You are counting trading days from Sept 1.. I am from Oct 2, when the warrants were finally finished.. We don't know how many other warrants were held by S/L and were converted/sold in the traditional manner b/t Sept 1 & Oct 2 (besides that 5M).. and if therefore his retail shares count remained constant or not... If those were indeed the only warrants Swartz held at that time then the counting should in fact be started at Sept 1 as you are implementing.

You are correct.. those warrants had been included in my estimation.. Quickly now: that would make 6.7M shares sold by Swartz from Oct 2- Dec 31... making ~7.7% of those 86.7M shares traded, and agian IF on the OTC you have to divide by 2 to get actual shares traded then 15.4% of all trades have been Swartz sells. 15.4% of the 36.5M shares traded so far this yr leaves Swartz with 18M shares currently..

or 6.7M sh in 62 trading days... 108k/day

Thus far in 08.. 46 trading days.. 4.97M sh sold.. leaving Swartz with 18.7M sh currently

guestimation... Swartz has~18M shares currently... or 20M if he has curtailed his selling.