Information related to PAR VALUE :
Per IR , today :
The Par value is used to calculate legal capital, and is used from an accounting perspective in certain valuations of share issues in the Equity section of the Balance Sheet. Also, the par value of a share of stock is the value stated in the corporate charter below which shares of that class cannot be sold upon initial offering.
Regardless, par value continues to be reported by accountants on the corporation's balance sheet and printed on stock shares. Even though the company sets the par value thru its corporate charter process; the actual value of the stock remains determined by the market. The company may have an impact on the price by either issuing more stock which may reduce the price or buying shares back which may increase PPS.
On the date of conversation of the promissory notes noted in the email, the convertible notes would use a “conversion price shall be equal to” and be obliged to issue shares accordingly. The actual conversion value of those stocks issued is determined by then current market pricing and par value does not seemingly factor into the equation
