The PUBLIC FLOAT is the AGGREGATE MARKET VALUE of outstanding securities held by NONAFFILIATES. It is determined by using the price at which the security was last sold or the average of the BID-AND-ASKED PRICE on a date that is within 60 days before the close of the fiscal year. If the issuer is filing its initial REGISTRATION STATEMENT, the average is determined as of a date within 60 days of filing the registration statement. Rule 12b-2.
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The number of issued and outstanding shares of a company, excluding shares held by persons who, individually or in conjunction with other persons, hold 20% or more of the company's voting securities.