and he has 10mil authorized pfd shares with 1mil out there... http://www.otcmarkets.com/otciq/ajax/showFinancialReportById.pdf?id=45855 "Both companies will become equity holders in Laidlaw Energy and will be issued a new class of preferred shares". http://www.otcmarkets.com/stock/LLEG/news 2.4bil common shares out there 1mil pref out there and a NEW class of preferred shares??? what's that all about don't know the answer but I decided I wasn't waiting around...reduced substantially my position