[b]© 2014 - 2015 Crypto Change All Rights Reserved. [/b]

Why is funding all or nothing?  

All-or-nothing funding is a core part of Crypto Change and it has a number of advantages:

It's less risk for everyone. If you need $10,000, it's tough having raised $5,000 and a bunch of people expecting you to complete a $10,000 project.

Why is funding all-or-nothing?


All-or-nothing funding is a core part of Kickstarter and it has a number of advantages:

It's less risk for everyone. If you need $5,000, it's tough having $1,000 and a bunch of people expecting you to complete a $5,000 project.

I already did I drained my account and moved to another exchange.  I don't like when my assets or holders of said assets are under scrutiny and cryptsy is oozing with scrutiny right now its like the eye of Mordor fixed on it thats not why I'm in crypto.

Subject:    Financial plan
Date:    Tue, 10 Jun 2014 01:33:05 -0400
From:    Josh Garza <josh@gaw.com>
To:    Stuart Fraser <aukster@msn.com>, Shiraz Moosajee <Shiraz@gawminers.com>

Hey shiraz, figured I would loop Stuart in.

Whays the timing look like to have the Financials prepared?

Josh

Dear Stuart & Josh,
In answering this question, I am going to incorporate observations from my first 30 days and so this is going to be a much broader response and as always a candid one.

1. Historic Financials.  
Attached are the Draft Financial statements to May 31.  They are on a cash basis, require many explanations and adjustments and as such have limited usefulness to the business. There are many things missing (inventory, capital provided etc.) and "wrong" (inventory, revenue and cost accruals) that have to remedied. To fix these and be able to report to normal level of confidence will take at least 3 month end closes.  I.e October, reporting on September Month end.

To elaborate, the key element is Inventory accounting for which no operational system exists and which none appears planned for the change over to the new front end Magenta system. Assuming this can be implemented operationally, concurrent with the new warehouse occupation in July / August, then picking up the accounting back end and getting stock reconciliation's etc done here and in Hong Kong, and cleaned up by September month end is a tough schedule but realistic.  Its worth restating that without supply chain operational controls i.e purchases orders, goods received and dispatched notes & inventory, no reliance should be placed on any financial statements.

The other issues, primarily accrual and catching up ones, can always be caught up and fixed with resources, but the critical path is governed by inventory.  

2. Organizational Issues
The accruals problem is a good window into some of the organizational challenges and can best be seen through the hosting product. The accounting here requires that revenue be recognized over the course of the hosting period (12 months) along with costs.  Additionally, we would capitalize and amortize fixed costs in setting up the data center and accrue for operational ones.  To do this as a regular and normal activity, requires that the company have the people, operational processes and policies capable of this level of sophistication.  We don't.

To elaborate further, we have great people, highly motivated but with limited business and financial management experience, particularly for what is now appropriate for a company of some size and aspirations to be something much bigger.  Similarly, our processes and polices are fine for what existed but do not scale.  There is much to be done in terms of education, training and management development.

3. Normal Financial Management: Financial Control, Budgets, Variance Reporting Accountability etc
All of this needs to happen but I cannot see this in place till 2015, the critical path being dictated by the availability of good numbers per (1).  Otherwise its Garbage In /  Garbage Out.

Moreover, for this to work, requires the similar development of the organization per (2) above.  Basic Issues such a demarcation of cost and profit centers, budget holders, KPI's and job holder accountability and reporting etc.

For example, implementing a budget could be done as a a 'top down" process when what is required for the development of the company is a "bottoms up" process through the normal collaboration, iterations and compromise of the budgeting cycle.  To be effective, financial control has to be approached across the organization in a holistic manner rather than Accounting and Finance being the tail that wags that dog.

We are less than 3 months into the Miners business and these are off course "good" problems to have, dictated by the success of the business.  Equally, I am aware that we have many future opportunities that we are racing towards and there is always a balance that has to be struck between full speed ahead and out running our headlights and crashing at the first corner.  These are issues that have to addressed that both strategically and tactically and require your input and direction.

