Topic: Selling 17500 shares of GLBSE (actual shares) - page 5. (Read 14999 times)

My point is that just because a large gain was made, and the investor is looking to exit the position, it doesn't mean it can rightly be called a "pump and dump."  People throw that term around too loosely.

What about this:  https://bitcointalksearch.org/topic/got-off-the-phone-with-the-guy-from-the-sec-112438

Glbse has counter party risk. Bitcoin doesn't. So what was your point again? lol

The original price of something is pretty much irrelevant. The only thing that matters is whether his price is fair TODAY.  Just on a surface level, owning a quarter of GLBSE for ~$65k sounds absolutely reasonable.  And Theymos should be praised for his wisdom in acquiring an asset that appreciated 1200%, not vilified.

Let's remember that BTC itself appreciated 1,700% in 2011 (even after the crash)... so if GLBSE shares are a "pump and dump" because they appreciated so much and Theymos wants to sell, then BTC must be even more a pump and dump, no?

We agree to disagree. I prefer to hold bitcoins than shares of GLBSE.

Why do you think he is selling? He is accepting BTC for payment it looks like.

Have at it USAGI.

I can't publicly release any info about revenue, profit, or dividend payments. I understand that you would like to see detailed financial info, and I believe this will be possible (after you sign a NDA) within the next few days.

Equivalent of a pump and dump.

You expect at least 600% returns? Not including the fact that bitcoin price has at least doubled since you bought. So that would amount of at least 1200%.

Do the math guys. IMO a total rip off on the minimum price.

I have no plans to do this.

theymos, will you be building your own stock exchange? thanks.

Each share was originally priced at 0.05 BTC.


I can't release such info.

theymos , as a insider, your selling share is not a good signal. the shareholder can easily hide his identity by register an off-shore company and transfer his share to that offshore company, whose shareholder name is confidential and the GLBSE can only see the off-shore company as its shareholder. have you ever considered about this?

Seems pretty pricey. What'd you buy them at?

Your lowest price is 5250 BTC or $63,000?

Dang...too rich for my blood.

They do, though not on any fixed schedule.

Do these shares currently produce dividends? I do not want the amount, just simple yes or no.

I am selling 17500 shares of BitcoinGlobal, the owner of GLBSE. There are currently 77500 total GLBSE shares, so this represents a 23% share in GLBSE.

My reason for selling:

Some big legitimate Bitcoin businesses have expressed interest in listing on GLBSE, but they can't do so because GLBSE might be illegal. Nefario would like to change this by making GLBSE a legal company and following all relevant regulations. This could potentially increase profits, but I don't like the idea of abandoning small and "dubious" businesses, I don't like lawyers and regulations getting in the way of business, and I certainly don't want to be officially/legally listed as a shareholder (and especially not treasurer).

Here are the bylaws:
http://theymos.com/bylaws.pdf

- In order to buy the shares, you must be approved by half of the current shareholders. I don't foresee this being difficult for most people. You don't need to be well-known in the community or anything.
- The shareholders do not want to bring in too many other shareholders. They will probably not approve a transfer of less than ~500 shares, so offers to buy fewer than 500 shares will probably not be accepted.
- Nefario wants GLBSE to move toward becoming a legitimate corporation. You must agree to be legally and publicly listed by name as a shareholder/partner/whatever in legal documents if this becomes required in the future.
- Shareholders have an above-average level of involvement in management. There are regular meetings on IRC.
- Financials are private. Within the next few days, there may be a way for you to view financial data if you sign a NDA.
- Nefario would like to restructure the company and possibly create more shares. It is unlikely that he will be able to legally do this without the 23% of shares sold here (66% is required to change the bylaws), so you will have a say in how this turns out.

I will not sell shares at a price below 0.3 BTC per share, and I expect the final selling price to be much higher. PM me your offers. I can answer some questions here, but some info is confidential.