May 2002
- Random Resets John Robert Arras
- Random Resets Kwon Ekstrom
- Random Resets John Robert Arras
- [MLP] The use of ecology models Rayzam
- Interesting things to do (was: Player Accounts on a Non-Commercial MUD) John Buehler
- Apple WWDC? amanda@alfar.com
- Apple WWDC? Nathan F. Yospe
- Apple WWDC? Amanda Walker
- Apple WWDC? Sasha Hart
- Apple WWDC? amanda@alfar.com
- Apple WWDC? Brian Hook
- Apple WWDC? John A. Bertoglio
- Apple WWDC? Daniel.Harman@barclayscapital.com
- Apple WWDC? Matt Mihaly
- Apple WWDC? shren
- Apple WWDC? Matt Mihaly
- Apple WWDC? John A. Bertoglio
- Apple WWDC? James Edward Gray II
- Apple WWDC? Brian Hook
- Encouraging groups without grouping Brian 'Psychochild' Green
- Introduction and My solution to Powergamers, Treadmills, and Content Devaluation. Ken Raisor
- The audience is the medium. For now. John Szeder
- The audience is the medium. For now. John Buehler
- The audience is the medium. For now. Damion Schubert
- The audience is the medium. For now. Ted L. Chen
- The audience is the medium. For now. Shane Gough
- The audience is the medium. For now. Michael Tresca
- The audience is the medium. For now. Ted L. Chen
- The audience is the medium. For now. Marian Griffith
- The audience is the medium. For now. Vincent Archer
- The audience is the medium. For now. Damion Schubert
- The audience is the medium. For now. David B. Held
- The audience is the medium. For now. Ted L. Chen
- The audience is the medium. For now. Marian Griffith
- The audience is the medium. For now. F. Randall Farmer
- The audience is the medium. For now. J C Lawrence
- The audience is the medium. For now. Frank Crowell
- Ownership of characters Jasper McChesney
- Explorers? (Was: Codename Blue & Facets - Nick Yee's new studies) Brian 'Psychochild' Green
- Befriending Critters (was: Random Resets) Arthaey
- Questions about server design Ben Chambers
- Questions about server design Michael Bayne
- Questions about server design Sean Middleditch
- Questions about server design Mike Shaver
- Questions about server design Kwon Ekstrom
- Questions about server design szii@sziisoft.com
- Questions about server design F. Randall Farmer
- Questions about server design James Edward Gray II
- Questions about server design Shane Gough
- Extensibility Ben Chambers
- Extensibility Ammon Lauritzen
- Extensibility Kwon Ekstrom
- Extensibility Ben Chambers
- Extensibility "Christopher {siege} " OBrien
- Extensibility Sean Middleditch
- Extensibility Sean Kelly
- Extensibility John Buehler
- Extensibility shren
- Extensibility John Buehler
- Extensibility szii@sziisoft.com
- Extensibility John Buehler
- Extensibility szii@sziisoft.com
- Extensibility Mike Shaver
- Question: Any published research on Sims type game personae? susan wu
- [MLP] Why care about levels? (was: The use of ecolo Richard Woolcock
- [MLP] Why care about levels? (was: The use of ecolo gy models) Jon Lambert
- Component Design (was: Extensibility) Scion Altera
- [BIZ] Selling Stock (formerly Blacksnow revisted ) Robert A. Rice, Jr.
Matt Mihaly wrote:
> Amanda Walker wrote:
> Selling shares in a company requires spinning off your game into a
> separate company, registering with the SEC, and then abiding by
> the -numerous- rules regarding stock transactions.
You don't have to spin your game off into a separate company unless
you wish to do so to avoid equity dilution in the primary
company. However, anyone considering this should consult with an
attorney first if you have any debt on the books. You risk being
sued if it appears you are divesting the assets of your company to
avoid their exposure to creditors seeking payment on outstanding
debt.
>> Yes and no. You can incorporate and sell stock without
>> registering those shares or listing them on any market. Most of
>> the rules apply to what the stockholders can or can't do with the
>> shares. You would have to file an annual report and other such
>> stuff, of course.
Yes, of course you can incorporate and sell stock, however as Matt
noted, there are numerous rules and restrictions regarding
this. Offering stock in a company to the general public (such as
listing on a website that you are selling x shares for y dollars) is
considered a "public offering" and if this is not registered
appropriately with the SEC, there can be very heavy penalties
against the company and its officers from the SEC. Rules governing
shareholder rights and share transference are usually specified by
the shareholder agreement.
