Quote from: twentyseventy on April 23, 2014, 08:32:47 PM

You're not really valuing this at $7.75 Million on $0.00 sales, are you?

The following can be found within our Prospectus:

DETERMINATION OF OFFERING PRICE

The offering price for the shares in this offering was arbitrarily determined by our management. In determining the initial public offering price of the shares we considered several factors including the following:
-   Our status of business development
-   Our new business structure and operations as well as lack of a significant client base
-   Prevailing market conditions, including the history and prospects for our industry
-   Our future prospects and the experience of our management
-   Our capital structure.

Therefore, the public offering price of the shares does not necessarily bear any relationship to established valuation criteria and may not be indicative of prices that may prevail at any time or from time to time in the private market for the equity shares. While trading of the shares of equity can take place with Counterparty you cannot be sure that a regulated public market for any of our securities will develop and continue or that the securities will ever trade at a price at or higher than the offering price in this offering.

Quote from: mikaeldice on April 24, 2014, 02:26:53 AM

As friendly advice, you really are not covering yourself by not responding publicly. You've already posted the offering and the damage is done.

We appreciate your view on this and agree that the ball is already in play.

Quote from: mikaeldice on April 24, 2014, 02:26:53 AM

Quote from: LiteBit on April 23, 2014, 08:09:28 PM

Listing Fees
We estimate our total costs relating to the registration of the securities offered herein shall be approximately $10,000.

You didn't register the securities. You filed a form claiming an exemption to registration. Also, the fees for an exempt filing are nowhere near that high.

The $10,000 Listing Fee is regarding the 1% fee within Counterwallet to issue shares. We apologize for the confusion. This is explained in more detail within the Prospectus.

You are correctly stating that exempt filing fees are nowhere near that high. Filing a Form D exemption is free once a CIK is obtained.

Quote from: mikaeldice on April 24, 2014, 02:26:53 AM

In your SEC filing, you claimed that the minimum amount accepted from any outside investor is $5,000 USD. Does Counterparty even have a mechanism in place to enforce this? Can it enforce the restriction to sell only to 'accredited investors'?

We can file amendments to this document. The initial filing was filed around 1 month ago in anticipation of this offering and to show our investors the seriousness of our plans for fundraising. Full details had obviously not been worked out. The filing says we had yet to make the offering. Once the offering is complete we will file an amendment stating the date of the final sale, funds raised, funds not raised, minimum amount, etc.

Regarding 'accredited investors': This is really a 2 way street. Investors are responsible for their decisions and Issuers are responsible for theirs. Counterparty does not have a mechanism for limiting amounts investors can invest per asset. Nor does it have a mechanism for restricting sale to individuals based on local, state or federal rules and regulations.

Steps we are taking on our end: (contained within Prospectus)

PLAN OF DISTRIBUTION (exerpt)
If applicable, the shares may not be offered or sold in certain jurisdictions unless they are registered or otherwise comply with the applicable securities laws of such jurisdictions by exemption, qualification or otherwise. We reserve the right to deny and/or buy back equity shares from purchasers not complying with these statutes.

Right to Reject Subscriptions
We have the right to accept or reject subscriptions in whole or in part, for any reason or for no reason. All monies from rejected subscriptions will be returned immediately by us to the subscriber, without interest or deductions.

Quote from: mikaeldice on April 24, 2014, 02:26:53 AM

Also, why are you using beta software as the shareholder ledger for your company?

"Counterparty is built on top of the Bitcoin blockchain and network storing its protocol data in regular Bitcoin transactions." -https://www.counterparty.co/about/

Counterwallet is already a powerful web UI that allows us to sell shares, buy back shares, issue dividends in multiple currencies and more. Essentially giving us the same control as Havelock or eventually CipherTrade. We actually have distributed versions of our Business Plan and Prospectus to both Havelock Investments and CipherTrade the previous 2 weeks. They are the earlier revisions of both documents on http://spark.adeally.com/ respectively. Havelock listing fees are 5% or $50,000 for our offering and Ciphertrade listing fees are 2% for listing and 2% for withdrawal or $40,000. When it came down to it we felt that if there was a new Bitcoin 2.0 interface far enough along, with active support and a bright future we would give it a shot. Why not cut out the middle man and offer our shares on a marketplace that has an amazing potential upside. In fact a number of companies, Rockminer (https://bitcointalk.org/index.php?topic=528464.msg6351120#msg6351120)and Let's Talk Bitcoin (http://ltbcoin.com/ltbcoin-for-new-users), are also using the platform in the same way and for similar reasons.

Quote from: JimmyJazz on April 24, 2014, 08:41:37 AM

Use of Proceeds
We will use the proceeds for general working capital, administrative expenses and for the implementation of our business growth strategy. However, there is no guarantee that we will receive any proceeds in connection with this offering. Huh

This is just a blanket statement stating that even though we are trying to raise funds we may not be able to raise funds for this offering. Sorry for any confusion.

Quote from: sporket on April 24, 2014, 12:16:13 PM

*Misread "social engagement" (wtf is that? a party?) as "social engineering."

This is another word for community involvement or anything socially related. For example:
- Integrating chat functions through Facebook or Twitter within each product auction listing.
- Reward systems involving sharing and posting via social networks

I like that "a party?". That would be great.