sharetrader
Page 2 of 3 FirstFirst 123 LastLast
Results 11 to 20 of 21
  1. #11
    Guru
    Join Date
    Jul 2004
    Location
    Bolivia.
    Posts
    4,818

    Default

    Quote Originally Posted by Tony Two Gloves View Post
    I wonder if this answers our queries?

    NOTE 8: SHARE CAPITALThe Company has 97,000,000 Class A shares on offer of which 590,127 (2020: 185,880)have been issued and 3,000,000 Class B Shares that have been issued to the foundingshareholders. Both Class A & Class B shares have no par value.
    NOTE 8: SHARE CAPITALThe Company has 97,000,000 Class A shares on offer of which 590,127 (2020: 185,880)have been issued and 3,000,000 Class B Shares that have been issued to the foundingshareholders. Both Class A & Class B shares have no par value.
    Info been looking at from the companies register: Shareholdings (companiesoffice.govt.nz) So I'm guessing the A class shares are being dribbled out as new investors buy in?

    The Class A/B shares ties in with their constitution:

    2.4 Rights attaching to Class A Shares and Class B Shares Unless otherwise provided by the terms of issue or by this Constitution:

    (a) The Class A Shares confer on the holder each of the following rights:P a g e 5 | 34
    (i) holders of Class A Shares are entitled to 97% of the total voting rights of all Shareholders in proportion to their Shareholding
    (ii) Subject to clause 4 of this Constitution, holders of Class A Shares are entitled to not less than 97% of all Dividends authorised by the Board, to be distributed to the holders of Class A Shares in proportion to their Shareholding;
    (iii) Upon the liquidation of the Company not less than 97% of the Surplus Assets shall be distributed to the holders of Class A Shares in proportion to their Shareholding.
    (b) The Class B Shares confer on the holder each of the following rights:
    (i) holders of Class B Shares are entitled to 3% of the total voting rights of all Shareholders in proportion to their Shareholding;
    (ii) Subject to clause 4 of this Constitution, holders of Class B Shares are entitled to not less than 3% of all Dividends authorised by the Board, to be distributed to the holders of Class A Shares in proportion to their Shareholding;
    (iii) Upon the liquidation of the Company not less than 3% of the Surplus Assets must be distributed to the holders of Class B Shares in proportion to their Shareholding.


    My main query is how they value themselves at $3.99.

    As an aside, NBR article behind the paywall: One-of-a-kind crypto offer fails to take off | NBR

  2. #12
    Member Tony Two Gloves's Avatar
    Join Date
    Feb 2011
    Location
    Auckland
    Posts
    301

    Default

    Quote Originally Posted by Sideshow Bob View Post
    Info been looking at from the companies register: Shareholdings (companiesoffice.govt.nz) So I'm guessing the A class shares are being dribbled out as new investors buy in?

    The Class A/B shares ties in with their constitution:

    2.4 Rights attaching to Class A Shares and Class B Shares Unless otherwise provided by the terms of issue or by this Constitution:

    (a) The Class A Shares confer on the holder each of the following rights:P a g e 5 | 34
    (i) holders of Class A Shares are entitled to 97% of the total voting rights of all Shareholders in proportion to their Shareholding
    (ii) Subject to clause 4 of this Constitution, holders of Class A Shares are entitled to not less than 97% of all Dividends authorised by the Board, to be distributed to the holders of Class A Shares in proportion to their Shareholding;
    (iii) Upon the liquidation of the Company not less than 97% of the Surplus Assets shall be distributed to the holders of Class A Shares in proportion to their Shareholding.
    (b) The Class B Shares confer on the holder each of the following rights:
    (i) holders of Class B Shares are entitled to 3% of the total voting rights of all Shareholders in proportion to their Shareholding;
    (ii) Subject to clause 4 of this Constitution, holders of Class B Shares are entitled to not less than 3% of all Dividends authorised by the Board, to be distributed to the holders of Class A Shares in proportion to their Shareholding;
    (iii) Upon the liquidation of the Company not less than 3% of the Surplus Assets must be distributed to the holders of Class B Shares in proportion to their Shareholding.


    My main query is how they value themselves at $3.99.

