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Title: Closing Post by: smickles on March 26, 2012, 11:50:42 PM Financial Reports
April (https://bitcointalk.org/index.php?topic=74216.msg854519#msg854519) May (https://bitcointalk.org/index.php?topic=74216.msg904904#msg904904) June (https://bitcointalk.org/index.php?topic=74216.msg968883#msg968883) July (https://bitcointalk.org/index.php?topic=74216.msg1102710#msg1102710) August (https://bitcointalk.org/index.php?topic=74216.msg1105596#msg1105596) September (https://bitcointalk.org/index.php?topic=74216.msg1197034#msg1197034) Officers
Insider Actions
Quote from: original_post Splatster and I are proud to announce the launch of S² Capital Management! The IPO has already started on GLBSE!
What is S² Capital Management? S² Capital Management is a bitcoin investment fund that focuses primarily on fixed-income bitcoin securities, which aims to provide steady returns at higher rates than many bitcoin investments. To maintain our goal of protecting shareholders from the default risk of downstream institutions, S²CM maintains a reserve account that can be used to cover all or a portion of potential defaults and protect shareholders from losses. The following sections lay out in greater detail the structure of the fund. What is your capital used for? The capital raised from public share issuances is deposited with various borrowing institutions that pay interest for the duration of said deposit. Where exactly is S² Capital Management's capital going to go? The capital raised will be distributed among the following institutions, in accordance with the management’s views on riskiness and profitability of each. The Lenders are:
What issues do you consider when deciding on fund allocation among institutions? Each institution provides a different interest rate, payment interval, among other varying terms. This information is to be kept confidential at the request of our borrowers. The factors we consider when determining the distribution of funds in order of importance are: risk of default, interest rate, duration of deposit, among other things. What interest rates do you get from the various institutions? Our downstream partners have requested that we not discuss the interest rate each individual provides. However, the total interest for all funds is made public each month. Based on the numbers we have, the fund should generate approximately 10-15% on the invested funds each month. What is the benefit of investing with S² Capital Management over solo investing? One major benefit is capital diversification among multiple borrowers. This provides a significant reduction in expected losses due to borrower default. Additionally, by combining investor funds, we may be able to negotiate better interest rates than small individual investors would on their own. Further, the fund maintains some of its own capital in reserve to cover potential default losses in case they occur, up to the maximum of the reserve account. How can I be sure you won't be putting my money in risky investments? We have strong incentive to do our research on each and every institution because splatster’s capital is on the line. splatster has funded a reserve account of 100 BTC to cover any potential failed investments with his personal money. The amount of this account will increase if/when more shares are issued as described in the fund's terms. What if an investment institution defaults? In the scenario of some institution defaulting on its obligation, the fund would cover the losses up to the total amount of the reserve account (currently 100 BTC). If the loss is less than 100 BTC, the shareholders would lose absolutely no money. If a default is greater than 100 BTC, the loss would still be significantly mitigated by the reserve account. What if ALL the investments go sour? In this situation the fund would lose the money, less the amount splatter has pledged to cover via the reserve account. If the fund were to be liquidated at this time, the shareholders will experience losses, but still less than if they had invested solo. The Terms are as follows: Quote The owner of this certificate (here after known as "THE OWNER") holds one share of "S² Capital Management" (hereafter known as "THE FUND"). Each share of THE FUND entitles its owner to a portion of the distribution of the net gains (hereafter known as "THE DIVIDEND") generated by THE FUND. Additionally, each share of THE FUND conveys limited voting rights. THE FUND will attempt to generate gains by investing its capital in various Bitcoin borrowing institutions (hereafter known as "THE INVESTMENT"). THE INVESTMENT may also take advantage of various instruments to prevent loss. Should THE INVESTMENT incur any loss, the first 100 BTC (hereafter known as "THE RESERVE") of such losses will be recouped from a guarantee (hereafter known as "THE GUARANTEE"). THE RESERVE may change in the future subject to follow-up share offerings, as described below. THE FUND will raise capital by issuing 610 shares of stock. 500 shares will be offered to the public at a price of 1 bitcoin each. 110 shares will be distributed to the officers of THE FUND. The shares withheld for the officers of THE FUND are identical to the shares offered to the public and convey the same rights as to any owner of the shares. THE FUND reserves the right to issue further stock to raise additional capital for THE INVESTMENT. Should THE FUND issue stock in this manner it will maintain the ratio of shares offered to the public and shares withheld for its officers. THE GUARANTEE is a contract between THE FUND and Zachary J. Snow, also known as "splatster". The intent of THE GUARANTEE is to secure THE FUND against potential losses up to the value of THE RESERVE. Should THE FUND issue further stock beyond the initial public offering, THE RESERVE will increase by an addition of ten sixty-firsts (10/61) of the value of the shares at such an issuance (the same proportion as the initial issuance of shares). THE GUARANTEE will not be responsible for any losses beyond THE RESERVE for the entirety of THE FUND as a going concern. THE FUND will be managed by two officers, the Investment Officer and the Financial Officer. The Investment Officer will be responsible for directing the actions of THE INVESTMENT. The Financial Officer will be responsible for THE FUND's financial accounting, including the presentation of financial reports to the shareholders of THE FUND. The voting rights granted to THE OWNER extend to two points. THE OWNER may raise a motion to dissolve THE FUND and THE OWNER may vote on such a motion raised by any shareholder. THE OWNER receives one vote for each share of THE FUND which THE OWNER controls. THE FUND will issue financial reports to the shareholders on the 16th day of each month. THE DIVIDEND will be distributed to the shareholders on the 17th day of each month. The amount THE DIVIDEND will be the total amount of revenue accrued since the previous distribution of THE DIVIDEND less any expenses. What if I have a question you didn't answer above? Feel free to ask any relevant questions you have in this thread. One of us will answer your questions as soon as we can. Title: Re: [GLBSE] S² Capital Management Post by: splatster on March 26, 2012, 11:52:25 PM The GLBSE listing is up.
Update 2: Problems have been sorted out! Shares are now for sale on GLBSE at https://glbse.com/asset/view/SS (https://glbse.com/asset/view/SS). Update 3: After some intense talking in IRC, we have decided that all future IPOs will be done at the going market rate. A fair amount of discussion goes on in our IRC channel, #S2CM. That's probably one of the best places to discuss things or ask questions regarding S² Capital Management. Title: Re: [GLBSE] S² Capital Management Post by: smickles on March 27, 2012, 04:10:37 AM For those who are interested, here is a signed copy (my signature) of the terms. I will also update the GLBSE listing's terms with my signature if I am able to.
-----BEGIN PGP SIGNED MESSAGE----- Hash: SHA1 The owner of this certificate (here after known as "THE OWNER") holds one share of "S² Capital Management" (hereafter known as "THE FUND"). Each share of THE FUND entitles its owner to a portion of the distribution of the net gains (hereafter known as "THE DIVIDEND") generated by THE FUND. Additionally, each share of THE FUND conveys limited voting rights. THE FUND will attempt to generate gains by investing its capital in various Bitcoin borrowing institutions (hereafter known as "THE INVESTMENT"). THE INVESTMENT may also take advantage of various instruments to prevent loss. Should THE INVESTMENT incur any loss, the first 100 BTC (hereafter known as "THE RESERVE") of such losses will be recouped from a guarantee (hereafter known as "THE GUARANTEE"). THE RESERVE may change in the future subject to follow-up share offerings, as described below. THE FUND will raise capital by issuing 610 shares of stock. 500 shares will be offered to the public at a price of 1 bitcoin each. 110 shares will be distributed to the officers of THE FUND. The shares withheld for the officers of THE FUND are identical to the shares offered to the public and convey the same rights as to any owner of the shares. THE FUND reserves the right to issue further stock to raise additional capital for THE INVESTMENT. Should THE FUND issue stock in this manner it will maintain the ratio of shares offered to the public and shares withheld for its officers. THE GUARANTEE is a contract between THE FUND and Zachary J. Snow, also known as "splatster". The intent of THE GUARANTEE is to secure THE FUND against potential losses up to the value of THE RESERVE. Should THE FUND issue further stock beyond the initial public offering, THE RESERVE will increase by an addition of ten sixty-firsts (10/61) of the value of the shares at such an issuance (the same proportion as the initial issuance of shares). THE GUARANTEE will not be responsible for any losses beyond THE RESERVE for the entirety of THE FUND as a going concern. THE FUND will be managed by two officers, the Investment Officer and the Financial Officer. The Investment Officer will be responsible for directing the actions of THE INVESTMENT. The Financial Officer will be responsible for THE FUND's financial accounting, including the presentation of financial reports to the shareholders of THE FUND. The voting rights granted to THE OWNER extend to two points. THE OWNER may raise a motion to dissolve THE FUND and THE OWNER may vote on such a motion raised by any shareholder. THE OWNER receives one vote for each share of THE FUND which THE OWNER controls. THE FUND will issue financial reports to the shareholders on the 16th day of each month. THE DIVIDEND will be distributed to the shareholders on the 17th day of each month. The amount THE DIVIDEND will be the total amount of revenue accrued since the previous distribution of THE DIVIDEND less any expenses. -----BEGIN PGP SIGNATURE----- Version: GnuPG v1.4.11 (GNU/Linux) iQIcBAEBAgAGBQJPcT0qAAoJEOpi186yRQw/AkUQAMHOo4ltlsrmxOsPcPQ4hAvI j9w5NcjR0aIXrIiFDjWuwxceurbEHZxSpjHpR0PoHpGlQIxgpbyaX3yuIMcLXI6o vhfg7g+f8afRHL/uTIEx7D9TIBQfH7w2s1LXFOny/BkZc0dJXhzonsEm3QZYNQm1 fVvJlqSyYLCzR76I4t643HGtat/Kys8uwSyzP4zf69AQMs+B2qtQuqz7+vV2euGa N93igjDWrCapVBAi/8i8oYFd3KOMsMDLtgbpKNLrbFFvCmXkv8q0m8hfZvj14JZ5 zivSk2/PU2WdRZMEiT7YEn+yCzFWGBo+YSIVLRe2vUk2/C8281sNpGC4kI+8sUFq X9rYECGoD1KoVyNmtQ1DVFUJf0muvnF97Y9r88O7x1qV10BK76WwDZJsI0SoFJol Va6H2G9qTTZPkcLhtjK8TvMGUHVuoUGrFkR+WzRjTndDOF6lden/fNB2FO/3MOOg pYfRLz6/Q9zHch8rMJ3BXGkAskuKdJuQiswbVzcey4c5gE/OUJh3cd2kaiziInEs LSBQSqYZ3sYiXXvT6nb/FJgoRtfoWefy3OXRdJ7/Mi4/kMJo0Ad7nq3zkntwsERR U/+QwIa6czHn85HVz5d4mPdFC/o4gYwCm2BCm8GfumufOvz4XQvgIU1iHZGmOwsu xvS+2XHrrSLIJDsY0lTR =+PqL -----END PGP SIGNATURE----- Title: Re: [GLBSE] S² Capital Management Post by: stochastic on March 27, 2012, 06:47:25 AM 1.
