Here are some thoughts on how the company could work.

• Once you have joined the company you no longer own shares in an individual machine. Instead you own shares in a pool of machines. This means that your income is not dependant upon a single machine but it also means that if any machine breaks down your income will decrease.
• A percentage of generated BTC is kept back so as to provide funds for emergencies. This should be capped based upon the total value of the companies assets.
• Broken machines are repaired (or replaced) from the emergency fund. Without this the Gh/s of each share will decrease over time.
• Shareholders may sell or transfer any number of their own shares without the permission of any other shareholder.
• A publicly available list of all shares and the bitcoin address distributions are made to should be maintained. This would allow 3rd parties to verify you own any shares you are selling and to verify that you have transferred the shares.
• Any share transfer is the sole responsibility of the individuals involved and not the company.
• New shares are only issued for new machines (not replacement or second hand machines) and the number of shares issued is based upon the hash rate of the machine. This will allow bigger and faster machines to join the company at a later date.
• Shares are issued at the rate of one share for every 100/429 Gh/s. This would mean that 1 share in a Saturn would get you 11 shares in the company and 1 share in a Jupiter would get you 12 shares in the company.
• When a new machine first arrives all bitcoins (less costs) generated by that machine are distributed to the machine owners until the first bitcoin payout date. At that point new shares are issued for the machine and the new machine starts generating bitcoins for all the shareholders. For example, if bitcoins are paid to shareholders every Sunday at midnight and a new machine arrives on Wednesday then the owners of the new machine get the bitcoins generated up to midnight Sunday. After that, the owners get shares and generated bitcoins go into the pool.
• The company can use its own funds to purchase new (as opposed to replacement) machines and thus increase the hash rate per share.
• In any company vote it is one vote per share and not one vote per person.