BaLBOND
Exchangeable Bond Offering
Overview
BaLBOND is a “perpetual” fixed-yield bond (0.025% Daily, 0.175% Week 9.125% APY) issued by BaL Investments with special redemption privileges, callability and putability terms.
This asset is being offered for the following purposes:
1. To increase BaL Investments' ability to provide new public offerings
2. To provide Pre-IPO Placement access to upcoming public offerings issued by BaL Investments
These offerings may include stocks, bonds, futures and other investment opportunities.
3. To improve BaL investments' financial agility
4. Start an Online Business
Dividends (Week Coupon)
This bond pays a fixed-rate daily coupon, or interest rate, of 0.025% (0.175% Week, 9.125% APY). Each coupon will be scheduled to payout week, unless the host exchange has technical issues, in which case the payments will occur at the earliest time possible.
Face Value
Each bond has a face value of 0.001 bitcoins.
Initial Public Offering (Date to be announced)
The initial public offering will be sold in 4 tranches of 150 000 units each, at a price of 0.001 bitcoins per unit. (600 000 units, totaling 600 btc).
If a tranche remains unsold after 1 week, the remaining unsold tranches may be removed and placed for sale on another exchange. Additional bonds may be issued in the future if proper backing is in place.
Backing
BaL Investments will always reserve a portion of its bitcoin-denominated holdings with a market value that is greater than 100% of the face value of our issued debt in bonds
Any equities assigned as backing to these bonds will be otherwise unencumbered from any liabilities to other securities provided by BaL Investments.
Backing equity will be held in publicly verifiable accounts, and a quarterly transparency report will be provided to detail all backing assets. BaL Investments may use bitcoins or any publicly traded bitcoin security assets as backing.
Bond Redemption (Putability)
These bonds may be redeemed in two ways:
1. Pre-IPO Redemption: These bonds may exchanged at the full face value, 0.001 bitcoins each, toward the purchase of newly announced public offerings provided by BaL Investments. BaLBOND holders will have first access to units of any eligible IPO we provide, before open market trading begins, on a first come, first served basis.
Pre-IPO Redemption Rules:
- To instigate a redemption exchange for Pre-IPO purchases, simply transfer your bonds to BaL Investments' account on the host exchange, and send a corresponding e-mail to
investmentsbal@gmail.com confirming your desired Pre-IPO purchase details.
- Pre-IPO exchanges will be fulfilled in the order that the full transfer is received.
- Pre-IPO purchases must be paid in full by redeeming BaLBOND units.
- If an IPO is sold out through bond redemptions, any unfulfilled redemption requests will be sent back to the original bondholder.
- Once a redemption request is received it is binding.
- Pre-IPO shares will provided within 3 days after the IPO.
2. Direct Redemption: Bonds may be redeemed at any time at 90-105% of face value. Please allow 1-5 days for redemptions worth less than 10 bitcoins; 1-20 days for redemptions worth 10-50 bitcoins; 1-30 days for redemptions worth 50-100 bitcoins. Turnaround time for larger direct redemptions will be quoted on a case-by-case basis. Any bondholder may sell their BaLBOND units on the host exchange. Bondholders may instigate a maximum of one redemption request per week.
Bond Recall (Callability)
Bonds cannot be recalled during Pre-IPO sales periods. These bonds may be recalled by the issuer at any other time at 100-110% of face value.
The issuer has the right to recall any outstanding bonds at will. If BaL Investments recalls only a portion all outstanding bonds, we will do so as proportionally among all bondholders, rounded down to the nearest whole unit.
Voting Rights
There are no voting rights associated with these bonds.
Reserved Rights
Issuer reserves the following rights:
1. To issue additional bonds publicly or privately (the quantity of total outstanding bonds will always be made public)
2. To buy or sell bonds publicly or privately (the quantity of total outstanding bonds will always be made public)
3. To make changes to this contract that represent the best of interests of bondholders
4. To correct and clarify any gross errors or details herein that prove to be open to misinterpreBaLion
5. To temporarily or permanently assign additional rights or privileges to bondholders.
6. To permanently increase the daily interest rate of all outstanding bonds
7. To limit frequent, abusive redemption requests
8. To specify minimum or maximum redemption terms and eligibility for Pre-IPO redemptions
Dissolution
In the event that the issuer chooses to, or is forced to, close this asset for any reason, a new operator may be vetted and chosen by BaL Investments to take over control of the asset, or all bonds will be bought back by the issuer at 100-110% of face value. Daily coupons remain due every day until such time as BaL Investments is able to make such a final payment.
Issuer Info
BaL Investments is a leading bitcoin investment company with a mission to provide highly desirable offerings to bitcoin investors in new ways, and to set higher standards for bitcoin investments.
BaL Investments has provided identity information to the host exchange privately as a gesture of good faith, as well as emergency contact information.
A “dead man’s switch” will be implemented in order to pass control of this asset to a safe secondary operator in the case of the issuer’s untimely demise or hospitalization.
Disclaimer & Risks
Bitcoin’s legal definition as a currency, commodity, investment, or financial instrument may be subject to unique regulations in some jurisdictions. The issuance of bitcoin-denominated securities may be considered high-risk in the current environment. Please perform due diligence in all of your investment decisions, and consider all risks before purchase. While all investments involve risk, bitcoin securities may be considered among the most risky. Some have products and services that are still in development or have yet to be tested in the market. Many trade on unregistered exchanges.
Another risk that pertains to bitcoin securities involves the low volumes of trades. Because most bitcoin securities trade in low volumes, any size of trade can have a large percentage impact on the market price of the security.
Losses caused by default/theft within the host exchange may affect the putability and/or the degree of backing representing this security.
