What to expect from Bitcoin Magazine

[LightRider]

It is my understanding, based on what little information I have, that the transfer of ownership of Bitcoin Magazine has been done improperly and highly likely fraudulently (if the article about new ownership published on bitcoinmagazine.net is true). It might be potentially classed as fraudulent because no proper shareholder vote was done and they have attempted to conceal this matter from at least some shareholders. It is my understanding that Mihai Alisie as sole director of the company acting dishonestly and in conspiracy with a number of third parties has potentially fraudulently transferred assets from other shareholders (the company) to himself and his co-conspirators without shareholder vote being properly done.

I own a significant amount of shares in Bittalk Media Ltd and I am not aware about any shareholder votes related to any significant property transactions nor have I received any consideration for any property of the company or for my shares. The third parties involved in this transaction ought to have known that they are very likely dishonestly assisted in director's breach of fiduciary duty and therefore very likely will be liable themselves.  Not to mention that annual employment contracts received by some look too much like bribes.

It also appears that Mihai Alisie has transferred ownership of domain bitcoinmagazine.com to himself (see whois) while the domain was bought by him acting in capacity of director of the company, following instructions of myself (Managing Director of the company at the time) and using company money that were specifically transferred to him for purpose of purchasing the domain. He also claimed in private conversations that that domain somehow belongs to him and that he himself somehow owns a lot of "intellectual property" which rightfully should have been owned by the company.

I will pursue this matter legally in due course.

I can't wait to read about this in the next issue.

[1714283642]

1714283642

[Mihai Alisie]

It is my understanding, based on what little information I have, that the transfer of ownership of Bitcoin Magazine has been done improperly and highly likely fraudulently (if the article about new ownership published on bitcoinmagazine.net is true). It might be potentially classed as fraudulent because no proper shareholder vote was done and they have attempted to conceal this matter from at least some shareholders. It is my understanding that Mihai Alisie as sole director of the company acting dishonestly and in conspiracy with a number of third parties has potentially fraudulently transferred assets from other shareholders (the company) to himself and his co-conspirators without shareholder vote being properly done.

I own a significant amount of shares in Bittalk Media Ltd and I am not aware about any shareholder votes related to any significant property transactions nor have I received any consideration for any property of the company or for my shares. The third parties involved in this transaction ought to have known that they are very likely dishonestly assisted in director's breach of fiduciary duty and therefore very likely will be liable themselves.  Not to mention that annual employment contracts received by some look too much like bribes.

It also appears that Mihai Alisie has transferred ownership of domain bitcoinmagazine.com to himself (see whois) while the domain was bought by him acting in capacity of director of the company, following instructions of myself (Managing Director of the company at the time) and using company money that were specifically transferred to him for purpose of purchasing the domain. He also claimed in private conversations that that domain somehow belongs to him and that he himself somehow owns a lot of "intellectual property" which rightfully should have been owned by the company.

I will pursue this matter legally in due course.

Mr. Vladimir fails to explain what caused this transfer of ownership.

Mr. Vladimir decided of his own free will to resign from the Director position in Bittalk Media, and resign from all duties at Bittalk Media.  After this decision, he awarded himself, without any consent from the Board of Directors or consulting anyone, an exit bonus that has brought BitTalk Media on the brink of collapse. The money was critical for the magazine’s printing, shipping and distribution. His actions pushed me towards looking for ways to save the magazine, since obviously this was not in his agenda. Vladimir himself brought Tony in to mediate this dispute and after trying on numerous occasions to come to an agreement it was clear that other options should be taken in consideration.

Mr. Vladimir failed to turn over access to the company’s bank accounts, PayPal accounts, and other assets under his control.  He also started to charge BitTalk Media at a rate of 80 GBP per hour for the time required to respond to messages and emails that asked for clarifications and actions regarding these company assets.  Even more, he was paying himself for the time that was required to pay himself. All these actions lead towards considering him as a rogue/hostile shareholder.  As the sole remaining Director in Bittalk Media I had a meeting with the shareholders, where we discussed our options.

