That's the way I read it as well. The Preferred B Series are CONVERTIBLE and not CONVERTED as of December 31st.
We have to have an A/S large enough to accomodate for them to be converted but that doesn't mean we will have 8B in the O/S.
People are confusing A/S and O/S and BS...lol
As long as Greg controls that 51% majority voting Block of preferreds he has the controlling power of the company and can defend against any hostile takeover or controlling interest buyout.
IMO he will address the 4B O/S very soon in some form. A R/S may be necessary and isn't always bad if the company doesn't start diluting again after the split and starts turning revenues. I'm in a pink company now that has executed that move brilliantly and has handsomely rewarded the shareholders who have stuck with them through the split. It can be done.
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