Investors...

[DaMummy]

ok so whos gonna file our taxes, cause i have no clue on any of this, im also in this to help the project succeed but if it floods me with paperwork, i have no choice but to opt(pun intended) out

 

[wardred]

DaMummy - it shouldn't flood you with paperwork, but it's worth reading up on. It's probably simplest to declare it as income and eat the $20 extra in taxes rather than trying to file it properly as an oversees investment being taxed in the U.K. 'Course, don't take my word for it. IANAL or accountant, or any other financier. :-b

 

[headcrash]

hi,


what I would like to know:


how can OP Ltd. avoid that another company buys all the shares of the investors (ie.double price) in order to influence or prevent the production of the pandora ?


having most of the shares,the rival company could either demand the whole investment back or sue OP till doomsday ...


greetings

 

[Link]

I'm not too worried about the paperwork, taxes, etc. If you take a loss, you pay less tax. BreakEven? Well, then no loss. If there's a profit then you need to worry about taxes. If it really takes off, then you really need to be concerned.


I would say be prepared for an audit perhaps. You don't want to take a loss for more than 3 years, because again, audit.


Depending on your tax bracket, an audit isn't worth the IRSs time.


Personally, Ron Paul has it right, get rid of the IRS.


Peace & Pandora,


Link

 

[wardred]

how can OP Ltd. avoid that another company buys all the shares of the investors (ie.double price) in order to influence or prevent the production of the pandora ?

Influence? Maybe. Prevent, not likely. They'd simply be giving the Open Pandora more money to work with, and Craig's keeping %75 of the company, so any vote, even a "super majority" vote, he wins. I don't believe that the numbers the Pandora is working with represent a large enough market for...who...I don't know, Big Company X to want to buy out the OpenPandora. Also, Craig has a lot more influence over who even gets to purchase shares with a privately held company than a publicly traded one. He's the one who wanted to offer shares to the community.


If a company really got annoyed with the Pandora Project I'd figure they'd find some reason to sue rather than trying to buy it out.

 

[Gerix]

I think someone mentioned that only 25% of shares would be sold. I'm assuming that's 25% of shares outstanding. Even if one person owned all the stock, that shouldn't be a controlling interest. Plus, there are alternatives, such as preferred stock and debt instruments, that wouldn't give up control. My understanding is that this thread is just to drum up interest. They still need to iron out the details.


I don't know why an accountant would be upset about filing a Form 1116. My boss never complained about them.

 

[DaveC]

Just to let you know:


We're also working on stuff like case, WiFi, Hinge, etc. to improve everything.


We're trying to get an electrosparked case sample (the iCP uses electrospark finish), that might look better than the painted one and doesn't wear off.

I was never contacted to do anything with the case. Are you just doing it on your own or what is happening there?

 

[neko]

I don't know why an accountant would be upset about filing a Form 1116. My boss never complained about them.

It's just something that your average H&R block employee hasn't seen a lot of.

 

[MarkoeZ]

(snip) ... and Craig's keeping %75 of the company, so any vote, even a "super majority" vote, he wins ... (snip)

Not certain about any of this, but i'm guessing ED and perhaps (to me likely) MWeston and Fatih have some interest/influence in this company as well.


I for one, am very curious about the Final True Pandora Development Story once all of this is behind us :rolleyes:


That, and the best of luck to the team and investors. I'd do it, but can't miss that much.


Cheers,


MarkoeZ


P.s. Thinking while typing: With 1000 euro/dollar/whatever investment, other people here (preferably Dutch or near the Netherlands)interested in buying a 5th share? We could make a small shared investment somehow?

 

[Gerix]

It's just something that your average H&R block employee hasn't seen a lot of.

Oh, gotcha. I guess I don't consider those people to be accountants.

 

[EvilDragon]

I was never contacted to do anything with the case. Are you just doing it on your own or what is happening there?

No, don't worry


The electrospark finish is the first thing we want to try and that needs no mould change.


For the rest we're still discussing about what needs to be improved.


We haven't started yet on mould changes, it's just what we're all planning to do in the future.


That's why we didn't contact you yet.

