RE:"reduce stated capital account".......... I'm not an accountant but,
surely this is in reference to paid in capital by shareholders less the very large acumulated corporate loss to date equaling present value.
Changes nothing IMO but it make maagement and direstors look less incompetent if we subtract $6 billion fron paid in capital, and subtract $6 billion from accumulated yearly loss over the years.
Q1, 2019 reported results ...
From the "CONSOLIDATED BALANCE SHEETS"
Shareholders’ capital..........................$16,547.8, (millions) = $16 billion.
Contributed surplus.................................$ 31.0 (millions)
Deficit (acumulated yearly losses)......$(10,585.3)(millions) = -$10.5 billion loss
Total shareholders' equity (present)..$6,535.4 (millions) = $6.5 Billions
If we subtract $6 billion from Deficit (acumulated yearly losses) of
$(10,585.3) billion, it gives the impreaaion acumulated Yearly losses are $4.5 billion
Same with total shares of 550 million shared purchased for $16,547.8, (millions) less $6 billion .... = roughly $10.5 billion = $19 / share
please correct me if I am wrong ...
darb wrote: ........any accountant types on this board?
What exactly are we voting on for this $6 billion reduction?