Ann: SAS Completes World First Phone Calls, Instant Messaging, page-50

I'm not disregarding them. I'm saying the market is. Or more specifically, the number of shares is irrelevant to market cap. If there were one share then it would cost $128m. You put those escrow shares on the market and the market cap will remain the same, or nearly so. So share price will go to about .08 but the value of the company will remain the same.

The market sets the value by trading tradeable equity. Shares in escrow are (obviously) not tradeable. Put them on the market and market cap will remain constant, or nearly so, while price per share will drop. Releasing shares from escrow does not increase the value of a company, it merely increases the number of shares which people can exchange for that value.