Shareholder Vote: Membership Shares
š« creating privileges for shareholders with a new class of share
Hello Shareholders!
Well, hello shareholders but mostly non-shareholders. I have 1,194 shareholders but there are 3,582 people subscribed to this list. I expect many of those people have created an account on KmikeyM, and some may have bought and sold in the past, and maybe theyāre just waiting for the price to dropā¦ but the majority of readers donāt own a share.
Last year we made it easier to buy shares. This page lets someone buy immediately and then it automatically creates an account. So much better!
And Iāve also gifted shares to people I work with and admire, hoping to entice them to buy a few more and do a little trading. I tend to think of everyone who is interested in this experiment as a part of the KmikeyM community, but Iād like to make it more official with this new proposal for Membership Shares.
Membership Shares are a new class of KmikeyM shares. Each shareholder can only have one of them, and this share is what will grant access to much of the functionality of KmikeyM. And also, this share can not be sold or traded away. Itās a permanent fixture of each shareholder account.
You can read more about it and ask questions or leave comments on the voting page. But the reasons for this are:
Build a sustainable Membership program
Have non-public facing discussions with shareholders
Reduce the liabilities of being a publicly traded person
Membership Has Itās Privileges1
Weāve been talking a lot about creating a sustainable path for KmikeyM as we get ready for Build Week (our annual focus on the tech platform and building new features). And while we have a lot in store, this is a change that needs shareholder support, as what weāre proposing is essentially a one share āfeeā to join the platform. And that fee only works as a non-transferable share, a new kind of share that is locked into the account and allows access.
Right now the share price is moving between $5.26 and $6.38. While thatās a small amount for each shareholder, an amount that still allows them access to vote and read the discussions, it creates more than $6,000 of immediate value for KmikeyM, which will continue to rise with the number of shareholders and with the share price.
KmikeyM has always been an experiment in community and capitalism that takes corporate concepts and tries applying them to personal aspects of life. This vote is an extension of that experimentation with the first special class of a new kind of share.
We hope youāll support this effort at creating a sustainable community by voting yes and of course, by buying more shares. :)
Profitably Yours,
-K. Mike Merrill
American Express gave up the trademark for this slogan which seems like a mistake. Itās a good slogan!