Alcyone Resources (ASX:AYN) Shares Outstanding (Diluted Average) : 1,517.86 Mil (As of Jun. 2013)

Alcyone Resources Shares Outstanding (Diluted Average) Chart

Alcyone Resources Annual Data
	Trend	Jun04	Jun05	Jun06	Jun07	Jun08	Jun09	Jun10	Jun11	Jun12	Jun13
Shares Outstanding (Diluted Average)		Get a 7-Day Free Trial					505.69	646.97	1,015.68	1,326.43	1,517.86

Alcyone Resources Semi-Annual Data
	Dec03	Jun04	Dec04	Jun05	Dec05	Jun06	Dec06	Jun07	Dec07	Jun08	Dec08	Jun09	Dec09	Jun10	Dec10	Jun11	Dec11	Jun12	Dec12	Jun13
Shares Outstanding (Diluted Average)	Get a 7-Day Free Trial															1,015.68	1,314.40	1,326.43	1,385.69	1,517.86

Alcyone Resources Shares Outstanding (Diluted Average) 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.

Alcyone Resources  (ASX:AYN) Shares Outstanding (Diluted Average) 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.

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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Alcyone Resources (ASX:AYN) Business Description