“Preferred restricted that convert into ready and waiting unrestricted common“
That’s not even a thing.
What you might be referring to is convertible preferred stock that has been held for 6 months and thus is eligible for the removal of the restrictive legend on the converted common stock. It would appear that given the OS that has happened from a chunk of that preferred stock and now that converted common can be sold into the market. But the DTC deposit suggest it has not yet done so.
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