Post
Topic
Board Securities
Re: [BitFunder] IceDrill.ASIC IPO (500 Thash Mining Operation powered by HashFast)
by
rtt
on 30/09/2013, 22:05:05 UTC
0.0016 assumed shares sold higher than 0.0015, which didn't happen. 

I'd expect ukyo to side with the shareholders on this one, given his firmness with the terms of ACTM's IPO.

.0016 didn't assume anything - it's a number.

If they meant that the guarantee would be "The highest price at which shares were sold, subject to a maximum of .0016" then that's what would (or should) have been in the contract.

Yes, .0016 certainly is a number, but not a random one.

The question is whether ukyo will give IceDrill some wiggle room to allow for the imprecise language in the contract.

He probably won't because the fault was IceDrill's but a decent argument may be made that he could or even should.
Why even wiggle?
The 0.0016 / share clause was used to sell shares at IPO prices back then. How can it be taken away now???