[GLBSE] TEEK.PPT - CLOSED - BTCST / Pirate Pass-Through backed by TEEK

[teek]

UPDATE:  BTCST new rates in effect 08/20/2012 - TEEK.PPT dropping interest rate to 2.25%,  each bond now will receive .045 per week.


Hi all - TEEK Funds is launching  it's own pass-through to BTCST today, it will be live shortly.  If interested, please place your bids.  The face value of each bond is 2 BTC, it pays .08 BTC per week, and we have a contingency if a pirate default event were to occur.

https://glbse.com/asset/view/TEEK.PPT


TEEK.PPT
-----------------


TEEK.PPT is an interest bearing bond which directs funds to Bitcoin Savings and Trust known as "BTCST".

Each bond issued will have a face value of 2 BTC and will receive an interest payment or dividend of .08 BTC per week. Interest will be paid every Sunday. You must hold the bond at the exact time of dividend payment to be entitled to the dividend.

The issuer reserves the right to change the interest payment if BTCST changes interest rates.

In case of a BTCST default, TEEK.PPT will have a face value of 0 BTC, but each bond may be exchanged for 1 TEEK.A bond.

This loan or bond can be called at any time. If the loan is called, the issuer will place a bid of 2.05 BTC for every oustanding bond or issue a forced buyback at 2.05 BTC per bond. Interest for the weekly period will be paid out on a pro-rated basis.

** This asset does not represent ownership of any company or organization and has no voting rights. **

[teek]

reserved.

[teek]

reserved.

[Shadow383]

Now if only there was a way to short these 

[teek]

Now if only there was a way to short these  

Not sure if you are referring to TEEK.PPT specifically or all PPT's, but I am sure if you offered an interest premium there would be many willing to borrow shares..  so you could probably short if you really wanted too.

[teek]

BTW - There is no pre-sale, but some bids will be filled below 2 to some lucky first comers.  If you're interested in getting a deal, post your bids!

[teek]

bump!

[teek]

TEEK.PPT is paying out it's first interest payment tomorrow! 

[teek]

TEEK.PPT interest paid!

[teek]

bump for TEEK.PPT

[teek]

TEEK.PPT  interest payment of .08 per bond going out Sunday!

[teek]

TEEK.PPT paying .08 tomorrow!

[AngryCatfish]

Wow this thread and IPO seems to be dragging, no clue why. I would have thought for sure they would have sold like hotcakes at 1.8.

[teek]

Interest paid!

[teek]

Wow this thread and IPO seems to be dragging, no clue why. I would have thought for sure they would have sold like hotcakes at 1.8.

Yeah.. I never really advertised it..  It's a pretty good deal in my opinion, the market might be a little saturated with ppt's..   I'm not going to chase people down, if they want them they know where to find them.

teek

[teek]

BTCST rates have been changed and will take effect next week, we have therefore lowered our rate. 

teek

[ianspain]

Hi Teek, any comments on the latest events?

[teek]

Hi Teek, any comments on the latest events?

Yep - TEEK.PPT is closed, interest will go out as normal tmrw.  As far as buying back bonds, as long as pirate refunds in full, they will be bought back, but not until then.

thanks

teek

[ianspain]

Hi Teek, any comments on the latest events?

Yep - TEEK.PPT is closed, interest will go out as normal tmrw.  As far as buying back bonds, as long as pirate refunds in full, they will be bought back, but not until then.

thanks

teek

thanks

[teek]

Interest paid.