Veve may not hold any preferred shares. From financials, the ones that Veve and the other cronie held have changed hands twice. Sprung now owns the preferred voting control shares.
These can be converted to around 8.25 billion common shares. VMGI doesn't have enough shares authorized for their toxic financing shares now, let alone the 8.25 billion shares they need to keep in reserve to allow conversion for the special preferred, each worth 1,500 common shares.