I don't know where you are getting that information.
Before you spit out numbers, please do your research.
Get a calculator dude, and just try to divide the current supply by the number of premined coins.
You're calculating the % premine wrong. Nobody cares about current supply. The only thing you should care about is maximum supply. Bulwark is a strong coin. If you have you're doubts simply on some misinterpreted premine value then I suggest you just step aside and miss out.