X-Message-Number: 6471
Date: 08 Jul 96 04:44:53 EDT
From: Paul Wakfer <>
Subject: Prometheus Update #4 - Latest Total
The Prometheus Project:
Convincingly demonstrated, scientifically proven and published,
fully reversible brain cryopreservation within 10 years.
Latest Pledge Totals
As of midnight EDT July 7, 1996, the total of pledges is $130,000.00 per
year for each of 10 years. Coincidentally, both of today's pledges came along
with valuable ideas for making the pledging, and the subsequent Project
funding more flexible.
A $1,000.00 per year pledge was received from Peter Merel who announced
it in a Cryonet posting. Peter lives in Australia and is our first pledger
from outside of North America. Thanks very much Peter for showing us that
even those crazy people who live "down under" can highly value their lives:)
Peter's suggestion was that anyone making at least the minimum pledge and
signing the subsequent Share Purchase Agreement when all necessary funds have
been pledged and the project is ready to proceed, should be allowed to make
share purchases above their pledge amount at the same price as their pledged
share purchases during any of the 10 years. This suggestion is now
incorporated into the official pledging parameters and it will be enshrined
in the Share Purchase Agreement when that is written. Thanks very much Peter
for this excellent suggestion.
The second pledge was received from Edgar Swank who is President of the
American Cryonics Society. It came in a private note to me expressing ACS'
strong support for the Prometheus Project and full cooperation with the plan
for organizations with appropriate tax status to accept donation pledges, and
in turn, make share purchase pledges to the Project. Even though I accepted
Edgar's pledge as "equivalent" to $1,000.00 per for 10 years and included it
as such to generate the new total above, its form was unique and has led to
official incorporation into the pledging parameters of a method of "lump sum"
pledging. What Edgar proposed to do, and I have accepted, is to pledge
$8,000.00 all to be paid at the start of the project execution. He will still
take his shares, or ACS will take its shares if his pledge becomes a donation
pledge to ACS, at the rate of 10 per year ($1,000.00 worth). In effect, the
$8,000.00 is a loan to the company which will execute the Prometheus project,
at about 5% per year, where the loan is repaid in shares at the rate of
$1,000.00 per year. This is a very reasonable interest rate for such a loan
and the company will probably need such extra funding at the beginning to
cover startup costs.
Pledge totals in each category are now:
10 for $10,000.00 per year for 10 years,
4 for $5,000.00 per year for 10 years,
1 for $4,000.00 per year for 10 years,
6 for $1,000.00 per year for 10 years.
The total over all 10 years is now $1,300,000.00.
Who's going to be the next to show us how much a major increase in their
chance for an open-ended second "life cycle" is worth to them?
-- Paul --
!!!!! REVERSIBLE BRAIN CRYOPRESERVATION *CAN* BE ACHIEVED IN 10 YEARS !!!!!
Paul Wakfer email: Voice/Fax: Pager:
US: 1220 E Washington St #24, Colton, CA 92324 909-481-4433 800-805-2870
Canada: 238 Davenport Rd #240, Toronto, ON M5R 1J6 416-968-6291 416-446-9461
(currently in Canada)
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