What percentage of dividends is returned to shareholders? 2. Are more shares going to be issued in the future or is this ideally a closed-ended fund? 3. Are you going to short bitcoin to hedge against fluctuations in the BTC/USD exchange rate? Title: Re: [GLBSE] S² Capital Management Post by: abbeytim on March 27, 2012, 07:02:15 AM your answer too #1 is right above you ::)
Title: Re: [GLBSE] S² Capital Management Post by: abbeytim on March 27, 2012, 07:04:26 AM answer #2 is above you too
THE FUND will raise capital by issuing 610 shares of stock. 500 shares will be offered to the public at a price of 1 bitcoin each. 110 shares will be distributed to the officers of THE FUND. The shares withheld for the officers of THE FUND are identical to the shares offered to the public and convey the same rights as to any owner of the shares. THE FUND reserves the right to issue further stock to raise additional capital for THE INVESTMENT. Should THE FUND issue stock in this manner it will maintain the ratio of shares offered to the public and shares withheld for its officers. Title: Re: [GLBSE] S² Capital Management Post by: splatster on March 27, 2012, 07:07:28 AM 1. What percentage of dividends is returned to shareholders? 2. Are more shares going to be issued in the future or is this ideally a closed-ended fund? 3. Are you going to short bitcoin to hedge against fluctuations in the BTC/USD exchange rate? One of the fund's primary goals is to generate positive bitcoin returns. Putting the fund's money in very risky things like options is not good for investors. Title: Re: [GLBSE] S² Capital Management Post by: stochastic on March 27, 2012, 07:08:13 AM answer #2 is above you too THE FUND will raise capital by issuing 610 shares of stock. 500 shares will be offered to the public at a price of 1 bitcoin each. 110 shares will be distributed to the officers of THE FUND. The shares withheld for the officers of THE FUND are identical to the shares offered to the public and convey the same rights as to any owner of the shares. THE FUND reserves the right to issue further stock to raise additional capital for THE INVESTMENT. Should THE FUND issue stock in this manner it will maintain the ratio of shares offered to the public and shares withheld for its officers. Yea I was hoping for a more concrete answer from the operators. It seems when a lot of companies on GLBSE offer more shares they are not completely sold out. Title: Re: [GLBSE] S² Capital Management Post by: stochastic on March 27, 2012, 07:11:34 AM 1. What percentage of dividends is returned to shareholders? 2. Are more shares going to be issued in the future or is this ideally a closed-ended fund? 3. Are you going to short bitcoin to hedge against fluctuations in the BTC/USD exchange rate? One of the fund's primary goals is to generate positive bitcoin returns. Putting the fund's money in very risky things like options is not good for investors. If I invest in S2 I am making 2 investments. Betting that your fund will make money and that bitcoins will hold or increase in value. Title: Re: [GLBSE] S² Capital Management Post by: Philj on March 27, 2012, 12:06:37 PM I have a buy order for 1 before the IPO is available. Lets see what happens.
Title: Re: [GLBSE] S² Capital Management Post by: splatster on March 27, 2012, 02:27:07 PM I have a buy order for 1 before the IPO is available. Lets see what happens. Thank you for holding tight while we try to get this sorted out. Nefario said he would try to help us last night, but no luck there. I will update this thread once we have word on what's going on with GLBSE and our IPO. Title: Re: [GLBSE] S² Capital Management Post by: smickles on March 27, 2012, 04:24:23 PM answer #2 is above you too THE FUND will raise capital by issuing 610 shares of stock. 500 shares will be offered to the public at a price of 1 bitcoin each. 110 shares will be distributed to the officers of THE FUND. The shares withheld for the officers of THE FUND are identical to the shares offered to the public and convey the same rights as to any owner of the shares. THE FUND reserves the right to issue further stock to raise additional capital for THE INVESTMENT. Should THE FUND issue stock in this manner it will maintain the ratio of shares offered to the public and shares withheld for its officers. Yea I was hoping for a more concrete answer from the operators. It seems when a lot of companies on GLBSE offer more shares they are not completely sold out. Title: Re: [GLBSE] S² Capital Management Post by: smickles on March 27, 2012, 06:03:11 PM And S²CM is now trading live on GLBSE. https://glbse.com/asset/view/SS
Title: Re: [GLBSE] S² Capital Management Post by: zefir on March 27, 2012, 09:18:33 PM answer #2 is above you too THE FUND will raise capital by issuing 610 shares of stock. 500 shares will be offered to the public at a price of 1 bitcoin each. 110 shares will be distributed to the officers of THE FUND. The shares withheld for the officers of THE FUND are identical to the shares offered to the public and convey the same rights as to any owner of the shares. THE FUND reserves the right to issue further stock to raise additional capital for THE INVESTMENT. Should THE FUND issue stock in this manner it will maintain the ratio of shares offered to the public and shares withheld for its officers. Yea I was hoping for a more concrete answer from the operators. It seems when a lot of companies on GLBSE offer more shares they are not completely sold out. Sorry for being noob here, but I don't get what 'maintain the ratio of shares offered to the public and shares withheld for its officers' means here. Say I hold 10% or 61 shares and THE FUND decides to issue another 610 shares, does this mean the OFFICERS OF THE FUND get their new 110 shares for free to maintain the ratio and I need to buy another 61 of the new shares to stay at 10% ??? Title: Re: [GLBSE] S² Capital Management Post by: smickles on March 27, 2012, 09:24:11 PM answer #2 is above you too THE FUND will raise capital by issuing 610 shares of stock. 500 shares will be offered to the public at a price of 1 bitcoin each. 110 shares will be distributed to the officers of THE FUND. The shares withheld for the officers of THE FUND are identical to the shares offered to the public and convey the same rights as to any owner of the shares. THE FUND reserves the right to issue further stock to raise additional capital for THE INVESTMENT. Should THE FUND issue stock in this manner it will maintain the ratio of shares offered to the public and shares withheld for its officers. Yea I was hoping for a more concrete answer from the operators. It seems when a lot of companies on GLBSE offer more shares they are not completely sold out. Sorry for being noob here, but I don't get what 'maintain the ratio of shares offered to the public and shares withheld for its officers' means here. Say I hold 10% or 61 shares and THE FUND decides to issue another 610 shares, does this mean the OFFICERS OF THE FUND get their new 110 shares for free to maintain the ratio and I need to buy another 61 of the new shares to stay at 10% ??? Title: Re: [GLBSE] S² Capital Management Post by: smickles on March 27, 2012, 09:26:25 PM answer #2 is above you too THE FUND will raise capital by issuing 610 shares of stock. 500 shares will be offered to the public at a price of 1 bitcoin each. 110 shares will be distributed to the officers of THE FUND. The shares withheld for the officers of THE FUND are identical to the shares offered to the public and convey the same rights as to any owner of the shares. THE FUND reserves the right to issue further stock to raise additional capital for THE INVESTMENT. Should THE FUND issue stock in this manner it will maintain the ratio of shares offered to the public and shares withheld for its officers. Yea I was hoping for a more concrete answer from the operators. It seems when a lot of companies on GLBSE offer more shares they are not completely sold out. Sorry for being noob here, but I don't get what 'maintain the ratio of shares offered to the public and shares withheld for its officers' means here. Say I hold 10% or 61 shares and THE FUND decides to issue another 610 shares, does this mean the OFFICERS OF THE FUND get their new 110 shares for free to maintain the ratio and I need to buy another 61 of the new shares to stay at 10% ??? Title: Re: [GLBSE] S² Capital Management Post by: eroxors on March 27, 2012, 09:33:32 PM answer #2 is above you too THE FUND will raise capital by issuing 610 shares of stock. 500 shares will be offered to the public at a price of 1 bitcoin each. 110 shares will be distributed to the officers of THE FUND. The shares withheld for the officers of THE FUND are identical to the shares offered to the public and convey the same rights as to any owner of the shares. THE FUND reserves the right to issue further stock to raise additional capital for THE INVESTMENT. Should THE FUND issue stock in this manner it will maintain the ratio of shares offered to the public and shares withheld for its officers. Yea I was hoping for a more concrete answer from the operators. It seems when a lot of companies on GLBSE offer more shares they are not completely sold out. Sorry for being noob here, but I don't get what 'maintain the ratio of shares offered to the public and shares withheld for its officers' means here. Say I hold 10% or 61 shares and THE FUND decides to issue another 610 shares, does this mean the OFFICERS OF THE FUND get their new 110 shares for free to maintain the ratio and I need to buy another 61 of the new shares to stay at 10% ??? More work, yes. Twice the work? doubtful. I would like to see this revised to require the amount granted to the officers be included in the motion for issuance of new shares and up for discussion. Title: Re: [GLBSE] S² Capital Management Post by: splatster on March 27, 2012, 09:37:42 PM answer #2 is above you too THE FUND will raise capital by issuing 610 shares of stock. 500 shares will be offered to the public at a price of 1 bitcoin each. 110 shares will be distributed to the officers of THE FUND. The shares withheld for the officers of THE FUND are identical to the shares offered to the public and convey the same rights as to any owner of the shares. THE FUND reserves the right to issue further stock to raise additional capital for THE INVESTMENT. Should THE FUND issue stock in this manner it will maintain the ratio of shares offered to the public and shares withheld for its officers. Yea I was hoping for a more concrete answer from the operators. It seems when a lot of companies on GLBSE offer more shares they are not completely sold out. Sorry for being noob here, but I don't get what 'maintain the ratio of shares offered to the public and shares withheld for its officers' means here. Say I hold 10% or 61 shares and THE FUND decides to issue another 610 shares, does this mean the OFFICERS OF THE FUND get their new 110 shares for free to maintain the ratio and I need to buy another 61 of the new shares to stay at 10% ??? More work, yes. Twice the work? doubtful. I would like to see this revised to require the amount granted to the officers be included in the motion for issuance of new shares and up for discussion. It is less that it is more work, but instead that the guarantee doubles. For every issuance of 500 public shares, I put another 100 BTC of my own money on the line. Title: Re: [GLBSE] S² Capital Management Post by: smickles on March 27, 2012, 09:42:10 PM answer #2 is above you too THE FUND will raise capital by issuing 610 shares of stock. 