Now you're twisting the plain meaning of the text. Look again. There is a comma after the 1.5B.
The amount of total authorized capital stock which the Corporation shall have the authority to issue is 1,500,000,000 shares of common stock, each with $0.001 par value, AND 1,000,000 shares of preferred stock, each with $0.01 par value.
There should be a comma after 1.5 billion. They were just saying how the authorized is unchanged
Now this really, really is my last word on this.
Avoid wearing a wet leather helmet. It shrinks as it dries and creates tremendous intra-cranial pressure that may affect investment decisions.