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Author Topic: KPS pays a dividend  (Read 19051 times)

whatnxt

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Re: KPS pays a dividend
« Reply #60 on: November 24, 2014, 10:00:47 am »

Not really happy about it because nxt price was the double at the time I've invsted.

I'm not happy either, but more because there was no discussion and we do not know what is happening to PrintShop's print shop...
The fiat price of NXT varies all the time. As long as you can wait you will be OK. Plus you could invest in a higher yielding asset.
It looks like PrintShop is liquidating NXT assets to buy back KPS so yes he may be making a profit. PrintShop appears to be keeping the print business that we helped him set up because of this. We do not know if he is allowed to operate it though.
Lots or questions arise that we have not found answers to yet...
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galeki

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Re: KPS pays a dividend
« Reply #61 on: November 24, 2014, 11:04:24 am »

Kind of ivory that I read the inspection of nXtGenGHS on KNS, and now similar happend on itself's asset. :(
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polylux

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Re: KPS pays a dividend
« Reply #62 on: November 24, 2014, 11:52:19 am »

Haven't got this yet. AFAICS, you close this asset buying back existing shares. People can either have their shares bought back or converted into safehash ones. Is this correct?
What I don't see yet is:
- at what price will the buyback happen?
- at what rate will KPS shares be converted into SafeHash?

Thanks,
p.
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printshop

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Re: KPS pays a dividend
« Reply #63 on: November 24, 2014, 11:52:39 am »

Oh no, I bought bunches of shares at early IPO @16, now I have to sell @13.x ?

No, if you read the announcement it says to place an ask above what you paid, and I will buy back at that price. I don't know why you would think you need to sell at 13, but if you do, that is your decision.

See: https://nxtforum.org/index.php?topic=4740.msg133776#msg133776
Reproduced below:

Quote
Hi everyone. Due to the SafeHash deal I've worked out, KPS will have to close.

We won't issue a dividend anyomre, but we will repurchase all shares on the open market. My suggestion is to tender them for about 5-10% more than you paid. This will give everyone a good profit and help speed the closing.

There will be those who hold out for a very high price; please be aware that we are unlikely to place bids higher than the major sell points, and will certainly never bid more than we have sold for :)

Good luck and thank you for making KPS a success!

If you would like to convert your KPS shares to SafeHash shares, please PM me or send an e-mail to kns@kongzi.ca.

Please see the SafeHash and KPS discussion threads for more information.

Unfortunately I missed this and have finished selling back at the price available on the market. PrintShop, you could have planned this better...

Oh? What would you suggest? I made posts in all of the KPS and SafeHash threads. Did you read the announcements before you sold your shares? No offense, but there's almost nothing I can do to prevent people from making mistakes trading on NXT AE. But this works both ways. If you want, just buy up shares under 21 and put them for sale at 20.9. I'll pay at least that price (anything under the sell wall will be bought back at ask price). You're going to have to respect the market on this one.

Not really happy about it because nxt price was the double at the time I've invsted.

If you read our prospectus, it specifically mentions currency risk. I'm sorry you're not happy about it, but there is a silver lining; you can sell your KPS and reinvest in SafeHash, and you will make more money for less risk.

I'm not happy either, but more because there was no discussion and we do not know what is happening to PrintShop's print shop...
The fiat price of NXT varies all the time. As long as you can wait you will be OK. Plus you could invest in a higher yielding asset.
It looks like PrintShop is liquidating NXT assets to buy back KPS so yes he may be making a profit. PrintShop appears to be keeping the print business that we helped him set up because of this. We do not know if he is allowed to operate it though.
Lots or questions arise that we have not found answers to yet...

There doesn't have to be a discussion. You agreed to all of this when you invested because we published a prospectus that specifically stated we could do this (cut divs and repurchase shares on the market). Plus, it isn't like anyone is being shady or ripping anyone off. KPS investors have seen some of the highest returns in the community, matching that even of mining. And now they're getting a buyout at IPO price. I'm not sure what there is to complain about :)

There shouldn't really be any questions. You're getting a good deal here. If you don't think so, I'm all ears, tell me why you think this is a bad deal for investors.

okaynow

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Re: KPS pays a dividend
« Reply #64 on: November 24, 2014, 12:01:49 pm »

so printshop, what exactly is happening now?  Your swift and announced decisions are not really helpful.
Why not having this discussion in the open, instead of a pm?

