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Fried Cat
Please comment on when share holders can expect dividends and what the companies current financials are. It sounds bad. We might not get dividends until after new chips deploy in 2015 and again that's a maybe.
Please also comment on whether you or other owners are taking a salary from operations or if your only return is from dividends?
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The IPo and stock proce don't worry me. I want FC to address the obvious change in operating plans since he announced that dividends would be aggressive.
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That's the thing. If he said that he's retaining to fund gen 4 and provides a financial statement that would be acceptable. He can't simply retain the earnings without addressing this though since he announced that dibs would be aggressive!
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2014-08-14 21:45:49
first newly generated coins
Now that is exciting. I wish I had placed a few more shares this morning. |
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Ok, the Pr guy can't log in often and I understand posting in the sales thread but why not swing by here to give an update that would take 1-2 minutes.
He is not a PR guy, but a 'sales' guy. He pointed that out in the past. Well maybe he will pass on to Fried Cat that we would appreciate an update. I'm tempted to email him at the adress provided to see if someone will respond. |
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Ok, the Pr guy can't log in often and I understand posting in the sales thread but why not swing by here to give an update that would take 1-2 minutes.
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And also, I've posted these damn addresses so many times now that I can't understand how the stock still trades at levels below below AM's on-hand cash per share:
There is no communication from AM. There are lots of addresses out there that have money. That doesn't mean they are gonna send that money to you. There is no reason to believe friedcat has any intention of ever paying any dividend again. This is the BTC world, and you can take your money and run and get away with it. And even if he did this, there would still be tons of fanboys in this very thread defending him based on the fact that he "already paid shareholders back their IPO price many times over" or some such nonsense. AM could have all the hash rate in the world but if they have no intention of honoring the shares and paying out dividends, then the shares are worth nothing. All that even ignores the fact that the addresses you link to aren't even actually known to belong to AM; it is purely speculation. And for your other points: In addition to the cash value, there's also stocked inventory, what probably amounts to an unholy sum of fiat in RMB and USD, 3 proprietary chip designs (4 if we'd ever count gen2 for any reason), and (though admittedly dwindling) a surplus of goodwill generated primarily from pulling IPO investors past ROI. I also wouldn't be surprised if gen4 manufacturing was already contracted out and a fiat deposit submitted.
- How much "stocked inventory"? What is it worth? Is anyone buying it? No one knows. No communication. - How much fiat? Any? Maybe none? Maybe just giant outstanding liabilities and nothing to pay them with? No one knows. No communication. - 3 proprietary chip designs? One is no longer at all relevant. One is barely good enough to sell barely at cost. And one is nothing but a rumor based on a single post, like false promises about "PR". Is gen 4 real? No one knows. No communication. - Good will? The only people with good will left towards AM are a few fanboys. Why is the good will dwindling? No communication. Frankly, AM has shown little but contempt for the shareholders with their complete lack of communication. The shares have lost 98% of their value from their peak and the remaining 2% is propped up by nothing but empty faith and denial by a couple fanboys. If you have to ask why the shares are worth nothing, realize that this company has: - no communication - no dividends - no credibility Whether this is FUD or not, it's nice to see someone that doesn't come in here and spout positive shit out of their ass to try to justify FriedCats actions. The situation with AM has gotten extremely bad. Much worse than before. Fried Cat or a board member should address our concerns. Honestly if a board member just dropped in and said I've had contact with FC in the last week and things are progressing I would be happy. But the investors aren't even worth FC spending a second to update. |
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Are the small payments to that address from franchisees? They seem to be regular contributions and if those were franchisee revenues that would be disappointing to say the least.
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In a few words:
- No upside. There is absolutely no upside whatsoever in revealing the strategy to the public. Rule #1 of business, don't give away your strategy. If you do, it's for pushing around the competition or raise money. They don't need to do any of that right now.
- You have no power. if FC had wanted to run away you could not do anything about it anyways. Info or no info.
With info: No one would want to buy your shares.
Without info, you would not know, but the market would be so thin no one would buy.
- You have proof of honesty and no proof of dishonesty. Honesty is demonstrated by track record, products shipping and conference. Not by incessant online blabbering ("communication"). Cf. all the other scams who gave ample information about things that did not exist.
A final word if you are still not convinced: if AM was a scam, they would try to unload as many shares as possible at a high price. For that they would communicate a lot and build expectation to jack up the stock price. That did not happen.
Investing is not for everyone, you need an attention span of months and determination. If you don't have the necessary attention span, it's called speculation. AM has designed its business and communication strategy to attract investors and shake off the speculators. This situation is ideal, the insecure are leaving the boat so that only the ones with strong will stay - therefore the stock price will be steadier over time.
Yes, this essentially is what I'm thinking. Playing the devil's advocate though I gotta say that FC may simply fail in achieving his targets, not because of being fraudulent, but rather incompetent (~ Hanlon's Razor). I don't think this is the case, but we can't rule it out. sngwinner, what I stated was merely an assumption, not a bold claim  You are completely right by staying careful! It should have read bolded not boldest. Sorry, autocorrect. Overall I still believe and trust in Friedcat but I do want an update on what's going on and trying to show that it isn't a bad idea for fried car to give some insight. |
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Yeah, it's unnerving! But not unheard of. FC kept silent before... I still believe in him. Gen 3 was a lot of bad luck, a declining BTC price, and a stronger competition. I think he will only announce gen 4, when it's ready and confirmed to work. As not to create a disappointment!
