_Kyle_ Posted March 29, 2018 Report Share Posted March 29, 2018 I don't get how he's swindling anybody. Like, nobody is under the impression they're getting anything right? It's donations. You invest in them doing something with your money. Are they expecting anything in return? Quote Link to comment Share on other sites More sharing options...
Ghent Posted March 29, 2018 Report Share Posted March 29, 2018 in·vest verb 1. expend money with the expectation of achieving a profit or material result by putting it into financial schemes, shares, or property, or by using it to develop a commercial venture. Quote Link to comment Share on other sites More sharing options...
_Kyle_ Posted March 29, 2018 Report Share Posted March 29, 2018 2. provide or endow someone or something with (a particular quality or attribute). And he's supposedly doing that. But yeah, next time post BOTH definitions. Quote Link to comment Share on other sites More sharing options...
Ghent Posted March 29, 2018 Report Share Posted March 29, 2018 lol it's a stock offering that has been filed with the SEC. it's not an endowment. Would be totally different if this was a non-profit or something. Quote Link to comment Share on other sites More sharing options...
_Kyle_ Posted March 29, 2018 Report Share Posted March 29, 2018 https://en.wikipedia.org/wiki/Public-benefit_corporation Quote More broadly, a public-benefit corporation could be any corporation that exists for a charitable purpose, though these are generally called non-profit corporations if they are not founded by a government. Some jurisdictions (the U.S. State of Maine, for instance) might define a public-benefit corporation broadly. In California, public-benefit corporations are one of several types of non-profit corporations. according to their website, they are a PBC. You invest in their mission, and they presumably act out their mission, and thus the public benefits. Nobody is thinking they are getting anything back. I never heard of anybody saying they're getting anything back. Quote Link to comment Share on other sites More sharing options...
Ghent Posted March 29, 2018 Report Share Posted March 29, 2018 Just now, _Kyle_ said: https://en.wikipedia.org/wiki/Public-benefit_corporation according to their website, they are a PBC. You invest in their mission, and they presumably act out their mission, and thus the public benefits. Nobody is thinking they are getting anything back. I never heard of anybody saying they're getting anything back. you might want to read you linked Public-benefit corporations are a specific type of corporation that allow for public benefit to be a charter purpose in addition to the traditional corporate goal of maximizing profit for shareholders. Quote Link to comment Share on other sites More sharing options...
Speedo Posted March 29, 2018 Report Share Posted March 29, 2018 Ghent sure is invested. Quote Link to comment Share on other sites More sharing options...
_Kyle_ Posted March 29, 2018 Report Share Posted March 29, 2018 He is. More broadly, a public-benefit corporation could be any corporation that exists for a charitable purpose, though these are generally called non-profit corporations if they are not founded by a government. Some jurisdictions (the U.S. State of Maine, for instance) might define a public-benefit corporation broadly. In California, public-benefit corporations are one of several types of non-profit corporations. That's what I was referring to in "Other Definitions". Quote Link to comment Share on other sites More sharing options...
Ghent Posted March 29, 2018 Report Share Posted March 29, 2018 Yeah, but this company doesn't exist for a charitable purpose. Its first objective in the legal offering is to pay off Tom's existing debt Quote Link to comment Share on other sites More sharing options...
_Kyle_ Posted March 29, 2018 Report Share Posted March 29, 2018 I still don't see where people are being swindled or saying they expect anything. Are they sitting at home waiting for Tom to show up with a space craft of some sort? This seems pretty clear and open. Quote Link to comment Share on other sites More sharing options...
Ghent Posted March 29, 2018 Report Share Posted March 29, 2018 They are investing money in a for profit company. If it was a donation it would say DONATION and would not have an SEC filing. Quote Link to comment Share on other sites More sharing options...
_Kyle_ Posted March 29, 2018 Report Share Posted March 29, 2018 And it's pretty upfront in everything. What are people being duped by? Quote Link to comment Share on other sites More sharing options...
Ghent Posted March 29, 2018 Report Share Posted March 29, 2018 Buying shares of a company for $5 that are valued at a fraction of a penny whose main purpose is to pay back $400,000 of existing debt owed to a family trust. Quote Link to comment Share on other sites More sharing options...
_Kyle_ Posted March 29, 2018 Report Share Posted March 29, 2018 1 hour ago, _Kyle_ said: I don't get how he's swindling anybody. Like, nobody is under the impression they're getting anything right? It's donations. You invest in them doing something with your money. Are they expecting anything in return? Quote Link to comment Share on other sites More sharing options...
Ghent Posted March 29, 2018 Report Share Posted March 29, 2018 Why yes, they are investing in a company that has filed with the SEC as a for-profit entity. By definition, this would imply at least the chance of a ROI. Quote Link to comment Share on other sites More sharing options...
Jan Backing Track Posted March 29, 2018 Report Share Posted March 29, 2018 1 hour ago, _Kyle_ said: I don't get how he's swindling anybody. Like, nobody is under the impression they're getting anything right? It's donations. You invest in them doing something with your money. Are they expecting anything in return? But he's overcharging for the shares by like 5,000%.. and I don't believe you get any sort of payout if you were to sell them? Like you aren't investing in to the stars through a trade you are straight up donating, like you said. That's pretty deceptive, and you can't expect some 14-18 year olds with a credit card to understand investing but they've heard of it so it sounds legit to them. He should have straight up called it donations, a Kickstarter, gofundme, patreon or whatever and it wouldn't be suspicious. Investing means your are becoming a part of it.. If part of it means seeing his vision unfold well... You know that does sound like Tom so that's the only possible explanation I'd see on his end. 2 Quote Link to comment Share on other sites More sharing options...
_Kyle_ Posted March 29, 2018 Report Share Posted March 29, 2018 Just now, Cat_Lover182 said: But he's overcharging for the shares by like 5,000%.. and I don't believe you get any sort of payout if you were to sell them? Like you aren't investing in to the stars through a trade you are straight up donating, like you said. That's pretty deceptive, and you can't expect some 14-18 year olds with a credit card to understand investing but they've heard of it so it sounds legit to them. He should have straight up called it donations, a Kickstarter, gofundme, patreon or whatever and it wouldn't be suspicious. Investing means your are becoming a part of it.. If part of it means seeing his vision unfold well... You know that does sound like Tom so that's the only possible explanation I'd see on his end. The legal age in the United States to obtain your own credit card is 18 years. I doubt anybody who is hurting for money is giving kids their credit cards to spend whatever on. It sounds like their fault if they do. I've already said what investing means. You can invest in your community by donating to Planet Parenthood. Doesn't mean you should get anything in return beyond satisfaction. Quote Link to comment Share on other sites More sharing options...
Ghent Posted March 29, 2018 Report Share Posted March 29, 2018 Investing with no expectation or chance of a return is called a donation. You don't sell shares when you're asking for donations. Quote Link to comment Share on other sites More sharing options...
Jan Backing Track Posted March 29, 2018 Report Share Posted March 29, 2018 It's a fucking company dude, not your community or your kids future where you can bend the term 'investing'. It's a company.. so using the term investing should mean you are receiving shares in the company, it's donating. He couldn't even have the dignity to make it a Kickstarter or something to protect the fans donating is what bothers me. 1 Quote Link to comment Share on other sites More sharing options...
_Kyle_ Posted March 29, 2018 Report Share Posted March 29, 2018 I still don't see where it sells them on ... anything beyond their "mission". What are they expecting? Money? It never says they'll get any back even if it's a success. Quote Link to comment Share on other sites More sharing options...
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