Re: [LTC-GLOBAL] - ART - building a open art studio [week 32]

[EskimoBob]

Few days ago I listed The ART in LTC-Global. (waiting for approval) Got the final positive vote and we are open for trading - December 15, 2012
https://www.litecoinglobal.com/security/ART

Executive Summary
After about 6+ months of research and following the trends on the local ceramics art seen, we have come to the conclusion that the local artist (hobby and freelance) community is in serious need for a flexible access to shop equipment.
Especially the more expensive equipment that is way out of reach for most hobby and freelance artist.
Our research has shown, that this service is more than welcome and our proposed price range is considered very attractive.

Business Description
Our plan is to raise the funds, purchase the required equipment and make it available to anyone who needs it on hourly, daily or a space/volume based pricing plans. Some equipment, like smaller electric pottery wheels etc. can be moved to different locations on demand, under daily/weekly rent contracts. Stationary equipments, like large high fire kilns are stationary and are rented out under "volume" based pricing (artist pays for volume of kiln space used).
Our business is to help artist to produce their unique works of art and not compete with them as an artist to artist.

Products and Services
At current prices on the market and huge time delays, we see a lot of opportunities to be a very successful. There is strong growth potential. We are planning to carefully grow by constantly analysing the market needs while responding to it's needs accordingly.

For example, some of the stoneware firing styles are almost disappeared form the scene. Not because they are inferior, but because the lack of equipment (old equipment is broken down and never replaced).

We are planning to bring some of techniques back by adding the required equipment to our workshop and making it available to a larger community. This will help to keep it profitable and same time open new doors for the local art community.


Financial Management
Our conservative estimates show that in average, 5% ROI per month is achievable.
This is at conservative 55% utilisation on average. We like to take the utilisation up to 75% in 3 months or less. At this rate, equipment is paid for before 70% of the manufacturers warranty is up.

We will be publishing our monthly statements in forum and follow typical bookkeeping rules.

EDIT: (20.01 11.21 GMT) All numbers are and will be published here http://tinyurl.com/art-stats . If I find a better way to do it, you will be informed.

Stockholder Agreement

The total issue will be up 250 000 virtual shares @ 1 LTC per share.

* Proceeds from the issue will be used to acquire ceramics art studio equipment, materials, parts and cover regular maintenance if required, and cover other similar equipment related expenses
* Equipment will be insured against theft or destruction by fire or similar incident.
* Any profit (after the expenses) will be shared among the holders of virtual ART shares
* Profits realized in fiat currencies are converted to LTC and divided by number of outstanding virtual shares
* If the purchased equipment is sold, proceeds (after any expenses) will be divided up between the virtual share holders.
* Virtual shares can (but do not have to) be bought back by the issuer.
* We will do our best to keep the project profitable but we can not give any guarantees.
* This is a start-up project, please be aware that there are risks involved.  
* If the project fails, ART virtual share issuer nor project manager (persons or legal entity(s) can not be held liable.
* Issuer can not be held liable for any of your actions or decisions like selling, trading, destroying or anything else you plan or can imagine doing with your virtual shares.
* All sales of ART virtual shares are considered final.
* All unsold virtual stock is considered as a "treasury stock", that has no rights for voting nor dividends.
* Dividends are paid monthly.

[EskimoBob]

01.07.2013 - June and 6 months

03.06.2013 - May statement

04.05.2013 - April statement https://bitcointalk.org/index.php?topic=130947.msg2027265#msg2027265

02.03.2013 - February statement:  https://bitcointalk.org/index.php?topic=130947.msg1576297#msg1576297

27.01.2013 - proposal for secondary offer  -  all sold out as of 30.01

18.01.2013 - First equipment order

[hamdi]

intersting initiative

[Ukyo]

Voted. +1 Sounds great!
Looks like that put you over.
Good Luck.

[EskimoBob]

Voted. +1 Sounds great!
Looks like that put you over.
Good Luck.

Exclellent. Placed first block of 50K shares out for sale.

