Topic: Financial Reporting for Securities - page 3. (Read 3332 times)
If this was Reddit, I would give you an upvote.
Hi guys,
Longtime lurker. I’ve become more actively engaged in the community more recently, specifically the securities side of things and noticed something: A dearth of transparency, even for the large issuances. Current and prospective investors have very little to go on, which allows scammers/poor investments to suck-up capital and makes the cost of capital for profitable and strong enterprises more expensive. This is a drain on the entire community. I think a lot of good can be done for the market stability and perception of bitcoin securities if people would move towards transparency. Incidentally it would be more profitable for people running solid, honest businesses because they would be able to raise capital more cheaply.
I don’t want to be mean and single out any entity/person, but stuff like this:
https://docs.google.com/spreadsheet/pub?key=0AoYY1V1t8ncndFBwV04zZzBKRWFqbFFua2JsT3Jaemc&single=true&gid=2&output=html
makes little sense and has only limited usefulness for a potential investor.
I want to explore the possibility of having widespread adoption legitimate accrual accounting and useful disclosure/reporting. And when I say “useful” I mean for a miner disclosure about each piece of equipment you have, the shape it is in, projected performance, allocated expenses for the period broken down (and not on a cash basis), etc. I mean for an investment fund, the FMV of your holdings @ the reporting date, the dividends from your holdings accrued and included in NAV, clear disclosure about the management fee, etc.
Here is what I propose, and tell me if I am being too optimistic; One of the large exchanged-traded entities (maybe run by someone on this board, BTCinvest? ASICMINER?) takes the first step with this.I am a Canadian CA who can spare a few hours a week and am willing to help out for free to get this done. Input is appreciated.
BTC
Longtime lurker. I’ve become more actively engaged in the community more recently, specifically the securities side of things and noticed something: A dearth of transparency, even for the large issuances. Current and prospective investors have very little to go on, which allows scammers/poor investments to suck-up capital and makes the cost of capital for profitable and strong enterprises more expensive. This is a drain on the entire community. I think a lot of good can be done for the market stability and perception of bitcoin securities if people would move towards transparency. Incidentally it would be more profitable for people running solid, honest businesses because they would be able to raise capital more cheaply.
I don’t want to be mean and single out any entity/person, but stuff like this:
https://docs.google.com/spreadsheet/pub?key=0AoYY1V1t8ncndFBwV04zZzBKRWFqbFFua2JsT3Jaemc&single=true&gid=2&output=html
makes little sense and has only limited usefulness for a potential investor.
I want to explore the possibility of having widespread adoption legitimate accrual accounting and useful disclosure/reporting. And when I say “useful” I mean for a miner disclosure about each piece of equipment you have, the shape it is in, projected performance, allocated expenses for the period broken down (and not on a cash basis), etc. I mean for an investment fund, the FMV of your holdings @ the reporting date, the dividends from your holdings accrued and included in NAV, clear disclosure about the management fee, etc.
Here is what I propose, and tell me if I am being too optimistic; One of the large exchanged-traded entities (maybe run by someone on this board, BTCinvest? ASICMINER?) takes the first step with this.I am a Canadian CA who can spare a few hours a week and am willing to help out for free to get this done. Input is appreciated.
BTC
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