Small Time Trading

[SidewaysTrader]

What do you think about this preferred share situation?
I'm not completely understanding it but the way it sounds to me that people holding this preferred shares are at liberty to sell them now since the prices dropped this low yet I'm seeing accumulation rising on the short term charts so that doesn't seem to be the situation. Don't know what to make of it. It looks like it wants to take off and then it gets whacked back down again.