X-Message-Number: 6538
Date: 16 Jul 96 04:49:43 EDT
From: Paul Wakfer <>
Subject: Prometheus Pledging Parameters
I have come to decisions on the following two much discussed items. With
this announcement I am making these new policys an integral part of the
pledge gathering parameters and I will also be making them part of the
business plans of the company which is formed to execute the project.
Purchase of Additional Shares by Pledgers
After reading all the postings and some private email, I have decided to
adopt a suggestion of Bruce Waugh relating to this issue. Bruce pointed out
that the standard method of making future share purchases available as a
bonus for initial investors of a company, would, in this case, be done by
issuing 10 year warrants to pledger/purchasers allowing them to purchase
additional shares up to a certain percentage of their initial purchase. The
percentage is based upon the desire for stimulation of initial or later share
purchases. I have chosen a low percentage because it is more important to
stimulate initial pledges in order to get the project started. Therefore,
based on Bruce's excellent idea, here is what I am adopting:
1. Each pledger who becomes a yearly share purchaser will each year receive
a warrant for additional share purchases at the same price of up to 25%
of that year's purchase under the terms of a prior pledge.
2. This warrant shall be be valid for 10 year less the age of the company
executing the project at the time the warrant is issued or until the
company goes public whichever comes first.
Technology Availability Including Privileges for Cryonics Organizations
This one was much tougher since I've had suggestions which cover the
entire spectrum between "making all the project technology available free to
all of mankind" to "it is fraudlent unless all technology which the company
produces is entirely and only used to produce income for the stockholders".
First, I want to clearly emphasize again, for those who are concerned,
that all technology which the company develops will be available to any
company or person through the normal market mechanisms of purchasing licenses
and paying royalties. That having been said, I am promoting this project
because I am a cryonicist and want to save my life, *not* because I am trying
to make a lot of money. (Although, since I have long ago oriented my value
structures so that I am only interested in things which have objective value
and are, therefore, likely to be very valuable to others, I am also quite
certain that this project, if sucessfull, will make me wealthy as well as
long-living.) As a cryonicist, therefore, I wish to make the technology as
available as possible to other cryonicists as possible without detracting
from the profit making potential of the initial pledgers who will be, after
all, directly responsible for the success of the project and will deserve to
reap both the material and intangible benefits of that success.
So my approach to sharing the project technology with the cryonics
organizations will be two-fold:
1) Any organization pledging (and purchasing) over $25,000.00 per year for
all 10 years (individual members buying shares directly are not included
in this total) will receive periodic research reports concerning the
progress and research results of the project. As corporate shareholders
this is priviledged information which they are allowed to use but not to
divulge or to patent. In this way the contributing organizations will be
direct, insider recipients of the technology and their patients will
benefit from it at the soonest possible moment.
2) Once any part of the company's intellectual product becomes patented,
the participating organizations will have to pay for it under same terms
as anyone else except that they will have the advantage of being able to
use the technology credits bought with their share purchases.
3) Each organization pledging (and purchasing) over $25,000.00 per year for
all ten years will be able to pay for the technology by returning
sufficient shares to the company at the value at which they were
purchased. The beauty of Brian Wowk's proposal is that the cryonics
organization win either way here. Either the company is a financial
success and its shares increase in value and it can use its profits to
purchase the technology, or the company's shares do not rise even though
some of its result are valuable for cryonics only and can be purchased
by returning shares.
-- 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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