Your last statement, I agree with. The sentence before that, you are wrong. You just didn't understand my statement.
That is all I have been pounding on. Let me state it another way, If you had to rate the importance of the RS, from 1 - 100, 1-97 would be CB's ownership, 98 would be reduced float, 99 would be reduced issued shares per authorized, and 100 would be to prepare for the big board. The center of our universe is his ownership or he would be doing all this for us.
The benefit for staying in preferred is that he gets liquidation rights, should anything ever happen. It is counted like 35% right now, at least in my book, whether its preferred or common, don't kid yourself. People might say he could do another RS, not likely, and I will be long gone before then.
He put little money down up front, raised money, issued 500 million shares, gave the company a loan which created the preferred, which exploded with the magical RS. It is just a recipe. He is the only cook that knew what he was cooking. His shares went from 12.5 million to 264.5 million shares.
I will say it again. He deserves this ownership, not just the way it was presented or understood. When I invested there were 500 million share authorized, including 3.5 million preferred with a multiple, so I invested based on what the company presented. What I didn't know was that there were really 750 million share authorized or to be authorized. I very well may have invested differently had this been known.
