Topic: [GLBSE] MPOE ETF - September Financial Report Available - page 5. (Read 14729 times)
Will all IPO funds in each round be used in full for each round of the MPOE public offering or will you monitor funds already sent to the PO and do your own valuation? MP himself said he thought the first round IPO of MPOE was overbought. If you get 100 BTC by April, will you send the lot for even more overvalued MPOE shares?
Won't invest in this until the deal structure is more transparent. What if all the money you pay for the ETF just get 1% of the MPOE company? And the IPO process will be longer since everyone here is aware of such big issue. So maybe MPOE should help both Mircea and us by offering the ETF a clear price.
Mircea is not offering the ETF. I am. Also, the initial offering of the ETF is at a clear price of 0.1 BTC per share.All the money you pay for the ETF could theoretically garner the ETF controlling 1% of MPOE, and in that case the ETF would receive 1% of the dividends from MPOE, the rest is laid out in the terms of the ETF certificate which is quoted in the OP.
The deal structure is the terms of the contract and I'm having a hard time deciding what you think is obscured in it. Can you be a little more specific? (I mean this sincerely)
Isn't this a little akin to asking a farmer for financing and a bank for milk and grain? A company builds, the market prices. Not the other way around.
Won't invest in this until the deal structure is more transparent. What if all the money you pay for the ETF just get 1% of the MPOE company? And the IPO process will be longer since everyone here is aware of such big issue. So maybe MPOE should help both Mircea and us by offering the ETF a clear price.
This is to certify that Michael Carver did ask Mircea Popescu for his thoughts on the ETF and Mircea Popescu saw no problem with it.
Good luck in your venture smickles
Good luck in your venture smickles
Interesting.
Hmm, did I post this in the wrong forum? Would the 'Bitcoin Forum > Economy > Marketplace' have been a better choice?
Can you clarify if I have this correct: MPOE.ETF will raise funds through GLBSE prior to each new release of MPOE stock. All funds raised will then be sent to MPOE to gain an allocation of stocks.
Will you also be seeking to source MPOE stock on the secondary market (i.e. current stock holders looking to unload) and offering stock to others on the secondary market? You could act as a market maker for MPOE stocks and profit from the spread.
I'm interested in MPOE stock, but I won't do it without knowing what price I'm paying. As far as I see, this ETF still doesn't provide that, yet. Once it builds up a sizable holding and the ratio of stocks held in the ETF to new stocks purchased each month it will be easier to ascertain market price.
Yes, MPOE.ETF will raise funds prior to each new release of MPOE stock. All funds raised plus any retained earning will go to the subsequent MPOE offering, or if it's in the financial interest of the fund, some/all available funds may be apportioned to a purchase on the secondary market.Will you also be seeking to source MPOE stock on the secondary market (i.e. current stock holders looking to unload) and offering stock to others on the secondary market? You could act as a market maker for MPOE stocks and profit from the spread.
I'm interested in MPOE stock, but I won't do it without knowing what price I'm paying. As far as I see, this ETF still doesn't provide that, yet. Once it builds up a sizable holding and the ratio of stocks held in the ETF to new stocks purchased each month it will be easier to ascertain market price.
Your are correct, this ETF doesn't provide a price for MPOE stock /yet/. But it soon will.
Can you clarify if I have this correct: MPOE.ETF will raise funds through GLBSE prior to each new release of MPOE stock. All funds raised will then be sent to MPOE to gain an allocation of stocks.
Will you also be seeking to source MPOE stock on the secondary market (i.e. current stock holders looking to unload) and offering stock to others on the secondary market? You could act as a market maker for MPOE stocks and profit from the spread.
I'm interested in MPOE stock, but I won't do it without knowing what price I'm paying. As far as I see, this ETF still doesn't provide that, yet. Once it builds up a sizable holding and the ratio of stocks held in the ETF to new stocks purchased each month it will be easier to ascertain market price.
Will you also be seeking to source MPOE stock on the secondary market (i.e. current stock holders looking to unload) and offering stock to others on the secondary market? You could act as a market maker for MPOE stocks and profit from the spread.
I'm interested in MPOE stock, but I won't do it without knowing what price I'm paying. As far as I see, this ETF still doesn't provide that, yet. Once it builds up a sizable holding and the ratio of stocks held in the ETF to new stocks purchased each month it will be easier to ascertain market price.
*Note* This is not an exchange traded fund by the typical financial definition. This is a fund, in the financial sense, which is traded on the exchange GLBSE.
I am pleased to announce the creation on the Mircea Popescu's Option Emporium Exchange Traded Fund.
GLBSE ticker: MPOE.ETF
Financial Statements
Chart: https://glbse.com/asset/view/MPOE.ETF
I am pleased to announce the creation on the Mircea Popescu's Option Emporium Exchange Traded Fund.
