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Author Topic: [GLBSE] Paladon Green Mining [PGM] (including ASIC upgrade) (no bond!)  (Read 4133 times)
paladon
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August 01, 2012, 06:56:45 PM
 #1

[PGM] Paladon Green Mining https://glbse.com/asset/view/PGM


Hardware
1 Butterfly Labs Single @ 0.82Gh/s (be upgraded to BFL Single ‘SC’ @ 40Gh/s)

Share
1000 shares will be issued @ 0.25 BTC each. This price is including the ASIC upgrade. If upgrade will not be possible and I get refund of BFL, I will repay 0.07 BTC per share to stockholders.
Each share = 0.82Mh/s right now. After upgrade each share = 40Mh/s upgrade has been ordered! (or 60Mh/s according latest BFL info)
All of the Generated BTC will be payed as dividend every week -/- expenses

Revenue
All mining revenue will be distributed to shareholders in the form of dividends (after expenses). Dividends will be paid weekly. Profits are the net income remaining after expenses including operating costs (electricity, repair work, maintenance, small hardware), investments in existing or new service development, and any other action capital investment that the organization deems necessary to take part in.
Electricity is de largest part of the operating costs. Electricity price is € 0,22 p/Kwh (I know this looks expensive for a lot of people but a very normal price in The Netherlands). Electricity is green electricity so guaranteed no pollution. (I am thinking of building my own solar panels in the near future).

Currently the expenses% = ~25%. So ~75% of the generated BTC will be paid as dividend weekly.

Miscellaneous
Mining will occur at a mining pool of the company`s choice or solo mining if profitable. The operator of the company reserves the right regardless of the number of shares held to raise a motion and to liquidate the company's assets and cease operations. The operator also reserves the right to issue more shares to expand operation. Any motions raised by shareholders will be considered advisory and non binding. Shares do represent an ownership share in the mining hardware in the event of liquidation. In case of liquidation the mining hardware will be sold and minus expences be paid to the shareholders. The issuer can change the % of the expenses if needed to cover the expenses of the company. If the expenses of the company exceeds the income of the generated BTC, the company has to right to temporary shut down the operation. The issuer can buy back the share at any time at a price equal to 1.05 times the highest price the asset was traded on GLBSE over the prior 15 days. The operator of the company has the right to retain shares in the company.

About Me
I am living in The Netherlands and 36 years old and I will be doing my utmost best for you to keep this company up and running. Off course I wil identify bij GLBSE. More questions? Just ask!


Best regards,
Paladon

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paladon
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August 01, 2012, 06:57:41 PM
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FAQ


Q: When will the first dividend payment be made?
A: All dividend payments happen on sunday. The first payment will be the first Sunday after launch.

Q: Are you going to verify you glbse.com account?
A: Yes. I have will as soon as IPO is launched done

Q: Where can I see all coupon payments made to date?
A: All coupon payments will be listed in this thread

Q: Will you send a notice out to stockholders as we get closer to ASIC arriving?
A: Yes. I will make inform stockholders about all info regarding the company.
 
Q: Will you ever sell more shares?
A: This is very real possibility, but for the initial release it is not likely.

Q: What will happen if BFL cannot deliver the ASIC upgrade?
A: If that happens and I get refund of BFL, I will repay 0.07 BTC per share to stockholders.

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August 01, 2012, 06:58:08 PM
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reserved

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August 01, 2012, 06:58:40 PM
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reserved

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Parental Advisory Explicit Content


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August 01, 2012, 07:20:53 PM
 #5

Very nice IPO proposal  Grin

Looking forward to see it on the GLBSE chart.

Good luck with your mining company, you got my full support.


Greetz
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August 01, 2012, 07:40:47 PM
 #6

Hello fellow bitcoiners,

I like to gauge interest in my new mining company. I just bought 1 Butterfly Labs Single (delivery tomorrow or friday) and it will be upgraded as soon as IPO has been launched. There will be no extra costs for shareholders by the upgrade. Please respond your questions or critics. If enough bitcoiners like to invest I will open an IPO at GBSLE.

[PGM] Paladon Green Mining

Hardware
1 Butterfly Labs Single @ 0.82Gh/s (be upgraded to BFL Single ‘SC’ @ 40Gh/s) (photo will be posted this week)

Share
1000 shares with be issued @ 0.25 BTC each. This price is including the ASIC upgrade.
Each share = 0.82Mh/s right now. After upgrade each share = 40Mh/s
All of the Generated BTC will be payed as dividend every week -/- expenses

Revenue
All mining revenue will be distributed to shareholders in the form of dividends (after expenses). Dividends will be paid weekly. Profits are the net income remaining after expenses including operating costs (electricity, repair work, maintenance, small hardware), investments in existing or new service development, and any other action capital investment that the organization deems necessary to take part in.
Electricity is de largest part of the operating costs. Electricity price is € 0,22 p/Kwh (I know this looks expensive for a lot of people but a very normal price in The Netherlands). Electricity is green electricity so guaranteed no pollution. (I am thinking of building my own solar panels in the near future).

Currently the expenses% = 25%. So 75% of the generated BTC will be paid as dividend weekly.
At the moment the 0.82Gh/s can produce about 2.834751 BTC a week. Minus expenses I will pay 2,126063 BTC. This is 0,002126 BTC per share.

