Preferred stock can't be resold. PVEC claims that it will convert each Series C share into $.20 worth of common shares.
What PVEC has neglected to state is that under Rule 144, the common stock issued would have to be restricted from trading for at least 6 months, perhaps 12 months. Additionally, there would likely be high fees to have the restrictive legend removed.
Lastly, even if/when the legend is removed, most mainstream brokers will not accept deposits of penny stock certificates. Holders of such certs would likely need to open an account with one of the boutique brokerages that allow such deposits, however they charge very high commissions.
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