DilutionAfter the private placement:
57,218,029 shares outstanding @ 9/30
11,250,000 private placement
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68,468,029 estimated shares outstanding after PP
4,226,250 options @ 9/30
3,664,688 warrants @ 9/30
5,625,000 placement warrants
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81,938,967 estimated fully diluted after placment
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$ 652,890 book value @ 9/30
4,500,000 equity from private placement
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$5,152,890 estimated book value after private placement
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$0.075 estimated book value per common share after PP
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