World Island Kybernetik:About

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Revision as of 01:13, 7 April 2010 by Root (talk | contribs) (WIK Principles of Corporate Governance)

American Kybernetik
Box 537, Niagara Falls, NY 14305
World Island Kybernetik

CV and More About WIK-CSO

World Island Kybernetik is the organizing entity of the wik-cso.dom root dominion in our Autonomous DNS root system the successor to my original sole proprietorship, American Kybernetik.

WIK Principles of Corporate Governance

  1. "A Stock" is an equity share unit which is the value of the income realized over the cost of production in a unit time by WIK divided by the number of contractors involved full-time in that production.

  2. "A Stock" can only be owned by current full-time contractors who are paid the value of their stock in their local currency at specified unit times in the manner of a dividend.

  3. The A Stock dividend has a uniform dividend value, the same for every contractor. The ratio of total WIK income times the total number of full-time contractors divided by this dividend equals 1.

  4. "B Stock" is a vote in corporate decision making and every contributing contractor has at least 1 share and acquires an additional one for each full year of full-time service.

  5. All decisions are made democratically on the basis of B shares and in principle everyone can exercise their B shares in any decision, but any changes to these rules requires unanimous consent of all and where a vote is impossible, the decision making power reverts to the founding contractor.

  6. I, the founder and original author of these rules, assign myself 4708 B shares and declare the following additional rules:
    • After this B shares will only be awarded as the payment for execution of production tasks contributing to the net income which will also be the WIK determined price/cost of that task.
    • At some point in the future when the number of contractors has grown sufficiently, a number lower than 1 will be assigned to the ratio in 3 above. At that time the each B Stock dividends will begin to payout the difference.
    • Should WIK acquire non-earned assets these and any capital gains from them will be distributed on the full-time contractors, the holders of A Stock.
    • Exiting employees may retain their voting rights but are cashed out of the WIK economy.
    • There will be no board of directors or management structures of any kind except as provided by these rules. Working groups are expected to self organize and there is no distinction except between the founding and other contractors as stipulated in the first 5 articles.
    • No other form of equity share, vote, or money, may be created, nor may any employee incur debt or liability in the name of the corporation.
    • A non-voting C share type sold publicly, may be introduced later, but the price may not be lower than twice the current A stock dividend for a year. A bought C Share will have the nature of a bond with a fixed date of maturity equivalent to a struck price which shall not be less than the A Stock dividend for one year and which will be fully amortised when the principal and struck rate of return are paid.

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