What is FairShares?
FairShares is a new brand for self-governing social enterprises operating under either Company or Co‑operative Law. It offers a unique approach to enterprise ownership, governance and management through its recognition and integration of founders, producers, employees, customers, service users and investors.
For more information, please visit the FairShares Website
What is Mass Mosaic?
During our age, it is technically possible to eliminate scarcity. We now can to meet all our needs together. Given Earth's resources and our collective abilities, we believe there is a hidden abundance within our worlds that is waiting to be unlocked.
Mass Mosaic builds the tools to make this connection possible. Simply add anything you want or have. We then match you to those who want to exchange. It's fast, universal, and free!
Visit the Mass Mosaic Website
Who are the stakeholders?
The Mass Mosaic FairShares Model is a structure that gives rights to the following groups of stakeholders:
This includes Rob Jameson, Alison Gianotto and Eric Doriean.
This group of stakeholders are those who invest money into Mass Mosaic and chosen employees who would normally receive equity.
All current employees would make up the employee group of stakeholders.
Users become a Pro paid member on Mass Mosaic, or pay a minimum $US50 to Mass Mosaic in a year, will make up the users stakeholder group
What are the voting and surplus profit payout percentages?
The vote and surplus profits payout (if directors choose) is divided by the following percentages:
Founders - 10%
Investors - 40%
Employees - 25%
Users - 25%
Why do users need to pay to be part of the user stakeholder group?
In one way or another users always contribute financially to a website. Facebook and Google data mine your personal information and website usage and sell it to advertisers.
Mass Mosaic believes in a better way and part of the revenue strategy is to offer paid pro memberships and other paid features. With implementation of the FairShares model, the pro members or anybody who has paid a minimum of $50 per year, will have a voice in the direction of the company and share in surplus profits when made.
How do stakeholders get their voice heard?
Voting is done at an Annual General Meeting. The AGM will be extended to be online as well so the all stakeholders around the world have a chance to vote.
75% of the stakeholders have to reach an agreement for a resolution to be ratified. It also requires each stakeholder group to have a majority for resolutions to be ratified.
All stakeholders can propose resolutions to be voted on at the AGM.
A proposed resolution requires 10% of the stakeholder group to agree from the stakeholder group it was proposed from, before it will go to a vote at the AGM.
Throughout the year, all stakeholder groups will be able to vote up and down product enhancements. These votes are for enhancements to Mass Mosaic that they want to see.
How will surplus profits be distributed?
Directors have the right to pay all stakeholder groups a percentage of surplus profits. This payment would be distributed through the stakeholder groups based on the percentages above.
It is envisioned that surplus profits wouldn’t begin in the short to medium future, as all profits will at first be used to grow the business. This can change, if the Directors decide or is a resolution is passed at the AGM to do so.
How are Directors appointed?
Directors are appointed from all 4 stakeholder groups. The 3 Co-Founders hold permanent director seats and the other stakeholder groups, appoint up to 2 directors for each group.
When will the first AGM be?
The first AGM will 6-12 months after implementing the FairShares model.
What are the implications for the different stakeholder groups?
Founders have a vote, appoint directors and receive an allocation of surplus profits when paid for the life of the business.
The founder stakeholder group has 10% of the voting and surplus profits allocation.
Investors have a vote, appoint up to 2 directors and receives surplus profits payout for the period they are an investor in the business.
The investor stakeholder group has 40% of the voting and surplus profits allocation.
Voting and dividends in this group are shared based on the percentage each investor or currents shareholder already owns. For example, if an existing shareholder own 10% equity, they will have 10% of the investor stakeholder group as well.
Employees have a vote, appoint up to 2 directors and receive surplus profits when paid as long as they are an employee of the company.
The employee stakeholder group has 25% of the voting and surplus profits allocation.
Users have a vote, appoint up to 2 directors and receives surplus profits when paid whilst they are a paid community user.
The user stakeholder group has 25% of the voting and surplus profits allocation.
Users become a Pro paid member on Mass Mosaic, or pay a minimum of $US50 a year to Mass Mosaic, to be a part of the users stakeholder group.