my guess the authorized is close to being maxed out so this in effect will be a 1000 to 1 reverse split without having to reverse split. I would be careful on this one. Plus it sounds as though you wont be able to convert back or sell xxis preferred for at least 3 months. A bit scary if you ask me. Wow. Not sure what to think. At 1st it sounds good but the way spzi and xxis have traded in the last year or xxis existance. I dont think I would touch this one. GLTA. JMHO bucks