Information under 'details' on BTCT.CO (locked security 'LABCOIN') updated. Questions and comments welcome.

I also have a few questions for the forum:

Q: What would you rather see? 7 million shares @ 0.001 OR 700.000 shares @ 0.01 ?
A: I suggest 700.000 shares (1 million overall); if further dilution is required, share splitting would be an option

Q: Is there interest in "Board seat" style offering where for example 250.000 shares would give the owner the right to join 'virtual board meetings' and represent share holders in project management and decision making etc?
A: I vote this; however we need the definitive number for "board seats"

Q: We are considering asking Burnside for the option of "direct shares" that could be 'removed' from BTCT.CO and traded outside of the exchange. Is there interest for a independent owner registry of 'Labcoin 100' shares (1 Labcoin 100 share would be equal to 100 Labcoin shares as listed on BTCT.CO) for easier off-exchange trading of larger blocks of shares for larger share holders?
A: I second this. While burnside has yet to prove otherwise, there are some that would like that option of "direct shares" to remove any possibility of "3rd party intervention."

Remember, these are just questions based on suggestions from forum members.

Most Importantly, it allows them to collect on even more hashing power without technically 51%ing the network. Rather than just sell off 100 th of equipment (to make up a number), where they collect up front at the e Penske of their own mining operation, they can sell, make back costs and then some,and incrementally collect on even more hashing power in the network. The asicminer pool might only have 20%-30 of the network,but through this scheme, they could end up providing, and collecting on, in excess of 51% of the network without too many alarm bells going off. 

Friedcat was first out the door and he owns this network. The only reason he's not 51 of it now is sheer kindness. May as well be called the friedcat payment network. And yes, I own shares. Passthroughs. Though I'm starting to wonder about direct ownership.

If that is the API which has been in beta since forever, I beg of you.... Please hook me up with some info about how can I get my hands on that beauty.

Train will remain alive and well until the next official hardware announcement... then we'll all be bitching about not buyiing enough shares under BTC6.

+1

The next mining company will hopefully give us a pre-announcement that their will be an upcoming announcement of the "official announcement".  That's how we know they are serious...who will be the first one to go 3 deep on their pre-anouncement announcements?  

Solution 1: Build a 2nd factory somewhere.

That is cheap but dont you have to wait 4 days to get coins? and dont they cancel orders when the market conditions change?

Update

Financial Status

Mining Income: 102,041.82BTC
Blade Sales Income: 29,594.75BTC
USB Sales Income: 37,524.00BTC
Total: 169,520.57BTC

Device and Infrastructure Expense: 397,800.00$ + 4,909,930.00￥
Electricity Expense: 729,542.05￥
Labor Expense: 327,081.00￥
Logistics Expense: 132,184.90￥
Deposits: 117,506.01￥
Total: 397,800.00$+6,216,243.96￥

Balance Sheet: https://docs.google.com/spreadsheet/ccc?key=0Al1fvFT7Sd5bdEthNEpIWWxpcW90RFBQOFZ6aFlxT0E&usp=sharing

Hardware Franchising

This is a new business model option besides self-mining and hardware sales. We will rent the excessive hashing power to financial and technical capable people, accepting full deposits at the market price, shipping the devices and collecting a certain PPS rate based on the theoretical hashrate. The PPS rate, the dividing of cost coverage, as well as warranty/exit strategy are being discussed in detail and executed as small-scale experiments.

This model is similar to hardware sales in the aspect that we do not have in control on how the users make use of our devices, therefore has more decentralization in spirit. And like with self-mining, it aims at settings in scale, enjoying the reduction of NRE cost and operating cost overall, and reducing potential marketing/advertisement/customer service costs.

Project Timeline

August-September: Deploy/sell all hashpower arriving in July and early August.
September-November: Deploy/sell the hashpower ordered at early July.
November-December: Experimental products of 2nd-gen chips and modular large-scale deployment solutions.

About 2k coins moved in the last 10 minutes...

looks like the price is going up in anticipation of the news, today.

It depends.
You know,most time, they work overtime,more than you can image.

Issues have been solved.
The manufactory is working on it.

we are pleased to have friedcat and crew on the Hartford, CT IRP list as his expertise is a valuable asset he give an abundance of slack!(=