There are 12 million shares listed for GHT. As for the other 21...

There are 12 million shares listed for GHT. As for the other 21 million held in escrow by HAV, can they really be included in a calculation of market cap.?

It seems strange, because there are only 12 million tradable shares out there. Maquarie bank has been chomping accumulating since 80c, which means there are becoming fewer and fewer shares availible.

12 million shares tradable x trading value = Mkt Cap.

Mkt Cap = $13million.

I spoke to Dr Robert Johnson (exec. chairman of HAV) this afternoon, who said the shares were never going to be sold directly to the market. He said the shares were being held for reasons such as leveraging deals, which I do not think will be happening in the short/mid-term.