GLBSE ticker: MPOE.ETF
Financial Statements
Chart: https://glbse.com/asset/view/MPOE.ETF
Quote from: original_post
As you may know, Mircea Popescu's Option Emporium (MPOE) has gone public, however, he did it on his own. I'm sure many of us would like to be able to trade stock in MPOE on an exchange, so I decided to create this fund to satisfy this desire.
Below is a copy of the terms of each certificate. It outlines exactly how it works. Feel free to ask any questions. You may also catch me in #bitcoin-otc or various other bitcoin channels on freenode as smickles.
Below is a copy of the terms of each certificate. It outlines exactly how it works. Feel free to ask any questions. You may also catch me in #bitcoin-otc or various other bitcoin channels on freenode as smickles.
Quote
The owner of this certificate (here after know as "THE OWNER") holds one share of MPOE ETF (hereafter know as "THE FUND"). Each share of THE FUND entitles its owner to a distribution of the net gains (hereafter know as "THE DIVIDEND") generated by THE FUND. Each share of THE FUND does not convey any voting rights.
THE FUND will attempt to generate gains by investing its capital in the stocks of Mircea Popescu's Options Emporium (http://polimedia.us/bitcoin/options.php) (hereafter know as "THE INVESTMENT").
THE FUND will raise capital by issuing stock and retaining earnings.
The initial issuance of stock will be in an amount to meet demand at a price of 0.1 BTC per share and will be offered until the public offering of THE INVESTMENT on March 31, 2012. Going forward Stock will be issued in an amount to meet demand during a period of 7 days prior to each public offering of THE INVESTMENT. These future issuances will be offered at a price equal to the average of 7 days market value of THE FUND previous to the first day of each issuance period.
Net gains will be equal to gross gains less expenses and retained earnings.
Gross gains will be equal to any dividends received from THE INVESTMENT, as well as any profit from sale of portions of THE INVESTMENT.
Expenses will be an initial, single occurrence, of 20 BTC as a listing fee which will be recouped from the capital gained by the initial issuance of stock, and, going forward equal to 1% of gross gains.
Retained earnings will be equal to 49% of gross gains.
THE DIVIDEND will be equal to 50% of gross gains and will be paid on the 15th of each month starting April 15th, 2012.
THE FUND had received the approval of Mircea Popescu himself.
Any modification of these terms shall be subject to the bylaws presented at (http://mostofmany.com/mpoe-etf/bylaws.html).
THE FUND will attempt to generate gains by investing its capital in the stocks of Mircea Popescu's Options Emporium (http://polimedia.us/bitcoin/options.php) (hereafter know as "THE INVESTMENT").
THE FUND will raise capital by issuing stock and retaining earnings.
The initial issuance of stock will be in an amount to meet demand at a price of 0.1 BTC per share and will be offered until the public offering of THE INVESTMENT on March 31, 2012. Going forward Stock will be issued in an amount to meet demand during a period of 7 days prior to each public offering of THE INVESTMENT. These future issuances will be offered at a price equal to the average of 7 days market value of THE FUND previous to the first day of each issuance period.
Net gains will be equal to gross gains less expenses and retained earnings.
Gross gains will be equal to any dividends received from THE INVESTMENT, as well as any profit from sale of portions of THE INVESTMENT.
Expenses will be an initial, single occurrence, of 20 BTC as a listing fee which will be recouped from the capital gained by the initial issuance of stock, and, going forward equal to 1% of gross gains.
Retained earnings will be equal to 49% of gross gains.
THE DIVIDEND will be equal to 50% of gross gains and will be paid on the 15th of each month starting April 15th, 2012.
THE FUND had received the approval of Mircea Popescu himself.
Any modification of these terms shall be subject to the bylaws presented at (http://mostofmany.com/mpoe-etf/bylaws.html).
Quote
-----BEGIN PGP SIGNED MESSAGE-----
Hash: SHA1
To all concerned, my name is Michael Carver. I go by smickles on http://bitcointalk.org and I also go by the name smickles on #bitcoin-otc on freenod. I use the Web of Trust which is associated with that channel as the user smickles.
-----BEGIN PGP SIGNATURE-----
Version: GnuPG v1.4.11 (GNU/Linux)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=ppzN
-----END PGP SIGNATURE-----
Hash: SHA1
To all concerned, my name is Michael Carver. I go by smickles on http://bitcointalk.org and I also go by the name smickles on #bitcoin-otc on freenod. I use the Web of Trust which is associated with that channel as the user smickles.
-----BEGIN PGP SIGNATURE-----
Version: GnuPG v1.4.11 (GNU/Linux)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=ppzN
-----END PGP SIGNATURE-----
Jump to: