Pfranc Meeting Pfund Back to What's a Pfranc? Next Pfranc Meeting - #4 - Africa 2002, December 4th.

The Pfranc 2017 Meeting Travel Pfund plan and trust.

PFund status:

Oct-2001: CTD=Contribution To Date=$0, TB=Total Bought=$0, TS=Total Sold=$0, only 16 years to go!
Nov-2002: CTD=$4400, Bot:100GRMN@$22, Bot:200UAL@$3, TB=$2800, Cash=(CTD-TB)=$1600
Dec-16-02: CTD=$4545, Sold:200UAL@$1.50 (Bankrupt-oops), Cash=(CTD-TB+TS)=$2045
Feb-2-04: CTD=$12192, Bot:100GRMN@$50, TB=$8100, TS=$300, Cash=(CTD-TB+TS)=$4692
Grand total plugs made to date: 367,089 (new basis, now contribution is $0.07/plug, all plugs now, not just e2Plugs)
Apr-28-04: CTD=$14,272, Bot:100GRMN@$33, TB=$11400, TS=$300, Cash=(CTD-TB+TS)=$3172
Holdings: 300 GRMN, cash = $3172, (investment ideas are welcome!) Only 13 years to go!
----->event!: Garmin stock split 2:1 at about $100/share, now holding 600 shares GRMN.
Oct-15-06: Bot:800 NVT@$27, TB=$33,000, TS=$300 ... oops I computed CTD all wrong, forgot new basis, sorry, the result was I bought a lot more stock than we had cash for, ... oh well, think of it as a loan :-))
Holdings ==============>:
Jan-27-07 fund value: 600GRMN + 800NVT + (-cash loan of about $8k ) = $48k????, only 10 years to go!
Jan-2008: CTD=(600k plugs - 367k)*0.7+$12k= $28.3k (this should be accurate now). Holdings: 800NVT+600GRMN,TB=$33k,TS=$0.3k,Cash=(CTD-TB+TS)= -$5k, Total value=$100k up 100% in one year. 9 years to go! I had to do some trading of Garmin and Navteq which caused capital gains tax but it's long term so taxed at only 15%:-))

Saturday, October 20th, 2001, Murphy, Oregon, (AKA Pfrancville): Angus Pinkerton, Pfranc of the UK, and I, in the early afternoon, sober, at the dining table, discussing life, the future of Pfrancdom (and things like that), had an idea for insuring the world Pfranc meeting and total solar eclipse of 2017 in Salem Oregon would have good attendance. The idea was to start a trust/fund that will pay all travel costs for all Pfrancs! We figure that if I collect 20 cents per plug into a trust fund for the next 16 years, there would be enough for all transportation costs and maybe hotels and beer too! On Feb-04 we changed over to $0.07 per plug but for ALL plugs instead of just the e2Plugs. The new basis at change over was $12192 and 367,089 total plugs made to date. To figure the CTD (Contribution To Date) I take grand total of all plugs made minus the basis (367,089) times $0.07 and add that to $12,192.
1. (UK, Angus): It will hit the west coast USA near Tillamook Oregon at about 10:20am Monday 21st August 2017, about 300 miles north of Pfrancville.
2. 3 out of 61 Pfrancs think it's a good idea so far... (11/20/2001), 58 have said nothing! Com'on you guys.
3. Brand new humans (and pFuture Pfrancs) who will attend the meeting.
4. 11/02 - decided to invest some of the funds in Garmin equity - bought 100 shares of Garmin stock at $22USD/share. Bought 200 shares of UAL (United Airlines) at $3. The plan is to hold all shares until the meeting in 2017.
5. 12/02 - UAL (United Airlines) could not survive the results of 9/11 and went bankrupt. I sold the shares at $1.50
6. 2/04 - bought another 100 shares of Garmin at $50 making 200 now. The fund has $4692 in cash so if you have any investment ideas that can grow this over the next 13 years, .... please let me know.
7. 4/04 - bought another 100 shares of Garmin at $33, making our holdings 300 shares now. It was as high as $58 in January 2004, but has been down ever since. The current PE at $33 now is 20, Yield 1.55, EPS: 1.57, Dividend 0.50, Outstanding shares 108Million.
  Market intelligence profiders, Key Note, in a report said GPS sales were $16bn for 2003 and expects a mature market size of $757bn in 2017. I think author Paul Tucker did the study. Why did he choose 2017 I wonder? That's the year of our meeting. Ah, well because it's 20 years after 1996, the year we started Pfrancdom!
8. 10/06 -- not much in the last 2 1/2 years but bought 800 NVT at $27 and counted the total plugs sold and figured out the fund is worth $48 thousand, and we have 10 years to go, and I think NVT and GRMN will do well, and if they do, wow, we could really be having a very fun meeting with lots of beer!
1. Should we do this?
2. Should we invest the money in stocks?
3. What stocks? Garmin, UPS? so far --- how about eBay????
4. If we make our target of $1b/yr - should we buy this Purple Jet?
5. Funds distribution ideas: (2/10/04) Because the goal of this fund is to have as many Pfranc attend the meeting as possible, and because there may be excess funds, or there may be insufficient funds, and because we want each and every Pfranc to be able to attend regardless of where they are located, regardless of how many plugs they sent, etc.... and because some Pfrancs will be able to attend at a far lower cost than others, we will need to figure out a fair way to use the money to get what we want. Because the number one purpose is to have as many Pfrancs as possible - it will NOT be based on sales/volume. We may have a sub allocation via some kind of Points system that allocates a higher proportion based on length of service. Of course if a Pfranc quits Pfrancdom or is no longer Pfranc for any reason, then the potential value of this fund to him/her becomes zero. There is no vesting.
  1. Travel expense for all Pfrancs such that as many as possible can come (will be expanded on).
  2. Then if money remains we buy: Beer.
  3. Then if money still remains we pay for lodging,
  4. Then if money even still remains we pay for food,
  5. Then if money even still still remains we pay for entertainment,
  6. Then if money is still still still remaining, we pay for spouse/kids/others travel expenses.
  7. And lastely if any money is left then we simply buy more Beer, food, lodging, and entertainment, until it's all gone! Whew!
Please comment to Angus and/or me.
IPO: 10/21/2001 Copyright ©2001-2007, Purple Computing, All Rights Reserved.