General shareholder contract and IPO information
Labcoin.com aims to raise 7.000 Bitcoin (BTC) through the issue of 7.000.000 shares in the IPO. The shares will be issued at a price of 0.001 BTC per share. The total amount of shares in labcoin.com will be 10.000.000 shares, with labcoin employees, representatives and owners will hold 30% of outstanding shares.
We have asked for verification of the withholding of 30% of the shares.
This doesn't say they will withhold 30%. It says they will hold 30%. Which means at the time of offering. Nothing in this implies that they will continue to hold them.
Now, they've said in a different venue that they will not sell 75% of their holdings, but that's a different thing altogether.
If this is your basis, it's wrong.
Yeah, it was pretty clear at the time that "Holding 30%" meant that when the shares were issued, 30% would go to labcoin staff.
It was later that they said they would lock their shares. They later said they wouldn't sell more then 75%, and then TheSwede said he was working on a solution to lock those shares down.