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Author Topic: [ApplianceStore] - Seeking Partners - New Information - Daily Payments - BONUS  (Read 12346 times)
ABitInterested
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May 17, 2014, 12:33:53 AM
 #1


UPDATES

We have added some new bonus and discount information.

As of June 11, 2014 we will be using a floating rate to keep the USD cost per unit equivalent to where it was when this was first posted.

Currently .002785 BTC Per Unit - This is before any discounts discussed below.



[ApplianceStore] - We are seeking business partners for an existing, profitable appliance business.

20 Page Business Plan - http://www.dropbox.com/s/p5yui819hcm439j/Business-Plan-Final.pdf

Daily Reports - http://bitcointalk.org/index.php?topic=615885.0

We have posted some images showing a shop overview prior to reorganization on page two of this thread.





Summary

We are seeking capital contributing, voting partners and are offering for sale up to 30% interest in this business represented by 300,000 "units" worth .0001% ownership interest each. These "units" are offered at .004 BTC each see below.

New Per Unit Price

Do to the increase in BTC over the last few weeks and because this is a USD business we have decided to use a floating per unit rate effective June 11, 2014. When this was first posted the full cost of each unit was $1.80 so we will use that as the benchmark. We will post a new rate periodically to reflect current USD/BTC exchange rates.

As of June 11, 2014 each unit would be .002785. Any discounts offered would be calculated based on that number until a new rate is posted.

Partners Paid Daily And Monthly

We offer our business partners both daily and monthly distributions as follows.

Monthly Profit Distribution

Each month's profit will be distributed to partners based on their ownership interest and within 10 days of the month ending.

Daily Payments

10% of the daily gross of this business, in the form of a management fee, will be paid to partners based on their ownership interest.

See the reports thread to find past daily dividend amounts.

Incentives For Partners

  • Fast Tracked BEP (Break Even Point) - 100% of the daily management fee (10% of daily gross income) will be distributed to our partners until they have reached break even. In addition, the full 30% of monthly net represented by these 300,000 units will be distributed to partners starting immediately. As a bonus, an additional 10% of monthly net will be distributed to partners as outlined below. This unique profit distribution plan will greatly increase the speed at which our partners can reach break even on their contributions.

  • Discounted Units - In order to facilitate faster growth the first 100,000 units are offered at a discount and partners contributing .5 or more BTC will receive additional discounts as outlined below.

Daily Distribution Bonus - 100% of this management fee will be distributed to partners, excluding us, regardless of how many units have been sold. This will allow partners to reach break even more quickly, by increasing their exposure by 233% or more.

Example: If you purchased 200 units and no more were sold then you would receive 10% of daily gross until your initial contribution was fully recovered. If a second person purchased 100 units then the next distribution would be 10% of the daily gross with 66.66% going to you and 33.33% going to person 2.

Monthly Distribution Bonuses

  • Bonus 1 - The full monthly distribution for all 300,000 units will be sent to partners that were active that month. This means that partners will receive a larger share of monthly profits than their ownership interest would normally allow until all 300,000 units have been claimed.

  • Bonus 2 - As a bonus an additional 10% of monthly net will be shared with partners in the following manner. An extra 10% of the monthly net will be divided between the first 10,000 units until break even is reached. At that point the extra 10% would be divided between the next 40,000 units until break even was reached. The extra 10% would then be divided among the next 50,000 units until they broke even as well.

Discount Details - There are two types of discounts as follows.

  • Early Bird Discount - The first 50,000 units are offered at a 25% discount and the following 50,000 units are offered at a 12.5% discount.

  • Contribution Based Discounts - Further discounts are offered to partners contributing at least .5 BTC and increase based on the total contribution amount. Please contact me via PM or at southernappliance@crowdendeavors.com to discuss discounts for larger contributions.

Additional Information

  • There is no minimum contribution. The term "unit" is used to represent a specific owership interest in an easily understandable way.

  • We are seeking actual, voting rights partners.

  • Operations manager(s) are taking no salary until all units have reached break even and are providing "sweat equity" until that time.

