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Tuesday, September 11, 2007

Hours and shares

While reading comments on Agloco's official blog, I came across an interesting piece of information regarding hours and payment.

Alfred writes:

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BRYAN WARD - agloco does not have to go public for early members to be winners - when agloco starts paying monthly payments for the hours already booked then those hours will have quantifiable value. Brian has said that one thing agloco will do when it starts making payments is pay hours every month. Meaning the hours I owned in June will get paid every month after payments start.

Even if the monthly payment is 1/2 cent a month (something even the skeptics may think is possible) then My Hours from June will have significant value. If an hour will earn me 1/2 cent a month that is 6 cents a year - how much is that worth if I sell the Hour - probably more than 50 cents (even more if the 1/2cent monthly payment looks like it will rise over time.)

<...>

AGLOCO Official replied to this:

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Alfred – you are very close with your comment
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This is by no means accurate or official, but if I understood it correctly, Agloco will not "buy" hours from the members. They will pay smaller payments each month for them, much like dividends from shares. Supposedly, you will keep your hours and make money from them forever (unless you decide to sell them - but this is, again, speculation).

This way of payment is different than what I expected (withdrawing hours each month for cash). Moreover, if hours become like shares, what about real ones? It was mentioned specifically that you can earn both "cash" and "shares" for surfing. I'm not saying it's a bad idea though - it would reward members who joined early (like me!) since they would have collected more hours from the beginning.

Since I started writing about shares, I might as well voice my other concerns. I don't know much about stock market, but the idea they write in Agloco FAQ seems a bit far-fetched to me:

We are currently in the process of listing the company on the London Stock Exchange (AIM). As with any public company, the market will decide what is the fair value of the share.

There hasn't been anything said about Agloco shares on their blog for a long time. Besides, even if they do distribute company shares to members just for surfing, I'm afraid that will only happen in the bigger countries with large Agloco membership. Even the official site says so:

Some countries may be too small or legal requirements too complicated, for shares to be issued to Members in that country.

Anyone want to bet Lithuania with it's 3.4 million population falls into "too small" category?

But I'm probably getting ahead of myself. There should be an official update soon, and then in two weeks (according to this comment), another one - about member payments. Hopefully, it will shed some light on this matter.

4 comments:

House said...

Hi, nice blog. Would you like link exchange? I've already added on my blog.
My blog name: Agloco Canarias
My blog url: http://aglococanarias.blogspot.com/

Thanks and good luck!

ismabera said...

hi

Really constructive comment. You said you were expecting , that Agloco will pay hours (every month) and we shall get shares (1 share = 1 hour).
As I undestand Alfred and your comment, it will stay as it is : hours and shares. Just, for a period before Agloco will begin to pay, our hours has in a way status of 'share'.
However, let's wait what official Agloco will say - I hope in next 10 days.

cheers from Portugal

ismabera said...

sorry, i finished too soon.

If you want link excgange, here is my blog :
http://aglocoismabera.blogspot.com

just send eamil : ismabera@gmail.com

cheers

Andrew said...

Hello,
Thanks for your comment. Yes, you are right - at first I thought you could withdraw hours (I have 300, I withdraw them for cash, I have 0 hours now). But after Alfred's and AGLOCO Official's comments, it seems like you said, that hours will have a status of shares.

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