rev. 9-11-17 We Owe yoU (WOU) N1CL units: List of Lenders, Awarded to, How buy
Saturday, June 14, 2008 (23:18:54)
Posted by admin
Why & How Do N1CL We Owe You(WOU) units work?
Since we can not issue stock without putting the share holders interests ahead of the reporters, challengers, users, readers, and Member(s) interest in protecting and maintaining the N1CL purpose to create accurate public News for everyone and anyone on Earth or for wherever the List can reach including E-Ts in perpetuity; I, Dan Alter, the present sole owner and manager decided to use promissory notes called WOUs. By excluding owners of WOUs from any ownership or controlling function this solved the conflicts of interest inherent in stock ownership; while at the same time allowing us to raise the capital needed to grow this public News interface. I got the idea from a lawyer who told me as a sole proprietorship and now as a sole owner/managed manager LLC, you can borrow money from anybody on any terms both parties agree to. Ergo N1CL WOU units.
There are 100,000,000 N1CL WOU units. That number will remain fixed in perpetuity.
8-3-17 Explains how WOUs work and a WOU owners legal recourse to collect 5% SGR '"in perpetuity". Also this section goes into both registration agreements.
"The N1CL uses We Owe You(WOUs) to borrow the money needed for Initial
and Future Capital, Research, & Start-up Operating Expenses.
These WOUs are repaid by an "in perpetuity" monthly payment of 5% of SGR divided equally
between ONLY the WOUs freely given, rewarded, or issued to borrow money from the public,
i.e. not ever given, rewarded, or issued N1CL Treasury WOUs do not receive the 5% in perpetuity.
The owners of WOUs have no ownership, voting rights, or say in
running or governing the N1CL as these WOUs are non-recourse loans.
Since the N1CL can not know in advance what SGR will be, the N1CL can not guarantee
the amount of these "5% SGR" payments, nor that the N1CL will exist "in perpetuity".
That means should the N1CL not succeed, you understand that you won't receive your "5% SGR" payments
and that in your Full Member agreement and registration agreements, you agreed not to seek legal recourse.
Also that in any purchase or transfer of ownership of a WOU it must be transferred to a registered member of the N1CL so the SGR can be paid. No transfer, payment goes to last person or persons designated.
Our success rests on your realization that we require a N1CL
to create real honest NEWS for all so we can become a civilized world.
revised 8-22-16 Change from 5% Stipulated Gross Revenues(SGR) divided between all 100 million, to only divided between those WOUs actually issued to the public by the N1CL. This will increase WOUs present value at the margin enormously.)
i.e. WOUs earn 5% of SGR in perpetuity which will be divided equally between those WOUs the N1CL issues for a loan from anyone, and/or are accepted as payment for services rendered as long as they register with the N1CL to receive the 5% SGR.
In addition, WOUs can be divided as long as the divisions are registered at time of sale with the N1CL. So in principle the number of separate parts of the initial WOUs can increase forever. An example of how you build a sound money.
You must register with a real email and address to purchase, so we can correctly pay out the 5% in perpetuity on stipulated gross revenues.
In your membership agreement, you will swear to maintain the stated purpose of the N1CL as a List of people who have agreed to answer questions from anyone according to the various membership agreements from Full Member, Yes/No person, just a questioner, or registered user. Anyone can join by so agreeing to this and the other registration agreements and conditions, in perpetuity, and that you agree not to sell or try to sell all or any part of the N1CL, or let any person(s), organizations, or let any governments diminish or interfere with everyone's right of free speech on the N1CL on your sacred honor.
We are going to thrash out how we legally maintain these conditions in perpetuity before we transfer ownership and control from my wife and I to the full members. Until we work out the full details of this transfer so that the Full Members will legally and morally run the List so as to maintain these conditions and expand its reach, hopefully to other planets, my wife and I will remain in full control. (We do need to choose a business form that does limit liability in some forms so that for example, people can not sue the List for members exercising free speech, but in a way that does not exempt members from legitimate slander or libel charges.)
An outline of our intent is as follows:
My wife's and my intent is to sell the N1CL to its voting members(only a full member who has agreed to answer questions from anyone) for $5 a full member paid from initial joining payment for 100 years from the date the first person or organization becomes a Full Member paying $25 a month. Then we and our estate will receive 2% of gross revenues as defined above for the 100 years including after ownership is transferred.
Before and after transfer, all full members must agree to never break up, sell the N1CL in whole or part, or modify the right of ANY RATIONAL SENTIENT BEING to speak, question, complain, etc, join as a full member, just register, or any other form of membership. However this does not mean your use of the List can not be restricted or barred for overt acts of jerkiness for up to seven years, however even barred, you can always post warnings or ask for help. Admins decisions in this regard can be appealed through the N1CL appeals process, loser pays costs.
My wife and I will retain full ownership and control until both of us are dead which will force ownership transfer on the above terms; or until we do the ownership transfer which we both devoutly intend to make happen while we are both still alive. We are shooting for August 16, 2024. This transfer plan means we can not sell the N1CL as we already have agreed to sell it to the Full Members, nor issue stock or any other form of security that implies an ownership control by anyone except the Full voting members. We, of course, can borrow short term in other ways besides WOUs as long as control of N1CL is not potentially encumbered. Right now the N1CL has no debt, nor do we intend to take on any except for normal banking purposes.
Before transfer of ownership we intend to keep operational control of the N1CL in the hands of a CEO, Captain, or List Keeper. For now that is Dan Alter. After transfer this person will be subject to election or removal by a censure election, or election from a seven member counsel. The List Keeper is mandated to protect the N1CL purposes and direct where to spend its profits and revenue stream so as to maintain life and the N1CL news exchange for all. For now the List Keeper shall control and spend at their direction 50% of profits to grow the List on Earth and off, the other 50% to be split among members equally without regard to WOUs owned. In an emergency the List Keeper may suspend profit payments to members solely at their discretion. I think events and members criticism and suggestions will guide and refine our actions in this regard, so we come up with a good "constitution" for the List.
Again WOUs will be repaid with 5% of N1CL stipulated gross revenues in perpetuity = forever only to those WOUs sold, paid, or issued to the public. Stipulated gross revenues = the $25 a month member fee plus ad revenues and other normal revenues. Other normal revenues will be determined by experience. e.g. not paid on interest from money in N1CL bank accounts, but yes on the 10% we add to any transaction costs we incur performing for example, an appeal. These monthly fees may change, but the 5% always applies to the gross.
Payments of the 5% will be denominated in USA dollars or whatever currency was used to lend us money by buying or performing a service for the WOUs less currency transaction costs. Should we increase membership fees, then the 5% will reflect this increase when collected. In short, the stipulated gross revenues are based upon whatever the member joining fee is, plus the monthly dues, ad revenues and other normal revenues. There will be no special breaks for any members, we all pay the same, except for hardship exceptions. Even broke your right to speak to all and answer questions will be protected.
When do we pay the 5% of defined gross revenues?
The 5% will be collected and paid on the 2nd Friday of the following month. A $1 minimum payment credited for free to your n1cl account upon request. Payments to any other electronic account of your choosing are less any actual transaction charges for the transfer. The N1CL adds 10% to any actual transaction costs for its costs.
Amounts less than $1 will be accumulated in the members name and starting after the month collected will share proportionately in any interest earned by this "unpaid 5% account". No interest on amounts under $10. WOU owners may choose to accumulate their share of the 5% in a 'paid on demand' account.
We have one WOU lender at present. I refused to continue using WOUs to borrow money with until the patent was issued and the N1CL was operational. Our first lender paid $2 each thus the N1CL is worth at least $200,000,000 dollars based upon last market price paid.
I also award them as rewards to those who have made good suggestions, etc, towards building the N1CL.
We have and will continue to reward 'paid developers and programmers' with them. See List of payments below.
