I believe TECO can issue preferred shares for comm

I believe TECO can issue preferred shares for common shares and then sell the converted common shares for cash but I'm not sure specifically how that works. I believe the majority shareholders which only consists of 3-4 shareholders voted down an R/S. No liquidity within the stock equals no interest in the stock. TECO can keep PR'ing great ideas all they want and possibly succeed with one or two of the ideas but if nobody believes them then who has the expertise to change that perception? Only success and SEC filings will change that perception. I've seen penny stocks explode when issuing PR's like TECO's last two but not when it comes to TECO. The boy has cried wolf too many times and that includes the new regime whether publically or in private. Shutting up, putting up and then speaking is long overdue! Here's my point; Tuesday's PR suggests the following:
With respect to the announced transaction in Colorado:
· TREATY is intending to close on this transaction by DECEMBER 15, 2014. The metrics for the transaction have substantially changed;
Based on the zero credibility factor, why couldn't this PR and self-imposed date wait a short month relative to the overall TECO picture and the years shareholder's have been waiting for "RESULTS"? What if the deal misses and once again excuses need to be made? It's not as though the PR was going to have any imminent effects on TECO's PPS i.e. shareholder value?
The PR rings like the 50th TECO pump PR in four years because once again it is a "Forward Looking Statement"! Why not close the transaction first and then announce it???