Quote from: seedcoin on October 01, 2014, 06:32:34 PM

SF1 unit price has been lower than 50% of the unit price at the time of the offering (or under BTC0.0005) for the past four months and below BTC0.003 for the past 3 months, last price was BTC0.00015 so BTC0.00045 represents 3 times the latest price (this is also mentioned in the consultation poll announcement).

Not all SF1 unit holders have been holding SF1 units since the offering time, some transactions have been registered below BTC0.0001 per unit so for some unit holders getting BTC0.00045 per unit is a very good deal.

There are legal limitations to the number of shareholders and there is a cost for processing each shareholder's application, hence the minimum threshold to convert units into shares. However, trading will resume as of October 8th 12 noon time EST, anyone with an insufficient amount of units may buy more then.

If, following the results of the poll, we decided to make an offer, we will motivate it in more details then. It is just a consultation for now.

The fact that your buyback offer is 3x the current price doesn't change the fact that it's less than 50% of the IPO price. The reason why it's so low? Lack of communication and lack of results, which is on you. You don't get to pat yourself on the back for losing 55% of shareholder value. The fact that some people bought at 0.0001 per unit and will make a pretty decent return isn't relevant to the people who you should care about, those who took a chance on the IPO.

Further, by your own contract, the only case that would warrant a buyback would be: "In case of the acquisition or liquidation or any other major event affecting the shareholder structure of SFI, SFI shall reserve the right to close the listing following a public notice 30 days prior to closure, but in certain circumstances (including but not limited to the death or disability of the director), notice may not be provided in this fashion. Closure may be effected via a buyback of all outstanding shares. "

So, is there an acquisition, liquidation, or major event? If so, what is it? Those would be the only cases that could initiate a buyback. Obviously any of these could affect the future value of SF1, which would help shareholders decide if they should accept the offer, if one is made.