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Author Topic: [HAVELOCK] DIRECT FUND Mining Contract Offer Starts Monday August 10th!  (Read 3760 times)
twentyseventy
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August 11, 2015, 01:43:37 PM
 #41

So, after seeing 23 BTC market cap become 17 BTC market cap (and not having any clue how this could happen during an IPO), clicked on  "order book" & got even more confused.

Anyone make heads or tails of this?  (multiple bid prices, multiple ask prices, last buy @ ,00150003 not 0.00208192)

Sorry for the confusion; the issue stems from having scheduled the start and end date of the Initial Offering at the same time (erroneously). After an initial offering is closed, the remaining units (all of them, in this case), are released to the open market.

The Ask Wall of 987,837 shares (currently) is the 'Offering'; I'm currently speaking to Havelock to try and close trading and reissue the Public Offering for simplicity's sake. In any case, the shares purchased from the Ask Wall are the legitimate shares for the Offering.

Thanks to all of our purchasers of the 12,163 units so far!
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twentyseventy
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August 11, 2015, 06:54:08 PM
 #42

So, after seeing 23 BTC market cap become 17 BTC market cap (and not having any clue how this could happen during an IPO), clicked on  "order book" & got even more confused.

Anyone make heads or tails of this?  (multiple bid prices, multiple ask prices, last buy @ ,00150003 not 0.00208192)

Sorry for the confusion; the issue stems from having scheduled the start and end date of the Initial Offering at the same time

In other words the start date and end date are one and the same, the IPO is over, and live trading has begun.  No biggie, an honest mistake.
Any guesses as to the actual end date?

Technically, yes, that's correct - Offering End Date will still be 8/24/15 at 1PM EDT. Going to see if we can return to IPO Offering status, as I'd prefer that the market not be open to limit confusion-
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August 12, 2015, 12:12:48 AM
 #43

Seems people have finally learned their lesson with these type of offerings. It only took a few years and millions lost to learn it!

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twentyseventy
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August 12, 2015, 04:11:51 PM
 #44

How lengthy a process might changing the IPO status from "closed" to "in progress" be, would you guess?  Might encourage sales, though I'm neither a marketing nor a computer expert, just spitballing here.

Thanks, I'm working on that with Havelock now-
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August 12, 2015, 06:37:07 PM
 #45

Seems people have finally learned their lesson with these type of offerings. It only took a few years and millions lost to learn it!

yeah very glad to see people are finally learning why investing in these are horrid. What's even funny is how Havelock has hosted one of these before. It's almost like they don't even care about their traders or users...
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August 12, 2015, 06:57:07 PM
 #46

Offering End Date will still be 8/24/15 at 1PM EDT.

I still feel a bit out of my depth here, but pushing the end date back by a couple of weeks may not boost buyer confidence as much as one might expect.
Also, incrementally raising the price was done to ...Huh



Price is tied to USD:

Offering Price: $0.55 per Unit, in BTC - Pricing will be adjusted as needed during Offering Period due to USD/BTC fluctuation

As for the date change - I'd guess it's selling much slower than expected. No chance of selling it out at the current pace even with the extended deadline.


twentyseventy
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August 13, 2015, 03:00:57 PM
 #47

Hi guys; if the extra time does not look like it will make a difference in achieving the goal of selling out the total number of shares, we will go ahead and stop the offering as planned on 8/24-

Thanks-
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August 13, 2015, 03:52:16 PM
 #48

Hi guys; if the extra time does not look like it will make a difference in achieving the goal of selling out the total number of shares, we will go ahead and stop the offering as planned on 8/24-

Thanks-

Is it being promoted anywhere outside Bitcointalk?

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August 14, 2015, 09:01:21 AM
 #49

Yeah, nice. The problem is some people have still not forgotten Amhash. That one was sold via Havelock, right?

For security, your account has been locked. Email acctcomp15@theymos.e4ward.com
twentyseventy
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August 14, 2015, 12:40:36 PM
 #50

Is it being promoted anywhere outside Bitcointalk?

It was not the plan to promote outside this forum, as everyone here can be assumed to have a better understanding of the offering than those elsewhere, but we are going to investigate doing so.
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August 25, 2015, 04:58:50 PM
 #51

So what's the status? I can see it's now trading on Havelock but the IPO is still going on too? And the price doesn't seem to have been adjusted to match the exchange rate.

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August 25, 2015, 05:22:46 PM
 #52

Initial Offering

The initial offering will be available for fourteen days. All units of the initial 1,000,000 block must be purchased in order for the contract to be initialized. If the initial offering is unsuccessful (the full 1,000,000 units are not sold out), funds paid for these units will be returned to the purchasers and the contracts will be null and void.

The more I read this the more confusing it gets. If the offering was unsuccessful - which it was as today is the 25th - and everyone got refunded, who's trading those shares on Havelock and why is trading enabled at all? I have a feeling that the terms got ninja-edited at some point so please at least post the newest version somewhere.

What a shitshow, no wonder the "Top-Tier Mining Organization" didn't want their name mentioned in this.

twentyseventy
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August 26, 2015, 03:25:26 AM
 #53

Hi everyone, apologies for the delay. I've been taking care of some personal issues this past week. I'm going to go ahead and instruct Havelock to close the offering and begin the refund process. Thanks to everyone that participated.
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August 27, 2015, 12:21:54 AM
 #54

Havelock has confirmed the buyback request and will be doing so based on the IPO Purchase price.
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