Post
Topic
Board Securities
Re: [LABCOIN] IPO [BTCT.CO] - Details/FAQ and Discussion (ASIC dev/sales/mining)
by
Ytterbium
on 22/09/2013, 17:05:30 UTC
wont take long before labcoin shows BTC address and that they are still holding shares...

https://blockchain.info/address/17psAW21J4twanAFWmbcd5WdX2pKeX3trm

that's the address.

I was referring to "WARNING -- This asset has been flagged for potential violation of their Stockholder Agreement. Please place your orders accordingly."

I wasn't able to trade unless I provided a BTC address and that does not mean labcoin members cant sell shares but they did say they wouldn't till 1 year, so far too much FUD.

But transparency is what is needed for Labcoin to be a success

They said they wouldn't sell more then 25% of the 30% of the shares they owned.  So in other words they promised to hold 30*0.75 = 22.5% of the shares.

Amazingly, burnside didn't realize this when he wrote his warning and post, and thought they were supposed to hold 30%, and not sell any at all (only make money through dividends) Even though the news about not selling 75% of their shares was posted as a news item on BTCT.co.