    As an aside, NBR article behind the paywall: One-of-a-kind crypto offer fails to take off | NBR
    Would it be if they had Crypto valued at $3.5M as at 31/3 divide by the 590,000 shares would equate to $5.93 which I believe was there SP around that date. Some of the coins they have are down around 50% from there highs so the SP at $3.99 would their Crypto value now be $2.3M? I really have no idea but the Company needs to clarify if they want to get some shares trading.
    Last edited by Tony Two Gloves; 15-06-2021 at 08:20 AM.

  3. #13
    Advanced Member Entrep's Avatar
    Join Date
    Mar 2008
    Posts
    1,858

    Default

    Their strategy seems very, very basic. Why not just buy BTC and ETH and hold it yourself? You are giving up a lot for exposure to crypto this way. Liquidity, control and security chiefly.
    BTC went to $69K and now $16K. Good thing I’ve been warning you since it was $3K! I was right!

  4. #14
    Member Tony Two Gloves's Avatar
    Join Date
    Feb 2011
    Location
    Auckland
    Posts
    301

    Default

    Quote Originally Posted by Entrep View Post
    Their strategy seems very, very basic. Why not just buy BTC and ETH and hold it yourself? You are giving up a lot for exposure to crypto this way. Liquidity, control and security chiefly.
    Tend to agree not to mention the interest earnt by staking various coins. They seem to want to play on the fact that it is quite difficult to set up but in reality it is very simple and you won't lose anything o management fees etc.

  5. #15
    Advanced Member Entrep's Avatar
    Join Date
    Mar 2008
    Posts
    1,858

    Default

    It's extremely simple and secure. You are far worse off in this investment IMO.

    I could literally start the exact same fund tomorrow. What's the point or advantage to investors?

    Liquidity, control and security.
    BTC went to $69K and now $16K. Good thing I’ve been warning you since it was $3K! I was right!

  6. #16
    Advanced Member Entrep's Avatar
    Join Date
    Mar 2008
    Posts
    1,858

    Default

    It's extremely simple and secure. You are far worse off in this investment IMO.

    I could literally start the exact same fund tomorrow. What's the point or advantage to investors?

    Liquidity, control and security.
    BTC went to $69K and now $16K. Good thing I’ve been warning you since it was $3K! I was right!

  7. #17
    Guru
    Join Date
    Jul 2004
    Location
    Bolivia.
    Posts
    4,818

    Default

    Quote Originally Posted by Tony Two Gloves View Post
    Would it be if they had Crypto valued at $3.5M as at 31/3 divide by the 590,000 shares would equate to $5.93 which I believe was there SP around that date. Some of the coins they have are down around 50% from there highs so the SP at $3.99 would their Crypto value now be $2.3M? I really have no idea but the Company needs to clarify if they want to get some shares trading.
    Yes, could be the answer.

    But from the looks of it, no real difference between the Class A & B shares though......

  8. #18
    Legend
    Join Date
    Dec 2009
    Location
    Everywhere
    Posts
    6,886

    Default

    Interesting what is classed as "Comprehensive Income" & presentation
    with gains on the Crypto..

    Going to be some interesting times ahead If the Taxman decides crypto
    is to be considered like normal fiat currencies ..



    Similarly Crypto's designation in the 2021 Accounts as an Intangible Assets too ..

  9. #19
    Legend
    Join Date
    Dec 2009
    Location
    Everywhere
    Posts
    6,886

    Default

    Quote Originally Posted by Sideshow Bob View Post
    Yes, could be the answer.

    But from the looks of it, no real difference between the Class A & B shares though......

    The shares between A & B shares appear to be linked to 100 million shares - 3.0 mil issued "B"
    and the rest 97.0 mil issued & unissued 'A's'.

    As more than the 590,127 A's are issued of the 97.0 mil A's then value per share will likely move,
    depending on movements in the underlying Crypto held & consideration for new more shares issued.

    The value of the shares looks like it could be as wildly volatile as the basket of Crypto currencies
    it holds .. it may be a case of picking an entry time - if any available on a favourable "Low" day
    assuming one is still enthused & game enough to want to dive in & start swimming ..
    Last edited by nztx; 20-06-2021 at 10:27 PM.

  10. #20
    Guru
    Join Date
    Jul 2004
    Location
    Bolivia.
    Posts
    4,818

    Default

    Price down to $3.38

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •