Our current capitalization is:
# of Common Shares - Issued and Outstanding - 70,619,369 (c)
# of Warrants - Outstanding and Exercisable - 28,903,001 (a1)(a2)
# of Options - Outstanding & Exercisable - 6,900,000 (b)(d)
Total - Fully Diluted - 106,422,370
Notes:
The capitalization numbers above reflect the following events:
(a1) the expiry of 1,116,666 warrants on December 30, 2011 (@ $0.50 ea)
(a2) the expiry of 142,333 warrants on December 30, 2011 (@ $0.30 ea)
(b) the expiry of 150,000 options on January 26, 2012 (@ $0.13 ea)
(c) the issuance of 50,000 common shares on April 26, 2012 as a Venton Lake option payment
(d) The maximum # of options which may be granted under our approved stock option plan is 7,061,937
which is 10% of our issued common shares. Another 161,937 options may be presently granted.