If you are looking for large blocks, please let me know. I do not mind giving a discount but only if you promise not to sell shares for X months in open market.
Lets talk details and figure something out.

[EskimoBob]

Hi,
We are going to add a flat rate dividend, and pay it out weekly.
I can not make changes to contract in litecoinglobal, so this announcement will have to do. 
Details will follow.

[MPOE-PR]

If the project fails, ART virtual share issuer nor project manager (persons or legal entity(s) can not be held liable.

Just for my curiosity, how could the "investor" ascertain whether this project has failed, outside of the share issuer/project manager (dubiously either natural or legal in their nature) saying so?

In other words, leaving aside that you don't seem to know whether you're a natural or legal person, what's to stop you from simply saying "sorry, it has failed" a la Obsi in a few months and just hightail?

[usagi]

Few days ago I listed The ART in LTC-Global. (waiting for approval) Got the final positive vote and we are open for trading - December 15, 2012
https://www.litecoinglobal.com/security/ART

Executive Summary
After about 6+ months of research and following the trends on the local ceramics art seen, we have come to the conclusion that the local artist (hobby and freelance) community is in serious need for a flexible access to shop equipment.
Especially the more expensive equipment that is way out of reach for most hobby and freelance artist.
Our research has shown, that this service is more than welcome and our proposed price range is considered very attractive.

Business Description
Our plan is to raise the funds, purchase the required equipment and make it available to anyone who needs it on hourly, daily or a space/volume based pricing plans. Some equipment, like smaller electric pottery wheels etc. can be moved to different locations on demand, under daily/weekly rent contracts. Stationary equipments, like large high fire kilns are stationary and are rented out under "volume" based pricing (artist pays for volume of kiln space used).
Our business is to help artist to produce their unique works of art and not compete with them as an artist to artist.

Products and Services
At current prices on the market and huge time delays, we see a lot of opportunities to be a very successful. There is strong growth potential. We are planning to carefully grow by constantly analysing the market needs while responding to it's needs accordingly.

For example, some of the stoneware firing styles are almost disappeared form the scene. Not because they are inferior, but because the lack of equipment (old equipment is broken down and never replaced).

We are planning to bring some of techniques back by adding the required equipment to our workshop and making it available to a larger community. This will help to keep it profitable and same time open new doors for the local art community.


Financial Management
Our conservative estimates show that in average, 5% ROI per month is achievable.
This is at conservative 55% utilisation on average. We like to take the utilisation up to 75% in 3 months or less. At this rate, equipment is paid for before 70% of the manufacturers warranty is up.

We will be publishing our monthly statements in forum and follow typical bookkeeping rules.


Stockholder Agreement

The total issue will be up 250 000 virtual shares @ 1 LTC per share.

* Proceeds from the issue will be used to acquire ceramics art studio equipment, materials, parts and cover regular maintenance if required, and cover other similar equipment related expenses
* Equipment will be insured against theft or destruction by fire or similar incident.
* Any profit (after the expenses) will be shared among the holders of virtual ART shares
* Profits realized in fiat currencies are converted to LTC and divided by number of outstanding virtual shares
* If the purchased equipment is sold, proceeds (after any expenses) will be divided up between the virtual share holders.
* Virtual shares can (but do not have to) be bought back by the issuer.
* We will do our best to keep the project profitable but we can not give any guarantees.
* This is a start-up project, please be aware that there are risks involved.  
* If the project fails, ART virtual share issuer nor project manager (persons or legal entity(s) can not be held liable.
* Issuer can not be held liable for any of your actions or decisions like selling, trading, destroying or anything else you plan or can imagine doing with your virtual shares.
* All sales of ART virtual shares are considered final.
* All unsold virtual stock is considered as a "treasury stock", that has no rights for voting nor dividends.
* Dividends are paid monthly.

Quoting OP for historical preservation in case EskimoBob tries to delete his posts.

This is probably a scam. It was outlined here: https://bitcointalk.org/index.php?topic=102010.msg1116762#msg1116762

EskimoBob started this thread because he could not answer the many outstanding scam accusations against him in the old thread.

