[BTC-TC] BitVPS

[Lohoris]

Is there a more or less fixed day of the month for the previous month's statement to be released?

[Namworld]

No. Should be released soon. Usually it should be out within the first 2 weeks of the month. No exact schedule tho.

[Lohoris]

No. Should be released soon. Usually it should be out within the first 2 weeks of the month. No exact schedule tho.

Thanks!

[Namworld]

Report is now available on BitVPS website.

[Lohoris]

oZoNo voted NO with comment: Shareholders own nothing except the right to a share of the profits. The issuer owns all the assets. This is effectively a loan that never has to be paid back. -- odolvlobo

While I still think BitVPS has great potential and is a very interesting security, I kind of agree with oZoNo's point: why doesn't this stock come with voting powers?
It should be natural to have something like the power to elect a board member, and/or being automatically granted a board seat if you have enough shares...

[EskimoBob]

Report is now available on BitVPS website.

Thank you for the report.
Can you publish your balance sheet too? Nothing fancy, just a summary of company's assets, liabilities and shareholders equity.

BTW, BitVPS link in your signature is not working.

[Namworld]

While I still think BitVPS has great potential and is a very interesting security, I kind of agree with oZoNo's point: why doesn't this stock come with voting powers?
It should be natural to have something like the power to elect a board member, and/or being automatically granted a board seat if you have enough shares...

Because it's not stock, it's profit rights. It's a continuation of what RG started.

Can you publish your balance sheet too? Nothing fancy, just a summary of company's assets, liabilities and shareholders equity.

The balance sheet is right at the bottom of reports as a balance or debt. Shareholders equity is 1/1'000'000th profit shares/unit. Not sure what more you want, I don't have anything more to put on there. The servers are not listed but they're all in expenses on one of the reports.

[EskimoBob]

While I still think BitVPS has great potential and is a very interesting security, I kind of agree with oZoNo's point: why doesn't this stock come with voting powers?
It should be natural to have something like the power to elect a board member, and/or being automatically granted a board seat if you have enough shares...

Because it's not stock, it's profit rights. It's a continuation of what RG started.

Can you publish your balance sheet too? Nothing fancy, just a summary of company's assets, liabilities and shareholders equity.

The balance sheet is right at the bottom of reports as a balance or debt. Shareholders equity is 1/1'000'000th profit shares/unit. Not sure what more you want, I don't have anything more to put on there. The servers are not listed but they're all in expenses on one of the reports.

What about BitVPS assets (current, non-current etc)?
Shareholders equity is the initial amount of BTC that got invested invested into BitVPS (all of it, including reinvested profit!).

[Namworld]

While I still think BitVPS has great potential and is a very interesting security, I kind of agree with oZoNo's point: why doesn't this stock come with voting powers?
It should be natural to have something like the power to elect a board member, and/or being automatically granted a board seat if you have enough shares...

Because it's not stock, it's profit rights. It's a continuation of what RG started.

Can you publish your balance sheet too? Nothing fancy, just a summary of company's assets, liabilities and shareholders equity.

The balance sheet is right at the bottom of reports as a balance or debt. Shareholders equity is 1/1'000'000th profit shares/unit. Not sure what more you want, I don't have anything more to put on there. The servers are not listed but they're all in expenses on one of the reports.

What about BitVPS assets (current, non-current etc)?
Shareholders equity is the initial amount of BTC that got invested invested into BitVPS (all of it, including reinvested profit!).

They were not funding shares, they were profit leases. RG could have spent the money however he liked. He had 100% of profits and decided to sell rights to profit. All 1'000'000 units are issued and active from the start. I have no idea what happened with whatever funds he raised either and it doesn't matter, he wasn't selling ownership in a funding round, he sold rights to profit, with 1'000'000 non-voting units with rights to 1/1'000'000th of profit each, all owned by him personally and active.

They're not common stock, there's no treasury stock, nothing. Just rights to 1/1'000'000th of profit. Otherwise profits would be split between outstanding shares instead of being given a fixed portion of profit.

The only assets are servers + current balances. It's all BitVPS possess currently.

[EskimoBob]

PM'ed you with a link to recommended reading

[Namworld]

PM'ed you with a link to recommended reading

The statements contain 100% of all BitVPS has, other than listing the owned equipment. There's absolutly zero of the stuff from that link that can be added. There's nothing more. We don't have assets other than servers, we don't have any liabilities, all expenses and BTC/USD conversions are list. What specific info do you want? Those statement not only provide the balances BitVPS has, it shows all the credits/debits from month to month.

I have absolutely zero extra data available to add, other than a list of equipment currently owned.

What exactly are you looking for?

[Peter Lambert]

Here is a question: How many more accounts could BitVPS add to fill up the currently owned servers?

[Namworld]

Here is a question: How many more accounts could BitVPS add to fill up the currently owned servers?

That's a rough question, considering there's multiple plans available and each user don't use the same portion of their limit. I honestly don't have a clue. Try asking arij in BitVPS's IRC channel, he can probably give a rough estimate.

[freeAgent]

I think it's pretty clear to anyone who read the BitVPS charter that the "shares" being purchased are essentially a variable annuity which pays out shares of BitVPS' profit.  It is somewhat confusing that the asset is labeled a stock, but I view that more as a limitation of the exchange rather than intentional deception.

BitVPS appears to have become solidly profitable now after the recent cost-cutting.  It looks like if June is as good as May was, the company should be debt-free.  However, forgive me if I'm wrong, but it appears that you have your income rows mixed up (reporting BTC income in the $ row and vice versa).

[EskimoBob]

Namworld, it makes no difference what you call them - shares, variable annuity, ding-dongs etc. Proper financial reports are still needed to understand, how you guys are doing.
Can you please produce the missing balance sheet with your profit/loss and cash flow statement.

[Namworld]

Proper financial reports are still needed to understand, how you guys are doing.

Those report sheets contains numbers for all we have, except the servers. There is no extra assets, no extra funds, no extra debts, no extra obligations. I know some businesses have a wide list of debts, obligations and assets, but at our size, we only have those servers which we colocate and the cash balances (or if negative, debt to us for expenses we had to cover ourselves.) Those reports are a 100% accurate portrait of where BitVPS currently stands. There is nothing else to show. Just month to month expenses/sales and occasional extra purchases like hardware. With added BTC/USD conversion and rates for extra transparency, as well as all purchases well detailed. This is already more than most around here do.

If I made any more complex reports to list the kind of things you pointed were missing, I'd be adding extra sections filled with zeros.

[Lohoris]

Those report sheets contains numbers for all we have, except the servers. There is no extra assets, no extra funds, no extra debts, no extra obligations.

I feel your pain, it must be exhausting to have people constantly asking over and over for something that isn't there... I'm sorry; keep on the great work nonetheless!

[Namworld]

Those report sheets contains numbers for all we have, except the servers. There is no extra assets, no extra funds, no extra debts, no extra obligations.

I feel your pain, it must be exhausting to have people constantly asking over and over for something that isn't there... I'm sorry; keep on the great work nonetheless!

True, but there's indeed many sections missing as he pointed out. Only they would be filled with zeroes in our case, except for assets holding as I said. I'll start keeping track of hardware held if we start having more servers or when servers start breaking.

Statement for June published. The debt backlog was cleared and we managed to go get a small dividend out this month. 4 BTC dividend, or 400 Satoshi per unit. Full dividend expected starting next month. (A portion of profits will be held aside on each month's profit for future large expenses. As usual, you will be able to see the current reserves at the end of each monthly statement. As before on MPEx, at least 1/3rd of profit will be paid out each month.)

[Lohoris]

Oops I "lost" my shares by selling them at 0.002. Having bought them at 0.0006 I didn't think they'd go that high after the first dividend.

Now I'm not sure I want to buy in again - too bad as I liked to have a non-mining company.
Congratulations on being profitable!

If you want you can buy back at 0.001882 now

[freedomno1]

Oops I "lost" my shares by selling them at 0.002. Having bought them at 0.0006 I didn't think they'd go that high after the first dividend.

Now I'm not sure I want to buy in again - too bad as I liked to have a non-mining company.
Congratulations on being profitable!

If you want you can buy back at 0.001882 now

0.001500 last I checked been a while are July Financials due now