"1. r/s 2. JBs CD (establishes majority) 3. vote bonuses 4. sell some of the A/S but not enough to lose majority 5. repeat 3. and 4. as desired."
1 - requires shareholder approval EACH TIME
2 - The 8-K released eliminates that possibility
3 - requires shareholder approval (pretty sure about that)
4 - IF CB converts (assuming RS passes) and IF his 144 shares have voting rights he will NOT have a majority - 30 something percent - ANY selling of the AS dilutes that (unless it goes to someone who will always vote his way as has been alleged would/could happen)