Sep 29 2020, 09:45 AM
QUOTE(kktong83 @ Jul 7 2017, 01:59 PM)
Dear Share expert,
My relatives bought this share for USD2.50 * 10,800 share (About RM120k) , he was told that this company QMIS security is going to get listed in USA for value over USD 8 Market price when listed on NYSE.
But based on his share certificate, he gotten 10,800 share but with par value of $0.001 per share.
Does it means that he got cheated or significantly overpaid for his share? Because based on my knowlege his share cert only worth USD 10.80
Now he tengah panic and ask for my help.
Hope some sifu can help
Yup as one of the forumer explained, the 0.001 is the par value. For share price it is seen at the face value which means what price the share currently trading at. My relatives bought this share for USD2.50 * 10,800 share (About RM120k) , he was told that this company QMIS security is going to get listed in USA for value over USD 8 Market price when listed on NYSE.
But based on his share certificate, he gotten 10,800 share but with par value of $0.001 per share.
Does it means that he got cheated or significantly overpaid for his share? Because based on my knowlege his share cert only worth USD 10.80
Now he tengah panic and ask for my help.
Hope some sifu can help
Regarding the share cert, your relative need to take note it is a restricted shares and subjected to rule 144 SEC , it need to remove the legend before can do DTC and enter brokerage and trade.
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