Stock Options
I had a great meeting with Greg Borenstein yesterday about going public. The website is pretty much complete and testing should start soon. In the beginning Greg will be one of the single largest shareholders as he is being paid partially in K5M stock. Jona Bechtolt and Matthew Stadler will also be initial shareholders.
Greg will have about 350 shares. Jona will have 100 shares. Matthew will have 50 shares. Of the 500 shares I set aside for the physical stock certificates, I have given 300 of those to Veneer Magazine to be included for those who buy the entire edition. That's a total of 800 shares that will be out in the world before I officially start selling stock.
Of course that 800 shares is small fraction of the total shares. There will be 100,000 total shares at launch, though I expect it will take a long time for all those shares to be purchased.
I'm very excited about the Veneer shares, as those will end up in the hands of people I do not know. My hope is that they register their single share and become engaged. The idea of the subscribers of Veneer acting as a group of activist shareholders gets me very excited.
Oh, and the design of KmikeyM will look sort of like this...
<< | Posted by kmikeym at 10:42 AM | >>
I am honored to be an initial stock holder of 50 shares of K5M stock. And, as a Veneer subscriber, I see I will actually have 51 shares! Thank you for this good fortune.
Yeah, I am also a subscriber, so one share just got recycled back to me. :)
If your share price falls to a certain level do you plan to institute a share buy-back program?
Sort of. I plan on playing the part of the market maker or specialist and making sure there is always a buyer if people want to sell, which will involve buying back stock.
For example, the people who get a free stock from Veneer may wish to sell immediately.