I think that’s his purposeful mistake.
allowed 50,000,000 pref 8.8 billion common. Per NC doc
Jason’s block of 1mil pref are controlling block. He will not issue more preferred shares to give up control.
He would have to file with FINRA for more authorized shares if he issued to many preferred (each pref share issued 15,000 common held)
We don’t have the final doc on shares, we just know he’s re-structuring share count in a good way (it looks)
I’ll look through my SEC study book from when I took Series 6/63 for a flow chart to post