The sale of assets was handled by a licensed UK attorney specialized in Commercial Law, Contracts and Company Law and all the papers were signed by shareholders representing approximately 75% of the voting interest in Bittalk Media.

I think that Mr. Vladimir should stop posing as a victim and he should take full credit for reducing the value of BitTalk Media with his greed and ethically questionable actions. Regarding the fiduciary duty that he keeps bringing about, I would like to remind him that while he was a Director he repeatedly threatened the shareholders to block an investment that would have brought over $65,000 in new capital and probably would have saved the company.

More than this, and probably the reason for deciding to resign from the Director position, he has failed to explain more than $20,000 in expenses for items such as $8,000 in IT fees for 8 months for hosting a wordpress blog on a server which he owns, and for paying 300 GBP per month (full rent) in rent for office space which is also utilized by other businesses owned by Vladimir, and for over $3000 in software for “digital publications” of Bitcoin Magazine that never produced any digital publications.

I would also like to point out that since the beginning of the company, he has included his wife as a Director and has awarded her equity for taking care of the accounting. To this day, I am still patiently waiting, to receive the income statements, balance sheets and the statement of cash flows of this company.  During the course of due diligence, the new owners discovered that in fact these accounting documents did not exist.

If Mr. Vladimir wants to perpetuate this drama on the forums, I can publicly disclose the invoices sent by him to BitTalk Media as well as the shareholder signed documents.

Vitalik, Matthew, Adam and the rest of the shareholders support this action and signed the documents to solidify their support of the asset sale.  All shareholders will receive a dividend payout from the sale, which will be handled by an attorney.

[Vladimir]

It is my understanding, based on what little information I have, that the transfer of ownership of Bitcoin Magazine has been done improperly and highly likely fraudulently (if the article about new ownership published on bitcoinmagazine.net is true). It might be potentially classed as fraudulent because no proper shareholder vote was done and they have attempted to conceal this matter from at least some shareholders. It is my understanding that Mihai Alisie as sole director of the company acting dishonestly and in conspiracy with a number of third parties has potentially fraudulently transferred assets from other shareholders (the company) to himself and his co-conspirators without shareholder vote being properly done.

I own a significant amount of shares in Bittalk Media Ltd and I am not aware about any shareholder votes related to any significant property transactions nor have I received any consideration for any property of the company or for my shares. The third parties involved in this transaction ought to have known that they are very likely dishonestly assisted in director's breach of fiduciary duty and therefore very likely will be liable themselves.  Not to mention that annual employment contracts received by some look too much like bribes.

It also appears that Mihai Alisie has transferred ownership of domain bitcoinmagazine.com to himself (see whois) while the domain was bought by him acting in capacity of director of the company, following instructions of myself (Managing Director of the company at the time) and using company money that were specifically transferred to him for purpose of purchasing the domain. He also claimed in private conversations that that domain somehow belongs to him and that he himself somehow owns a lot of "intellectual property" which rightfully should have been owned by the company.

I will pursue this matter legally in due course.

Mr. Vladimir fails to explain what caused this transfer of ownership.

Mr. Vladimir decided of his own free will to resign from the Director position in Bittalk Media, and resign from all duties at Bittalk Media.  After this decision, he awarded himself, without any consent from the Board of Directors or consulting anyone, an exit bonus that has brought BitTalk Media on the brink of collapse. The money was critical for the magazine’s printing, shipping and distribution. His actions pushed me towards looking for ways to save the magazine, since obviously this was not in his agenda. Vladimir himself brought Tony in to mediate this dispute and after trying on numerous occasions to come to an agreement it was clear that other options should be taken in consideration.

Mr. Vladimir failed to turn over access to the company’s bank accounts, PayPal accounts, and other assets under his control.  He also started to charge BitTalk Media at a rate of 80 GBP per hour for the time required to respond to messages and emails that asked for clarifications and actions regarding these company assets.  Even more, he was paying himself for the time that was required to pay himself. All these actions lead towards considering him as a rogue/hostile shareholder.  As the sole remaining Director in Bittalk Media I had a meeting with the shareholders, where we discussed our options.

The sale of assets was handled by a licensed UK attorney specialized in Commercial Law, Contracts and Company Law and all the papers were signed by shareholders representing approximately 75% of the voting interest in Bittalk Media.

