GLBSE is based in the UK and is subject to regulation by the Financial Services Authority (FSA), we are in the process of becoming a registered company that meets all conditions to carry on business.
Nefario.
This statement will come back at you.
Did GLBSE ever verify the identity of Pirate40 ?
Your selling these securities and allowing an IPO, like SecondMarket.com, but they are regulated which in essence is verifying people.
Nefario,
I think that you forgot you are the sole issuer and custodian for counterfeit, unregistered securities. I think that would be a problem for you.
The SEC will come down hard on you, 5m is not a small amount of money.
At the end of the day, they need to blame someone for this mess and if they can't find Pirate + they will likely try and shut you do down.
I like GLBSE, and it allows for some great Bitcoin projects to raise money and make awesome products for us.
Is there a backup plan? Has the corporate owner under the Ltd. been contacted yet?
-Charlie