you're damn right the common won't be cancelled; Why? CAUSE I OWN A HALF MILLION SHARES AND I'M GONNA BE FILTHY RICH WHILE THE BOARD SCUM LIFETIME BASHERS WITH WALLOW IN THEIR TRAILER PARK CESS POOLS. LOLOLOLOL SCUM
In other words you're saying that just because you own 500,000 shares that they won't cancel the stock? That sounds like a perfectly good reason to me. I can just hear the B.O.D., the bankruptcy court, and the creditors saying together "We can't cancel the stock, because this goofball owns 500,000 shares."