The problem with Lloyds was that there was no limited liability for
debts. A UK limited liability company limits it's shareholders
liability to the assets of the company hence limited liability. In
other words you can only lose what is in the company not any assets
held outside the company. Perfect vehicle for speculative investment.
There are some other possible UK vehicles such as an EIS which may
have tax advantages along with whatever is available in the US but I
do not know enough about these to make any suggestions.
I agree that the small print should always be studied and it be made
crystal clear to all concerned what, if any risks there are.
My view is to assess if there is sufficient interest then get a
general agreement on intent and form of the company with the lawyers
making it work legally for us all at the end.
Cheers
Chris Courtiour
--- In mepbmlist@y..., "Ovatha Easterling" <ovatha88@h...> wrote:
The rule about return on speculative investments is quite true.
However, I
proffer Warren Buffet's rule "Only invest in what you know and
understand".
Anyone who reads this list has some understanding of gaming and its
financial possibilities.
The general wealth and leisure time of western socities have been
increasing
since, at least, 1950 There is no reason to expect a reversal of
that
trend. True this is a 'niche' activity but then so is kitty
litter. Sure
wish I had bought stock in that.
Personally, I would be very interested in a speculative investment
in a
limited liability, common stock company devoted to GSI and related
gaming
activity. Know what happened to the investers at Lloyd's of London
and I
would read the prospectus very carefully.
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