I'm British a mix of English, Irish and Welsh. Although my surname is also popular in Norway and Denmark. So I like to think I'm a viking
Issuer Details
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Matthew Holt
Red Star Mining
Virtual Corporation
matthewholt3@gmail.com[About your Company]A mining stock with a strong organic growth plan that may
end up also investing some of its profits into other investments. It has been
operating since January 2012
Website:
http://redstarmining.blogspot.com/Financials:
https://docs.google.com/spreadsheet/ccc?key=0AolvfZ07D-3SdHBuaGcxRUw3SEkwTzUyVXVqUzRPZFE#gid=0Bitcointalk:
https://bitcointalk.org/index.php?topic=63257.0Contract
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Section I - PreAmble
Red Star Mining, a mining stock with strong +<90% reinvestment of profits into growth until such a time we are greater than 50% of the network and/or company staff can make a living wage off their RSM wages solely.
Section II - Corporate Control
All major decisions can be decided by motion apart from Matthew Holt's removal as CEO, Chief Operator and Chairman of RSM decisions plus operations. Matthew Holt can only be removed as CEO, Chief Operator or Chairman in the cases of death or resignation. He can decide the next CEO and Chief Operator or shall be succeeded by the oldest RSM employee who shall be the temporary CEO until one is chosen by shareholder's motion.
No motions can also be held on reducing the growth fund unless one of the two conditions are met or the Chief Operator and Chairman agrees to it being held.
Section III - Staff
A salary of 5% of profits will be used to pay RSM staff. Modification of this amount up can only be decided by a majority motion of shareholders. Reduction of this amount can only be decided by the CEO and Chief Operator.
The CEO has the ultimate decision on employment of RSM staff. Shareholders can fire, but not hire, staff with a 51% motion.
Section IV - Clarification of Profit
RSM receives revenue from mining. All operating costs will be paid from these revenues creating post-cost revenues. 5% of post-cost revenues will be used for labour costs and go into the staff fund what remains is profits.
Section V - Re-investment and Dividends
At least 90% of profits will be reinvested into increasing RSM Hash-rate efficiency and/or into other strong growth/profit investments. The reminder will be paid out in dividends and/or used as a share buyback fund. Eventually the full amount for the dividend fund being passed through other suitable investments helping migrate RSM from just a mining corporation to a bitcoin conglomerate. So eventually the full amount earned by RSM for dividends will be passed through other investments before the full same amount eventually gets paid out into dividends. So as the total dividend payment remains unchanged. With the extra bonus income earned by the dividend investment fund investments to be reinvested in RSM growth.
Section VI - Motions
Any major shareholder can force a motion or any group of small investors with a combined holdings of at least 5% of shares unless the subject of the suggested motion effects one of the subjects of the two prohibited motions. Then if the suggested motion can effect one of the subjects of the two prohibited motions then its up to the chief operator and chairman on whether to run the motion.
Section VII - Liquidation
If RSM is forced to close (with the ultimate decision on that decided by the chief operator and chairman). Then all assets will be shared equally between all shares.
Executive Summary
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Red Star Mining, a mining stock with strong +<90% reinvestment of profits into growth until such a time we are greater than 51% of the network and/or company staff can make a living wage off their RSM wages solely.
Business Description
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Red Star Mining is a bitcoin mining corporation. We strive to acquire quality mining hardware and process bitcoin transactions.
Definition of the Market
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Bitcoin mining enables bitcoin as a currency to function properly and securely across the whole of the internet. See the wiki [https://en.bitcoin.it/wiki/Mining] for a technical introduction to bitcoin mining. Miners who successfully solve a block either individually or in tandem receive transaction fees from the latest set of transactions and a subsidy
Products and Services
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While Red Star Mining does suggest some other services we do not have customers in the classical sense. Our provided service is bitcoin hashing and while highly competitive our customer is the bitcoin network as a whole.
Organisation and Management
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CEO, Chief Operator & Chairman Matthew Holt (Matthew3h)
Staff
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Mining Foreman Canth
CFO Evlovex
Website/PR Guy Chalbersma
Marketing Strategy
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In bitcoin mining the best way to "market" your findings is by having a well connected node. It's possible that when RSM acquires enough hardware to make it "solo mining" that we may have to revisit our setup. Until then we will mine only on established/well connected pools to minimize the opportunity for orphaned blocks.
Financial Management
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Our broad financial plan includes taking 90% of profits (not revenues) and re-investing it in mining hardware to continually increase our hashing power. Our latest financial details can be found on our company spreadsheet. [https://docs.google.com/spreadsheet/ccc?key=0AolvfZ07D-3SdHBuaGcxRUw3SEkwTzUyVXVqUzRPZFE&pli=1#gid=0]
Tho I did edit a sentence or two and tried to Anglicise it to British English. I'll let shareholders read it over and see if anything needs to be added or omitted then it'll be put up for motion.
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This is some more stuff wrote by chalbersma -
It's a really important aspect for me (and most likely others).
