Actually I believe that warrants take up some of the authorized share count since in fact they can become shares at the choosing of the warrant holder. Even though they are not actually shares, they do tie up some of the authorized total.
So we should worry that almost 7 million options (about 1% of the total authorized and worth over $9 million cash if we could have sold them to investors this month) that were recently granted without any performance criteria other that staying with Cytodyn.
IMO