  • We welcome potential trade for equity deals. If you provide skills or services that may be beneficial please contact us to discuss a possible trade for ownership interest.

  • As the value of this business rises so will cost per unit.

  • After approximately one year of growth we plan to offer additional units to partners at an approximately 250% increase over the rate offered here.

In Closing

We've already made amazing strides in the reorganization and streamlining of this business and look forward to working hard on continuing that progress. Our mission is to offer partners an amazing value, quick returns and to operate in a fair and transparent manner. Active participation is encouraged and appreciated.

Participate Now

To become a partner in this business please email southernappliance@crowdendeavors.com or send me a PM through the forum.

You can also reach me on Skype (text) under the name southern.appliance. Questions or comments are welcome.

Full Business Plan & Overview Located Here.
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May 17, 2014, 07:59:34 PM
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First stage separation, second stage ignition.  .
ABitInterested
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May 17, 2014, 08:27:20 PM
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So 30% of the company are valued 1200BTC which means 540000 USD.

I have actually been looking forward to someone bringing this up and I would like to answer in two parts.

1) While true that an established business is being purchased as phase one of operations this is not an established business. It would be a startup with capital and a full business plan that both expands on and adds to the current revenue of that business. As you know this makes valuations a lot more difficult and open for interpretation by each individual. That said, given the circumstances and plan $540,000 for 30% wouldn't be too far out of line depending on how you calculated.

2) More importantly, it is true that I mentioned exactly 30% which appears to make the standard calculations quite simple. However, you are overlooking a very important point that is not typical in these offers. On the daily dividend that is paid to partners I am waiving all of my interest until everyone that provided a capital investment has recovered what they put in. For instance, if only one person contributes $500 in capital and $1000 is sold the next day he would get back $100 or 20% of his total initial capital investment in 24 hours. Obviously the goal is to raise enough capital to increase profits as quickly as possible but I have laid out a plan that will allow growth even if only a fraction of the ownership interest is claimed or for some reason none at all. As you can see this would make any valuation more complicated because 100% of those distributions would be going to all other partners, even if their ownership was less than 1%. Even being pedantic about the term "valuation" does not change the fact that some would prefer to get their initial contribution back more quickly than to own a percentage of something you find valued exactly right but pays a small dividend over a long period of time. As said, complicated.


You write that the $10000 income from ebay in april was because you hired someone to list half of the inventory. For me that sounds like its something that wont work each month since in that month most probably the wanted things were sold fast. So it would be more interesting to know the income and more important the profit that is reachable per month.

I may need to adjust the wording but you misunderstood this part. My eBay account, like most, has a limitation on how much can be listed at any given time. The current limitation is $125,000 or 2,500 items. The $10,000 was sold with around half of that threshold being reached, I want to say it was 1,200 parts with total retail of $58,000. With eBay some parts provide linear revenue growth where others are slower selling and adding more of them doesn't immediately pad the bottom line. Half of the parts available were not listed, just half of the amount allowed on eBay at the time. There are always other options on marketplaces as well and I think a near immediate increase to $20,000 per month in revenue is a reachable goal.

You didnt give numbers for the other income streams.

I did not but I am currently finishing up the multi page, very boring (or exciting if you're into that) report that will have more details on that and everything else. I just had to get this summary submitted while I had time to sit down and do it, the full report will be much more helpful.


Lets assume you make $20000 profit. I dont know what income is needed for that after you paid all workers, contractors and all. 30% of the profit are split for the shares. Thats $6000. With that amount of profit that goes to the shareholders it would need 90 months or 7.5 years to break even.

The profit per month is not that high but that number is very reachable in the near future (under 1 year) with a little work. Your calculations are correct if you are not considering the other part of the offer, it would be a 13.33% return per year using the numbers provided.  The part you missed is the important one though, 10% of the gross revenue every single day will be shared with partners. If at any time any other current partners have not recovered their initial contribution then I will take $0 of the distribution owed to me and give it to those partners. This will greatly impact your math on the time required to break even.

Obviously if all 30% of interest were accounted for in one fell swoop things wouldn't move quite as fast but I don't expect that to happen immediately.

For fun though, in your hypothetical above, $20,000 monthly profit, let's also assume $50,000 in revenue. That is an additional $5,000 that would be distributed per month and only to partners that are not me for a total of $11,000 instead of $6000.

While in this scenario it would take 4 years and 1 month to break even (a 24.4% return, pretty decent I think) I do not expect for all 30% of interest to be accounted for that quickly. The way this offer is written those interested will set the value at any given time in that the more people who contribute / become partners the lower their share of the daily dividend would be. However, as some people hit break even they would quit receiving the bonus dividend out of my share which would then be distributed to others. This means that anyone looking to contribute will have to evaluate things at that specific time given the fluidity.

So i think you need to provide numbers and a plan that justifies that shareprice...

I agree with you, and I am close to posting a more comprehensive overview of the entire business as is and the plans for the future both immediate and long term. I do hope my responses above helped some and I hope you don't mind the long winded replies. I find this quite interesting and fun but also hard to put into words where it is easily understandable given the complexities.

Thanks for the questions.
ABitInterested
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May 17, 2014, 08:35:29 PM
 #4

You better check yourself before you wreck yourself.

In the USA you can't have an LLC and offer shares from an IPO, if you do you are going to get hammered.

Set it up as a Sub S Corp giving K1s.

As you will notice I am looking for partners in this business, as in full voting rights partners.

That said, you can very well offer interest in an LLC just as you can offer shares in a corporation. If you were referring to IPO's in general then what you are talking about is true regardless of business status.

http://www.law7555.com/books/articles/WhenAreLLCInterestsaSecurity.pdf

The reasons that LLC's are frowned upon are typically state laws and investor sentiments. If an LLC is chosen Delaware would be the state of choice but I am at the moment seeking partners in the business, not shareholders, that have the ability to be actively involved in the management.  That part is not finalized yet though, after talking to interested parties to discuss the pros and cons of all options then I am going to sit down with the people that push the pens and get this done. Obviously we are looking to choose the path of least resistance for partners from all over the world.

Thanks
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May 17, 2014, 11:05:26 PM
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Another point im wondering about is the basis of your business. You claim you get broken things, repair it and sell it again. Do you get this for free? Even when... in my country such businesses exist too, but they are a very low wage job. More of a hobby as kindness for the people. Unemployed people that dont want to sit at home do this job. So what im wondering is how you could be able to turn this into something completely different and so profitable. Only with 4 persons create thousands of USD of sales. I dont really see how this is supposed to work.

I mean broken things still have a value which means mostly would have to be bought. Repairing is a time consuming job and a reasonable additional profit on top can only work with top hardware. But mostly broken things are old anyway. So getting another 100USD out of a broken pc would sound like a miracle, not to speak about repair parts and the worktime.

Washers, dryers, stoves, refrigerators, dishwashers, water heaters, etc. We pay $20 to $25 each, and they are worth between $80 and $1000 repaired. We sell every single one we fix. After parts are removed from the horribly broken ones the scrap metal alone is worth around $10.

We do get many for free.

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May 18, 2014, 05:17:58 PM
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You better check yourself before you wreck yourself.

In the USA you can't have an LLC and offer shares from an IPO, if you do you are going to get hammered.

Set it up as a Sub S Corp giving K1s.

As you will notice I am looking for partners in this business, as in full voting rights partners.

That said, you can very well offer interest in an LLC just as you can offer shares in a corporation. If you were referring to IPO's in general then what you are talking about is true regardless of business status.

http://www.law7555.com/books/articles/WhenAreLLCInterestsaSecurity.pdf

The reasons that LLC's are frowned upon are typically state laws and investor sentiments. If an LLC is chosen Delaware would be the state of choice but I am at the moment seeking partners in the business, not shareholders, that have the ability to be actively involved in the management.  That part is not finalized yet though, after talking to interested parties to discuss the pros and cons of all options then I am going to sit down with the people that push the pens and get this done. Obviously we are looking to choose the path of least resistance for partners from all over the world.

