A mad professor has created a new kind of creature called a blorg. For each blorg, one hour after it is born, it gives birth to a new blorg. Two hours after it is born, it gives birth to two more new blorgs and then immediately dies. If the professor starts with one newborn blorg at noon, how many lives blorgs does he have at 4:05 PM that afternoon after the new blorgs have been born and the two hour olds have died?