Therefore, in accordance with the Ownership Limitation, based upon 18,858,196 shares of Common Stock outstanding as of the date hereof, each of the Reporting Persons beneficially owns 1,905,601 shares of Common Stock and disclaims beneficial ownership of 818,210 shares of Common Stock issuable conversion of the Preferred Shares and exercise of the Warrant
I need read over this more but it seems like there are more shares to come via warrants and preferred shares. Although it kind of sounds like this may have already taken place.
On a side note is 18,858,196 about 2 million higher than the last known OS count? Or is this old news?
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