[MOTION] ID#70 - Vote to Sell BTCWEB to Undisclosed third party

[cablepair]

after receiving many messages of concern from share holders I have decided to put a motion forth to allow share holders to vote on weather or not to sell BTCWEB to an undisclosed third party.

I was not able to convince this third party to pay share holders of GLBSE as they do not recognize it as any legally binding entity
However if it is approved to sell - I will work out a deal with share holders to buy back shares at the amount they were purchased for plus an amount of profit that will be determined at a later date.

If share holders vote to not sell BTCWEB I will honor that vote, we do have customers and I can pay dividends as promised in the asset contract.

Voting ends 12/16/2011 - at that time I will post the results and any further information in this thread.

Thank You.

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[Andrew Bitcoiner]

after receiving many messages of concern from share holders I have decided to put a motion forth to allow share holders to vote on weather or not to sell BTCWEB to an undisclosed third party.

I was not able to convince this third party to pay share holders of GLBSE as they do not recognize it as any legally binding entity

This is where the rubber meets the road.  You are responsible to your shareholders not personal gain.  Do the right thing and demand shareholder equity be recognized or its no deal.

[cablepair]

believe me , I would really like this to be the case, but it's a no go for sure, their stance on GLBSE is that is completely illegal and fraudulent, which I of course do not agree with but I cannot convince them otherwise.

This is why I have decided to give the shareholders a vote on this acquisition. I really want to be fair here.

[Littleshop]

I don't see why the buyer's view of GLBSE has anything to do with what happens?

Take the money from them, then use a portion to buy back shares. Can you give us some idea of how much they are offering? I think you still hold a bunch of shares, are you weighing your shares equal to the investor shares? (Did you really put in the money/time to claim all those shares)

Well even more to the point....

This really is not a bargaining point for shareholders....  They own and deserve whatever percentage of the money that comes in for that sale.  The holder of the company can keep some for expansion etc, but anything he personally takes according to his share of ownership, he must give to the other shareholders according to their share of ownership. 

If you take in lets say  $10,000 and own half of the shares...  then take as a personal payout $5000...  You need to distribute the remaining $5000 to the other shareholders.

[worldinacoin]

I don't see why the buyer's view of GLBSE has anything to do with what happens?

Take the money from them, then use a portion to buy back shares. Can you give us some idea of how much they are offering? I think you still hold a bunch of shares, are you weighing your shares equal to the investor shares? (Did you really put in the money/time to claim all those shares)

Well even more to the point....

This really is not a bargaining point for shareholders....  They own and deserve whatever percentage of the money that comes in for that sale.  The holder of the company can keep some for expansion etc, but anything he personally takes according to his share of ownership, he must give to the other shareholders according to their share of ownership. 

If you take in lets say  $10,000 and own half of the shares...  then take as a personal payout $5000...  You need to distribute the remaining $5000 to the other shareholders.

+1 exactly!  A very simple calculation

[btc_artist]

their stance on GLBSE is that is completely illegal and fraudulent,

What was their reasoning on this?

[cablepair]

Expect a major statement on this deal later today, for some reason GLBSE is not letting me see the results of the motion?

BTW: I did not vote even though I own a vast majority of the shares

As far as the legality of the GLBSE I am not an expert in this area, although this company believes it to be illegal in the USA and at the very least not at all legally binding.

In Any case I was on a unrelated business trip yesterday but was able to have a conference call with this perspective company and will release a full statement in regards to BTCWEB, and CC.

I have always and will continue to support the share holders and I want you all to know I will do my best to look out for the share holders best interest (after all I am the BIGGEST share holder)

stay tuned

[teek]

Expect a major statement on this deal later today, for some reason GLBSE is not letting me see the results of the motion?

BTW: I did not vote even though I own a vast majority of the shares

As far as the legality of the GLBSE I am not an expert in this area, although this company believes it to be illegal in the USA and at the very least not at all legally binding.

In Any case I was on a unrelated business trip yesterday but was able to have a conference call with this perspective company and will release a full statement in regards to BTCWEB, and CC.

I have always and will continue to support the share holders and I want you all to know I will do my best to look out for the share holders best interest (after all I am the BIGGEST share holder)

stay tuned

Cablepair my friend, what's up with this statement?  Been a couple days?

teek

[cablepair]

I know, I am so sorry I am waiting on a financial report from Bit-Pay.com - as part of my statement, their website only allows me to go back 30 days so I had to put a request in - in writing, I will go remind them right now, as soon as I get this information you can expect a public statement

[cablepair]

https://bitcointalk.org/index.php?topic=55221