snoz: >>>These are authorized but unissued shares. Total number of outstanding shares at this time is just under 40M.<<<
Right. 39,525,000 as of Feb. 6, 07 according to the 10Q.
And while things can change, and the credibility of management may not currently be at a highpoint for some investors, Jim has said more than once (once was at one of his Dog and Pony Show presentations---I can search it out if people really need the cite) that there is enough money to build through 180 (178) MW, then, other financing will need to be secured. He said the usual ...through equity or debt...and then said something to the effect "that at this time we would expect it to be through some kind of debt financing."
I'm going to post this, but I'm going to try to dig out that quote---if the presentation is still available.