Loomio
Thu 14 Feb 2019 4:07AM

Share issue in LBPL and related considerations.

DC Dean Cameron Public Seen by 135

Now we have ruled a line under the old google ownership tracking spreadsheet. i have tidied it up and removed extraneous stuff and sheets for people who are not likely to be members. Please check over the sheet as there are some important changes to bring it in line with what we have agreed to as a group . in particular the 40-hour membership contribution, the $50 membership fee (deducted off contributions) the claiming of a proportion of rent representing the amount of AUD capital that has been paid down to 30 Jan 19. I have spent hours this morning reconciling the Bank statements with payments received into the account and checking over expenses claimed. i think all is in order. Sun had missed a few payments for equipment and repairs so i have included these. - please all check over for a final time as tomorrow is the cut off date for any changed. the sheet will be locked as a PDF record of the past tomorrow and this will be the basis for issuing shares in LBPL. before the shares can be issued you will all have to agree to the LBPL constitution I'm going to attach here. share transfer date will be early April. Unless we get advice from our accountant otherwise, One share will be issued for each $100 in calculated equity so there should not be any real issues with Transfer duty. I think its only an issue for capital gains when shares are sold not for issuing them.

DC

Dean Cameron
Agree
Thu 7 Mar 2019 9:57PM

Its impossible to determine the initial equity split until we can finalise the equity spreadsheet.