My SWAG for calculations at the end-state for share count when the wheels start turning (funding/listing and/or cash flow) has been 120MM for a while now. But that only gives Joe ~$2.4MM of additional funds at these prices, on top of deal signing payments (assuming those keep coming, which is a bad indicator on many levels if that doesn't happen). So I doubt we would be much under 120MM, but certainly could be above, depending on timelines.

Then I imagine, when things are looking up and the companies are functioning at some actual level, there would be an issuance of shares as payment for all those who haven't been paid over the past few years.

But it seems to me as if the issuance has slowed, at least temporarily, with volume so low.