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January 16, 2013, 01:06:58 AM |
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Well initially I had it in my head that there was a hard limit on the amount of shares to be issued and it would get to the point that the 30% granted to G&M would be the only asset BAKEWELL had to grow. In that case it makes sense for them to be full shares controlled by a board so that options like taking a loan against the shares would exist, etc.
We have the ability to issue new shares to the market in order to raise capital tho, so in the next update to the description I will likely end up clarifying that the G&M shares are inert
- they will abstain from votes and in the event of a liquidation the shares will be considered non equitable and destroyed.
However that brings me to the need of working out a better system for offering new shares to the market.
Things I am thinking about are: Private sales worked well, I do not want to put up a huge ask and cap upward movement, how to determine price to offer at, how many to put up on offer at a time, when to go about balancing in, etc...
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