@BigBadWolf You claim to be a retired CPA but you cant even do Basic DD/Research: The link you just posted has NO PRODUCTS from GRLF. The link is all Cigars that are made by different companies!
Ive asked for a link on where you found this statement:
GAAP Under ASC 505-10 (Equity) and ASC 480 (Distinguishing Liabilities from Equity), the accounting entry effectively removes (cancels) the preferred shares and re-allocates their carrying value to common equity.
It would help potential investors tremendously by believing the Disclosures.