Above: Space Development Corp Q1 2023 Forum / All Topics
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| More details about moving previous NetCapital investments to this new platform | 2023-09-25 13:46:19 |
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| [email protected]2023-05-0114:10:48 | More details about moving previous NetCapital investments to this new platformHello, I'd like this topic thread to have more details about how previous investments on the NetCapital platform will appear on this new platform. And can you talk more about how "warrants" will work. Eventually will previous NetCapital investments in Orbital Assembly automagically appear on this new platform? The process is still murky to me. I hope this new topic thread will help investors like me understand the process better. Thank you. |
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| admin | Update : Previous NetCapital investments have been fully importedFor every user who created an account on our platform, regardless if you invested in the round hosted on SPO, we have fully imported the records from NetCapital with investment amounts calibrated to the nearest whole share per Above Spaces instructions. If you have NOT created an account please do so and reach out via the Contact Us link -- we only have the email address on file with NetCapital to match against our database so if you have changed email addresses since investing you'll have to coordinate with the team at Above Space to reconcile the ownership. SPPX Site Administrator | |
| Llovonne | RE: More details about moving previous NetCapital investments to this new platformHoping Im not too late for this! I initially set up my account here months ago assuming that was enough, but Ive only just realised I hadnt set up my Investor Profile too! I have just uploaded everything its asked me for now, so fingers crossed Llovonne Norfolk-St George | |
| admin | RE: More details about moving previous NetCapital investments to this new platformWe can confirm that we have the prior investment data and are doing a final QC with Above Space prior to publishing it. We anticipate having this visible for all current users of our platform in the coming days. SPPX Site Administrator | |
| SpaceBurger | RE: More details about moving previous NetCapital investments to this new platformI am so confused. I have read through this forum... watched the video of Tim answering questions... but still confused. I just have a simple question: 1) In February of 2021, I bought $1000 US on Netcapital for an interest in Orbital Assembly. I have done nothing since except register a new account with the same email here on "invest.above.space". Is my initial invest still valid and protected? Will it get automatically transferred/reflected/updated onto the new site? Is there ANYTHING I am required to do to not lose that investment? Or can I just be the dumb investor and know that on the backend, you guys are sorting it all out without any additional input on my part. Sorry if that's simplistic. I literally am just a dumb investor. ;) | |
| wdelacourt | RE: More details about moving previous NetCapital investments to this new platformI know there is a plan in place for the migration from Net capital but is there a current update on where we are at in this process? Thank you. | |
| macasaSC | RE: More details about moving previous NetCapital investments to this new platformJon G. Thank you for advocating for Tim. All this questions have been answered and reanswered in this thread. At this point, patience, hope, and faith are our only recourses. Carl S. Carl F S | |
| [email protected] | RE: More details about moving previous NetCapital investments to this new platformTim, You have already stated several times that the moving over of the shares preciously purchased through Netcapital would take time to be moved to Silicon Prairie. My shares show up on each of their respective platforms but I know in time (you said it might take a month or so) all shares will be situated on Silicon Prairie. We all just need to be patient as I feel certain everything is being worked on. Thank you for all that you and the team continue to do. Jon G. | |
| Bristingr | RE: More details about moving previous NetCapital investments to this new platformThe lack of an official response to our questions in this forum is a little concerning. | |
| [email protected] | RE: More details about moving previous NetCapital investments to this new platformHi ,It could be useful that above space Will send us an e mail When the process of moving old netcapital investment Is complete In praire site. could Tim Alatorre confirm this possibility? Thanks Mario Mario olivieri | |
| [email protected] | RE: More details about moving previous NetCapital investments to this new platformYes! I know that Tim and crew are working very hard to keep a lot of plates spinning these days. So yes, all of our data, and stocks, will migrate to this platform! It just might take a bit longer than we all would like. We all just need to be a bit time flexible in our thinking is all. =) | |
| ZahariStoyanov | RE: More details about moving previous NetCapital investments to this new platform@humberto.tamez, I recently asked the same question, as I couldn't figure it out from the ongoing discussion. From what I understand, the answer is yes, just needs technical time. | |
| humberto.tamez | RE: More details about moving previous NetCapital investments to this new platformAll, Im not a savvy investor like you all, I just saw a great opportunity on Netcapital for this Sci-Fi looking product called Orbital Assembly. I just today realized that the information on Netcapital is old and I just want to know if the shares I bought on that platform are now on this one. Thank you for your time and (I hope) your clear and concise response. | |
