So, we've been holding off on this announcement, but I think we're at a place where we can tell everyone.
We've just signed a $375,000 agreement for 7.5% of the company equity. There's still some paperwork to sign, but we should have the cash by the end of July. Which means we're also about to be hiring one or two full time employees. We need someone who will build the frontend, and will preferably work and live in Boston. We might be able to pick up an MIT graduate. I've got a really good feeling as a whole about our investor, he's had several hit investments and is really interested in seeing Sia succeed.
Another thing that's in progress is that we're going to be involved with the MIT Bitcoin project. We haven't met anyone in person yet but we should be meeting with the guys leading the initiative in the next few weeks.
So, on the business front things are looking good.
Can you check my maths?
A $375,000 investment for 7.5% equity values Sia at $5million.
The 1500 Sianotes being sold on Nxt Asset Exchange represent 15% of the company? So the AE market cap at that valuation should be $750,000.
Sianote is currently valued at 4200 NXT * 1500 = 6.3 million NXT = $318,623.
So Sianote is currently selling at 42% its fair value. So.... panic buy?
Let me tell u guys,the ultimate Cruel truth is that totally
10000 Sianote just represent 3.9% host income from renting storage.One Sianote can be directly converted to 0.00039% host income from renting storage.
The other is nothing.No represent the company.No represent the siacoin.No represent anything.The Below can prove it.
"One Sianote can be directly converted to 0.00039% of host income from renting storage, or 10,000 for 3.9% of all host income from storage. Currently, there are approximately 1250 sianotes in circulation, or just under 0.5%."
Hi Taek,
I have a question about IPO,This time 15% IPO means 15% siacoins or 15% siastock or total project 15%(siacoins+siastock)?
Waiting for your reply,thanks.
The pre-IPO is just for siastock. No siacoins are involved, except that siastock provides an income in siacoins as explained by the economic model.
We're thinking 3.9%. If we took too much, then hosts wouldn't be inclined to be on our network, which would be bad for the entire network.
The Siastock would be owned by Nebulous Incorporated, which is a company and not two individuals. That's an important distinction. We are looking for large volumes of income, initially on the order of millions of dollars but we would like to see Nebulous become a Google or Microsoft sized company. At that point most of the revenue would be coming from sources other than Siastock, of course.
Siastocks will never turn into Nebulous stocks. There are legal barriers to doing that.
It's very difficult to crowd fund corporate equity, and it's strongly recommended against by every lawyer I've talked to so far. You can crowd fund a product (like through Kickstarter), but as soon as you are selling equity to a bunch of little investors you've got legal problems.
So wake up guys,Sia project is amazing,but sianote is just a joke.What a pitiful ROI,that's why I ignore it.