I don't know about common, but its a thing - likely because of the "preferred shares" class. This guy doesn't seem too big on reading the fine print: invests

I don't know about common, but its a thing - likely because of the "preferred shares" class. This guy doesn't seem too big on reading the fine print: invests in Penny stocks and doesn't realize risk? Invests $100k without finding out details? Doesn't know what preferred shares are? Figured 1:1000 (public deal) and 1:30 / 3:1 (his deal) was exactly the same?