First off, the A & B preferred could not vote (until they were converted to common, and so were no longer preferred), so I'm pretty sure the C preferred can not vote either.
Second, all A and B preferred have been "retired", there are no more, and there will be no more of those sold. And please note, of the Preferred As, not all of the 10 million As were sold, and of the Preferred Bs, very few were sold.
Third, while it's very exciting to think there will be a partner (or two, and someday, perhaps), there's not a large number of these pref Cs out there (or you'd see an 8k announcing it as has been done with the loan done with Fife and his funds). The raise here has been just enough to keep things going (especially given the paltry share price) and I believe most of it was done with the usual angel types. Some of the pref C shares were sold to those who exercised some of their long-standing warrants, and instead of receiving common shares, they received the pref. This all should be delineated in the upcoming 2nd Q that usually comes out by around 8/15.
So, IMO, no need to get too excited about all this... other than it means that the company keeps on keeping on, and some people paid money to the company and did not get common shares (that they can vote), and instead received these preferred. When the ASM rolls around, there will likely be request to raise the limit from 1.2 to some higher number, and after that vote takes place, the prefs will likely be converted to common.
And that's it, IMO... Whooptie doo!
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