CDash - yes I agree. 'If and when' there would come a point a member to convert their preferred shares to common, that action adds to the outstanding share base, but the very good news is they would only be adding 100 shares per preferred share vs 1200.
Last line in the PR is key: " By approving this measure, the potential dilution of the Company's Common Stock will be reduced by 1.1 billion shares."

Excellent!!