Outstanding shares refer to the number of stocks that a company has issued. Find answers to questions about how to request certificates and copies business entity filings here.Share capital is available in every balance sheet. The outstanding shares formula is represented as issued shares minus shares held in the company's treasury or treasury stock. To get corporate financial records as a shareholder, you must make a written request. An Irvine, Ca business lawyer can help you get corporate records. Read 2 Answers from lawyers to Once a corporation has been formed can shares of stock not be issued, and if so who owns the corporation? To buy all of the outstanding shares of a public company you can't just go out to the stock market to place bids. Typically, the issued and outstanding shares of a company are its capital stock, which is a combination of common stock and preferred stock. The reports are usually available in the investor relations section of the company's website.