But there are plenty of other things to update besides progress on gen 4! What's our hashrate? Do we have franchisees hashing away? What do our financials look like? How many gen 3 chips do we have left that we won't be using to self mine? I guess FC considers those information 'secret'. Maybe he deems it important not to give those information away to the competition, for some reason. The most probable explanation, though would be that he simply does not care to tell us. He's still honest, and working for his shareholders, yet he doesn't see the need in answering our questions. The problem is, your boldest statement can't be verified. He hasn't paid a dividend and there is no accounting for the company's revenues or assets and liabilities. I'm not trying to spread FUD, but maybe other people will realize why FC should address shareholders instead of just trusting he's working for us. Everyone should also take everything I'm saying with a grain of salt because I own less than 0.01% of the outstanding shares in this company |
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Yeah, it's unnerving! But not unheard of. FC kept silent before... I still believe in him. Gen 3 was a lot of bad luck, a declining BTC price, and a stronger competition. I think he will only announce gen 4, when it's ready and confirmed to work. As not to create a disappointment!
But there are plenty of other things to update besides progress on gen 4! What's our hashrate? Do we have franchisees hashing away? What do our financials look like? How many gen 3 chips do we have left that we won't be using to self mine? |
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Im fed up with the lack of info too.
Yet im more and more convinced thats perfectly normal.
FC made a conf in august. Showed himself to the world and announced some sort of checkmate plan.. and then disapeared. Along with the boardmembers...
And this is where one should upload some submarine pics.
The lack of information may due to increased competition and preventing competitors from knowing about key events. In 'real world' companies, the CEO and board of directors give quarter reports, no updates on everything that is happening to the company on a daily basis. They also provide detailed financials and outline a business strategy and plan. It would be nice to know what the financial status of the company is. Also they were supposed to be aggressive with dividends. When you establish that and then don't pay any dividends it deserves some explaining. |
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Share price for AM is always so mysterious to me. With a good product available with Prismas, why is there so much dumping going on? Been steady decline last few days, looks like .1-.11 is the new normal. As for the lack of communication, a mere 5 mins a week more spent on twitter updates would translate into a big confidence boost. :  I think gen 4 will end up like gen 3 and arrive 8 months later than I expect but who knows, we just have guesses. The reason the share price is low is because there is no information on the company. No one knows if there will be dividends, if we are actually self mining with gen 3, if gen 4 tape out is imminent or several months out. We have no idea what our actual expenses are, what partners were working with, or what sort of revenue we have. A simple update from fried car and a financial statement could go a long way. The concern is why isn't he doing that? Is gen 4 around the corner and he wants to wait for release before announcing? Does he want to wait on announcing gen 4 to maximize prisms sales? Is he trying to bide time and embezzle as much coin as possible before announcing the failure of AM? No one knows!!! Until fried car announces something anything could be possible. Full disclosure I'm long AM and just fed up with the lack of communication. That's been my only comments in this thread lately and I don't expect Friedcat to change at all. I'm frustrated and hopeful but a growing part of me expects this company to fold up and run. |
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Ok, so devices are being delivered. How about an update?!?!
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I noticed my account balance in the poker lobby has an area for bonus(currently empty). Are there plans for a future deposit bonus or something similar?
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Can we please get an update from a board member or fried cat? Wasn't a PR person appointed? This silence by all parties is pretty annoying.
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A new month and still no update.
Board members I'm sure a lot of us would appreciate any new information you could provide. Even if it's as simple as Friedcat plans on making a statement sometime this month.
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Same issue with havelock for me. Something seems fishy with this and all of the order fills. This has me very worried about havelock.
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Almost too quiet...  |
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I disagree. He does owe the investors information about the status of the company since we own the company.
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. Look, this is bitcoin world but Friedcat has to choose whether he wants to operate in an above board and transparent manner or in a shady grey area. We are shareholders of Asicminer. As an officer and director of the company Friedcat has three duties to shareholders: the duty of care, the duty of loyalty, and the duty of disclosure. Regarding duty of care, Friedcat seems to be doing his best and working hard at the operations of the company and I don't think there have been any huge mis-steps. I truly appreciate that and commend him on his efforts. Regarding duty of loyalty, it seems like Friedcat has been loyal to the interests of the shareholders and hasn't been making decisions that benefit him or bit fountain rather than shareholders.(although that has been questioned with Rockminer and I don't think it's been disclosed if or how much he and other bit fountain members are being compensated outside of dividends). We don't know for sure that Friedcat has maintained his duty of loyalty because he has failed so miserably at his duty of disclosure. We haven't received a financial statement in quite some time. We don't know the current status of relationships with franchise partners. We don't know the size of our hashrate. We have a goal from a few months ago and no update on the progress. Why aren't these things being disclosed? It doesn't take too much time to jump on here and provide a little update and most of those things won't be of use to the competition. . I know other people have volunteered to act as a PR contact and someone has even been chosen but nothing has changed. Getting back to my original point, Friedcat seemed to have wanted to operate in a transparent shareholder friendly manner for a long time. At some point that changed. I feel like the company is at a turning point. Friedcat can choose that Asicminer be perceived as a legitimate entity that is loyal and responsible to its shareholders or a questionable entry that may not live up to its promises. I'm in this for the longhaul because I believe that Asicminer can act like a responsible company and operate profitably. I would just like for Friedcat to prove me right. |
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