Quote from: Korbman on November 21, 2013, 10:54:45 PM

Quote from: norman on November 21, 2013, 10:29:21 PM

Uut of curiosity, why did you decide to do repurchasing the way you are doing it rather than repurchasing at discount from the open exchange orders? Wouldn't everyone benefit most by clearing the maximum number of outstanding shares possible? Why take N shares off the market when you can take 3N or 4N shares off the market providing increase value to everyone?

I'm not complaining. I'm just curious what the thinking is.

It's a good question, and one I often rethink since there are quite a few ways that repurchasing can happen.

As everyone knows, the original set of contracts had to be voided in order to completely overhaul the way the repurchasing occurred (otherwise insolvency would have ensued)...but I truly wanted to keep to some semblance to what I had originally thought out. Add in the fact that most people purchased during the 2012 IPO at BTC1.0 and it made sense to try and stay above that. That's where the notion to buyback at the "minimum" of BTC1.005 per Note came into play.

But is BTC1.005 a good number to work with? I'm not entirely sure. It certainly has its benefits for those who are seeing some of their Notes bought back every 2 weeks. If I switch to a repayment of BTC0.5, I'll then be able to buy back twice the amount during that same period...but I'd wager that investors wouldn't be happy with that decision since the majority bought in at BTC1.0, even if it meant more people saw the benefits.

I've been trying to strike a balance between keeping to my word and being practical, though it's certainly easier said than done. I'm more than happy to look into another method if someone has an idea, just let me know.

Does that help?

Keep to your plan Korbman. Those of us who have been with you the longest and have the most invested deserve priority on the buybacks. This is not a lottery. You offered bonds and we appreciate your attempts to be equitable in making you investors whole. If you start buying on the market you are rewarding those who came in late, at a discount who are trying to flip their shares. If whoever bought 4 at .001 sold today at .34 to an uniformed investor - god bless. But if it was you, that sucks for rest of us.

All the rest of you, read the previous posts. This has all come up before.