Frequently Asked Questions
Q: Is this a trading site or what do I use it for?
A: There is no functionality for trading. This is a site where you can manage your shares and transfer them to a new account when you have traded elsewhere or given away shares.
Q: What is the reason for a site like this?
A: It is usually a hassle to manage many share holders with a lot of manual work involved when shares change owners. The alternative is often registering on a stock market, which is usually awfully expensive and a time consuming process. This site is supposed to automate share transactions for small companies who wants to distribute their shares by letting the share holders themselves register transactions.
Q: How do I transfer sold shares to someone?
A: Go to "register customer". A new customer is registered for the email you select. You may now allocate shares registered on this site to that account. Go to My Shares and fill in the details in order to transfer shares.
Q: Can I register as many customers as I wish?
A: Yes at the moment there is no limitation. If the system is abused we will have to consider this.
Q: Something stops me from registering a new customer. What can that be?
A: You need to be a share holder in order to register new customer. You need to enter a valid email address. The username can not be taken.
Q: Why is it called customer?
A: Good question. The main reason for registering someone is that they should receive shares in some way. They don't own shares yet though so it can't be shareholder. Maybe "User" or "Client" would be better. Next question please!
Q: Why doesn't anything happen when I try receive shares?
A: You need to fill in some details. The reason is that we must have some sort of identification to show to the Swedish authorities.
Q: Do I have to fill in both Social Security number, Birthdate and Organization number?
A: No, one of those will do.
Q: Why do I have to fill in either Social Security number, Birthdate or Organization number?
A: We need something to tell the Swedish authorities. Neither we nor they can control what you put there. In case there is a dispute you will probably want the information to be correct.
Q: Do I have to fill in all these other fields for personal information?
A: No, most are optional. They will help us contact you. They may help identify you as a share holder. We will be able to give you dividends, should there be any.
Q: Where do I find my shares?
A: In case you have some shares coming your way you usually have to go to My Shares->Incoming and accept the transactions.
Q: What happens if i Reject a transaction as a receiver?
A: The transaction is reverted. You will not receive the shares unless the sender creates a new transaction.
Q: What happens if i Revert a transaction as a sender when the receiver has not yet Confirmed the transaction?
A: If the receiver hasn't accepted the transaction yet it will simply be reverted. You will still have control over the shares involved and may create a new transaction with different information.
Q: A new share letter was created when I reverted the transaction. Is this intended and can I merge them again?
A: It is not unintended and a harmless feature. There is currently no way to merge share letters manually. The only real effect is that it clutters your share inventory list.
Q: What happens if i Revert a transaction as a sender when the receiver has already Confirmed the transaction?
A: If the receiver has accepted the transaction it will become frozen and require an administrator to resolve because there could be a dispute.
Q: Where can I see the current share price?
A: Right now you can't. We will be adding graphs and diagrams as the site becomes more used.
Q: If this is not a trading site why do I have to enter a price for a transaction?
A: It's only for the graphs and as a curteousy to other share holders.
Q: How do you verify that the price I enter is correct?
A: We don't. We have no way of knowing that unless you send us a Stock purchase letter or some form of receipt. We do not automatically correlate with those.
Q: Do I have to send you a Stock purchase letter when I purchase shares?
A: No but it will help in case of a dispute so we strongly recommend it. Any sort of receipt should be scanned and emailed to the logs email address.
Q: How do you use the Stock purchase letters?
A: They end up in an email account. We will look for that letter in case there is a dispute.
Q: What if I create lots of accounts and sell shares to myself for a high price in order to inflate the (upcoming) graphs?
A: This is of course possible and something people should be wary of. It may also be illegal in your country. We will have to freeze your accounts in case that happens.
Q: Where do I pay taxes? Do you send tax statements and stuff?
A: We are not in contact with your local tax authorities unless you reside in Sweden or they specifically contact us. If we issue dividends you may have to pay taxes for them in your own country.