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Cool, that's pretty interesting. Can you talk about the sort of other projects xbond will be able to exchange for...Do you have something on the arise at the moment?

Interesting, however :

2. Direct Redemption: Bonds may be redeemed at any time at 95% of face value, 0.00095 for each bond.

With Ukyo/Graet.loan, I can get 100%. Redemption for assets don't help - you still need to face trading fees, so it's not 100%.

Backing
TAT Investments will always reserve a portion of its bitcoin-denominated holdings with a market value that is greater than 100% of the face value of our issued debt in bonds

0.01444

Backing equity will be held in publicly verifiable accounts, and a quarterly transparency report will be provided to detail all backing assets. TAT Investments may use bitcoins or any publicly traded bitcoin security assets as backing.

Disclaimer & Risks
...
Losses caused by default/theft within the host exchange may affect the putability and/or the degree of backing representing this security.

Some questions.

1) please outline the meaning of the word "reserve" in the following passage:
"TAT investments will always reserve a portion of it's bitcoin-denominated holdings... with a market value that is greater than 100% of the face value of our issued debt".

My question revolves around the use of the word reserve without specifying precisely why these funds are reserved. I assume you mean reserve with the intent of consisting of the assets representing the debt or holdings from which the bond will be repaid under a call or redemption order. Or do you mean reserve in the sense that if there is trouble with the actual holdings, said funds will be used as "insurance" for bondholders?

2) "Backing equity will be held in publicly verifiable accounts, and a quarterly transparency report will be provided to detail all backing assets. TAT Investments may use bitcoins or any publicly traded bitcoin security assets as backing."
I believe this identifies the source of the assets backing these bonds as holdings owned by TAT investments, and not owned by any security TAT investments operates. Just asking.

3) if the value of these holdings falls below 100% of the face value of the issued debt, will TAT investments contribute more assets and holdings to ensure the bond's backing, or will this imply a default on the debt?

Ahh, so this is a fixed face value bond which is backed by mining assets.

Thank you :>

One thing I don't understand (because I am slow to understand these things) is why is something like this listed on an exchange? If the face-value is fixed, why would anyone buy or sell at a price that is not the face-value?

One thing I don't understand (because I am slow to understand these things) is why is something like this listed on an exchange? If the face-value is fixed, why would anyone buy or sell at a price that is not the face-value?

The first tranche will be released for sale Friday, August 2nd, at 1PM EST (5PM GMT).

So why not just launch on BTC-TC and BitFunder right away? You're not gaining anything by waiting for the Havelock tranche to finish?

I'm going to have to agree with Tradefortress on this one. While it may be a "different monster", the bottom line is that there are better deals out there that pay back 100% of the initial investment, at any time.

Tradefortress's coinlenders pays 25% APY, BTC-EQTY bonds pay some 22% with interest upfront. etc etc.

Regardless of the amount raised, we already have new offerings in the works. I cannot disclose specifically what they are yet, but consider that in the past 3 months we have issued 4 AM PTs, 3 SMG PTs, 1 PMB, and this bond. We will only issue PTs of stocks we would consider holding ourselves, but surely you will see more. We are also working with a handful of companies that will IPO when the time is right. We are working on other offerings related to Futures, Indexes, etc.

This is all publicly researchable info, I cannot will not prepare a custom report for you.

1st, thank you for your reply. I do think Futures and Indexes would be a positive addition to the marketplace.


What about this famous diplomacy of yours? I am not trying to be unreasonable, if you were applying for a loan, I expect the lenders would want this information. In fact, bond purchasers are the lenders, and I therefore expect you to provide this information before I purchase XBOND.

I considered saying "will not" to be more specific, so you are correct, I will not generate custom reports for you on demand.

We have been very thorough in our description, and if you feel the commitments being offered are not sufficient to balance your risk tolerance, I suggest you do not buy any XBONDs.

No other bitcoin bond issuer offers the level of transparency we are offering combined with features like we are offering (other than maybe Deprived, who keeps things pretty transparent through his fund-issued bonds, but does not offer exchanges).

I got 70

70BTC worth?  Nice!

Any idea when this will open for trading for those of us waiting for our deposits to hit?

If it sells out on Havelock, I won't be in any rush to open it elsewhere. Just taking it one step at a time.

Initial Public Offering (Date to be announced)
The initial public offering will be sold in 4 tranches of 500,000 units each, at a price of 0.001 bitcoins per unit. (2,000,000 units, totaling 2,000btc).
Orders can be placed at https://www.havelockinvestments.com/order.php?symbol=XBOND

I think the 100k share / user max was WAY too high, I logged on at 13:08 and it said closed, 0 remaining.  20% to a single person is kinda outrageous.

lol no 70 shares xD
coinbase didn't sent my btc on time

+1 the limit should be 10k share/user

A moment of silence for the guy who just sold ~2500 shares at 1/10 of the IPO price.

There are 4 tranches of 500,000 ea on offer.

The 2nd tranche was delayed due to me losing all power/web.

I'm operating from my car at the moment!

That's dedication right there!

I didn't realize that the tranches were going to be released so close together I guess.  I'm still somewhat new to this though.

you could of planned it over a timespan instead of screwing over the early investors.

being in the ipo makes no difference if you are just going to sell the remaining units at the same price and with no time for scarcity related price appreciation.

being in the ipo makes no difference if you are just going to sell the remaining units at the same price and with no time for scarcity related price appreciation.

It's a bond, not something you price-speculate on.

Sounds like you wanted to screw people, not me.

Is the last tranch you posted that's 500k/500k the final one?

Several reasons:

1. Emergency liquidity - If you need to sell your bonds for whatever reason, there may be buyers on the market that can provide faster, "cheaper" liquidity at any given moment.
2. Speculation - it is entirely possible for this bond to trade above its face value, because it also provides intangible value with its access to Pre-IPO purchases.
3. Facilitation - The host exchange provides all of the tools needed to manage the bondholders and interacting with them.

It's a bond, not something you price-speculate on.

Sounds like you wanted to screw people, not me.

You said so yourself that it's something to price speculate on... (no offense, just saying) :)

being in the ipo makes no difference if you are just going to sell the remaining units at the same price and with no time for scarcity related price appreciation.

Otherwise, I think most people find that I try to be both diplomatic and a purveyor of progress.

Still wondering what you meant by diplomatic...  :P

Are all future listings to be supported by this bond to be released on Havelock Investments? It seems you have had successful launches there recently (including this bond).

3. Any XBOND on any exchange can be exchanged toward Pre-IPO offerings on any exchange, so long as they are issued by TAT Investments.

It's not as simple as that. The greater issue here is the legitimacy of the market itself.

We care, so we kick and scream. I don't want issuers acting like scammers, or investors buying into scams, regardless of whether I hold shares.

It affects everyone. It affects the value of everything, and bitcoin's health in general.

What I meant about diplomatic is that I do my best to be respectful while being respected, and I try to take people seriously when I'm not sure if they are serious. Being tactful on the internet ain't easy, and people like to make it even more difficult with trolling and dramatic overtures. Being diplomatic while trying to be progressive is even worse, being that many dislike or misunderstand change.


See above, but generally an XBOND sold on any exchange is redeemable to any eligible IPO on any exchange. I'll post Pre-IPO details along with any IPO announcements. These details will include any schedules, specifications or limits (if any).

Maybe i need to do more research, but i find it difficult to see an additional raise of funds close to 200,000 USD worth to TAT , having a hidden email contact on this forum, a gmail only contact on the havelock exchange, let alone thieves in the company name, and no website to be found via google that i can see. do you have a name ? office ?

4th tranch is completely sold out - looking forward to see how this develops!

Please be careful speculating on the price of XBOND.

The callback cost is 105% (0.00105 bitcoins each).

We can issue more bonds at will; and callback can happen at any time.

This means that if you buy an XBOND at greater than 0.00105, you run the risk of loss if it is ever called back before you profit from coupon payments.

I'm guessing this is the reason outstanding shares are listed as 2,018,620?

Both of those haven't sold out their IPO yet so I don't understand why there is such a demand for XBOND.

I encourage and implore TAT investments to take advantage of people's greed and sell into the bid to 0.001/unit. Bidding over face value for a recallable face value bond is probably unwise. There are other places to put your money -- notably Graet.Loan and even Ukyo.Loan which pays 50% more than XBOND. Both of those haven't sold out their IPO yet so I don't understand why there is such a demand for XBOND.

They're both on BitFunder which I would rather avoid (which is understatement - I can't login into WeExchange), they don't offer perks besides interest.
There's also the issue of trusting the issuers.

This statement alone makes me avoid them, why should I invest in something that has such weak interest in it that it can't even sell out the IPO?

Ok, so I have a question. I recently bought some shares and I have the understanding that it pays daily. When I logged onto my havelock account to see what was going on, it stated that XBOND paid out a dividend payment already today. Yet when I looked at my transaction log, it didn't state that there was a dividend deposit.

Was wondering how long or when do dividend payments appear in account?

Working on this with Havelock. I think the div payout was glitched because I moved the funding from the source wallet to another wallet. It was fixed as soon as it was brought to my attention, but this morning's div might need to be manually pushed by Havelock to finish the fix.

Dividend mails keep getting sent today. What's going on?

Who in the world is buying XBOND @ 0.00107700 XBT?

mind blown..

Please be careful speculating on the price of XBOND.

The callback cost is 105% (0.00105 bitcoins each).

We can issue more bonds at will; and callback can happen at any time.

This means that if you buy an XBOND at greater than 0.00105, you run the risk of loss if it is ever called back before you profit from coupon payments.

People who don't pay attention to the callback cost lol

I'm not into bonds, but do you guys feel that anything under .00105 is a value for this bond worth buying?

August 4th, 2013 - Please be careful speculating on the price of XBOND. The callback cost is 105% (0.00105 bitcoins each).

We can issue more bonds at will; and callback can happen at any time.

This means that if you buy an XBOND at great than 0.00105, you run the risk of loss if it is ever called back before you receive 5% in coupon payments.

it looks like he's just releasing shares willy nilly

i noticed there were ~10,000 units above the original 2,000,000 shortly after the IPO, and now it appears there's around ~20,000

brilliant idea for this bond really, ethical issues aside, manipulating the share price by buying and releasing the shares by the issuer would be a cash cow (don't mean to imply this is being done, it just occured to me the other day as the price steadily rose)

people aren't reading, or thinking. Or they know something that I don't (highly possible).

Where would we go to find out about the pre-IPO exchange opportunities? Will they be posted in this thread, or do I have to pay extra close attention to the securities forum?

I bought up 250,000 shares and I'm pretty excited!

IPVO Details

The opening date and time of the IPVO shall be confirmed soon, as we are working to coordinate it's release as best as possible.

LMB Holdings Share Structure
Public investors will hold 9,600,000 LMB Holdings shares (60% of the profits), whilst LMB Subsidiaries Limited (UK) shall hold 6,400,000 shares (40% of the profits), for a total of 16,000,000 LMB Holdings virtual shares, which represent 100% of the global profits of the LMB Subsidiaries Limited (UK).

Investor Protection Plan
The initial 9,600,000 shares of LMB Holdings have the privilege of getting all profits until a total of 0.0035 bitcoins per share has been paid. Following this initial period of protection, dividends will be divided equally amongst all public and private shareholders.

Initial Public Virtual Offering
The underlying asset shall be registered and traded on BitFunder, under the ticker NEOBEE.
TAT.NEOBEE shares will be also sold as depositary receipts in tandem on other exchanges where the asset has been granted approval by LMB Holdings. Shares will be made available to TAT Investments dynamically across all exchanges as the market demands during the IPVO. There are three phases of the IPVO:

Private Tranche - 1,100,000 Shares - Sold privately to Angel Investors

Pre-IPVO Offering - 500,000 Shares @ 0.0025 BTC each
(Pre-IPVO Offering, available only to XBOND holders, see next section)

Public Offering - 8,000,000 Shares @ 0.003 BTC each

XBOND Exchangable Offering
Through partnership with LMB Holdings, TAT Investments has negotiated that the next round of shares be made exclusively to the holders of XBOND as a Pre-IPVO Offering. This offering will be made available for the 72 hours preceding the official IPVO (date to be determined). Any unsold shares from this round will be made available to existing private shareholders.

Pre-IPVO Redemption: Each XBOND unit may exchanged at the full face value, 0.001 bitcoins each, toward the purchase of shares of the underlying asset as released on BitFunder. XBOND holders will have first access to 500,000 shares at the price of 0.0025 bitcoins each. Shares will be allocated on a first come, first served basis according to the instructions below.
Pre-IPVO Redemption Rules & Instructions:
To instigate a redemption exchange for Pre-IPVO this offering, simply transfer your bonds to the the XBOND issuer account within HavelockInvestments.com, Also, please send a corresponding email to tat.investments@gmail.com confirming your desired Pre-IPVO purchase quantity desired, and your account name on the destination exchange.
- Pre-IPVO exchanges will be fulfilled in the order that the full transfer is received. If the Pre-IPVO-eligible share inventory is depleted, any remaining XBOND units will be pushed back to their owner. In this event, dividends earned in the interim will be returned with the XBOND units.
- Pre-IPVO purchases must be paid in full by redeeming XBOND units, and must be an EVEN NUMBER of shares. Bitcoins cannot be used to make up any differences.
- Once a share exchange request is received it is binding.
- Your order may be partially filled if the eligible inventory has been depleted.
- Pre-IPVO shares will provided 3 days after the IPVO opens on BitFunder.

Transfer of Shares
Shares of the underlying asset on BitFunder may be imported or exported into any TAT.NEOBEE passthrough, or the underlying asset on Bitfunder.

There is no minimum quantity for transfers, but any transfer order must pay a 1.0 Bitcoin service fee.

How to Transfer Shares:
Simply push the amount of shares to the issuer account on the source exchange, then send an e-mail to tat.investments@gmail.com noting your account name on the destination exchange you have chosen. Please use the same e-mail address you have registered with the source exchange for verification purposes.

After your shares and request have been received, TAT Investments will push your new shares to your account in approximately 24-48 hours.

NOTE: TAT Investments is not responsible for any lost value, arbitrage, or trading opportunities due to delays in processing transfer requests.

Dividend payments
The global income of LMB Holdings, including operating profits from all LMB Holdings subsidiaries, will be paid to the LMB Holdings shareholders proportionally, after all operating, growth and miscellaneous expenses are deducted. The 9,600,000 public shares will receive the first dividends up to the value of 0.0035BTC/share, providing public investors a priority in receiving a minimum of 100% return on their investment. Dividend payments will be made on the last working day of each quarter at midnight (GMT+2).

Voting Rights
Shareholders in LMB Holdings do not have explicit voting rights. Any questions or concerns will be answered within 24 hours through our own investor relations website.

How to Transfer Shares:
Simply push the amount of shares to the issuer account on the source exchange, then send an e-mail to tat.investments@gmail.com noting your account name on the destination exchange you have chosen. Please use the same e-mail address you have registered with the source exchange for verification purposes.

This has me confused, because it appears I would get to choose the destination exchange.

In the NEOBEE thread you have said we can redeem this for bitfunder only.  To be clear: am I unable to redeem xbond shares for their equivalent NEOBEE shares on havelock, and I must sign up for bitfunder? (which I understand has been having some issues lately)

Correct.  However, you may have your NEOBEE shares transferred to Havelock for a BTC1.0 fee.

I was hoping TAT would chime in here, since the language in his write-up is ambiguous-- which led me astray.  Thankfully, a couple buy orders for XBOND never filled, or I would be very upset about this.

8. To specify minimum or maximum redemption terms and eligibility for Pre-IPVO redemptions

Hello

I am sorry if this has been answered before on this thread
but I am really busy with my real work to go through all the posts

 Q: I have a few XBonds and I would like to participate in the Neo&Bee Pre-IPVO  but I don't get the instructions given

"Pre-IPVO Redemption Rules & Instructions (for Neo&Bee):
To instigate a redemption exchange for Pre-IPVO this offering, simply transfer your bonds to the the XBOND issuer account within HavelockInvestments.com, Also, please send a corresponding email to tat.investments@gmail.com confirming your desired Pre-IPVO purchase quantity desired, and your account name on the destination exchange."

when I look at my portfolio on  HavelockInvestments.com there is an xrf link
this links to a page where you can
1. transfer the xbonds to the issuer
    is that HavelockInvestments.com (the xbond issuer) or tat.investments@gmail.com (the stock issuer) 
2. transfer the xbonds to an email address of a user of HavelockInvestments.com (tat.investments@gmail.com ? )

I also found under the "Public Offerings" tab on xbond's (main) page
an (I)PO which probably is for Neo&Bee shares (same date same time)
which states
3. A 'Buy Now' link will appear to the right of the offering once the public offering begins. You will need to refresh this page to see it!

which is the proper way to exchange my xbonds for the Neo&Bee pre-IPVO  1 (probably not) , 2 or 3?

Thank you for your time

P.S.
if the answer is No2
How can I be sure that tat.investments@gmail.com is a user of HavelockInvestments.com?

Something that may be worth clarifying now - to potentially avoid butt-hurt later - is what the procedure would be if there was oversubscription prior to release.  i.e. if total bids at/above list price on the three exchanges added up to more than available shares.  Would you:

a) Fill bids on all exchanges above list price then split rest in proportion to orders on each book.
b) Fill one (or more) exchange before others - specifically would you fill orders on the 'main' exchange before filling orders on the pass-throughs.

What the plan is has obvious implications for those with the ability to place orders on multiple exchanges (though only if it looks likely that bids will exceed supply of course).

In the case of oversubscription, shares will be sold proportionally according to total bid amounts, in bitcoins, on each exchange at the start of the IPVO.

For example: If there are 20000btc on BTCT, 10000btc on Havelock, and 5000btc on Bitfunder, each exchange would be sold approximately 57.1%, 28.6%, 14.3%, respectively.

This cannot be exact due to bids changing at any moment, but we'll do our best to keep it fair (proportional) in such a case.

Please do not confuse this with a Dutch style auction (like Labcoin). The price per share would not change in this case, other than if bidders choose to raise their own bids.

Certainly, I addressed this earlier today in the main thread, but it is closest to a).

Here is what we decided:


Original comment is here: https://bitcointalk.org/index.php?topic=289730.msg3166320#msg3166320

Ah thanks - missed that.

One minor clarification you should probably make to it is that you'd only consider bids at/above the list price when evaluating total bids on each exchange.  i.e. I couldn't, for example, sling up a huge bid at below official price to ensure maximum allocation to the exchange of my choice (something which I'd quite happily do IF I was bidding and there was oversubscription to ensure my order got filled).

2. Even if you are okay with the above point, and just want to lock in shares early, please realize that the Pre-IPVO round is limited to 500,000 shares and may sell out also.

6. The Pre-IPVO BitFunder shares will not be delivered until September 23, 2013 - three days after the IPVO round begins.

- The Xfer link offers an option to push the bonds to the issuer, that is what you should choose tomorrow after the Pre-IPVO starts.
- While the tat.investments@gmail.com is well-established as the current official email, you don't actually have to entrust it with any equity in this process. You are merely emailing to confirm you pushed the bonds to the issuer, confirm how many NEOBEE shares you expect to received for those bonds, and confirm your BitFunder account name so we can push the NEOBEE shares to you when ready.
- The NEOBEE offeriing on Havelock is not fully set up yet, but will be set up to enable pre-bidding before the official IPVO round (after the Pre-IPVO round).

- The Xfer link offers an option to push the bondsto  the issuer, that is what you should choose tomorrow after the Pre-IPVO starts.

Will the exchanged bonds be sold back on the exchange or will they simply be removed from circulation?

https://www.havelockinvestments.com/20131101-announcement.php

FOR IMMEDIATE RELEASE

November 1, 2013 - Havelock Investments (HavelockInvestments.com), a leading Bitcoin Denominated Investment Fund, announced today that it has executed a definitive agreement to be acquired by The Panama Fund, S.A, a fully licensed and registered Panamanian Investment Company.

The acquisitions creates the world's first, fully licensed, Bitcoin Denominated Fund Exchange, where companies from around the world will be able to raise capital directly, through the exclusive use of Bitcoins.

With this acquisition HavelockInvestments.com will be able to maintain its current Funds, as well as expand its operations, while attracting new opportunities in the rapidly expanding Bitcoin Marketplace.

The original HavelockInvestments.com team will remain in place and will play a key role in the future growth of the company.

Hello

why no daily dividend on yesterday 9 october and today (10 october) ?

There appears to be some technical error in Havelock's dividend system. They will likely address it tomorrow.

what's the status of the buyback?

We still have budget to buy more back, for anyone that wants to redeem now.

have you filled the original 500 btc target?  If not, will you fill what you need, or are we looking at a forced buyback soon?

Is TATI going to do any forced buyback of XBOND?
Possibly, we are trying this to see if any mutually beneficial redemptions can be made. If not, as always, TATI reserves the right to to do a partial proportional recall from all holders, or a full recall, at any time.

We have not filled the target yet.

My only regret is not buying more. I can only hope more bonds of this quality follow.

And this is why you should never buy this type of bonds above their buy-back value. You never know when one of these operators is going to "cleanly" shut down and screw you out of your money.

And this is why you should never buy this type of bonds above their buy-back value. You never know when one of these operators is going to "cleanly" shut down and screw you out of your money.

And this is why you should never buy this type of bonds above their buy-back value. You never know when one of these operators is going to "cleanly" shut down and you lose money.

So where's everyone migrating for a nice and steady investment?

Paper wallets.

Paper wallets.