The current amount (based on the last update) of Preferred B stock outstanding would indicate Boost no longer holds any Preferred stock.

Boost and dilution go hand in hand. If Boost doesn't hold any Preferred then dilution is coming to a halt.

Preferred B stock is transferable (can be purchased by a 3rd party) but there is no indication this occurred.

It's as if Preferred stock was retired or bought back then retired. The company doesn't have much debt but because of negative cash flow, it offers Preferred B stock. It would not take much capital to purchased the company's debt but the company does not have the cash flow to do it themselves.

You are correct. Ties with Boost would need to be completely severed if the company was entering into a distribution agreement in Canada (Feb 20th PR).

It's just a very interesting development especially when combined with the fact Boost has been liquidating its Preferred stock ahead of its maturity date in 2014. Boost is not obligated to convert its Preferred but continues to liquidate its position.

Hope this helps.

GLTA