| tesuzuki2002 | RE: More details about moving previous NetCapital investments to this new platformZahariStoyanov, Give the round time to close and settle up balances and move things around... I wouldn't be surprised if this takes another month.. The investment round just closed last week. Have patience. Tim | |
| admin | Update on moving previous NetCapital investments to this new platformWe can confirm that it is indeed the intent of Above Space management to merge all investor interests onto our platform, via our Transfer Agent which when combined with the Alternative Trading System ("ATS") our affiliated Broker-Dealer operates may give existing investors some path to liquidity subject to various restrictions. More on that later. SPPX Site Administrator | |
| morechances | Tim from Above: Space Development Corporation has said that our NetCapital investments and warrants will show up on this platform after the closing date, which appears to be 7/19/23. Then, I believe Tim said it will take at least a week or two to match up records from NetCapital. If I had to guess, we should see updates on this platform after 8/1/23. | |
| ZahariStoyanov | RE: More details about moving previous NetCapital investments to this new platformI'm really confused. I didn't take any actions other than setting up my profile on this platform. Are my NetCaputal investments automatically transferred? | |
| Taylor_Swaine | RE: More details about moving previous NetCapital investments to this new platformHello, So, with the current round of funding through Silicon Prairie closed, when can we expect to see the warrants we own reflected on this new platform? Taylor Swaine | |
| matias.pejko | RE: More details about moving previous NetCapital investments to this new platform I have participated in previous purchases through the NetCapital platform. I have signed-up in this new platform, but I have been unable to register as an Investor, given I am currently established in Spain. Please, let me know the next steps for investors located outside the countries listed on this platform. Should you need anything, please contact me. Thanks again for your time and attention. Always the best. Best regards, Matas Pejko, CIIA Cel.: 34 681112967 [email protected] | |
| JohnRobert | RE: More details about moving previous NetCapital investments to this new platformBristingr; I would strongly suggest reading a bit further back in the "history" of these posts. What you seem to be indicating via the nature of your question, is that you've not caught up with recent developments. i.e. Netcapital is history, Silicon Prairie is the present. If you wish to take advantage of the share warrants offer, my suggestion is that you get busy since, as I understand it, the offer ends July 15,'23, advise confirming date yourself. And, again as I understand it, a condition of receiving the maximum number of share warrants one would receive via Above Space's offer, is to buy a number of shares, via Silicon Prairie, equal to what you spent in the earlier rounds, Again, verify that you have active accounts with both Above Space and Silicon Prairie. Personally, as I had some initial problems when setting up an account for transfer of funds, specifically the minimum transfer amount, one hundred shares at $2.25, The issues were resolved, though it added some days to the process. ( There will be charges for your share warrants based on the initial prices you paid for your shares of stock back in the "Orbital Assembly / Netcapital" days. ) As your time is short, I would suggest you start with confirming an active account with Silicon Prairie, choosing a means of transferring funds to SP for stock purchases, and get that functioning properly asap! Good luck. John RobertH. | |
| Bristingr | RE: More details about moving previous NetCapital investments to this new platformSo, just to confirm, we don't need to buy more shares to receive the warrants or do we? I had invested in the 1st round, so all my information would be on Netcapital. If I need to buy more shares before the closing date, will the migration "merge" everything together? | |
| JohnRobert | RE: More details about moving previous NetCapital investments to this new platformtesuzuki2002, markrostan, and of course, Tim; Thank you all for your responses! I especially appreciate Tim confirming Mark's explanation. I had set up an account with Silicon Prairie and attempted a "test transfer" of funds to confirm everything was in order. In the meantime I've been wanting to be sure I am understanding what is necessary to take advantage of the thoughtful share warrants offer. Good thing I did the test transfer - initially the transfer did not work. I received an email from David V Duccini claiming my credit union had notified them they could "not locate the account number" I supplied, even though I had copied the number directly from the credit union's web page. Eventually we got the issue worked out and the test transfer, just recently, has gone through. Good timing - now I'll just need to calculate my next transfer in order to take full advantage of the share warrants offer. Cheers John RobertH. | |
| markrostan | RE: More details about moving previous NetCapital investments to this new platformtesuzuki2002, please don't invest based on my explanation--confirm it with Tim Alatorre. He's very responsive to email. I feel like I explained it correctly, but am an investor, not management and don't want to steer you incorrectly. JohnRobert, I completely agree that the best information would come from Tim or someone within Above Space and not me. Tim can guide someone based on their specific situation and use real numbers rather than the generic numbers I used in my example. For me, it was a situation where once it "clicked," it all made sense. But it took a bit to get it to click. | |
