Quote from: arij on April 11, 2014, 03:38:51 PM

According to RG's original contract, at the time of sale, he was supposed to share the proceeds with the investors. We purchased the entirety of BitVPS for 100 BTC. This included simply a domain name, a handful of customers, and rental contracts for servers which were a huge burden as the company was not profitable at the time (BitVPS owned no assets at this time). RG failed to share the BTC he acquired from us, with the investors. At this point we had no obligation to continue supporting the investors.

On top of this, RG was in breach of his own contract for various reasons. BitVPS was de-listed from MPEX as a result. It is outlined in his contract what should be done, by him, in the case of his contract being breached.

We decided to keep paying out dividends while neglecting the fact that we had no real obligation to do so. We are trying to close this chapter in BitVPS's life in a way where we wont go bankrupt. I understand while this may not seem ideal for all, it is what BitVPS can realistically afford while basing the buyout on numbers from our recent financial statements.

We currently have ~$4,500 in the bank. Most of the money for the buyout was going to come straight out of my pocket. BitVPS is already in debt to me for over $8,000 which I decided to just forget about and start with a clean slate. As mentioned earlier there were two options we felt we had. One being this buyout, and the second option being to declare bankruptcy. As much as we wish we could pay 0.0012 BTC per share, it is literally not possible. This amount, unfortunately, would put us directly into bankruptcy. I shouldn't need to explain where bankruptcy would lead us.

To answer some of the other questions:
-0.025 * 1,000,000 = 25,000 (not 2,500!)
-We will grant a three day grace period (on top of the original 5 business days) to claim your shares. Final day for claiming your shares will be 4/18/2014 (typo, edited the date). We will process claims made after this date only under certain circumstances.
-If you need to find out the BTC address associated with your account just send us an email. As long as you email us within the 5 (8 days including grace period) day time frame, you will not be disqualified.

I hope this answers some of your questions. If you have any further questions (and comments or suggestions) please ask. You will get a much faster response if you are able to msg me on freenode (nick: arij).

Okey thanks for explaining things, basically you bought part of the old company but not it's liability then and most of the problems for BitVPS seems to have happened before you bought it and the fact that btcprice went up a lot the last year probably hasn't made the numbers in btc look any better for the company i guess. The current situation in USA according to how they interpret stocks and similar things not denominated in usd probably haven't made things better either.