Re: [LTC-GLOBAL] - ART - building a open art studio [week 32]

[usagi]

Usagi, if you have another wild theory about ART, please take it where it belongs (garbage can) and stop thread crapping.

BTW, usagi is not only investing blindly (he pissed away over 7000 btc of investors money in GLBSE)  but he ha no idea wtf "company value" means.  
Or more precisely, concepts "like currency" risk are completely alien to our beloved Japanese princess Oliver... oops.. usagi.

LOL

This is a great example of your inability to properly value a company. BMF was only worth about 2,500 BTC at it's peak around $10/BTC, ans we have already paid out on every security we could recover. ART on the other hand fell by 99.9% before staging a small recovery. Total loss was well over 2,500 BTC (more than the entirety of BMF). But it's not really your "fault" -- you need to relax and stop getting sand in your panties just because the price of LTC or BTC changes vs. USD.

Don't get mad. I'm just a messenger. On a pound for pound basis, considering the exchange rate swings, I did an order of magnitude better with BMF than you did with ART, and that is a fact.

[EskimoBob]

Usagi, if you have another wild theory about ART, please take it where it belongs (garbage can) and stop thread crapping.

BTW, usagi is not only investing blindly (he pissed away over 7000 btc of investors money in GLBSE)  but he ha no idea wtf "company value" means.  
Or more precisely, concepts "like currency" risk are completely alien to our beloved Japanese princess Oliver... oops.. usagi.

LOL

This is a great example of your inability to properly value a company. BMF was only worth about 2,500 BTC at it's peak around $10/BTC, ans we have already paid out on every security we could recover. ART on the other hand fell by 99.9% before staging a small recovery. Total loss was well over 2,500 BTC (more than the entirety of BMF). But it's not really your "fault" -- you need to relax and stop getting sand in your panties just because the price of LTC or BTC changes vs. USD.

Don't get mad. I'm just a messenger. On a pound for pound basis, considering the exchange rate swings, I did an order of magnitude better with BMF than you did with ART, and that is a fact.

Amazing! How do you calculate that?
BTW, ART never had 2500 BTC in any form. You really need to get your numbers straight, before you come up with another wild accusation.

[Newar]

What are the current numbers for kiln utilisation etc?

[EskimoBob]

What are the current numbers for kiln utilisation etc?

I'll post the numbers today or tomorrow. I have to reenter everything from day one because my attempts to fix the reporting have failed. I am seeing very large numbers (hundreds of thousands) that do not exist anywhere in the accounts/ledger and I have no idea where those numbers are coming from. I wasted a better part of a day reading about accounting and searching for errors in that damn thing. Looks like I have to waste more time on this.
I'll rather be fishing and enjoying outdoors... Damn those fkn computers.

[EskimoBob]

Here is the report for April 2013

We sold more firing service but still not what I like to see. Total sales, with wheel rental:

Code:

April sales where         €116,80

Expences:                   €0,00
Depriciation               €44,00

Net Income for the preiod: €72,80

Asstets held:
Assets
      Current Assets       € 0,00
            Petty Case   € 116,80
      Fixed Assets
            Kiln 01    € 2 282,00	   	   
            Wheel 01   € 1 184,00	   	   
      Investments 
            Brokerage Account	
      81,8444 BTCw     € 8 903,03
     121,42 LTCw         € 382,15

Total Assets          € 12 867,98

Equity   
Equity                     € 0,00	   
      Share Capital    € 4 303,70	   
Retained Losses          € 102,20
Unrealized Gains       € 8 666,48
Total Equity          € 12 867,98

Exchange rates for the report:

1 BTCw € 108,78
1 LTCw € 3,14733

[EskimoBob]

Answering few questions in LTC forum https://forum.litecoin.net/index.php/topic,980.msg22470.html#msg22470

[EskimoBob]

Here are the Mai 2013 numbers.
May started out well but from third week, it has been really quiet. Few customers fell behind their own schedules and never completed the planned work for May. As a result, we had nothing to fire. Wheel got some action but still not enough. Same applies to our kiln. When it ain't clicking, it ain't earning.

Code:

Mai 2013

Revenues 
 Income    
       firing                  82,29 
       Wheel rental            40,00    
Total Revenue                 122,29

Expenses   
 Expenses  
       Electricity             22,31
Total Expenses                 22,31
Net income for Period          99,98

and

Code:

Balance Sheet 31.05.2013

Assets
 Assets 
      Current Assets
            Petty Cash         216,78
      Fixed Assets          
            Kiln 01          2 254,00
            Wheel 01         1 168,00
      Investments     
            Brokerage Account
          81,84 BTCw         8 148,65
           121,42 LTCw         267,12
        
Total Assets                12 054,55

Liabilities               
 Total Liabilities               0,00       

Equity               
Equity       
      Share Capital          4 303,70     
Retained Losses                 46,22
Unrealized Gains             7 797,07

Total Equity                12 054,55

Total Liabilities & Equity  12 054,55

Exchange rates
1 BTCw	€ 99,568
1 LTCw	€ 2,20

Outstanding virtual shares: 99000
May closing 0.0205 LTC - 0,0451 €
12054,55/99000 = 0,12176313 / 2,2 = 0,055346877 ltc

[augustocroppo]

As a result, we had nothing to fire. Wheel got some action but still not enough. Same applies to our kiln. When it ain't clicking, it ain't earning.

