Guilds > ABC

Academy Business Co-op

ABC Mission Statement
ABC will endeavor to facilitate and offer convenient, additional trading opportunities for the citizens of Egypt. To this end, we are forming a cooperative effort where all members of ABC will share in the profits created by the services we offer.

LINKS
Item List - List of Items Currently Accepted by ABC.
Drop Offs - Drop-off Chest Locations in Egypt.
Indo Supplies - Chested supplies from our Indonesian Beehives at Pappyland

General Information

ABC Services

I)We offer Drop Chests located across Egypt, so that Members may make sales of Items at their convenience a.Chest locations are available at different sites located on the link above.
b.Notify the designated Elder of the sale via private chat.
c.Drop off Items in an ABC Drop Chest of your choice at your convenience – include location in the chat

II)We offer a steady price for all items we are purchasing.
a.Item Prices list is available at the link above.
b.These prices will not fluctuate due to stock on hand or demand.
c.Changes in these prices will only occur upon a majority vote by the Board of Directors
i.Changes will not go into effect until 24 hours (real life) after notification has been posted in the ABC forum.

III)We offer the ability to place Buy orders.
a.Each Member may place two Buy Orders for every five ownership shares of ABC they possess.
b.A “Buy Order” consists of a quantity of an Item and the maximum price the Member is willing to pay.
c.ABC will closely track Item prices at “The Goods” and immediately purchase up to the quantity requested any time the price is at or below the Members stated maximum price.
d.Members must maintain an ABC account balance sufficient to complete all buy orders submitted.
i.If a sufficient balance is not maintained, all buy orders are put on hold.

IV)We offer the ability to use Member accounts as funds in private transactions between two members. (As if writing a check to a fellow member)
a.Members may transfer any amount in their account to another members account.
b.A small handling fee will be charged in the amount of 3%.

[All account balances and Item prices are expressed in GoodScript (GS)]

ABC Membership

I)Membership is acquired by the purchase one share of ownership stock in ABC.
a.Any citizen of Egypt is welcome to become a Member.
b.Common Stock costs 5000 GS apiece.
c.Members may purchase additional shares of stock in blocks of 1 from ABC.
d.Members must maintain at least 1 share of ownership to keep their ABC account active.

II)Upon activation, an account has a balance of zero.
a.A member may, at any time, cash out all or part of their account, to be paid in 1000 GS
b.This is subject to the same 3% handling fee applicable to account transfers.

III)By virtue of possessing ownership shares of ABC, all Members are therefore Owners and due their fair share of any profits generated by this cooperative.
a.Total Profit generated by all business conducted by ABC will be totaled every two weeks.
i.This includes all handling fee’s and any profit made by sale of, or purchase of, Items from “The Goods” or any Individual.
ii.This also includes any possible future revenue source.
b.All profit generated will be declared as dividends and split evenly to all shares.
c.All dividends declared are immediately added to Member account balances.

IV)This being a Co-Op, all ABC Financial Statements are available to review by all Members.

ABC Board of Directors

I)The Board of Directors is made up of those possessing ABC Voting Stock.
a.All members of the Board are listed on the link above.
b.Shares of Voting Stock cost 10,000 GS apiece.
c.These shares are equal to Common Stock when determining Dividends.
d.These Shares must be purchased in blocks of 1.
e.Only approved applicants will be offered the opportunity to purchase Voting Stock.

II)All decisions involving changes in any ABC policy requires a majority vote at a minimum. (Some decisions will require more than a simple majority)