Interesting. Forgot about that deal. So Swartz might have only dumped 37 million, not 50 million (50 less 20 bought back in deal, plus 7 issued in deal).

Please note, I took a quick look at the 5/31/05 10k to try to find out how many shares Swartz owned at that point. I couldn't find it right away and didn't have the patience to look real hard for it. The 37 million indicated above is calculated based on Swartz owning zero shares as of 5/31/05. So any shares that they did own at that time would be added to the calculation in how many shares they dumped between 5/31/05 and 5/31/06.