Topic: [GLBSE] REBATE official thread - page 2. (Read 14362 times)

Nope, JRO has gone off the grid so to speak. Last time I spoke to him was several weeks ago.
Kluge talked to him though (phone call)and it seems like he's working hard to repay his debts.
//DeaDTerra

https://bitcointalksearch.org/user/jonathan-ryan-owens-22299

I think no

So, any updates on the buyback?

JRO posted update https://bitcointalksearch.org/topic/rebate-zipa-alberto-bdt-101098


I got one question, where did all these accumulated through offering security funds go?

People have some explaining to do if they have allowed someone dodgy to raise funds. It reflects on their reputations too imo.

Edit: http://bitcoinbolt.rememberi.es/category/jonathan-ryan-owens/

How much of the rebate funds went into this project ?

From what I've learned, those around him (not going to drop names here) have been covering for him for some time. To resolve a situation requires at the least basic communication, of which we've not seen for months.

I am glad to see that the GLSBE staff will step in to stop further investor loss, this makes your service that much better.

No phone replies, either, but someone around him said he's actively working to resolve the situation amicably for all.

He's not replying to anyone except those who are phyically beside him.

Someone should. Has he been active on the IRC? It seems all his projects are unresponsive, including the sites zipconf.com and kronos.io. He was online here just 12 days ago, there is too little time for the websites to go down even if he doesn't have Internet access. Were they already shut down? His latest post was on July 15.

X-Post https://bitcointalksearch.org/topic/m.1092784

After an IRC chat with Nefario we had clarified my position and I'm now able to release further updates. The reason that caused BDT freeze in first place is my involvement with Jonathan Ryan Owens (read JRO from here on), rebate IPO and suspicious funds management practices. It did not came without reasons and i believe in fact that Nefario just did the right choice the protect GLBSE market integrity. Some time ago i was working with JRO on some projects, and it was decided to hold an IPO on GLBSE for bitcoinrebate.com. At that time i was not fond of how GLBSE worked and didn't have time to investigate as i was busy with development, so i've trusted JRO to handle the IPO and funds on my behalf entirely. At some point i said i needed money for all the work i was doing, and got sent about 1000 BTC out of the rebate funds. I never knew the total amount raised, and didn't feel it was necessary to investigate. I have later learned that a total of 5000 bitcoin were raised. My relationship with JRO was interrupted shortly after, because of diverse reasons. After we parted ways JRO enquired me a number of times about taking the lead on the rebate project but we didn't reach an agreement. I was never enquired about profitability of the site or any financial detail. At this point, i have no idea where the rest of the funds raised from the sale of rebate bonds are gone, or if they have been exchanged to hard currency. Nefario transferred the totality of bonds to my account, i'll determinate the exact amount of bitcoin i got from JRO in the context of this project, and proceed with paying that amount back to investors through dividend payments in a unique solution. This was determined to be the best solution until we know how much can be recovered from JRO. Kudos to Nefario for handling matters in a professional way.

BDT trading is resumed since it was also determined that the asset has no involvement with this incident, and that there are no threats for GLBSE users. I'll proceed to execute dividends payment in the next hours. We won't pay late fees as it was determined that this incident is not directly caused by us.

Bests
Alberto Armandi
BDT

I've still to hear back from Jonathan Ryan Owens(JRO), have sent him an email for the second time, tomorrow I'll call him.

In the meantime I've been talking with Alberto in getting this taken care of and handed the asset to him.

The asset will remain frozen and funds (that can be recovered) will be returned to shareholders via dividend payments.

Alberto will post the details of what is to happen next and what has already happened.

Nefario.

He can't issue a buyback currently. But I've not heard anything from him regarding this.

Great.  So now there will be zero trades in the contract-specified 120 hour window.  If a buyback is in the works, I propose it be priced at the IPO price.

If development is still ongoing, we need to hear from those involved as to whats going on.  IMHO the biggest issue is a total failure to communicate and set reasonable expectations.

If the project is to be abandoned, I'd consider taking it over.  Whoever's in charge can pm me to discuss if desired.

The issue at hand has been handed over to Nefario. I will be working closely with him to ensure this ends well.
//DeaDTerra

I think Jonathan issued the asset and it's Alberto that's been busy. None of that is an excuse though.

Also, our money should still be with them, so I don't know how a buyback at market price is appropriate here. They should divide all the assets to the shareholders OR make a buyback, whichever is best for shareholders. Paying the excess as dividends and then executing a buyback is an option.

If the total they pay back is less than they've collected, I think we at least deserve an explanation about where the money is spent.

I don't plan on defending how this has been handled, and thinking about it makes me smoke... a lot. There was a buyout in the works, 20Mission was sounding pretty good... people had visited who weren't explicitly involved, who I talked to. But, there's been about a 2-week total lack of communication.

There have been quite a few honest mistakes which are excusable, I think, but I don't think I could defend the lack of communication. If I don't see any communication occurring by the end of the month, I'll be very depressed as I think I may stand to lose the most if everything collapses, but would be willing to give everyone the full details on everything which has happened.

The issuer contacted and trading of this asset has been frozen until further notice.

All attempts will be made to resolve this issue as soon as possible but is dependent on the issuer JRO, Jonathan Ryan Owens.

Nefario

That's not JRO's writing style, and I' be incredibly shocked if JRO and that person were the same, as someone who's spent hours on the phone with JRO. Fwiw.

Does JRO have any connection to this https://bitcointalksearch.org/topic/bitflowsystems-ipo-18197

I particularly point out a post that was made at https://bitcointalksearch.org/topic/m.345149


This basically describes zipconf and along with other things WiseOldOwl has posted leads me to believe they are one and the same. This whole thing is starting to raise big red flags for me sorry.