Willaim Veve gave himself and his cronies all those special convertible preferred shares that now can be converted to 8.25 billion common shares. Veve ran the company into the ground, failing miserably in everything he ever did.
Veve still had a lot of common shares, but I'm guessing he already dumped those.
CEO Sprung either bought or has otherwise taken the preferred shares from the cronies.
Veve did give thse special shares for "services rendered". Unfortunately investors did nothing or ignored the fact that Veve basically looted the company equity by giving himself and the cronies those preferred shares, basically taking well over 2/3 of the company equity from its investors.
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