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.


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