Quote from: almwaysa on October 18, 2013, 11:32:38 PM

Just wondering about this part of the contract

Quote

Should management be unable or unwilling to continue operations of bASIC-MINING,
a suitable replacement, designated by management, will be sought out. If none
can be found all outstanding shares of bASIC-MINING will be bought back at a
price no less than 105% of the 7d Avg price, all assets held by bASIC-MINING
will be liquidated, and the proceeds distributed to shareholders.

Now with the btct closing shares are worth less than %10 or even %5 of what they used to be. What I am wondering is that does the buyback comes first or the liquidation? because if the buyback then the owner has all the shares therefore distributing the money from sold equipment to himself.
I am sorry I know this might be a stupid question. but I want to be sure.

Also another thing:

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Should management be unable or unwilling to continue operations of bASIC-MINING,
a suitable replacement, designated by management, will be sought out.

Maybe creativex is in the process of finding another manager for basic-mining, and logging in daily to bitcointalk is to negotiate with some people through PMs to take over the establishment? It sounds like a reasonable guess no?

Since there is no exchange for bASIC-mining to trade right now, the shares have no 7d average price. I don't believe the company ever intended to use that buy back clause. It would have made it harder for management to be unwilling to continue however as the company never had 105% of the 7d average in reserve and maybe that was the point of that particular clause. A simple liquidation of assets with the proceeds being dispersed to shareholders would be the only logical course of action if it is deemed management is unable to continue.

I don't know that Creativex has logged in but your guess seems to be the most reasonable I have seen!

Take care