Quote from: zapeta on October 02, 2014, 10:36:08 AM

Quote from: seedcoin on October 02, 2014, 05:48:58 AM

Quote from: zapeta on October 01, 2014, 09:59:44 PM

If the offer is made, and participating in the buyback is voluntary, I don't see that as an issue. I agree that a lot of people probably got in to the fund without any idea of how long it might take to pay back, and this would give those investors an out.

That seems quite a reasonable statement for someone who downgraded our Trust rating here by posting that:
"Seedcoin scammed users out of at least 1100 BTC. Offered 2 million shares at 0.001 BTC each (2000 BTC total) and then tried to buy them back for .00045 BTC each (900 BTC total), pocketing the rest."

I would be interested to read your explanation about where Seeedcoin has been 'pocketing' the rest since funds which have been raised have been paid out to the startups as planned and along a calendar of drawdowns agreed with both the entrepreneurs and Havelock. If we offered investors BTC0.00045 per unit we would be buying these with new funds raised from private investors and completely unrelated to the SF1 fund raising. That would not be a 'pocketing' but a fresh outlay of bitcoins.

My guess at your reason for offering the buyback was a reasonable assumption given the information we had about the motivation for the buyback offer (no reason given) and where the money would come from (no info before, but you've explained above).

In any case, you haven't even confirmed or denied that the buyback would be voluntary if offered and not forced, and you've twice dodged my questions about the motivation for a buyback offer. By your admission you've raised new funds from private investors. Has someone come along and offered to buy out SF1? What are the terms? This would be something that would affect the decisions made by SF1 investors.

Even if this isn't a deliberate scam or attempt to defraud your investors, your lack of answers makes me feel like Seedcoin is not acting in good faith. Simply answering a couple questions, rather than attacking the people who may have invested, would go a long way to clearing that up.

I also would like a straight answer as well. All the info implies that it's just and offer willing to be accepted our not. Even the second question is asking if you want to convert to holdings in SHL which is the holding company of all equity stakes. Per the prospectus your SF1 shares already are your stake in SHL however it seems a conversion to SHL more or less legitimizes your investment in paper compared to just being on a site like Havelock.

However the possibility still remains of allowing larger holders to convert to SHL holding then forcing a buyback and removing the listing from Havelock. I'd rather convert to SHL then be forced to buy back but would feel sorry for anyone below the limit to do so or is not eligible to do so.