Bitmine.ch Update

Bitmine.ch has released an update about their Coin Craft Rigs (of which RSM has one on order). The news is promising. If your interested take some time to read the latest news here.

MAY 1 Dividends Summary

Dividends

Dividends for the Month of April (May 1^st dividends) are out. Summary of Divs below:

Item Amount Divs Total 0.50000000 Shares 132,000 Divs Per Share 0.00000378

April Financial Summary

Item Amount Revenue 0.07448159 Revenue Adjust 0.00000000 Costs -0.59170194 Cost Adjust 0.59170194 Post Cost Revenue 0.07448159 Salaries* 0.00372408 Salaries Adjust 0.25000000 Post Salary Revenue 0.07075751 Re-Invest 0.06014388 Buyback 0.00353788 Divs 0.00707575 Divs Adjust 0.49292425 Final Divs 0.50000000

We had our final bitcoin payout from our Jupiter’s mining this month. This constituted our only mining revenues. Our costs were the Hosting & Salary costs from February and March as we hadn’t paid out our February costs.

The dividend from last month was paid out of the Jupiter Sale and Neptune Refund money and didn’t show up in our mining address. You can view the full list of our accounts on our 2014 Q1 Financial Statement.

Approximately 7mBTC of our dividend came from mining income the remaining 0.49 BTC came from our Jupiter and Neptune Sales. A similar breakdown (3mBTC; 0.25 BTC) was used for salaries. There is 6.7 BTC left in the Dividend fund from the sales which we plan to disperse monthly at a rate of 0.5 BTC or 1/12^th of what is left in the fund whichever is lesser.

New Motion Up

RSM has placed a New Motion up on Loomio. Motion Text Below:


Please head over to Loomio to vote. If you are a shareholder and do not have access to our loomio group please email chris@redstarmining.com with your relevant information and we will get you invited.

A good Darkcoin and X11 mining calculator - http://x11mining.n00bsys0p.co.uk

Red Star Mining 2014 Q1 Financial Statement

Red Star Mining is releasing it's 2014 Quarter 1 Financial Statement. You can download it in pdf format here or view it on Google Docs.

The latest news from Alpha was on April 14th to say that they were initiating tape-out - https://alpha-t.net/news - That means that they're on schedule.  We haven't paid in full yet for our four pre-ordered >90MH/s rigs.  While they did state that they would ask for full payment eight to ten weeks before shipping.  So when we announce that we've paid in full for the rigs then that should be a good indicator on how long is left before we starting hashing.

As for the Gridseed devices well we don't think that they would ROI in coins before the Alpha's are released and make the Gridseed's unprofitable.

KNC Neptune Refund Received

Our KNC Neptune order has been refunded. Total refund was 102 xbt, more bitcoin than we believed the Neptunes would mine in their operational lifetime. Of the 102 xbt approximately 46 xbt is a bitcoin profit meaning approximately 2.3 xbt will be allocated to buyback and salaries with a further 4.6 xbt associated with dividends.

This is in addition to our Jupiter Sale funds allocated for Dividends, Salaries and Buybacks. With these added funds we can sustain a dividend of 0.5 xbt for over a year.

RSM plans to utilize these funds in a similar way to our past purchases. To wait for in hand hardware that we can purchase. Ideally leveraging a higher bitcoin price.

BTC in Space Going Well

Coindesk is reporting that a project RSM is an official sponsor of, the Bitsat project, has signed an agreement with Dunvegan Space Systems Inc. to launch their satelites into space.

2014 Q1 Financial Summary

It's coming! Just a few more finishing touches left and we'll have the Q1 Summary out.

We applied for our Neptune refunds on April the 9th IIRC and received it earlier today.

April 1st Dividends Summary

Dividends

Dividends for the Month of March (April 1^st dividends) are out. Summary of Divs below:

Item	Amount
Divs Total	0.50000000
Shares	132,000
Divs/Share	0.00000378

Buyback

You may have noticed that the total Share amount is lower than it was last month. That's because another 1,000 shares have been bought back off the market through our share buyback policy. This leaves us with a total of 132,000 shares on the market.

2014 Q1 Financial Statement

In accordance with our new policy we will now be releasing Financial Summaries and quarterly statements. Our next full financial statement is being prepared. We hope to be in a position to release it by April 30th although we understand that this goal may not be possible due to the large size of the report.

March Financial Summary (April 1^st)

Item	Value
Revenue	1.38504707
Revenue Adjust	-1.38504707
Costs	-1.31450612
Cost Adjust	1.31450612
Post Cost Revenue	0.00000000
Salaries	0.00000000
Salaries Adjust	0.25000000
Post Salary Revenue	0.00000000
Re-Invest	0.00000000
Buyback	0.00000000
Divs	0.00000000
Divs Adjust	0.50000000
Final Divs	0.50000000

We had no mining revenue this month. Last month we sold off our Jupiters and this provided the funds for the salary fund and the dividend (with the remainder to be paid out over the next months. Our "Revenues" for this month were in relation to our motion. In which we took money from our buyback fund in preparation to invest it in other places. This option at the moment is not being exercised as the price in our opinion is too low. The costs were primarily for our new p2pool

In accordance with the Jupiter sales we have exercised our an additional 0.500 BTC for this dividend with the expectation that we will pay the remainder out over the next few months with the ultimate goal of maintaining a dividend between 0.5 BTC and 1.0 BTC. Additionally we've exercised 0.25 BTC from the Jupiter Sale to the Salaries Fund with the expectation that we will continue to do so until the Jupiter Sale Salary Fund is Depleted.

PSA: 796 Post Heartbleed

796.com, the market provider for RSM shares, has re-issued it's SSL certificate (did so on 4/7/2014) and is requiring customers to change their passwords post heartbleed. Please be sure to login to 796.com and change your password. Also if you haven't done so already please also enable two factor authentication.

Google+ - www.google.co/+Redstarmining

Twitter - www.twitter.com/redstarmining

For new interested parties please check our home page - www.redstarmining.com

This is the new thread for RSM shareholders and investors.