Shiraz



 

Subject:    Re: Booth for Hashers United
Date:    Fri, 03 Oct 2014 19:55:25 -0700
From:    Marshall Long <marshall.long@me.com>
To:    Josh Garza <josh@btc.com>



Ok,

Calm your tits. If your team comes early, and commandeers an adjacent space, and sets up in time, Ill just pat your ass and cup your balls. Tell your team to plan better bro. We literally finalized the floor plan 1 hour before amber called. That is not on me. However, I love your balls and it is fine.

But you gotta give me an hj. Deal?

From: Josh Garza <josh@btc.com>
Date: Friday, October 3, 2014 at 7:40 PM
To: Marshall Long <marshall.long@me.com>
Subject: Fwd: Booth for Hashers United

You got to be kidding? We paid you 20k

Don't make this an issue you asshat

---------- Forwarded message ----------
From: "Amber Messer" <amber@gawminers.com>
Date: Oct 3, 2014 9:46 PM
Subject: Booth for Hashers United
To: "Evan Jones" <ejones@gawminers.com>, "Josh Garza" <josh@btc.com>, "Rami Abramov" <rami@btc.com>, "Christian Gogol" <christian@gawminers.com>
Cc:

Hi guys,
Sorry for the late notice. I just spoke with Marshall from Final Hash. If we use the 20x10 structure Monica created for us, they are saying we will have to get an additional both, which will cost extra.

I spoke with Monica and she said we can use just 10ft of the booth if we want, its still functional that way.

So my question is, do we want to use the whole structure and pay for the extra space, use 10ft and stay at the same price, or i can try to get the extra space without extra cost(so far hasn't worked for me)

Thank you for your thoughts!

Subject: SMS from Marshall Long [(972) 658-8670]
Date: Wed, 24 Sep 2014 11:04:31 +0000
From: Marshall Long (SMS) <18025798360.19726588670.jGP6392m7h@txt.voice.google.com>
To: josh@geniusesatwork.com

Its all good dude. Im just bustin your balls.

Subject:    Re: Let's Race Cars in Vegas
Date:    Wed, 01 Oct 2014 23:24:55 +0000 (GMT)
From:    marshall.long@me.com <marshall.long@me.com>
To:    josh@btc.com

Yo let me in on the live interview bro. Il cup your balls


Sent from my Sprint phone


------ Original message------

From: Josh Garza

Date: Wed, Oct 1, 2014 16:04

To: Marshall Long;

Cc: Marco Streng;Abram Kottmeier;Leo Iruke;

Subject:Re: Let's Race Cars in Vegas


hurry, or I am going to make them choose one of your questions for the live interview


Josh Garza
CEO- GAW Corp

On Wed, Oct 1, 2014 at 5:02 PM, Marshall Long <marshall.long@me.com> wrote:

    Hahaha. Its on the charger. Imma call u in 1 minute

    From: Josh Garza <josh@btc.com>
    Date: Wednesday, October 1, 2014 at 5:59 PM
    To: Marshall Long <marshall.long@me.com>
    Cc: Marco Streng <marco.streng@genesis-mining.com>, Abram Kottmeier <abramkottmeier@gmail.com>, Leo Iruke <leoslaw@gmail.com>

    Subject: Re: Let's Race Cars in Vegas

    i am reneging

    pick up your phone!


    Josh Garza
    CEO- GAW Corp

    On Wed, Oct 1, 2014 at 4:58 PM, Marshall Long <marshall.long@me.com> wrote:

        Nobody cares. You picked the mclaren. Live with your choice rook

        From: Josh Garza <josh@btc.com>
        Date: Wednesday, October 1, 2014 at 5:56 PM
        To: Marshall Long <marshall.long@me.com>
        Cc: Marco Streng <marco.streng@genesis-mining.com>, Abram Kottmeier <abramkottmeier@gmail.com>, <leoslaw@gmail.com>

        Subject: Re: Let's Race Cars in Vegas

        I want that one, thats the only one I don’t already have


        Josh Garza
        CEO- GAW Corp

        On Wed, Oct 1, 2014 at 4:55 PM, Marshall Long <marshall.long@me.com> wrote:

            Give him the huracan… marco yu cant just say lambo dude…

            From: Marco Streng <marco.streng@genesis-mining.com>
            Date: Wednesday, October 1, 2014 at 5:41 PM
            To: Marshall Long <marshall.long@me.com>, Abram Kottmeier <abramkottmeier@gmail.com>, <Josh@btc.com>, <leoslaw@gmail.com>

            Subject: Re: Let's Race Cars in Vegas

            Haha, then let's go with the lambo. Is that fine Abram?
            Thank you guys btw. this is really a great idea!

