I will work on getting a basic website up this weekend. It will not be much, probably just announcing this project and a copy of the draft IPO description.
If we want to keep this project moving forward, we need to get more reaction to the IPO description draft.
The earlier we can get the IPO offered and develop a relationship with BFL, the better position we can possibility be in when the time comes to place the first ASIC order.
I will start the listing on GLBSE on the weekend. I have had some people reading the IPO description and I believe we can go ahead.
I also have a question about the .03 per 1MH/S statement, I assume this means if all the shares are sold. More than likely, there will be some unsold shares and people are going to trade shares, especially in the start.
What happens to the dividends attributed to the unsold shares?
I can see to two things happening, the unsold dividends get divided among the active shares or the dividends go back into the pool for further investment.
Yes, it is .03 per 1MH/S if everything gets sold and it can be less or more depending on the exchange rate. I would say dividends get divided among the active shares, if we want to expand we raise more capital, share holders being given priority to purchase.
I also want to throw the idea out, similar to bitcoin.me, that maybe the pool could start purchasing current singles after it has met the minimum deposit on the principal per-order investment vehicle. Current singles have a 100% return value on the ASIC equipment, so it really is a no loss situation, unless the pool is REALLY unlucky mining with the singles, if it is not using them with a PPS pool, and it makes less than 1% weekly+compound. The decision to put the proceeds into the investment vehicle, further single investment, or dividing it among shareholders would be decided by vote.
Some calculations need to be made, I'm not sure if the reward will be more than 1% per week.