Yes, that is the press release
The existing common shares, 2 billion, will get RS into 2 million. There will be 36.5 million shares post split, so the existing common shares will be only about 5.5% of the company ( 2 / 36.5 ), meaning the existing common shares are being diluted by 94.5% from all of the preferred conversions.
Louis J. Desy Jr.