I am really wondering how to interpret the language of this share lockdown PR.

"The Consent further went to define the Rights and Preferences of the Series AA Preferred stating each share of Preferred has the right to convert into 10,000 shares of Common stock and carries full voting privileges.  The Rights and Preferences also state the Company does not have to increase the amount of Common stock to allow for conversion from Preferred stock to Common stock and the Preferred can only be converted when and if the Company has Common stock available."

What are the rights and preferences? Can the preferred vote as common and thus vote to increase the A/S on us so they can dump? Or do they have to be converted first and then they can vote? And in that case the A/S is maxed and that cannot happen. Does anyone know what is what?