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Affymax Inc  (OTCPK:AFFY) Shares Outstanding (Diluted Average): 37.49 Mil (As of Jun. 2014)

Shares outstanding are shares that have been authorized, issued, and purchased by investors and are held by them. Affymax Inc's average diluted shares outstanding for the quarter that ended in Jun. 2014 was 37.49 Mil.


Historical Data

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.

* Premium members only.

Affymax Inc Annual Data

Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13
Shares Outstanding (Diluted Average) Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 18.87 24.49 33.29 36.34 37.45

Affymax Inc Quarterly Data

Sep09 Dec09 Mar10 Jun10 Sep10 Dec10 Mar11 Jun11 Sep11 Dec11 Mar12 Jun12 Sep12 Dec12 Mar13 Jun13 Sep13 Dec13 Mar14 Jun14
Shares Outstanding (Diluted Average) Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 37.50 37.49 37.34 37.49 37.49

Calculation

Shares outstanding are shares that have been authorized, issued, and purchased by investors and are held by them. They have voting rights and represent ownership in the corporation by the person that holds the shares. They should be distinguished from treasury shares, which are shares held by the corporation itself, having no exercisable rights.

Shares outstanding can be calculated as either basic or fully diluted. The fully diluted shares outstanding count includes diluting securities, such as options, warrants or convertibles.

Please note: GuruFocus named Shares Outstanding (EOP) is the shares for that exact time point. It is usually used to calculate balance sheet related items, such as Book Value per Share, etc. While Shares Outstanding (Diluted Average) and Shares Outstanding (Basic Average) are the weighted average shares over a period of time (a year, a quarter, or so). They are usually used to calculate income statement or cashflow statement related items, such as Earnings per Share (Diluted), etc.


Explanation

A company may buy back shares or issue shares in any fiscal period. If a company buys back shares, we should observe that the total number of shares decline. If the company issues new shares, the number of shares outstanding increases.

If a company buys back shares, we should also observe negative number for Net Issuance of Stock in its cash flow statement. If a company issues shares, we will observe positive number of Net Issuance of Stock.


Be Aware

Usually the presence of treasury shares and a history of buyback are good indicators that company has competitive advantage. But studies have shown that companies usually buy back at wrong time. Buying back shares below its intrinsic value increases value for remaining shareholders. Buying back overvalued shares destroys value for existing shareholders.


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