Who owns remaining WOUs not bought before ownership transfer? Up to then my wife and I do, we want to use as few as possible before the transfer so List will have a growing capital position for future expansion. My wife and I are going to charge ten million or 10% of the 100 million WOUs for ourselves for creating the N1CL. One fifth or 2% of that 10% gets its stipulated 5% share. The other 8% does not share in the 5% shared between the public issued WOUs.
So the 5%is not shared by the remaining WOUs not publicly offered by the N1CL nor is the 5% shared with my wife and my 8%. These WOUs must remain as capital for the List. For now control of this capital will be under my wife and my control to be used as we see fit to promote the good of the N1CL.
Right now given a one million public offer plus those WOUs already given out coupled with Margaret and Dan's 2% means at most 4% of total WOUs will share in the 5% of stipulated gross revenues.
1. Andy Wood in 2006 lent $5000 for 2500 N1CL WOU units.
I have lost touch with Andy. He moved out of Seattle and did not tell me where. He was a bookkeeper. He had a son in the air force, officer and flier, married w. kids as I remember, stationed in Utah. Andy would be 66 now(2011). 500 WOUs to anyone who finds him.
AWARDED WOU units
60,000 WOU units to Dennis Morgan, my first programmer. He built first working model N1CL and the died, a massive coronary just as we were to go Beta. We worked out many of the details.
100 WOU units to Mark Guadelupe: For suggesting CPG Dragonfly. Without its built in functions it would have been far too expensive to build the software.
100 WOU units to Mark Guadelupe: For finding the open source "handclasp logo".
100 WOU units to B. Mcmahan for helping with creating 'Questions From Anyone
Answers For All'
100 WOU units to Marko for his great question:"How many ways to end Dialogue?".
100 WOU units to A. Zosa for being patient and a very competent sys admin.
100 WOUs to A. Zosa 02-05-10, switching Backup around.
100 WOU units to Carl Gilliam for putting headline above box on Page 1 instead of inside at top. My ambiguous instruction led to perfect place for Headline that tied into instructions etc in box below.
1500 WOU units 8-1-09 to Marko for installing Q&A and beginning debug.
12-19-09 100 WOU to Marko, we worked out more on Q&A, he is starting to see it more clearly. when we finish this stage, a nice bonus for him.
12-19-10 500 WOUS to Albert Zoza for monitering and transferring servers at M-5
05-07-11 150 WOUs to Albert Zoza for fixing registration problem.
06-01-11 100 WOUs to Albert Zosa for fixing bolding and explaining how.
07-2-11 50 WOUs to Al for removing 1 year back up from dedicated servers.
07-18-11 100 WOUs to Al for working on Backup.
09-20-11 50 WOUS to Carl Gilliam for good ideas on buttons.
2-06-12 150 WOUs to Albert Zosa for making Ded Now our production server to hold 30 days Backup then sending 31st day and on over to M5 for permanent complete BU.
2-24-12 100 WOUs to Al for fixing mail bug.
5-11-12 150 WOUS to Albert Zosa doing M5 upgrade.
6-1-12 100 WOUs to Daniel Sullivan for fixing Paypal. 2 hours.
8-29-12 100 WOUS to Daniel Sullivan for consult on Vanilla and changing look and feel of site.
8-29-12 100 WOUS to Albert Zosa for creating May 20, 2012 test site from Backup.
5-11-13 I forgot to add, 100 WOUs to Al in January
100 WOUs to Al in March.
5-11-13 500 WOUs to Marco for switch over servers and q&a fix.
150 WOUs to Al for helping switch over etc.
100 WOUs to Carl for a good disagreement.
7-30-13 50 WOUs to Al for setting up email system for n1cl.
1-29-14 200 WOUs to Al for responding quickly throughout year.
1-30-15 200 WOUs to Al for answering quickly throughout year..
8-22-15 300 WOUs to Al helping with our upgrade problems.
12-18-15 1000 WOUs to Al a for work on site with Christmas bonus.
9-11-17 400 WOUs to Albert for work on site.