Topic: Locked due to trolls - page 3. (Read 11087 times)

Sorry KLYE, but I won't be able to sleep tonight if I don't say something. I really do wish you the best, but you need to be sure to be up front with people before they send you money for a project like this.

Before 'investing' in this IPO please do your DD.  KLYE has a VERY colorful past on this forum.  Begging for btc while claiming to live on the street.  Taking donated btc while gambling on just-dice. The list goes on and on.

The chances of this being a legitimate IPO with a chance of return is somewhere south of .0001%

https://bitcointalksearch.org/topic/m.3222216

You send 1BTC into the IPO, It is added to the other startup funds to be used to purchase equipment and studio space.
Dividends will be payed every sunday and the dividends are paid out according to how much the Studio makes and what % of shares you own.


Cheers!

Kyle.T

Can you explain, in 1 or 2 sentences, simplified, how this works? For example, I send you 1 BTC. What happens?

Absolutely! Talent recruitment has already started.

Any plans to do castings and build up the roster w/ different age ranges and ethnicities?

Hey folks. Have been busy today and not able to access the computer.

I want to apologize for the change in IPO.
I was not aware that dilution was going to place as twentyseven stated.

I do agree that the IPO needs to be written out more clearly, And I will begin working on a re-write.



The original business model left very very little room for startup growth. My hope is that this new revision is good for everyone.
I am willing to talk with all shareholders to get a bearing on what they want to happen.

Just as a follower, if it were me I could live with the small dilution presented if the new offering is at 10X the valuation!  However as per the "contract" some rewording is needed and OP already offered to refund any BTC from investors that invested before the re-wording and want out.  Seems fair to me.

I thought this would get a lot more interest. To be honest I think it's a great idea and I'm saving some more btc to be able to buy more shares.

Not looking at the dilution, hope klye fixes it at some point so that it's equal for both phase 1 and 2, I really think this can take off with the right people involved and the right promotion (and I do trust klye and the people he will be working with to take good care of this project)
MFC sites are hard to work with if you want to become a regular and a "tipper" you have to buy credit for instance. You can't just send them dollars.

This is where btc would have an insane advantage. Seeing as how btc is rising in popularity and news day by day. This could really be a big deal when it explodes.

Also it would introduce new people to bitcoins on a daily basis.

Yup, I see what you mean. A mea culpa by MRKLYE is in order. Although I do believe the 'new' IPO terms are beneficial to all involved, and I believe that a 25BTC initial cap is modest to say the least. Share dilution can't just happen by decree no matter what the deal is. Fortunately we both don't have any vested interest in this. I'd still like to print that quote on a T-shirt though.

Yeah, I don't have any vested interest in this, as I'm not a shareholder. It just struck me that some people weren't realizing that they were having their shares diluted and I wanted to ensure that I made that clear.

I don't blame Klye for wanting to raise additional capital, I just take issue with the fact that he promised not to dilute the shares and then did it just days afterwards. I don't think that there was malicious intent, but it is unfair to current investors in its current state.

Only hoping to improve the IPO terms here, not freak out and scream 'scam scam scam', because nothing causes people to close their ears and minds faster than that.



I thought about suggesting that!  It seemed less elegant that way though, haha.

Or simply 11x current investor's shares instead of 10x :]

Good luck to the winners.

Not true.

Originally, there were to be only 250,000 shares issued at .0001 each. This was supposed to be the maximum amount of shares issued, as explicitly stated by Klye here:

**Citing my sources as I go here, so bear with me on the long comment




This makes a total of 25 BTC of capital to be raised. Therefore, a user that purchased 10,000 shares for 1 BTC (like BitHub) would own 10,000 / 250,000 = 4% of the revenue share.






Even using Klye's own example from the Original IPO post, a user who purchases 25,000 shares out of the 250,000 will own 1.5% of all company revenue. (Revenue share is 15% to the investors; a user owning 25K out of 250K shares is 10% shareholder, 15% * 10% = 1.5%





SO, back to using BitHub as the example here (hope you don't mind, BitHub). BH has just purchased 10,000 shares and now contentedly owns 4% of the revenue share.

Now, Klye comes back and says - "Hey! Actually, I want to raise more money! Everyone from Phase 1 will get 10X the shares and then I'll have Phase 2 where there will be only 250,000 shares!"

Now, assuming that we make it to Phase 2, this means that there will be 2.5 Million shares from Phase 1 and 250K shares from Phase 2 = 2.75 Million shares.




The strikeout emphasis is mine, since it is incorrect.

Now, would BitHub rather own 10,000 / 250,000 shares = 4% of the revenue share?

Or would he rather own 100,000 / 2,750,000 shares = 3.63636363% of the revenue share?

Clearly, any investor would prefer the former. So, there is dilution going on here despite Mr. Klye's initial promise that he would:

A) never sell more shares than 250K and,
B) never dilute the outstanding shares



I've read and re-read the post, but I don't see where I could have miscontrued Klye's confirmation of Mrrr's comment.

If there are going to be 2.75 Million shares and current investors are only getting 10x shares, then they are getting a bad deal, especially since it was promised that there would be no dilution. What Klye should have done is up the Phase 1 offering to 2.25 Million Shares @ .0001 BTC (he'll have to live without that extra 2.5 BTC for now) and still increase investors' shares 10x, while holding the last 250,000 shares for the Phase 2 IPO.

That way, there are still 250,000 shares on hold for Phase 2 and current investors don't see any dilution.

I am on the fence still about using either havelock or Counterparty as one of the forum members have suggested to me earlier today.

Thank you for clarifying this Mrrr. I thought I had this written out more clearly.

From what I read it is a 25BTC initial IPO for 250.000 shares (at 0.0001)
In the event of success a second IPO round will take place for 250BTC/ 250.000 shares (at 0.001)

Since initial shareholder's shares would count 10x, the total amount of shares would then be 2.750.000. So no dilution, but the opposite.

So there will be 2.5 Million Phase 1 shares, then? And 250,000 Phase 2 shares? This means that Phase 1 Investors will have their stake diluted by 10% if I'm reading it correctly.

And how far along are you with Havelock's application process?

Not an investor, just wondering out loud-

I have been getting a lot of PM's and emails asking where the revisions in the IPO reside.

Basically, Instead of this being a 1 phase IPO it is now a 2 phase. This is to allow for growth of the initial startup.
Originally I had planed to distribute 250,000 shares @ 0.0001 BTC for a market cap of 25 BTC.
That would be more than enough to show proof of concept and get things going. But left no room for growth.

The second phase of this IPO will allow for the growth of the established Klyemax Studios. Allowing it expand rapidly.
250000 phase 2 shares will be sold on havelock (or another reputable trade platform) at a price of .001 BTC.

In addition to this, Initial investors shares (phase 1) will be held in as 10x their initial share count as phase 2 shares.

Hopefully this clarifies some questions.
Feel free to PM or email me if you have further questions.

Cheers,

Kyle.T

I have changed some of the business model after speaking with an adviser.
Current shareholders feel free to request a your funds back if you see the new revision as detrimental to your investment.

From this time forward any changes to the IPO or questions can and will be addressed on this thread.

The old business model was restrictive to company growth and had to be altered.
I view this change as not detrimental to initial phase investors, nor did I intend it to be so.

Please feel free to PM me if you have any questions or concerns.

Cheers,

Kyle.T