Plus this: A motion shall be considered approved on a majority of more than 50% of the shares (50,000 shares).
Meaning that only your voice (how your 100k shares are distributed, with you getting 65%) counts. Isnt it a bit harsh? meaning that motions in here basicly are a joke and just your public stunt?
Apologies, I missed this post. I don't think this is unreasonable, no. Again, taking my own business Memset Ltd, which are are considering floating on NASDAQ or AIM in a few years time my and my brother's intention is to keep hold of 75% of the shares. This gives us absolute control (for real companies a 25% shareholder can veto motions), but NASDAQ, for instance, is quite happy for you to only offer 10% of the share capital on the exchange.
However, if we were then to take actions which harmed our shareholders, or if we were to exclude them from the decision-making process entirely, this would reduce the value of our shares. So it is here; I am highly-motivated to increase CipherMine's share price and in order to do that I must keep the market happy. If I start ignoring shareholders or doing things in pure self-interest then the shares will drop in value.
Further, as articulated in the business plan, a big threat for a virtual company is the founders selling a big chunk of their shares to make a fast buck then dumping the company. Since I have only 65% and the majority is 50%+ this means I am unlikely to want to sell very many.
By comparison, if we look at Ethan Burnside's BTC-TC and LTC-GLOBAL shares, he owns >90% but these securities command incredibly market capitalisations. I am putting a much larger proportion of CipherMine on the market, and there are four founding shareholders too.
I hope that addresses your concerns?
I am sorry its just hard to take you serious after your claims. Here is the copypaste, tell me how will you comply with the percentages you want:
Listing Requirements for All Companies
Each company must have a minimum of 1,250,000 publicly-traded shares upon listing, excluding those held by officers, directors or any beneficial owners of more then 10% of the company. In addition, the regular bid price at time of listing must be $4, and there must be at least three market makers for the stock. However, a company may qualify under a closing price alternative of $3 or $2 if the company meets varying requirements. Each listing firm is also required to follow Nasdaq corporate governance rules 4350, 4351 and 4360. Companies must also have at least 450 round lot (100 shares) shareholders, 2,200 total shareholders, or 550 total shareholders with 1.1 million average trading volume over the past 12 months.
Listing Standard No. 1
The company must have aggregate pre-tax earnings in the prior three years of at least $11 million, in the prior two years at least $2.2 million, and no one year in the prior three years can have a net loss.
etc. etc. etc.
Thats for your plans. So you just tell something that you wish, without looking up of it. Well, guess everyone does business their way.
But hey, I wish you all the best. As far as I am concerned, I wouldn't invest in you, as I dont see how 10% will get anything (even their value) back, but thats just me. People might actually consider trading your stocks and not waiting for dividents. Best of luck!