I think that Mr. Vladimir should stop posing as a victim and he should take full credit for reducing the value of BitTalk Media with his greed and ethically questionable actions. Regarding the fiduciary duty that he keeps bringing about, I would like to remind him that while he was a Director he repeatedly threatened the shareholders to block an investment that would have brought over $65,000 in new capital and probably would have saved the company.

More than this, and probably the reason for deciding to resign from the Director position, he has failed to explain more than $20,000 in expenses for items such as $8,000 in IT fees for 8 months for hosting a wordpress blog on a server which he owns, and for paying 300 GBP per month (full rent) in rent for office space which is also utilized by other businesses owned by Vladimir, and for over $3000 in software for “digital publications” of Bitcoin Magazine that never produced any digital publications.

I would also like to point out that since the beginning of the company, he has included his wife as a Director and has awarded her equity for taking care of the accounting. To this day, I am still patiently waiting, to receive the income statements, balance sheets and the statement of cash flows of this company.  During the course of due diligence, the new owners discovered that in fact these accounting documents did not exist.

If Mr. Vladimir wants to perpetuate this drama on the forums, I can publicly disclose the invoices sent by him to BitTalk Media as well as the shareholder signed documents.

Vitalik, Matthew, Adam and the rest of the shareholders support this action and signed the documents to solidify their support of the asset sale.  All shareholders will receive a dividend payout from the sale, which will be handled by an attorney.

Quoted for pending legal action. I have received multiply reports of Mihail Alisie distributing false statements about myself in attempt to vilify me in eyes of a number of my friends and business partners. Many false statements of facts were made similar to the above.

[bittenbob]

Mr. Vladimir fails to explain what caused this transfer of ownership.

Mr. Vladimir decided of his own free will to resign from the Director position in Bittalk Media, and resign from all duties at Bittalk Media.  After this decision, he awarded himself, without any consent from the Board of Directors or consulting anyone, an exit bonus that has brought BitTalk Media on the brink of collapse. The money was critical for the magazine’s printing, shipping and distribution. His actions pushed me towards looking for ways to save the magazine, since obviously this was not in his agenda. Vladimir himself brought Tony in to mediate this dispute and after trying on numerous occasions to come to an agreement it was clear that other options should be taken in consideration.

Mr. Vladimir failed to turn over access to the company’s bank accounts, PayPal accounts, and other assets under his control.  He also started to charge BitTalk Media at a rate of 80 GBP per hour for the time required to respond to messages and emails that asked for clarifications and actions regarding these company assets.  Even more, he was paying himself for the time that was required to pay himself. All these actions lead towards considering him as a rogue/hostile shareholder.  As the sole remaining Director in Bittalk Media I had a meeting with the shareholders, where we discussed our options.

The sale of assets was handled by a licensed UK attorney specialized in Commercial Law, Contracts and Company Law and all the papers were signed by shareholders representing approximately 75% of the voting interest in Bittalk Media.

I think that Mr. Vladimir should stop posing as a victim and he should take full credit for reducing the value of BitTalk Media with his greed and ethically questionable actions. Regarding the fiduciary duty that he keeps bringing about, I would like to remind him that while he was a Director he repeatedly threatened the shareholders to block an investment that would have brought over $65,000 in new capital and probably would have saved the company.

More than this, and probably the reason for deciding to resign from the Director position, he has failed to explain more than $20,000 in expenses for items such as $8,000 in IT fees for 8 months for hosting a wordpress blog on a server which he owns, and for paying 300 GBP per month (full rent) in rent for office space which is also utilized by other businesses owned by Vladimir, and for over $3000 in software for “digital publications” of Bitcoin Magazine that never produced any digital publications.

I would also like to point out that since the beginning of the company, he has included his wife as a Director and has awarded her equity for taking care of the accounting. To this day, I am still patiently waiting, to receive the income statements, balance sheets and the statement of cash flows of this company.  During the course of due diligence, the new owners discovered that in fact these accounting documents did not exist.