Miscellaneous
Mining will occur at a mining pool of the company`s choice or solo mining if profitable. The operator of the company reserves the right regardless of the number of shares held to raise a motion and to liquidate the company's assets and cease operations. Of course in case of liquidation assets will be sold and minus expences be paid to the shareholders. The operator also reserves the right to issue more shares to expand operation. Any motions raised by shareholders will be considered advisory and non binding. Shares do not represent an ownership share in the mining hardware and in the event of liquidation. The issuer can change the % of the expenses if needed to cover the expenses of the company. If the expenses of the company exceeds the income of the generated BTC, the company has to right to temporary shut down the operation. The issuer can buy back the share at any time at a price equal to 1.05 times the highest price the asset was traded on GLBSE over the prior 15 days. The operator of the company has the right to retain shares in the company.

About Me
I am living in The Netherlands and 36 years old and I will be doing my utmost best for you to keep this company up and running. Off course I wil identify bij GBSLE. More questions? Just ask!

Best regards,
Paladon


Quote
" Shares do not represent an ownership share in the mining hardware and in the event of liquidation."

I guess those are not shares of equity (stock) per se but more like bonds, with 0.82Gh/s "coupon"? 

Lets say that in next 6 months, diff will go up only by 5% on average per month:

Code:
Month  BTC        USD         Difficulty

1     11.71     90.4012     2245429.87528
2     10.48     80.9056     2475586.4375
3      9.39     72.4908     2729334.04734
4      8.35     64.462      3159545.32656
5      7.48     57.7456     3483398.72253
6      6.69     51.6468     3840447.09159

Please, do not take it personally.
As you can see, income per bond mining turd will fall fast and so will the price.
If you like to issue a real bond (aka take a loan to finance your business) you can not dump all the risk on turd holders as you do now.
Fix a part of the coupon (0.5%?) and add something from your mining power (0.3 Mh/s?).
Then add maturity date and buy back price and you got yourself a deal.
Sorry, but this sure looks like just another mining turd  Sad

If you believe that BTC price is going up for the next 6 months, you are probably better off buying BTC.

While reading what I wrote, use the most friendliest and relaxing voice in your head.
BTW, Things in BTC bubble universes are getting ugly....
paladon
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August 01, 2012, 07:56:36 PM
 #7



Quote
" Shares do not represent an ownership share in the mining hardware and in the event of liquidation."

I guess those are not shares of equity (stock) per se but more like bonds, with 0.82Gh/s "coupon"?  


Thanks for your question. Of course in case of liquidation assets will be sold and minus expences be paid to the shareholders. My info was not correct (sorry this is my first stock contract I make Smiley )

I will change the line to: ''Shares do represent an ownership share in the mining hardware in the event of liquidation. In case of liquidation the mining hardware will be sold and minus expences be paid to the shareholders.''


Furthermore I talked to Eskimobob and changed: If upgrade will not be possible and I get refund of BFL, I will repay 0.07 BTC per share to stockholders.

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August 01, 2012, 08:48:50 PM
 #8

Welcome to the Green Club!!!!

Soon we will have to offer a Green Index Fund lol  Grin

My Best advice is to be as open as possible with your Company, it helps in the long run

paladon
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August 02, 2012, 08:05:34 AM
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Welcome to the Green Club!!!!

Soon we will have to offer a Green Index Fund lol  Grin

My Best advice is to be as open as possible with your Company, it helps in the long run

Thanks RandomQ! Good idea to get a Green Index Fund Wink

I hope I can open the IPO within two days.

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August 02, 2012, 12:34:24 PM
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Sounds interesting !
paladon
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August 02, 2012, 07:30:07 PM
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IPO has been issued at GLBSE. Now it has to be checked by GLBSE. Launch date of the share will be (hopefully) 6th august.

paladon
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August 05, 2012, 10:54:05 AM
 #12

update:

BFL Single has arrived and is working good.

Launch of the share is:  PGM   2012-08-06 12:00:00



If you like to reserve your share before launch just PM me.

paladon
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August 07, 2012, 10:54:17 AM
 #13

Update

11,5% of shares are sold right now. Thank you for your confidence.

paladon
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August 08, 2012, 08:32:56 PM
 #14

Daily update:

34% of stock is sold. Mining is going steady... today was a lucky day Smiley

Still some stock for sale with ASIC upgrade!

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August 08, 2012, 08:44:29 PM
 #15

Any pictures of the mining rig?

paladon
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August 08, 2012, 09:00:27 PM
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Any pictures of the mining rig?

Of course see the url in first post by hardware.

paladon
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August 09, 2012, 07:36:06 PM
 #17

Daily update

Mining is going well, again a lucky day. All info about verification (copy passport etc) has been send to GLBSE. So hopefully they verify me tomorrow.

Sunday will be the first dividend payout.. still some shares for sale.

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August 10, 2012, 01:16:44 AM
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Lets say that in next 6 months, diff will go up only by 5% on average per month:

Code:
Month  BTC        USD         Difficulty

1     11.71     90.4012     2245429.87528
2     10.48     80.9056     2475586.4375
3      9.39     72.4908     2729334.04734
4      8.35     64.462      3159545.32656
5      7.48     57.7456     3483398.72253
6      6.69     51.6468     3840447.09159

That's 10% per month.
Just saying...
paladon
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August 12, 2012, 09:06:06 AM
 #19

Today around (22pm CET) I will pay the first dividend, still some shares for sale.

paladon
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August 12, 2012, 08:10:56 PM
 #20

Weekly dividends paid!

Total paid 0.97161702 BTC
Total shares 422.
Payment per share 0.00230241 BTC

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