Quote from: EskimoBob on August 27, 2012, 01:30:23 PM

Quote from: freeAgent on August 27, 2012, 12:38:24 PM

It's already specified that the shares offered in this IPO have no voting rights. Even if the shares had voting rights, evoorhees is only offering 10% of the company ownership to the public, so it wouldn't matter either way. All you're buying with these shares is a non-guaranteed revenue stream.

You are correct. 10% vote can never win 90% and this was pointless clause.
I guess those shares offered are not the same shares what Evoorhees owns at the moment. In this case, are those a new issue of stock and issued by SD for the IPO.
Can someone clear this up a bit?

Bob - The whole thing seems more of a gentleman's agreement than something solid from the investor's POV. From the seller's POV it's a sweet deal for sure.

Which IMO means another 50% discount should be demanded.

Quite why anyone would be happy with the terms, given what their legal and contractual exposure, and expected returns might be, (and post a 20 BTC arrogance tax!), is surprising indeed. I may be missing something though....

The proof is in the pudding and I look forward to its baking. A bit of sugar might be nice Tongue