I would think that the terms would be same for every user, so just be kind enough and explain to us the procedure
and terms and conditions, please.

I'm sure that most users will benefit from having an open and transparent way of closing this asset down and
moving ahead.

I am completely confused, none of your threads are completely clear on the matter.

Are you buying at prices 5%-10% more than what each user bought in?
Or are you swapping for safehash and at what ratio?

or are you accommodating both options?
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printshop

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Re: KPS pays a dividend
« Reply #65 on: November 24, 2014, 12:09:07 pm »

so printshop, what exactly is happening now?  Your swift and announced decisions are not really helpful.
Why not having this discussion in the open, instead of a pm?

I would think that the terms would be same for every user, so just be kind enough and explain to us the procedure
and terms and conditions, please.

I'm sure that most users will benefit from having an open and transparent way of closing this asset down and
moving ahead.

I am completely confused, none of your threads are completely clear on the matter.

Are you buying at prices 5%-10% more than what each user bought in?
Or are you swapping for safehash and at what ratio?

or are you accommodating both options?

There's absolutely no point in discussing it in public; the reason why you have to PM or e-mail me is because people may have bought in at different prices, and I can also barter for assets which we are trying to sell. For example we have 336 shares of STSH that someone might want to exchange for their shares.

I'm sorry you feel confused; everything we are doing now was mentioned in the prospectus, which we published before we even listed the company.

hurrikaani

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Re: KPS pays a dividend
« Reply #66 on: November 24, 2014, 12:10:37 pm »

Well' i'm happy that you're buying us back and being fair about it.

But, i'm unsure what price i should sell the shares.  ??? I bought some at 16.5 and some at 13. What can i reasonably ask and should i be worried, that you wont buy the shares back, if i'm asking for too much profit?
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printshop

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Re: KPS pays a dividend
« Reply #67 on: November 24, 2014, 12:15:43 pm »

Well' i'm happy that you're buying us back and being fair about it.

But, i'm unsure what price i should sell the shares.  ??? I bought some at 16.5 and some at 13. What can i reasonably ask and should i be worried, that you wont buy the shares back, if i'm asking for too much profit?

It's like standing in line. We are selling off some assets, a lot of liquid assets and some illiquid (no one likes KNS for some reason). But I'll buy the KNS personally if I have to.

There's enough liquid assets in KPS and my personal account that this procedure shouldn't take more than a week or two. Just put the shares up for whatever you feel is fair. Naturally, shares placed at a lower ask will get bought out before shares placed at a higher ask. But all shares WILL be bought back.

There's been a lot of general confusion here and I think it's because people didn't read our prospectus. We are authorized to repurchase shares instead of paying dividends. That's what we do.

okaynow

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Re: KPS pays a dividend
« Reply #68 on: November 24, 2014, 12:20:48 pm »

so printshop, what exactly is happening now?  Your swift and announced decisions are not really helpful.
Why not having this discussion in the open, instead of a pm?

I would think that the terms would be same for every user, so just be kind enough and explain to us the procedure
and terms and conditions, please.

I'm sure that most users will benefit from having an open and transparent way of closing this asset down and
moving ahead.

I am completely confused, none of your threads are completely clear on the matter.

Are you buying at prices 5%-10% more than what each user bought in?
Or are you swapping for safehash and at what ratio?

or are you accommodating both options?

There's absolutely no point in discussing it in public; the reason why you have to PM or e-mail me is because people may have bought in at different prices, and I can also barter for assets which we are trying to sell. For example we have 336 shares of STSH that someone might want to exchange for their shares.

I'm sorry you feel confused; everything we are doing now was mentioned in the prospectus, which we published before we even listed the company.

I'm not trying to be a jackass, but if by "everything we are doing now was mentioned..." you mean "there is risk involved", yes i agree.
I cant recall anything in your KPS prospectus on all these actions and issuing of all your other assets and plans.

I think there is quite a lot of value in open discussions, because regardless of the buy-in price, there are always more details that keep sneaking up.

So to clarify, you will buy up in prices "that you feel is fair" or in prices 5%-10% higher than the buy-in, according to the blockchain?
And again, what is the swap ratio for KPS-Safehash?

