Allright, raising the IPO flag is probably good for Ryan G.
Let's sum up:
200.000 shares x 0.00075 = 150 btc
1.100 shares x 0.001 = 1.1 btc
That totals to 151.1 btc
Expenses (dividends) to shareholders:
57.034 btc.
151.1-57.034 = 94.066 btc left.
So now he drops the ipo flag, the price drops like a brick. After this drop, coinpal will announce some large security issue which can't be resolved. And don't worry, shareholders will be compensated! We will buy back the shares at current price! HOORAAAY
Current price will probably end up at something like 0.00004.
0.00004*201.100 = 8.044 btc.
So Ryan G. is a good guy who bought back his shares! although he walks away with 86 btc.
Not much, really. And he's probably done some programming or hired a guy to do the programming for him. That leaves him with very little money, if it ever was supposed to be a scam.
The site doesn't look bad at all. If it scales well and the back-end system is robust, it could become a better exchange even than Mintpal (which isn't really that good imho)
I hope he will take in some more of the new X11 and X13, and some exotic coins with potential. Otherwise, I'm afraid it's a few months too late to have any impact on the market. Please don't add Cage, that coin is dead and should have been buried long time ago!
The share might be a good buy at 0.000065
Lets leave the past behind and look forward!
Congratulations to Ryan! (& Ryan?!)
