SeedInvest Campaign - Discussions with Richard Garriott / Lord British

In my view... It's an unknown value in any monetary value, with the KNOWN mentioned digital items guaranteed as perks, if you become an investor. Anything further than those mentioned digital items, remains speculative and unmentioned on the seed invest site.
What you see is on that site is what we get, with no promises about anything not mentioned there. But that's my personal player's opinion in having read it and I'm not connected with either company.
~Time Lord~

 

I'd recommend reading the Form C pages 26ff on the "Series B Preferred Stock". The file can be found on the SeedInvest page and includes all financial disclosures.
Short summary, in addition to the digital perks you have:

1. Dividend Rights : "Holders of Series B Preferred Stock are entitled to receive dividends pari passu with holders of Common Stock, as may be declared from time to time by the board of directors out of legally available funds. The Company has never declared or paid cash dividends on any of its capital stock and currently does not anticipate paying any cash dividends after this offering or in the foreseeable future." (Quote from Form C)
   
2. Limited Voted Rights
   
3. Right to Receive Liquidation : "In the event of our liquidation, dissolution, or winding up, holders of our Series B Preferred Stock will be entitled to receive the greater of the original issue price, plus any dividends declared but unpaid or such amounts that they would have received had all shares of preferred shares been converted to common shares. Holders of Series B Preferred Stock receive these distributions before any holders of Common Stock."
4. Conversion Rights : "The Series B Preferred Stock are convertible into one share of Common Stock (subject to proportional adjustments for stock splits, stock dividends and the like) at any time at the opton of the holder."
5. Rights under the Purchase Agreement(investors <$50k : "All Non-Major Purchasers of Series B Preferred Stock will be bound by an Investment management agreement. This agreement will limit your voting rights and at a later time may require you to convert your future preferred shares into common shares without your consent. Non-Major Purchasers will be bound by this agreement, unless Non-Major Investors holding a majority of the principal amount outstanding of the Series B Preferred Stock vote to terminate the agreement."
   

 

Portalarium's financials make sense for a private company trying to make it in the gaming industry. Not too different from junior explorers - they are dependent on cash funding. Quite frankly I consider Port less risky than junior explorers as junior explorers are entirely dependent on funding from investors and they don't have any customers, whereas Port does at least have customers. All one has to do is, is to look up some financials of listed companies that are in development/exploration stage and you will see that they are all similar in terms of cash position and have the same need for obtaining funding. These industries have risk involved - and that's it. This isn't just an issue with Port, this is an issue faced by all companies in the same stage of growth in these industries. That's my opinion anyway.

 

Thanks all. I thought what you all have explained and it cleared up the confusion I was having.

 

No you won't. By your logic this board and everything else will be gone then.

 

Just read all the posts...

Once again... It doesn't happen very often, but @E n v y and I are looking at it along the same lines...

So what of the BMC???

Say what you want to about me and this organization, despise us as much as you like, but it's moments like this that define us...

As the leader of the BMC; I can tell you that the BMC will be investing in Portalarium...

My fellow guild mates,
Now is not the time for indecisiveness.
I remember the early days down in a basement during the first releases, hunkered down, discussing our plans, answering member questions.
I remember many members asking me if an opportunity would ever surface to invest in the game instead of buying pledges and add-on store items.
I remember telling those members, to put a piece of their money in reserve...

To those BMC Members, I say this...
YOUR TIME IS NOW!
OPEN THE FLOOD GATES!
LET THE SUPPORT WATERS FLOW LIKE A MIGHTY RIVER!
WE ARE THE BMC!

 

I have already gone beyond what is sane in this game, but I am going to dig just a little deeper and help out. This is the last big push for EP1.

 

~The Fellowship is in Full Support of the BMC's Guild Initiative in Funding~
~We Urge Other Guilds to Also Take Up the Same BMC Initiative~
https://www.seedinvest.com/portalarium/series.b


~Nystal~​

 

Dara Brae already has, days ago.

 

@Duke Ezekiel Cooper I am sitting here giggling

You are so dramatic, I had a picture of you posed like Moses parting the Red Sea

 

Dramatic?
Listen sweetheart... Dramatic don't even touch it...
Try running the BMC... And I'm not even trying to pat myself on the back...

I love each and every member we have and have had in the BMC,
but leading something the size of the BMC requires a leader that can rise above all the drama that is the BMC, and be the voice of reason and direction.
It's mortal hell sometimes.
I told some of the members tonight, that I know some of them don't like me, and that's expected,
but that I believed that we were all members of the greatest organization in the game, which was met with resounding agreement.

Every guild leader that takes on the mantle of leader, MUST expect a certain amount of criticism and hate for the decisions that they make and the representation that they must uphold both from within and without of the guild that they represent...

The same is true with any other company, and that statement brings me to this...

@Stephalan, you are certainly entitled to your thoughts and inhibitions.
The rest of you, you need to understand that @Stephalan has a voice too, and make room for that voice.
You don't have to agree with that voice, but at least try to understand that voice...

@Fionwyn Wyldemane, I'm the leader of the BMC... At it's peak, it was 700 members strong in Shroud of the Avatar...
That's a lot of voices... Some agreed, some disagreed, it was very dramatic...
It is the leader's responsibility to hear all, discern what is credible and discreditable, and act in the best interests of the guild membership they are entrusted with.
Sometimes, that requires a leader to make bold statements, and enrapture the body with a esprit de corps.

Even though I am the leader of the BMC, I am tuned to other players like @Stephalan, who sound their reluctance, and I say this...
@Stephalan... Your concern is warranted... As with any venture, one must be cautious in what they will endorse and what they will not...
Can the company fail? Sure it can... Can the game fail? Likewise... Will it fail? Well, here's where the rubber meets the road isn't it?

Let's look at what we know...
The author of this post... @Lord British...
EA unseated him and pushed him out of Ultima Online after he cut a deal with them for funding of arguably, the greatest game ever built.
Not very good foresight there on LB's part was it? But then again, was it?
He is credited as the godfather of MMO's... His name alone on Shroud of the Avatar, has sent the whole gaming community into a whirlwind of speculation.
As my good friend @Lazarus Long says, "Even bad press is good press as long as your name is mentioned."
I'd say LB has accomplished that 100 fold since the 2011 interview with @Markee Dragon when it was revealed that he was making another one that would rival UO.

​

Coincidentally, @Lord British and @Markee Dragon, I'm gonna go ahead and reveal on this post that it was me that contacted you both in 2010 and suggested that interview...
It's time I come out the shadows. You can confirm or deny, it makes no difference to me. My goal has been and always will be the success of this platform.
Because quite frankly... When I came to the conclusion that the gaming world completely sucked that stormy night in 2010 at my dining room table in Texas,
I also came to the conclusion that only @Lord British could breathe fresh life into it, and he has...
That step of faith and goal is accomplished too @Stephalan...

@Stephalan, what you must really do, is ask yourself what do you believe in? Do you believe that a plain ol' guy from Texas can reach out to @Lord British on Facebook one dark and stormy night and practically beg him to put his name behind "one more" production in an attempt to save the MMO world from certain doom?
I can tell you it's true, and that I believe that he has and will continue to do so with the help of his loyal following, so that a corporate giant can never have the means or the power over him again to destroy another one of his creations... (IE. Ultima Online and Tabula Rasa; Tabula Rasa is a Latin phrase often translated as "blank slate")

@Fionwyn Wyldemane... Dramatic... *Giggles*
Love ya sweetheart...

Community... Let's do this...
Here is the opportunity before you... @Lord British has offered the deal to you that every big league corporation on the planet, would love to sink their teeth into and take the profits of his creation away from him while simultaneously stripping his creation away from him... He is offering that "hoped for" profit to YOU!!! TO SHARE WITH HIM!!!

@Lord British, I apologize if I wasn't suppose to step out of the shadows... But it's time...
The BMC will be investing...
With all of it's heart and soul...
If you go down... The BMC goes down with you...

Now that's the best I can do folks... The dots are on the page... You have to draw the lines...

With the deepest regards,
@Duke Ezekiel Cooper
President, BMC

 

1.) Where is my potato?
2.) I would be with you guys if they would take money from the EU

 

I did think this was lacking within the site, where some suggestion could be presented there of how and where to establish an "International Identity" in order to be able to open a US Bank Account. Many local banks in other nations have some offices in the USA, which could even make that proses much easier. It's my understanding that there's some papers to file which would legally enable a person of other citizenship and residing in another country to open a US Bank Account. I would have no idea what time that would take to do something like that before the offer's end.

I thought that was sadly lacking option through suggestion.

~Time Lord~

 

So single-player thrown away or what?
I anyway will ignore mp part, because of peasant/lord relations between players in future.

 

How can you. They did spend thousands of dollars to become the masters of the sandbox

 

Well maybe if stakes will be equal for all players, without lord/peasant relations, I will think about that some day.
But now I'm only interested in my own personal adventure, for quest and glory!

 

I'm with you

 

Cheers!
Soo, ehm, single-player are still there?

 

Covfefe.

 

Yes I am - and I'm not alone. Even it this forum is mostly used by the mmo lovers.