"The usual practice for quoting a companies market cap is fully...

"The usual practice for quoting a companies market cap is fully paid shares on issue...that is standard, so for you to say there is "no way" we can say it's 14 mil is laughable hyperbole."


Fully paid shares on issue = 41,375,001

41,375,001 x $0.46 = $19 million.

$19 million <> $14 million QED


You probably meant quoted but I can assure you the market takes into account all issued securites/options/convertible notes/bonds/loans etc when pricing a company.

Really I'm just finding this whole thing amusing, all I did was calculate the market capitalisation correctly.