In other words, you management is poor and that is why your "tokens" which was sold by 1 LTC now only worth 0.02049 LTC.

 

[EskimoBob]

As a result, we had nothing to fire. Wheel got some action but still not enough. Same applies to our kiln. When it ain't clicking, it ain't earning.

In other words, you management is poor and that is why your "tokens" which was sold by 1 LTC now only worth 0.02049 LTC.

 

LOL Go and try to evolve, you moron. Changing your name after becoming a epic joke on this forum, will not change anything. You are as dumb and as annoying as before

[EskimoBob]

You know what A+C, making fun at you will not help you nor others, who have to suffer your trolling.

So, let me help you instead.
I am giving you few hints or tasks. Use your favourite search engine and figure those out on your own. If I spoonfeed it to you, you will forget and learn nothing and you will be back trolling.

Here we go:
1) Do you know what a currency risk is?
2) Do you know what LTC/EUR/USD exchange rate was in Decemper 2012? Howe about January 2013 and February? What about first week of March 2013?
3) Do you know what the LTC exchange rate is today?
Hint: http://cryptocoincharts.info/

Now, if you recall hint #1, please put this all together and think. Remember, nobody has a crystal ball and hindsight does not count.
Let me give you a hint #4 - My business in NOT protecting YOU from currency risk. Sorry. I can not stay in LTC and BTC. This is not possible, because I had to buy equipment. Same as all the other businesses - we still need fiat.

When you invest your coin to fiat business, you practically sell your coin at what ever the going rate was and that is it. "If I only had held on to my coin... blaa blaa blaa" is nonsense and will get you nowhere.

It is different story, if you give your coin to someone, who tells you they are all BTC/LTC business. As you can see, even sdice can not keep up with BTC:FIAT price and they are probably the only real "BTC only" business around.

BTW, I actually converted some fiat back to LTC and some was left in BTC. This is why we have a 7K unrealized gain.

We raised about 4K EUR and now we have about 12K in assets.

[augustocroppo]

LOL Go and try to evolve, you moron. Changing your name after becoming a epic joke on this forum, will not change anything. You are as dumb and as annoying as before

I did not changed my name, I changed my USERNAME. You pretend to be smart by cannot even understand the difference between name and username. I still sign as Augusto Croppo in my messages in case you do not know. There is no secret about it.

Yeah, I am dumb, I am the manager which issued worthless "tokens" to buy electric ovens which no one seems interested to use, right?

 

You cannot even set up a proper spreadsheet to control your finances. You are the epic joke here, not me.

[EskimoBob]

LOL Go and try to evolve, you moron. Changing your name after becoming a epic joke on this forum, will not change anything. You are as dumb and as annoying as before

I did not changed my name, I changed my USERNAME. You pretend to be smart by cannot even understand the difference between name and username. I still sign as Augusto Croppo in my messages in case you do not know. There is no secret about it.

Yeah, I am dumb, I am the manager which issued worthless "tokens" to buy electric ovens which no one seems interested to use, right?

 

You cannot even set up a proper spreadsheet to control your finances. You are the epic joke here, not me.

LOL. You are a comedian, but not a good one.
What do I need a shitty spread sheet for?  I use double entry accounting software to keep track of what is going on and print out my reports you obviously can not read nor understand

Those spreadsheets, people love to use around here, are sad jokes and I hope this bs stops soon.

[augustocroppo]

I use double entry accounting software to keep track of what is going on and print out my reports you obviously can not read nor understand

There you go, ladies and gentleman, the "token" issuer is so good using his accounting software that he evaluated a single oven for 119317.84 USD....

What do I need a shitty spread sheet for?

Perhaps you need it to solve complex or extensive calculations which you are not able to perform with your ultra-mega-hyper-sophisticated-triple-check-all-in-one accounting software?

[EskimoBob]

I use double entry accounting software to keep track of what is going on and print out my reports you obviously can not read nor understand

There you go, ladies and gentleman, the "token" issuer is so good using his accounting software that he evaluated a single oven for 119317.84 USD....

What do I need a shitty spread sheet for?

Perhaps you need it to solve complex or extensive calculations which you are not able to perform with your ultra-mega-hyper-sophisticated-triple-check-all-in-one accounting software?

crickets...