500 shares will be offered to the public at a price of 1 bitcoin each. 110 shares will be distributed to the officers of THE FUND. The shares withheld for the officers of THE FUND are identical to the shares offered to the public and convey the same rights as to any owner of the shares. THE FUND reserves the right to issue further stock to raise additional capital for THE INVESTMENT. Should THE FUND issue stock in this manner it will maintain the ratio of shares offered to the public and shares withheld for its officers. Yea I was hoping for a more concrete answer from the operators. It seems when a lot of companies on GLBSE offer more shares they are not completely sold out. Sorry for being noob here, but I don't get what 'maintain the ratio of shares offered to the public and shares withheld for its officers' means here. Say I hold 10% or 61 shares and THE FUND decides to issue another 610 shares, does this mean the OFFICERS OF THE FUND get their new 110 shares for free to maintain the ratio and I need to buy another 61 of the new shares to stay at 10% ??? More work, yes. Twice the work? doubtful. I would like to see this revised to require the amount granted to the officers be included in the motion for issuance of new shares and up for discussion. Title: Re: [GLBSE] S² Capital Management Post by: zefir on March 27, 2012, 09:45:42 PM answer #2 is above you too THE FUND will raise capital by issuing 610 shares of stock. 500 shares will be offered to the public at a price of 1 bitcoin each. 110 shares will be distributed to the officers of THE FUND. The shares withheld for the officers of THE FUND are identical to the shares offered to the public and convey the same rights as to any owner of the shares. THE FUND reserves the right to issue further stock to raise additional capital for THE INVESTMENT. Should THE FUND issue stock in this manner it will maintain the ratio of shares offered to the public and shares withheld for its officers. Yea I was hoping for a more concrete answer from the operators. It seems when a lot of companies on GLBSE offer more shares they are not completely sold out. Sorry for being noob here, but I don't get what 'maintain the ratio of shares offered to the public and shares withheld for its officers' means here. Say I hold 10% or 61 shares and THE FUND decides to issue another 610 shares, does this mean the OFFICERS OF THE FUND get their new 110 shares for free to maintain the ratio and I need to buy another 61 of the new shares to stay at 10% ??? I see, but this is not how it usually goes. If new shares are issued, the existing holders get the chance to buy new shares with a given ratio according to already held ones. But typically none (including management aka the OFFICERS OF THE FUND) get shares for free. Say I'd jump in big and buy 306 shares today. Next week you decide to issue 6100 new shares, you then have 1210 shares and I can't do anything about it with my previously 50%+ held shares getting down to 4.5%. Sounds fishy to me... Title: Re: [GLBSE] S² Capital Management Post by: splatster on March 27, 2012, 09:48:16 PM I see, but this is not how it usually goes. If new shares are issued, the existing holders get the chance to buy new shares with a given ratio according to already held ones. But typically none (including management aka the OFFICERS OF THE FUND) get shares for free. Say I'd jump in big and buy 306 shares today. Next week you decide to issue 6100 new shares, you then have 1210 shares and I can't do anything about it with my previously 50%+ held shares getting down to 4.5%. Sounds fishy to me... In that situation, you have put absolutely nothing more on the line when we issue more shares. In the same case, I am putting 100 BTC on the line every 500 public shares. We are NOT getting the shares "for free" and neither should you. Title: Re: [GLBSE] S² Capital Management Post by: smickles on March 27, 2012, 09:50:24 PM answer #2 is above you too THE FUND will raise capital by issuing 610 shares of stock. 500 shares will be offered to the public at a price of 1 bitcoin each. 110 shares will be distributed to the officers of THE FUND. The shares withheld for the officers of THE FUND are identical to the shares offered to the public and convey the same rights as to any owner of the shares. THE FUND reserves the right to issue further stock to raise additional capital for THE INVESTMENT. Should THE FUND issue stock in this manner it will maintain the ratio of shares offered to the public and shares withheld for its officers. Yea I was hoping for a more concrete answer from the operators. It seems when a lot of companies on GLBSE offer more shares they are not completely sold out. Sorry for being noob here, but I don't get what 'maintain the ratio of shares offered to the public and shares withheld for its officers' means here. Say I hold 10% or 61 shares and THE FUND decides to issue another 610 shares, does this mean the OFFICERS OF THE FUND get their new 110 shares for free to maintain the ratio and I need to buy another 61 of the new shares to stay at 10% ??? I see, but this is not how it usually goes. If new shares are issued, the existing holders get the chance to buy new shares with a given ratio according to already held ones. But typically none (including management aka the OFFICERS OF THE FUND) get shares for free. Say I'd jump in big and buy 306 shares today. Next week you decide to issue 6100 new shares, you then have 1210 shares and I can't do anything about it with my previously 50%+ held shares getting down to 4.5%. Sounds fishy to me... Title: Re: [GLBSE] S² Capital Management Post by: splatster on March 27, 2012, 09:54:01 PM I see, but this is not how it usually goes. If new shares are issued, the existing holders get the chance to buy new shares with a given ratio according to already held ones. But typically none (including management aka the OFFICERS OF THE FUND) get shares for free. I'm not sure that I understand your concern with having a give percentage of the number of shares. Can you explain that to me a little further?Say I'd jump in big and buy 306 shares today. Next week you decide to issue 6100 new shares, you then have 1210 shares and I can't do anything about it with my previously 50%+ held shares getting down to 4.5%. Sounds fishy to me... This is exactly the point, your percentage doesn't matter whatsoever, as your dividends would stay the same. When we issue more shares, you aren't investing anything more. However, we are investing more into the fund when we issue more shares. We are essentially buying the shares. In other words, your percentage decreases because the amount you have invested as a percentage decreases. Our percentage stays the same because our amount invested increases accordingly. Before issuance: Your stake: 61 BTC or 10% Our stake: 100 BTC or ~18% After issuance of the same amount of shares: Your stake: 61 BTC or 5% Our stake: 200 BTC or ~18% You are essentially saying that, because other people put more money in, you should get more money and more control because you didn't put any more money in. Title: Re: [GLBSE] S² Capital Management Post by: zefir on March 27, 2012, 10:05:10 PM I see, but this is not how it usually goes. If new shares are issued, the existing holders get the chance to buy new shares with a given ratio according to already held ones. But typically none (including management aka the OFFICERS OF THE FUND) get shares for free. I'm not sure that I understand your concern with having a give percentage of the number of shares. Can you explain that to me a little further?Say I'd jump in big and buy 306 shares today. Next week you decide to issue 6100 new shares, you then have 1210 shares and I can't do anything about it with my previously 50%+ held shares getting down to 4.5%. Sounds fishy to me... This is exactly the point, your percentage doesn't matter whatsoever, as your dividends would stay the same. When we issue more shares, you aren't investing anything more. However, we are investing more into the fund when we issue more shares. We are essentially buying the shares. Sorry, I might be wrong by being stuck to the traditional stock market. There the market capitalization does not correspond to the sum of company assets but also reflects the investors' hope and expectations (Apple has never ever assets worth half a trillion US$, right). Therefore your claim is true if the FUND exactly matches the market cap. But how about this: assume you're ueber successful with your IPO and people are buying SS shares like crazy => 10BTC/SS. You issue another 610 shares, get 1100 from new investors and put 100 aside as risk fund => your profit 1000BTC ;) Or you don't expect SS shares to sky-rocket? Title: Re: [GLBSE] S² Capital Management Post by: smickles on March 27, 2012, 10:08:47 PM I see, but this is not how it usually goes. If new shares are issued, the existing holders get the chance to buy new shares with a given ratio according to already held ones. But typically none (including management aka the OFFICERS OF THE FUND) get shares for free. I'm not sure that I understand your concern with having a give percentage of the number of shares. Can you explain that to me a little further?Say I'd jump in big and buy 306 shares today. Next week you decide to issue 6100 new shares, you then have 1210 shares and I can't do anything about it with my previously 50%+ held shares getting down to 4.5%. Sounds fishy to me... This is exactly the point, your percentage doesn't matter whatsoever, as your dividends would stay the same. When we issue more shares, you aren't investing anything more. However, we are investing more into the fund when we issue more shares. We are essentially buying the shares. Sorry, I might be wrong by being stuck to the traditional stock market. There the market capitalization does not correspond to the sum of company assets but also reflects the investors' hope and expectations (Apple has never ever assets worth half a trillion US$, right). Therefore your claim is true if the FUND exactly matches the market cap. But how about this: assume you're ueber successful with your IPO and people are buying SS shares like crazy => 10BTC/SS. You issue another 610 shares, get 1100 from new investors and put 100 aside as risk fund => your profit 1000BTC ;) Or you don't expect SS shares to sky-rocket? EDIT: Further discussion has brought us to the conclusion that, in order to avoid devaluing current investor's shares, new shares would be issued at market value. Title: Re: [GLBSE] S² Capital Management Post by: splatster on March 27, 2012, 10:08:55 PM I see, but this is not how it usually goes. If new shares are issued, the existing holders get the chance to buy new shares with a given ratio according to already held ones. But typically none (including management aka the OFFICERS OF THE FUND) get shares for