            Greetings,
            Marco

            Am 01.10.2014 22:23, schrieb Marshall Long:
>             Marco,
>
>             Here are your options.
>
>             Www.exoticsracing.com
>             No bugatti’s. Don’t be greedy bud
>
>             From: Marco Streng <marco.streng@genesis-mining.com>
>             Date: Wednesday, October 1, 2014 at 5:20 PM
>             To: Abram Kottmeier <abramkottmeier@gmail.com>, <Josh@btc.com>, <leoslaw@gmail.com>, Marshall Long <marshall.long@me.com>, Dave Carlson <dave@megabigpower.com>
>             Subject: Re: Let's Race Cars in Vegas
>
>             Haha, that sounds fantastic! Let's get it rolling
>
>             Wednesday noon is perfect!
>
>             Is bugatti veyron also an option?
>
>             Greetings from Munich,
>             Marco
>
>             Am 01.10.2014 22:31, schrieb Abram Kottmeier:
>>             Hope everyone's Wednesday is rocking!
>>
>>             I've been working with Dave Carlson and Mega Big Power for a few months now. He suggested we get a group of guys together and go race exotic cars out the Las Vegas Motor Speedway. If we do it on Wednesday it could be a perfect break in between shows and a whole lot of fun. We can race Ferrari's, Lambo's, they've even got a McLaren.
>>
>>             Dave's been gracious enough to cover a 5-lap sessi

Subject: Be careful, please
Date: Wed, 17 Dec 2014 03:23:08 -0700
From: Payton Peterson <pcprovideo@gmail.com>
To: Josh Garza <josh@btc.com>

Josh,

Some of us are worried about you. Recently, I have had some of my close HT friends contact me and ask how we can express our concern. We concluded that I send you an email, and not list their names. Mostly because I was the only one who had the balls to do it - everyone else had fear that you would not like them and ban them if they expressed their opinions. So here I am.

We are worried about what you say in public/private, and how sometimes things don't get communicated in the best manner.

You are getting a lot of hate lately, which is normal for a company - but should be addressed in a different manner. Maybe consider bringing on a PR firm to help you with this. I can expand more on this if you would like.

After talking to some people that are new to PayCoin, I asked them - how big does GAW seem to you? One replied, "I would say 5 people or so". The other replied, "It's run by Josh and Eric right?"

That right there, made me realize that you should consider adding some depth to your company on a public level. People will take you a lot more seriously if they realize there are a lot of people involved.

This means, stop addressing everything yourself. That is something the majority of people who contacted me wanted me to say.

You have posted publicly your plans for the company, and the information you need to post. Users can read that and go from there. No need to get into arguments with others on different forums.

One of the HT users who actually manages several public companies PR overseas told me:

"I think Josh should stop making everything so personal, especially when making announcements. It's one thing to announce representing a company, and another to do it personally. People get upset when personal promises are broken, but not so much what a company promises. All he has to say is, "my company informed me incorrectly as far as timing for this launch" which would take a lot of the heat off him."

Next, tonight one of my friends brought me dinner to my house (I'm sick, got an awful fever and can hardly function). He chilled (far away from me) and we talked about what I'm currently up to in life. I mentioned you guys and he went on his laptop to find some info on you while I ate.

After a while, he told me that the PayCoin idea was quite cool and that he wants to invest some money into it. He asked where he can stay updated with what is going on and I told him to follow you on Twitter. After a couple moments he told me, "Why would I invest in a company that their own CEO can't even spell?". I laughed and told him you had a long night probably. Read your most recent tweet.

On that note.

Something that was brought up often was your spelling.

Just clean up your text before you post on BTCTalk, Twitter, etc. It's a simple step that makes you look a lot more impressive if done properly.

Sometimes before I tweet something, I save the tweet as a draft, go do something for a while, then come back and reanalyze it. It's then that I usually notice the flaws and correct them.

