I don't think a dollar was a premium at the time he entered into this deal. I am not sure how this type of equity investment would go down. It could be a case of the company contacting this investor and selling him on making an investment and providing him with details about what the future holds or it could be a case of the individual contacting the company and asking if he can make an investment knowing he could never purchase 3 million shares on the open market without driving up the price well beyond fair value. I don't know if the individual even has a brokerage account and buys stocks like you and I do. If so, I suspect he will be buying up the shares below a buck but I have no idea. I doubt the guy is looking at it the way we do. He is probably taking this equity position with an eye towards what it will be worth in 10 years or 20 years.
I suspect the person in NV handles the aspects of dealing with being a Nevada corp. Probably just a small office in a large building that the person spends part of the year in. That is probably what all corps that are registered in Nevada but have operations elsewhere do.
This is probably where the big wigs spend most of their time.
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