Par value once upon a time had significance but not so much anymore... Hence why some stock is issued at no par or very low, below .01, as it sets the floor for value as well as serves for tracking purposes on the balance sheet. The difference between the par value and the price paid at initial purchase is added to the paid-in surplus account... So for Mr. Cohen's transaction there is no change in value essentially a straight value swap... For the Reg A of the new shares to be sold at .03 the difference between the par value and the value of the new shares sold (once actually sold) will be added to the balance sheet as paid-in surplus... Par value is really just an accounting tool...
Ok, then please explain how and why on the Revised Quarterly Report dated 9-25-2019 that was for Quarter Ending 6-30-2019 there is a 10 million share issuance dated 9-9-2019.
The revised statement ended on 6-30-2019 and there shouldn't be anything after that date included on that Quarterly Report.... but there was!
I guess were gonna have to see when the Transfer Agent gets updated to really see if those shares were converted into Preferred Stock or not.
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