If the company failed it failed and there is nothing to do about it.  Any remaining funds need to be distributed per share to the share holders.

Ok, So the BE300 is dead (If the chips aren't ordered we are already months behind competition now), there is no point in carrying on.  What is the liquidation plan?

Yeah, Quadrupling Producing 20x the current network hash rate just to break even seems like it is probably a bad idea.

Why do people with apparent inside knowledge trickle out tiny little bits?  What the hell is this?  Is it something that you received from an AM employee today?  A handout from a meeting months ago?  Something you printed at home because you were bored?

Posting a tidbit of information with no sourcing or context is infuriatingly useless.

Does anyone have the slightest shred of evidence that Friedcat bailed, or that any of the claims for the new chips are false.  All I see is one vague statement by Canary, and another one stating he wants to shake Friedcat out of hiding.  

If you look back our feline friend went from January 29 to March 24 last year without posting an update while the BE200 was in a similar stage of development.  I don't see any reason to freak out when he does it again this year.  If any of you have any real evidence of malfeasance, please bring it forward, otherwise please stop wasting my time with your baseless speculation.

In the meantime, I'll join Dhenson with an offer to buy your "worthless" shares.    

Havelock - After this much downtime I hope you are going to clear the order book before coming back up.

Remember when we mined the block where some poor guy accidentally included a 200 BTC transaction fee?  Friedcat refunded it immediately.  Nobody could have done anything had he kept it.  Thousands of dollars straight out of his own pocket.  He didn't waffle about it.  He didn't consult the opinions of others.  He just did the right thing and gave the guy his money back.

ASICminer may sink or swim.  They have made some pretty glaring missteps and pissed away whatever advantage they once had to dominate the market.  But they did it honestly.  They have paid back 6 times IPO, it isn't Friedcat's fault people got carried away on the price they paid for shares.  He could have sold out and walked away a rich man.  He didn't.

Whatever problems there have been are understandable albeit disappointing.  They are slamming out custom chip designs as fast as they can and rushing them into production.  Failure shouldn't be a surprise to anyone.  THIS IS NOT AN INVESTMENT, it is speculation.  Startups fail, only something like 1 in 10 ever turn a profit for initial investors.

I believe ASICminer's management team is honest.  I have reasonable faith they are learning from their mistakes.  I am certain that this company is the only shot I have at being profitably involved in mining going forward.  I recognize that my money could evaporate into nothing.  If Gen 4 succeeds I calculate we could make a tidy profit with today's share price.  The last year has sucked, but that is meaningless going forward.  

Mehh, although this news is disappointing, it isn't unexpected.  It has very much been priced in already.  I don't think anybody was expecting any Divs from Gen3 at this point.  Mining is a tough game with falling btc prices.  Hopefully the price of BTC stabilizes and rises for Gen4 so people start buying equipment again.

1. Hedging.  By selling hashpower up front for what you expect the profits to be eventually anyway you protect yourself from unexpected difficulty increase.

2. Pulling profits forward.  By selling instead of self mining you get your profits now rather than across the next year.

3. Simple profits.  If you can truly sell electricity cheaper than people can buy it at home and turn a profit doing it...why the hell not?  It has long been theorized that bitcoin will eventually be used to "export" cheap power.

There should have been another board meeting by now.  Someone page Jutarul.

It wasn't 300 in a day or an hour.  It was hundreds in a second.  Considering how thin the market is that type of sell is pretty ridiculous.

Holy dump batman!  Someone is trying to start a panic.

I believe that he only thing he owes us is equal dividend per share.  By holding the majority of shares himself, his decisions on when/if to release information are 100% his to make.  I may not like it, but I certainly don't believe it is my "right" to know more.  I can get out any time I want if I decide he is doing it wrong.  This is a system that is ripe for abuse, but it is the system that we all chose to get involved in by trading in an unregulated market. 

Yeah, unlike a lot of these people I don't believe Friedcat "owes" us information.  His only responsibility to us is to not steal from the company.  But It sure would be great If we could get at least a heartbeat message. 

"Not enough reserves for dividends, Gen 4 on schedule"   style messages once a month would be plenty for me.

I miss back when Wednesday was the best day of the week.  Now it is just depressing.  It's been so long without divs I'm not even sure how many shares I own. 

I agree.  From what I can see with our limited information, it looks like we nearly ran out of money with the Gen 3 launch, and started with much smaller batches than we should have.  Using May sales to pay for July production because we overpaid dividends was IMHO Asicminer's biggest blunder so far.  Every day lost to lack of funding was money thrown away.  Given the efficiency achieved at 40nm compared to competition coupled with the move to 28 nm and FriedCat's anticipated design improvements, Gen 4 should be something special, and to starve it due to short funding would be criminal.

I don't get all this talk like it is possible we haven't sold or deployed anything.  Remember that giant farm everyone was talking about last week?  The one that had 5% of the network and was only ~2/3 completed.  The one that you could clearly tell from the pictures was filled with Hashratio devices built with BE200s.  That facility alone will be eating a minimum of 15 PH of AM chips when finished.  That is one facility, one customer.   The article wasn't even clear that the 5% figure was for the entire site, and not just one building, that makes it possible (if not likely) that site may wind up being 40 PH+ installed.

We know there are other partners.  We know there are direct sales.  We know there is self mining.  This generation of chips is obvioualy a disappointment, but it isn't like the company is about to go under.  Everybody need to take a couple deep breaths and chill.   Or don't, I'll buy some more shares at .12.

Ambitious but hardly impossible.  I think even Butterfly Labs could build 20,000 devices in 5 months (assuming you gave them some functioning chips).  Friedcat has most of the short order high tech manufacturing capacity that the world has to offer right in his neighboorhood.  He could contract with Foxconn and have those built in literally days if he had all the parts ready.  most of us in the rest of the world can't wrap our heads around how fast the Chinese can turn product.  It is really mind boggling if you look into it a little.

Either this or start our own pool that mimics the payouts of Ghash.io.  I think most people would like to get off of Ghash if there were an option as profitible to hop into.  Running a pool would be a really nice way to get continuing income as well.  With the hashrate we command it shouldn't be hard to get the ball rolling on a ghash competitor, maybe even just straight up buy out a smaller pool that already exists.

I don't understand why no one gets that the price of BTC going up is a good thing.  The higher the price of BTC the more we can charge per H/s.  The price we can charge will increase proportionally while our costs remain fixed, thus more profit.  BTC price increased by a bigger percentage last month than difficulty did.  That means we should be able to sell chips for MORE now than we could a month ago (in dollars).