Information under 'details' on BTCT.CO (locked security 'LABCOIN') updated. Questions and comments welcome.
I also have a few questions for the forum:
Q: What would you rather see? 7 million shares @ 0.001 OR 700.000 shares @ 0.01 ?
Q: Is there interest in "Board seat" style offering where for example 250.000 shares would give the owner the right to join 'virtual board meetings' and represent share holders in project management and decision making etc?
Q: We are considering asking Burnside for the option of "direct shares" that could be 'removed' from BTCT.CO and traded outside of the exchange. Is there interest for a independent owner registry of 'Labcoin 100' shares (1 Labcoin 100 share would be equal to 100 Labcoin shares as listed on BTCT.CO) for easier off-exchange trading of larger blocks of shares for larger share holders?
Remember, these are just questions based on suggestions from forum members.
Topic: [LABCOIN] IPO [BTCT.CO] - Details/FAQ and Discussion (ASIC dev/sales/mining) - page 913. (Read 1079974 times)
July 28, 2013, 03:13:17 PM
July 28, 2013, 10:36:59 AM
Thank you for clarifying. Those typos made me to doubt if you are really serious about your project. You don't have typos in your resume, do you? So I suggest you to correct them ASAP. Keep good working!
July 28, 2013, 10:20:12 AM
Just went through a few lines of your stockholder agreement on BTCT.
"The majority of the IPO funds will go towards development, NRE and prodction of the 65 nm chips as this is a more expensive start-up process then 130 nm."
"Keep open bookkeping available to users showing what funds are being invested in projects and how the company intends to spend IPO funds in the coming weeks and months."
Seriously??? Can't you at least find someone to do proof reading before you announce such a huge plan??
"The majority of the IPO funds will go towards development, NRE and prodction of the 65 nm chips as this is a more expensive start-up process then 130 nm."
"Keep open bookkeping available to users showing what funds are being invested in projects and how the company intends to spend IPO funds in the coming weeks and months."
Seriously??? Can't you at least find someone to do proof reading before you announce such a huge plan??
This is the very reason we have this thread open and are not rushing the IPO. What changes would you suggest to clarify the description above (except for grammatical mistakes etc.)
What the above is meant to communicate is that we are planning on being transparent with our share holders in what the funds raised are used for.
I would also like to clarify that the IPO details posted so far is NOT final version and we still have details to add, text changes to be made etc. the final version will be online today and open for voting shortly.
July 28, 2013, 10:16:07 AM
Question:
1. So how much percentage of profits is LabCoin planning to pay as a dividend?
"All shares are entitled to an equal percentage of dividends"
"Pay regular dividends amounting to a percentual share of ownership in the company on a bi-weekly basis."
There is no mention of the percentage of profits but only dividends.
2. To clarify, the shareholders have the ownership of LabCoin without voting right. Is that correct?
Thanks!
1. So how much percentage of profits is LabCoin planning to pay as a dividend?
"All shares are entitled to an equal percentage of dividends"
"Pay regular dividends amounting to a percentual share of ownership in the company on a bi-weekly basis."
There is no mention of the percentage of profits but only dividends.
2. To clarify, the shareholders have the ownership of LabCoin without voting right. Is that correct?
Thanks!
1. This will be clarified shortly but what we are working with is between 30-40% reinvestment fund at least in the short term and 60-70% directly towards dividend paid by-weekly or weekly.
2. We are defining this as well as we speak. We have gotten some requests for the possibility of selling "board seats" (ASICMINER style) where x amount of shares owned by a single share holder would equal a % of voting rights. It is a little complicated since we do not want to make decision making a long and complicated process, while still ensuring that share holders feel secure that we are developing in a direction that the majority is comfortable with.
July 28, 2013, 10:05:01 AM
Just went through a few lines of your stockholder agreement on BTCT.
"The majority of the IPO funds will go towards development, NRE and prodction of the 65 nm chips as this is a more expensive start-up process then 130 nm."
"Keep open bookkeping available to users showing what funds are being invested in projects and how the company intends to spend IPO funds in the coming weeks and months."
