"Technically" you are wrong. There is an "Absolute 100% Definite" one billion common shares retired & out of action for good. HOWEVER they were replaced for capital funding purposes from other allotments elsewhere... Nothing is new of what your trying to bring up, and most of us can see that when all the dust has settled, the O/S skipped sideways, but available preferreds upon conversion went down..
So overall, in the greater picture the S/S as a whole went down- PERIOD.
GDHI
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