There are exemptions to the Registration requirement under
Registration D of the Securities Act of 1993. Some of the
Registration D (commonly referred to as Reg D) exemptions have
restrictions that include the number of investors, the amount of
money raised within 1 year, and the type of investor (usually
"accredited" which is defined as (if memory serves) as an investor
with a net worth of $1M or that has a gross income of over $250k per
year).
To further complicate things, you must comply with State securities
laws in addition to federal laws, and many of the States require a
"blue sky" filing before you are allowed to approach someone to
invest in your company. By the way, giving someone a copy of your
business plan can be -considered- making an offer depending on the
context of the situation. An attorney neglected to tell me this in
one of my first ventures and it caused us one expensive problem to
fix since we made more "offers" than our exemption allowed.
No matter how you slice it, unless you have a formal public offering
(IPO), you can't get around the laws and offer stock in your company
to gamers in a public setting (If there is someone here with
experience to the contrary, I would love to hear from you how you
did it). There are plenty of other creative ways to raise money
without selling stock.
By the way, I am not an attorney, but I have raised a fair amount of
money over the years from private investors, and I know how the
process works. My best advice is to get a corporate attorney
familiar with the process if you are looking to raise money from
private investors or venture capitalists. There are a lot of other
issues to consider beyond the SEC laws.
Shameless plug: I do business consulting on the side if anyone is
looking for help with business plans and fundraising.
Some Resources:
http://www.sec.gov
http://www.seclaw.com/Welcome.shtml
Regards,
Robert Rice
President/CEO
www.zreality.com
robert@zreality.com - Games are Hot. Period Michael Tresca
- Games are Hot. Period Gladimir
- Games are Hot. Period Richard Aihoshi aka Jonric
- Games are Hot. Period Freeman, Jeff
- Games are Hot. Period Richard Aihoshi aka Jonric
- Games are Hot. Period Koster, Raph
- Games are Hot. Period Vincent Archer
- Games are Hot. Period Richard Aihoshi aka Jonric
- Games are Hot. Period Matt Mihaly
- fun Matt Mihaly
- [TECH] Shortest Path William Murdick
- [TECH] Voice in MO* - Phoneme Decomposition and Reconstruction Ted L. Chen
- [TECH] Voice in MO* - Phoneme Decomposition and Reconstruction John Buehler
- [TECH] Voice in MO* - Phoneme Decomposition and Reconstruction Ted L. Chen
- [TECH] Voice in MO* - Phoneme Decomposition and Reconstruction Eli Stevens
- [TECH] Voice in MO* - Phoneme Decomposition and Reconstruction Jon Leonard
- [TECH] Voice in MO* - Phoneme Decomposition and Reconstruction Hans-Henrik Staerfeldt
- [TECH] Voice in MO* - Phoneme Decomposition and Rec onstruction Robert Zubek
- [TECH] Voice in MO* - Phoneme Decomposition and Rec onstruction ceo@grexengine.com
- [TECH] Voice in MO* - Phoneme Decomposition and Reconstruction Hans-Henrik Staerfeldt
- [TECH] Voice in MO* - Phoneme Decomposition and Reconstruction Ted L. Chen
- [TECH] Voice in MO* - Phoneme Decomposition and Rec onstruction Koster, Raph
- [TECH] Voice in MO* - Phoneme Decomposition and Rec onstruction lynx@lynx.purrsia.com
- [TECH] Voice in MO* - Phoneme Decomposition and Reconstruction Ted L. Chen
- [TECH] Voice in MO* - Phoneme Decomposition and Reconstruction Rudy Neeser
- [TECH] Voice in MO* - Phoneme Decomposition and Reconstruction Matt Mihaly
- [TECH] Voice in MO* - Phoneme Decomposition and Rec onstruction Daniel.Harman@barclayscapital.com
- [TECH] Voice in MO* - Phoneme Decomposition and Reconstruction John Buehler
- [TECH] Voice in MO* - Phoneme Decomposition and Reconstruction Ted L. Chen
- [TECH] Voice in MO* - Phoneme Decomposition and Reconstruction Mike Shaver
- [TECH] Voice in MO* - Phoneme Decomposition and Reconstruction John Buehler
- [TECH] Voice in MO* - Phoneme Decomposition and Reconstruction amanda@alfar.com
- [TECH] Voice in MO* - Phoneme Decomposition and Rec onstruction Koster, Raph
- [TECH] Voice in MO* - Phoneme Decomposition and Rec onstruction Steve {Bloo} Daniels
- Combat with Style (was Player Accounts on a Non-Commercial MUD) lynx@lynx.purrsia.com
- Playskins Koster, Raph
- People were talking about resets.. Anderson, David
- People were talking about resets.. Sasha Hart
- People were talking about resets.. Anderson, David
- People were talking about resets.. John Buehler
- People were talking about resets.. Anderson, David
- People were talking about resets.. Arnau Rossell=?US-ASCII?Q?=F3?= Castell=?US-ASCII?Q?=F3?=
- People were talking about resets.. shren
- People were talking about resets.. Anderson, David
- People were talking about resets.. David B. Held
- People were talking about resets.. shren
- People were talking about resets.. Anderson, David
- People were talking about resets.. Michael Tresca
- People were talking about resets.. Fred Clift
- People were talking about resets.. Lars Duening
- People were talking about resets.. Michael Tresca
- People were talking about resets.. Rayzam
- People were talking about resets.. Matt Mihaly
- People were talking about resets.. Tand'a-ur
- People were talking about resets.. John Buehler
- People were talking about resets.. Leland Hulbert II
- People were talking about resets.. lynx@lynx.purrsia.com
- People were talking about resets.. Jason Murdick
- People were talking about resets.. Jeff Lindsey
- People were talking about resets.. Ben Chambers
- People were talking about resets.. Sasha Hart
- People were talking about resets.. David B. Held
- People were talking about resets.. Sasha Hart
- People were talking about resets.. Anderson, David
- People were talking about resets.. David B. Held
- People were talking about resets.. Acius
- People were talking about resets.. Marian Griffith
- Question about copyovers. Anderson, David
- Question about copyovers. Tand'a-ur
- Question about copyovers. Anderson, David
- Question about copyovers. Kwon Ekstrom
- Question about copyovers. Adam
- Question about copyovers. Oliver Jowett
- Question about copyovers. Kwon Ekstrom
- Question about copyovers. Lars Duening
- Question about copyovers. Jon Lambert
- Question about copyovers. fred@clift.org
- Question about copyovers. Zach Collins {Siege}
- Question about copyovers. Smith, David {Lynchburg}
- non-violent activities (was People were talking about resets..) Ammon Lauritzen
- References on personality and emotion models Robert Zubek
- Multimodal interface conference. Rayzam
- Hyperbolies R Us shren
- Hyperbolies R Us Matt Mihaly
- TECH: Systems Administration Issues Thomas Leavitt
- Questions about ... XML as data format Adam
- Questions about ... XML as data format Anderson, David
- Questions about ... XML as data format Kwon Ekstrom
- R&D Matt Mihaly
- Conversation logs? Robert Zubek
- Conversation logs? Rudy Fink
- Conversation logs? Vincent Archer
- Conversation logs? Shane Gough
- DGN: Elastic Advancement in MUDs? Jeff Lindsey
- DGN: Elastic Advancement in MUDs? David B. Held
- Building histories off civilizations automatically adam Martin
- ADMIN: Virii and mail forgeries J C Lawrence
- Hi from the Dragon Empire's CLM Peter Tyson
- Linux gaming ( was Apple WWDC? ) Kevin Mack
- [TECH] Preferred LPC replacement? Jeff Bachtel
- [TECH] Preferred LPC replacement? Damion Schubert
- Who `owns' conversation logs? Joshua Judson Rosen
- The Online Gaming Life for Me! Michael Tresca
- Boredom Ben Chambers
- Law of Diminishing Marginal Utility [was Boredom] Ron Gabbard
- Law of Diminishing Marginal Utility [was Boredom] Caliban Tiresias Darklock
- "MMOG" Bible Brian 'Psychochild' Green
- "MMOG" Bible David Kennerly
- TECH: Single process v.s. multi process? Philip Mak
- TECH: Single process v.s. multi process? Smith, David {Lynchburg}
- TECH: Single process v.s. multi process? Bruce Mitchener
- TECH: Single process v.s. multi process? Bruce Mitchener
