Stockminder,
I agree with most everything you say with the exception, IMO, the RS is in the bag if the meeting goes off without a hitch.
Also IMO, the only way to stop the RS is a Class action suit, and, part of that suit being the replacement of the current BOD and management, and, the cancellation of the Preferred shares. If you guys band together strongly and get representation QUICKLY, you may have a chance --- slim as it may be!!!