What do we want you to vote for?
Change current process of paying out complete revenue as dividend to paying out 70% of the net profit as dividends and retain 30% of the net profits to increase the NAV until NAV reaches the face value of 0.25.
Why are we requesting for this vote?
When VCX was listed, we assumed that the platform will only reach a break even in 3 years. Due to the unexpected large increase in trading activities in the past 6 weeks, we have been able to achieve the breakeven already in the first month. This very positive business development requires us to relook into the way the profits are being used.
What is the impact if the vote pases?
70% of the net profits will be paid out as dividends, 30% will be withheld to increase the NAV of the company. These funds will be held in BTC and LTC. Retaining 30% of the net profits will help to retain cash for future unplanned acquisitions, marketing activities, etc.
What is he impact if the vote fails?
The NAV of the shares will gradually drop to 0 BTC in 3 years time, as the operational costs are being paid for out of the companies capital (as per the listing contract).
Our recommendatio
Vote with "yes". This is in the interest of the shareholders, we are improving the value of the shares.
I don't understand what sense this makes. You made a deal with your investors whereby you promised a percent (100%) of future profits in exchange for capital, based on some market assumptions you yourself proposed. Coupla months down the road the market situation has moved muchly in favor of the investors, and so you wish to change the deal, so they only receive 70% of future profits, you keeping the rest.
If this measure passes either a. you had no investors to begin with, the entire thing being a sham (the more likely, in my judgement) or b. your investors are mentally retarded beyond the minimum required for functioning socially. There's of course also the possibility of c. you lying about it having passed, when it didn't, but I guess we'll be hearing about it if that's the case.
The offensive part is your misstatement of fact. The NAV would not reach zero, seeing how the shares still reflect ownership in your business (which you did not retain, as per the original contract, but gave away in exchange for hefty - and again self-originated - licensing fees and whatnot). The NAV would be whatever 100% of a suddenly lucrative - if poorly managed - exchange would indicate.
Even if you were a credible entity (which you are not, especially with such shenanigans going) and could be trusted to use the accumulations for worthy reasons rather than the acquisition of beer, retaining capital is just in and of itself a risky proposition in BTC. What happens if you're hacked? Distributions already made can't be hacked. Seeing how vircurex has been having issues staying online recently...heh.