Thanks

How many shares would it take to be a full voting rights partner? I imagine the bar would be kind of high, wouldn't it?

If you feel like donating: 1NtgJf4znCsA5GJDCbqtowHL2143WyqLkC
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May 18, 2014, 05:51:01 PM
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again 3 question then this thread alone, promise.

you hold successful business. why you need investor in your porn site operation ?
as this real business, you have no problem reveal identity right ?
or will say no reason you have link to porn site ?

ABitInterested
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May 18, 2014, 05:52:23 PM
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again 1 question then this thread alone, promise.

you hold successful business. why you need investor in your porn site operation ?

Did you read the porn site thread? It was funded long ago, no additional partners are being accepted at this time and everyone has been paid for half a year.

It was a separate business, it is a separate business and it's chugging along just fine.
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May 18, 2014, 05:54:12 PM
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i change to 3 question sorry Smiley
you reply to fast!

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May 18, 2014, 05:55:06 PM
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i not reply or post anymore.
good luck!

ABitInterested
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May 18, 2014, 06:01:09 PM
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You better check yourself before you wreck yourself.

In the USA you can't have an LLC and offer shares from an IPO, if you do you are going to get hammered.

Set it up as a Sub S Corp giving K1s.

As you will notice I am looking for partners in this business, as in full voting rights partners.

That said, you can very well offer interest in an LLC just as you can offer shares in a corporation. If you were referring to IPO's in general then what you are talking about is true regardless of business status.

http://www.law7555.com/books/articles/WhenAreLLCInterestsaSecurity.pdf

The reasons that LLC's are frowned upon are typically state laws and investor sentiments. If an LLC is chosen Delaware would be the state of choice but I am at the moment seeking partners in the business, not shareholders, that have the ability to be actively involved in the management.  That part is not finalized yet though, after talking to interested parties to discuss the pros and cons of all options then I am going to sit down with the people that push the pens and get this done. Obviously we are looking to choose the path of least resistance for partners from all over the world.

Thanks

How many shares would it take to be a full voting rights partner? I imagine the bar would be kind of high, wouldn't it?

No. Voting rights are on a % basis so 1 unit wouldn't be equal to 10,000. I am going to explain voting in a bit though, I promise. I want people involved in voting. Smiley
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May 18, 2014, 10:41:22 PM
 #12

Sounds good. Do you have a BTC address up yet?

If you feel like donating: 1NtgJf4znCsA5GJDCbqtowHL2143WyqLkC
ABitInterested
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May 19, 2014, 04:40:52 AM
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Sounds good. Do you have a BTC address up yet?

I do, give me a few minutes to post a link to the documentation and update the main post here.

Thanks!
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May 19, 2014, 05:18:34 AM
 #14

Archive or original post. Top post is being edited to add business plan, summarize available information, etc.

Quote
Seeking voting partners on this venture if at all possible.

RecycledMoney - Placing an established, profitable business in your hands.

A full overview of this project with detailed information on all aspects of this business will be posted soon. The following is a summary of that information.

Southern Appliance is being created to buy and grow an established and profitable appliance business in north Louisiana. We will be working aggressively to increase profits by optimizing current revenue streams, adding more products and services, establishing new locations, and developing a shopping website for a very profitable arm of the business.

I am the sole owner of the business being purchased. It is an established, successful used appliance store that has been in operation since 2008. I managed that business for several years, bought a 49% interest in 2011 and bought the business outright in early 2013. Over the years I have worked tirelessly to expand operations from a 1,300 square foot building in 2008 to a now 15,000 square foot multi building complex. The lease on the last 4,600 square foot building was finalized and signed today and I am now focused on continued growth.

Current Operations

This business currently benefits from three main sources of income as outlined.

1) - The main source of income since inception has been the purchase of non working household appliances which are repaired and sold. We currently sell between 25 and 80 major appliances per week. We have a contract with multiple chain stores and receive all trade-in appliances by the 18 wheeler full from each location.

