On Sunday, June 22, 2003, at 03:38 AM, Danny Van den Berghe wrote:
How much of the business is represented by those shares? Is this shares? Assume I buy all (or 50.1%), do I own the company?
Good question, which means, I don't know the answer.
If it is not clear what part of the company a share represents, then you
cannot really call it a stock.
That is why in my response to Arik I avoided the the terms "share" and "stock" altogether. Instead, I described the instrument in purely operational terms as I understand it.
And what annual report they are going to publish? As a shareholder you have
the right for certain information..
The answer is on the web site:
"Due to the continued growth of DGC use, TGC expects to continue to grow slowly and steadily in every quarter.
A report will be issued and the dividend adjusted at the end of each quarter (last day of March, June, September, December)."
Obviously the new dividend must be announced publicly, but it is not clear if the report will contain additional information only available to investors.
In absence of that it is really more of an indefinite bond, with no fixed
interest rates, and no guarantee that you will receive your principle back
at the end (whenever that may be)
Right, TGC does not return your principal because it's not a loan. You are purchasing a portion of TGC's future profits. The only way to recover your original capital is to sell the instrument to a new person wishing to purchase future profits.
Some of us think those profits will climb considerably higher and that TGC will continue to pay out a healthy share of them. I am one of them. There's no way I can be absolutely certain because I'm just one guy living on a North Georgia mountain looking at some words and pictures on a computer screen, but those colored pixels are creating a mental pattern leading me to move my fingers in such a way that new entries are showing up on my Dbourse account screen. More words and pictures, yes, but I think eventually I'll be able to acquire coffee, books, electronics, propane, food, and other goods more readily than I could before.
I just have a few thousand dollars I don't need to spend for a while, and I think that parking it in TGC shares at 7.2% is more fun than leaving it in a bank at 1.45%, or an e-gold account at -1%, or a 1mdc account at 0%. The money has to sit somewhere.
-- Patrick
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