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

[NUFCrichard]

THIS WOULD BE A REWARD TO THE SHAREHOLDERS WHO TRUSTED THE COMPANY AND DANNY FROM THE VERY BEGINNING.

The IPVO started 7 weeks ago, you make it sound like we have been invested for years!

[snowdropfore]

The announcement is coming, so apologies for the short delay (We need a Bitcoin timezone).

My view on the mentioned scenario is that doing so would be great for existing shareholders, however not so great if the price falls and additional plans that we have started to implement (that are of benefit to the shareholders), would slow our rate of progress and if we then required more capital, would the existing shareholders provide that liquidity?

I will also not change the agreement, it doesn't set the right precedent if the contract can or would be changed at will to suit the market conditions.

how to do with our shares at BF??can we transfer to HL??

[cryptocyprus]

The announcement is coming, so apologies for the short delay (We need a Bitcoin timezone).

My view on the mentioned scenario is that doing so would be great for existing shareholders, however not so great if the price falls and additional plans that we have started to implement (that are of benefit to the shareholders), would slow our rate of progress and if we then required more capital, would the existing shareholders provide that liquidity?

I will also not change the agreement, it doesn't set the right precedent if the contract can or would be changed at will to suit the market conditions.

how to do with our shares at BF??can we transfer to HL??

That announcement is coming later today, along with a full list of functionality for the shareholders website and instructions etc.

[Skoutz]

THIS WOULD BE A REWARD TO THE SHAREHOLDERS WHO TRUSTED THE COMPANY AND DANNY FROM THE VERY BEGINNING.

The IPVO started 7 weeks ago, you make it sound like we have been invested for years!

 

[Skoutz]

The announcement is coming, so apologies for the short delay (We need a Bitcoin timezone).

My view on the mentioned scenario is that doing so would be great for existing shareholders, however not so great if the price falls and additional plans that we have started to implement (that are of benefit to the shareholders), would slow our rate of progress and if we then required more capital, would the existing shareholders provide that liquidity?

I will also not change the agreement, it doesn't set the right precedent if the contract can or would be changed at will to suit the market conditions.

FAIR ENOUGH.

[thehun]

The announcement is coming, so apologies for the short delay (We need a Bitcoin timezone).

My view on the mentioned scenario is that doing so would be great for existing shareholders, however not so great if the price falls and additional plans that we have started to implement (that are of benefit to the shareholders), would slow our rate of progress and if we then required more capital, would the existing shareholders provide that liquidity?

I will also not change the agreement, it doesn't set the right precedent if the contract can or would be changed at will to suit the market conditions.

Thanks, that's fair enough.

IIRC, the IPVO ends officially on the 30th of November. If, as has been the case for the last weeks, no new shares from the initial IPVO are sold, what will happen? The initial goal was to raise 14,097 BTC. At the beginning of September 1 BTC was worth about $120, so the goal was to raise $1.69 million. I remember you saying that the minimum goal of 9500 BTC had been met, which at a current market price (Bitstamp) of $284 means $2.7 million (unless of course you already converted a big chunk of it to fiat, which would be perfectly reasonable).

So going back to the original question: how are you going to make use of this surplus? keep BTC reserves/fiat reserves? additional expansion plans? I guess the option of turning to VC for more funding should be off the table now, right?

[ffssixtynine]

You have to remember that the Bitcoin price can go down as well as up. The prospectus has contingencies for this. By Nov 30th Bitcoin could be $120 again.

It makes no sense to change plans other than it will give Neobee more flexibility as they convert BTC->Fiat for immediate expenditure. If the Bitcoin prices is >$200+ and we get into December, then converting a chunk to fiat may give more benefits than were planned. At the same time, they need a BTC reserve.

We have no idea what mix of BTC/Fiat they plan to work with between now and February so it's hard to say how much this has helped.

[ThickAsThieves]

Investor Relations Website
Neo will be launching a website specifically catering to investors of NEOBEE. The website will be an official source for updates, managing your directly-held profit-shares, and purchasing IPVO profit-shares directly from Neo at the original price. Additional features and resources may be added over time.

Official release date and detailed instructions for migrations will be posted separately very soon.

Features & Transfer Options
1. Each current Bitfunder NEOBEE holder will be allowed, one (1) free migration to either HavelockInvestments.com or to the new directly managed system. Any subsequent transfers will be subject to a service fee of 0.5btc.

NOTE: Please consider this fee before moving to direct management, as you will incur the fee to transfer to Havelock or other exchanges in the future. This fee may be adjusted in the future.

2. Any profit-shares that have not been migrated off of Bitfunder before December 1, 2013, will be converted to direct profit-shares, which will be registered to their wallet address on file with Bitfunder.com. To claim these profit-shares after Bitfunder closes, holders will need to submit a request signed with the private key of the wallet the profit-shares are registered to.

3. After December 1, 2013, any transfers to or from directly-registered profit-shares and any supported 3rd-party exchange service will be required to pay the current service fee (0.5btc).

4. Profit-shares purchased directly from NEOBEE at the original share price of 0.003btc per share, with no added transaction fees. Each purchase of new profit-shares will be allowed one free transfer to any exchange NEOBEE is officially traded on. This free transfer will be limited to the quantity of profit-shares purchased directly.

5. The system will allow free internal direct-share transfers between users, but no escrow or bitcoin transfer services will be provided in the website at this time. While no holder is required to use escrow when making private trades, it is strongly recommended. TAT Investments will provide optional escrow services for 0.5btc or .33% of the deal value, whichever is greater. Simply email any escrow requests to tat.investments@gmail.com

[lewicki]

...will be required to pay the current service fee (0.5btc 1btc).

Puts a smile on my face.

[velacreations]

Will there be an API or public record where people can verify ownership and/or quantity of shares in the direct shares system?

[snowdropfore]

...will be required to pay the current service fee (0.5btc 1btc).

Puts a smile on my face.

fuck the fee。

[kingcrimson]

If bitcoin continues at this rate and goes to $500-$1000 before neobee opens, this could cause IPO dividend payback to take forever. Since they would need multitudes more fiat coming in to cover the 0035/share. Is there any danger to the business in this case?

[memvola]

Thanks TAT, things are moving in the right direction.

I would rather see a robust digital signature based trading mechanism with support for third party escrow signatures but that's just me. I guess conventional "user friendliness" is also valuable. Hopefully we will have decentralized platforms soon enough, and it's not NEOBEE's job to develop these standards anyway.

Regarding fees; I'm guessing the transfer to external exchanges constitute pass-throughs, so I imagine a monopoly is not possible. Someone is bound to come up with better rates and competition should do the rest.

Congrats to everyone involved and looking forward to see the website.

[thehun]

If bitcoin continues at this rate and goes to $500-$1000 before neobee opens, this could cause IPO dividend payback to take forever. Since they would need multitudes more fiat coming in to cover the 0035/share. Is there any danger to the business in this case?

I would be willing to sacrifice/lower this part because with current rates we're looking at several millions of $ in dividends, which is not the best plan for a startup.

[lolstate]

If bitcoin continues at this rate and goes to $500-$1000 before neobee opens, this could cause IPO dividend payback to take forever. Since they would need multitudes more fiat coming in to cover the 0035/share. Is there any danger to the business in this case?

I would be willing to sacrifice/lower this part because with current rates we're looking at several millions of $ in dividends, which is not the best plan for a startup.

I'm not keen on this idea. Ignoring for the moment this would entail retrospective changes to the IPO conditions we all used when deciding whether to invest or pass, this would result in a lower share price in addition to lower dividends you are proposing. True, if you look at everything through a fiat lens, that may not seem so bad, but I and many investors no longer think in fiat terms. We elected to buy shares in a Bitcoin company with BTC and expect to see our income and gains in BTC.

The recent dramatic appreciation of BTCUSD may cause plenty of headaches for Bitcoin startups, but also, if played wisely, opens up new and exciting opportunities. I trust Neo to grasp these and turn them to all our advantage... I see no reason why the 0.0035 cannot be met.

In short, when I invested in Neo, I doubled down on the Bitcoin economy and if it pays off, as I expect it will, I don't want to be rewarded in fiat.

[klee]

If bitcoin continues at this rate and goes to $500-$1000 before neobee opens, this could cause IPO dividend payback to take forever. Since they would need multitudes more fiat coming in to cover the 0035/share. Is there any danger to the business in this case?

I would be willing to sacrifice/lower this part because with current rates we're looking at several millions of $ in dividends, which is not the best plan for a startup.

I'm not keen on this idea. Ignoring for the moment this would entail retrospective changes to the IPO conditions we all used when deciding whether to invest or pass, this would result in a lower share price in addition to lower dividends you are proposing. True, if you look at everything through a fiat lens, that may not seem so bad, but I and many investors no longer think in fiat terms. We elected to buy shares in a Bitcoin company with BTC and expect to see our income and gains in BTC.

The recent dramatic appreciation of BTCUSD may cause plenty of headaches for Bitcoin startups, but also, if played wisely, opens up new and exciting opportunities. I trust Neo to grasp these and turn them to all our advantage... I see no reason why the 0.0035 cannot be met.

In short, when I invested in Neo, I doubled down on the Bitcoin economy and if it pays off, as I expect it will, I don't want to be rewarded in fiat.

Else we could just hold our precious coins - I would have more of them and not less. Also more fiat if I decided to exchange them...

Whole point was to increase BTC amount.

[StarenseN]

I'm finally out. Not only serving a TAT scam, this ipo/stock is doomed. GL to the other holders.

[cryptocyprus]

If bitcoin continues at this rate and goes to $500-$1000 before neobee opens, this could cause IPO dividend payback to take forever. Since they would need multitudes more fiat coming in to cover the 0035/share. Is there any danger to the business in this case?

No danger, just the possibility of it taking longer for me to start receiving dividends on my own holdings.

[snowdropfore]

Can I just keep the shares stay at BF,and do nothing , does it mean the shares wil turn into direct shares?

[cryptocyprus]

Can I just keep the shares stay at BF,and do nothing , does it mean the shares wil turn into direct shares?

To claim them once BF closes (without doing anything) you will need to sign a message using the public address that you used on BitFunder when registering, as per the announcement made by TAT.