Trans-Pacific Aerospace Company Inc. (fka TPAC)

[JonnyBGood]

I believe that 20,000 were designated as convertible preferred out of the 5,000,000 authorized as far as their type of preferred, but they were not all issued. There are only 3,685 that have been issued so far.
You have to agree from a corporate standing as to what kind of preferred will be issued and how many before they are issued, but you don't have to issue them all at once. Those not issued remain as authorized preferred convertible stock.