[GLBSE] BDK.BND (1%/week) *IN DEFAULT* - page 9.

Kluge

donator

Activity: 1218

Merit: 1015

Quote from: Nefario on May 06, 2012, 10:02:05 PM

Hey Kludge,
just to let you know there is a 3 day waiting period to having an IPO launch since the update (you can see on the asset creation page, it won't let you go ahead unless you pick a date 3 days into the future).

Saw it. It's still May 6th here. Wink

Nefario

hero member

Activity: 602

Merit: 513

GLBSE Support [email protected]

Hey Kludge,
just to let you know there is a 3 day waiting period to having an IPO launch since the update (you can see on the asset creation page, it won't let you go ahead unless you pick a date 3 days into the future).

Kluge

donator

Activity: 1218

Merit: 1015

10/2/12 Update: READ THROUGH Page 6 & beyond (if your settings are set to show 20 responses/page). I am currently in default on BDK.BND and have locked debt @ bondFV*1.01 -- *BUT* keep in mind I am not buying all the bonds back in one lump, but paying out irregular, unannounced dividends. If you are unfamiliar with what I'm doing, I strongly advise against trading these bonds. The current GLBSE contract is VOID. There is no longer a .101BTC/bond buyback guarantee on BDK.BND.

Current Bond FV @ "Lock In" rate (this is the amount I claim I am liable for assuming interest does not accumulate after the date I announced default): 0.092139BTC/bond
Current Bond FV @ "Compounded" rate (this is the amount I claim I am liable for assuming interest DOES accumulate after the date I announced default): 0.093139BTC/bond

Pretty cut-and-dry. I'm guessing if you're interested, you've invested in similar bonds and don't need me to re-hash the inner-workings. BDK's financials & operating activity: https://docs.google.com/spreadsheet/pub?key=0Ao892S4MOoDZdGZSbjJVd1ZTbFVLZE5aRE95bE91NVE&gid=18

GLBSE link: https://glbse.com/asset/view/BDK.BND

Contract
BDK.BND pays 1% of face value every week (Monday). Percentage will remain at 1%/week until the bond is bought back by the bond-issuer ("Ben Malec"). Bonds will be issued @ .1 BTC each. Thus, each bond will pay .001BTC every week. There is no limit on how many bonds may be issued nor when they may be issued. Bonds can be issued and sold without warning by the bond-issuer at any price he wills. Bonds cannot be sold back to the bond-holder except in case of a buyback. BDK.Bond does not have a set date of maturity.

"Buyback" -- The bond-issuer may buy back all bonds at a price of .101BTC/share at any time he wills, without warning. In this case, the bond-issuer will use GLBSE's forced buyback feature to pay .101BTC/share.

"Contract Changes" -- The bond-issuer is not permitted to change this contract at any time under any circumstance. To "change the contract," a buyback must be placed and a new bond asset listed on GLBSE.

--END CONTRACT--

Any questions?

Topic: [GLBSE] BDK.BND (1%/week) *IN DEFAULT* - page 9. (Read 17514 times)

Topic: [GLBSE] BDK.BND (1%/week) IN DEFAULT - page 9. (Read 17514 times)