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09-20-11 We Owe U (WOU) N1CL units: List of Lenders, Awarded to, How buy
Saturday, June 14, 2008 (23:18:54)
Posted by admin
Why & How Do N1CL We OWE YOU(WOU) units work?
Since we can not issue stock without putting the share holders interests ahead of the Members interest in protecting and maintaining the N1CL purposes in perpetuity, I was left with a problem: How do we raise capital? A lawyer told me as a sole proprietorship, you can borrow money from anybody on any terms both parties agree to. Ergo N1CL WOU units.
There are 100,000,000 N1CL WOU units. They will be repaid with 5% of N1CL stipulated gross revenues in perpetuity = forever. Stipulated gross revenues = $100 application fee and the $20 a month member fee plus other revenues to be decided upon in Beta. For sure, ad revenues will be. Denominated in whatever the nominal currency used to pay these fees in is. Should we increase the amount of membership fee or raise the monthly member fee, then the 5% will reflect this increase when collected. In short, the stipulated gross revenues are based upon whatever the member joining fee is, plus the monthly dues, ad revenues and (tobe decided), in whatever currency the member(s) pay with. There will be no special breaks for any members, we all pay the same, except for hardship exceptions.
When do we pay the 5% of defined gross revenues?
The 5% will be collected and paid on the 2nd Friday of the following month. A $1 minimum payment paid electronically for free to your n1cl account upon request. Payments to any other electronic account of your choosing are less any actual transaction charges for the transfer. The N1CL adds 10% to any actual transaction costs for its costs.
Amounts less than $1 will be accumulated in the members name and starting after the month collected will share proportionately in any interest earned by this "unpaid 5% account". No interest on amounts under $10. WOU owners may choose to accumulate there share of 5% in 'unpaid' account.
We have one lender at present. I refused to continue borrowing using them until the list was operational.
I also award them as rewards to those who have made good suggestions, etc, towards building the N1CL.
We will be using these WOU units to compensate Beta Testers and in the process establish their market value. Since the last transaction was $2 = N1CL is worth at least $200,000,000 dollars. During Beta, the Testers will earn WOUs for testing time, and then pay the $20 a month Member cost with them. They can substitute actual $dollars$ instead; and they can buy them back for cash starting at %5 each, then going up $1 a week in price to %10.
In addition, we will offer one million WOUs at $10 each to investors. Members and Beta Testers will be given preference.
[size=18]LENDERS
1. Andy Wood in 2006 lent $5000 for 2500 N1CL WOU units.
I have lost touch with Andy. He was a bookkeeper. He had a son in the air force, officer and flier, married w. kids as I remember stationed in Utah. Andy would be at 66 now(2011). After the disconnection we must find him.
AWARDED WOU units
60,000 WOU units to Dennis Morgan, my first programmer. He built first working model N1CL and the died, a massive coronary just as we were to go Beta. We worked out many of the details.
100 WOU units to Mark Guadelupe: For suggesting CPG Dragonfly. Without its built in functions it would have been far to expensive to build the software.
100 WOU units to Mark Guadelupe: For finding the open source "handclasp logo".
100 WOU units to B. Mcmahan for helping with creating 'Questions From Anyone
Answers For All'
100 WOU units to Marko for his great question:"How many ways to end Dialogue?".
100 WOU units to A. Zosa for being patient and a very competent sys admin.
100 WOUs to A. Zosa 02-05-10, switching Backup around.
100 WOU units to Carl Gilliam for putting headline above box on Page 1 instead of inside at top. My ambiguous instruction led to perfect place for Headline that tied into instructions etc in box below.
1500 WOU units 8-1-09 to Marko for installing Q&A and beginning debug.
12-19-09 100 WOU to Marko, we worked out more on Q&A, he is starting to see it more clearly. when we finish this stage, a nice bonus for him.
12-19-10 500 WOUS to Albert Zoza for monitering and transferring servers at M-5
05-07-11 150 WOUs to Albert Zoza for fixing registration problem.
06-01-11 100 WOUs to Albert Zosa for fixing bolding and explaining how.
07-2-11 50 WOUs for removing 1 year back up from dedicated servers.
07-18-11 100 WOUs for working on Backup.
09-20-11 50 WOUS to Carl Gilliam for good ideas on buttons. |