If Mr. Vladimir wants to perpetuate this drama on the forums, I can publicly disclose the invoices sent by him to BitTalk Media as well as the shareholder signed documents.

Vitalik, Matthew, Adam and the rest of the shareholders support this action and signed the documents to solidify their support of the asset sale.  All shareholders will receive a dividend payout from the sale, which will be handled by an attorney.

This is the first I am learning about him paying himself 80GBP/hr to do only part of my job. Part of the reason for my resignation was due to Vladimir paying himself $1000/month director salary while refusing to pay anyone else who has been working on the project for the last year. I would like to point out that I never received a salary or any other payment for my 1 year of services. What I did get was a disproportionally small share percentage that was kept so low on Vladimir's advice. This share value will result in a final payout significantly lower than Vladimir's "exit bonus" and far less than he would have received in month salary. I think this goes without saying that this is what ultimately led to my resignation.

https://bitcointalk.org/index.php?topic=115305.0

Shame on you Vladimir for destroying all of our hard work. As Mihai pointed out there was a deal that would have seen 65k of capital injection that would have kept the magazine running under its previous ownership for another year without any additional revenue. For reasons unknown to this day, Vladimir refused to let the deal go through and it also resulted in a precipitous drop in share value. If there is any legal action to be had it is against you Vladimir.

[hazek]

I find this quite amusing actually, it's like watching a bad theater show where the stage of the theater is the failed organizational structure that is a legal fiction - the personhood of a corporation.


When will actors in this market learn to abandon what only the state could have perpetuated and start doing business in their own name under their own personhood with full liability? How many more of these kind of farcical tragic and destructive breakups between business partners which in the end always end up hurting the consumers the most will it take?

[SgtSpike]

Mihai has the capabilities to continue pushing the magazine forward, fortunately, despite whatever may lie in the past.  Here's to many more successful publications!

[Vladimir]

This is the first I am learning about him paying himself 80GBP/hr to do only part of my job. Part of the reason for my resignation was due to Vladimir paying himself $1000/month director salary while refusing to pay anyone else who has been working on the project for the last year.

The above statement contains multiply false statements of facts. Which is likely result of defamation campaign perpetrated against myself.

[Vladimir]

I do find it ironic that Vladimir's signature states:

Note to self: Never argue with an idiot, bystanders cannot tell the difference.

Indeed. And I am not arguing. I am simply stating that Mihai Alisie has published defamation.

[bittenbob]

This is the first I am learning about him paying himself 80GBP/hr to do only part of my job. Part of the reason for my resignation was due to Vladimir paying himself $1000/month director salary while refusing to pay anyone else who has been working on the project for the last year. I would like to point out that I never received a salary or any other payment for my 1 year of services. What I did get was a disproportionally small share percentage that was kept so low on Vladimir's advice. This share value will result in a final payout significantly lower than Vladimir's "exit bonus" and far less than he would have received in month salary. I think this goes without saying that this is what ultimately led to my resignation.

https://bitcointalk.org/index.php?topic=115305.0

Shame on you Vladimir for destroying all of our hard work. As Mihai pointed out there was a deal that would have seen 65k of capital injection that would have kept the magazine running under its previous ownership for another year without any additional revenue. For reasons unknown to this day, Vladimir refused to let the deal go through and it also resulted in a precipitous drop in share value. If there is any legal action to be had it is against you Vladimir.

I will add one correction to my post for accuracies sake. Vladimir and Mihai both paid themselves 100BTC cash advance before i left. It was registered as $1000 in our accounting system. So one of the other directors did receive a payment but none of the other shareholders did. This was part of my irreconcilable differences.

[Vladimir]

This is the first I am learning about him paying himself 80GBP/hr to do only part of my job. Part of the reason for my resignation was due to Vladimir paying himself $1000/month director salary while refusing to pay anyone else who has been working on the project for the last year. I would like to point out that I never received a salary or any other payment for my 1 year of services. What I did get was a disproportionally small share percentage that was kept so low on Vladimir's advice. This share value will result in a final payout significantly lower than Vladimir's "exit bonus" and far less than he would have received in month salary. I think this goes without saying that this is what ultimately led to my resignation.

https://bitcointalk.org/index.php?topic=115305.0

Shame on you Vladimir for destroying all of our hard work. As Mihai pointed out there was a deal that would have seen 65k of capital injection that would have kept the magazine running under its previous ownership for another year without any additional revenue. For reasons unknown to this day, Vladimir refused to let the deal go through and it also resulted in a precipitous drop in share value. If there is any legal action to be had it is against you Vladimir.