| tesuzuki2002 | RE: More details about moving previous NetCapital investments to this new platformmarkrostan, I completely agree this forum could really use some work with replies and ease of communication. I am following your last explanation that by purchasing atleast the number of shares held today in my Net Capital will allow for the most available warrants to be purchased in the future at their respective value at the share price from the previous respective rounds. Thanks, Tim | |
| [email protected] | RE: More details about moving previous NetCapital investments to this new platformAll, trying to keep up, lots of questions here. This week we are doing testing at NASA MSFC so my response time the last two weeks have been slow as we have been in full preparation mode. Next week our team will have more time. - Mark Rostan's explanations are correct upon my quick review - The reverse stock split was 5 to 1, each warrant converts to 4 shares. The warrants are not intended to reverse the reverse split. - Warrants are granted up to the number of shares currently shown on your Netcapital portal - We are working to move all records into Silicon Prairie. We have said repeatedly that it would happen after this current raise closes - To John Robert's question, I have sent specifics to people who ask for them. Feel free to email me and I will get back to you as soon as I'm able. John, if you have more questions feel free to email me again. I'm happy to jump on a phone call next week as well. Also, thanks Mark for answering and helping out! Look for a gift in the mail. ~ Tim Alatorre, COO Above Space | |
| JohnRobert | RE: More details about moving previous NetCapital investments to this new platformGreetings tesuzuki2002, and markrostan, I have read your posts / explanations, among others, with interest. It does seem though, while your takes on how the share warrants work may well be correct, if you're not someone of authority with Above Space or Silicon Prairie, does it really matter? Why is it we investors cannot get someone with the authority on this issue to spell out a clear, concise explanation? I did receive a personalized "spread sheet," from Tim Alatorre; very much like the examples he used during his "Fridays With Tim" but I'm afraid I do not fully, and confidently, understand how to interpret them, the labels in particular. For me, all this amounts to a mixed message from Above Space management. On the one hand, they appear to show gratitude to early investors with the share warrants offer, but on the other hand, they're reluctance to be candid about the process seems manipulative. It could be as simple for management as posting on this forum thread that your explanation is correct... John RobertH. | |
| markrostan | RE: More details about moving previous NetCapital investments to this new platformHi, tesuzuki2002. I wish there was a way to "Reply with quote" or something. I think you were responding to my post? If so, my understanding is that if you currently show 1000 shares on NetCapital (after the split) and you buy 1000 shares at the current $2.25 price, you will receive warrants (rights to purchase) for up to 4000 (4 x your original 1000) shares at whatever you paid originally per share: $0.25 or $0.42. If you bought in each round and your current NetCapital holdings are 250 shares @ $0.25 and 750 shares @ $0.42, when you purchase 1000 shares @ $2.25, your warrants would be for 1000 @ $0.25 and 3000 @ $0.42. I hope this helps (and is accurate.) I can't see your message anymore as I type this. The 4:1 vs 5:1 disparity, I can't explain. | |
| JohnRobert | RE: More details about moving previous NetCapital investments to this new platformIn perusing this forum, I've seen numerous questions posted, mostly regarding the confusion stemming from the move to Silicon Prairie from NetCapital, particularly the confusion as to how the share warrants work. What I do not see is any clear answer to these questions. Tim Alatorre has been very clear as to what the dates of the latest extension are, but does not seem to want to put anything in writing regarding specific details as to how many share warrants one might be granted, based on the amount of another share purchases at the current price of $2.25, or how many new shares one must purchase to take advantage of all the share warrants possible for them - saying that he will discuss it verbally on a "Fridays with Tim." In watching these, and the "spread sheet examples" used, I, personally, have difficulty understanding precisely what the spread sheets meant. It also seemed the second time Tim addressed the confusion was pretty much a repeat of the explanation from the first time. I do not understand the reluctance to simply state what must be invested now in order to qualify for the maximum number of share warrants possible. And I am questioning the usefulness of this forum which apparently has lots of posted questions, but very few posted answers. John RobertH. | |
| tesuzuki2002 | RE: More details about moving previous NetCapital investments to this new platformHi Mark, I think that's where I get confused is with the 4:1 warrants and the post reverse split shares. When I look at the number of shares shown in my netcapital account and what I originally purchase it is not 4 to 1, but it is actually 5 to 1. In either case, case I'd like to realize the full amount of the warrants so if my current share count in Net capital shows X should I be purchasing at least X shares today or should I really be purchasing 4X shares to be eligible for all the warrants? Thanks,. Tim | |
