I would expect that the conversion of the last of the preferred means less volatility in price. The preferred holders had a strong incentive (and means) to drive the stock down for short periods to get a good converion price. There were lots of twists to the preferred agreement, and it is unclear at what prices the conversion was done at, but the bottom line is they are out of the hands of what might be considered the loan sharks. I haven't seen a clear picture of how much dilution came from the preferred; the 1st 50% converted at pretty low prices.
Hopefully the new placement is on better terms, though the lack of details in the press release is not real encouraging. There should be at least an 8K filed shortly with more details.