It's the Big Lie. Act of desperation. Fools some. Those preferred shares, like Agent said, are likely not even issued yet. The preferred were authorized probably way back when, but still weren't issued as of Q3 publication date. Once issued, there'd be a year holding period before any preferred could convert to common shares. A/S common is still 750m. Most recent report of O/S 601m. There's no way iequity is going to give up preferred share voting control EXCEPT in the event of a big buyout offer, which I think will happen down the road.

Agent provided this: