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Title: [GLBSE] MPOE ETF - September Financial Report Available Post by: smickles on March 06, 2012, 04:50:11 AM *Note* This is not an exchange traded fund by the typical financial definition. This is a fund, in the financial sense, which is traded on the exchange GLBSE.
I am pleased to announce the creation on the Mircea Popescu's Option Emporium Exchange Traded Fund. GLBSE ticker: MPOE.ETF Financial Statements
Chart: https://glbse.com/asset/view/MPOE.ETF (https://glbse.com/asset/view/MPOE.ETF) Quote from: original_post As you may know, Mircea Popescu's Option Emporium (http://polimedia.us/bitcoin/options.php) (MPOE) has gone public, however, he did it on his own. I'm sure many of us would like to be able to trade stock in MPOE on an exchange, so I decided to create this fund to satisfy this desire. Below is a copy of the terms of each certificate. It outlines exactly how it works. Feel free to ask any questions. You may also catch me in #bitcoin-otc or various other bitcoin channels on freenode as smickles. Quote The owner of this certificate (here after know as "THE OWNER") holds one share of MPOE ETF (hereafter know as "THE FUND"). Each share of THE FUND entitles its owner to a distribution of the net gains (hereafter know as "THE DIVIDEND") generated by THE FUND. Each share of THE FUND does not convey any voting rights. THE FUND will attempt to generate gains by investing its capital in the stocks of Mircea Popescu's Options Emporium (http://polimedia.us/bitcoin/options.php) (hereafter know as "THE INVESTMENT"). THE FUND will raise capital by issuing stock and retaining earnings. The initial issuance of stock will be in an amount to meet demand at a price of 0.1 BTC per share and will be offered until the public offering of THE INVESTMENT on March 31, 2012. Going forward Stock will be issued in an amount to meet demand during a period of 7 days prior to each public offering of THE INVESTMENT. These future issuances will be offered at a price equal to the average of 7 days market value of THE FUND previous to the first day of each issuance period. Net gains will be equal to gross gains less expenses and retained earnings. Gross gains will be equal to any dividends received from THE INVESTMENT, as well as any profit from sale of portions of THE INVESTMENT. Expenses will be an initial, single occurrence, of 20 BTC as a listing fee which will be recouped from the capital gained by the initial issuance of stock, and, going forward equal to 1% of gross gains. Retained earnings will be equal to 49% of gross gains. THE DIVIDEND will be equal to 50% of gross gains and will be paid on the 15th of each month starting April 15th, 2012. THE FUND had received the approval of Mircea Popescu himself. Any modification of these terms shall be subject to the bylaws presented at (http://mostofmany.com/mpoe-etf/bylaws.html). Quote -----BEGIN PGP SIGNED MESSAGE----- Hash: SHA1 To all concerned, my name is Michael Carver. I go by smickles on http://bitcointalk.org and I also go by the name smickles on #bitcoin-otc on freenod. I use the Web of Trust which is associated with that channel as the user smickles. -----BEGIN PGP SIGNATURE----- Version: GnuPG v1.4.11 (GNU/Linux) iQIcBAEBAgAGBQJPVZW9AAoJEOpi186yRQw/5kQQALy2Pp29wh2Siu/n2lY9Qyhs EmpCvz/xiMiqzb6A5NHG07x7162hw2KMFF4HjOQiv87ZxwlLUtkSzz9w8+WdikUi oe5+nooYzRZrPhP9NLa41VUkYcvxZIgx2CQ4BoDVQ/VtbqwzNXe+95Err6JtL+x1 5tBN7Vw7pmjeXRa3lR8fEV8fmHeGQOOs9HZxu6H4+ZFsFZQNrOfboTTR4fyd93Qb VthyU2Q3/+M87kUQwkXvTKOi8akQzVanLmGd46lKUD5It99TFNiN64QBsNqZ9tY6 QOK1aPg+dPfs7Hfowz8vWdrjez8tPemyAt1/lwIh9MZ9TdCUvGy1StIVDQml88YQ nvQQf4ISsDJXaD6mBLwFeEYJy+k5E7Ua5KMvFd1ouIpY/N2mMUpZXQCCoDldmNsi HdnLXX23s6vYpLutSVAo6iSW44Tqxh/3dHM0N4DrJ+blG7uByvRsrcU857X/68SQ Gv5Yx/Q5pZiOGhR9XynbAul34TLTFA6MNjAahOym9LaiQ/LoTUh4jxXx35gQGmZ/ W6O5Bzbky/XDL3DZTSatdB6Vv72VXFuPXq10kh36PsimRNP/rBEILk4dh+N+IP5W WXSPlZn9Kv4uZf2msxX5qRKp+2UuP/VGexuMDbf3R7NT6cBAcBxHsm35UsUvXAcb aD0Yg04rSaDY1USj7D/Y =ppzN -----END PGP SIGNATURE----- Title: Re: [ANN] MPOE ETF - Mircea Popescu's Option Emporium Exchange Traded Fund Post by: brendio on March 06, 2012, 05:14:51 AM Can you clarify if I have this correct: MPOE.ETF will raise funds through GLBSE prior to each new release of MPOE stock. All funds raised will then be sent to MPOE to gain an allocation of stocks.
Will you also be seeking to source MPOE stock on the secondary market (i.e. current stock holders looking to unload) and offering stock to others on the secondary market? You could act as a market maker for MPOE stocks and profit from the spread. I'm interested in MPOE stock, but I won't do it without knowing what price I'm paying. As far as I see, this ETF still doesn't provide that, yet. Once it builds up a sizable holding and the ratio of stocks held in the ETF to new stocks purchased each month it will be easier to ascertain market price. Title: Re: [ANN] MPOE ETF - Mircea Popescu's Option Emporium Exchange Traded Fund Post by: smickles on March 06, 2012, 05:20:50 AM Can you clarify if I have this correct: MPOE.ETF will raise funds through GLBSE prior to each new release of MPOE stock. All funds raised will then be sent to MPOE to gain an allocation of stocks. Yes, MPOE.ETF will raise funds prior to each new release of MPOE stock. All funds raised plus any retained earning will go to the subsequent MPOE offering, or if it's in the financial interest of the fund, some/all available funds may be apportioned to a purchase on the secondary market.Will you also be seeking to source MPOE stock on the secondary market (i.e. current stock holders looking to unload) and offering stock to others on the secondary market? You could act as a market maker for MPOE stocks and profit from the spread. I'm interested in MPOE stock, but I won't do it without knowing what price I'm paying. As far as I see, this ETF still doesn't provide that, yet. Once it builds up a sizable holding and the ratio of stocks held in the ETF to new stocks purchased each month it will be easier to ascertain market price. Your are correct, this ETF doesn't provide a price for MPOE stock /yet/. But it soon will. Title: Re: [ANN] MPOE ETF - Mircea Popescu's Option Emporium Exchange Traded Fund Post by: smickles on March 07, 2012, 01:59:57 AM Hmm, did I post this in the wrong forum? Would the 'Bitcoin Forum > Economy > Marketplace' have been a better choice?
Title: Re: [ANN] MPOE ETF - Mircea Popescu's Option Emporium Exchange Traded Fund Post by: finway on March 07, 2012, 08:50:00 AM Interesting.
Title: Re: [ANN] MPOE ETF - Mircea Popescu's Option Emporium Exchange Traded Fund Post by: MPOE-PR on March 07, 2012, 08:51:20 AM This is to certify that Michael Carver did ask Mircea Popescu for his thoughts on the ETF and Mircea Popescu saw no problem with it.
Good luck in your venture smickles :) Title: Re: [ANN] MPOE ETF - Mircea Popescu's Option Emporium Exchange Traded Fund Post by: HorseRider on March 07, 2012, 12:36:20 PM Won't invest in this until the deal structure is more transparent. What if all the money you pay for the ETF just get 1% of the MPOE company? And the IPO process will be longer since everyone here is aware of such big issue. So maybe MPOE should help both Mircea and us by offering the ETF a clear price.
Title: Re: [ANN] MPOE ETF - Mircea Popescu's Option Emporium Exchange Traded Fund Post by: MPOE-PR on March 07, 2012, 01:49:33 PM Isn't this a little akin to asking a farmer for financing and a bank for milk and grain? A company builds, the market prices. Not the other way around.
Title: Re: [ANN] MPOE ETF - Mircea Popescu's Option Emporium Exchange Traded Fund Post by: smickles on March 07, 2012, 03:05:56 PM Won't invest in this until the deal structure is more transparent. What if all the money you pay for the ETF just get 1% of the MPOE company? And the IPO process will be longer since everyone here is aware of such big issue. So maybe MPOE should help both Mircea and us by offering the ETF a clear price. Mircea is not offering the ETF. I am. Also, the initial offering of the ETF is at a clear price of 0.1 BTC per share.All the money you pay for the ETF could theoretically garner the ETF controlling 1% of MPOE, and in that case the ETF would receive 1% of the dividends from MPOE, the rest is laid out in the terms of the ETF certificate which is quoted in the OP. The deal structure is the terms of the contract and I'm having a hard time deciding what you think is obscured in it. Can you be a little more specific? (I mean this sincerely) Title: Re: [ANN] MPOE ETF - Mircea Popescu's Option Emporium Exchange Traded Fund Post by: brendio on March 09, 2012, 03:44:57 AM Will all IPO funds in each round be used in full for each round of the MPOE public offering or will you monitor funds already sent to the PO and do your own valuation? MP himself said he thought the first round IPO of MPOE was overbought. If you get 100 BTC by April, will you send the lot for even more overvalued MPOE shares?
Title: Re: [ANN] MPOE ETF - Mircea Popescu's Option Emporium Exchange Traded Fund Post by: smickles on March 09, 2012, 12:50:51 PM Will all IPO funds in each round be used in full for each round of the MPOE public offering or will you monitor funds already sent to the PO and do your own valuation? MP himself said he thought the first round IPO of MPOE was overbought. If you get 100 BTC by April, will you send the lot for even more overvalued MPOE shares? My intention was to hold an amount of capital raised for a variety of reasons, one of which would be to ensure avoidance of purchasing overpriced stock via public offerings. As mentioned earlier, the fund may want to take advantage of under-priced stock on the secondary market, and, in order to successfully attain said stock, there would need to be BTC on hand.If knowledge of the amount of BTC held for these -or other- purposes is a concern, bylaws can be written to explicitly state the percentage, or sum, of BTC held. If the general concept of this is a concern, even thought shares do not technically convey voting rights, bylaws can be written to allow for a shareholder decision of the amount of funds to be held in this manner if any at all. Title: Re: [ANN] MPOE ETF - Mircea Popescu's Option Emporium Exchange Traded Fund Post by: memvola on March 09, 2012, 01:39:33 PM If knowledge of the amount of BTC held for these -or other- purposes is a concern, bylaws can be written to explicitly state the percentage, or sum, of BTC held. GLBSE says that the asset has been frozen, and I can't find the asset contract. Is it because the bylaws are being modified? Sorry, I don't know how it works so I had to ask. Title: Re: [ANN] MPOE ETF - Mircea Popescu's Option Emporium Exchange Traded Fund Post by: smickles on March 09, 2012, 01:50:05 PM If knowledge of the amount of BTC held for these -or other- purposes is a concern, bylaws can be written to explicitly state the percentage, or sum, of BTC held. GLBSE says that the asset has been frozen, and I can't find the asset contract. Is it because the bylaws are being modified? Sorry, I don't know how it works so I had to ask. Title: Re: [ANN] MPOE ETF - Mircea Popescu's Option Emporium Exchange Traded Fund Post by: smickles on March 09, 2012, 01:54:48 PM If knowledge of the amount of BTC held for these -or other- purposes is a concern, bylaws can be written to explicitly state the percentage, or sum, of BTC held. GLBSE says that the asset has been frozen, and I can't find the asset contract. Is it because the bylaws are being modified? Sorry, I don't know how it works so I had to ask. Title: Re: [ANN] MPOE ETF - Mircea Popescu's Option Emporium Exchange Traded Fund Post by: MPOE-PR on March 09, 2012, 01:56:16 PM Quote If knowledge of the amount of BTC held for these -or other- purposes is a concern, bylaws can be written to explicitly state the percentage, or sum, of BTC held. Maybe a good idea is to hold a shareholder vote in the IPO week, decide how much capital to put in that way.Title: Re: [ANN] MPOE ETF - Mircea Popescu's Option Emporium Exchange Traded Fund Post by: smickles on March 09, 2012, 06:16:26 PM If knowledge of the amount of BTC held for these -or other- purposes is a concern, bylaws can be written to explicitly state the percentage, or sum, of BTC held. GLBSE says that the asset has been frozen, and I can't find the asset contract. Is it because the bylaws are being modified? Sorry, I don't know how it works so I had to ask. https://bitcointalk.org/index.php?topic=68039.0 is a link to the email from nefario. I am still trying to resolve this issue. Title: Re: [ANN] MPOE ETF - Mircea Popescu's Option Emporium Exchange Traded Fund Post by: Nefario on March 09, 2012, 07:16:53 PM Issue has been resolved, asset is trading again.
smickles account and asset were temporarily frozen, what looked like suspicious activity to me was mainly due to me not knowing the network of trust that smickles belonged to. His OTC rating is available here: http://bitcoin-otc.com/viewratingdetail.php?nick=smickles Nefario. Title: Re: [ANN] MPOE ETF - Mircea Popescu's Option Emporium Exchange Traded Fund Post by: smickles on March 09, 2012, 08:44:31 PM Issue has been resolved, asset is trading again. Yes, indeed, all seems back to normal.smickles account and asset were temporarily frozen, what looked like suspicious activity to me was mainly due to me not knowing the network of trust that smickles belonged to. His OTC rating is available here: http://bitcoin-otc.com/viewratingdetail.php?nick=smickles Nefario. Title: Total Shares sold so far Post by: smickles on March 10, 2012, 11:01:47 PM The fund has so far sold 237 shares raising 23.7 BTC.
Title: Re: [ANN] MPOE ETF - Mircea Popescu's Option Emporium Exchange Traded Fund Post by: smickles on March 12, 2012, 12:25:51 AM The fund has so far sold 287 shares raising 28.7 BTC.
Title: Re: [ANN] MPOE ETF - Mircea Popescu's Option Emporium Exchange Traded Fund Post by: 2weiX on March 12, 2012, 10:26:21 AM Hi,
I am by no means trying to hijack, I just wanted to point out that I wrote a short bit about ETFs and would like to invite you to read it and maybe chime in: https://bitcointalk.org/index.php?topic=68365.0 It seems that this is not an ETF, it's more like a bond? Title: Re: [ANN] MPOE ETF - Mircea Popescu's Option Emporium Exchange Traded Fund Post by: MPOE-PR on March 12, 2012, 01:17:20 PM Why does it seem it is "like a bond"?
Title: Re: [ANN] MPOE ETF - Mircea Popescu's Option Emporium Exchange Traded Fund Post by: 2weiX on March 12, 2012, 01:21:23 PM Why does it seem it is "like a bond"? because its sole reason to exist is to raise money for another project, which isn't usually (at all) an ETFs directive. also, it aggregates some money (unlike bonds) but also pays dividends (interest), much like bonds. Title: Re: [ANN] MPOE ETF - Mircea Popescu's Option Emporium Fund Post by: MPOE-PR on March 12, 2012, 02:03:13 PM From what I understand it raises capital (like a fund) to buy stocks (like a fund).
Title: Re: [ANN] MPOE ETF - Mircea Popescu's Option Emporium Fund Post by: 2weiX on March 12, 2012, 02:08:51 PM From what I understand it raises capital (like a fund) to buy stocks (like a fund). mise well be, the mechanisms to issue more shares and rise capital are not the ones of an ETF in and by itself. So it's more of an SPV (special purpose vehicle). as an ETF-trader I cannot try NOT to nitpick in this regard, as the term ETF has some defining qualities to it that this product simply doesn't fulfill. Title: Re: [ANN] MPOE ETF - Mircea Popescu's Option Emporium Exchange Traded Fund Post by: smickles on March 12, 2012, 02:39:42 PM Hi, Clearly, by your explanation, this is not an ETF.I am by no means trying to hijack, I just wanted to point out that I wrote a short bit about ETFs and would like to invite you to read it and maybe chime in: https://bitcointalk.org/index.php?topic=68365.0 It seems that this is not an ETF, it's more like a bond? Quote from: 2weiX So it's more of an SPV (special purpose vehicle). I wonder why you don't consider it, simply, a fund (http://en.wikipedia.org/wiki/Collective_investment_scheme)EDIT: In any case, for the sake of transparency, there is no mechanism whereby I can change the ticker name or the text of the contract. So, unfortunately, the characters "ETF" must stay in both of those. I would like to point out that, in neither, does it actually use the words "exchange traded fund". Title: Re: [ANN] MPOE ETF - Mircea Popescu's Option Emporium Fund Post by: MPOE-PR on March 12, 2012, 03:19:08 PM Quote So, unfortunately, the characters "ETF" must stay in both of those. I would like to point out that, in neither, does it actually use the words "exchange traded fund". Seems like a minor issue in any case. It's a fund, it's traded on the exchange, that's that. Not the first semantic innovation to follow in the wake of bitcoin revolution.Title: Re: [ANN] MPOE ETF - Mircea Popescu's Option Emporium Fund Post by: 2weiX on March 12, 2012, 03:21:46 PM Quote So, unfortunately, the characters "ETF" must stay in both of those. I would like to point out that, in neither, does it actually use the words "exchange traded fund". Seems like a minor issue in any case. It's a fund, it's traded on the exchange, that's that. Not the first semantic innovation to follow in the wake of bitcoin revolution.I am in no way discrediting your service. I am just pointing out that calling it an "ETF" is like calling aluminum "silver" :-D Title: Re: [ANN] MPOE ETF - Mircea Popescu's Option Emporium Fund Post by: smickles on March 12, 2012, 03:29:52 PM Quote So, unfortunately, the characters "ETF" must stay in both of those. I would like to point out that, in neither, does it actually use the words "exchange traded fund". Seems like a minor issue in any case. It's a fund, it's traded on the exchange, that's that. Not the first semantic innovation to follow in the wake of bitcoin revolution.I am in no way discrediting your service. I am just pointing out that calling it an "ETF" is like calling aluminum "silver" :-D Thank you :) Title: Re: [ANN] MPOE ETF - Mircea Popescu's Option Emporium Fund Post by: smickles on March 12, 2012, 11:17:52 PM Earlier we were discussing the possibility of new bylaws whereby shareholders would be allowed to decide the amount of capital raised to be put toward MPOE public offerings -and, de facto decide the amount of capital held for later offerings or secondary market acquisitions-. Were there any shareholders or potential shareholders who would like to continue this discussion?
Title: Re: [ANN] MPOE ETF - Mircea Popescu's Option Emporium Fund Post by: smickles on March 13, 2012, 02:42:42 AM I have updated the OP with a couple of notes.
Title: Re: [ANN] MPOE ETF - Mircea Popescu's Option Emporium Fund Post by: smickles on March 13, 2012, 03:20:32 PM The GLBSE charts have not updated for some time now, however
The fund has sold 336 shares, raising 33.6 btc so far. Edit: 150 of these shares were sold through the depositary receipt I offer Title: Re: [ANN] MPOE ETF - Mircea Popescu's Option Emporium Fund Post by: smickles on March 14, 2012, 05:18:30 PM The fund has sold 420 shares so far, raising 42 BTC.
Title: Re: [ANN] MPOE ETF - Mircea Popescu's Option Emporium Fund Post by: MPOE-PR on March 14, 2012, 06:45:19 PM None of this is showing up on the charts, strange...
Title: Re: [ANN] MPOE ETF - Mircea Popescu's Option Emporium Fund Post by: smickles on March 14, 2012, 11:23:07 PM None of this is showing up on the charts, strange... Yes it is strange. That's part of the reason why I have been announcing the number of shares sold. It seems that none of the charts on GLBSE are updating, however, up to date data can be seen once logged in. Title: Re: [ANN] MPOE ETF - Mircea Popescu's Option Emporium Fund Post by: Nefario on March 15, 2012, 02:09:07 PM I'm just after getting back from London(gone since Tuesday), indeed charts.glbse.com is not showing any updates since the 12th.
For the moment, all the latest trades for GLBSE can be found on it's twitter feed here (http://twitter.com/#!/GLBSE/). I'm contacting the operator of charts to find out what the story is. Nefario Title: Re: [ANN] MPOE ETF - Mircea Popescu's Option Emporium Fund Post by: smickles on March 15, 2012, 03:37:59 PM I'm just after getting back from London(gone since Tuesday), indeed charts.glbse.com is not showing any updates since the 12th. Thanks for the update Nefario. I don't think I knew about the twitter account.For the moment, all the latest trades for GLBSE can be found on it's twitter feed here (http://twitter.com/#!/GLBSE/). I'm contacting the operator of charts to find out what the story is. Nefario Title: Re: [ANN] MPOE ETF - Mircea Popescu's Option Emporium Fund Post by: MPOE-PR on March 15, 2012, 04:03:01 PM Well it's fixed now whatever it was.
Title: Re: [ANN] MPOE ETF - Mircea Popescu's Option Emporium Fund Post by: Nefario on March 18, 2012, 11:21:10 PM GLBSE2.0 will be launching tomorrow, easy instructions on what to do (to migrate) will be provided.
Nefario. Title: Re: [ANN] MPOE ETF - Mircea Popescu's Option Emporium Fund Post by: smickles on March 19, 2012, 01:32:50 AM GLBSE2.0 will be launching tomorrow, easy instructions on what to do (to migrate) will be provided. Thanks for the update :)Nefario. So far the fund has sold 460 shares raising 46 btc. Title: Re: [ANN] MPOE ETF - Mircea Popescu's Option Emporium Fund Post by: smickles on March 20, 2012, 09:33:24 PM The fund has so for sold 466 shares, raising 46.6 BTC.
Title: Re: [ANN] MPOE ETF - Mircea Popescu's Option Emporium Fund Post by: MPOE-PR on March 20, 2012, 11:13:38 PM How come no trades show on glbse since the 13th?
Title: Re: [ANN] MPOE ETF - Mircea Popescu's Option Emporium Fund Post by: smickles on March 20, 2012, 11:17:22 PM How come no trades show on glbse since the 13th? That would be a good question to ask Nefario or (specifically) whoever runs the charts for GLBSE.Title: Re: [ANN] MPOE ETF - Mircea Popescu's Option Emporium Fund Post by: Nefario on March 21, 2012, 02:29:12 PM How come no trades show on glbse since the 13th? That would be a good question to ask Nefario or (specifically) whoever runs the charts for GLBSE.Charts has stopped working, and won't be back up, in the meantime you can see the latest trades on our twitter stream here (https://twitter.com/#!/GLBSE). To get information on asks/bids login to GLBSE, select asset and enter the asset name. Title: Re: [ANN] MPOE ETF - Mircea Popescu's Option Emporium Fund Post by: smickles on March 23, 2012, 09:59:28 PM The fund has, so far, sold 476 shares, raising 47.6 BTC.
Title: Re: [ANN] MPOE ETF - Mircea Popescu's Option Emporium Fund Post by: smickles on March 25, 2012, 05:16:38 PM The Fund has made the transition to GLBSE v2.0.
So far we have sold 486 shares, raising 48.595 BTC. This divergence in the relationship between share amount and BTC raised is due to a new fee charged by GLBSE. For each share sold, The Fund will now be charged a fee of 0.5% of the value of the sale. Title: Re: [ANN] MPOE ETF - Mircea Popescu's Option Emporium Fund Post by: MPOE-PR on March 25, 2012, 07:18:45 PM Nice going!
Title: Re: [ANN] MPOE ETF - Mircea Popescu's Option Emporium Fund Post by: smickles on March 31, 2012, 01:03:46 AM MPOE has posted their March financial report showing a profit of approximately 110 BTC for the month.
http://polimedia.us/trilema/2012/mpoe-rezultate-martie-2012/ Quote Operational results Over 3 'Contracts 587, of Which a `CALL 893 -100, 394` 200 PUT -1. Received: 2 `504.45113888 BTC . expended: 1 `891.81938897 BTC , including: owed to Customers, 1 `770.97441517 BTC Capital Expenses: 50.84497380 BTC (1 `893 + 662.02380952 BTC BTC) × 1.99% Advertising Expenses: 70 BTC Third parties Covering shorts: +501.84210500 BTC (BTC 501.84210500 total). Profit: 110.78964491 BTC Shareholders table Total shares: 1 `000` 000 `000, of which: 12fmA1LuYpXqGzguWmDV7efRAHwrUcxxy8, 1 `100 1LH8pRGWtgVWAw13Tqc8H3iys4mmKYygB3, 330 `214 142Y7SccDv471NirBJoWpsDo9yLQgd92r5, 22 `014 1CMeG8KzxzYRjRQS7BzfsMbW2b2FPf4RHw, 55 `035 1MqrNNoRrtyJiv5HnBNEG2hb3itae7Pdt8, 165 `107 1BvaoNBkNFkaHLUavJFAXRRrnxjqfdJYW6, 88 `057 1GUpLZyMMBR7hig5zxnzfLabMXGay7JmXp, 55 `035 17W4tjwJwPSJBDAA2uav2xuoj8cAocitxV, 110 `071 1JdSigiyLRXiBingciXegfGWAjdzLW1AAH, 173 `362 Mircea Popescu, 999 `000` 005 Total Dividends: 110.78964491 BTC (1 min per share block: 1.10789644 BTC). Bondholders table Total retained capital: 2 `555.02380952 BTC, of Which 1HLWcPokYJixh6BsJH9JWa8MzDaGSLGDds, 100.00000888 BTC@1.99% 1NcrEUkRzqQaAEGabZKPTZhArzhJvYNGWh, 100.00000888 BTC@1.99% 1CkEwsGgZ9saNRmr5FnbtYJjnLBdgGpS7J, 100.00000888 BTC@1.99% 1J9AN7LiDNDUfzAwk8D3uBLT5diWHFFCh5, BTC@1.99% 1000.00000888 17KZZq1Q8dD3no2 × 9Ww2XqVVq6aw1JB69Q, 50.00000888 BTC@1.99% 1swAzHw1zTWqoi5184VinvUxLWnBskPVW, BTC@1.99% 1205.02376512 To cover: 0 BTC per BTC Loss: 0.0 Final bondholder list: 1HLWcPokYJixh6BsJH9JWa8MzDaGSLGDds, 100.00000888 BTC 1NcrEUkRzqQaAEGabZKPTZhArzhJvYNGWh, 100.00000888 BTC 1CkEwsGgZ9saNRmr5FnbtYJjnLBdgGpS7J, 100.00000888 BTC 1J9AN7LiDNDUfzAwk8D3uBLT5diWHFFCh5, BTC 1000.00000888 17KZZq1Q8dD3no2 × 9Ww2XqVVq6aw1JB69Q, 50.00000888 BTC 1swAzHw1zTWqoi5184VinvUxLWnBskPVW, BTC@1.99% 2000.00000888 Mircea Popescu (lender of last resort), 2% Miscellaneous 4 `000` 000 shares through public subscription Offered through the 6th of April ( more info ). Title: Re: [ANN] MPOE ETF - Mircea Popescu's Option Emporium Fund Post by: smickles on March 31, 2012, 05:46:39 PM There are about 6 hours left in MPOE.ETF's initial public offering, so if you are interested in buying from the offering please do so soon.
So far the fund has sold 589 shares. Title: Re: [ANN] MPOE ETF - Mircea Popescu's Option Emporium Fund Post by: smickles on April 01, 2012, 10:34:06 PM Final count for the IPO:
The fund sold 610 shares, raising a total of 61 BTC, less the trade fee expenses, this comes to 60.93525 BTC. 54.84171999 BTC will be used for the MPOE subscription. The remaining BTC will be held for potential secondary market investment and payment of fees. Congratulations to the shareholders for a successful IPO. :) Title: Re: [ANN] MPOE ETF - Mircea Popescu's Option Emporium Fund Post by: smickles on April 02, 2012, 01:04:45 AM 54.84171999 BTC will be used for the MPOE subscription. This transaction can be seen here (http://blockchain.info/tx-index/3622733/8d6c3595f76d101003b1c09810d2b0f5108ea2952cdf873e460fe94049143c2c).Title: Re: [ANN] MPOE ETF - Mircea Popescu's Option Emporium Fund Post by: Stephen Gornick on April 02, 2012, 08:22:11 AM 54.84171999 BTC will be used for the MPOE subscription. Is that at a set bid price? i.e, Is it known yet how many of those 4,000,000 MPOE shares this 54.841719999 BTC will buy? Title: Re: [ANN] MPOE ETF - Mircea Popescu's Option Emporium Fund Post by: brendio on April 02, 2012, 11:38:47 AM 54.84171999 BTC will be used for the MPOE subscription. Is that at a set bid price? i.e, Is it known yet how many of those 4,000,000 MPOE shares this 54.841719999 BTC will buy? No, MPOE's IPO don't work that way (which is why I have avoided them so far). Title: Re: [ANN] MPOE ETF - Mircea Popescu's Option Emporium Fund Post by: smickles on April 02, 2012, 02:07:14 PM 54.84171999 BTC will be used for the MPOE subscription. Is that at a set bid price? i.e, Is it known yet how many of those 4,000,000 MPOE shares this 54.841719999 BTC will buy? Basically, the way MPOE offerings work, everyone who is interested pays what they are willing to pay and at the end of the offering each payment is given a proportional amount of shares based on the relative amount that they paid in comparison to the total payments made. Title: Re: [ANN] MPOE ETF - Mircea Popescu's Option Emporium Fund Post by: smickles on April 06, 2012, 12:37:10 AM I just verified some of the details (photo ID, home address, facebook) on GLBSE. The rest (excluding a linkedin profile) will be verified in a couple of days.
Title: Re: [ANN] MPOE ETF - Mircea Popescu's Option Emporium Fund Post by: smickles on April 07, 2012, 12:43:50 AM MPOE just published the results of the second offering.
http://polimedia.us/trilema/2012/mpoe-rezultatele-subscriptiei-publice-aprilie/ The fund received 2,253,340 shares of MPOE. Title: Re: [ANN] MPOE ETF - Mircea Popescu's Option Emporium Fund Post by: smickles on April 16, 2012, 12:38:17 AM This month's financial report (best viewed as plain text, fixed width font):
Code: -----BEGIN PGP SIGNED MESSAGE----- Feel free to ask any questions. Title: Re: [ANN] MPOE ETF - Mircea Popescu's Option Emporium Fund Post by: MPOE-PR on April 16, 2012, 11:24:23 AM Diluted Earnings per common share of 0.21279319 when the IPO went at 0.1 per share? Wow, that's an eyepopper.
Nice work there smickles. Very nicely prepared statement, I would hope others follow to this high standard. Title: Re: [ANN] MPOE ETF - Mircea Popescu's Option Emporium Fund Post by: Raoul Duke on April 21, 2012, 11:24:18 AM You are a true market maker... You even register your domains with a market address (http://maps.google.com/maps?q=14781+Memorial+Dr.&layer=c&z=17&iwloc=A&sll=29.770916,-95.611563&cbp=13,218.7,0,0,0&cbll=29.771037,-95.611451&ved=0CAoQ2wU&sa=X&ei=H5CST4mYHob2sgafrNHuAw)... http://whois.domaintools.com/polimedia.us Quote Administrative Contact Name: Martha McCuller Administrative Contact Organization: Norsena Administrative Contact Address1: 14781 Memorial Dr. Administrative Contact City: Houston Administrative Contact State/Province: TX Administrative Contact Postal Code: 77079 Administrative Contact Country: United States Administrative Contact Country Code: US Administrative Contact Phone Number: +40.0731507527 If that's your twisted sense of humour at work, well, I LOL'ed. You should learn with the pro's: they register their domains at restaurants addresses. Also, fluffygrrl, didn't people teached you that spamming and trying to impersonate forum moderators to trick users is an ugly thing to do? (http://www.askdamagex.com/showthread.php?t=30257&p=299494&viewfull=1#post299494) That really shows your integrity... I advise people to read that thread, some interesting shit there. For some more lulz: https://www.google.com/search?q="fluffygrrl"+"spam" (https://www.google.com/search?q="fluffygrrl"+"spam") <--- I guess her forum spammer bot went crazy lol BTW, you're some ugly ass chick... Who gave you that black eye? Was it Mircea Popescu himself? http://i33.tinypic.com/5zicgj.jpg Title: Re: [ANN] MPOE ETF - Mircea Popescu's Option Emporium Fund Post by: smickles on April 23, 2012, 06:48:48 PM <snip> Quote <snip> I have delayed in responding to this for some time because I was quite unsure of the relevance to topic. I have found some strands of connection to the topic, but I'm still having trouble figuring out the relevance or even the context of the quote. Can someone help me out here? Title: Re: [ANN] MPOE ETF - Mircea Popescu's Option Emporium Fund Post by: Raoul Duke on April 23, 2012, 09:54:05 PM That goes to show the integrity of the persons you are leaving your money with...
Read the thread where that quote came from, it's funny. Mircea Popescu owns a company for 5 years that have nothing more than losses to show. If he can't even take good care of his own money you think he will take good care of your? Also, the fact that he hires a spammer as his PR is very telling. Her modus operandi is to open accounts trying to impersonate forum admins/moderators to spam the users and trying to have them install malware and/or sell them into shitty stuff and has been like that for years. When will she do the same in this forum? :D And the spamming part is already showing in this forum, where she goes to all the threads spam her shitty business. I just gave her a little of her own medicine. ;) Fucking clowns, that's what they are! Title: Re: [ANN] MPOE ETF - Mircea Popescu's Option Emporium Fund Post by: smickles on April 23, 2012, 10:17:42 PM That goes to show the integrity of the persons you are leaving your money with... The way MPOE ETF operates is fairly clear and the underlying asset -MPOE- is similarly clear in it's construction and operation.Read the thread where that quote came from, it's funny. Mircea Popescu owns a company for 5 years that have nothing more than losses to show. If he can't even take good care of his own money you think he will take good care of your? Also, the fact that he hires a spammer as his PR is very telling. Her modus operandi is to open accounts trying to impersonate forum admins/moderators to spam the users and trying to have them install malware and/or sell them into shitty stuff and has been like that for years. When will she do the same in this forum? :D And the spamming part is already showing in this forum, where she goes to all the threads spam her shitty business. I just gave her a little of her own medicine. ;) Fucking clowns, that's what they are! I personally haven't seen Mr. Popescu try to hide his past in any way, in fact, he seems very open about it. Due to the nature of MPOE, I do not think that his past will have much, if any, impact on the performance of the operation or its issuances. RE: the "PR account", Quote …Her modus operandi is to open accounts trying to impersonate forum admins/moderators to spam the users and trying to have them install malware and/or sell them into shitty stuff and has been like that for years. When will she do the same in this forum?… So you are sayin that she hasn't done bad things on this forum?Quote I just gave her a little of her own medicine. please stop bringing your misguided attempt at vengeance to this thread.Title: Re: [ANN] MPOE ETF - Mircea Popescu's Option Emporium Fund Post by: Raoul Duke on April 23, 2012, 10:56:15 PM So my attempts are misguided? And hers aren't... OK.
Leave your money wherever you wish. When he/she runs away with it don't come crying! ;D Report the post, maybe some moderator will delete it, because I won't! Title: Re: [ANN] MPOE ETF - Mircea Popescu's Option Emporium Fund Post by: smickles on April 23, 2012, 11:01:25 PM So my attempts are misguided? And hers aren't... OK. no, giving someone a taste of the own medicine is misguided vengeance.Quote Leave your money wherever you wish. When he/she runs away with it don't come crying! ;D Quote Report the post, maybe some moderator will delete it, because I won't! Title: Re: [ANN] MPOE ETF - Mircea Popescu's Option Emporium Fund Post by: Raoul Duke on April 23, 2012, 11:03:36 PM What I don't understand is why you want to harm the shareholders of this fund when you are clearly upset at other people. Ask that same question to the fluffygrrl... Title: Re: [GLBSE] MPOE ETF - Mircea Popescu's Option Emporium Fund Post by: smickles on May 09, 2012, 07:23:11 PM For those shareholders who did not actively seek out the underlying's April financial report, here is the link.
http://polimedia.us/trilema/2012/mpoe-rezultate-aprilie-2012/ (http://polimedia.us/trilema/2012/mpoe-rezultate-aprilie-2012/) Title: Re: [GLBSE] MPOE ETF - Mircea Popescu's Option Emporium Fund Post by: smickles on May 15, 2012, 01:09:26 AM A couple of minor errors were discovered in this report. Please see the following post for the corrections to the cash flows statement and the note concerning changes to the underlying asset.
Code: -----BEGIN PGP SIGNED MESSAGE----- Title: Re: [GLBSE] MPOE ETF - Mircea Popescu's Option Emporium Fund Post by: smickles on May 15, 2012, 03:03:00 AM A couple of small corrections to the May financial report
Code: -----BEGIN PGP SIGNED MESSAGE----- Title: Re: [GLBSE] MPOE ETF - Mircea Popescu's Option Emporium Fund Post by: smickles on May 15, 2012, 07:12:37 PM I am pleased to announce payment of this month's dividend.
Also, I have updated some of the fund's information on the GLBSE asset page (https://glbse.com/asset/view/MPOE.ETF) in the "Company and security details, contract" section. Title: Re: [GLBSE] MPOE ETF - Mircea Popescu's Option Emporium Fund Post by: brendio on June 12, 2012, 02:10:15 AM I noticed your by-laws link in the contract does not work. I was wondering about voting rights and the right to raise a motion.
Given the large discount to NAV, I would like to propose a (partial) sale of S.MPOE shares of the fund to be used either to pay a special dividend, or to buy back shares at a discount to NAV. I believe either measure should help to reduce the gap between NAV and share price. Regards, Brendio. Bitcoin Investment Bank. Title: Re: [GLBSE] MPOE ETF - Mircea Popescu's Option Emporium Fund Post by: smickles on June 12, 2012, 02:54:37 AM I noticed your by-laws link in the contract does not work. I was wondering about voting rights and the right to raise a motion. I will have to fix the issue with the bylaws link tomorrow. Thank you for telling me about it.Given the large discount to NAV, I would like to propose a (partial) sale of S.MPOE shares of the fund to be used either to pay a special dividend, or to buy back shares at a discount to NAV. I believe either measure should help to reduce the gap between NAV and share price. Regards, Brendio. Bitcoin Investment Bank. However, you did not miss much of anything. Since there has been no discussion of the bylaws here, no bylaws have been even drafted up. In line with my judgement of the situation I have been able to sell a small portion of the shares which the fund holds at a reasonable price in order to pay a larger dividend this month. Title: Re: [GLBSE] MPOE ETF - Mircea Popescu's Option Emporium Fund Post by: smickles on June 12, 2012, 02:00:22 PM I have been able to arrange an in kind creation of shares of MPOE ETF. The fund received 1,853,708 shares of MPOE in exchange for 500 shares of MPOE ETF which increases the number of MPOE shares held per MPOE ETF share.
Title: Re: [GLBSE] MPOE ETF - June Financial Report Post by: smickles on June 15, 2012, 12:40:55 AM Code: -----BEGIN PGP SIGNED MESSAGE----- Title: Re: [GLBSE] MPOE ETF - Mircea Popescu's Option Emporium Fund Post by: MPOE-PR on June 15, 2012, 12:50:55 AM It's a pleasure reading these reports, congrats on a job well done.
Title: Re: [GLBSE] MPOE ETF - Mircea Popescu's Option Emporium Fund Post by: smickles on July 15, 2012, 09:25:55 PM In consideration of the time, I have paid the dividend before posting the monthly financial report.
Please expect the report to come later today :) Title: Re: [GLBSE] MPOE ETF - July Financial Report Post by: smickles on July 18, 2012, 11:40:45 PM Code: -----BEGIN PGP SIGNED MESSAGE----- Title: Re: [GLBSE] MPOE ETF - Mircea Popescu's Option Emporium Fund Post by: MPOE-PR on July 18, 2012, 11:49:08 PM So, 1.2k assets, 1.1k shares, worth ~1 btc/share.
