Edit: Horserider deleted his post for an unknown reason, so that is why this response seems random.
it must be a mistake of myself.
"The 5% of shares being held for expansion are included in the 10% that I am holding."
I'm surprised that you make such kind of generous arrangement. I strongly recommend Garr and other IPO mining company define their operation and arrangement in such format. I think this will define most of the mining operation in a very clear way.
Garr, would you please fullfill this format?
Before the IPO, "The company" has 500 shares which is solely owned by the CEO.
Before the IPO, "the company" has such
asset,
1.the whole rigs like ...
2.the right to use but not own the rigs like...
3.the right to rent the rigs ________ at price of ____ like...
4.the right to pass the electricity bills to the CEO in the future operation, which means that the CEO,but not "The company", is the one that will be responsible for paying the electricity bills for "The company".
5._____ BTC
and such
debt or obligations:
nothing (there may be obligations to pay the 20BTC to GLBSE)
"The company" is offering to the public on GLBSE with
4500 shares of this company.The initial price per share will be
0.5BTC.
The IPO will provide the "The company"
2250 BTC of capital, which at the current exchange rate of
$4.85/BTC will buy the company
_____ x6500s for a total minimum hashrate of
____gh/s.
After the IPO, "the company" has
5000 shares,
1. 500 owned by the CEO
2. 4500 owned by the public shareholders.
After the IPO, "the company" has such
asset:
1.the whole rigs like ...
2.the right to use but not own the rigs like...
3.the right to rent the rigs____ at price of ____ like...
4.the right to pass the electricity bills to the CEO in the future operation, which means that the CEO,but not "The company", is the one that will be responsible for paying the electricity bills for "The company".
5.2250 BTC, which will be used to
a)purchase the
_____ x6500s for a total minimum hashrate of
____gh/s. The rest of the bitcoin which is not spended will be retained for the future expantion.
b)rigs as
____ c)
____6.that the CEO promised to contribute some of the divident he get to the company solely for the expansion, which will be the less one of the following two items:
a) half of the dividend the CEO get from the 10% of shares of the company.
b) the dividend the CEO get from the 10% of shares of the company minus the electricity bills.
and such
debt or obligations:
1._____
2._____
"the company" will retain 0% of the net income(BTC mined after any cost) for the future expansion and 100% for dividend. the dividend will be distributed weekly.
"The company" will publish these data weekly while in operation:
the mining statistics
the bitcoin mined
the bitcoin used for paying any fees or cost(it's better if the fees or cost is specified)
the net income
the bitcoin paid out as dividend
the money( bitcoin, USD or both) retained for expantion
