WIT
Issued by
W Investment Technology Research Center
Generally speaking, this is a private loan pass-through stock.
WIT will deploy the capital raised by the stock and use them for give payday loan to a group of special people. They have good income and good social networks, but in a certain very special situation, they will like to borrow money from us with a 2% daily interest. We have been in this business for a few months.
As I have sophisticatedly arranged and put my own money in, once the shares are bought, the capital can be deployed within 1-2 days. I will publish financial reports daily. As there could be some delays, so I’d rather say publish daily financial reports. The financial reports will be here:
https://docs.google.com/spreadsheet/pub?hl=zh&hl=zh&key=0ArIvBgSQ8q61dEwzMnA5a2t2TlBpY0g2SDdLUERaekE&single=true&gid=0&output=htmlThe dividend will be paid out on every Monday or Tuesday.
Thanks for the support of the helping community members. They showed interested in my program in such an early stage of great uncertainty, and they helped me to redo the contracting. I listened to them:
- Be clear on “stock or bond”. This is a stock, which means that it is somehow risky more than a typical bond. Investing in it you’re at the risk of losing part or all the money you invested.
Dividend will be paid weekly, but I will publish financial reports daily. Dividend rate is expected to be be 0.2% -1.2% daily, but not guaranteed.
More detailed operation indicators, but not only capital account balance records. So I will publish financial reports.
Some of the forum members may have known that this high yield program had been in a pre-IPO discussion in the Long-term offer child board. The previous ID I use bring up dramas: Capital One Corporation. I picked up “Capital One Financial” in a novel, and I admire their ability to identify the right people to make them use credit card, high interest, low default rate, low uncollectable loss. I in no way tried to misleading anyone. In my home country, few people know about this name. Hence I just come with this new ID, starting my own brand, WIT, W Investment Technology Research Center.
Trust is something can only be built and broken. I’m now building it. I’m trying to carry out a long term operation in the Bitcoin economy. This high yield security is my first step to build a brand from scratch up. I bet that the hatred will help WIT to grow better in the long term. If WIT have survived and succeeded in waves of accuse, how bright should the credibility be?
-----------------------------
[Contract]This is a pass-through. The stock will offer investors an opportunity to Share the profit from the financial business I'm running.
Estimated daily dividend rate is 0.2% to 1.2% but the dividend will be accumulated and distributed weekly. It is not guaranteed. This Share will be paying dividend after 7 days of the IPO. The dividend rate will be the product of the dividend rate and the capital account balance.
Each Share will have its capital account. the balance of the capital account is the sum of
(1) The face value of the Share(0.1BTC)
(2) Dividend payable
(3) Retained dividend
(4) Minus BSDs(big special dividend).
The capital account balance will be 0.1BTC at the beginning. The balance of the capital account will be published in the bitcointalk.org forum. And the records of the capital account and the financial record is here:
https://docs.google.com/spreadsheet/pub?hl=zh&hl=zh&key=0ArIvBgSQ8q61dEwzMnA5a2t2TlBpY0g2SDdLUERaekE&single=true&gid=0&output=html If the capital account balance is lower than the face value, the issuer has the rights to pay dividend as low as 1.5 weekly and retain rest of the dividend in the capital account until the capital account balance equals the face value.
The Shares can also be partially purchased back by paying BSD.
The issuer can buy back the Share at any time at a price of capital account balance plus 2 days' worth of dividend.
Some of the days we have to stop running the business temporarily, and we can make no profit out of the raised capital and I will pay the stock investor a 0.05% daily dividend. Usually this kind events last for 2 days and never exceed 4 days in the history. It will happen 1 or 2 time every month.
This investors of the stock is at the risk lose part and all their investment. Though I'm quite confident about the safety of the investment, there is still risk attached to the business itself. The profits are not guaranteed, the dividend rate may be adjusted with a 5 days’ notice.
There is no exchange rate risk involved.
The Share is a preferred equity tranche of the business. The issuer holds the common equity tranche of the business. The risk of the business will be distributed between the issuer and the Share investors in such sequence, which means that the event of failure of the business, the loss will be distributed in this way:
(1) The common equity tranche take the first 20% of the loss occurred in the business;
(2) The Share investor take the rest of the loss up to 80%
The issuer reserves the right to be a market maker.
-----------------------------
