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  #34  
Old 11-01-2005, 10:56 PM
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Default Re: No more Pokershare for Americans

So there goes my trust for UB. My thoughts are that the pokershare business model caused major concenrs that they were violating US securities laws (US owners owning an equity stake in a non us company that is not registered with the SEC as a foregin issuer = not legal lol). The problem witht his thought is that sharepoints were not true equity stakes. There were no voting rights or management rights associated with the "shares" which is the most fundamental right associated with equity ownership. The "dividends" were not really dividends, but rather they were a form of profit sharing. I'm not about to get all nerdy and analyze whether these paymetns are legal under US securities laws, but my guess is that the SEC thinks not. I wonder if I'll receive my somewhat substantial dividend for my play in the last quarter. I hope so, but an not very optimistic.

On a side note, what is the best site to play at ( one that a reputable source offers rakeback on obviously) that has a lot of players registered? Any thoughts?

Ryan
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