Well, since Jerry won't explain, and nobody else can...
lets do some basic math. This 10 million share Mystery Preferred is allegedly some kind of "controlling" block of shares. Since (as of the last filing) there are 400 million shares authorized, a "controlling" block must equal 200 million shares. Therefore, the 10 million share mystery preferred must convert at a minimum of 20 to one.
Pretty sweet deal Jerry gave "someone," once again! There's no filing to indicate what "someone" paid for those shares - yet another important piece of information missing. Isn't that amazing? "Someone" has obtained a controlling interest in this stock for an undisclosed sum? How EXACTLY does that work?
Now... back to basics again... why won't Jerry tell us who OWNS the shares? Why won't he tell us how much was paid for a "controlling" interest? Why isn't that amount recorded on the financials?
Since he's trying to block a "hostile takeover" I'm guessing they're in very safe hands. Perhaps his own?
LLOLLOLLOL. What a scam.