H Man thanks for the clarification... In my defense, I attempted, or so I thought,to EDIT out my answer to Genlou. evidently my attempt was futile.. Sorry for what seems like an inaccurate attempt at an explanation.
H man, although in general I am in agreement with you calculations, I find that the scenario in which the common gets wiped out in reality does not exist. How will they get to the point where they sell the company and get paid back their "preference" and give nothing to the common?