Missing? How bout just a modicum of common sense? PHIL's preferred shares have a par value of $0.001 as clearly documented in the 6/25/2020 Common Amendment on the Wyoming site regardless of what some other page might say. But I say it is irrelevant because the actual value of the shares is likely zero.
There is no possible way anyone has legitimately pledged $500 million to PHIL. That is just ludicrous.