[IPVO] [Multiple Exchanges] Neo & Bee - LMB Holdings - page 204.

astutiumRob

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Quote from: cryptocyprus on September 07, 2013, 11:06:58 AM

Announcing the upcoming public offering for LMB Holdings, which will take place in a coordinated release across multiple bitcoin securities exchanges. LMB Holdings seeks to raise capital to fund two complimentary new ventures: Neo and the Bee Payment Network.

Why have you registered the company in the UK when it's target market is Cyprus ?

What are the real reasons behind the 'virtual entity' nonsense when you could be selling the real shares in the real legal entity ?

Bee looks like it will never make a profit - so why are you bothering to setup something that is expected to lose a million EUR a year ?

Where in the prospectus have you accounted for the costs and deposit requirements of your banking licences ?

IMHO it's a good 1st draft, but still needs a *lot* of detail and work:
You rely on the BTC 'price' growing too much - there is neither an expectation or g'tee this will ever happen.
There are better options for AML/KYC than a 75k licence - SaaS services from IFS for example.

cryptocyprus

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Quote from: floatyfish on September 07, 2013, 12:46:44 PM

Have you thought of using businesses like Crypto Financial at all to either expand your business or buy/sell bitcoins?

I have spoken with Crypto Financial whilst we were developing the business, we have and will continue to explore many different avenues in relation to the growth and strengthening of our business.

Deprived

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Quote from: cryptocyprus on September 07, 2013, 12:44:30 PM

Quote from: Deprived on September 07, 2013, 12:34:54 PM

How are you planning to hedge against a heavy fall in the BTC/EUR rate? I'm not aware of any cheap high-volume means to do so (other than converting into fiat which would be rather pointless).

Your plan pretty much relies on BTC rising vs EUR. Whilst I'd tend to agree that long-term that seems likely it's also likely that any such rise won't be a steady one but will have the occasional large bubble + collapse.

If BTC happens to be at the top of a bubble when you launch it could be rather a problem for you. Whilst you may hope your own purchases could extend the bubble you can't really base a whole business plan on hoping BTC doesn't have a collapse shortly after you start taking deposits (if it happens later then it isn't such a big problem - after a while only a total collapse of BTC would be a major issue for you).

It's certainly an interesting business model - borrow money denominated in EUR then bet it all on BTC rising. And rather than paying interest for the loans to speculate with, charge them fees for the privilege.

We shall be operating our own local index based on several determining factors to prevent bubbles having a detrimental effect on our operations, these bubbles will also provide us with the opportunity to strengthen our own position.

How does having your own local index protect against exchange-rate movement?

Customer deposits Euro and wants a Euro-denominated account. You can't use a local index to change how many Euros he deposits.
You then purchase BTC. It doesn't matter what your index says, you have to buy them at market rate from someone selling them.
BTC then crashes vs Euro.
How does your index protect against that?

I can see your own index helping you when people deposit Euros and want a BTC-denominated account, but by your own estimates 98% of accounts will be Euro-denominated. The 2% that are BTC-denominated can't provide useful hedging for the other 98% of customers no matter what your index says.

kingcrimson

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Quote from: Deprived on September 07, 2013, 12:34:54 PM

If BTC happens to be at the top of a bubble when you launch it could be rather a problem for you.

That is my worry, how can they prevent this?

StarenseN

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Quote from: Deprived on September 07, 2013, 12:34:54 PM

How are you planning to hedge against a heavy fall in the BTC/EUR rate? I'm not aware of any cheap high-volume means to do so (other than converting into fiat which would be rather pointless).

Your plan pretty much relies on BTC rising vs EUR. Whilst I'd tend to agree that long-term that seems likely it's also likely that any such rise won't be a steady one but will have the occasional large bubble + collapse.

If BTC happens to be at the top of a bubble when you launch it could be rather a problem for you. Whilst you may hope your own purchases could extend the bubble you can't really base a whole business plan on hoping BTC doesn't have a collapse shortly after you start taking deposits (if it happens later then it isn't such a big problem - after a while only a total collapse of BTC would be a major issue for you).

It's certainly an interesting business model - borrow money denominated in EUR then bet it all on BTC rising. And rather than paying interest for the loans to speculate with, charge them fees for the privilege.

As investor, this is my main concern also. The prospectus is over bullish about BTC Price.

