Being a holder, this is the first stock I've had to have these...

Being a holder, this is the first stock I've had to have these types of announcements. This is how I interpreted it:

A) The reduction of the par value has no direct bearing on the current stock. The par value is the minimum price at which new stock can be issued (refer to wikipedia article).
B) The reverse stock split will reduce the number of shares, raising the price (again, refer to wikipedia article).

What I didn't understand is why the common stock is being reduced from 750M shares to 150M. That's not 10:1.

So I am missing something... any ideas/help appreciated.