free. I'm not sure that I understand your concern with having a give percentage of the number of shares. Can you explain that to me a little further?Say I'd jump in big and buy 306 shares today. Next week you decide to issue 6100 new shares, you then have 1210 shares and I can't do anything about it with my previously 50%+ held shares getting down to 4.5%. Sounds fishy to me... This is exactly the point, your percentage doesn't matter whatsoever, as your dividends would stay the same. When we issue more shares, you aren't investing anything more. However, we are investing more into the fund when we issue more shares. We are essentially buying the shares. Sorry, I might be wrong by being stuck to the traditional stock market. There the market capitalization does not correspond to the sum of company assets but also reflects the investors' hope and expectations (Apple has never ever assets worth half a trillion US$, right). Therefore your claim is true if the FUND exactly matches the market cap. But how about this: assume you're ueber successful with your IPO and people are buying SS shares like crazy => 10BTC/SS. You issue another 610 shares, get 1100 from new investors and put 100 aside as risk fund => your profit 1000BTC ;) Or you don't expect SS shares to sky-rocket? UPDATE: After some intense talking in IRC, we have decided that all future IPOs will be done at the going market rate. Title: Re: [GLBSE] S² Capital Management Post by: smickles on March 27, 2012, 10:11:32 PM Or you don't expect SS shares to sky-rocket? I do expect SS share value to do well, and I expect to be justly compensated for contributing to that success.Title: Re: [GLBSE] S² Capital Management Post by: zefir on March 27, 2012, 10:28:07 PM [...] Therefore your claim is true if the FUND exactly matches the market cap. But how about this: assume you're ueber successful with your IPO and people are buying SS shares like crazy => 10BTC/SS. You issue another 610 shares, get 1100 from new investors and put 100 aside as risk fund => your profit 1000BTC ;) Or you don't expect SS shares to sky-rocket? All of our IPOs will be at 1 BTC each. We will never change this so as to maintain the ratio. Thanks, need to go back and read more how primary vs. secondary shares are handled in the 'real' world. Will need to hurry to come back, only 295 shares left... Title: Re: [GLBSE] S² Capital Management Post by: smickles on March 27, 2012, 10:31:26 PM [...] Therefore your claim is true if the FUND exactly matches the market cap. But how about this: assume you're ueber successful with your IPO and people are buying SS shares like crazy => 10BTC/SS. You issue another 610 shares, get 1100 from new investors and put 100 aside as risk fund => your profit 1000BTC ;) Or you don't expect SS shares to sky-rocket? All of our IPOs will be at 1 BTC each. We will never change this so as to maintain the ratio. Thanks, need to go back and read more how primary vs. secondary shares are handled in the 'real' world. Will need to hurry to come back, only 295 shares left... EDIT: Further discussion has brought us to the conclusion that, in order to avoid devaluing current investor's shares, new shares would be issued at market value. Title: Re: [GLBSE] S² Capital Management Post by: zefir on March 27, 2012, 10:38:52 PM [...] If the secondary market values the shares at more than 1 btc, then clearly the free market has decided that the entity created by the terms of those shares (which clearly included the distribution which you seem to be criticizing) is worth more than 1 btc. I don't see a problem here.Thanks, need to go back and read more how primary vs. secondary shares are handled in the 'real' world. Will need to hurry to come back, only 295 shares left... Title: Re: [GLBSE] S² Capital Management Post by: smickles on March 27, 2012, 11:11:51 PM We've made a couple of edits regarding the price at issuance of new shares. I've included the sentence "Further discussion has brought us to the conclusion that, in order to avoid devaluing current investor's shares, new shares would be issued at market value." on each of these in my posts.
Title: Re: [GLBSE] S² Capital Management Post by: eroxors on March 28, 2012, 01:37:48 PM Won't granting yourself 18+% of any new share issued devalue the stock?
This doesn't really sit well with me because you are essentially incentivized by issuing new stock instead of being incentivized by making a profit for investors. I'm fine with the initial 18% going to the fund officers, but I think they should just keep some of the profits as re-occurring "payment" instead of issuing new shares for an 18% payday. Also, simply leveraging 100BTC doesn't mean you're actually giving 100BTC to the fund, it just means it's available. And, the dilution of percentage IS important for voting purposes. Are the officers allowed to sell their initial shares? Are they allowed to vote? I would simply suggest that any expansion be put to in a motion and that motion should include payment specifics for the officers. I also think that the officers should abstain from voting. Title: Re: [GLBSE] S² Capital Management Post by: 2weiX on March 28, 2012, 01:39:02 PM https://glbse.com/asset/view/SS (https://glbse.com/asset/view/SS) nice one^^ Title: Re: [GLBSE] S² Capital Management Post by: Nefario on March 28, 2012, 02:23:04 PM I wish to participate. The wall of text hurts my eyes. Where do I send my money :) http://media.giantbomb.com/uploads/10/100614/1855648-shut_up_and_take_my_money_super.jpg Title: Re: [GLBSE] S² Capital Management Post by: zefir on March 28, 2012, 03:30:42 PM Won't granting yourself 18+% of any new share issued devalue the stock? This doesn't really sit well with me because you are essentially incentivized by issuing new stock instead of being incentivized by making a profit for investors. I'm fine with the initial 18% going to the fund officers, but I think they should just keep some of the profits as re-occurring "payment" instead of issuing new shares for an 18% payday. Also, simply leveraging 100BTC doesn't mean you're actually giving 100BTC to the fund, it just means it's available. And, the dilution of percentage IS important for voting purposes. Are the officers allowed to sell their initial shares? Are they allowed to vote? I would simply suggest that any expansion be put to in a motion and that motion should include payment specifics for the officers. I also think that the officers should abstain from voting. Thank you for putting my concerns in this easy to understand sentences. Still not clear if 10/61 from new shares go directly to THE RESERVE or not, however 1/61 always go directly to the officers... Anyhow, its useless now, ask prices doubled to 2BTC meanwhile. Title: Re: [GLBSE] S² Capital Management Post by: smickles on March 28, 2012, 03:45:31 PM Won't granting yourself 18+% of any new share issued devalue the stock? "Are the officers allowed to sell their initial shares?" Currently, yes.This doesn't really sit well with me because you are essentially incentivized by issuing new stock instead of being incentivized by making a profit for investors. I'm fine with the initial 18% going to the fund officers, but I think they should just keep some of the profits as re-occurring "payment" instead of issuing new shares for an 18% payday. Also, simply leveraging 100BTC doesn't mean you're actually giving 100BTC to the fund, it just means it's available. And, the dilution of percentage IS important for voting purposes. Are the officers allowed to sell their initial shares? Are they allowed to vote? I would simply suggest that any expansion be put to in a motion and that motion should include payment specifics for the officers. I also think that the officers should abstain from voting. "Are they allowed to vote?" Yes. We took care to point out both those points in the terms. Quote The shares withheld for the officers of THE FUND are identical to the shares offered to the public and convey the same rights as to any owner of the shares. As for issuing the officers the stated amount of stock, we saw constructing the fund in this was as providing incentive for the officers to make a profit and build in more incentive by having a financial stake in the fund.We are of course open to discussion of such an expansion which you suggest here, however, I would like to point out that, as per the current terms, such a motion (and the voting on such a motion) is outside the current rights of the shareholders. Title: Re: [GLBSE] S² Capital Management Post by: smickles on March 28, 2012, 03:47:13 PM I wish to participate. The wall of text hurts my eyes. Where do I send my money :) All of the IPO shares have already been sold, however you can purchase shares on the secondary market by creating an account at glbse.com and sending btc to your account there.Title: Re: [GLBSE] S² Capital Management Post by: smickles on March 28, 2012, 03:49:15 PM Won't granting yourself 18+% of any new share issued devalue the stock? This doesn't really sit well with me because you are essentially incentivized by issuing new stock instead of being incentivized by making a profit for investors. I'm fine with the initial 18% going to the fund officers, but I think they should just keep some of the profits as re-occurring "payment" instead of issuing new shares for an 18% payday. Also, simply leveraging 100BTC doesn't mean you're actually giving 100BTC to the fund, it just means it's available. And, the dilution of percentage IS important for voting purposes. Are the officers allowed to sell their initial shares? Are they allowed to vote? I would simply suggest that any expansion be put to in a motion and that motion should include payment specifics for the officers. I also think that the officers should abstain from voting. Thank you for putting my concerns in this easy to understand sentences. Still not clear if 10/61 from new shares go directly to THE RESERVE or not, however 1/61 always go directly to the officers... Anyhow, its useless now, ask prices doubled to 2BTC meanwhile. Title: Re: [GLBSE] S² Capital Management Post by: guruvan on April 02, 2012, 04:39:22 AM I wish to participate. The wall of text hurts my eyes. Where do I send my money :) All of the IPO shares have already been sold, however you can purchase shares on the secondary market by creating an account at glbse.com and sending btc to your account there.I should have payed closer attention yesterday and now I've missed out. Lot's of excitement on this one, but still - shares are available - a little expensive for me today (with no historical fundamentals yet) so I'll wait, see if the IPO excitement dies down - If not, I don't mind buying in high and selling higher ;) Title: Re: [GLBSE] S² Capital Management Post by: smickles on April 06, 2012, 02:05:05 PM 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: [GLBSE] S² Capital Management Post by: smickles on April 17, 2012, 02:43:21 AM April Financial Report
Feel free to ask any questions. (Best viewed as plain text, fixed width font) Code: -----BEGIN PGP SIGNED MESSAGE----- Title: Re: [GLBSE] S² Capital Management Post by: smickles on April 17, 2012, 06:28:40 PM The dividend has been paid. Forward earnings report to follow.
