Topic: [closed] Buy shares NOT - page 10. (Read 49696 times)

To clarify some things to questions and statements on this thread, there is a lot of missunderstanding (and wrong assumptions).

Firstly with regard to the IPO, a founder (the person who starts a company) can issue themselves shares in an IPO, usually they have a large majority(think Facebook founder Mark Zuckerberg). It's also known as sweat equity and is the norm. The company founder is not required to buy their allocation of shares when a company is made public (what a silly notion).

Secondly Dishwara has in his personal ownership over 1000 shares of DISHWARA, if you look back to the begining you will see that he made this very clear. He issued 1000 shares for himself, and then using his own personal bitcoin bought more.

At the time of issuing one share was 1btc, and 1btc was valued at $0.7 USD. So he has not valued his investment (of time and effort, AKA. sweat equity) at $14kUSD. It's as a result of the value of bitcoin rising since he begun that his investment is worth this much.

Dishwara is as a result the largest single shareholder, and the majority shareholder of this company(at over 51%). He is both the CEO and owner.

It's important that the founder has a large stake (share) in the company otherwise they have no incentive to work for it's success.

He was also the first company on GLBSE to pay a dividend.

He is also so considerate of his other shareholders that he (with his majority share) has decided not to receive dividend payments for himself (which would mean he would get 50%), and is only taking a 10-20% charge(I'm unsure of the exact amount, that's not clear) of each dividend payment, giving every onther shareholder almost double what they would be otherwise entitled to.

He is holding those shares in the companies GLBSE account as this is the only way to prevent them from getting dividend payments(this may be where some of the confusion has come from).

In terms of his reporting he has been as forthcoming as he can(posting on this thread regularly keeping everyone updated), but he is only one person. He could hire an accountant to have proper records and accounts put up, balance sheets, profit and loss statements etc. But that would pretty much use all the mining profits to do so, is that what you want?

The internal expenses are really of no concern to shareholders. Companies listed on major stock exchanges don't have every nitty gritty detail of their accounts put up, they hire an outside auditor (such as KPMG) to do anual public accounts (or quarterly) to give an overall view of the company.

Information that is available to investors is the shareprice, and the dividends that have been paid. I will be adding those features to GLBSE, they're just not there yet (although the information itself if there).


Now lets move away from company practice for a while and look at some real world facts.

Dishwara live in India, and is despite the difficulties managing to run this (I know from personal experience what it's like trying to do something like this in a developing country, I live next door in China), which is not easy at all.

He is a semi anonymous person, no one here knows where he lives(apart from the country, but good luck finding him there).

There was nothing stopping him from taking your bitcoin and running away, there are noo police that can get him, to is no regulator that will fine or imprison him for cheating you, or not doing his job.

In short you have no way to enforce your will or rules on him.

And despite this he continues, working, running his miner, and more importantly paying dividends, on terms much better than he's required.

If you don't want to invest fine, but I wouldn't complain about the way Dishwara has been running his company. I think he's a great example of how to run a small semi-formal venture using outside micro-investment, and it seems at this rate he's going to manage to pull it off and deliver an overall profit to initial investors.

Nefario.

As long as there are greater fools to sell the shares to, sure.

I think people don't realize these are dividends, and figure it'll take forever to 'repay' the initial investment at that rate.  They don't realize these dividends are independent of the stock price.  My last set of calculations showed it's actually a pretty decent APR so far.

I already got some profit from those shares...

Thus, why the lol?

I feel like this is an (over) reaction to one non-shareholding user who keeps beating a dead horse on terms that were agreed upon long ago, and not representative of Dishwara's general management style.  He's running around trying to raise money in INR, picking up equipment, having the electrician re-wire his freaking house.  Then some guy just keeps going on about some theoretical long-term scam that Dishwara could conceivably run.  At some point anyone is bound to snap and tell the guy to shut up.

In between, I already paid in full for 1 nos.of CMSPG 1200W & 2 nos. of R5870 Lightning cards from MSI. It MUST arrive with in this week.

Also today got information about only one R6970 Lightning card is available in stock(Since the card is new, it takes time to spread all over India). But after an hour got information that totally 4 cards available. So paid advance 19,000 INR for 4 nos. of R6970 Lightning card. Since it is going to be delivered through air, they said,it will reach them on 14th may 2011 & i can get from them on 15th may 2011.
If every thing goes fine, i hope 4 +2(4-6970 + 2-5870) card will be hand with in this week & i will complete 1st rig.
Some other problem i facing. For now, i can't invest in UPS for surge protection & the available product for spike & surge protection is Belkin Gold Series Surge protector with 6 sockets & many extras.
But the main problem is so far i bought 2 pieces from 2 different sellers from ebay.
Both the products after working 1-2 hours blown out the neon light inside the on/off switch. The product is working fine with Protected RED led & Grounded GREEN led. only problem is the power neon blowing.
I called electrician & he checked most of the connections in house & even gave new separate ground with copper wire for connecting PC only.
After i received the 2nd belkin gold surge, i sent the 1st for replacement & they cooly said it will take one week for them to send back.
So, i didn't send the 2nd one, as with 2nd one only i am running now.
Also, by asking shop...i got contact for both Belkin & also service center, so here after they service soon & send & also tomorrow i will speak to technical person in Belkin & ask him to send me 3-4 surge protector, by opening & testing & if power neon blown out, replace it & ship to local seller.
So that after 1-2 days, i have to run with it to shop & ask them to send, which will take totally 15 days or more for me to get replaced product.
In between spoke to another dealer friend & he insisted to go for Microtek Online UPS for surge/spike protection. But the cost of even a 3kva UPS(V-Guard) is 48000 INR + tax & i think it is not feasible to go for UPS.
Since we mine with pool directly & data sent to pools instantly nothing is stored in HDD. So, no need for backup & so no need for UPS.
Hope tomorrow i get answer.

Check back in the thread. There has been 1 payout before.

lol @ anyone who bought shares.

Thanks!
I had bought a share and my 0.03644628 BTC arrived. The downside is that "the minimum amount you can withdraw is 1btc, with a fee of 0.01btc.".
Well, that might take a while

p.s. is there any list of the payouts of the dividends (with date) somewhere!

Hi,
Share Holders. So far 26.3 coins in bitcoin client. I thought about giving them after it reaches 30 BTC.
But i give now itself. I took 24 coins (for easy calculations).
Actually instead of sending my profit directly from bitshare bitcoin client.
I will send 20 % that is 4.8 coins to myself, address 1A7jbSvBCNjDmN8TcS5sRXdRnruGypuUbX
& remaining 19.2 is sent to share holders as dividend.
Each share gets 0.02644 coins as profit.

I really think (hope) a language barrier is at fault to this because knowing who your shareholders are will in no way help with any of the things me and some others have said to you.

If people ask me to stop posting here I will (as I'm not a shareholder), I was just quite excited about the concept of GLBSE and being able to invest in small startup companies in a convenient way and under these conditions I cannot do this. Fir what it's worth this seems to be an issue with the other company (Skepsidyne) I just didn't want to start saying the same thing in two threads

I will add once I have time to figure out how to find my user ID.  So I'm guessing that one will be for verified holders and this one for others?  It would be best to keep this open IMO since you wouldn't want to alienate people thinking of buying.  Most people will want to ask questions before they spend the money to buy shares, it's only fair we answer their questions as well.  BTW I meant no disrespect before, maybe it's a language barrier maybe it was you not fully understanding how public companies work.  I was just upset about how IMO you had a sense of entitlement which wasn't warranted.

How will you know I'm not cheating? There is no way for you to connect a GLBSE user ID with a forum name.

I request those who bought shares of DISHWARA, please update this web page with your forum name, user id of glbse.com & number of shares you have.
http://forum.bitcoin.org/index.php?topic=16360

This will help me to respect & answer my share holders properly.

Thank you.

Each share represents a portion of your company. For each share you sell, you have less ownership of the company.

But previous posters are correct. Once a company goes public, it is exactly that, owned by the public (the public that bought shares in the company, mind you)

Once a company goes public 100% of the company is up for grabs by anybody, you can only claim majority shareholder status if you own (bought) 50% or more shares of the company. And because you started the company in the beginning, true the company would have belonged to you, Dishwara, but as soon as you made it public, you immediately divorced yourself from the company unless you buy back your shares.

