Seriously ASIC need to look at this!, page-36

Delta , Dude

Look at my posts on this site. I only post on one thing. 1PG. Its my first love. My one true constant in this wild and crazy world. I think lots and lots and lots about 1PG.

Go read the first of the few hundred of so posts I've written on this lovely golden wonder of a stock. Never said one thing malicious. Never. Not even about the true believers.

Now, let me tell you of the wonder that is a collar. The founders friend:

One of the things that I find surprising is how confidently some of the faithful write about the "silicon valley" way of doing things. But some of the things they say make me wonder if they know what they're saying.

A collar is a case in point.

Lets put yourself in the shoes of an escrowed founder in this stock. Day one when this thing listed no one expected this thing to get to $1. NO ONE. NO ONE AT ALL. (scuse for the caps, getting all excited here).

But the founder interest in this stock by the time it got to $2 was waaaaayyyy over $150m. Freak out time. We've got $150m tied up in this thing, we dont know why or how but we have.

So need to get some scratch out. This is ok, its cool, id do this, have done this, founders do this, founders should do this. Its not a bad thing.

But cant. The stock is escrowed and its a real bad look to sell at escrow. So how do founders (legitimately) get a little downside protection?

enter the majesty of the founder loan collar. Its the silicon valley way. Totally legit. Go upon mount google and tap it out bro..

laters!!!