Do we know how many common shares the BOD hold?
This may not be a PR for the average investor
First we really need to know the o/s and how much of that o/s the insiders hold - i think that will be the big bang coming when they say insiders own over 50% of the o/s and are electing to convert their common shares into pref shares, reducing the o/s from "x" to "half of x" - and then the following 3 months will see some big gains in xxis (or until the point the pref's get converted into common)
The above is all in my opinion and should not be considered a reason to buy, sell, short or hold a stock.