there are 30 million preferred shares that are on the books from the old ceo witch will be retired. they have no value as they can not be converted. steve is just trying to clean up the books before the name change.

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we are working with the past CEO to retire the 30 million preferred shares that are on the books. I expect this will be done within the next week or so. These shares are issued in his name and cannot be retired unless certain criteria is met. The shares can never be converted to common but I want them off the books.

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source

https://ih.advfn.com/stock-market/USOTC/on4-c...e-to-share