Title: Re: [GLBSE] MPOE ETF - Mircea Popescu's Option Emporium Fund Post by: smickles on July 18, 2012, 11:53:14 PM So, 1.2k assets, 1.1k shares, worth ~1 btc/share. ~indeedTitle: August Financial Report Post by: smickles on August 14, 2012, 06:55:28 PM Code: -----BEGIN PGP SIGNED MESSAGE----- Title: Financial Report of the Underlying Post by: smickles on September 01, 2012, 01:57:47 AM Financial report of the underlying: http://polimedia.us/trilema/2012/mpoe-rezultate-august-2012/#comment-88317
Title: September Financial Report Post by: smickles on September 15, 2012, 03:53:51 AM Code: -----BEGIN PGP SIGNED MESSAGE----- Title: Re: September Financial Report Post by: koin on September 15, 2012, 05:10:56 AM Code: Revenue: 5.05221082 what? shekels? seashells? shares of cpa, even? of course, those are btcs, but the statement doesn't state it. Title: Re: September Financial Report Post by: smickles on September 15, 2012, 05:13:44 AM Code: Revenue: 5.05221082 what? shekels? seashells? shares of cpa, even? of course, those are btcs, but the statement doesn't state it. Title: Re: [GLBSE] MPOE ETF - September Financial Report Available Post by: smickles on October 03, 2012, 11:26:43 PM Upon due consideration, it is my undesired position to now announce the closure of MPOE.ETF.
I have liquidated the assets and will begin the process of winding down the issue on GLBSE. This entails a buyback of shares at 1.26383450 BTC each. I will place a bid to fulfill this end as soon as I have moved funds into the account on GLBSE. Once the order is placed, I will request that all shares be consumed in a forced buyback in order to expedite the process. I will post a final financial statement no later than the 15th of October. Title: Re: [GLBSE] MPOE ETF - September Financial Report Available Post by: rdponticelli on October 03, 2012, 11:33:19 PM Upon due consideration, it is my undesired position to now announce the closure of MPOE.ETF. I have liquidated the assets and will begin the process of winding down the issue on GLBSE. This entails a buyback of shares at 1.26383450 BTC each. I will place a bid to fulfill this end as soon as I have moved funds into the account on GLBSE. Once the order is placed, I will request that all shares be consumed in a forced buyback in order to expedite the process. I will post a final financial statement no later than the 15th of October. It would have been nice if you had told about this before. Maybe the liquidation could have been avoided, or at least diminished. I was about to ask you if I can redeem my shares for true S.MPOE stock... But well, what's done is done... Title: Re: [GLBSE] MPOE ETF - September Financial Report Available Post by: smickles on October 03, 2012, 11:38:19 PM Upon due consideration, it is my undesired position to now announce the closure of MPOE.ETF. I have liquidated the assets and will begin the process of winding down the issue on GLBSE. This entails a buyback of shares at 1.26383450 BTC each. I will place a bid to fulfill this end as soon as I have moved funds into the account on GLBSE. Once the order is placed, I will request that all shares be consumed in a forced buyback in order to expedite the process. I will post a final financial statement no later than the 15th of October. It would have been nice if you had told about this before. Maybe the liquidation could have been avoided, or at least diminished. I was about to ask you if I can redeem my shares for true S.MPOE stock... But well, what's done is done... Title: Re: [GLBSE] MPOE ETF - September Financial Report Available Post by: rdponticelli on October 04, 2012, 01:19:48 AM Upon due consideration, it is my undesired position to now announce the closure of MPOE.ETF. I have liquidated the assets and will begin the process of winding down the issue on GLBSE. This entails a buyback of shares at 1.26383450 BTC each. I will place a bid to fulfill this end as soon as I have moved funds into the account on GLBSE. Once the order is placed, I will request that all shares be consumed in a forced buyback in order to expedite the process. I will post a final financial statement no later than the 15th of October. It would have been nice if you had told about this before. Maybe the liquidation could have been avoided, or at least diminished. I was about to ask you if I can redeem my shares for true S.MPOE stock... But well, what's done is done... It's ok. Congratulations for a great work. Title: Re: [GLBSE] MPOE ETF - September Financial Report Available Post by: MPOE-PR on October 04, 2012, 04:09:06 PM Perfect timing on this, too.
Quote Oct 04 04:22:07 <smickles> there's the wall Oct 04 04:22:07 <rdponticelli> There it goes... Oct 04 04:22:21 <rdponticelli> Was a pleasure Oct 04 04:23:38 <smickles> it was nice while it lasted :) :( Oct 04 04:24:31 <assbot> [MPEX] [S.MPOE] 31400 @ 0.00035922 = 11.2795 BTC [-] Oct 04 04:24:33 <assbot> [MPEX] [S.MPOE] 34776 @ 0.00035919 = 12.4912 BTC [-] Oct 04 04:25:06 <mircea_popescu> so did you have fun with it smickles ? Oct 04 04:25:18 <mircea_popescu> 5 months, best fund in btc history by returns, etc Oct 04 04:25:24 * maximian (~maximian@S010600008654164f.vc.shawcable.net) has joined #bitcoin-assets Oct 04 04:25:34 <rdponticelli> By far Oct 04 04:26:16 <mircea_popescu> !pl mpoe.etf .1 Oct 04 04:26:16 <assbot> Requesting data from GLBSE (might take a while, also might return fishy results as it does not account for splits etc). Oct 04 04:26:20 <assbot> MPOE.ETF [1@0.1BTC] paid: 0.02470282 BTC. Last price: 1.2638345 BTC. Capital gain: 1.1638345 BTC. Total: 1.18853732 BTC. (1188.5%) Oct 04 04:26:33 <mircea_popescu> that 1188% is definitive i'd guess Congratulations on running the best asset that ever was on GLBSE, and good luck with the next one. Title: Re: [GLBSE] MPOE ETF - September Financial Report Available Post by: smickles on October 16, 2012, 12:47:33 AM I am at this time unable to retrieve some data which is required to produce the final financial report.
The production of the final financial report will be delayed until I can reasonably confirm the number of outstanding shares of MPOE ETF. Title: Re: [GLBSE] MPOE ETF - September Financial Report Available Post by: smickles on November 16, 2012, 02:56:47 AM I see no point in compiling reports for the remaining shareholders. The situation with GLBSE is stagnant.
17pEq2FphQeHQQAA1fKvrNsBKrBSGhFE4Y That is the address which received the remaining funds from GLBSE. |
