There seems to be a lack of checking when accepting sharemarket IPOs.
It’s limited and shouldn’t be an issue if we combine all share issues to the one listing.
Stoners Grow did an IPO for 500k shares earlier today with YBR and has now just done another for 600k with Chase. I wonder what happens if one buyer takes up all 1.1 million shares?? Does he get to control the holding company??
Anyway my point is there’s no check on total outstanding shares when allowing the second bank to accept or issue the stock.
I totally agree Firey. I had no idea he was going to do it with you as well. I actually accepted his request for stocks a few days ago i was just able to issue them today so when i saw that he had 2 i was a little baffled.
We will look into this. Thank you, Firey and Jobsons for bringing this to our attention.
So I accept that the first time this happened, Stoners wasn’t aware and has since bought back stock to put him under the threshold.
But let’s say theoretically that someone opened a second account and transferred 80 odd million into it. (Not a second account? - very odd to give a new player most of your cash and then convince them to use it the way you need them to)
Then, knowing about the loophole and being given a green light by an admin stating that he wouldn’t lose control of his company, deliberately going to 2 banks and requesting a large issue of shares from each, enough to take his ownership down to 33%.
Then, just in case, he used the second account to buy around 20% of his expanded equity so he retains an unfair advantage over the rest of the players when the loophole is closed after being exposed so dramatically.
You may say he gets no advantage but he gets to sit on top of the market capitalisation table when he wouldn’t otherwise be there.
Plot twist. Jobsons is my brother. Hes probably going to stop playing the game. thats why he gave me the money. I bought the stock because like yourself Jobsons is obviously one of the top players in the game it would be asinine not to buy into it. Since when is buying 20% stocks in a company suspicious, if so please condemn Reinhard for buying 57% of Jobsons.
Is this fun or what?!?
Couple of things here …
If a player/business is doing really well and then informs you that he will stop playing the game, then you should not buy his stock because the company will eventually be disabled or go bankrupt when no one is taking care of it. You should only buy stock in a company that you believe will continue to operate profitably into the future. This is the only way you can make your money back … by the company sharing its profits (by paying dividends) or by you selling the shares to other players in the future (at a higher price).
To clarify, we (admins) did not give the green light to anyone to exploit bugs or loopholes in the game. We were simply answering a question about what the consequence of a bug is. We wanted players to rest assured knowing that the bug was not going to blow up their business or something.
If someone exploits bugs and loopholes to gain a significant unfair advantage, we will take action to correct that. This is what we are doing with the Competition Bureau and you will see the results of this action soon.
A player cannot hide money and assets by moving value between businesses (real or fake). We can (and will) seize money and assets wherever they are.
I should note that we approach exploits in one of two ways: (1) If a player exploits bugs and loopholes, we will usually go through the in-game Competition Bureau to address them and correct the issue through penalties and asset seizure. The Competition Bureau prefers not to ban players. (2) If a player attempts to HACK the game code in any way, then we are most likely to immediately terminate the account and ban the player as we consider this type of exploit malicious.
We are more forgiving with players during the BETA because helping us find bugs and loopholes helps the game and everyone in it (as long as we correct large gains of unearned money/profit so that the game remains fair, and we will be doing that).
I hope that all makes sense.