Thanks for clarifying these little details, information is important and should be clear, transparent and concise.
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printshop

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Re: KPS pays a dividend
« Reply #69 on: November 24, 2014, 12:36:41 pm »

I would think that the terms would be same for every user, so just be kind enough and explain to us the procedure
and terms and conditions, please.

The very OP states first of all,

Official Company Announcements :
   https://coinsortium.co/security.php?ticker=KPS#Anouncements

If you click on this link you see the following:
"Priority Share Repurchase: Repurchasing shares adds to shareholder value by increasing demand, therefore raising the price of the stock. Should the bid price of KPS fall below book value our priority will be share repurchase instead of paying a distribution."

This has been online since August 17th, before we even created the NXT listing. Additionally, 4c states:

"c) This document and our prospectus include forward-looking statements. We have based these forward- looking statements on our current expectations and projections about future events. These forward-looking statements are subject to risks, uncertainties and assumptions about Kongzi, including:

    Our ability to identify trends in our target markets and to offer new services
    Changes in our pricing policies and those of our competitors or partners
    Our ability to compete successfully against direct and indirect competitors
    Growth or demand for our services

We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. In light of these risks, uncertainties and assumptions, the forward-looking events discussed in this prospectus might not occur."


Let me be as honest with you as you have been with me. People did not support KPS (and are not supporting KNS now). People would sell shares at just below IPO price in the middle of our IPO, and we could not successfully sell even 1/10th the shares we needed to sell to make a successful full-range print shop. In stead, well-funded competitors sprung up for everything except the flashcard printing business -- competitors which have essentially done nothing but be well funded in the stead of KPS and KNS.

I'm doing this to make money. The community has decided not to invest in it, in a general sense. Therefore it will close down. That HAS to happen. The question is timing.

Thankfully NxtGlaive came along with tens of thousands of dollars and offered to back SafeHash. So, we kill KPS and run with what's profitable. That actually makes sense, and since no one is getting a bum deal here I say it's time to tender your shares and move on :)

okaynow

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Re: KPS pays a dividend
« Reply #70 on: November 24, 2014, 12:46:22 pm »

Printshop, can you please clarify for all users, KPS asset holders and also future investors on your digital assets these questions?
I feel that these are important details for everyone involved, regardless of what each of us has paid to buy the asset.

What I don't see yet is:
- at what price will the buyback happen?
- at what rate will KPS shares be converted into SafeHash?

Are you buying at prices 5%-10% more than what each user bought in?
Or are you swapping for safehash and at what ratio?

or are you accommodating both options?

So to clarify, you will buy up in prices "that you feel is fair" or in prices 5%-10% higher than the buy-in, according to the blockchain?
And again, what is the swap ratio for KPS-Safehash?
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Woolie Poolie

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Re: KPS pays a dividend
« Reply #71 on: November 24, 2014, 02:44:29 pm »

Printshop, can you please clarify for all users, KPS asset holders and also future investors on your digital assets these questions?
I feel that these are important details for everyone involved, regardless of what each of us has paid to buy the asset.

What I don't see yet is:
- at what price will the buyback happen?
- at what rate will KPS shares be converted into SafeHash?

Are you buying at prices 5%-10% more than what each user bought in?
Or are you swapping for safehash and at what ratio?

or are you accommodating both options?

So to clarify, you will buy up in prices "that you feel is fair" or in prices 5%-10% higher than the buy-in, according to the blockchain?
And again, what is the swap ratio for KPS-Safehash?

I'm also interested in the swap ratio of KPS/SafeHash, how will you proceed in this?
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printshop

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Re: KPS pays a dividend
« Reply #72 on: November 24, 2014, 03:10:18 pm »

I'm also interested in the swap ratio of KPS/SafeHash, how will you proceed in this?

You appear to be a KPS shareholder through one of your accounts. Any particular reason you don't want to reveal your forum identity?

At any rate, I've answered these questions, although I take great pleasure in watching trolls try and make something out of this.

There's nothing here.

pf

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Re: KPS pays a dividend
« Reply #73 on: November 24, 2014, 03:37:54 pm »

Is NxtGlaive like a poster, or have an account or a website? Or how exactly can we confirm that it is in fact real?
Is it going to xfer you the $6,000 worth of BTC to a BTC account you control?
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okaynow

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Re: KPS pays a dividend
« Reply #74 on: November 24, 2014, 03:42:52 pm »

Printshop, can you please clarify for all users, KPS asset holders and also future investors on your digital assets these questions?
I feel that these are important details for everyone involved, regardless of what each of us has paid to buy the asset.

