Topic: [IPO] Letsdice.com IPO Prospectus - page 3. (Read 20989 times)

too bad i a bit early that this policy post..

I think this point is clear for everyone, but still, I'd like to ask again:
If the IPO don't reach the 8k BTC until the 15th (1,5 days remaining). The site won't go online, and all the investments will return to the correspondent wallets?
Thanks!

Shares will be listed on Bitfunder, Havelock or other market?

I'm thinking about putting some coins in this because I lost trust in JD but I have some questions:

1. Will I be able to send invites if i decide to invest?
2. Will bets be realtime or delayed?
3. Is it provable fair? If so how?
4. Is it possible to sell shares back to you or am I only able to sell if I find a private buyer?

Thanks

Update - September 13th - New Bankroll Info

1. About the Bankroll

a) The first 10,000 BTC bankroll belongs to the shareholders of the initial 20% of shares released.

b) These original IPO shares are specially noted and traceable (so we know who owns IPO shares)

c) Every time the bankroll increases by 10,000 BTC, we will send 2,000 BTC back to the shareholders who bought in at the IPO. So, when the bankroll reaches 20,000 BTC, a payment of 2,000 BTC will be spread among the original 1,000,000 shares.
i. Bankroll: 20,000-2,000=18,000
ii. Bankroll: 28,000-2,000=26,000
iii. Bankroll: 36,000-2,000=34,000
iv. Bankroll: 44,000-2,000=42,000
v. Bankroll: 52,000-2000=50,000

d) In this way, when the bankroll hits 50,000 BTC, the original shareholders will have recovered their investment, while still retaining their shares. The entire bankroll belongs to the shareholders.

e) The initial bankroll is planned to grow by [wagered amount x 1% x 25%] (although this will be decided in the initial board member meeting). Board members may decide in the early stages to increase this percentage to allow for faster bankroll growth.

f) If the bankroll drops below 5,000 BTC, we have the following plan (which we hope we will not have to ever use!)
i. We will sell the necessary number of shares at market price to bring the bankroll back up.
ii. The IPO shareholders will have first preference to buy these shares.
iii. This 5000 BTC bankroll is also the property of all shareholders, and will follow the aforementioned restitution plan (i.e., 2,000 BTC back to the original shareholders per 10k raised)

2. Regarding the Board of Directors
a) To become a board member, one must own at least 20,000 shares and hold them for more than 2 months.
b) Any given shareholder may only have one board seat, regardless of number of shares held.
c) The LetsDice team has only one board seat (although we retain a veto power)

I don't disagree overall, but I think the amount wagered is from test coins. I had 1BTC in my account automatically when I clicked one of the links above.

This whole thing seems so sketchy.  So in 3 days, they have 100,000 BTC wagered?  And that is with the highest house edge out there of 2% (double that of Just-Dice, Primedice and coinroll.it).  I am going to laugh my ass off when any idiots who fall for this scam cry like babies.