 

[Caine]

We haven't started yet on mould changes, it's just what we're all planning to do in the future.


That's why we didn't contact you yet.

If you plan to do it in the future then you are planning more delays. You should know by now that such stuff takes a lot of time. If you do it now, you might be ready by the time batch three starts.

 

[EvilDragon]

If you plan to do it in the future then you are planning more delays. You should know by now that such stuff takes a lot of time. If you do it now, you might be ready by the time batch three starts.

Nope, not planning more delays.


It will be worked on while the rest of the production continues.


Most important thing is to get Batch 1 out now and make the production reliable and stable, so that's what we're working on heavily at the moment (as said: trying to find alternative companies for production, etc.)


Case tweaks are nice, but not absolutely necessary right now, while a stable and reliable production IS necessary.


Tweaking the case costs money, and without a stable production first, spending more and more money is not a good idea.

 

[smartis]

Hello,


The project involved the Pandora is very interesting !


I send you a PM and an email Craigix.


Best regards


Adrien Sergent

 

[wardred]

Not certain about any of this, but i'm guessing ED and perhaps (to me likely) MWeston and Fatih have some interest/influence in this company as well.

I probably should've said Craig & Co. I don't really know who has what obligations. I believe most people who were involved in developing the Pandora will continue to have an influence in the company. It sounds like Craig's main obligation to ED is to deliver the rest of the Pandoras for ED's shop, but I'd imagine Craig'll do right by the people who've really contributed to the project.

 

[the_marshal]

Craig: I just sent you a private message and an email.


I know you're quite busy (and probably receive way too many email) but hopefully this will interest you.

 

[ShleeDragon]

I think the bottom line is, what would people consider a minimal return? Throwing $1000 into a bank in a fixed term offers 6%? We would have to see if Craig can value the company and estimate the return. Once he has our collective money, PandoraCo will use our capital investment to reach this return.


If people are willing to risk getting no/little return on their money, the money will be used to fund production and the cost of the returned units will be paid back into the float in full including the profit. I don't see any issue with losing the money as the costs cover the return... but we'll need to see exactly how much we'll earn on top of our investment.


but it's been mentioned before, some of us are willing to invest simply to support this idea as a whole.


*I'm tired but I think this makes sense*

 

[WizardStan]

Throwing $1000 into a bank in a fixed term offers 6%?

What bank is offering 6% right now? Nothing in North America, or the UK that I can find. I'm making a stable 8% on the stock market but I really have to work at it, and I take a risk with every trade. If I knew somewhere I could get a guaranteed 6% on my investment I'd take it in a heartbeat!

 

[mckenic]

Put me on the interested list please

 

[Exophase]

What bank is offering 6% right now? Nothing in North America, or the UK that I can find. I'm making a stable 8% on the stock market but I really have to work at it, and I take a risk with every trade. If I knew somewhere I could get a guaranteed 6% on my investment I'd take it in a heartbeat!

You won't get 6% on anything anywhere. You can get maybe 1.5% on a saving's account and maaaybe 2% on a CD or bond.


There are actually checking accounts where you can get 3.5% to 4%. The stipulation I've seen is that you have to use debit several times a month (something like 10). They're probably making a bulk of the interest on credit card fees that are passed onto the store. But if you use debit a lot it's a good deal. Another stipulation is that you need to direct deposit into them, which would be a problem for me. The returns cover amounts up to anywhere from around $15k to $40k, and some have reduced interest rates beyond that.


Now, when it comes to estimating returns from OP, I don't trust anyone's guess. Least of all craig's, sorry. I don't doubt that there will continue to be demand for Pandoras, but we don't know what kind of profit can be made on them, least of all while they're slowly trickling out. And I'm not sure the money raised will be enough to guarantee that the units come out more expediently.


One thing I'm curious about is, why 100 investors maximum at $1000 (or whatever currency) minimum? That's allowing pretty much any amount total to be invested. Wouldn't it make more sense to offer X shares at Y dollars/GBP/euro each (at a value that's consistent with exchange rate at time of sale), set a minimum number of shares to buy in (and maybe a maximum) then just sell them until they're gone?