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URL:  http://boards.fool.com/is-it-fair-to-note-you-would-usually-use-the-fully-30506793.aspx

Subject:  Re: Market/cap assignments for stocks? Date:  1/25/2013  4:42 PM
Author:  pauleckler Number:  260448 of 266439

Is it fair to note you would usually use the fully diluted share number. Hence if shares are offered by stock options or warrants, etc, the shares outstanding number is increased to include all those offered as though the warrants or options were executed and convertible preferred shares were converted to common, etc.
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