Was trying to keep it positive. Did make a mistake though. SPNG is already on OTCBB. Next step is NASDAQ - got confused with BIHC, which is still on the pinks.
GMD, I can assure you the buybacks will occur; there's no doubting it. Also, we're not far off from an uplistable OS -- just keep that in mind.
As for the issuance of prefs, that's commonplace for a company wanting to retain a degree of voting power when changing exchanges. May want to read up on that.