I think it would be safer and wiser for you to talk about a price average like MA100 on Daily charts for example, the rate is at 106.81$. Check it here: blue line > https://www.tradingview.com/x/kO45AAG2/

Don't you ?

cryptocyprus

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Quote from: stenkross on September 07, 2013, 12:37:26 PM

This is fantastic!
I will be keeping my fingers crossed for Danny & co with this venture, although I do not expect the path to be free from bumps...

This could be huge for whole bitcoin community if it works out well!

Thank you stenkross, we have the people capable to iron out any of these bumps when they arise.

floatyfish

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Have you thought of using businesses like Crypto Financial at all to either expand your business or buy/sell bitcoins?

cryptocyprus

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Quote from: Deprived on September 07, 2013, 12:34:54 PM

How are you planning to hedge against a heavy fall in the BTC/EUR rate? I'm not aware of any cheap high-volume means to do so (other than converting into fiat which would be rather pointless).

Your plan pretty much relies on BTC rising vs EUR. Whilst I'd tend to agree that long-term that seems likely it's also likely that any such rise won't be a steady one but will have the occasional large bubble + collapse.

If BTC happens to be at the top of a bubble when you launch it could be rather a problem for you. Whilst you may hope your own purchases could extend the bubble you can't really base a whole business plan on hoping BTC doesn't have a collapse shortly after you start taking deposits (if it happens later then it isn't such a big problem - after a while only a total collapse of BTC would be a major issue for you).

It's certainly an interesting business model - borrow money denominated in EUR then bet it all on BTC rising. And rather than paying interest for the loans to speculate with, charge them fees for the privilege.

We shall be operating our own local index based on several determining factors to prevent bubbles having a detrimental effect on our operations, these bubbles will also provide us with the opportunity to strengthen our own position.

We are providing a way for our customers to utilize aspects of the Bitcoin protocol that meets all of their current desires, to lock funds away from potential future bail-ins. We shall also be providing a way for them to freely access their money both online and in retail outlets, this also opens up electronic payments to many merchants that are only offered high fees and long settlement terms by the traditional merchant account providers. We also have products planned that will provide part of an gains back to the customer.

stenkross

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This is fantastic!
I will be keeping my fingers crossed for Danny & co with this venture, although I do not expect the path to be free from bumps...

This could be huge for whole bitcoin community if it works out well!

Deprived

hero member

Activity: 532

Merit: 500

How are you planning to hedge against a heavy fall in the BTC/EUR rate? I'm not aware of any cheap high-volume means to do so (other than converting into fiat which would be rather pointless).

Your plan pretty much relies on BTC rising vs EUR. Whilst I'd tend to agree that long-term that seems likely it's also likely that any such rise won't be a steady one but will have the occasional large bubble + collapse.

If BTC happens to be at the top of a bubble when you launch it could be rather a problem for you. Whilst you may hope your own purchases could extend the bubble you can't really base a whole business plan on hoping BTC doesn't have a collapse shortly after you start taking deposits (if it happens later then it isn't such a big problem - after a while only a total collapse of BTC would be a major issue for you).

It's certainly an interesting business model - borrow money denominated in EUR then bet it all on BTC rising. And rather than paying interest for the loans to speculate with, charge them fees for the privilege.

btceic

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♫ A wave came crashing like a fist to the jaw ♫

Quote from: StarenseN on September 07, 2013, 12:07:31 PM

Quote from: cryptocyprus on September 07, 2013, 11:54:44 AM

Quote from: floatyfish on September 07, 2013, 11:49:47 AM

This looks fantastic! Definitely will be investing in this.

Thanks, if you have any questions, please do post them and I will answer them as quickly as I can.

Inside the prospectus I read:

Funding Risks
We require 14,097 BTC to get to market: failure to sell the full balance of shares would
result in the sacrifice of the second branch at startup and the implementation of systems that
allow residents of other EU countries to sign up and open an account online. Also, the banks
operating reserves would be reduced.

But when I do the math, you plan to raise :

PreIPVO Offering 500,000 Shares (5.2%) @ 0.0025 BTC each = 1250 BTC
Public Offering 8,000,000 Shares (83,3%) @ 0.003 BTC each = 24 000 BTC

Why so much funds (+25K) raised via the IPO ? I don't get it.

Great idea, however.

The purpose of an IPO is to raise as much funds as possible for the company, not for investors to become rich.

When companies come public on existing exchanges (nasdaq, nyse, amex, etc) and have huge pops on the day of the IPO, are successful for the investors but not for the company coming public.

When this happens it means that the IPO was NOT priced correctly because it left allot of money on the table that could have gone to the company trying to raise funds for itself to grow.

cryptocyprus

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Quote from: kingcrimson on September 07, 2013, 12:03:02 PM

Will they be utilizing Bitcoin ATMs?