2) - The secondary source of income for this business is used parts sales over the Internet. I currently use eBay for all parts sales but will be expanding operations to both Amazon and a custom storefront. Because of limitations on space, time and the dollar value of items I was allowed to list on eBay I was not able to fully focus on this aspect of the business until recently. Our eBay limit has been increased to $125,000 or 2,500 parts listed and grows monthly if fully utilized. Earlier this year I paid a contractor to list over 1,000 parts with a value of over $50,000 on eBay and that resulted in $10,242.85 in sales for April.

3) - The final source of income for this business is scrap metal. Any appliance that is not cost effective to repair is parted out with the unusable parts sold or kept for business use and the rest is for scrap. We currently sell approximately 15,000 pounds per week which at the current rates comes out to around $1,200 and have sold as much as 30,000 pounds in a single week.

We currently employ 5 full time workers and contract work from a few others as needed.

We now lease 15,000 square foot consisting of three buildings on the same property. Today I finalized the lease on the last building which added 4,600 square foot to that total.
 
Goals For Current Income Sources

I am now working to increase profits in every aspect of this business and to expand into new areas.

While appliance sales have always been our main source of income we have mostly focused on wholesale to other dealers and budget retail. With the new contract came a huge influx in appliances and it took time to adjust so we were short on manpower to repair, clean, paint and sell for full retail. We also lacked a good showroom which has now been remedied with the lease of the final building. We often sell appliances for 30% to 50% less than our competitors, most of whom are now out of business.

Similarly, used part sales are far from optimized. It has taken more than a year to increase the total dollar amount limitation on eBay to an acceptable level. The last step is getting eBay fully utilized then adding items to both Amazon and a custom web store. Over $10,000 was sold on eBay in April using only half of available listings but this can be increased to $20,000 to $30,000 per month almost immediately with enough manpower to clean, inventory, list and ship these items. By using Amazon and a custom store to list items that are less likely to sell this can be increased even further. Due to these same limitations we don't always remove every part to be sold. Because of the cap it makes no sense to list items that are cheaper or slower to sell when a more expensive or quicker to sell item can take it's place.

And finally, our scrap metal operations are not optimized. In an effort to save manpower and free up space we often sell full units minus their working parts for tin which pays less than other items. By removing all iron, motors, copper and other metals to be sold separately the income derived from scrap metal can be increased significantly.

Expansion & Future Growth

There are a multitude of ways to expand operations and add new revenue with this business. We can add locations, find more sources for appliances, add a delivery truck, add a service truck and technician to do service calls, sell new parts and new appliances, add rent to own financing and more. Many of these are easy to implement with enough capital to get them off the ground. I will be posting a very comprehensive overview of this business soon and full details on these and other options will be discussed there.

Transparency

Every aspect of this business will be fully transparent with updates and reports provided constantly. There will of course be a monthly report but we will be posting consistent updates several times a day to reflect all sales or other income, expenses and anything relevant to the general operation of this business in order to keep all owners well informed on business dealings. If legal I will install security cameras in the showroom so that owners can view transactions as they happen.

This Offer

I am currently selling up to 30% ownership in this new company in the form of actual percentage ownership and equivalent voting rights. Funds will be used for the purchase of the established business from myself and utilized to aggressively grow this business in all areas deemed worthy by the owners.

To keep things simple I am dividing this 30% interest into 300,000 units.

Each unit is .004 BTC (approximately $1.80 at current time) but will be adjusted accordingly if the BTC rate fluctuates more than 10% from it's current position.

Units are just a simplified way to measure ownership percentages per fraction of BTC so less than "one unit" can be purchased but we will need to discuss some things beforehand.

To discuss becoming a partner please PM for fastest response or email webmaster@crowdendeavors.com.

Profit Sharing

Each partner will receive a percentage of all profit with payments being made daily (estimated) and monthly (balancing) in the following manner.

Daily Management Fee

A daily management fee of 10% of the gross income will be shared between all partners based on percent of ownership.

In Addition, I am waiving all management fees owed to me until the point that all other partners have fully recovered their initial capital contribution. For instance, if 10% of the business is sold I will have ownership of 90% of the business and be due 90% of the management fee. Instead, that money will be distributed as profit to all other partners that have not fully recovered their initial capital based on the % of ownership held.

