IBB Update 7/4/2013
After a lengthy period of forum absence and updates due to the circumstances I've been living through, the work on the Islamic Bank of Bitcoin project has not been neglected, and I have been working on the tasks, development and progress of IBB in as much capacity I had.
I hate to use apologies for work that had to be done but I havent finished it yet, so there is a list of tasks that I have processed while I was in void from January 16th until today.
Quick financial information
Total cash holdings prior 6/4/13 dividend 13.81839712 BTC
IBB sold 11 shares at 0.60 BTC = 6.60 BTC (retained for website development)
13.81839712 - 6.60 = 7.21839712 BTC <> $1,026.34 (profit/income)[24hr 142.1844 Weighted Price]
6/4/13 Dividend = 1.20099723 BTC <> $170.76 BTC
Total cash holdings = 6.01739989 BTC ($855.58)
There will be a dividend of 2BTC paid on April 30th.
Share price
The sale period of remaining 489 public shares has expired.
I have put shares back on the market with a new share price since the bitcoin has gained much in value from the last asked price of 0.6BTC.
Website
As I have promised the last time that I was asked about website, I have finished with it's functionality and layout development the very next day.
What needs to be done though is more relevant and grammatically correct content with information to the general public to give the audience better answers about the Islamic Bank of Bitcoin.
Since I'm not native English speaker, I've sought for help from the users offering content creation services, who have talent and experience in copy-writing, and are native speakers.
For such content, I have contacted and paid the donation to the user psybits for his proofread services, and plan to have more content written for the website.
Since all time frames for finishing the website have been broken many times over due to various reasons the website will be launched as is, and will be updated and changed as we continue progress. There is a lack of quality content and a more appropriate information there but that's going to change.
Web application development
While away from forum, I have been actively seeking for a developer who is capable of comprehending and creating the functionality of the future project web application.
I've received a well thought quote from the developer from the forum, but for the time being, IBB hasn't got enough Bitcoin for the quoted development.
We have left open the possibility of future development, if IBB get's enough funding for his services.
I would as well like to have at least three quotes for the application prior to choosing the one which fits our needs and our budget.
The developer kindly proposed that he would consider to be compensated part in money and part in IBB equity which is a model I would like to propose to any interested future prospects that would apply for web application development.
Better financial reporting
I've sent request for quotes for an accountant to make a proper financial reports in the future.
Loans
5BTC MrG March 18th 2013. - repaid - 0.2btc gratuity
10BTC BIGMERVE - April 5th 2013. - repaid
Asset info
16 BASIC-MINING shares
61 Nasty fan seats
There has been a dispute over IBB stake at one Joint Venture company IBB is involved with. I'm currently seeking a model for best possible dispute resolution or arbitration.
I will let you know more when I have more details.
Thank you.
Danijel Habek
Islamic Bank of Bitcoin