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General Poker Discussion >> News, Views, and Gossip

Greg (FossilMan)
Pooh-Bah

Reged: 09/04/02
Posts: 1920
Loc: Stonington CT

Re: Investing in Greg - the big payoff and IRS
06/08/04 06:31 AM

I have had 4 consecutive backing deals, each for a fixed term of about half a year. At the beginning of each deal, the share price is set, with about 1/3 of the shares being bought by me. If we lost, the losses were shared equally by the shareholders. If we won, I got 35% off the top for playing time and effort, and then the shareholders split the 65% equally by shares. Each deal covered ALL of my poker for the entire term, including cash games, tourneys, and internet play.

Two years ago, 1 share cost $500. At the beginning of the last deal, each share cost a bit over $600.

Each share is now being paid over $35,000. Thus, I am paying out over $2.1 million to my backers. My largest single backer invested $5000 two years ago, and will be paid over one-third of a million dollars.

I think my only unhappy backers are the ones who invested early but cashed out along the way. There are a small handful of such individuals, as we have had a small amount of turnover (some backers out, some new ones coming in, and some investors adding to their original investment) on each new deal.

If anybody asks again, please refer them to this post for me. ;-)

later, Greg Raymer (FossilMan)

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Subject	Posted by	Posted on
Investing in Greg - the big payoff and IRS	midas	06/07/04 10:55 AM
Re: Investing in Greg - the big payoff and IRS	Greg (FossilMan)	06/08/04 06:31 AM
Re: Investing in Greg - the big payoff and IRS	TPR	06/09/04 03:17 AM
Re: Investing in Greg - the big payoff and IRS	Greg (FossilMan)	06/09/04 08:13 AM
OFFICIAL "DID FOSSILMAN HAVE BACKERS" THREAD	Sundevils21	06/08/04 02:50 PM
Greg, Let Me Just Say...	charlie_t_jr	06/08/04 02:17 PM
Re: Investing in Greg - the big payoff and IRS	J_V	06/08/04 12:41 AM
Re: Investing in Greg - the big payoff and IRS	midas	06/08/04 10:18 AM
Re: Investing in Greg - the big payoff and IRS	Toro	06/08/04 11:34 AM
Re: Investing in Greg - the big payoff and IRS	TxSteve	06/08/04 11:14 AM
Re: Investing in Greg - the big payoff and IRS	Ulysses	06/08/04 02:57 AM
Re: Investing in Greg - the big payoff and IRS	Legend27	06/07/04 02:40 PM
Re: Investing in Greg - the big payoff and IRS	Dynasty	06/07/04 06:07 PM
Re: Investing in Greg - the big payoff and IRS	Legend27	06/07/04 06:42 PM
Re: Investing in Greg - the big payoff and IRS	AceHigh	06/07/04 09:32 PM
Re: Investing in Greg - the big payoff and IRS	El Barto	06/07/04 09:36 PM
Re: Investing in Greg - the big payoff and IRS	Dynasty	06/07/04 06:48 PM
Re: Investing in Greg - the big payoff and IRS	Legend27	06/07/04 07:09 PM
Re: Investing in Greg - the big payoff and IRS	M.B.E.	06/07/04 08:42 PM
Re: Investing in Greg - the big payoff and IRS	Dynasty	06/07/04 09:09 PM
Re: Investing in Greg - the big payoff and IRS	M.B.E.	06/07/04 09:43 PM
Re: Investing in Greg - the big payoff and IRS	GWB	06/07/04 06:48 PM
Re: Investing in Greg - the big payoff and IRS	RollaJ	06/07/04 04:19 PM
Re: Investing in Greg - the big payoff and IRS	HavanaBanana	06/07/04 11:06 AM
Re: Investing in Greg - the big payoff and IRS	GWB	06/07/04 05:42 PM

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