Vapor Group Inc (VPOR)

[FinnWeed]

I'm always expecting the worst case scenario to realize, that's why I'm assuming all the prefs will be converted in October.

Actually I do know the allocation of the preferred shares, it was in the quarterly:

Dror Svorai 262,250 10/18/2016
Yaniv Nahon 87,500 10/18/2016
Shalom Ohayon 396,500 10/18/2016
Arik Cohen 140,000 10/18/2016
Avi Simhon 140,000 10/18/2016
Asaf Cohen 140,000 10/18/2016

(multiply all those numbers with 1800 and you'll get the number of converted outstanding shares)

This is where I want you to correct me if I'm wrong (no sarcasm), but I don't see how trading volume would prove that no new shares have been issued.
As investopedia says:

Once the restrictions or conditions have been satisfied, the stock is no longer restricted and can be transferred to the intended person receiving the stock.

(source)

To me this means that once a certain amount of time from a certain event (for example a year from the merger) has passed, the preferred shares can (or will automatically?) be converted into common shares, so they show up in the number of shares outstanding. But if the shareholder doesn't want to sell the shares yet they won't show up in the trading volume. Am I right or am I missing something?