With a Nevada corp the board of directors alone can change the AS and as far as we know Jared is the BOD.
It's been posted that there are now 2 million preferreds out, not sure if Jared actually said that number, can't remember.
I'd think since the preferreds are voting he'd have made sure he kept a majority of them.
Supposed preferred equity end Q3 was $2.4 million, jumped to $4.33 million end of the year, or less than double, so that sorta fits.