Thursday, January 26, 2017

Circular for Bullythebear shareholders


in relation to



For the purpose of this Circular, the following definitions apply throughout unless the context otherwise requires or unless otherwise stated.

“BullyTheBear” : The award winning website that talks about personal finance and finance related information

“cbox” : The tiny little community space right at the bottom of and below the blog posts of BullyTheBear, where shareholders can type in messages and discuss the mundane and important issues of the day

“Chairman” : Chairman of BullyTheBear website, known popularly as La Papillion, or LP

“Exchange rate” : Exchange rate of 1 USD to 1.46 SGD, taken conservatively.

“Premium” : The paid, upgraded version of the free cbox, which is the current version.


To: The shareholders of BullyTheBear

Dear Sir/Madam



1.1 The Proposal

The Chairman of BullyTheBear would like the shareholders to consider this proposal of the continuation and funding of the premium cbox. The cbox had been an integral and important part of the culture of BullyTheBear. Despite several major facelifting and structural changes that had occurred and will occur in the future, the cbox is one feature that will be set in stone. In fact, BullyTheBear will not be where it is today if not for the bond building and sharing that took place among shareholders, many of whom are regular users of the cbox.

However, the premium version of the cbox is going to end in 8th Feb 2017, hence the proposal to shareholders to decide on the continuation and funding of the premium cbox.

1.2 Purpose of this Circular

The purpose of this Circular is to provide shareholders with relevant information relating to The Proposal, and to seek shareholder’s approval and feedback for this exercise. Shareholders are requested to give honest feedback, but it is to be noted that the decision of The Proposal lies solely on the Chairman. That being said, the voices of the shareholders will taken into consideration on the final deliberation of the decision of The Proposal.


2.1 Listed below are the features that shareholders are used to in the premium cbox:

(a) Higher capacity – the premium cbox can store up to 600 messages (as opposed to only 100 messages for basic cbox) with up to 1000 characters long each. Each and every post are also archived.

(b) Users can delete their own last messages in the event of typos. The administrator can also delete messages and ban users with a single click.

(c) Ad-free

(d) Dynamic auto-refresh – The rate of autorefresh is dynamically adjusted to the rate at which new messages are being posted.

(e) Sound notification in the event of new messages. This complements the auto-refresh.

(f) A ‘who’s online’ display lists who is viewing and who is chatting

(g) Advanced style editing

(h) Custom word filter

(i) Allows users to password protect their names to prevent impersonation

2.2 Cost of the Premium cbox

Cost of The Proposal depends on the period of time for which the premium cbox is purchased. Generally, the longer the period, the cheaper the cost. Here are the costs for different periods:

Period(months)----------Cost(USD)------------Cost per month (USD)

Shareholders can verify the cost in the cbox website here.


In evaluating The Proposal, the management of BullyTheBear had taken into account the pertinent factors set out below which will be considered as they are deemed to have significant bearing on the assessment.

(a) Rationale of The Proposal

(b) Financial effects of The Proposal

(c) Possible effects of The Proposal

3.1 Rationale of The Proposal

As a responsible company, BullyTheBear believes in involving shareholders in its major decisions. While sole responsibility and decision eventually rests on the management, the Chairman still believes in seeking honest and prompt feedback. Below are the key reasons for The Proposal:

(a) As mentioned in the Circular, BullyTheBear is a shareholder friendly company. There is almost no advertising in bullythebear now, unlike the past. The ads revenue had been dropping steadily as the readership of Bullythebear dwindles. Hence, the need to ask shareholders for funding. It is not that The Chairman cannot pay for the cbox, but as a community, it is important that everyone contributes so that there is a sense of belonging and communal sharing. The Chairman would like to take this opportunity to once again thank all the regulars and not-so-regulars who frequent the cbox daily like the neighborhood’s kopitiam.