Also on that note, the reason I'm not interested in running your Twitter is because I feel like we would clash heads too often. There is a lot of stuff you post that many of us think is quite arrogant and only adds to the flames directed at GAW. A lot of the stuff you post I would delete, which would make you angry.

Also - no need to argue with people on twitter. Most CEOs don't even reply to people; that is both a strategic and feasible move.

A reasonable idea that someone pitched to me - give Amber access to your twitter. Text her your ideas for tweets. She spell checks them and PC's them and posts it. That's all. No blocking people you don't like, or replying with smart answers. That will just cause more drama - which you don't need.

Anyways, we all have high hopes for this company - and wanted to voice a couple concerns to you, which we hope you consider knowing we are here to help.

-Payton & Hashers

(Excuse my spelling. I can't think straight at 101.2F and was pestered to get this written and sent to you)

Arrest Processing Photos
To request a mug shots taken by the Vermont State Police for a VSP arrest, send a message to dps.mugshots@state.vt.us. When making a mug shot request, it is imperative that you include the name, age, date of arrest, and the barracks from which the suspect was arrested. Please keep in mind an arrest processing photo may not exist if the suspect was cited and released or if extenuating circumstances prevented a photo from being taken.

The Vermont State Police cannot release arrest processing photos taken by another agency.

Also, not registered in deleware and texas charges to search their database, so not gonna pay the $1 to search because they'd probably just loose all my credit card data to swindlers.

That's why I keep asking him to post the specifics:
- When/where was it registered
- When was the IRS application submitted (and who are the three board members)
- Make finances public on a monthly basis since they're made public on an annual basis anyway.

If they can do at least the first two immediately, then this "XPYTrust" probably doesn't exist, so it can't own anything... that means that Joe is the defacto owner of the five prime controllers if no one else is willing to come forward. Even in their foundation video conference, they said that FOUR prime controllers were donated, so that still leaves one prime controller that appears to be owned by Joe independently of everything else.

If he comes back can someone ask him if he can provide documentation on the non profit status of XPYTrust?

Subject:    Re: CCN Interview
Date:    Mon, 24 Nov 2014 13:52:41 -0500
From:    David McLain <dave@geniusesatwork.com>
To:    Dan Kelley <dan@voiceprodigy.com>


understood

David H. McLain, Esq.
General Counsel
Geniuses at Work Corporation / GAW Miners, LLC
Direct dial:  267-257-8945

________________
Inline image 2


On Mon, Nov 24, 2014 at 1:39 PM, Dan Kelley <dan@geniusesatwork.com> wrote:

    Thanks - technically, we did bring in $$$ from private parties who purchased specially priced Hashlets set for conversion to coin.

    I will talk to Josh about being a lot more careful - though all I can do is suggest

    Dan

    Daniel J. Kelley
    President, COO
    Geniuses at Work
    34 East Dudley Town Rd.
    Bloomfield CT. 06002
    866-554-5861 ext 230

    Inline image 2
    CHANGING LIVES THROUGH INNOVATION

    On Mon, Nov 24, 2014 at 1:26 PM, David McLain <dave@geniusesatwork.com> wrote:

        fyi - link to interview (and some follow-up comments between Andy and Josh below):

        https://www.cryptocoinsnews.com/josh-garza-to-launch-paycoin-media-tour/


        David H. McLain, Esq.
        General Counsel
        Geniuses at Work Corporation / GAW Miners, LLC
        Direct dial:  267-257-8945

        ________________
        Inline image 2


        ---------- Forwarded message ----------
        From: Andy Beal <andy@crowleystrategy.com>
        Date: Fri, Nov 21, 2014 at 7:22 PM
        Subject: Fwd: CCN Interview
        To: David McLain <dave@geniusesatwork.com>


        see below...

