[IPVO] [Multiple Exchanges] Neo & Bee - LMB Holdings

[237]

On BTCT there already is a "TAT.NEOBEE" marked as PT.

Will there be a different stock for the IPO on BTCT or is the "TAT.NEOBEE" the one
where the IPO-shares appear as sell wall?

I'm a little confused, because it is a PT and since the shares will be transferable between the
exchanges a PT seems rather redundant.

-237-

[Skoutz]

Very informative interview of the NEOBEE guys on Ed and Ethan

[kmtan]

big project, watching

[bigdude]

hi

i might be a dumb for asking.

i want to know, does this business work with any thing interest related?

for example, like dividends coming from interest income, etc

Any answer to this please?

[ThickAsThieves]

On BTCT there already is a "TAT.NEOBEE" marked as PT.

Will there be a different stock for the IPO on BTCT or is the "TAT.NEOBEE" the one
where the IPO-shares appear as sell wall?

I'm a little confused, because it is a PT and since the shares will be transferable between the
exchanges a PT seems rather redundant.

-237-

The securities will all function the same for shareholders, paying the same dividends essentially, but the BitFunder one acts as the underlying asset. This had to be done in this case, for reasons behind the scenes, but won't really affect shareholders of any of the 3 versions in any notable way.

I might consider asking Burnside to remove the "TAT." from that version, since it will not appear on the Havelock, nor the Bitfunder versions. We'll see.

Nonetheless, both the BTCT and Havelock issues will indeed technically be passthrough depositary receipts.

[cryptocyprus]

hi

i might be a dumb for asking.

i want to know, does this business work with any thing interest related?

for example, like dividends coming from interest income, etc

Any answer to this please?

Sorry I missed your question, Only once we add lending to our offerings will interest payments form part of our income.

[xchrisxsays]

Since Havelock has Ok'd an offering on their exchange as well, this means you will be offering services to transfer shares from BF to Havelock, correct?

Also,
 

There is no minimum quantity for transfers, but any transfer order must pay a 1.0 Bitcoin service fee.

That seems like an awfully steep price for a pretty simple service.

[N_S]

There is no minimum quantity for transfers, but any transfer order must pay a 1.0 Bitcoin service fee.

That seems like an awfully steep price for a pretty simple service.

I thought the same thing. What's the reason for this?

[canth]

There is no minimum quantity for transfers, but any transfer order must pay a 1.0 Bitcoin service fee.

That seems like an awfully steep price for a pretty simple service.

I thought the same thing. What's the reason for this?

I imagine that it's to discourage extra work for the administrator and to discourage arbitrage speculation. Not many security issuers allow for these types of transfers as it has zero benefit for them or for the exchange operators.

[ThickAsThieves]

Since Havelock has Ok'd an offering on their exchange as well, this means you will be offering services to transfer shares from BF to Havelock, correct?

Also,
 

There is no minimum quantity for transfers, but any transfer order must pay a 1.0 Bitcoin service fee.

That seems like an awfully steep price for a pretty simple service.

Yes, transfers will be allowed between any of the 3 securities.

The price for transfers is indeed meant to act as friction. Essentially, we are not in the business of facilitating arbitrage in any high frequency. I'd have to assume that any significant arbitrage opportunity worth both parties' time would yield at least a couple bitcoins in value anyway.

Also, the xfer service is meant to provide migration for any who prefer to hold their shares in a specific place, rather than wherever they may have purchased them.

It's supposed to look expensive to those who might verge on abusing it, and reasonable to those who are happy the service exists.

[N_S]

I think this may have previously been answered, but I'm interested to hear if Neo&Bee plan to expand into the rest of Europe?

[237]

I think this may have previously been answered, but I'm interested to hear if Neo&Bee plan to expand into the rest of Europe?

The answer is in the inital post on page 1.

Initial service offerings will target local Cypriot individuals and business customers.  As these ventures grow, service offerings will expand to all European Union territories.

[cryptocyprus]

I think this may have previously been answered, but I'm interested to hear if Neo&Bee plan to expand into the rest of Europe?

Yes we do, our natural path currently would indicate towards Greece as many Greek Cypriots have friends and family in Greece so we can migrate some of the trust that we establish here from start-up in Cyprus onto the next market. Greece also has their own well documented financial problems.

We are also allowing those from within the EU to sign-up online and open an account with ourselves from May 2014 (This may change if we surpass all of our initial targets in relation to the rate at which people are signing up for accounts locally). We are not offering this at launch to ensure that we do not create an administrative backlog on account openings for our local customers.

[N_S]

Yes we do, our natural path currently would indicate towards Greece as many Greek Cypriots have friends and family in Greece so we can migrate some of the trust that we establish here from start-up in Cyprus onto the next market. Greece also has their own well documented financial problems.

We are also allowing those from within the EU to sign-up online and open an account with ourselves from May 2014 (This may change if we surpass all of our initial targets in relation to the rate at which people are signing up for accounts locally). We are not offering this at launch to ensure that we do not create an administrative backlog on account openings for our local customers.

Thanks for the response. A little further down the line - any plans for expansion outside Europe?

[cryptocyprus]

Yes we do, our natural path currently would indicate towards Greece as many Greek Cypriots have friends and family in Greece so we can migrate some of the trust that we establish here from start-up in Cyprus onto the next market. Greece also has their own well documented financial problems.

We are also allowing those from within the EU to sign-up online and open an account with ourselves from May 2014 (This may change if we surpass all of our initial targets in relation to the rate at which people are signing up for accounts locally). We are not offering this at launch to ensure that we do not create an administrative backlog on account openings for our local customers.

Thanks for the response. A little further down the line - any plans for expansion outside Europe?

Long term yes very much so, but Europe is a big place. As we have said if people want to follow in our footsteps then we will offer a guiding hand wherever possible, we want those adverts in the future "Bee accepted by 20 million merchants worldwide", however we are very much focused on walking before we start running.

[N_S]

however we are very much focused on walking before we start running.

Absolutely. I'm very satisfied with what I see here thus far.

[cryptocyprus]

however we are very much focused on walking before we start running.

Absolutely. I'm very satisfied with what I see here thus far.

Thank you and good to hear, we are working tirelessly here to make some things happen quicker, than we had previously planned to execute. We are looking forward to making these announcements when possible.

[Skoutz]

As the discussion progresses and more and more clarifications are given, this venture becomes more and more interesting.

One thing is for sure: you will get the traditional and corrupt cyprus banking system by surprise and hopefully shock its cornerstones.

That would be a well deserved lesson to the scoundrels who, overnight, have stolen people's deposits and lifetime savings in order to fund the billions of losses incurred by banking golden boys.

We are 1,000% behind you!

[cryptocyprus]

As the discussion progresses and more and more clarifications are given, this venture becomes more and more interesting.

One thing is for sure: you will get the traditional and corrupt cyprus banking system by surprise and hopefully shock its cornerstones.

That would be a well deserved lesson to the scoundrels who, overnight, have stolen people's deposits and lifetime savings in order to fund the billions of losses incurred by banking golden boys.

We are 1,000% behind you!

Thanks, there are more clarifications coming also.
We shall also be releasing an update to the prospectus to provide better clarification on the areas mentioned in this thread that wasn't clear enough in the original prospectus.

[N_S]

As the discussion progresses and more and more clarifications are given, this venture becomes more and more interesting.

One thing is for sure: you will get the traditional and corrupt cyprus banking system by surprise and hopefully shock its cornerstones.

That would be a well deserved lesson to the scoundrels who, overnight, have stolen people's deposits and lifetime savings in order to fund the billions of losses incurred by banking golden boys.

We are 1,000% behind you!

Thanks, there are more clarifications coming also.
We shall also be releasing an update to the prospectus to provide better clarification on the areas mentioned in this thread that wasn't clear enough in the original prospectus.

Danny, if you keep this level of attention and communication up, I think you'll do extremely well.

This whole space is filled with broken promises, lack of communication, terrible PR, and overall shadiness. As an investor, it pisses me off. This isn't a zero-sum game - everyone can get rich and yet we're held back by absolute idiots who have no idea how to type up an update on a previously promised date.

/rant

I'm pulling for you!