There's another way to reset: 1. Sell existing operating companies 2. Pay off debts using sale proceeds (+ some capital infusion??) 3. Acquire fresh operating companies
Simultaneously: 1. R/S Common 2. Reduce A/S significantly 3. Effect management changes 4. Buy back / dissolve Series D Super Voting Preferred
Many similar elements to your concept, but both plans will: 1. Leave the company with no toxic financing 2. Retain the CEO + Chairman 3. Provide the opportunity for a clean restart