Since you didn't answer my question, I can make fun of your answer. Your answer is exactly why the company is essentially bankrupt without the official filing. You are in complete dreamland. You do understand that management can't stop it. The preferred stock scheme will be obliterated by any good lawyer.
Here is some free information. You should tell your buddies to get Niterra to invest $600,000 into the company, about 6% and file with the SEC. Very good promotion foundation which would probably give your pals a pop.