 | View Full Version : Congratulations, Alex and Ventures Online! Timothy 06-03-2002, 12:09 AM I would just like to take this opportunity to publicly congratulate Alex and SuccessfulHosting for just acquiring 20% ownership stake in Ventures Online. I’m sure it’ll bring many very successful and interesting things to him in the years to come. Congratulations! :) rockergrrl 06-03-2002, 12:13 AM Congrats Alex and SuccessfulHosting.com on your new ownership. May you make the world a better place.... ;) DanielP 06-03-2002, 12:14 AM Indeed, congratulations May you be more successful than I at owning that 20%. tubedogg 06-03-2002, 12:14 AM Congrats! :) trelane 06-03-2002, 12:15 AM This should be interesting... Chicken 06-03-2002, 12:19 AM Originally posted by Timothy I would just like to take this opportunity to publicly congratulate Alex and SuccessfulHosting for just acquiring 20% ownership stake in Ventures Online. I’m sure it’ll bring many very successful and interesting things to him in the years to come. Congratulations! :) Let's keep on the thread title. Last time one of these 'congrats' posts was posted it turned ugly and had to be locked. Yes, I know, nothing bad has been posted *yet* -just a reminder, that's all. :D And congrats... f5hosting.com 06-03-2002, 12:29 AM Way to go Alex and Co.! Aussie Bob 06-03-2002, 01:21 AM and congrats too to DanielP for selling it. :) Jag 06-03-2002, 02:18 AM Has he been voted in by the other members of the Venture Online LLC to be a member himself or does he only retain 20% finacially so far? rockergrrl 06-03-2002, 02:46 AM If I'm not mistaken, since VO is Inc'ed in OR (which I think is true), he doesn't have to be voted in. If shares are sold, he's in without voting. And neither can the other 4 vote him out of the company either... The good and bad of Inc'ing in Oregan. alpha 06-03-2002, 02:52 AM I'm not too sure about business titles - but Ventures Online is a Limited Liability Corporation and don't think its Incorporated.... unless LLC and Inc. is same thing (which I highly doubt). but as I said, I'm not to sure about differences in most business titles. ;) Jag 06-03-2002, 03:35 AM VO is an LLC not a S corporation. His 20% of VO does not grant him any control, power, or ability to make decisions for the company unless he is voted in as a member of the LLC. Only the existing LLC members can vote him in, membership can not be transferred with shares/ownership. That being said, without being a member of the LLC and only owning 20% shares he is entitled only to any financial distributions. If they sell VO he would get 20%, if for some reason members are forced to pay up the debts he pays 20%, and if they pay out dividends then he would take his share of that. |