16 squares  8 small ones, 8 double the dimensions of the smalls.
There are of course numerous squarelike shapes, but those have intersecting line segments that negate the "squaritude" of the geometry. e.g. the L shaped pieces, with the addition of a small square, could appear as one double dimensioned square, but it really is not a square, it is two separate geometric figures.
Unless this is shown on a screen with square pixels. then of course there are thousands upon thousands of squares.
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Is folding JKo UTG+1 too nitty?
