X-Message-Number: 6630 From: Brian Wowk <> Date: Sat, 27 Jul 1996 23:57:47 -0500 Subject: Reply to Mark Mugler Yesterday on CryoNet, Mark Mugler asked some questions about suggestions I have made for making Prometheus contributions part of cryonics funding. In response, I sent the post below to the Prometheus pledgors email list (including Paul Wakfer) for comments. Paul was just on his way out the door to head back to California when he read my post and then phoned me about it. Paul asked me to pass along his regret that he could not respond personally today, but also said that he substantially agrees with my thinking below. ********************************************************************* My suggestion is that both individuals and cryonics organizations be allowed to purchase Project shares, and then either hold them for potential appreciation, or redeem them to the Project corporation in exchange for products and services. If an individual wishes to contribute via a cryonics organization, my suggestion is that the cryonics organization should then hold the shares in their patient care fund (earmarked to the contributing individual if possible). BUT THE SHARES SHOULD ONLY BE CONSIDERED *EXCESS FUNDING*, of no particular monetary value, and not considered part of minimum funding requirements. This addresses Mark's concern about member funding not depending on the speculative nature of these shares. Once minimum funding requirements in cryonics are met, all kinds of bizarre assets can be added to cryonics arrangements (real estate, art collections, speculative biotech shares, etc.) Project shares would just be another asset of this class. Finally, my original suggestion was that Project shares should be redeemable for *greater than par value* (at least twice par value) for corporation products/services. Otherwise an investment disincentive is created because non-investors would be able to buy more corporation products/services by simply putting their money in an interest-bearing account for 10 years. ---Brian Wowk Note: "Par value", for the purpose of this discussion, means the original price that was paid for shares issued by the company. Rate This Message: http://www.cryonet.org/cgi-bin/rate.cgi?msg=6630