WRONG: usually when a R/S is done in Pinkyland and it's a scam group of CEO's or scam company/stock it will only R/S the O/S and keep the A/S in the billions, then do what you've said rinse and repeat adding the A/S into the O/S and restart the selling of shares, backed up with experience, penny players know how the penny market works which is mostly a bunch of BS, but repeating the same topic to convince those that are invested longterm won't do anything.
Maybe if Possum r/s the preferreds as well, it would be more palatable. Afterall, commons own substantially less of the company then they used to.