For shares that have traded hands, how does the current owner know where he stands with regards to "longest holders".  I have to assume the shares traded on Havelock are at the bottom of stack since there wouldn't seem to be any way you could possibly track that or know in advance if you are buying a "good" (some chance of being paid out) share or a "bad" (effectively worthless) share. 

If you don't switch to a revenue share model or a more transparent buyback model, I think you should at least update the Havelock investment information to clarify the status of traded shares.