That's an old number from January - I wouldn't rely on SH for accuracy. I wouldn't rely on them for much of anything really - maybe a good horselaugh now and again.

http://www.minaurum.com/s/ShareStructure.asp

The co. website lists 50,066,146 fully diluted as of May 9, 2011 which is slightly more than shown in their MD&A of Apr. 1, 2011. I assume the difference is due to options being exercised.

However, their presentation PDF still shows the old number from Apr.1, 2011. I'm watching that space to see how long it takes them to update. I've seen companies take over 3 months to update presentation docs. Needless to say, the longer it takes the less trust I have. It's getting late, so I'll check the insider filings tomorrow and see how much time to give them before I get suspicious. Those options could have been exercised last week for all I know, in which case, no problem.

This does raise a point though. If you see discrepancies like this that drag on for any length of time, it's probably telling you something - at the very least that the co. in question doesn't keep good records.

Also, I always use fully diluted numbers when talking about shares as I assume the stock is going up and options/warrants will be exercised - otherwise why buy it? I also check the numbers on the co. website against SEDAR/EDGAR filings, and I never rely on 3rd parties for that kind of info.

ebear