So lets use common sense.
Before any preferred shares are converted, it must be filed, requested, and approved. Fair enough.
Who, if anyone in their right mind would doom their company by bloating out the SS to impossible values, and expect to ever have the ability to do any type of business with anyone? No one. it's just that simple.
BTW, the scan posted last week was crooked and barely legible, I hope that was not your $800 scanner.
None the less, the assumption that these people will convert to un sustainable levels is not a sane thought let alone idea. I think we all know that.
Disclaimer: Everything I post is opinion and is not to be taken as investment advice. You make your own decisions based on your own judgement. Do your own DD = 'Due Diligence' = Your trade, Your responsibility.