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Author Topic: [GLBSE] Kronos Floating Bond, IPO on June 15th  (Read 4693 times)
Raoul Duke
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May 28, 2012, 03:29:00 PM
 #41

I'll be holding well over 10k bonds myself, fwiw. No, I'm not selling my risk. You're misunderstanding a simple fact I've stated at least four times in this thread, now. IOU (that is, INAU and myself) is liable to bondholders in the event of a problem with Kronos.

Sorry but to me that doesn't mean much. You are just 2 guys behind a screen name(yes, I know you are GLBSE verified) who most likely live across the Atlantic. If you decided not to pay you can be sure I won't cross the ocean to get my $1300 and even if I did pursue it, would it be worth it or would I have any ground to stand on? Wink
High risk, high reward. What you offer is high risk, very low reward(at least as I perceive it).
Thank you for answering my questions.

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ribuck
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May 28, 2012, 03:59:55 PM
 #42

When calculating the profits for distribution, are the one-off start-up costs (such as legal fees) counted against the first two-week profits, or are they spread out across the whole of the first year's operation?

It seems quite possible that Kronos will not turn a profit before buying back the bonds (due to start-up costs), even though Kronos may be wildly profitable after that.
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May 29, 2012, 12:47:58 PM
 #43

When calculating the profits for distribution, are the one-off start-up costs (such as legal fees) counted against the first two-week profits, or are they spread out across the whole of the first year's operation?

It seems quite possible that Kronos will not turn a profit before buying back the bonds (due to start-up costs), even though Kronos may be wildly profitable after that.
It's my understanding that we're talking only about Kronos net operating profits, which don't include those large one-off startup costs. I'll ask again to make absolutely sure.

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May 29, 2012, 02:36:50 PM
 #44

Kronos.BND IPO has been canceled by GLBSE. We are working to resolve this. Please give us some time to work this out.

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May 29, 2012, 05:19:22 PM
 #45

Hmm, as an investor, I can't say I'm a fan of this structure. It has equity-like risks, but without the upside potential gains that equity usually has.

I would be more interested in a fixed interest bond.

Agreed, but I'll keep an eye on it. I'd like to see the site developed more. Things like the FAQ still not being done leave me wondering at what stage they're in with their security.
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May 29, 2012, 05:53:09 PM
 #46

Kronos.BND IPO has been canceled by GLBSE. We are working to resolve this. Please give us some time to work this out.
We have decided to list on Hermes once it's ready (I'll make a full announcement on Hermes within a week). All reservations made are currently void. We'll begin fundraising again once Hermes is ready for it.

Relevant: https://bitcointalk.org/index.php?topic=77343.msg928697#msg928697

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May 30, 2012, 06:59:06 PM
 #47

Please see updates @ https://bitcointalk.org/index.php?topic=84363.0

I'll be writing up a proper thread both when I have more info and when I don't have a backlog of stuff to respond to. I'm sorry I can't immediately update everyone on everything. Please direct any questions you have to that thread.

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