Please note that there is also an outstanding scam accusation against EskimoBob for fraudulently claiming shares of my companies, despite knowing full well he does not have a claim to them as he did not yet return his double payment, and is now more than three weeks late on that explanation in the scam accusation forum. See:

I'll try to find out, why my 9 shares are not on that list.

Yet one month later, the scammer EskimoBob has abandoned that thread against him too, hoping people would forget he tried to scam me.

[DannyM]

behave.

[EskimoBob]

Usagi, get a dictionary and look up words like "libel" and "slander". This is what you are doing, Oliver. 
I think you have more important thing to do than whine here. You managed to piss away about 7-8000? BTC of investors money - go clean up that mess for start. And I have not forgotten how you deleted over 1000 forum posts   Good bye!

And now, the important message of the day is:

DO NOT FEED THE TROLLS

Honestly, just ignore him!
Thank you.

[MPOE-PR]

Usagi, get a dictionary and look up words like "libel" and "slander". This is what you are doing, Oliver. 
I think you have more important thing to do than whine here. You managed to piss away about 7-8000? BTC of investors money - go clean up that mess for start. And I have not forgotten how you deleted over 1000 forum posts   Good bye!

And now, the important message of the day is:

DO NOT FEED THE TROLLS

Honestly, just ignore him!
Thank you.

I've noticed you've conveniently eschewed the hard questions in order to dedicate a dozen lines to the meaningless drivel of usagi. Well done, but still,

If the project fails, ART virtual share issuer nor project manager (persons or legal entity(s) can not be held liable.

Just for my curiosity, how could the "investor" ascertain whether this project has failed, outside of the share issuer/project manager (dubiously either natural or legal in their nature) saying so?

In other words, leaving aside that you don't seem to know whether you're a natural or legal person, what's to stop you from simply saying "sorry, it has failed" a la Obsi in a few months and just hightail?

 just you.

[EskimoBob]

....
I've noticed you've conveniently eschewed the hard questions in order to dedicate a dozen lines to the meaningless drivel of usagi. Well done, but still,

If the project fails, ART virtual share issuer nor project manager (persons or legal entity(s) can not be held liable.

Just for my curiosity, how could the "investor" ascertain whether this project has failed, outside of the share issuer/project manager (dubiously either natural or legal in their nature) saying so?

In other words, leaving aside that you don't seem to know whether you're a natural or legal person, what's to stop you from simply saying "sorry, it has failed" a la Obsi in a few months and just hightail?

 just you.

Oh, I am sorry dear, I did not notice your post at all. Sorry, that you feelings got hurt and I didn't hear your angry squealing at the first time. Blame the ignore list, you so desperately cling on to.

Your question is actually not hard at all. I am going to leave out the crap, you always wrap your "questions" in to, so here we go.  

"could the "investor" ascertain whether this project has failed"

Sure they can. Regular income statements will show, what is going on.
At at current stage, only point of failure is the IPO itself. If we do not raise any meaningful sum of coin, there is no point to continue. I have to look for other means to finance this project. Coin will be returned and I will move on, no matter what and complete the workshop and get on with this business. I am sure, that this is not the outcome and you all can be part of something truly different and wonderful. So, lets make it happen!  
This is a completely unique project for LTC/BTC community to participate in. It has nothing to do with mining, computers, networks etc. This is a perfect project to actually show, that LTC (or BTC) has serious real life use in areas, that have nothing to do with "digital/virtual/pc/cpu/gpu..." related goods and services. When the equipment is ordered, we are going to open up a shop and LTC/BTC will be advertised and payment methods. As you see, the target group is something completely different. And this is really good news for any coin involved.

you don't seem to know whether you're a natural or legal person, what's to stop you from simply saying "sorry, it has failed"

Speak for yourself, angry old women.   Thankfully, your limited understanding of how Co's operate in the real world is not contagious. At least I hope not! Same applies to that pompous attitude of yours. I really have to work hard here, not to tell you to just "fuck off troll-girl, next question please" and move on.

