They were answered by Peter ages ago:)

https://bitcointalk.org/index.php?topic=595754.msg6551032#msg6551032

Ah sorry - that was updated on the site but not in the post; only part of it will be converted and put into the BTC multisig wallet; we have a working prototype of a VTC multisig wallet we're going to be using for the bulk of it:)

Not sure about Cyprus, but here the creditors can apply for court-ordered liquidation as long as there is both legal (balance sheet) insolvency as well as commercial insolvency.

So seeing as you've demonstrated a wealth of knowledge in the valuation of startups, how would you value the company for the purposes of the IPO?

It's private in the sense of it not being listed on an exchange. I think it carries the sense across; would you prefer I change the subject to "Unlisted IPO"?

And, notably, http://mpex.co

This is the securities sub-forum...where securities post details about things like, you know, IPOs...

"Apply with moderate force"

Reserved

Hi all - I'm involved in a Vertcoin payment gateway project called VertPay (if you're a regular on #bitcoin-assets and know me you will recognise that a deal has been struck and my payment gateway project has been rolled into this existing project). We're doing a private IPO, with a view to taking it to an exchange at a later stage (those exchanges I am comfortable will not implode will not look at a project like this at this stage). I'm doing the announcement here, as Peter Kuhn has just registered here and isn't in the OTC WoT, but he will be here to answer questions as well.




They say that an idea is great, but execution is everything. With that in mind, seed funding for VertPay has been provided by Peter Kuhn and Riccardo Spagni. This has enabled a small team to be put together to not only architect, plan, and begin development of the VertPay system, but also to begin seeking key merchants. For our final phase of development, our launch, and all of our marketing we have decided to open the project up to investment by the VertCoin community - a VertCoin driven IPO!

What's been done

All of the ground work has been laid from a regulatory and legal perspective, including incorporation outside of the United States. The software architecture has been finalised, the initial bank of servers have been configured and are live. Work has been progressing on the core of the software for some time. Our rates API is live, for example, and updates every 10 seconds or so. You can use it right now to get the rates of all of the fiat currencies supported, or the rate for any specific currency such as USD, GBP, or EUR! Merchant acquisition has also been moving along, although that is more recent than the architecture and development, and we are aiming to launch with a few very well known and influential merchants.

What still needs doing

On the software side there is still some work to be done integrating with backend financial systems, completing the API core, and completing the Merchant Management interface. Ongoing code reviews by our Internet security partner have begun, but a more intense final code review and pentesting will happen closer to launch. There is much to be done on the merchant acquisition side, and a great deal of marketing that has to be completed and planned. This is where the investment opportunity comes in.

How the IPO is structured

The IPO is going to raise a total of 200 000 VTC. To do this, VertPay will authorise 1 million shares (1 000 000), and issue a block of 200 000 shares at a nominal value of 1 VTC per share. On Monday, May 12th, 2014, a Vertcoin deposit address will be made available on the VertPay.com website, and investors will be able to send a round number of Vertcoin to that address. A portion of the Vertcoin received will be converted to Bitcoin in order to be stored in a multi-signature wallet and thus prevent the misuse of invested funds by any person within the company. In the event of an oversubscription of issued shares, VertPay's management team will decide whether to issue new shares to meet the oversubscription, or whether to refund those that have invested too late.

Whilst VertPay shareholders do not have voting rights, from time to time the management team may seek advisory, non-binding votes from shareholders on issues that will have a significant impact on their shareholding. Dividends will be paid in Vertcoin to all investors on a monthly basis, although revenue will not exist to pay dividends until VertPay's launch. Dividends will be derived from profits made in that month, and will be paid fairly to all shareholders in proportion to the shares they hold. Dividend payments will be made to the Vertcoin address that was used to make the initial investment. For this reason, shareholders will need to control the address they send from.

About the share agreements

All share agreements will be Vertcoin-signed by the investment Vertcoin address, and the signed agreements will be published for all shareholders to have access to them. Investors will be able to submit a Vertcoin-signed message with their backup email address, which can be used to verify a change in their dividend payout address in the event of them losing control of their original Vertcoin address. Investors will not be barred from trading their shares privately or running a pass-through, and changes in an investor's Vertcoin address can be made by means of a Vertcoin-signed message from the previous address. In future Vertpay may choose to list on a crypto-denominated stock market, in which case investors will be able to register there and have their shares issued to them on the exchange. You can view a sample share agreement here.

Additional information can be found on the VertPay.com website

I think you're confused, Peter Lambert doesn't "work with MPEX" and is not a direct competitor.

No, as you well know, the previous thread was being trolled (by the same person that started this thread, go figure) -

https://bitcointalk.org/index.php?action=trust;u=194572
https://bitcointalk.org/index.php?action=trust;u=189426
https://bitcointalk.org/index.php?action=trust;u=233600

Incidentally, I did not remove customer complaints. The ANN thread is full of people complaining (and then back-tracking when their order arrives within the expected timelines).

You guys aren't noobs? Oh good - what's your WoT account?

Is May not the 5th month of the year anymore???  Is December not one month before January.

