There have been no share conversions from common into preferred. It is correct that the AUTHORIZED number of preferred increased however, the only change in the number of preferred ISSUED/OUTSTANDING is a DECREASE of 352,098 (preferred shares surrendered (not exchanged for common) by the BOD back in 2014). *It is important to keep in mind that there is a difference between shares "Authorized" and shares "Issued/Outstanding". According to the June 30, 2015 disclosure, the total number of Series B preferred shares was 11,903,254 on 12/31/2014 and 11,551,156 on 6/30/2015 (a decrease of 352,098). Additionally, over 2B common shares were surrendered by officers and directors prior to the reverse split.
The recent issuances of the 58,215,088 "restricted" shares common will be disclosed in detail in the Sept. 30th financial statements which will be posted on or before November 15th, as required by OTC.
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