How many GH/s does your mining operation currently have and how much should 1 share (out of how many) cost?
As a benchmark: 1 MH/s 100% PPS "forever" bonds currently are traded between 30 and 40 Bitcents.
Currently, less than 1 GH/sec. I'm obviously building this from the ground up.
There will be 1 million shares forever (I will not seek to ever create more), but I would like to get 1BTC each for them. Yes, I'm aware thats about 1/8th of currently circulating Bitcoins.
So, everyone has to invest into it at a $5,400,000 valuation, before it has grown above 1Gh/s... You need to rethink your model.
Also, why do shares represent 0% of company assets. This is odd. You have outlined what happens during a liquidation event, what about an acquisition event? The way you have written your offering, seems you may be able to legally sell all company assets to a third party, pocket the cash yourself (you are the only shareholder who owns assets), and leave other investors holding shares in an empty company with no assets or operations.
I don't think you are trying to be deceptive, but with shareholder agreements, you should very explicit and describe every possible case, so there are no misunderstandings.
There is nothing in the contract to actually allow acquisitions, nor am I willing to entertain offers to do so either.
The only reason I have shares represent 0% of company assets as the assets, until the event of liquidation, are owned by the growth fund. Assets can be sold, replaced, decommissioned, or otherwise removed from the asset pool for any reason I deem necessary to continue profiting (such as upgrading, the hardware actually dying, switching from FPGA to ASIC, etc).
And yes, that includes selling not-quite-dead hardware on eBay and putting the proceeds back into the growth fund. The contract fully lets me do that, nothing in it lets me leaking asset value out through any method under than the depreciation of the assets themselves (ie, plugging them in and turning them on).
Now, you do bring up a good point, this agreement DOES allows me to purchase other mining companies and hold them as assets; but as I said, I would never entertain BEING purchased. I would rather liquidate the company than let it be purchased.
tl;dr: Shares only entitle you to dividends.
How are these two similar?
