Kirk,
That was one of the toughest decisions to make, after getting confirmation that we must limit participants to 15 to remain regulation free. To allow for more participants, it would stall the venture out for months if a Commodity Pool Operator (CPO) license were applied for and acquired. And if we hold the line on the $5,000 minimum, that brings our starting capital down to $75,000, which is sizeably less than GZ had originally agreed to trade.
If enough partners are unhappy with sliding the capital starting point to $7,000, then I will be happy to discuss an alternative. One alternative could be to allow the 15 participants to begin with as little as $5,000 or as much as $10,000. The positive on this idea would be that we would probaly surpass $100,000 for the starting amount. The drawback would be that equal ownership would not exist. This alternative would not pose much more of an administrative burden, so I am very much open to this change if other prospective partners are in favor.
If 8 or more of the first 15 respondees come out in favor of this change, then I will modify the agreements to reflect this change.
Thank you,
David |
