top

Investment money from shares!

Post new topic Reply to topic FizzX.org Forum Index | Skeptics, sceptics, and Cynics    Page 1 of 1

Fri Apr 27, 2007 3:29 am PostPost subject: Investment money from shares!
PennyWise
Contributor
Contributor


Joined: 21 Apr 2007
Posts: 12

Reply with quote

A much asked question is who is financing Steorn? Just a theory:

Steorn have an authorised share capital of 10,000 euros (all amounts are in euros). This being 1,000,000 shares at a 0.01 each. This is their "nominal value". Now looking at the Balance Sheets...

In 2003 they "Issued" and "Called Up" 1,145 shares for 203,283. Making the capital value of those shares worth 177.54 each.

In 2004 they "Issued" and "Called Up" 1,214 shares for 2,363,879. Making the capital value of those shares worth 1,947.18 each.

In 2005 they "Issued" and "Called Up" 1,238 shares for 5,879,315. Making the capital value of those shares worth 4,749.04 each.

So from what we know. Steorn have issued and called up 3,597 shares for a total 8,446,477.00. An average of 2,348.20 per share.

This means that they still have 996,403 shares not "allotted, called up and fully paid". Just working on the above average these could be worth in excess of 2.3 billion.

An interesting thing to ponder. It is possible to issue shares but not call them up and so not have them paid for. I wonder how many of those unpaid for shares have already been issued? Issued before Stoern said they wouldn't be wanting more investors until after validation? Investors might already have their shares. Steorn just needs to keep going back and asking them to pay for more of those already issued shares. Investors have already shown they are willing to pay an increasing amount for shares in a company that is making increasing losses.

Sometimes you can hook people in with a small amount. Then you gradually increase it - all the time promising greater and greater returns. After awhile those hooked keep thinking "I've already invested x, what's another x". Those caught by Nigerian scams; those addicted to gambler; exhibit such behaviour.
Back to top
View user's profile Send private message
 
Fri Apr 27, 2007 8:22 pm PostPost subject: Re: Investment money from shares!
Ping1400
Regular Contributor
Regular Contributor


Joined: 09 Apr 2007
Posts: 133
Location: EU

Reply with quote

So on paper the personal share of Sean has a value of 690 million.
I'd sell my dog for that!
Back to top
View user's profile Send private message
 
Sun Apr 29, 2007 10:24 pm PostPost subject:
PennyWise
Contributor
Contributor


Joined: 21 Apr 2007
Posts: 12

Reply with quote

Of course the fact that Sean owns x number of shares doesn't mean that he has paid anything for them. Shares can be exchanged for "services" or just "gifted". Their shares are not publically traded so they are worth whatever the company says they are worth and what people are prepared to pay for them.
Back to top
View user's profile Send private message
 
Sun Apr 29, 2007 10:29 pm PostPost subject:
Thicket
Regular Contributor
Regular Contributor


Joined: 09 Apr 2007
Posts: 118

Reply with quote

Tomorrow, I plan on posting info on how much Sean paid for his shares. It's chump change.
Back to top
View user's profile Send private message
 
Sun Apr 29, 2007 11:11 pm PostPost subject:
PennyWise
Contributor
Contributor


Joined: 21 Apr 2007
Posts: 12

Reply with quote

In fairness to Sean - what he paid for his shares matters naught. In most private companies shares are set at a nominal value and the initial directors / partners get those shares at that value. They may pay for them as a means of getting the company getting initial capital, but they don't have to and in many cases don't.

It is later when the company may want investment capital or more partners that a more "realistic" share value is arrived at. And by "realistic" I mean what someone is prepared to pay. It still maybe a worthless piece of paper.
Back to top
View user's profile Send private message
 
Post new topic Reply to topic FizzX.org Forum Index | Skeptics, sceptics, and Cynics
View previous topic
View next topic
Display posts from previous:   




You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot vote in polls in this forum