Human IPO: Man Sells Himself for $10,000 | Page 2 | TigerDroppings.com
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OnTheBrink
Alabama Fan
TN
Member since Mar 2012
4600 posts

re: Human IPO: Man Sells Himself for $10,000

quote:

I wonder what the NCAA would do if a 5 star athlete did that?


That would be awesome if athletes could do that!


white perch
Northwestern St. Fan
the bright, happy side of hell
Member since Apr 2012
3764 posts
Online

re: Human IPO: Man Sells Himself for $10,000
Could I make a mutual fund of upper middle class kids in catholic school.



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Putty
LSU Fan
Member since Oct 2003
21814 posts

re: Human IPO: Man Sells Himself for $10,000
quote:

same thing happens with unsecured debt


solid logic


joeytiger
LSU Fan
Denham Springs
Member since Jul 2012
3920 posts

re: Human IPO: Man Sells Himself for $10,000
Pretty innovative and interesting idea.


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C
LSU Fan
The Woodlands, TX
Member since Dec 2007
23092 posts
Online

re: Human IPO: Man Sells Himself for $10,000
quote:

chapter 7...reset....thanks for the free money.


would a judge actually let you go through ch 7 though if you are profitable?


white perch
Northwestern St. Fan
the bright, happy side of hell
Member since Apr 2012
3764 posts
Online

re: Human IPO: Man Sells Himself for $10,000
quote:

chapter 7


OK, for all us non financial lawyer guys, WTF is this



ZereauxSum
LSU Fan
Lot 23E
Member since Nov 2008
10176 posts

re: Human IPO: Man Sells Himself for $10,000
quote:

WTF is this


Bankruptcy, specifically the kind that allows you to erase nearly all kinds of debt.


C
LSU Fan
The Woodlands, TX
Member since Dec 2007
23092 posts
Online

re: Human IPO: Man Sells Himself for $10,000
quote:

specifically the kind that allows you to erase nearly all kinds of debt.


it stays on your credit reports for, i think, 7 years. So that'll cost you just starting out...


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Putty
LSU Fan
Member since Oct 2003
21814 posts

re: Human IPO: Man Sells Himself for $10,000
quote:

would a judge actually let you go through ch 7 though if you are profitable?


to free yourself from indentured servitude / debtor's prison with benefits of house arrest? Hell yes.

However, you'd probably not even have to do that as the agreement would in all likelihood be void under state law as against public policy.


C
LSU Fan
The Woodlands, TX
Member since Dec 2007
23092 posts
Online

re: Human IPO: Man Sells Himself for $10,000
I wasn't really referring to the exact situation in the op. could you structure you income as a dividend paying corporation?


white perch
Northwestern St. Fan
the bright, happy side of hell
Member since Apr 2012
3764 posts
Online

re: Human IPO: Man Sells Himself for $10,000
quote:

I wasn't really referring to the exact situation in the op. could you structure you income as a dividend paying corporation?


Yea, it'd be just another bill


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foshizzle
LSU Fan
Washington DC metro
Member since Mar 2008
31906 posts
Online

re: Human IPO: Man Sells Himself for $10,000
Edit your title.

quote:

decided to split himself into 100,000 shares and set an initial public offering price of $1 per share.


That means his IPO was for $100K, not $10K.

quote:

Within five years, Mike sold over 3,700 shares of himself and his stock price hit a high of $20.


This means he only sold 3.7% of the initial issue. Looks like he still has 96.3% of the voting stock so he has nothing to worry about.


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