It's actually not that complicated. In the certificate of incorporation the par value is the minimum value of the shares issued, so the company can issue 20,000,000 series C preferred as low as .0001, when they actually issue the shares like they did to Mr. Cohen they are issued at a decided value in this case $2 per share... The same applies with the other preferred classes... The par value in the certificate of corporation sets the minimum value they could be issued at... Hope this helps!
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