Title: Re: [GLBSE] S² Capital Management Post by: splatster on April 20, 2012, 05:59:26 AM S²CM Update:
As of April 19, Banco de Kluge is no longer a borrower of S²CM assets. Kluge citied reasons related to changes in his operations as to why he cancelled our deposit. The money that was invested with BDK is already being reinvested as of this writing. I will update this post when all the funds have been invested in new places. Another thing to note: this will delay our forward earnings report understandably due to the shuffling of funds. Expect to see the earnings report in about a week once all the interest payments have normalized. Title: Re: [GLBSE] S² Capital Management Post by: splatster on April 24, 2012, 02:49:23 AM S²CM Forward Earnings Report for the April-May Financial Period
Looking ahead, we expect May revenue to be 96.3 BTC. This amounts to diluted earnings per share of 0.15786885 BTC. This is a forward-looking statement including, without limitation, those about S²CM's estimated revenue and earnings per share. This statement involves risk and uncertainties, and actual results may differ. Risks and uncertainties include, without limitation, the effect of competitive and economic factors, and S²CM’s reaction to those factors. Below is a GPG signed copy of this message. Code: -----BEGIN PGP SIGNED MESSAGE----- Title: S²CM May Financial Report Post by: smickles on May 17, 2012, 02:50:50 AM Code: -----BEGIN PGP SIGNED MESSAGE----- Title: S²CM Special Announcement Post by: splatster on May 17, 2012, 04:26:56 AM S²CM Special Announcement
After much careful consideration, both Smickles and I believe it is in the best interest of S²CM, our shareholders, and future investors, to expand the fund in terms of capital. We have decided that on May 27 of this year, we will issue 305 additional shares of S²CM. 250 shares will be auctioned publicly and will be sold at a price not less than 2 BTC per share. 55 shares will be distributed to the officers of the fund. 10/61 of the total value of the shares issued will be added to the reserve, as per the terms of the S²CM shareholder contract. All proceeds will be invested along side the rest of the fund's capital. Below is a GPG signed copy of the above message. Code: -----BEGIN PGP SIGNED MESSAGE----- Title: Re: [GLBSE] S² Capital Management Post by: brendio on May 17, 2012, 06:08:36 AM I just looked at your recent results and you are providing some decent income. Well done! I looked into to buying some shares. However, I calculated your NAV per share and see that you are trading around 2 times asset value. :o After the new issue, you'll come down to a 69% premium. People obviously think these super interest rates are around to stay to be paying such a premium. I'd be interested more at around a 15% max. premium to net assets. All the best!
Title: Re: [GLBSE] S² Capital Management Post by: smickles on May 17, 2012, 06:14:27 PM I just looked at your recent results and you are providing some decent income. Well done! I looked into to buying some shares. However, I calculated your NAV per share and see that you are trading around 2 times asset value. :o After the new issue, you'll come down to a 69% premium. People obviously think these super interest rates are around to stay to be paying such a premium. I'd be interested more at around a 15% max. premium to net assets. All the best! Thank you for your encouragement and for taking the time to make thorough attempt at valuing S²CM stock. I'm sorry to hear that you will not be interest in buying S²CM stock at the coming issuance. Although it is unlikely that the current "super interest rates" will continue forever, it is, to my knowledge, the goal of our CFO to take advantage of them in as safe a manner as is practical for as long as it is practical. I believe that our shareholders recognize and value this in addition to our asset value, superior financial reporting when compared to our peers, and other considerations. I'd like to finally thank you for posting this publicly. I do enjoy public discussion of valuation of "Bitcoin Securities" (as this forum has classified them) and I can see nothing but benefit to the community coming from such discussion. Title: Dividend Payment Announcement Post by: smickles on May 18, 2012, 12:24:20 AM The dividend has been paid.
Title: S² Capital Management: Second Issuance has Ended Post by: splatster on May 27, 2012, 11:06:10 PM The second issuance of shares for S²CM has ended. All 250 shares we sold at 2 BTC each, bought all at once by Azelphur, who was kind enough to make a meme regarding his purchase.
http://cdn.memegenerator.net/instances/400x/21040353.jpg Title: Re: S² Capital Management: Second Issuance has Ended Post by: brendio on May 28, 2012, 03:45:48 AM The second issuance of shares for S²CM has ended. All 250 shares we sold at 2 BTC each, bought all at once by Azelphur, who was kind enough to make a meme regarding his purchase. lol.http://cdn.memegenerator.net/instances/400x/21040353.jpg IOU has some competition in the underwriting business. Title: Re: [GLBSE] S² Capital Management Post by: koin on June 07, 2012, 09:12:17 PM does this impact this asset? Leaving Bitcoin https://bitcointalk.org/index.php?topic=86110.0
Title: Re: [GLBSE] S² Capital Management Post by: smickles on June 07, 2012, 09:15:16 PM does this impact this asset? Leaving Bitcoin https://bitcointalk.org/index.php?topic=86110.0 We'll still be continuing operation. There will be some internal transition and part of that will be taking on a new CIO.Title: Re: [GLBSE] S² Capital Management — Dissolution Motion Raised Post by: smickles on June 07, 2012, 10:52:28 PM A shareholder wishes to raise a dissolution motion.
This motion is said to be raised in light of the fact that splatster will be leaving his position as CIO. Should the motion pass, S²CM will convert all its assets to BTC distribute the BTC to the shareholders and cease operation. Should the motion fail, S²CM will continue operation as usual. This topic is now up for public discussion and voting on the motion via GLBSE https://glbse.com/vote/view/37 If you wish to vote, you must cast your vote before the expiration which is set for 7 days from today. Title: Re: [GLBSE] S² Capital Management — Dissolution Motion Raised Post by: smickles on June 07, 2012, 11:04:25 PM A shareholder wishes to raise a dissolution motion. It should be known that in the event the motion fails, I will be interim CIO and S²CM will hire a new CIO when we've found a suitable replacement.This motion is said to be raised in light of the fact that splatster will be leaving his position as CIO. Should the motion pass, S²CM will convert all its assets to BTC distribute the BTC to the shareholders and cease operation. Should the motion fail, S²CM will continue operation as usual. This topic is now up for public discussion and voting on the motion via GLBSE https://glbse.com/vote/view/37 If you wish to vote, you must cast your vote before the expiration which is set for 7 days from today. Title: Re: [GLBSE] S² Capital Management Post by: smickles on June 07, 2012, 11:14:50 PM As the CFO and soon to be interim CIO, it is my considered opinion that it is in the best interest of the shareholders to vote against the motion.
My reason for this opinion is that S²CM's net asset value is well below the current and average share price. I believe that we can maintain a greater share price than net asset value even after splatster has left us. I mean this to in no way be negative comment on splatster or his performance for S²CM. Clearly he has done us well. Title: Re: [GLBSE] S² Capital Management Post by: imsaguy on June 09, 2012, 06:06:06 PM -----BEGIN PGP SIGNED MESSAGE----- Hash: SHA1 A few days ago, Splatster announced he was leaving bitcoin. Much like everyone else, I was caught by surprise. My thoughts then proceeded to what do I do about EIEIO? S² Capital Management had invested a sum of coins with EIEIO and if S² Capital Management is to be dissolved, they're obviously going to need their coins back so they can pay their shareholders. EIEIO isn't a Pirate Passthrough and only keeps a limited number of coins liquid with everything else being applied to operations, so I made some arrangements to make sure I had enough coins readily liquid and then reached out to Splatster to inquire about the future direction of S² Capital Management. His response, however, caught me slightly off guard. In short, I have been invited to be the next CIO of S² Capital Management. Two things immediately came to mind: 1) What happens with EIEIO? Isn't it a conflict of interest? In short, since the arrangements were already negotiated some time ago and there's no current plan to change them, things will operate 'as is'. If, in the future, there comes a time where something comes up, then smickles will be deferred to to make the final decision. EIEIO and S² Capital Management are largely non-competing entities, which greatly reduces the opportunity for conflict. Everything will be done above board and full disclosure given when warranted. smickles handles the reporting and dividend payouts, so there is a degree of checks and balances. 2) What happens with S² Capital Management? In talking with both Splatster and smickles, their largest shareholders have expressed an interest in things continuing 'as is'. Currently, the majority/all of the investible funds are already invested so as long as payments continue how they are supposed to, S² Capital Management will be exactly as is. The way forward I have paid splatster his original escrow money so I now have a large investment in S² Capital Management's future. Splatster and smickles will work with me to get me caught up on different investment opportunities that S² Capital Management is involved with. I will speak with any of the known shareholders and answer any questions they might have. -----BEGIN PGP SIGNATURE----- Version: GnuPG v2.0.19 (MingW32) iQIcBAEBAgAGBQJP05CBAAoJEH1+p2d25s5IR8AP/2yEwlqfV2adPr55n0OEv+7L LzgIqHhERULJGkoUL5cLQLJRA9D9atPIT2nqzuiaxZ55TA6XlpjH2Lmffzj8WWvf xcgcBddNGbXUBHYyH+BhlrDu7hTdwi75lpLayNkEyTZFjIIB4bsIhgzaqs8LnZDE UjdgwAQbmMxyyewfehZma53c9O4RfdIf+vaYb6h5mDbDlX82qHK8+Kw7ynqs0NQE /oxh5VJXNkxltbCF+cdO/sl++gocPKAiOWJb2ett119NqTN6/y0hb95htHcFpGCF 6MlS0M4mPHfZ5VjyYCKS4VkNMQ6qCkj2the5LsWALhAi1/CQ2Rwj7c2prUHW3CZq zEVH14EUCmdkCUKPKCOmjcInkaxIUzjGWCtUC+SXYIBZSQf6PeYAM9184XM3S5TJ VJOZHnl7tJ3mEiqbNapJjI2AXG9uo+trOOaaMEDx88CaoX8gWKnifkFFgvG3kFWQ bcxHu81M5qgKCLSiqLSSlsxpCC+PwCVnSANVtq57M4839yNz2PMQbOgPmUyTvzrx vbQcceM3XJdZ/pRT1QXMGqb1TqrUXo+PzTUkiW31yvRPOKEavSaMW4JzWu+m/rtW uZmsa79+ziaUX3misLOk/rUFkqtQ7ElccuAqaz0yxDxcmm6q6CBhUM9OLxj/7LZO a6mlvdEggb5z4+48kPVp =55f4 -----END PGP SIGNATURE----- Title: Re: [GLBSE] S² Capital Management Post by: Philj on June 09, 2012, 06:09:05 PM Congrats on the new position. You seem to be the perfect person to take it over.
