From the 10-K for Josh to read.
Sorry Josh, unless you are Kevin Schewe, you DO NOT own any preferred shares.
Common Stock
As of December 31, 2012 and December 31, 2011, the number of authorized shares of the Company’s common stock was 1,500,000,000. The par value of the common stock is $0.001. Common shareholders are entitled to one vote for each share held on all matters voted on by shareholders.
As of December 31, 2011, there were 1,333,796,601 shares of common stock outstanding. During 2012, the Company issued 1,000,438 shares of common stock under an existing Registration Statement on Form S-8 to employees and consultants for services provided or to be provided to the Company. The Company issued 32,219,141 shares of common stock to Director Kevin Schewe as he converted loans into shares of common stock as allowed under an agreement he has with the Company as discussed in Note 6. In addition, the Company issued 66,350,043 unregistered shares of common stock to employees, consultants and vendors for services provided or to be provided to the Company. All of the share issuances in 2012 were recorded at fair market value determined by the price of the Company’s common stock trading on the OTC Markets on the date of grant. Stock compensation of $519,000 was recorded relating to these share issuances. As of December 31, 2012, there were 1,433,366,223 shares of common stock outstanding.
http://www.sec.gov/Archives/edgar/data/1270200/000101968713001360/viaspace_10k-123112.htm
Preferred Stock
At December 31, 2012 and December 31, 2011, the number of authorized shares of the Company’s preferred stock was 10,000,000. The par value of the preferred stock is $0.001.
On May 14, 2010, the Company filed with the Secretary of State of the State of Nevada a Certificate of Designation of Series A Preferred Stock. The Certificate was approved by the Board and did not require shareholder vote. The Certificate created a new class of preferred stock known as Series A Preferred Stock. There is one share designated as Series A Preferred Stock. One share of Series A Preferred Stock is entitled to 50.1% of the outstanding votes on all shareholder voting matters. Series A Preferred Stock has no dividend rights and no rights upon a liquidation event and is subject to cancellation when certain conditions are met. On May 14, 2010, the Company issued one share of Series A Preferred Stock to Mr. Chang related to the acquisition of IPA by VIASPACE and VGE, effectively giving him a controlling interest in VIASPACE.
Effective as of September 30, 2012, and pursuant to an Agreement to Grant Voting Rights and Transfer Preferred Share executed by Chang and Director Kevin Schewe, Chang granted Schewe an irrevocable proxy that permitted Schewe to vote the Preferred Share. This proxy lasts so long as the License (discussed in Note 2) remained exclusive to the Company. Upon the earlier of (i) the expiration of five years or (ii) the date when the Company reached a market capitalization of at least $50 million, the proxy would be cancelled as the Preferred Share would be transferred from Chang to Schewe.
http://www.sec.gov/Archives/edgar/data/1270200/000101968713001360/viaspace_10k-123112.htm