(b) It is the wish of the Chairman to give back to society what it had been given to him. Through the tiny space occupied by the current cbox, a lot of important discussions had been debated and ideas thrown around shareholders. By The Proposal, it is hoped that such active discussion will continue to be an active feature of BullyTheBear. It would be a travesty to go back to the ancient days where there are ads, and no auto refresh of messages again.

(c) Though this is not a serious and prevalent problems yet, The Proposal will prevent impersonation of regular users of cbox as the premium version allows the user to password protect their nickname. This protects both the integrity and credibility of users – two of the important tenet that is held closely by BullyTheBear’s management.

3.2 Financial effects of The Proposal

The cost of The Proposal should be borne by everyone. To get the best value for money, the 12 months plan with the cost of 20 USD should be selected. Based on the rate of 1.46, the cost in SGD is $29.20 for 1 year. Donations by shareholders are most welcomed. Everything is strictly accounted for.

Should there be excess donations above SGD $29.20, shareholders do not have to worry about the issue of fattening the Chairman's bank account, because there will be proper accounting and the excess money will be rolled over to fund the next continuation of the premium cbox.

Should the be insufficient donations to cover the SGD $29.20, and as long as there is one single donor of any amount for The Proposal, The Chairman will undertake to pay for the remaining amount. As long as there is a supporter, the premium cbox feature will stay.

For illustrative purpose:

i) Donations amounted to SGD $50, which is above the required SGD $29.20.

SGD $29.20 will be paid to cbox website for the premium cbox, while the remaining SGD $20.8 will be rolled over to fund the next year's worth of fees. There is a historical data for this. Back in 2013, due to overwhelming response for the call of funds, the amount of donations is 4 times the required amount. Hence The Proposal in 2017 now.

ii) Donations amounted to SGD $5, which is below the required SGD $29.20

The Chairman will top up SGD $24.20 to pay for 12 months of premium cbox. The principle is that as long as there is one supporter, the premium cbox will remain.

3.3 Possible effects of The Proposal

Donations might deprive shareholders of buying an extra container of pineapple tarts for themselves, and thereafter end up slimmer for the new year. Donate for a good cause and end up with a good figure.


The Chairman would like shareholders to give honest and prompt feedback on The Proposal. Shareholders can do so by clicking the comments button at the end of this Circular and they can be sure that the Chairman will address their concerns and feedback within 1 working day. The Chairman would like to recommend:

(a) a period of 12 months of premium cbox, with an expense of USD 20.00 or SGD 29.20 based on the Exchange rate

(b) donations is to be transferred to The Chairman's posb savings account 543-60484-4.

(c) Absolute deadline is on 5th Feb 2017 to allow some time for the administration of The Proposal.

Updates: 29th Jan 2017

Here's a list of donors:
1. D - $50
2. S - $10
3. J - $10
4. O - $8
5. C - $10
6. J - willing to share half of cost with me if there's no donors

Really, thanks from the bottom of my heart!

As of 29th Jan 2017, I also managed to secure a better deal for cbox! The usual is 12 months for 20 USD ($1.67 USD/mth), but I managed to negotiate for a longer term at a cheaper rate that is not published. It's going for $40 USD for 27 months ($1.48 USD/mth). I'm going for that for the best value.


Sillyinvestor said...

Hello LP,

Is that u? Hmm... don't sound like u. Lol

I dun use c-box.

la papillion said...

Hi SI,

Haha! Why don't sound like me? Too serious? Too FA?

Sillyinvestor said...

Hi LP,

For a moment I thought your acc hack! Lol

So not LP, asking for sharesholder investment lol

Hope your EGM later is fruitful, whatever the income

la papillion said...

Hi SI,

Haha, I've done that before too, years ago, back in 2008 and 2013 :) Maybe you aren't around yet :)

Sillyinvestor said...

Hi thomas,

Wish u a prosperous CNY 🍊🍊

la papillion said...

Hi SI,

Happy new year to you as well :) sorry for the late reply, I was totally offline for a day haha