Monthly Distribution

Each month 100% of the total remaining profit will be distributed to all partners based on percentage of ownership.

Of Note

I will perform work as operations manager for no fee until all partners that provided capital contributions have recovered their outlay.

Most issues will be voted on with me abstaining from voting. I plan only to vote if needed to avoid disaster / protect your capital.

The full terms of the purchase agreement of this business by the new company will be discussed in the full overview.

In the distant future I may decide that seeking more capital contributing partners is a good idea but this would be handled by selling some of my percentage in the company and not by diluting your ownership percentages.

I have been in discussions with both a lawyer and CPA to figure out the best structure for this new business but nothing is final yet. Depending on setup there may be differing tax obligations. Feel free to contact for information.

Discounted / Traded Interest

If you are interested in providing capital contributions of .5 BTC or more please contact me to discuss the possibility of a lower rate per unit.

If you are interested in trading services that you feel would benefit this business please contact me to discuss a work for interest situation.

In Conclusion

Again, this is a very brief summary and a very thorough overview will be posted soon. I am fully aware that all pertinent information is not available in this summary and that will be addressed in the overview.

Please feel free to ask any questions. Trolls will be answered only if the response will be of benefit to others.

Please PM or email webmaster@crowdendeavors.com to discuss becoming a partner or anything else you'd like to keep private.

Thank you.

Edit: Changed ticker to [ApplianceStore]
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May 19, 2014, 03:07:49 PM
 #15

Updates not yet reflected in report.

1. Although this is primarily a USD based business when we talk about a partner "breaking even" we mean in Bitcoin. If your contribution is .5 BTC then you are not whole until you have received that full .5 BTC back, regardless of the value of BTC at the time.

2. Anyone sending capital contributions before 12:00 PM CST will receive management fees for that same day. For those sent after 12:00 PM management fees will start the following day. Management fees will not be calculated until 2AM CST so that any eBay sales can be accounted for. Daily revenue totals will usually be posted prior to that but would be updated to reflect additional sales.
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May 19, 2014, 06:10:41 PM
 #16

Just curious but is there a list of shareholders or shares being sold (overall tally/countdown kinda thing) and how would one exit their holdings at some point in the future should they so choose? Also, what are the tax implications for shareholders be they US citizens or otherwise?
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May 19, 2014, 06:18:04 PM
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It appears that your document has reached the bandwidth limit. Is there an alternative access location?

Use my referral codes for Bitcoin faucets and I'll send you 25% of my referral bonus - Win/Win! PM for details on all sites available or use one of the links here.

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May 19, 2014, 06:21:56 PM
 #18

Good news everyone!
ABitInterested just sold a washer/drier, a Kenmoar washer and a whole bunch of parts on eBay!  We feast tonight, gents!

SOLD

Whirlpool washer / dryer set - $275.

Kenmore washer - $100.

Miscellaneous item - $75.

eBay - $17 Paid and $36 unpaid.

Total Collected So Far - $467

Current Showroom Value - $2,500.
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May 19, 2014, 06:32:25 PM
 #19

Just curious but is there a list of shareholders or shares being sold (overall tally/countdown kinda thing) and how would one exit their holdings at some point in the future should they so choose? Also, what are the tax implications for shareholders be they US citizens or otherwise?

A running total of units remaining will be listed in the reports thread.

https://bitcointalk.org/index.php?topic=615885.0

As for the rest, contact me to discuss as there are a couple of ways to handle it. If you are asking if you are supposed to pay taxes on revenue the answer is always yes since you are supposed to pay tax on all income, dividends, etc.
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May 19, 2014, 06:33:50 PM
 #20

It appears that your document has reached the bandwidth limit. Is there an alternative access location?

I didn't know there was a bandwidth limit on Google, just used their viewer to point to a different document.

Anyhow, it can be downloaded from the following url until I find a good place to publish it.

https://www.dropbox.com/s/p5yui819hcm439j/Business-Plan-Final.pdf
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