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wisard



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Sr. MemberActivity: 272Merit: 250 Re: [For Sale] Shares in coinbase.com March 25, 2013, 09:13:48 PM #9 Quote from: piuk on March 25, 2013, 02:50:10 PM Quote from: MPOE-PR on March 25, 2013, 12:50:56 AM This has theymos/GLBSE written all over it.



Just to be clear I am not affiliated with Coinbase Inc and have no insider knowledge nor am I aware of any negative news regarding the company.



10 million shares have been issued of which 200,000 represents 2%. Looking for offers over $20k. As far as I'm aware no accounts are available yet but as a shareholder you would be entitled to view them and are also entitled to dividends although none have been issued as yet.





Just to be clear I am not affiliated with Coinbase Inc and have no insider knowledge nor am I aware of any negative news regarding the company.10 million shares have been issued of which 200,000 represents 2%. Looking for offers over $20k. As far as I'm aware no accounts are available yet but as a shareholder you would be entitled to view them and are also entitled to dividends although none have been issued as yet.

Thanks. I see value in coinbase. I like its existing angel investor list too.



However, one thing should be clarified:



Coinbase has raised money from ycombinator, fundersclub and private investors.

While the ycombinator deal would have meant issuance of 10 million shares, I believe the fundersclub deal and the private investors deal would be done using convertible notes.

So the number of total shares will be a lot more than 10 million when these notes convert. 200,000 shares won't represent 2% of the company.



(My estimate is it will represent 0.25% to 0.5% of the company. But thats just an educated guess. And I could be off by as much as a decimal point.)



I had sent an email to Brian yesterday asking for more details on convertible note valuation caps but have yet to hear back from him. I will make my offer once I hear from him. (If you think you can connect both of us for maybe a faster response, please do.) Thank you. Thanks. I see value in coinbase. I like its existing angel investor list too.However, one thing should be clarified:Coinbase has raised money from ycombinator, fundersclub and private investors.While the ycombinator deal would have meant issuance of 10 million shares, I believe the fundersclub deal and the private investors deal would be done using convertible notes.So the number of total shares will be a lot more than 10 million when these notes convert. 200,000 shares won't represent 2% of the company.(My estimate is it will represent 0.25% to 0.5% of the company. But thats just an educated guess. And I could be off by as much as a decimal point.)I had sent an email to Brian yesterday asking for more details on convertible note valuation caps but have yet to hear back from him. I will make my offer once I hear from him. (If you think you can connect both of us for maybe a faster response, please do.) Thank you. Buy me a beer or 2 if you enjoy my posts. BTC address: 1976Nb5u1T2haoxSZnJgHaemHYYtgKmTsU

piuk



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Hero MemberActivity: 910Merit: 1001 Re: [For Sale] Shares in coinbase.com March 25, 2013, 09:32:17 PM

Last edit: March 26, 2013, 02:46:53 AM by piuk #10 Quote from: wisard on March 25, 2013, 09:13:48 PM While the ycombinator deal would have meant issuance of 10 million shares, I believe the fundersclub deal and the private investors deal would be done using convertible notes.

So the number of total shares will be a lot more than 10 million when these notes convert. 200,000 shares won't represent 2% of the company.



Yes you are correct, almost certainly some notes have been issued. Brian may be willing to clarify this.



I don't really understand you Americans and your convertible notes. But what % of equity the notes will convert at depends on the valuation determined in the companies second round of funding. If a company has issued $600k convertible equity and the second seed round is valued at $6m those notes can be converted to 10% equity. I don't they they would dilute the 200k holding to as low as 0.25% but there will be some dilution.



http://dl.dropbox.com/u/58484379/Division%20of%20Corporations%20-%20General%20Information%20-%20Entity%20Details.pdf Yes you are correct, almost certainly some notes have been issued. Brian may be willing to clarify this.I don't really understand you Americans and your convertible notes. But what % of equity the notes will convert at depends on the valuation determined in the companies second round of funding. If a company has issued $600k convertible equity and the second seed round is valued at $6m those notes can be converted to 10% equity. I don't they they would dilute the 200k holding to as low as 0.25% but there will be some dilution. Try a My Wallet Demo Account

chriswilmer



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LegendaryActivity: 1008Merit: 1000 Re: [For Sale] Shares in coinbase.com March 25, 2013, 11:03:58 PM #11 I don't understand, if you are not affiliated with Coinbase, then how do you have 200,000 shares? Also, I didn't think you could sell shares to non-accredited investors. I realize that with bitcoin stock exchanges all the rules went out the door, but with a conventional American company, I don't think it's possible/legal to just sell shares to anyone before the company goes public.

whitenight639



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Full MemberActivity: 154Merit: 100 Re: [For Sale] Shares in coinbase.com March 26, 2013, 12:17:44 AM #14

Can somebody please post the registered company name coinbase is trading under any any accounts previously filed with the IRS?



I'm from the UK it's pretty easy to get that info on UK companies, I don't understand how the American systems work.





Without the accounts with profit / loss, Turnover, Order book, and existing shares issued it is impossible to value the company, If you can't value the company you can't value the shares. Due dilligence and all that, I can't work on a share price based on the OP's vague posts regarding 10m shares, no disrespect intended I just need more information.













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Gerald Davis







DonatorLegendaryActivity: 1218Merit: 1007Gerald Davis Re: [For Sale] Shares in coinbase.com March 26, 2013, 03:18:34 AM #16 Quote from: whitenight639 on March 26, 2013, 12:17:44 AM

Can somebody please post the registered company name coinbase is trading under any any accounts previously filed with the IRS?



I'm from the UK it's pretty easy to get that info on UK companies, I don't understand how the American systems work.





Without the accounts with profit / loss, Turnover, Order book, and existing shares issued it is impossible to value the company, If you can't value the company you can't value the shares. Due dilligence and all that, I can't work on a share price based on the OP's vague posts regarding 10m shares, no disrespect intended I just need more information.



The company is coinbase, inc (a Delaware Corporation). However the company is privately held. None of that information is public record. I am pretty sure there are private companies in the UK as well. Unless a company is publicly traded it is not required to disclose financial reports (and almost never do) outside of confidential owner reports/memorandums.



Simple version: you won't find the info you are looking for in any public record. In 3-5 years if coinbase goes public it will then have an IPO, register with the SEC as a registered security, and be required to file quarterly, and annual reports. The company is coinbase, inc (a Delaware Corporation). However the company is privately held. None of that information is public record. I am pretty sure there are private companies in the UK as well. Unless a company is publicly traded it is not required to disclose financial reports (and almost never do) outside of confidential owner reports/memorandums.Simple version: you won't find the info you are looking for in any public record. In 3-5 years if coinbase goes public it will then have an IPO, register with the SEC as a registered security, and be required to file quarterly, and annual reports.