For sake of clarity I offer the following: The

For sake of clarity I offer the following:

The board of directors has authorized a total of 810,000,000 shares for issue. Of those, according to the quarterly report, 501,851,504 were issued and outstanding as of March 31, 2016. Also reported in the quarterly, under subsequent events, was the issue of 25,000,000 shares bringing the total of issued and outstanding shares to 526,851,504.

Therefore, 283,148,496 authorized shares have not been issued. These are not to be confused with treasury shares which were previously issued and either returned to company (ala Tom Shuman) or acquired by the company via a stock buyback.

The remaining authorized and yet to be issued, shares cannot be freely sold into the market without the company floating a secondary offering. Treasury shares, on the other hand, can be freely traded by the company. I suspect that the 25,000,000 that were sold in April were treasury shares reverting them to outstanding.

Authorized shares can be used to cover debt conversion and warrant obligations.

Although I haven't taken the time to tally up the outstanding debt conversion and warrant obligations that the company reported in the quarterly, a cursory perusal indicates most, if not all, of the remaining authorized shares are being reserved for potential conversions.

If there are insufficient authorized shares to meet the need, the board will be forced to increase the number of authorized shares.

Keep in mind, only the issued and outstanding shares are used when calculating the market cap.