Quote from: MisterSmith on April 15, 2014, 07:30:07 PM

Quote from: arij on April 15, 2014, 05:00:49 PM

Quote from: Lohoris on April 15, 2014, 09:44:41 AM

Ok, here's my deal.

Shares were valued ~0.0015 BTC each when btct.co closed down, when BTC were valued ~200$.
Now BTCs are ~500$, so it would be fair to expect a price of 0.0006 BTC per share.

Pay that, or you are a scammer, and I'll have a chat with my lawyer in a few days.

Over 50% of public shares have accepted and agreed to our offer. This is including 3/5 of the largest share holders.
We have consulted with a lawyer who specializes in securities prior to making our offer. We are well within our rights to execute this mandatory buy back and at +50%, the majority has already agreed to it. Rg broke his mpex contract/obligations to you guys. I would suggest finding rg and asking him where the proceeds of the sale went.

This is a non-negotiable gesture of good will and we hope you will claim your shares.

I never invested anything with RG.
I invested my money with you, on BTCT.co, under the contract that was written there.
So the price per share limit there makes perfect sense to me.

And you can say it as many times as you want, but "We're taking the thing you bought back for a tiny fraction of what you paid for it" is not a gesture of good will. It's an insult to everyone who invested with you.

Quote

2.2. The Terms of the IPO.

(a) The Directors have elected to divide BitVPS into 1`000`000 (one million) equal non-voting shares with a total equity value of 1`200 BTC (0.0012 BTC each). In the event of liquidation or breach of this Agreement they solemnly promise and warrant to repay all investors holding shares at this minimum value. The Directors through their elected representative solemnly promise and warrant never to issue more shares either on MPEX or any other venue nor in any way to dillute existing shareholders at any point in the future ;

This is the contract I agreed to, and this is the contract you are obligated to uphold.
This is between you and I. I never dealt with RG, and, to be frank, your dealings with him don't matter to me at all. They are not legally relevant.
I want you to pay what was promised. That's 0.0012 BTC per share.
I'm willing to accept the loss--since I did pay more than that for my investment--but if you want to show good will, you will keep the promises you made.

If not, be sure to give out an address where I can contact this lawyer of yours. I'm sure we can come to an arrangement.

The snippet which you provided is RG's contract. This was never on BTCT.

Here are links to our Contract & Prospectus:

1) http://puu.sh/8alXJ.jpg - Here you can see we were listed as a REVENUE SHARE.
Snippet from the Contract section: "Each share is entitled to 1/1,000,000th of BitVPS' profits."

2) http://puu.sh/8alZc.jpg - Here is a snippet from the Executive Summary section (right below the Contract section): "we can't make any promises regarding the past contract"

When BitVPS was on BTCT.co this Contract & Prospectus was publicly available for any investor to see. I suggest you thoroughly read the screen shots which I have provided. You can also use the Internet Archive Wayback Machine to pull up the same information. http://web.archive.org/web/*/btct.co/security/BITVPS - Click June 18th. Once you see the website you will need to view the source.

fixed typo*