| markrostan | RE: More details about moving previous NetCapital investments to this new platformAs I understand it, if you bought "X" shares in the first two offerings ($0.25 and $0.42/share) and buy the same number of shares in this offering, you'll get warrants for the right to purchase 4X shares at your original purchase price (or prices if you bought in both of the first two rounds.) If you buy more shares in this offering than in the earlier ones, you still are only allowed to get 4:1 warrants for the original number of shares purchased in the first two rounds. So, I buy 1000 shares in "Round 2" at $0.42. I buy 1000 shares today @ $2.25. When the offering closes, I'll be issued warrants that allow me to buy 4000 shares at $0.42. The key is that these are "post reverse split" shares from the first two rounds. So, essentially whatever number of shares is currently shown in your account at NetCapital right now is the maximum number of warrants you can get this round. This is one of those things where I think the more I type, the less clear I make it sound. LOL. That's my take, but Tim is more qualified to respond. | |
| tesuzuki2002 | RE: More details about moving previous NetCapital investments to this new platformok that helps and makes sense, Tim Alatorre. Thank you. You mentioned you would respond to individual emails in your Friday call from 5/19. I sent a message and have not heard back. I assume you are swamped after that. My questions was about how many Share in the current round need to be purchased to be eligible for all the warrants that I would have the option to buy. The 4 warrants for each Share purchased compared to the previous shares purchased is where I am hung up. I am not clear on whether I can purchase 4 times my previous shares to be eligible for 4 warrants comes from each or my previously purchased shares. OR If the opposite that I only need to purchase 1/4 of the current shares to be eligible for a 1 to 1 warrant connected to my existing shares after the 4 warrants that are allowed for Each share in this current round. Thanks again, Tim | |
| macasaSC | RE: More details about moving previous NetCapital investments to this new platformTim Alatorre, COO Above Space, stated, on May 19th and implied no later than May 22nd, that there would be more information. I have not seen this additional information anywhere as of today. I received an email telling me to complete an attached form. I reported back that there was NO ATTACHED FORM. Instead of a response, all I received was an identical email with NO ATTACHED FORM. I reported it again. I went to the dashboard and completed my subscription information. I still have not received or seen on this site, any information, AS PROMISED, on how to receive warrants. Per Tim Alatorre, COO Above Space, today, May 31st, "... we want to give everyone a chance to receive warrants." If so, why isn't there information for the prior investors, who have already been reached (ex. me), to proceed so that Above Space is not swamped at the end of the process? Carl F S | |
| [email protected] | RE: More details about moving previous NetCapital investments to this new platformYes, the raise was extended to July 14th because we just got the full list of all of our prior investors on Friday and we want to give everyone a chance to receive warrants. ~ Tim Alatorre, COO Above Space | |
| Michael Slater-Lunsford | RE: More details about moving previous NetCapital investments to this new platformI'm wondering the same. I sent an email a week or so ago with some questions but haven't heard back yet so hopefully there's still time to get some clarification. -Michael | |
| tesuzuki2002 | RE: More details about moving previous NetCapital investments to this new platformDid the raise get extended out to July 14th, 2023? if So, Why the change? Tim | |
| [email protected] | RE: More details about moving previous NetCapital investments to this new platformAll, thanks for the questions about the warrants and process. This coming Friday, May 19th, I will do a live Q&A and walk through a few scenarios. If you want me to respond to your specific scenario feel free to email me directly at tim@ above space We will be sending out the link via email tomorrow or Monday. You are under no obligation to invest in the current raise. At the close of this raise we will be migrating all records from Netcapital to this new platform. If you've held your shares for at least a year you will also be able to sell them under certain conditions on this platform. As of the close of our last raise we are not providing any further updates on Netcapital and are not able to post on their forum. ~ Tim Alatorre, COO Above Space | |
| morechances | RE: More details about moving previous NetCapital investments to this new platformI have the same questions in regards to NetCapital. I do remember seeing a YouTube video earlier this year where Tim Alatorre explained how this worked with NetCapital and the warrants. However, I cannot find the video now. | |
| RickTruck | RE: More details about moving previous NetCapital investments to this new platformWhere do I get the warrants for my previous investment? HJP | |
| andreast | RE: More details about moving previous NetCapital investments to this new platformI would also like some more info on how my previous investment is handled going forward and also if I am required to further invest or if something is lost if I don't invest further, as the last email from Above Space led me to believe. | |
| [email protected] | RE: More details about moving previous NetCapital investments to this new platformSo here is a webpage with information about what a Warrant is: https://corporatefinanceinstitute.com/resources/derivatives/stock-warrants/# Other thoughts from members here in the forum? |