Got contacted by a Record Label, now what?

So my Metal band got contacted by a pretty big/popular label. I want to know how to go about this. They asked how many CDs we've sold and if we're on Soundscan (which we are). So my question is how do I go about responding?

Should I bump up the amount of sales of CDS we've sold (ex: sold 1000 in a couple of months, but should I bump that number up to 2000?) keep in mind the CDs were sold through our personal website and gigs. Do people usually exaggerate a little bit to seem bigger? How does it work?

I would appreciate a response only from people who had experience dealing with an actual record company, In the last 5 years or so (the industry is VERY different now then it was then). Our band is 2 years old and we're all in our 20's. Thanks!

First of all never lie, it is a waste of everyone's time and it always complicates things. That goes for everything in life. Second, if the record company can't do their own homework and find out how many cds have been sold or check to see if you're on soundscan, iTunes, etc., they're probably not that interested in investing that much money to make it worth it to you to get involved with them only to lose money if you become successful down the road. Do some internet researches on this record company, find out what other bands they have supported and contact them to see how the company is before you get burned.

check out the forum gearslutz. lots of industry vets there