No, Microsoft will surely get its $300MM back... But it's the investors in the common shares (which are in the back of the line behind the preferred) that won't make out on the deal. They're the ones that are stuck.
I must put you on IGNORE before you make any more of a fool and pest of youself than you already have. There is no doubt you will. Your now using double talking arguments is a display of deeper problems troubling you.