What if we don’t raise the money?
If we have not reached our goal of $600,000 and the current owner will not negotiate to a price that matches the funds we do have,
then we cannot buy 129 Amory St.
If we cannot buy 129 Amory St, we will have two alternative options. The first is to find a new building we can afford with the
existing funds and, if needed, apply for a mortgage. Our second option is to return back all contributions.
It is important we plan for the worst, but we will be reaching our goal. Think it. Breathe it. Believe it. None of us want to lose
the Quill. If you have not yet contributed, please do so.*
What is the deadline to raise the funds?
The FOP lease at 129 Amory St expires this August. The latest we can raise the funds must be a month earlier -- July 2021.
The real answer is ASAP.
What if I don’t have $10,000? Or even $1,000?
We will accept any size donation. Any donation under $1000 will not qualify for a Quill Token.
What is a reverse auction?
A reverse auction is just like a standard auction except the lowest bid wins, not the highest. At each reverse auction, Emergent
Order will buy back Quill Tokens at a starting bid of $1100 per token.
What is the reverse auction schedule?
Once the building is owned, Quill Tokens will be immediately auctioned on a quarterly basis. We are expecting to buy back 8 - 12
Quill Tokens per quarter.
When should I expect to get my money back?
You can get your money back at any time you choose to participate in the reverse auction. The reverse auction will occur on a
quarterly basis. You will have to consider:
- What is your time preference?
- How much are you willing to bid to sell your Quill Token(s)?
- How competitive is the reverse auction?
This is a $600,000 building. It will take several years for Emergent Order to buy back all the Quill Tokens.
The Quill Tokens are also saleable and transferable to any one you like.
What else can I do with Quill Tokens?
Instead of FRNs, you can instead purchase a Quill Lifetime Membership for 5 Quill Tokens. For example, recently, Pete Eyre and
Amanda B. Johnson (Billyrock) purchased 2 Lifetime Memberships with their Quill Tokens.
For another example, this is what Justin O’Donnell plans to do:
Quill Tokens are transferable within the community for more than one purpose. For example, the FOP Board will accept 5 Quill
tokens as payment for a Lifetime Membership.
Why is this notable? If you're not already a Lifetime Member, you can become a permanent part of the Quill with your contribution
to Emergent Order. If you are already a Lifetime Member, aside from the quarterly reverse auctions, the FOP [not Emergent Order]
and myself will be seeking to buy out some tokens.
Right now, I can only contribute $1000, but I plan on purchasing a Lifetime Membership with Quill Tokens. In the near future, I
will be buying Quill Tokens from community members like yourself. I expect others will be in a similar financial situation as
myself and will be doing the same.
How exactly will the reverse auction work?
This flow chart describes how it will work.