Seriously??? Can't you at least find someone to do proof reading before you announce such a huge plan??
"The majority of the IPO funds will go towards development, NRE and prodction of the 65 nm chips as this is a more expensive start-up process then 130 nm."
"Keep open bookkeping available to users showing what funds are being invested in projects and how the company intends to spend IPO funds in the coming weeks and months."
Seriously??? Can't you at least find someone to do proof reading before you announce such a huge plan??
July 28, 2013, 09:46:00 AM
And if shareholders do have some sort of vote, 4m shares = successful IPO but you can then issue up to 6m more shares without shareholder input?
Sorry if there is any confusion. What this means is that if the IPO seeks AT LEAST 4 million shares within 30-days we will consider it a success (as this will cover the basic needs for generation 1 miners/chip production etc.)
The total amount of shares will Always be 10 million, no more or less.
3 million shares are owned by management, founders etc.
A total of 7 million are offered in the IPO and will be sold at 0.001 per share.
The only reason for the 4 million share "success" clause is that if we do not raise at least 4k BTC we will cancel the IPO and return the funds.
Does this make sense?
We will also NOT undersell the IPO price. Meaning that we will never place shares on the market under 0.001. We will also make sure to place the entire 7 million shares as one block in the IPO, and avoid the possibility of a portion selling out, price going up and us dropping the "market price" by floating more shares.
July 28, 2013, 09:40:23 AM
Quote
Labcoin.com aims to raise 7.000 Bitcoin (BTC) through the issue of 7.000.000 shares in the IPO. The shares will be issued at a price of 0.0001 BTC per share.
7.000.000*0.0001=7000? 
Something is wrong,I guess.
You are 100% correct. An extra zero found its way in. The share price is 0.001.
July 28, 2013, 08:22:10 AM
And if shareholders do have some sort of vote, 4m shares = successful IPO but you can then issue up to 6m more shares without shareholder input?
July 28, 2013, 07:49:00 AM
Question:
1. So how much percentage of profits is LabCoin planning to pay as a dividend?
"All shares are entitled to an equal percentage of dividends"
"Pay regular dividends amounting to a percentual share of ownership in the company on a bi-weekly basis."
There is no mention of the percentage of profits but only dividends.
2. To clarify, the shareholders have the ownership of LabCoin without voting right. Is that correct?
Thanks!
1. So how much percentage of profits is LabCoin planning to pay as a dividend?
"All shares are entitled to an equal percentage of dividends"
"Pay regular dividends amounting to a percentual share of ownership in the company on a bi-weekly basis."
There is no mention of the percentage of profits but only dividends.
2. To clarify, the shareholders have the ownership of LabCoin without voting right. Is that correct?
Thanks!
July 28, 2013, 02:31:09 AM
Awww, good luck to IPO! Hope to see a solid business plan and a reasonable price soon!
July 28, 2013, 01:54:40 AM
Watching.
July 28, 2013, 01:52:00 AM
This certainly helps building up hype.
July 28, 2013, 01:41:29 AM
Reserved!
July 28, 2013, 01:07:31 AM
Quote
Labcoin.com aims to raise 7.000 Bitcoin (BTC) through the issue of 7.000.000 shares in the IPO. The shares will be issued at a price of 0.0001 BTC per share.
7.000.000*0.0001=7000? Something is wrong,I guess.
July 28, 2013, 12:34:43 AM
Nice! A new IPO 
Looking forward to details!
Looking forward to details!Details up on BTC-TC under locked securities.
There is some information missing from the details yet though. As soon as these are added (tomorrow morning), I will post a compact version here and open for questions etc.
July 28, 2013, 12:06:12 AM
Nice! A new IPO Looking forward to details!
Looking forward to details!Details up on BTC-TC under locked securities.
July 27, 2013, 12:29:47 PM
Nice! A new IPO Looking forward to details!
Looking forward to details! July 27, 2013, 12:11:10 PM
Can't wait for this to IPO. Please post details ASAP.
July 27, 2013, 12:11:04 PM
Reserved
July 27, 2013, 11:56:00 AM
I told you so.
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