Entering the final stages finally for the SEC registration AND the 3rd party audit/accounting firm.
Spent the last 2hrs balancing our books and everything looks pretty good on my part, there's a few errors to correct but nothing overly major. Hopefully from August on, the accounting firm will be releasing the financial performance information along with our internal data so it all can be reconciled.
Spent the last 2hrs balancing our books and everything looks pretty good on my part, there's a few errors to correct but nothing overly major. Hopefully from August on, the accounting firm will be releasing the financial performance information along with our internal data so it all can be reconciled.
Great update Branny! How much of a hit will the project finances take from going through all the legal hoops? Are there recurring costs?
Recurring costs will be in the order of a few thousand dollars per year. One-time cost is <$10,000
It isn't something i WANT us to pay for, but with the SEC filings we stand a great chance of attracting VC.
Hmm what about other sources such as BTCjam? Borrowers like MAC on there regularly pull in 300+ BTC loans at floor-level interest rates. The group that runs the site is a relatively friendly bunch too, and after a year and a half using the site, I know the community is always eager for trustworthy borrowers.
Edit: Plus if you pegged it to the BitstampUSD price, you could hedge against price fluctuation in the bitcoin price, parrying the loan against dividends to provide a two-way cash flow.
And as always, just throwing out thoughts, Capt'n.
I need someone to help me walk through it, if it's possible to tie to USD prices I'd loooove to do it as long as rates are semi-reasonable.
It's quite easy once you go through the whole verification process of BTCJam. They will want to see your Facebook, LinkedIn, ebay, etc accounts to verify your identity and some proof of income, and after all that is done (it will take about a week) I (and probably many other investors) will be glad to throw in a positive reference on the site to further increase your credit rating. One you have an A/A+ rating, it will be relatively easy to access a good loan.
What's going to be the best way to get connected to investors who are on btcjam? It only allows for facebook references, I can't do a email dump or linkedin dump for that matter.
To kick it off, you could send out an announcement to shareholders via Havelock with a request for references/Facebook profiles. Any who are on BTCjam will probably already have their profiles linked.
Yes that's probably the best way to get started. I didn't realize we needed to be connected on Facebook to leave a reference (directly through BTCJam it's only possible to leave ratings to people with whom you made a transaction); but I guess it's no big deal to get befriended and then request a reference.