We have no immediate plans to utilize the existing Bitcoin ATM hardware that is available, however we will never rule any possibility out for the future.

cryptocyprus

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Quote from: StarenseN on September 07, 2013, 12:07:31 PM

Quote from: cryptocyprus on September 07, 2013, 11:54:44 AM

Quote from: floatyfish on September 07, 2013, 11:49:47 AM

This looks fantastic! Definitely will be investing in this.

Thanks, if you have any questions, please do post them and I will answer them as quickly as I can.

Inside the prospectus I read:

Funding Risks
We require 14,097 BTC to get to market: failure to sell the full balance of shares would
result in the sacrifice of the second branch at startup and the implementation of systems that
allow residents of other EU countries to sign up and open an account online. Also, the banks
operating reserves would be reduced.

But when I do the math, you plan to raise :

PreIPVO Offering 500,000 Shares (5.2%) @ 0.0025 BTC each = 1250 BTC
Public Offering 8,000,000 Shares (83,3%) @ 0.003 BTC each = 24 000 BTC

Why so much funds (+25K) raised via the IPO ? I don't get it.

Great idea, however.

Any additional funds raised over and above our expenditure will be working capital, the more we have in reserve initially, the stronger our position is in relation to additional branches and protecting against falls in the exchange rate of EURBTC. We will also have the added option of opening a third branch in Limassol should the IPVO sell out.

vlaoou321

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reserved

StarenseN

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Quote from: cryptocyprus on September 07, 2013, 11:54:44 AM

Quote from: floatyfish on September 07, 2013, 11:49:47 AM

This looks fantastic! Definitely will be investing in this.

Thanks, if you have any questions, please do post them and I will answer them as quickly as I can.

Inside the prospectus I read:

Funding Risks
We require 14,097 BTC to get to market: failure to sell the full balance of shares would
result in the sacrifice of the second branch at startup and the implementation of systems that
allow residents of other EU countries to sign up and open an account online. Also, the banks
operating reserves would be reduced.

But when I do the math, you plan to raise :

PreIPVO Offering 500,000 Shares (5.2%) @ 0.0025 BTC each = 1250 BTC
Public Offering 8,000,000 Shares (83,3%) @ 0.003 BTC each = 24 000 BTC

Why so much funds (+25K) raised via the IPO ? I don't get it.

Great idea, however.

cryptocyprus

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Merit: 250

Quote from: StarenseN on September 07, 2013, 11:57:30 AM

Quote from: ThickAsThieves on September 07, 2013, 11:18:05 AM

Quote from: pascal257 on September 07, 2013, 11:13:18 AM

This sounds huge

We have been working hours on end to help the LMB Holdings team put this together, and Danny and his team have been putting months of work into this effort. I am posting here to confirm our involvement and role in delivering these assets and this new definition of a public offering.

Can you detail what you're doing ?

TAT Investments are partially responsible for polishing the prospectus, consulting on various aspects, including the IPVO concept and details, negotiating and coordinating with any exchanges involved, and acting a limited transfer agent. TAT Investments is also a partial underwriter and operator for the securities that represent NEOBEE & TAT.NEOBEE

cryptocyprus

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Quote from: btceic on September 07, 2013, 11:57:01 AM

Would you be willing to do an AMA on r/Bitcoin?

Yes I will arrange something for when I have several hours to answer all questions.

hasher87

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Hoping for it to happen in the month of November

kingcrimson

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Will they be utilizing Bitcoin ATMs?

cryptocyprus

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Quote from: floatyfish on September 07, 2013, 11:59:45 AM

Quote from: cryptocyprus on September 07, 2013, 11:54:44 AM

Quote from: floatyfish on September 07, 2013, 11:49:47 AM

This looks fantastic! Definitely will be investing in this.

Thanks, if you have any questions, please do post them and I will answer them as quickly as I can.

I have dedicated this weekend to being online almost 24/7 to answer questions/concerns.
For the next 2 weeks until the Amsterdam conference, I shall be spending every evening online doing the same as my daytime schedule is completely full.

Do you know what symbol this will trade under on the exchanges? Also, you said that the date of trading will be announced soon, do you know if it will be sometime in September/October, or closer to the end of the year?

The symbol will be NEOBEE and it will be within September.

Topic: [IPVO] [Multiple Exchanges] Neo & Bee - LMB Holdings - page 204. (Read 658786 times)