So, am I to assume this is toxic debt to equity conversion today? It would appear a nice orderly debt to preferred A & B stock is not going as planned, or is something else occurring?

Gurba needs to explain what is currently happening on his end of things. The I-Hubbers are saying this is a buying opportunity. I say the buying opportunity needs to be validated thru a company update before one jumps in. After all, the happy crowd has been saying this has been a buying opportunity since .0050.