I'm astounded that we're having this conversation considering I linked you to a date calculator: http://www.timeanddate.com/date/durationresult.html?d1=12&m1=12&y1=2013&d2=12&m2=5&y2=2014 - "From and including: Thursday, 12 December 2013; To, but not including Monday, 12 May 2014; Result: 5 months excluding the end date". If you had to do it on your fingers you could go "from Dec 12 to Jan 12 is 1 month. From Jan 12 to Feb 12 is 2 months. From Feb 12 to Mar 12 is 3 months. From Mar 12 to Apr 12 is 4 months. From Apr 12 to May 12 is 5 months."

We had to start another thread because fluffy was deleting everyones posts, i was even defending this asshole at the beginning.

Factually and provably incorrect. In the second post when I restarted that thread (https://bitcointalk.org/index.php?topic=470944.msg5197999#msg5197999) I said:

"Why did you close the previous thread and start a new one?

The trolling got really out of hand on the previous thread, so I had to start a new one that was self-moderated. That does not mean that this thread will be used to silence criticism. We are a very, very new company, and even though we're part of a larger group of companies that provides a lot of our infrastructure we've made mistakes and will definitely make mistakes in future. Therefore, we welcome constructive criticism - if we've messed up let us know and we will do what we can to fix it. We also empathise with customers that have chosen our cheapest shipping option (surface mail) and their delivery is taking extraordinarily long, we are keeping on eye on these and where the destination postal service confirms it has gotten lost our insurance does authorise a replacement or refund.

This thread is really meant to allow for potential customers to get answers to their questions, and for existing customers to talk about ways we can improve our frames and new features they'd like to see. If you are frustrated with a delivery that is taking forever, please feel free to PM me and moan. I'll even call you and you can rant on the phone;)"

I know that logic is deluding you today, so maybe try reading it slowly.

When i ordered, there was no fucking delay.

Except, you know, that there was. It was on the checkout page and on the delivery and returns policy. We put the notice up on December 6th, a full week before the affected date.

You came out after and said you ran out of material and while there was some sort of mail strike, you fucken let my package sit at the fucken post office for 2 fucken months. 

[citation needed]

We have never run out of material. I think you are quite confused.

Then, im to believe its going to take 4 fucken months to sail my fucken package to canada, a package that seems to share its tracking number with another package???

Typically 2-3 months from when it leaves the country, as it says on the checkout process and the delivery and returns policy.

So when will this package arrive? June 18th?  Thats 7 months after ordered!

Per our delivery and returns policy (you should maybe take the time to read it: "Shipping via regular surface mail typically takes up to 10 weeks (even longer if there are import delays at the destination country - the official stance from the post office is that it can take up to 13 weeks), and via courier typically takes a week or two at the most. Somewhat in the middle is EMS, which normally takes 2-4 weeks to arrive. Note that these timelines are from the day it leaves the country, and excludes the scheduling phase, fabrication, and customs pre-clearance. The speed at which customs completes their pre-clearance also depends on the shipping method selected - surface mail parcels can be delayed by many weeks if no vessel is bound for available for that destination. In view of all of this we strongly recommend that our customers choose EMS or Aramex as their shipping option."

I dont need this anymore, you should be able to redirect.  Give me my refund!!!!

We can't redirect, unfortunately. We will gladly claim from our insurer and refund you should your shipment go missing.


Bravery level = SO.

A lier? Like one who lies down a lot?

Just to clarify, again:

1. You can't count, it is not 6 months now. It isn't even 5 months now. I would've thought this wouldn't be a tough thing to calculate, as you wouldn't need to count past the fingers on one hand to check.

2. You ordered during our holiday period. Unfortunately you did so right as it started (the day after, in fact). During checkout it made it quite clear that there would be a delay in fabrication because of it.

3. Once things returned to normal after our holiday period, if your order wasn't one of those that we got to during our downtime it would still have taken the regular amount of time to fabricate and be processed through customs.

Because the moderators are able to see through trolling.

Nope, he didn't.

We kept the year end holiday notice on our delivery and returns policy as an archived note. Here: "(Archived) Year End Holiday Notice: Please note that the fabrication team will be going on leave from December 20th to January 6th. However, not all of them will be away at the same time, so we will continue to process and fabricate orders, but at reduced capacity. Orders placed after the 11th of December may be affected by this, and could experience fabrication delays."

Also, you may (pun intended) want to use an online date calculator instead of attempting mental arithmetic, as you'd discover you're a month off, and that your shipment left the country just under 10 weeks ago (which is still well within the extremely slow surface mail shipping timelines).


Without flogging a dead horse...our delivery and returns policy is quite clear about the preprocessing, fabrication, and customs timelines for surface mail parcels. You are reminded to read that policy at multiple points during checkout, and you have to tick a box to indicate you have read and agreed to it before being able to make payment.

I see you've made a typo - you meant "it's been 4.5 months since I ordered in the middle of the holiday period knowing full well my order would incur fabrication delays because it said so on the checkout page". Common mistake, the keys are right next to each other;)

So sorry - yesterday was another public holiday (Worker's Day), but I'll make sure someone responds to your ticket today:)