Frequently Asked Questions
Q. How do you reimburse expenses?
A. If a club member has incurred a small expense on behalf of the club, rather than writing a check to cover the expense, the member has the option to accept the value of the expense in MIC shares. The result of this is that the total number of shares outstanding will go up, while the total amount of the club (assets plus cash) will remain the same. Thus the expense is borne by all club members by the slightly reduced share value. The number of shares to reimburse a partner is calculated so that the club member is reimbursed with shares at what will be the new share price. The calculation is as follows: