Thanks for the updates. You can show my username too.
All done.
Just a heads up, I am working on submitting an application to
Havelock Investments to raise capital for the SWMC Hashing Exchange. This will be a ground floor opportunity to earn a BTC income on the other side of the industry, rather than buying miningware to mine with, owners of shares in the SWMC Hashing Exchange will be earning BTC as a profit share in the Hashing Exchange's miningware and hash sales as well as on the hosting fees. The capital to be raised will be used to finance the physical infrastructure (miningware fabrication and supporting systems.) I have tried to raise the funds directly so as to save on some of the fees involved in an IPO, but there is little interest. So I will try the Havelock route to see if this improves the situation.
Thanks!
James
Thanks!
I was an intern at Merrill Lynch in college for a year, the number one thing the big brokers drilled into my head was do not mess around with something without reading absolutely everything because everything important is hidden in the fine print.
Please read the Havelock terms and conditions before you list on Havelock. The third and fourth paragraphs are horrible as they directly bar investors and companies that reside in the US, China and Germany, from listing or trading on their platform. That is three of the four largest economies in the world. I swear I remember you said that you are from the U.S., doesn't this immediately make Havelock a non-starter?
The "No Advice", "Accuracy of Information" and "No Liability" sections are even worse, as they basically say we don't guarantee the data is true and you can't rely on it in any way shape or form. They can literally invent numbers and just throw them up on their charts and graphs without repercussion. They assume no responsibility for anything at all. Worse yet, the company is based is Panama which has some of the worst investment protection laws in the world. They could seize all your funds or disappear and you will not be able to sue them even if you could find them. Honestly, the whole ToS reads like it was designed for scamming people. If you haven't legally registered as at least an LLC, you could potentially be personally liable and guilty of fraud. Do not list your company on their platform without talking to an attorney or stock broker and knowing your own liability.
If you still decided to go the Havelock route, you need to consider at the very least adding an option where you can convert Havelock shares
to direct shares like Asicminer does. For example with AM1 shares you can import/export shares between Havelock and "direct" shares. This protects buyers in the event that Havelock collapses, is fraudulant, loses popularity or regulators roll in. Sites like Havelock have zero compliance regulation to protect investors like the SEC/FINRA does for the real stock market (mandatory audits, portability, liability etc). Allowing "direct" shares is a way to make the shares portable, similar to the way that stock certificates make real stocks portable. For example, on Wall Street you can change banks without losing your shares, they just send over the stock certs from your old bank one to your new one. They protect investor from a Mt. Gox or Bear Stearns like collapse, or regulators shutting down the site.
ROI would be next to impossible.