Winning Edge International, Inc. (fka WNED)

[PappaJohn]

About all I see in the stated $10 value is in regards to their puts and calls. "After April 1, 2014, the Series B Preferred Stock contains a “put” provision which allows holders of the shares to request Winning Edge purchase their shares of Series B Preferred Stock at the stated value of $10 per share." and "callable by Winning Edge on 20 days notice"....again at the $10 price.

The caveat is WNED can delay the put purchase for 2 years and then "may issue shares of common stock valued at the greater of the then current fair market value or $0.10 per share" instead. Then you'd get up to 100 common shares instead.

I'm guessing the dividend plan is to placate most investors' dislike for reverse splits and an incentive for ProGames Network, Inc to merge. Most likely the latter as they'll own 85% of the WNED common.