Title: Re: [GLBSE] S² Capital Management Post by: PsychoticBoy on June 09, 2012, 06:15:02 PM Congratulations imsaguy ;D
Good luck with S²CM. Still sad to see splatster leave :( Greetz Title: Re: [GLBSE] S² Capital Management Post by: imsaguy on June 12, 2012, 03:00:38 AM In the interest of reducing the exposure between my other ventures and S² Capital Management, I've made my first investment decision. S² Capital Management has invested in the Bitcoin Investment Bank (BIB). Its on a 1 month contract with the possibility for extension. Hopefully this helps to alleviate any concerns about conflict of interest.
Expect a few more smaller deals to be announced to fully close out my non-management positions with S² Capital Management. As always, I can be found here on the forums, on IRC, or on Skype if you have any questions or concerns. Title: Re: [GLBSE] S² Capital Management Post by: brendio on June 12, 2012, 03:24:32 AM In the interest of reducing the exposure between my other ventures and S² Capital Management, I've made my first investment decision. S² Capital Management has invested in the Bitcoin Investment Bank (BIB). Its on a 1 month contract with the possibility for extension. Hopefully this helps to alleviate any concerns about conflict of interest. I confirm and welcome this investment in the Bitcoin Investment Bank.Expect a few more smaller deals to be announced to fully close out my non-management positions with S² Capital Management. As always, I can be found here on the forums, on IRC, or on Skype if you have any questions or concerns. I would just like to add, for the benefit of S²CM investors, that while BIB is the issuer of the BIB.PIRATE bond, BIB takes risk management seriously and BIB is personally exposed to less than 3 % of value of issued BIB.PIRATE bonds. The investment by S²CM provides general working capital, is guaranteed by BIB even in the event of a default by BS&T and is backed by GLBSE assets valued at a multiple of the investment sum. Title: Re: [GLBSE] S² Capital Management Post by: brendio on June 12, 2012, 06:18:53 AM I would just like to add, for the benefit of S²CM investors, that while BIB is the issuer of the BIB.PIRATE bond, BIB takes risk management seriously and BIB is personally exposed to less than 3 % of value of issued BIB.PIRATE bonds. The investment by S²CM provides general working capital, is guaranteed by BIB even in the event of a default by BS&T and is backed by GLBSE assets valued at a multiple of the investment sum. Do these assets have existing claims against them, for example, are they being used to pay dividends? Title: Re: [GLBSE] S² Capital Management — June Financial Report Post by: smickles on June 17, 2012, 03:17:09 AM Code: -----BEGIN PGP SIGNED MESSAGE----- Title: Re: [GLBSE] S² Capital Management Post by: ErebusBat on June 22, 2012, 03:49:04 PM @smickles
What software do you use to generate that report, it is very clean, surely you don't do it by hand ;) Title: Re: [GLBSE] S² Capital Management Post by: smickles on June 25, 2012, 01:37:44 PM @smickles sorry for the late reply. I have had some traveling to take care of. What software do you use to generate that report, it is very clean, surely you don't do it by hand ;) of course I don't generate the reports by hand. I use a text editor ;) Title: Re: [GLBSE] S² Capital Management Post by: ErebusBat on June 26, 2012, 03:15:23 AM @smickles sorry for the late reply. I have had some traveling to take care of. What software do you use to generate that report, it is very clean, surely you don't do it by hand ;) of course I don't generate the reports by hand. I use a text editor ;) hardcore Title: Re: [GLBSE] S² Capital Management Post by: imsaguy on June 26, 2012, 04:03:39 AM @smickles sorry for the late reply. I have had some traveling to take care of. What software do you use to generate that report, it is very clean, surely you don't do it by hand ;) of course I don't generate the reports by hand. I use a text editor ;) hardcore Title: Re: [GLBSE] S² Capital Management Post by: Bitcoin Oz on June 26, 2012, 05:53:44 AM @smickles sorry for the late reply. I have had some traveling to take care of. What software do you use to generate that report, it is very clean, surely you don't do it by hand ;) of course I don't generate the reports by hand. I use a text editor ;) hardcore lol Title: Re: [GLBSE] S² Capital Management Post by: ErebusBat on June 26, 2012, 12:34:18 PM @smickles sorry for the late reply. I have had some traveling to take care of. What software do you use to generate that report, it is very clean, surely you don't do it by hand ;) of course I don't generate the reports by hand. I use a text editor ;) hardcore Funniest meme ever! Title: Re: [GLBSE] S² Capital Management Post by: memvola on July 18, 2012, 09:30:45 PM Hey! What's the July report/dividend situation? Is notepad broken? ::) Try emacs. 8)
Title: Re: [GLBSE] S² Capital Management Post by: teek on July 18, 2012, 09:31:59 PM Hey! What's the July report/dividend situation? Is notepad broken? ::) Try emacs. 8) +1 Title: Re: [GLBSE] S² Capital Management Post by: smickles on July 18, 2012, 09:35:15 PM Hey! What's the July report/dividend situation? Is notepad broken? ::) Try emacs. 8) The current situation is that I've sent the dividend funds to glbse and it's not yet in the account after 8 confirmations.The whole situation is that I haven't yet completed the report, caused by personal issues which should not have affected my performance for S2CM. I expect the dividend to be posted shortly and I will have the report completed as soon as I can. I will be working on nothing but the report for the rest of today. I'm sorry for not doing what I have promised to have done. Title: Re: [GLBSE] S² Capital Management Post by: smickles on July 18, 2012, 09:38:23 PM The dividend has gone through.
0.14142077 BTC per share. Title: Re: [GLBSE] S² Capital Management Post by: memvola on July 18, 2012, 09:40:34 PM I'm sorry for not doing what I have promised to have done. This is one of the best managed assets out there. Thank you for taking this seriously. Title: Re: [GLBSE] S² Capital Management - Insider Action Post by: smickles on July 19, 2012, 01:15:29 PM Code: -----BEGIN PGP SIGNED MESSAGE----- Title: Re: [GLBSE] S² Capital Management Post by: smickles on August 05, 2012, 09:37:01 PM Code: -----BEGIN PGP SIGNED MESSAGE----- Title: Re: [GLBSE] S² Capital Management — July Financial Report Post by: smickles on August 15, 2012, 10:42:40 PM Code: -----BEGIN PGP SIGNED MESSAGE----- Title: Re: [GLBSE] S² Capital Management Post by: smickles on August 16, 2012, 09:40:20 PM Code: -----BEGIN PGP SIGNED MESSAGE----- Title: Re: [GLBSE] S² Capital Management Post by: brendio on August 16, 2012, 09:58:36 PM Code: -----BEGIN PGP SIGNED MESSAGE----- Title: Re: [GLBSE] S² Capital Management Post by: smickles on August 16, 2012, 10:00:38 PM Code: -----BEGIN PGP SIGNED MESSAGE----- Title: Re: [GLBSE] S² Capital Management — August Financial Report Post by: smickles on August 17, 2012, 01:31:56 AM Code: -----BEGIN PGP SIGNED MESSAGE----- Title: Re: [GLBSE] S² Capital Management August Financials Available Post by: SaintFlow on August 28, 2012, 03:32:00 PM Is a major price correction coming to SS because of pirate exposure?
Title: Re: [GLBSE] S² Capital Management August Financials Available Post by: smickles on August 28, 2012, 04:15:36 PM Is a major price correction coming to SS because of pirate exposure? Should pirate fail to return the BTC that he owes. S²CM stands to lose 450 btc. 400 of this is insured. Assuming this occurs, the incidental cash flow will be -50 BTC. As our share price has traditionally traded well above our NAV, I do not anticipate a significant price correction. (Edited for wording.) Title: Re: [GLBSE] S² Capital Management August Financials Available Post by: smickles on August 28, 2012, 04:25:25 PM I have received demand for a stock split.
Some people have been wanting to buy shares in S²CM but have not been able to as the current price per share does not allow them to purchase in the required portions to maintain their desired balance of assets. As a split does not harm the value held by shareholders, and, due to this demand, would seem to increase the market value, unless there are any objections, I will arrange a 100-for-1 split to occur on September 4th. Title: Re: [GLBSE] S² Capital Management August Financials Available Post by: xkrikl on August 28, 2012, 07:41:27 PM I have received demand for a stock split. Some people have been wanting to buy shares in S²CM but have not been able to as the current price per share does not allow them to purchase in the required portions to maintain their desired balance of assets. As a split does not harm the value held by shareholders, and, due to this demand, would seem to increase the market value, unless there are any objections, I will arrange a 100-for-1 split to occur on September 4th. How do you plan to do it? Does GLBSE has any provision for it? If not, how do you identify the shareholders? And if you transfer extra shares to everybody then there are fees. Sorry, just curious. Pajka Title: Re: [GLBSE] S² Capital Management August Financials Available Post by: smickles on August 28, 2012, 08:05:39 PM I have received demand for a stock split. Some people have been wanting to buy shares in S²CM but have not been able to as the current price per share does not allow them to purchase in the required portions to maintain their desired balance of assets. As a split does not harm the value held by shareholders, and, due to this demand, would seem to increase the market value, unless there are any objections, I will arrange a 100-for-1 split to occur on September 4th. How do you plan to do it? Does GLBSE has any provision for it? If not, how do you identify the shareholders? And if you transfer extra shares to everybody then there are fees. Sorry, just curious. Pajka GLBSE does not (to my knowledge) offer a split functionality within their UI. I very much doubt that we would need to go through some kind of rigmarole where we issue more shares and identify shareholders. I don't anticipate any fees to be associated with this action. heh, no need to be sorry, curiosity is good :) Title: Re: [GLBSE] S² Capital Management August Financials Available Post by: macboy80 on August 29, 2012, 06:21:41 AM I have received demand for a stock split. Some people have been wanting to buy shares in S²CM but have not been able to as the current price per share does not allow them to purchase in the required portions to maintain their desired balance of assets. As a split does not harm the value held by shareholders, and, due to this demand, would seem to increase the market value, unless there are any objections, I will arrange a 100-for-1 split to occur on September 4th. I am very much interested in this ^ :) Title: 100 for 1 split scheduled Post by: smickles on September 05, 2012, 12:11:34 AM I have arranged with nefario for the split to happen in 12 hours.