I will add one correction to my post for accuracies sake. Vladimir and Mihai both paid themselves 100BTC cash advance before i left. It was registered as $1000 in our accounting system. So one of the other directors did receive a payment but none of the other shareholders did. This was part of my irreconcilable differences.

you see, when I say their statements are false they are indeed false.

[Mihai Alisie]

This is the first I am learning about him paying himself 80GBP/hr to do only part of my job. Part of the reason for my resignation was due to Vladimir paying himself $1000/month director salary while refusing to pay anyone else who has been working on the project for the last year. I would like to point out that I never received a salary or any other payment for my 1 year of services. What I did get was a disproportionally small share percentage that was kept so low on Vladimir's advice. This share value will result in a final payout significantly lower than Vladimir's "exit bonus" and far less than he would have received in month salary. I think this goes without saying that this is what ultimately led to my resignation.

https://bitcointalk.org/index.php?topic=115305.0

Shame on you Vladimir for destroying all of our hard work. As Mihai pointed out there was a deal that would have seen 65k of capital injection that would have kept the magazine running under its previous ownership for another year without any additional revenue. For reasons unknown to this day, Vladimir refused to let the deal go through and it also resulted in a precipitous drop in share value. If there is any legal action to be had it is against you Vladimir.

I will add one correction to my post for accuracies sake. Vladimir and Mihai both paid themselves 100BTC cash advance before i left. It was registered as $1000 in our accounting system. So one of the other directors did receive a payment but none of the other shareholders did. This was part of my irreconcilable differences.

you see, when I say their statements are false they are indeed false.

http://www.youtube.com/watch?v=exdK7Lirngg / http://www.youtube.com/watch?v=v5vzCmURh7o

[kangasbros]

When will actors in this market learn to abandon what only the state could have perpetuated and start doing business in their own name under their own personhood with full liability? How many more of these kind of farcical tragic and destructive breakups between business partners which in the end always end up hurting the consumers the most will it take?

Not all businesses can be one-man-shows. Many times for successful startup, you need more than one people as a founder/shareholder.

I myself hope that it is possible to set up legal, honest, successful businesses that work in the bitcoin economy.

[Realpra]

I will add one correction to my post for accuracies sake. Vladimir and Mihai both paid themselves 100BTC cash advance before i left. It was registered as $1000 in our accounting system. So one of the other directors did receive a payment but none of the other shareholders did. This was part of my irreconcilable differences.

you see, when I say their statements are false they are indeed false.

lol "I paid myself 100 btc NOT 1000$ while paying others nothing.. SEE they WERE lying and I am the victim!"

Pathetic Vladimir. I know nothing about this case, but you have made yourself look very stupid and guilty.

[Dansker]

This is why real business people have lawyers and accountants.

[adamstgBit]

for all of you who didn't fallow the story from the beginning  -> http://codinginmysleep.com/the-bittalk-media-meltdown/

[Akka]

Don't know who is right here, but I have to say I'm really disappointed in how this goes.... and not the least bit surprised.

Why can't you handle something like this, without someone trying to scam another one? Please just once.

[boonies4u]

Well, this is going to be entertaining.

[ElectricMucus]

Look on the bright side it's probably easy to own all issues of the magazine.

 

for all of you who didn't fallow the story from the beginning  -> http://codinginmysleep.com/the-bittalk-media-meltdown/

thanks
Normally I find it in my duty to follow every and all drama on board but I would have actually missed out on that one.

[QuantumQrack]

So, am I still going to receive the magazine with all this dumbassery going on?

Quantum

[boonies4u]

So, am I still going to receive the magazine with all this dumbassery going on?

Quantum

I already sent an email to their new Customer Support email regarding issue #4. I hope things streamline after this power grab and drama settles.