Plandai Biotechnology Inc (PLPL)

[bri123]

Typically, Preferred A get transferred to the new owner. But, as part of the deal, the old owner may have their preferred A exchanged for preferred B shares. The old owner loses controlling interest, but can still convert later into common shares and then sell on the open market (per SEC rule 144) by filing an SEC form 4.

This happens quite often, especially when the buyer cannot afford to pay the entire amount being asked buy the seller.