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Author Topic: Pandora's Bitcoin Junction (Shareholders wanted)  (Read 9626 times)
PBJ
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July 31, 2011, 09:45:14 PM
 #21

To whom ever is low balling the price on shares.

I am not saying this to be mean.

I can not go that low per share. Unless the shareholders wish to watch this company fail before it starts.

We need the capital to be able to grow. As we want to be in more than just one field.

If you make a reasonable offer. The price may change.

Thank you

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Ben Walsh (beamer)
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July 31, 2011, 09:57:37 PM
 #22

Do you mean the bid (1 @ 420000) or ask (100 @ 10900000) ?

ben@ben-laptop2:~/bitcoin_stuff/bmc/black-market-client$ ./bmc.py depth PBJ
Enter passphrase:
 
bids --:-- [[1, 420000]]
asks --:-- [[100, 10900000], [46, 11000000]]


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PBJ
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July 31, 2011, 10:04:34 PM
 #23

I am referring to

bids --:-- [[1, .00420000]]

As this will make a low mark if I were sell the single unit that low.

I do understand it is one unit at this price. But if I were to sell one this low. Everyone else would expect them this low.

Thank you

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July 31, 2011, 11:01:18 PM
 #24

Right now I must be firm with the share prices. As I am trying to build enough money for a few different areas on the market.

It would be optimal to be able to build 3 rigs, 3 VPN servers, Hosting service, marketplace and more, set up from the beginning.

For this we need capital.

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July 31, 2011, 11:19:25 PM
 #25

Ignore it then mate.

Could be owner of a competitive GLBSE company / competitive miner trying to put you off continuing, someone who made a mistake converting from BTC to the values used in GLBSE ...

Personally, I think the price of 0.11 BTC / share is reasonable enough at $1.5 / £0.90 a.t.m.

Grow slowly and organically from utilising the income share sales at that price brings, report strong results and pay good dividends (all of which grows trust) and the remainder of the issued shares will sell in time.

How long were you expecting it would take to sell the 22050 shares at 0.11 BTC - 0.12 BTC ?

How much BTC are you aiming to raise from selling the 22050 shares ?

I may be in the market for VPS soon. What spec at what price per month are you thinking of offering ?

I am referring to

bids --:-- [[1, .00420000]]

As this will make a low mark if I were sell the single unit that low.

I do understand it is one unit at this price. But if I were to sell one this low. Everyone else would expect them this low.

Thank you

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PBJ
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July 31, 2011, 11:30:48 PM
 #26

Yes I understand. I just wanted to make sure people also knew It could not go that low.

As for how fast I was expecting them to sell. I have no real guess on how fast. They are selling faster than I thought.

Also for the about of a goal from the final outcome of the sale of shares is not set in stone. As the value of the business goes up so will the price of the shares.

Right now I am in the middle of talking with a datacenter in Hong Kong and the Netherlands. As I am trying to negotiate prices. The language barriers are a pain in the but.

As you know the price of dedicated servers is not cheap. This is one of the reason I am looking to sell more shares quick. So I can get this started.

Thank you

alfred
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August 01, 2011, 01:10:46 AM
 #27

The price on shares will vary in value. As any stock exchange.

This is a very disappointing response. If you are serious about floating your company then you must understand that right now, you have issued 45,000 shares, and sold 724 of them, meaning you own 44,776 shares. You could offer these for sale whenever you like for 0.0001 btc or 1 btc. No one knows unless you say. You are in complete control of the price, not the market.

So I ask again, how many of these shares are you going to sell and for what price? If you can't answer this simple question, you obviously don't know what you're doing when it comes to offering a business or investment opportunity.
[/quote]

Currently I am using the stock to convert to USD. This way I can open an account with my distributor. Also allows me to purchase the services needed and hardware needed to get the operation off the ground.

I hate to nit-pick, but you cannot 'use stock to convert to USD'. You received btc in proceeds from the sale of some of your stock. I assume you mean you bought USD with the proceeds in order to invest in the business. Good, but please say so.

100% will be returned to the shareholders. You can read the contract if you wish.  This was all covered in it.

Yes but who are the shareholders? You have issued 45,000 shares and sold 724 so far. Assuming the sale of 724 shares netted 79btc which you have invested in the business. If you somehow manage to make 100 btc, say, who gets this 100 btc? Is it split evenly between 45,000 shares or by the 724 you have sold?

This is an incredibly important distinction.

Right now I am trying to get a base value of the company. This way I will be able to figure out which directions to go first.

You will not be able to get a base value of your company by randomly offering shares for random prices and being unable or unwilling to say what you are going to do with the rest. You need to have a plan. Articulate it. Execute it.

As right now it will be building rigs and VPN service. More will be coming in the next few days. The more shares sold the more the company can do.
So lay this out then. A plan could be to offer 45,000 shares at 0.11 btc. As these are sold, the proceeds are invested immediately. Interim proceeds are paid out to external investors evenly until the IPO is filled.

Or maybe you ladder the offer, first 500 are 0.11, second 1000 are .12. Next 2,000 are 0.13 etc. etc.

Whatever, it is imperative you have a plan otherwise your shares are worth nothing.
 
Currently I will be holding on to 51% of the shares. This may be only for a while. Until the company has its feet off the ground. I would eventually like to have it run completely by the shareholders. This may not be the best idea. Time will tell.

Hmmm. You have issued 45,000 shares. Do they fully limit the company? Or does that represent the 49% of the company you are not going to be selling? Because you have not offered for sale either 49% of those, or 100% of those, it is impossible to know where this 51% figure comes from.
 


http://www.xidcapital.com
alfred
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August 01, 2011, 01:27:37 AM
 #28

I note you are now selling shares at 0.107, completely undercutting your own IPO.

Why would anyone buy any of your shares knowing you might be selling them cheaper in just a few days time? Especially considering you have so many of them? Do you know what you are doing?

http://www.xidcapital.com
PBJ
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August 01, 2011, 02:00:14 AM
 #29

Hello Alfred.

I am sorry I took so long to reply. It is getting late here and I have been on the phone for the past 4.5 hours with data-centers and the distributor. Not too much fun there.

To answer your questions.

Yes I realize I have been screwing the company over. This has been an issue since I have been trying to figure out an average value of Bitcoins to USD. As the initial investments with these companies must be in USD.

I am going to finish crunching numbers and put a new asking price up once it is complete.(about 10-15 minutes)

As for the nit-picking. You are quite right. I wrote that while on the phone. I am sorry to you and everyone else for not wording it correctly.
You are quite right. I used the proceeds to convert to USD. This way I can start the contract procedure with the distributors and other companies.

For the question of "Yes but who are the shareholders? You have issued 45,000 shares and sold 724 so far. Assuming the sale of 724 shares netted 79btc which you have invested in the business. If you somehow manage to make 100 btc, say, who gets this 100 btc? Is it split evenly between 45,000 shares or by the 724 you have sold?"

It will be split evenly among all shares. The shares that are not sold and have earned a dividend will be reinvested into the company. My 51%(22950 shares) will also be reinvested into the company.

The last few points you make are quite clear. This is why I am crunching the final numbers now. I am not sure exactly why I was changing the prices. I guess it may have been all the distractions. With the phone and talking on the forums/PM's, faxes and so forth. I am sorry to all investors current and future.

Yes I understand. The 45000 shares will be the total. My shares will be 22950 out of them.

Once I am done with the final crunch I will post the final price per share. Thank you. As I doubt I will do a ladder.

Thank you for the information. It was noted and is being fixed as I type this.

Sorry again to everyone!

PBJ
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August 01, 2011, 02:06:49 AM
 #30

I have come to a final price for the shares.

The final price will be 0.109btc.

Thank you

alfred
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August 01, 2011, 03:07:48 AM
 #31

Thank you, your post has given me some confidence.

As a potential shareholder, I would ask for a commitment that you don't lower the price below 0.109 for the unsold shares. Either that, or you commit to a smaller IPO sale (say 5,000 shares) at 0.109 and keep the rest in reserve. IMO, you should try to sell enough so that you can operate the business with an initial cash injection, and only issue more when you have a business case to increase the value of the company, for example to buy more equipment. By then, you should be able to demonstrate the ability to derive profit and so be able to issue the shares at a higher price preserving initial shareholder value. Even then, you should put it to a shareholder vote.

I don't want to sound to lecture-y, but this is what I expect as a shareholder. Good luck with your IPO and with your business.

http://www.xidcapital.com
PBJ
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August 01, 2011, 03:16:42 AM
 #32

Currently it is firm at 0.109btc.

If shareholders decide to put a motion in to increase the value. Then we shall take a vote.

As for now it is firm.

gbeirn
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August 01, 2011, 09:43:55 PM
 #33

I am in for 10 shares. I am curious to see how this will turn out.

NXT VPS Server Donations can be sent here: 6044921191674841550
At the end of each month I will donate some of them back to the community.
This is separate from my main wallet so you can keep track of them. I will keep them in there and only use them for hosting.
PBJ
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August 02, 2011, 02:59:29 AM
 #34

Thank you for the investment.  Smiley

PBJ
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August 03, 2011, 03:45:53 AM
 #35

Just a small update. I got a slightly better price on the parts. Might get an even lower one in the next day or so.

PBJ
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August 04, 2011, 11:24:58 PM
 #36

Update: Paxum has decided to be too slow. So I am transferring the money over to another bank account for the business.

PBJ
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August 07, 2011, 02:03:44 PM
 #37

Update: As soon as the funds are cleared the first 2 rigs will be built. The vpn will be being worked on. I am looking for a proper web dev to set the site up.

If anyone has a portfolio I could look at and wants a job. Let me know. I will see what I can do.

Thank you.

PBJ
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August 08, 2011, 04:38:06 PM
 #38

I am still looking for a web developer.

Send me a portfolio if you wish to take the position. It will be a paid position!

guci22
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August 08, 2011, 10:03:36 PM
 #39

This would be great if you did it a year ago but bitcoin mining will not be profitable for much longer
PBJ
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August 11, 2011, 05:58:12 PM
 #40

This is not the only field. This is the beginning. It also allows me to build a credit/trust line with distributors. In turn allowing us to have the cheapest prices around.

As I will be selling hardware at a cheap price. Along with many other items and services.

Mining is not the only thing we do!

Mainly right now I need a web developer. Then we can get the site up and running. So people can see the different things we will offer.

Thank you

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