Answer to your question is actually here: https://bitcointalk.org/index.php?topic=129844.msg1393420#msg1393420
You have to understand that this is not a project where coin is channeled to some real life scam, promising huge returns.
This is a long term project that needs the support of the community. I have other plans too and piss that all away, over few thousand EUR, is beyond retarded.

One more thing. MPOE-PR, I ask you nicely to move on and find another thread for you to troll. You have nothing of value to contribute to this conversation, you are never going to invest in to this project and your arrogant whining has lost all it entertainment value long time ago. Go and try to evolve and learn how to behave. BTW, lets not forget that your get paid for trolling the forums here. (you call it PR... LOL!)

Good riddance fluffygrrl.

[EskimoBob]

Hi,
Here is the proposed dividend, that will be effective immediately. ART can pay 0,002301 LTC per share, per week.
First dividend payment will go out on 22.december, day following the winter solstice.

PS! I am not a big fan of paying dividends when there is no profit to be shared.
Same time, I have to thank you all for letting the coin sit in the account, while waiting for the most important event - purchase of the workshop equipment.

Thank you.

[Deprived]

Hi,
Here is the proposed dividend, that will be effective immediately. ART can pay 0,002301 LTC per share, per week.
First dividend payment will go out on 22.december, day following the winter solstice.

PS! I am not a big fan of paying dividends when there is no profit to be shared.
Same time, I have to thank you all for letting the coin sit in the account, while waiting for the most important event - purchase of the workshop equipment.

Thank you.

Is this dividend being paid out of company funds or from your own pocket?

If from company funds then don't you need to pass a motion to change the contract?  That's why shares have voting rights - moment you start selling shares you lose the right to change things yourself without shareholder approval.

If from your own pocket then obviously it's a generous gesture - and needs no contract change.

[EskimoBob]

Hi,
Here is the proposed dividend, that will be effective immediately. ART can pay 0,002301 LTC per share, per week.
First dividend payment will go out on 22.december, day following the winter solstice.

PS! I am not a big fan of paying dividends when there is no profit to be shared.
Same time, I have to thank you all for letting the coin sit in the account, while waiting for the most important event - purchase of the workshop equipment.

Thank you.

Is this dividend being paid out of company funds or from your own pocket?

If from company funds then don't you need to pass a motion to change the contract?  That's why shares have voting rights - moment you start selling shares you lose the right to change things yourself without shareholder approval.

If from your own pocket then obviously it's a generous gesture - and needs no contract change.

I have to pay those form my own pocket for now. Obviously I can not nor do I plan to do this forever.
This is why getting the coin together and ordering the equipment is really important. But hey, this is only the first week.

[EskimoBob]

The one huge trade picked up 42915 shares so we only have 6026 shares left from the fist patch of 50K shares.

Time to start ordering the equipment.

YESS! We are moving on!

[Deprived]

Yeah - someone definitely likes your project.  Congrats.

[MPOE-PR]

Is this dividend being paid out of company funds or from your own pocket?

This question rests on some presumptions that are squarely outside the intellectual purvey of your average BTC entrepreneur (which EskimoBob isn't by a long shot). As far as most everyone is concerned, company funds = own pocket.

What I find most entertaining about this is that given six months you will not be able to substantially distinguish him from usagi.

[EskimoBob]

crickets chirping...

[EskimoBob]

EDIT:February 11
Looks like some of the garbage got removed from this thread. Thank you.
Please disregard the following:

I guess even the crickets had to shut up, all embarrassed, when The Augustocroppo was done with his posting

This rubbish, you two have compiled, in all seriousness probably, is almost priceless. I was laughing so hard, that I had tears in my eyes.
Good job, you two. My wife never really cares for this crap here but we both laughed until it started to hurt.

Yours truly, Tundmatu Sõdur

PS! Maybe you 3 trolls can put your ugly heads together and start a comedy club? I am not sure I'll laugh with you, but sure as hell, I'll be laughing at you. If comedy is not your passion, let Mircea Popescu's PR clown prance like a retard and you two bozos can sing on the background... or something like that.

Job well done lads. LOL