PS! Dude, you are way outside of your competence level.  I'll preserve that fine example of your utter stupidity for the future generation. 

Cheers!

[augustocroppo]

crickets...

PS! Dude, you are way outside of your competence level.  I'll preserve that fine example of your utter stupidity for the future generation. 

Cheers!

Did you realize in this topic there is not one single forum user praising or congratulating your management? You sound like a delusional person screaming that no one is listening to me without also noticing that no one is  listening to you... ("Crickets"?) The only thing you are preserving is evidence which speaks about the capacity you lack to deal with people's investments. If there is something the future generations will learn from my fine example is to not let people like you play with their wealth.

[MPOE-PR]

crickets...

PS! Dude, you are way outside of your competence level.  I'll preserve that fine example of your utter stupidity for the future generation. 

Cheers!

Did you realize in this topic there is not one single forum user praising or congratulating your management? You sound like a delusional person screaming that no one is listening to me without also noticing that no one is  listening to you... ("Crickets"?) The only thing you are preserving is evidence which speaks about the capacity you lack to deal with people's investments. If there is something the future generations will learn from my fine example is to not let people like you play with their wealth.

I have been enjoying the thread from a comedic perspective tbh. Take for instance the expense account which does not figure any amortization charges. Pure gold.

[EskimoBob]

LOL, I can only imagine how dipshit Mircea Popescu and his "pr" muppet* (Bull-Shit, not PR) labored over those few line to find something to whine about. Comedy indeed!

Good job dipshits 

BTW, assets have been depreciated by correct amount in balance sheet. Interesting indeed.


----
* - Is it possible that this PR scank of yours is actually your alter ego? It is not that uncommon for pathological narcissist, like you, to have also split personality disorder.

[augustocroppo]

I have been enjoying the thread from a comedic perspective tbh. Take for instance the expense account which does not figure any amortization charges. Pure gold.

That was an interesting suggestion. Well, I learned something from your comment. It seems Eskimobob thinks his oven are going to last forever. He is not assuming that his assets depreciates after some time.

LOL, I can only imagine how dipshit Mircea Popescu and his "pr" muppet* (Bull-Shit, not PR) labored over those few line to find something to whine about. Comedy indeed!

Good job dipshits 

BTW, assets have been depreciated by correct amount in balance sheet. Interesting indeed.


----
* - Is it possible that this PR scank of yours is actually your alter ego? It is not that uncommon for pathological narcissist, like you, to have also split personality disorder.

Perhaps you are wasting too much time with your double entry software... Are you becoming stressed with the fact that your bonds are worthless whatever the bond holders wants LTC or USD? Take a break, it is time to fish and enjoy the outdoors at the expenses of the investors:

I'll post the numbers today or tomorrow. I have to reenter everything from day one because my attempts to fix the reporting have failed. I am seeing very large numbers (hundreds of thousands) that do not exist anywhere in the accounts/ledger and I have no idea where those numbers are coming from. I wasted a better part of a day reading about accounting and searching for errors in that damn thing. Looks like I have to waste more time on this.
I'll rather be fishing and enjoying outdoors... Damn those fkn computers.

[EskimoBob]

I have been enjoying the thread from a comedic perspective tbh. Take for instance the expense account which does not figure any amortization charges. Pure gold.

That was an interesting suggestion. Well, I learned something from your comment. It seems Eskimobob thinks his oven are going to last forever. He is not assuming that his assets depreciates after some time.

LOL, I can only imagine how dipshit Mircea Popescu and his "pr" muppet* (Bull-Shit, not PR) labored over those few line to find something to whine about. Comedy indeed!

Good job dipshits 

BTW, assets have been depreciated by correct amount in balance sheet. Interesting indeed.


----
* - Is it possible that this PR scank of yours is actually your alter ego? It is not that uncommon for pathological narcissist, like you, to have also split personality disorder.

Perhaps you are wasting too much time with your double entry software... Are you becoming stressed with the fact that your bonds are worthless whatever the bond holders wants LTC or USD? Take a break, it is time to fish and enjoy the outdoors at the expenses of the investors:

I'll post the numbers today or tomorrow. I have to reenter everything from day one because my attempts to fix the reporting have failed. I am seeing very large numbers (hundreds of thousands) that do not exist anywhere in the accounts/ledger and I have no idea where those numbers are coming from. I wasted a better part of a day reading about accounting and searching for errors in that damn thing. Looks like I have to waste more time on this.
I'll rather be fishing and enjoying outdoors... Damn those fkn computers.

and the comedy continues...

LOL! What bonds are you talking about? James?

[augustocroppo]

and the comedy continues...

LOL! What bonds are you talking about? James?

Oh sorry... It is not bonds... It is "tokens". I am sorry for my mistake. For a moment I forgot you not even deal with legit financial instruments.