- In defense of "soloability" [was Law of Diminishing Marginal Utility] Clay
- In defense of "soloability" [was Law of Diminishing Marginal Utility] apollyon
- In defense of "soloability" [was Law of Diminishing Marginal Utility] Caliban Tiresias Darklock
- In defense of "soloability" [was Law of Diminishi ng Marginal Utility] Koster, Raph
- In defense of "soloability" [was Law of Diminishing Marginal Utility] Michael Tresca
- In defense of "soloability" [was Law of Diminishing Marginal Utility] Paul Schwanz
- In defense of "soloability" [was Law of Diminishing Marginal Utility] Martin C. Martin
- In defense of "soloability" [was Law of Diminishing Marginal Utility] Dave Rickey
- In defense of "soloability" [was Law of Diminishing Marginal Utility] Sanvean
- In defense of "soloability" [was Law of Diminishing Marginal Utility] Matt Mihaly
- In defense of "soloability" [was Law of Diminishing Marginal Utility] Michael Tresca
- In defense of "soloability" [was Law of Diminishing Marginal Utility] Kwon Ekstrom
- In defense of "soloability" [was Law of Diminishing Marginal Utility] Ron Gabbard
- Game shows Peter Tyson
- What keeps people interested in social muds? Martin C. Martin
- What keeps people interested in social muds? Rudy Fink
- What keeps people interested in social muds? Martin C. Martin
- What keeps people interested in social muds? Joshua Judson Rosen
- What keeps people interested in social muds? Ron Gabbard
- What keeps people interested in social muds? Marc Bowden
- What keeps people interested in social muds? Joshua Judson Rosen
- What keeps people interested in social muds? lynx@lynx.purrsia.com
- What keeps people interested in social muds? Richard A. Bartle
- What keeps people interested in social muds? Martin C. Martin
- What keeps people interested in social muds? Richard A. Bartle
- New Beginings Drylar Levre
- New Beginings Acius
- New Beginings ceo@grexengine.com
- New Beginings Bruce Mitchener
- New Beginings David B. Held
- New Beginings Kwon Ekstrom
- New Beginings David B. Held
- New Beginings Kwon Ekstrom
- New Beginings Sean Kelly
- New Beginings Lars Duening
- New Beginings David B. Held
- New Beginings Lars Duening
- New Beginings Bruce Mitchener
- New Beginings David B. Held
- New Beginings Kwon Ekstrom
- New Beginings Paul Schwanz
- New Beginings Zach Collins {Siege}
- New Beginings Miroslav Silovic
- New Beginings David B. Held
- New Beginings Draymoor a Vin il'Rogina
- New Beginings David B. Held
- New Beginings Kwon Ekstrom
- New Beginings Bruce Mitchener
- [DGN] Creating a MUD Richard Krush
- [DGN] Creating a MUD Acius
- [DGN] Creating a MUD Caliban Tiresias Darklock
- [DGN] Creating a MUD Edward Glowacki
- [DGN] Creating a MUD Kwon Ekstrom
- [DGN] Creating a MUD Edward Glowacki
- [DGN] Creating a MUD Fred Clift
- [DGN] Creating a MUD David Bennett
- [DGN] Creating a MUD fred@clift.org
- [DGN] Creating a MUD Damion Schubert
- [DGN] Creating a MUD Taylor
- [DGN] Creating a MUD Matt Mihaly
- [DGN] Creating a MUD Daniel.Harman@barclayscapital.com
- On the creation of constructive/social behaviours in online games! Marc Demesel
- [DGN] MUD Books James Edward Gray II
- [DGN] MUD Books Scion Altera
- [DGN] MUD Books Jeremy Noetzelman
- [DGN] MUD Books Tand'a-ur
- Positive reinforcement for socializing [was In de fense of "soloability" ] Jeff Lindsey
- Character skill distribution and trade-offs Ron Gabbard
- Character skill distribution and trade-offs Daniel.Harman@barclayscapital.com
- Character skill distribution and trade-offs Vincent Archer
- Character skill distribution and trade-offs Daniel.Harman@barclayscapital.com
- Character skill distribution and trade-offs John Buehler
- Character skill distribution and trade-offs Sean Kelly
- Character skill distribution and trade-offs Ron Gabbard
- Space partitioning, R-Trees? Dread Quixadhal
- Space partitioning, R-Trees? Daniel.Harman@barclayscapital.com
- Space partitioning, R-Trees? Hans-Henrik Staerfeldt
- Space partitioning, R-Trees? Crosbie Fitch