Main Site | Join Robin Hood Coop | Projects | Events | Blog | Media | Forums | Mailing List | Twitter | Facebook

FAQ on refinancing

In the AGM 2019 the coop decided to launch a refinancing campaign.

FAQ

Why refinancing?

The coop is out of funds and the member pages are still unfinished.

What is the target?

30 000 € by the and of February

What do I get?

Each one voluntary share (30€) gives an additional voluntary share. Two for the price of one!

What happens, if the target is not met?

If the target amount is not reached, the capital will be returned to the investors (like in a crowdfunding campaign.

What happens if the goal is met?

The board gathers a team of volunteers to prepare the implementation plan and work on the implementation to finalize the new member platform, the member registry, tokens representing the shares to be distributed to all members according to ownership, opening a peer-to-peer trade for the shares, and opening the cooperative for new
members.

The task force is open for anybody to participate and help.

How is the money used?

The use of the collected resources is allowed only to budgeted purpose and is controlled by the
board and reported live on a shared excel-sheet to the members.

How is this decided?

The cooperative calls for an extra general meeting to be held on the 15.3.2020. The agenda is to
approve the detailed action plan, the budget and the organization for the finalization of the platform
or, if the target amount has not been reached, or if the plan is not approved, move to closing the
cooperative.

If I don’t invest in the current campaign and the coop doesn’t reach the goal by end of February will I lose my initial investment?

Unfortunately, yes, if the coop decides to close itself down, as proposed in the AGM 2019.

Do I have to invest to keep my current investment in the coop?

The crucial question is if the coop continues or not.

If the coop is closed down, everyone loses the value of their shares.

If the coop continues, the shares may again gain value.

Whether the coop continues or not depends on the decision by the coop’s members.

Currently the proposal is that if the coop does not get 30 000 € refinancing by end of February, it will decide to close down in the member’s meeting in March.

So collectively the coop members (current and new ones) need to raise 30 000 € to continue.

The value of the share is dependent on the success of the refinancing, but what happens to the value of the shares of an individual member is not directly dependent on whether that individual member invests or not

Hey,
if i’d buy shares with btc, how exact would i have to calculate the share price? will you calculate partial shares, or refund the leftover in btc or eur?

Thanks, that is a good question. Here is the protocol:

  1. We will use the BTC/EUR rate of the day & time of your purchase.

  2. Send an email to contact@robinhoodcoop.org confirming that you are about to make a BTC transaction for X shares.

  3. We will send then the estimate BTC price/share that will be used that day to you.

  4. When your transaction has confirmed we will refund any leftover back to your BTC address.

ok, what happens if the funding goal isn’t reached? will you refund euro or will you then buy back btc to that course and refund btc? or will you refund the same amount of btc?
given the volatility it probably does not make sense to hold on the the btc after a member transfers it to you. but given the risk of the funding goal not being reached, would it make sense for me to wait until the last possible moment to make my commitment?

Very good question.

Maybe the easiest would be just to let us know via contact@robinhoodcoop.org that you are willing to contribute and how much, and then when we know if the target is going to be reached, we can agree on the amount & moment of transfer.