Why is the world not taking notice?
Perhaps there are other companies with proper corporate structure who have something similar to offer
Perhaps it is the same reason it has been so difficult to raise money
Perhaps it's because the company that tried to sue Visa and MasterCard for billions is treated with wariness
We were told for years we were way ahead of everyone..
Now Gemalto, Zwipe, Idex and a number of others are in this space
Getting back to corporate structure have a look at the IDEX website and their corporate governance-- It's a read it and weep story when you are a SMME shareholder
3. Equity and dividends
In the past, the Company has on several occasions been in need of raising equity to fund its activities. All significant share issues or private placements have each been resolved by the shareholders at extraordinary general meetings. The board has proposed to the general meeting only reasonable open authorisations for share issues and moderate incentive schemes. Such board authorisations have explicitly stated the type and purposes of transactions in which the authorisations may be applied. Proposed authorisations to issue shares have been considered and voted separately by each type and purpose. The board authorisations to issue shares have been valid until the next annual general meeting, as recommended by the Code. The proposals have been approved by the shareholders.
4. . Equal treatment of shareholders and transactions with close associates
The Company places great emphasis on ensuring equal treatment of its shareholders. The Company has one class of shares..... Any not immaterial future related-party transactions shall be subject to an independent third-party valuation unless the transaction by law requires shareholder approval. The Company takes legal and financial advice on these matters when relevant.
A proper board, ONE CLASS OF SHARES, no series B shares that can be converted at 50:1... looks like a transparent corporate structure. It appears more than one person decides how all this works
As noted before, corporate structure, rules on equity and dividends are important
a. When you are trying to raise funds
b. and are just as important when/IF you become a revenue company
But of course the CEO will be thinking about all the shareholders who bought at much higher levels on promises of near term riches
Of course she will not want to randomly convert all of her Series B shares???? or randomly decide on further royalty schemes
How did that go?
The shareholders sink $24 million into the company and then we have to pay the CEO's private company...who decided that??
