What to expect from Bitcoin Magazine

[Vladimir]

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 [added: some of the] 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.

The words highlighted above as bold are false statement of facts, defamatory and misleading. And I do not mean minor technicalities like 100BTC or 1000$ I mean either very significant misrepresentation or just outright lies. Also lots of relevant facts are conveniently omitted my Mihai such as for example days and days spent on discussing the relevant matters and a variety of alternative solutions all of which have effectively failed leaving me with no choice but to quit the company abruptly.

[Vladimir]

Hey Vlad,

Haven't you already been paid.  In fact didn't you give yourself a big bonus already (without a vote)?

http://codinginmysleep.com/the-bittalk-media-meltdown/

No I did not. The bonus claim is false and misrepresents facts of the matter.

[LightRider]

Clearly the corporatocracy is at it again, stealing people's bitcoin related articles and clip art, embezzling large amounts of ink, all the while leaving the public magazineless.

#OccupyBitcoinMagazine

[cypherdoc]

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

wow, i've always supported Vladimir since day 1 but those invoices don't paint a pretty picture.  virtually all those billed activities in a startup involving purely motivated principals with a like-mind mentality would be voluntary.  i know i'd be pissed if i received bills like that.  that's why my attorney and i have a love/hate relationship; he bills me for almost every move he makes but in the end he usually gets the job done.

[BitPay Business Solutions]

I have copies of the Lloyds bank statements and PayPal history of Bittalk Media, which Vladimir willingly shared with me.   I honestly have not had time to sort through them beyond just the most recent transactions.  

However I can confirm that on the day of 12 November, Vladimir paid himself 4552.80 GBP.  Here is a screenshot of the transaction history given to me by Vladimir.



This was the exact day he resigned ( https://bitcointalk.org/index.php?topic=123857.msg1330827#msg1330827 ) and while he was still in control of the bank account.  To my knowledge, he is still in control of the bank account today, despite having resigned all duties as a Director and employee.

I looked at the invoices that are posted on http://codinginmysleep.com/the-bittalk-media-meltdown/ and I have similar copies in my files, which I received from Vladimir directly, so I can verify their authenticity.

[cypherdoc]

I have copies of the Lloyds bank statements and PayPal history of Bittalk Media, which Vladimir willingly shared with me.   I honestly have not had time to sort through them beyond just the most recent transactions. 

However I can confirm that on the day of 12 November, Vladimir paid himself 4552.80 GBP.  Here is a screenshot of the transaction history given to me by Vladimir.



This was the exact day he resigned ( https://bitcointalk.org/index.php?topic=123857.msg1330827#msg1330827 ) and while he was still in control of the bank account.  To my knowledge, he is still in control of the bank account today, despite having resigned all duties as a Director and employee.

I looked at the invoices that are posted on http://codinginmysleep.com/the-bittalk-media-meltdown/ and I have similar copies in my files, which I received from Vladimir directly, so I can verify their authenticity.

i was meaning to ask; what's gives with the 12/11/12 date?

[BitPay Business Solutions]

i was meaning to ask; what's gives with the 12/11/12 date?

12 November 2012

[cypherdoc]

i was meaning to ask; what's gives with the 12/11/12 date?

12 November 2012

lol.  duh.

[Vladimir]

The above bank statement is incomplete and misrepresents the facts of the matter. Tony Gallippi was informed about that.

[repentance]

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

Are you forgetting that users on this board were calling for Matthew to be stripped of his shares in BM following the whole bet debacle?  Regardless of what people think of Vladmir's actions, let's not pretend that people didn't want Matthew punished by pretty much any means, even if by extension it compromised the interests of other BM shareholders.  What happened at BM did not happen in a vacuum and a lot of the behind the scenes machinations weren't exactly secret even while they were occurring, but people were pissed at Matthew while they were happening and didn't care much about the bigger picture.

[cypherdoc]

the above bank statement is incomplete and misrepresents the facts of the matter.

for god sakes man, your integrity is on the line here.  you need to be more specific than that.

[Bitcoin Oz]

Usually the CEO doesnt control the company bank accounts which are run by the treasurer. He has to submit invoices to the secretary.

Putting the ceo in charge of both the bank accounts and invoices is usually a recipe for embezzelment.

[Mihai Alisie]

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

(...)
 
(...) and for over $3000 in software for “digital publications” of Bitcoin Magazine that never produced any digital publications.

(...)

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.
(...)

The words highlighted above as bold are false statement of facts, defamatory and misleading. And I do not mean minor technicalities like 100BTC or 1000$ I mean either very significant misrepresentation or just outright lies. (...)

In order to refresh Mr. Vladimir’s memory also regarding the over $3,000 payments for the digital edition software expenses I am attaching the following bank statements:

https://i.imgur.com/A49dJ.jpg
http://www.xe.com/ucc/convert/?Amount=1921.79&From=GBP&To=USD
https://i.imgur.com/FgG91.jpg
 http://www.xe.com/ucc/convert/?Amount=529&From=GBP&To=USD

Regarding the denial of the fact that he blocked the $65,000 investment in the company I will let the other shareholders speak.
 
Unfortunately I cannot show the expenses that he has failed to explain because there are no accounting logs (surprise).

[Bitcoin Oz]

In order to refresh Mr. Vladimir’s memory also regarding the over $3,000 payments for the digital edition software expenses I am attaching the following bank statements:


http://www.xe.com/ucc/convert/?Amount=1921.79&From=GBP&To=USD

 http://www.xe.com/ucc/convert/?Amount=529&From=GBP&To=USD

Regarding the denial of the fact that he blocked the $65,000 investment in the company I will let the other shareholders speak.
 
Unfortunately I cannot show the expenses that he has failed to explain because there are no accounting logs (surprise).

Why wasnt there a company secretary ? If the company is a legal entity who were the company officers responsible for accounting and invoices ?

[Mihai Alisie]

In order to refresh Mr. Vladimir’s memory also regarding the over $3,000 payments for the digital edition software expenses I am attaching the following bank statements:

https://i.imgur.com/A49dJ.jpg
http://www.xe.com/ucc/convert/?Amount=1921.79&From=GBP&To=USD
https://i.imgur.com/FgG91.jpg
 http://www.xe.com/ucc/convert/?Amount=529&From=GBP&To=USD

Regarding the denial of the fact that he blocked the $65,000 investment in the company I will let the other shareholders speak.
 
Unfortunately I cannot show the expenses that he has failed to explain because there are no accounting logs (surprise).

Why wasnt there a company secretary ? If the company is a legal entity who were the company officers responsible for accounting and invoices ?

Vladimir and his wife.

[Bitcoin Oz]

In order to refresh Mr. Vladimir’s memory also regarding the over $3,000 payments for the digital edition software expenses I am attaching the following bank statements:


http://www.xe.com/ucc/convert/?Amount=1921.79&From=GBP&To=USD

 http://www.xe.com/ucc/convert/?Amount=529&From=GBP&To=USD

Regarding the denial of the fact that he blocked the $65,000 investment in the company I will let the other shareholders speak.
 
Unfortunately I cannot show the expenses that he has failed to explain because there are no accounting logs (surprise).

Why wasnt there a company secretary ? If the company is a legal entity who were the company officers responsible for accounting and invoices ?

Vladimir and his wife.

Well there  is your problem. Who elected them to the position ?

[BurtW]

The above bank statement is incomplete and misrepresents the facts of the matter. Tony Gallippi was informed about that.

Hey Vlad, are you going to try and charge for your time posting to this thead

[cypherdoc]

The above bank statement is incomplete and misrepresents the facts of the matter. Tony Gallippi was informed about that.

Hey Vlad, are you going to try and charge for your time posting to this thead

hey, i have an expense account labelled "Defending My Integrity"!  

[Kluge]

Vladimir, I have prepared an itemized invoice with regards to services rendered to you. You can view the invoice here. The dates are not ordered, but (for a fee) can be corrected by me. Prompt fulfillment of your obligations would be appreciated. I am willing to accept BTC payment at GoxLast. Should you choose to pay with BTC, I can receive payment at 179bVt2N36ozpk1vutFfBeVfj75uN4vGF8 -- please sign a message using the address you sent payment from to confirm you were indeed the sender.

And again -- Thank you!

[Mihai Alisie]

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

The words highlighted above as bold are false statement of facts, defamatory and misleading. And I do not mean minor technicalities like 100BTC or 1000$ I mean either very significant misrepresentation or just outright lies. (...)

Also, since it seems that Mr. Vladimir has some problems with his memory regarding his wife shares and position in the company I am attaching the following:

https://i.imgur.com/pAZyp.jpg
https://i.imgur.com/v13bp.jpg
https://i.imgur.com/gnlLx.jpg]https://i.imgur.com/gnlLx.jpg