What I don't see yet is:
- at what price will the buyback happen?
- at what rate will KPS shares be converted into SafeHash?

Are you buying at prices 5%-10% more than what each user bought in?
Or are you swapping for safehash and at what ratio?

or are you accommodating both options?

So to clarify, you will buy up in prices "that you feel is fair" or in prices 5%-10% higher than the buy-in, according to the blockchain?
And again, what is the swap ratio for KPS-Safehash?

Can you please point me to the post that you are answering these two questions with a clear answer,
because i can't seem to find it.

All i can see are vague answers, promises of PM deals, and now you are calling people names, and you've thrown me a smite at the second repost of my questions.

Maybe you should just answer in two or three lines, instead of smites ?

Why is this so hard to clear up, it should not be so complicated.
These two questions are rather important, please refrain from dismissing them, and give us a clear answer.
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printshop

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Re: KPS pays a dividend
« Reply #75 on: November 24, 2014, 03:50:33 pm »

Is NxtGlaive like a poster, or have an account or a website? Or how exactly can we confirm that it is in fact real?
Is it going to xfer you the $6,000 worth of BTC to a BTC account you control?

It's a trade name for some investment company that wants to buy into NXT. It's probably unlicensed as we've never heard of them before, so you can't actually look it up. Part of why they are doing this is because in order to license a trade name in Canada you have to show you have been doing business under that name. So you will have to wait to verify the company actually exists.

But in a certain sense there's no real need to verify they exist, they aren't looking for investment, if that's what you mean. I should be given some NXT early next month is my guess. I need to make some phone calls today about this and see how we can do the paperwork. I'll ask if I can post the contract.

satoshi

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successfully swapped KPS for SAFEHASH
« Reply #76 on: November 24, 2014, 03:52:35 pm »

Just wanted to update everyone that I have successfully swapped all my KPS shares approximately worth 15000 NXT cost price to SAFEHASH '

Here are the steps I used to complete this task.

1- Go to nxtreporting.com, add my nxt account id.
2- Sort the asset list under "My Asset Exchange Transactions"

3- I noted down the exact amount of KPS and the actual price it was acquired.
4- I pmed KPS about my cost price.
5- After his confirmation pm, I transferred KPS share from each of my accounts and included a message about how many SAFEHASH I was expecting.
6- In about 20 minutes I received the swapped assets in my respective accounts.
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printshop

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Re: successfully swapped KPS for SAFEHASH
« Reply #77 on: November 24, 2014, 03:54:40 pm »

Just wanted to update everyone that I have successfully swapped all my KPS shares approximately worth 15000 NXT cost price to SAFEHASH '
...
4- I pmed KPS about my cost price.
5- After his confirmation pm, I transferred KPS share from each of my accounts and included a message about how many SAFEHASH I was expecting.
6- In about 20 minutes I received the swapped assets in my respective accounts.

If I were you, I would have put up an ASK at 20.9. But, opportunity cost can be a pain sometimes!

Good instructions, thanks.

galeki

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Re: KPS pays a dividend
« Reply #78 on: November 24, 2014, 04:08:13 pm »

Already put all my KPS share on ASK, no timetable of buyback? Or I have to swap for SAFEHASH?
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RAlex

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Re: successfully swapped KPS for SAFEHASH
« Reply #79 on: November 24, 2014, 06:25:41 pm »

Just wanted to update everyone that I have successfully swapped all my KPS shares approximately worth 15000 NXT cost price to SAFEHASH '
...
4- I pmed KPS about my cost price.
5- After his confirmation pm, I transferred KPS share from each of my accounts and included a message about how many SAFEHASH I was expecting.
6- In about 20 minutes I received the swapped assets in my respective accounts.

If I were you, I would have put up an ASK at 20.9. But, opportunity cost can be a pain sometimes!

Good instructions, thanks.

Printshop, I truly encourage you to stop whatever comes here. You will not buy all shares back, period. Someone will still try to speculate. The only exit strategy for you here to save your reputation (and fast) is to put FINAL! buy wall at whatever price you think is fare...
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