Questions.
(i) Can you present the ownership details of the company?
(ii) Are you the owner of the company?
(iii) Will the dividends be based on gross or net earnings?
(iv) Will the earnings (as well as operational costs) be vetted by an independent auditor each payment cycle?
(v) Are you able to furnish annual (even quarterly) financial information for the last year or more, along with balance sheets, income statements and cash flows (all notarized)?
(vi) Will IPO holders have a say in operational matters (capex, hiring, wages, costs, etc.)?
(vii) Will you prepare legal documents that prevents you from disposing/selling the business after the IPO?
This is a very novel concept - one that I am prepared to participate.
However, the I think it is only fair that you lay your cards out on the table.
After all, it is not difficult to take photographs of some random studio.
1- The RhinoCoin Label & Studio will be owned by the community of RhinoCoin holders.
2- On august 1st 2014 all assets and ownership will be transferred to a Trust Company "The RhinoCoin Trust" the beneficiaries of which will be the holders of RhinoCoin and/or associated RhinoCoin addresses. Any additional details would have to be answered by our lawyer
3- As detailed in the outline the dividends will be the Gross earnings for a period of one year.
4- Yes that is completely possible and probably a good idea but will incur some additional business costs unless some creative solutions are presented. The RhinoCoin website and twitter feed @RhinoCoinXRC will keep the community up to date with current studio clients and projects.
5- The studio is in a 2,500 Sq.Ft space located completely renovated and sound proofed, with multiple recording spaces, isolation booths and mixing spaces tailored for a wide range of applications. The equipment list is extensive and state of the art, the studio has been in operation for ten years and has varied client list. I cannot disclose financial history but I can say that the business and assets are owned outright and does not have any outstanding debts or loans and all assets, rights and ownership will be transferred to The RhinoCoin Trust
6- As detailed in the outline yes, RhinoCoin holders will have say in the business operation, the signing of artists, label/studio management and promotions and any other aspects that the community feels important. We felt to simplify matters all operational costs will be covered for a period of 1 year. This will permit the community to grow and prosper without any financial obligations or concerns
7- As I have mentioned the RhinoCoin Trust will be created and all associated documentation will be available to the community.
As you mentioned this is a novel concept :-) and we embrace all new suggestions and feedback. We have been in the music business our entire lives and have also come to appreciate the amazing possibilities with crypto currencies and decentralized organizations.
