Ren, the fact that the company issued two options as addendums to the preferred shares they had issued shows me that those options granted are specifically for the seller of the property, and is not a new class of preferreds. If It had been a new class of preferreds, the terms of the options would have been incorporated in the terms of the newly issued preferreds, and not subject to options written by the company to the property seller. What they appearantly did was use the existing preferreds, and modified the terms by use of the two options.