All bids and asks will be canceled at that time, so be prepared to re-bid/ask. Again, this will be a 100 for 1 split. *If you have 5 shares now, you will have 500 after. *if the price is 1.6 now, it will be .016 after. Title: Re: 100 for 1 split scheduled Post by: smickles on September 06, 2012, 04:03:00 AM I have arranged with nefario for the split to happen in 12 hours. The split seems to have not occurred yet.All bids and asks will be canceled at that time, so be prepared to re-bid/ask. Again, this will be a 100 for 1 split. *If you have 5 shares now, you will have 500 after. *if the price is 1.6 now, it will be .016 after. Title: Re: [GLBSE] S² Capital Management August Financials Available Post by: Nefario on September 06, 2012, 06:37:04 PM 100 for 1 split has taken place, sorry for the delay.
Title: Re: [GLBSE] S² Capital Management August Financials Available Post by: smickles on September 17, 2012, 01:57:56 AM Code: -----BEGIN PGP SIGNED MESSAGE----- Title: Re: [GLBSE] S² Capital Management September Financials Available Post by: imsaguy on September 17, 2012, 02:06:39 AM Code: -----BEGIN PGP SIGNED MESSAGE----- Title: Re: [GLBSE] S² Capital Management September Financials Available Post by: aura.flux on September 30, 2012, 10:47:04 PM Absolute crap...
Title: Re: [GLBSE] S² Capital Management September Financials Available Post by: guruvan on October 01, 2012, 05:18:59 AM Absolute crap... ??? This has been one of the more successful funds on GLBSE, and has some of the best financial reporting. What's crap? It'd be awesome if the fund would change some to meet the market changes, and it would be super cool if it was listed on MPEx. I'd keep the shares that I'm currently selling on GLBSE. Title: Re: [GLBSE] S² Capital Management September Financials Available Post by: Bitcoin Oz on October 01, 2012, 07:18:02 AM Absolute crap... ??? This has been one of the more successful funds on GLBSE, and has some of the best financial reporting. What's crap? It'd be awesome if the fund would change some to meet the market changes, and it would be super cool if it was listed on MPEx. I'd keep the shares that I'm currently selling on GLBSE. Banco de Kluge First Pirate Savings and Trust Hashking's Lending and Deposits Imsaguy Starfish BCB These have all either defaulted or closed. So where does this fund deposit coins when the entire bitcoin deposit market has dissapeared ??? Title: Re: [GLBSE] S² Capital Management September Financials Available Post by: smickles on October 01, 2012, 01:51:51 PM Absolute crap... ??? This has been one of the more successful funds on GLBSE, and has some of the best financial reporting. What's crap? It'd be awesome if the fund would change some to meet the market changes, and it would be super cool if it was listed on MPEx. I'd keep the shares that I'm currently selling on GLBSE. Banco de Kluge First Pirate Savings and Trust Hashking's Lending and Deposits Imsaguy Starfish BCB These have all either defaulted or closed. So where does this fund deposit coins when the entire bitcoin deposit market has dissapeared ??? Title: Re: [GLBSE] S² Capital Management September Financials Available Post by: guruvan on October 04, 2012, 12:56:00 PM Absolute crap... ??? This has been one of the more successful funds on GLBSE, and has some of the best financial reporting. What's crap? It'd be awesome if the fund would change some to meet the market changes, and it would be super cool if it was listed on MPEx. I'd keep the shares that I'm currently selling on GLBSE. Banco de Kluge First Pirate Savings and Trust Hashking's Lending and Deposits Imsaguy Starfish BCB These have all either defaulted or closed. So where does this fund deposit coins when the entire bitcoin deposit market has dissapeared ??? GLBSE isn't the only place to invest funds. In fact, it seems it's the worst place to invest funds (but who knew before the end of piracy?). Also, "fixed income security" doesn't have to mean "publicly traded fixed income security" - there are private investment opportunities available. In fact, the best businesses to invest bitcoin in are not publicly traded. My main issue is that with SS still listed on GLBSE, it seems unlikely to ever get my original investment back out. Even if SS didn't hold a bunch of distressed assets, there's no one left to buy into my asks........ /me sighs If it weren't for the GLBSE issue, I'd be perfectly happy to hold out and wait for S2CM to put the reserve to work, and get the portfolio back in shape. I'd love to hear from you guys how you're going to handle this. Title: Re: [GLBSE] S² Capital Management September Financials Available Post by: memvola on October 04, 2012, 02:29:42 PM there's no one left to buy into my asks........ Unfortunately this is true, but I think it's likely to get better. On the other hand, as long as an asset is listed on GLBSE, the issuer can manually transfer shareholders' assets upon their request to another stock exchange. Title: Re: [GLBSE] S² Capital Management September Financials Available Post by: MPOE-PR on October 04, 2012, 05:51:59 PM Unfortunately this is true, but I think it's likely to get better. Nominated for the "Last Words" award. Title: Re: [GLBSE] S² Capital Management September Financials Available Post by: memvola on October 04, 2012, 07:51:29 PM Unfortunately this is true, but I think it's likely to get better. Nominated for the "Last Words" award. LOL, so true... Title: Re: [GLBSE] S² Capital Management September Financials Available Post by: guruvan on October 05, 2012, 06:41:10 PM If by "get better" you meant "disappear" :P
Maybe we'll get lucky and be able to get coin & assets out of it. Title: Re: [GLBSE] S² Capital Management September Financials Available Post by: smickles on October 05, 2012, 06:54:04 PM If by "get better" you meant "disappear" :P Well, imsaguy and I are still here. Also, with the exception of a few hundred satoshi which were left over after the last dividend payment, all of S²CM's assets are held off of glbse.Maybe we'll get lucky and be able to get coin & assets out of it. Title: Re: [GLBSE] S² Capital Management September Financials Available Post by: smickles on October 10, 2012, 12:46:25 AM When S2CM receives shareholder information from GLBSE, we will begin the process of dissolution.
This means that all non-BTC assets will be converted to BTC and distributed fairly to the shareholders. Since this is likely to take some time, as soon as is possible (given the state of GLBSE), shareholders will receive a dividend consisting of S2CM's BTC holdings at that time. As each non-BTC asset is converted, shareholders will receive additional dividends until the final asset is converted. With this final conversion, shareholders will receive the last of S2CM's BTC and value. At this time each share will be considered returned to S2CM and S2CM will dissolve and cease to exist. Title: Re: [GLBSE] S² Capital Management September Financials Available Post by: memvola on October 10, 2012, 01:23:39 AM When S2CM receives shareholder information from GLBSE, we will begin the process of dissolution. This means that all non-BTC assets will be converted to BTC and distributed fairly to the shareholders. Since this is likely to take some time, as soon as is possible (given the state of GLBSE), shareholders will receive a dividend consisting of S2CM's BTC holdings at that time. As each non-BTC asset is converted, shareholders will receive additional dividends until the final asset is converted. With this final conversion, shareholders will receive the last of S2CM's BTC and value. At this time each share will be considered returned to S2CM and S2CM will dissolve and cease to exist. Thanks for the update. Does S2CM have any assets as shares of companies or funds held on GLBSE? Title: Re: [GLBSE] S² Capital Management September Financials Available Post by: smickles on October 10, 2012, 01:49:13 AM When S2CM receives shareholder information from GLBSE, we will begin the process of dissolution. This means that all non-BTC assets will be converted to BTC and distributed fairly to the shareholders. Since this is likely to take some time, as soon as is possible (given the state of GLBSE), shareholders will receive a dividend consisting of S2CM's BTC holdings at that time. As each non-BTC asset is converted, shareholders will receive additional dividends until the final asset is converted. With this final conversion, shareholders will receive the last of S2CM's BTC and value. At this time each share will be considered returned to S2CM and S2CM will dissolve and cease to exist. Thanks for the update. Does S2CM have any assets as shares of companies or funds held on GLBSE? Title: Re: Closing October Financial Report Post by: smickles on October 16, 2012, 11:34:59 PM Code: -----BEGIN PGP SIGNED MESSAGE----- Title: Re: Closing Post by: guruvan on October 17, 2012, 02:13:42 AM Not bad! :)
Looks like I'll show a little loss on this, but all things considered, I'm quite pleased. S2CM is, by far, one of the best, if not the best, managed company that had been found on GLBSE. I'll be looking for companies to invest in that use your accounting services, smickles, in the future. Any word from nefario (or whomever @ GLBSE)? Title: Re: Closing Post by: smickles on October 17, 2012, 02:16:04 AM Not bad! :) Thanks for the kind words :)Looks like I'll show a little loss on this, but all things considered, I'm quite pleased. S2CM is, by far, one of the best, if not the best, managed company that had been found on GLBSE. I'll be looking for companies to invest in that use your accounting services, smickles, in the future. Any word from nefario (or whomever @ GLBSE)? No word from nefario or anyone else yet at glbse. :| Title: Re: Closing Post by: smickles on November 17, 2012, 09:01:21 PM As it stands now, the GLBSE issue is stagnant. Since it's entirely possible that we will never get shareholder information, we have stopped receiving payments from those who owe us btc (as it is possible they are just sending btc into a blackhole).
We will keep record of who owes us what, and, in the case that we receive shareholder information, we will receive and pursue all of what we are owed. Until then, we will consolidate all of our btc to one address and I will post that address here once that is done. This way all shareholders (and the public) can rest assured that the btc hasn't gone anywhere. Once this is done, I will not post any updates unless the GLBSE issue resolves. I will however answer any questions, posed to me here or on IRC, to the best of my ability. Title: Re: Closing Post by: memvola on November 17, 2012, 11:48:15 PM I will however answer any questions, posed to me here Do you have a claim process in your plans in case GLBSE doesn't reveal shareholder info to you? Title: Re: Closing Post by: smickles on November 18, 2012, 12:05:00 AM I will however answer any questions, posed to me here Do you have a claim process in your plans in case GLBSE doesn't reveal shareholder info to you? Title: Re: Closing Post by: smickles on November 18, 2012, 09:50:25 PM I have just sent the funds to the consolidation address.
