[BitFunder] Bitcoin Pride - Bitcoin Shirts

[Namworld]

There hasn't been weekly dividends if you check the dividend tab.

[Logik]

If the owner is 'too busy' he should 'unannounce' weekly dividends.

[InstantBTC]

Any updates?

[jjdub7]

Share price isn't doing particularly well, FlipPro.  What's the deal, brother?  Any updated financial statements for April?

[ratacat]

FlipPro, whats happening mate?  Keep us posted here.  Even a quick 'We are busy, and its coming' would go a long way...

[MPOE-PR]

Sorry to be pissing on your pie/pride/parade, but what I take away from that list is not that you average 70% margins but that your income is freefalling. Less than half in two months?! Ouch.

I guess it went to zero in the interim.

[Necrocide666]

Also would like to see an update soon please? As previously stated anything will do just let us know what's going on...

[FlipPro]

Latest Dividend Payment will 15 BTC P&L coming soon.

[FlipPro]

Hello BTC Talk,

I am pleased to announce that we are now caught up with 75% of our orders and we would like to thank all of you for your continued patience and cooperation. One of the issues that we have been experiencing @ BitPride has been excessive book-keeping due to our weekly dividend schedule, thus effectively consuming most of the businesses time and money. This is unsustainable because the orders are coming in from many different places (online and locally), and because of this we require real humans to organize prints, interact with clients, and fulfill all of these orders in a timely and professional manner. This forces resources to constantly be placed in one area of the company leaving every other area briefly unattended. For this reason we have decided effective immediately to halt weekly dividend payments, and begin to send them out on monthly basis like originally planned in the virtual offering. This will allow us to prioritize all of our t-shirt & Bitcoin orders (important for our continued longevity), and give us the opportunity to put the focus back on our customers. This does not mean smaller payouts, and if anything it may actually help us by putting the focus back on the things that matter the most so that we can begin to grow our profits on a more consistent basis. What this absolutely means for us is reduced accounting costs, and increased productivity in customer service and the product development departments of our company. We appreciate all of your questions and concerns and will be ready to answer any questions you may have.

Thank You

[Necrocide666]

Awesome! I am glad that it is going so well, thanks for the update

[FlipPro]

Share price isn't doing particularly well, FlipPro.  What's the deal, brother?  Any updated financial statements for April?

Financial statements are all out. There is 1 report pending for the last dividend payout.

Hope that helps. https://docs.google.com/file/d/0B8jhaL_imOkwS0Zkai1TdW1NQVU/edit?usp=sharing

[wisard]

One of the issues that we have been experiencing @ BitPride has been excessive book-keeping due to our weekly dividend schedule, thus effectively consuming most of the businesses time and money.

Thank you but I guess I'll have to be the dick here and ask some hard questions.

BitPride has never had weekly dividends. No 2 dividends have ever been paid in 8 days time frame.

Also, the P&L statement we get to see is 1 table with no details. And there is no P&L statement for the last dividend payment since... there are no numbers since 14 April. If it took you time to get it done, why not share it with us too?

It shouldn't take you more than 10 minutes a day to figure out the cashflow situation of that day.
i. How many orders have come in - the total amount earned.
ii. How many orders have been fulfilled.
iii. How much new inventory has to be bought. What was the cost of that inventory.

Why this much takes you so long a time is something hard to understand.

I would appreciate instead of making this an excuse that you let us know the real hardships faced. Maybe some of us can be of help.

You're having problems fulfilling orders, ask people about it. If you've never done P&L and cashflow management before - ask someone over here and they can guide you.

I like that you listen and take action. But asking the right questions and knowing when you need help is equally important.

[FlipPro]

One of the issues that we have been experiencing @ BitPride has been excessive book-keeping due to our weekly dividend schedule, thus effectively consuming most of the businesses time and money.

Thank you but I guess I'll have to be the dick here and ask some hard questions.

BitPride has never had weekly dividends. No 2 dividends have ever been paid in 8 days time frame.

Also, the P&L statement we get to see is 1 table with no details. And there is no P&L statement for the last dividend payment since... there are no numbers since 14 April. If it took you time to get it done, why not share it with us too?

It shouldn't take you more than 10 minutes a day to figure out the cashflow situation of that day.
i. How many orders have come in - the total amount earned.
ii. How many orders have been fulfilled.
iii. How much new inventory has to be bought. What was the cost of that inventory.

Why this much takes you so long a time is something hard to understand.

I would appreciate instead of making this an excuse that you let us know the real hardships faced. Maybe some of us can be of help.

You're having problems fulfilling orders, ask people about it. If you've never done P&L and cashflow management before - ask someone over here and they can guide you.

I like that you listen and take action. But asking the right questions and knowing when you need help is equally important.

Wisard, it's important to note that even though we have been a bit late (due to volume), we are current on ALL of our dividend payouts.

If you look at the P&L statements and the corresponding dates you will see that last weeks payments were combined.

We will have the numbers out from 4/14-4/26 soon.

I have been in the process (as I said a few posts before) of setting up new fulfillment partnerships with local printers so that we can streamline the process and cut time & money. We intend to automize 90% of the business, and when we do we may approach weekly dividends once again.

Thank you again for your continued patience.

[wisard]

Sure.

I'm not concerned about dividends being monthly or not.

I was concerned that accounting is taking the bulk of your time. And that we are having fulfillment issues with buying and selling of bitcoins. (I see that we still have a form for it - which I'm sure reduces the number of orders.)

Please be aware that my post was meant to be in a helpful nature. My main point was: you shouldn't hesitate in telling us about the problems we are facing - because some of us may be able to help solve these problems.

And you shouldn't wait to post only when you have happy news to share.

[MPOE-PR]

One of the issues that we have been experiencing @ BitPride has been excessive book-keeping due to our weekly dividend schedule, thus effectively consuming most of the businesses time and money. This is unsustainable because the orders are coming in from many different places (online and locally), and because of this we require real humans to organize prints, interact with clients, and fulfill all of these orders in a timely and professional manner. This forces resources to constantly be placed in one area of the company leaving every other area briefly unattended. For this reason we have decided effective immediately to halt weekly dividend payments, and begin to send them out on monthly basis like originally planned in the virtual offering.

Duh. Monthly dividends is the standard for a reason.

Why this much takes you so long a time is something hard to understand.

It's indeed very easy to understand: finance is a profession.

[wisard]

It's indeed very easy to understand: finance is a profession.

Have you ever run an ecommerce store?

[jjdub7]

Sure.

I'm not concerned about dividends being monthly or not.

I was concerned that accounting is taking the bulk of your time. And that we are having fulfillment issues with buying and selling of bitcoins. (I see that we still have a form for it - which I'm sure reduces the number of orders.)

Please be aware that my post was meant to be in a helpful nature. My main point was: you shouldn't hesitate in telling us about the problems we are facing - because some of us may be able to help solve these problems.

And you shouldn't wait to post only when you have happy news to share.

FlipPro, I'm a shareholder (albiet my holdings are very, very small).  I've got my degree in economics and finance and I'd be willing to go over and audit your books like DeaDTerra does for usagi.  Contact me either here or Twitter if you're interested.

[molecular]

flippro, you should change the thread title, it still says "Announcing Weekly Dividends".

[molecular]

FlipPro, I'm a shareholder (albiet my holdings are very, very small).  I've got my degree in economics and finance and I'd be willing to go over and audit your books like DeaDTerra does for usagi.  Contact me either here or Twitter if you're interested.

As a shareholder I would welcome this offer being taken.

[jjdub7]

I can provide an official pdf copy of my university transcripts too.