True, if you had a loan it would've been different, I guess this is the difference between a loan and shares.

If one is withholding shares from the market, one should either buy them immediately, or put them for sale immediately, if 2000 shares were issued, and you only bought 40 of them, I would agree with previous poster, this, unfortunately, doesn't make you the majority shareholder, I'm afraid.

I am showing appreciation to my share holders from heart.
I actually don't understand in which way you want, me to show my respect to my share holders.


Please don't say again & again that it was/is share holders who bought my share helped me.
I never forgets it & will never forget.
But please tell me how to find from 1000's of members, the one who bought my share & questioning me & the one who don't even know my share, but to troll & irritate me asks me 100's of question.

Can you explain me how i disrespectful.
Besides, how i know who bought my shares?
I already asked some 10-20 days ago to contact me through PM, with how many shares they bought with their name.
Only 2 persons contacted me.
With out knowing who bought my shares & who is my share holder, how can i respect them?
It is very simple for some one to troll here & irritate me, so that i will be ONLY answering them not concentrating on mining or mining related things.

Please i ask all my share holders to sent me in PM with your forum name, user id & the amount of shares you bought.
You also can email me at [email protected]
Your name,user id & amount of shares you bought will never be given out.

Please reply with your forum name, your user id & number of shares you have here,
http://forum.bitcoin.org/index.php?topic=16360
I am asking it, So that i can treat my share holders with respect only & avoid disrespect even for a second in present & future.

You don't seem to understand how a public company works. You do not own it, the shareholders do, so you own 40/2000 2%. If you don't like it buy more shares. You also say you expect this because you put effort into the company? Well, that's what's being an employee is like, yes the CEO of a company is just another employee.

In my opinion you need to release the left over shares to the public, buy them right now yourself or cancel them. Cause officially the shares are now owned by the company (note: this is NOT you) and companies are not allowed to own shares of their own company. The can buy them back of course, but only to either hand them back out directly or take them of the market (effectively destroying them and reducing the total number of outstanding shares).

You keep saying you asked for a loan. But you didn't get one did you? You created a company and held an IPO, this has certain consequences and the ones I'm picturing are some of them. Frankly I think GLBSE should enforce these rules (like any other market operator). The way it's set up now you are taking advantage of your shareholders.

Boy am I glad I didn't put in a lot of money in this company, your attitude is appalling dishwara.  There's a difference between majority owner and outright owner. 

"You want me to just mine & give all to every one & want me to go empty handed?
I am fighting here daily with heat & cold to run the system. All i do is for free?"

You would not have the chance to mine if it weren't for your shareholders although it's great you want to profit, you should show a LOT more appreciation to your share holders.  They gave you money for free hoping in the company and believing in you.  To be hostile towards them even if they bought just one share is massively disrespectful.

I made it a public company by releasing IPO. It doesn't mean i don't have control. I just started the company with the bitcoins i got. While other share releases, already own the hardware & issued shares to buy new hardware. so there is huge difference between my shares & others. And some just want to irritate me, so they buy one share & ask thousand questions. I know, its my responsibility to answer & to give full details about how all the money spent.

But comparing, i can't resist. My shares was compared with today price, while i issued shares 1 btc = 0.7 usd, it was less more than 30 times.

I asked loan, if i got loan everything is different.

The above is wrong. I take back that statement.

I already have 1000 shares in my hand, but i didn't paid any bitcoins, so it gets no profit.
I take profit 10 or 20% (If nothing is saved for future).


Even though i released shares still i am the owner as i have 1000+ shares whether i put bitcoins or not.
The one with 51% of total shares is the owner.

You want me to just mine & give all to every one & want me to go empty handed?
I am fighting here daily with heat & cold to run the system. All i do is for free?

To solve the above problems, i temporarily stopped selling shares & i also believe with the share released & amount raised i can able to mine to give profit to my share holders.

I'm sorry but that is a terrible attitude IMO.  "Its MY company man, I am the CEO/OWNER of this company." That's not true at all once you held the IPO it became a public company, from what I heard you technically aren't even a majority owner yet.  You said you have only a few shares, but the option to buy 1000 at 1 BTC a piece.  Although it's reasonable you want to profit none of this would have been possible without your shareholders who are just as much owners of this company by share count as you are because you made it a public company.