Investor Asks a Great Question

Elite's major inside owner, Epic converted out of their Preferred. 8k released They were the major holder by far and insiders of the company. This represents almost all of Elite's preferred shares. Almost all gone except scraps... The CEO just noted they have been having discussions with major pharmaceutical companies on partnerships very recently including the CEO of one and the Chairman of another..... Listen to the R&R investors conference Why did Epic do this? A) To sell their shares? b) They didn't like having preferred shares because it made them feel superior which left a bad taste in their mouth? c) Because of substantial events upcoming which they and the company would be better served for them to be in common shares? Now before everyone starts picking A because they already sold their shares.... Epic already had plenty of shares to sell which would last them many, many quarters, can't sell these for 6 months, and is restricted in what they can sell and how often, so we KNOW selection "A" is not the correct answer. So it is B or C.. ?