i called big apple today. i didn't them much help. i asked what's the process and they said to refer to the pdf file on the website. i said it doesn't say how an investor is ensured they will get the preferred shares in return for surrendering the common share certificate. he said it's written here that they will. so i said, that means a no, no agreement or anything that is signed to say they will send in return the preferred certificate. he had nothing to say.
then i asked what the process is from exchanging preferreds back to common. he said he doesn't know what that process is and that it doesn't say anything on the document about it. he said to ask my broker, and i thought, what does the broker have to do with this?
last question i asked is if he knew any canadian brokers (i'm a canadian resident) who would accept and deposit pink sheet certificates. he said he doesn't know. i said, so if i exchange into preferreds and get back common cert, and there's no place to deposit it, it's of no value as i can't sell anything. again, he said nothing.
i said thank you and hung up. all in all, not a very helpful nor of any optimism.