1NdJakhKh5noWfEEvKMxwpnTrraytGVxEU Title: Re: Closing Post by: smickles on December 05, 2012, 10:19:18 PM I've just received shareholder information from nefario in the form of an unencrypted yaml file. Imsaguy and I will now begin the process of winding down and distributing the liquidated assets of S²CM.
Title: Re: Closing Post by: strello on December 06, 2012, 01:23:33 AM Great news!
Does this make you the first fund on the former GLBSE to begin paying out? What address will you be paying out to? Do you have the GLBSE withdrawal addresses for all holders, or do we need to make some sort of claim with a new withdrawal address? I hope others will follow your fine example. Title: Re: Closing Post by: smickles on December 06, 2012, 01:34:07 AM Does this make you the first fund on the former GLBSE to begin paying out? We'll have to wait until we actually start paying out as there is a little bit of winding down to do first.Quote What address will you be paying out to? Most likely the address in the data we received. Quote Do you have the GLBSE withdrawal addresses for all holders, or do we need to make some sort of claim with a new withdrawal address? It looks like we have been given the withdrawal addresses for all shareholders.Title: Re: Closing Post by: strello on December 06, 2012, 01:56:38 AM Thanks for the information, and good luck with the sorting out process.
I really appreciate all your hard work with this. Title: Re: Closing Post by: guruvan on December 06, 2012, 09:50:21 AM Thank you for your very professional manner handling this whole process, smickles. Very well done.
Title: Re: Closing Post by: jcpham on December 07, 2012, 04:22:31 AM I am very much still here also :) smickles is number 1!
Title: Re: Closing Post by: smickles on December 07, 2012, 07:21:06 PM We will begin distributing the BTC to shareholders before we have converted all assets to BTC.
In order to receive your share of the BTC on hand and future distributions, please follow this process: # Write a simple statement. At minimum include an estimate of the number of shares you own. It is acceptable to state that you do not recall the amount with any level of certainty. Example: I own 1500 shares. # Sign this statement with the key of the address which you made your claim to GLBSE with. Example: HH/yUL4XWZ2f6fu8c2HTJEJUYgkvTqozD/hhheL7slM8pTI0b8xVlDvYPQZ8Hqnjqueo80Tx1WdVFJtRAyeNePk= # Compose an email containing, in this order:
I own 1500 shares. HH/yUL4XWZ2f6fu8c2HTJEJUYgkvTqozD/hhheL7slM8pTI0b8xVlDvYPQZ8Hqnjqueo80Tx1WdVFJtRAyeNePk= 1MpzpeGueVUxptqRhheyfbUVS6nNbXi6DK # Simple email is not all that secure, so it would be best to encrypt this email. My PGP compatible public key is 0xEA62D7CEB2450C3F and can also be found in my signature here at the 'GPG' link, or in its WoT association at the 'WoT' link. Optionally, sign the entire email with your own PGP key, preferably one linked with your WoT id so we can be even more sure that nefario didn't fake the data. # Send the email to xiberphim@gmail.com If you require any assistance, don't hesitate to ask. I am here to help. As I process the claims, imsaguy will be converting our remaining assets to BTC. The majority of our value is currently in BTC and will be distributed as claims are received. Additional distributions will be made as the assets are converted until all assets have been converted. Once all assets have been converted and the final distribution made, this venture is ended. Title: Re: Closing Post by: jcpham on December 07, 2012, 07:42:29 PM -----BEGIN PGP MESSAGE-----
Version: GnuPG v1.4.11 (GNU/Linux) hQIMAwYbzn5sdrRyAQ//ZoJDvA6vZX1fv5kKZ0MpfUDFTZ9dyZKdb4YHkmjXp3D7 TN30xGizf5HEBRjlkhGHO56dTmSuNE4M/EAlBps3chU57ePl/MmoIQXvz7JzuYID ixVcTwh7mBLgeKBoJomkz/mbWGxlOhNa6eqQo0JZ+e+Vnxtr5qYj2kuVtii4GgaJ BCcSNvaXriIdpCe7K7MvS5tzxS2s9yuyr997YvtB+PMiwDTMmS+M3OQ3nspFJlJ9 qmTE76NINQHKkKqG0YGjfodpUXban+osxAo3uj4TXh8ZdnZIjKVAxBnmyPboFksw mAcj/kwoLI7U9/KDZA7TS87W8DnVDwxorRaRO2OlnFLW6SI5ZyEfC/kT3OG1sOs8 lRXvXHmUPNmreqwqGj38TmCr03r7PmtkQAUFU6J0KPSIPQVTUVN0zvdFaau4qslq +PrDAbgqjINQ8PVpboRA/YEqnaGVlXm1DoyxFhAUhjNInyziSFUToIqFiRNF7+h2 ppsz8Hoj5LPNs5HfilcwctVuR+7NAbrDtaicFPtHwiYMKFap4JwZ0sFEPkGKPEb9 yf0E7ePxmTa+Q3V99UYQ1Tx1Uhow2u40y7XVMTTSySRk9dGxZG2ZcoGxeauuWMtf WEQ2+cfg7iVpP3bb0YlL/UIHzrx+XqaXLb8agxYyi5raEWhg+yuYKuHi6pHbKgfS wCkB5i9e41RhH0r5rpa6/hNVdt8F7KIMPcy+TQVgKxINIJyFetWvBVDw0gRYwZMe liysQj9UbjbRN1iDWhkm3t6Wrm5d+eobUCfcAOLcmT3WdQDJ3G+qvLptZmSRERiO pUYNQAL9Kx0/ylN4nfjJEJn6HtaDrBUoFHd+nOfyuBJTrECTtMGrJ3BiqPyhuENw UHzKB0XSF4Ff2QSoUkC5VxIF6pg60ZxUq/sBlzfTs7KG5V5fxni7w0VjvNF6vhLI vOfepFfVLuV3U8r5RczaLYhBDJ+RrZCTdoqYqymmpLL29pmWb7LzsFgOgA== =/qrr -----END PGP MESSAGE----- Title: Re: Closing Post by: smickles on December 08, 2012, 03:28:04 AM First round of liquidation payments sent
Code: 19f3c8d849fe219a5c347528418633e2772ed5ad9a0e58217c4a47184697d0b5 Title: Re: Closing Post by: smickles on December 09, 2012, 03:53:20 AM Second round of liquidation payments sent
Code: dae3f31ee8445a3c925279e7f46d683f2814562d30169fe20e33a5d78d7569dd Title: Re: Closing Post by: smickles on December 11, 2012, 03:53:05 AM Today's payment
Code: 78749045d632e04f6c7bea776d1921bf1e76ed0e361d464fb2de861b2c38f595 Title: Re: Closing Post by: Factory on December 11, 2012, 03:56:50 AM Today's payment Code: 78749045d632e04f6c7bea776d1921bf1e76ed0e361d464fb2de861b2c38f595 I can confirm receiving my second payment. Thanks for keeping us informed and passing along the BTC as positioned are liquidated. Title: Re: Closing Post by: guruvan on December 12, 2012, 12:07:40 PM Hmm. I haven't received anything yet. IIRC I had a couple hundred shares left when everything closed. My payment address is obvious if it's in there. Should I still be expecting something?
Title: Re: Closing Post by: smickles on December 12, 2012, 05:17:50 PM Hmm. I haven't received anything yet. IIRC I had a couple hundred shares left when everything closed. My payment address is obvious if it's in there. Should I still be expecting something? Please see this post https://bitcointalk.org/index.php?topic=74216.msg1385017#msg1385017Over 76% of shareholders have made their claim. Through updates from nefario, his provided list seems to be correct and accounts for about 87% of shareholders. Title: Re: Closing Post by: guruvan on December 12, 2012, 07:49:52 PM Thanks :) Totally missed that post. Will take care of that today.
Title: Re: Closing Post by: guruvan on December 29, 2012, 09:39:34 PM Any update? No reply to email sent. Thanks.
Title: Re: Closing Post by: smickles on December 29, 2012, 09:46:16 PM Any update? Yes, I will soon send an additional payment to everyone who has come forward. Quote No reply to email sent. Thanks. I'm sorry that I did not respond sooner. It seems that your email was sent to the spam folder and, although I have been checking, I missed it. However, I have it now and you should expect to be included in this next round of payments.I will post a notice here of the txid when I've sent the payment. Title: Re: Closing Post by: guruvan on December 31, 2012, 03:36:33 PM No worries, I figured it must be that :)
Happy Holidays!! Title: Re: Closing Post by: smickles on December 31, 2012, 05:58:59 PM Code: 17b449d5b43d06929ff1983d824c7ac883b2c30d66b6ca48adffc9ea15737d74 Payment sent. Title: Re: Closing Post by: guruvan on January 01, 2013, 07:32:21 PM Thanks for the excellent communications. Will update your OTC rating asap.
Title: Re: Closing Post by: smickles on January 08, 2013, 10:03:55 PM Code: 5dcd31e7dc0e1f5797e9b12ea583b26d3c3a050a452343753026023f50af8027 Title: Re: Closing Post by: smickles on January 08, 2013, 10:34:34 PM Yes M, this was not additional funds. It was an additional claimant verified.
Title: Re: Closing Post by: memvola on January 08, 2013, 10:38:12 PM Yes M, this was not additional funds. It was an additional claimant verified. Thanks for explaining. I realized after I posted, hence the deletion. Title: Re: Closing Post by: KfrogCT on February 02, 2013, 04:58:39 PM Claim sent, thanxs
Kfrog Title: Re: Closing Post by: smickles on February 03, 2013, 05:44:53 PM I have just sent a payment.
Code: f3891f96741ff1772229f1ce8ddcbf0752054ed29f95d9ed0521fcb19e013360 This should be your final payment as we do not expect to receive any amount of bitcoins for our remaining assets. If you have not submitted a claim, I encourage you to do so soon. Note: One claimant requested that we keep what we owe them. I used it as the fee for this transaction. Title: Re: Closing Post by: smickles on August 18, 2013, 09:42:48 PM Code: 6e9ef09be6e7ac0be4e9079f00947756076e62c6b17048b90c235ca219f8156b Most people should have already been fully repaid. This payment settles with the people who delayed in making a claim. If you believe you should have received a payment and never have, please contact me soon. smickles@smickles.com |
