FREQUENTLY ASKED QUESTIONS:
What kind of dividends could we expect?
We are currently paying a dividend of 0.001 BTC/share. That is a annual dividend yield of 58% based on our IPO price.
Why are you issuing 1000 BTC worth of shares (i.e. what is your plan with these funds)?
With 1000 BTC I would love to build mining rigs with multiple 5970s or FPGAs. Any additional funds could be used for investments, having a website created, or any other ideas that may come from shareholders.
The namecoin hash rate dropped drastically after a huge rise in difficulty, so blocks are going really slow. Has the difficulty adjusted back down yet, so blocks come at a normal rate?
You can check the difficulty for namecoin and bitcoin here: http://dot-bit.org/tools/nextDifficulty.php
The namecoin difficulty will be adjusted down by the time our rig is operational.
Have you considered selling your personal rigs to your business?
Yes, but my personal rigs aren't built with costs in mind and wouldn't make the best investment for my shareholders.
What will you do if exchange rate drops below a price that would cover our power cost?
My power is charged at 2 different rates. $0.16/kWh from 9am-9pm & $0.05/kWh from 9pm-9am. If the exchange rate continued to drop to where mining was no longer profitable at the average $0.11/kWh rate, I would likely begin running the miners only from 9pm-9am. If the exchange rate dropped to where it was no longer profitable to mine using $0.05/kWh electricity, I would propose a shareholder motion to see if the equipment should be sold off to refund investors.
What policy will you use to sell the namecoins?
This will be based on market conditions. Perhaps some ideas could be floated on this thread to give shareholders the opportunity to voice their opinion on this subject.
When will you start paying dividends?
Weekly dividend payments will begin on November 6th, 2011.
How will dividends be calculated?
Dividends will be split among the purchased shares. For example, if 10,000 shares have been issued, but only 1,000 purchased, those 1,000 purchased shares would split the entire dividend payment equally on a per share basis. The amount of the dividend will be at my discretion and based on the company's current financial situation.
How often will you pay dividends?
I'm planning to pay dividends weekly. This could change at any time, but would most likely never be longer than monthly.
I might be selling my 5970. Would it be possible to trade it for shares in the company?
Yes. PM me with any trade offers.
Could you make a spreadsheet, with company info contained on it?
I am working to implement an automated accounting display. I hope to have something better and more trustworthy than a spreadsheet in place on this thread by the time the miner goes live.
What OS do you use for mining?
I am planning to use Win7 with cgminer.
Do we see somewhere how many shares are on the market and how many are held by you?
There are 10,000 shares available. You can figure out the amount that have been purchased by doing some math each week when dividends are paid.
Can you issue new shares at any time, how does that work exactly?
New shares can only be issued following a shareholder vote.
The shares you have in your account, can you only offer them for the initial price of 0.1 or can you also just sell them on the market?
Shares can be sold at any price, at any time.
Do you have plans to buy back shares at some point?
I would definitely like to buy back shares at some point and will do so if I feel it is in our shareholder's best interests.
What are the future prospects for your company?
I will continue to aggressively pursue the expansion of profits for my investors. Keep your eye on this thread for updates and information on future expansion plans.
Do you keep 5,000 shares back for additional hardware?
Shares are held back for many reasons, including additional hardware purchases. This number could increase or decrease depending on opportunities that may arise.
Can you explain to me how all this works?
You buy shares of the company using the GLBSE. You then get to vote on company motions as well as receive profits from the company in the form of dividends. Dividends are credited to your account, and you can do whatever you'd like with them (withdraw, reinvest, spend, etc.). There are two ways you can profit from owning shares on the GLBSE. A) Dividends B) Buy low and sell high.
For more information on how public companies work, I'll refer you to wikipedia.http://en.wikipedia.org/wiki/Public_company
What do you plan on doing with the NMC? Sell it at some point or send it to shareholders?
NMC has been sold off in the past and more could be sold off if I feel it would benefit the company. There are currently no plans to pay dividends in NMC.