discontinued

[smickles]

As it is no longer possible to provide this service adequately, I will be discontinuing and liquidating MOM.GLBSE.COMPOSITE.

All held assets will be sold for BTC and all BTC under the control of MOM.GLBSE.COMPOSITE will be distributed to the shareholders.

Ouch, that's going to hurt. Do you want BMF to buy you out? We'll give you a fair value for your assets instead of the market bid you are likely to recieve...

I have actually already liquidated and paid the shareholders via a dividend, total assets were about 10 BTC and market rated didn't hurt hardly at all.

[guruvan]

what happens with my outstanding shares?



especially the ones purchased today - kind of unstoked there's not any notice on glbse that you're liquidating.

[smickles]

what happens with my outstanding shares?



especially the ones purchased today - kind of unstoked there's not any notice on glbse that you're liquidating.

I requested that the asset be removed from GLBSE and apparently it has not yet been removed.

If you purchased your shares before the liquidation you should have received the appropriate portion of the total assets of MOM.GLBSE.COMPOSITE.

Since the liquidation has occurred, the shares of this asset have no backing.

[guruvan]

Sent smickles an email earlier today about the shares I purchased /after/ the final dividend was paid out. I am very pleased with the rapid response, and willingness to take care of the issue of purchasing shares that should have been unavailable for purchase (as trading should have been halted after the final dividend payment.

I hope that GLBSE can get this together a little better - these issues should be simpler to handle, so they don't impact the issuer.

It's a shame that you couldn't continue this offering, but I must say, I'm quite pleased with the overall results, and will be highly interested in any of your future offerings.

[stochastic]

What was the reason this was discontinued, just lack of time?

[smickles]

What was the reason this was discontinued, just lack of time?

Not really a lack of time at all. There were several unresolveable issues which would mean that the shareholders and myself would be at risk of loss by others taking advantage of these.

It may be possible to 'try again' once the GLBSE market matures. Until then, only restricted (as opposed to composite) ETFs will be safely possible.