ZIGGAP still owes people on BTCJAM over 900 bitcoins.
Links? / OP care to comment on this?
The initial owner of ZIGGAP did take out that loan to start the company, however that loan was taken out by HIM and not by the company. The funds from this IPO are for the company, and not for him. Ergo the funds from this IPO are not going to be used to pay the loan.
So someone else started Ziggap and has now sold it - and you (new owners) didn't take on the loan?
How do we know you won't sell it again - and this time the next owners won't take on paying dividends to the shares?
Once a company has skipped on its commitments once it's hard to have confidence it won't do it again - especially when there's no record anywhere I can see of a change of ownership (i.e. for all we know the 'new' owners could be same as the 'old' ones - and the change of ownership just an excuse to default on the loan). This really should have been explained in your OP - rather than dragged into the light by someone else later.
Who said the company changed ownership? Right now this account is speaking as the company which is composed of a team of individuals. Who has skipped on any commitments? Is the loan behind? Or late? Or defaulted?
The point that I'm trying to make is that all personal assets or liabilities and company assets or liabilities are kept strictly separate from each other at all times. The owner of ZIGGAP took that loan, not ZIGGAP. ZIGGAP is composed of multiple individuals but was started by one individual.
Well what you say here doesn't match what was said in the BTCJam listing.
It's listed there as a business loan not a personal loan.
And there's NOT an "initial owner" - it says "Ryan and Stormy Schreiber," : or are "and Stormy" the two middle names of the owner? If there are two people, one named Ryan and the other Stormy then which of these is the "initial owner" who has responsibility for the loan? And does the other one know that he was never one of the owners?
Your (if it's you) responses to questions there further make it clear that the loan is to a business not an individual - discussing things such as what happens if the business fails.
Now it may well be that you intend to honour the debt and are now trying to CONVERT it into a personal loan: but spinning it as though it was always a personal loan (albeit used to invest in a business) just doesn't wash.
A loan
FOR a business is not the same thing as a loan
TO a business. How could Ryan or Stormy have taken a loan
AS a business when the loan was used to create the business? It didn't exist before that.
Do you see how there are first and last names up there on the loan, but there are none anywhere on the IPO documentation or the website?
SO who was the "initial owner"?
You claim it was a personal loan - yet one of your first responses in the BTCJam listing is:
" Hi User #007, Nice nick! This BTCJam listing is an investment in the form of a business loan. Though it is highly unlikely, there is always a possibility that some sort of freak accident may occur that results in ZIGGAP failing. There are very few things that I can think of that could cause this to happen, besides something extreme like an unexpected death. However, since we are a multi-person team even in the event of a death the rest of the team could take over and continue the business. In the highly unlikely event that the business model itself fails we can always revert back to what we were doing with QuickBitcoins.net, which has been proven to be successful. Regardless the business would continue and the loan would be paid back."
That clearly states that a team/company has responsibility for repayment, NOT an individual. Are you seriously saying you think your response there could be read as the loan being to a single person?
Is this "initial owner" - with the interesting middle names of "and Stormy" also schizophrenic - referring to himself as "we are a multi-person team"? If it was a personal loan then only the individual borrowing would have responsibility to repay.
