The sad part is that Fabio sends himself a notice of conversion from whichever private "company" holds those preferred shares now as they were all supposedly bought from noteholders by a Fabio "company", so when he receives it, he approves the conversion and has the shares issued by the TA. Let's all believe that they are issued as restricted, but all it takes is another letter from Fabio to lift the restriction and make them free trading or they may have an automatic date when the restriction is lifted.
Only the gagged TA and Fabio know the true details. Might have a 1 hour, 1 day, 1 week, 1 month restriction, only Fabio and the gagged TA know.
Typical stinky pinky trick, issue shares as "restricted" they automatically become a part of the OS. The restriction can be lifted with little to no notice to shareholders and start getting sold into the market, but the "DD" gets to tout that there's been no dilution because the OS hasn't changed.
More and more share selling schemes are using this trick. I've seen them claim they are restricted for 1 year and in the next quarter disclosure when asked about how many restricted shares there are, the answer was, NONE.
Is that what's going on here at WDAS?
Only Fabio and the gagged TA know for sure.
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