I didn't click through. For the linked post... That's not how it works with preferred shares, and preferred shares have nothing to do with nor do they need a reverse split to function.
In the public filings are the Certificate of Designations with the state of Nevada, and in there is a cap on conversions at any point in time. 9.99% of the common for any single preferred share holder.
Nobody gets "wiped out" all of a sudden from preferred conversions, because every preferred shareholder has a limit on what can be converted, and more to the point what can be held in the moment.
It's a complex math equation, but it is still just math. I don't mean that to be crass like "you're evading the question", just want to educate. I have found though that most don't really care about the education and will form a "story" regardless.
Bullish
Market Data 
Markets 