        Begin forwarded message:

>         From: Josh Garza <josh@btc.com>
>         Subject: Re: CCN Interview
>         Date: November 21, 2014 at 4:01:50 PM PST
>         To: Andy Beal <andy@crowleystrategy.com>
>
>         Um? thats exactly the same thing. We are private investors and we have the company a crap done of money for the specific purpose of a reserve fund of the coin. We used a note in instead of the coin, and once the coin is available, we will exercise the note.
>
>         this is the exact thing that was said:
>
>         "We’ve struck deals for a ton of private funding round coins"
>
>
>         Josh Garza
>         CEO- GAW Corp
>
>         On Fri, Nov 21, 2014 at 6:57 PM, Andy Beal <andy@crowleystrategy.com> wrote:
>
>             Ok. But you and a partner setting aside your money in escrow is different than taking in money from a bunch of private investors.  
>
>             On Nov 21, 2014, at 3:40 PM, Josh Garza <josh@btc.com> wrote:
>
>>             You and I went over this on the phone the other day. I told you that my partner and I have escrowed money to stand in as the reserve, and then purchase the coins when are we are able to.
>>
>>
>>             Josh Garza
>>             CEO- GAW Corp
>>
>>             On Fri, Nov 21, 2014 at 6:38 PM, Andy Beal <andy@crowleystrategy.com> wrote:
>>
>>                 Josh - you’re CCN interview makes it sound like you took in a lot of “Round 1” money from private investors. Did this happen?
>>
>>
>>
>>
>>             “The information contained in this email message may be confidential. If you are not the intended recipient any use, distribution, disclosure or copying of this information is prohibited. If you receive this email in error, please tell us by return email and destroy this communication and any attachments from your system.”
>
>
>
>         “The information contained in this email message may be confidential. If you are not the intended recipient any use, distribution, disclosure or copying of this information is prohibited. If you receive this email in error, please tell us by return email and destroy this communication and any attachments from your system.”

Subject:    let me help
Date:    Tue, 16 Sep 2014 23:59:46 -0400
From:    Alan Harmon <alan@gawminers.com>
To:    Josh Garza <josh@gaw.com>


Josh,
I know you have much on your mind and at times can feel overwhelmed. Perhaps you even think I don't really give a damn about you or this company but nothing can be further from the truth if you do.

I came here to help. Help build an empire, yet I find myself being marginalized and pushed out. Involve me! I'm not used to being in a position where I have to google my company to find out whats going on. A wise man told me "this is a family company. our family".

Please, don't underestimate me. I know more than I say, think more than I speak and notice more than you realize.

Kind regards,
Alan

Subject:    Re: Status
Date:    Wed, 4 Jun 2014 09:22:14 -0500
From:    Alan Harmon <tango1860@gmail.com>
To:    Josh Garza <josh@gaw.com>
Hi Josh,
You're right about it being a no brainer. I have an appointment with Ramy in a couple of hours and am approaching this as I would any interview.

I am currently at 60k + bonus. I have only received 1 of 3 annual bonus checks and it was 3k coming off a bad trimester (I had to get the place cleaned up).

I am OCD about organization, deadlines and accuracy. I have overseen distribution and logistics in several organizations in 3 different countries including a 100,000 sq ft DC in Arabia.

From your brief description, this sound like an exciting challenge. I'm all about growing the business and enjoy challenging the previous reporting period and watching the results.

In my current position, the first thing I do daily is see where I am against the same period last year. I am showing 30 to 40% increases in a market where the owner told me there was no growth potential. I am #1 in the company in sales increase with #2 up 5% (and 3.5% of that is increase in COG).

Sounds exciting. Let's grow this!

Alan 


On Tue, Jun 3, 2014 at 10:41 PM, Josh Garza <josh@gaw.com> wrote:

    Hey Alan,

    So I know Ramy is/has synced up with you. This is for formality purposes. I know what your capable of.

    Here is the scoop.

    I need someone to run and build out warehouse and fulfillment out, make it run like clock work.

    In 2 months I have grown this company into to the largest mining hardware company in the world. We stay on track, we will do 100+mm in the next 12 months

    Lets make this work. You can work for the family business (all of us) that we all own. Stay in one spot, and live by your daughter and Grandkids. Its a no brainer.

    What are you making now?

    Josh Garza
    CEO
    GAW
    280 North Main Street, Suite 2
    East Longmeadow, MA 01028

    Toll Free: 888-978-4143
    Direct Line: 413-206-2500
    Fax: 413-206-7101
    Josh@gaw.com

    www.GAW.com

    “The information contained in this email message may be confidential. If you are not the intended recipient any use, distribution, disclosure or copying of this information is prohibited. If you receive this email in error, please tell us by return email and destroy this communication and any attachments from your system.”