LYC Mispricing Article, page-12

If you are doing EPS calculations over a period time then you have to do it on a fully diluted basis.

In quoting market cap it is always - and I repeat always - done on shares issued at that particular time. Anything else is just wrong. Market cap is an absolute. However, and there always is a however, you can quote market cap on a fully diluted basis (and you should clearly state that) but it is just meaningless as you are diluting the current value of the business by a future unkown event - ie the warrants/options/debt to equity swaps etc etc may or may not get converted.

Do yourself a favour and look at the top right had corner. It says market cap $991.8m, check commsec or any other platform and it will say market cap of $991.8m. It is just the way it is. Anyway back to Roy.