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[||bit]

I guess that's what you get investing in US companies these days. Sad development.

What is the other US company you have in mind?

[murmur]

What is the other US company you have in mind?

I will tell you "in two weeks" 

[bittymitty]

The only solution lab rat could come up with involved bond holders taking a hair cut.

Now the bonds are worthless the only thing left to do is drag this out and hope we forget.

Nice work lab Rat

I'm not sure I get it yet. What hair cut?

Didn't they get converted to a fixed hashrate? Does this not make them almost worthless?

Isn't this a well laid out scam?

[||bit]

For what its worth, I get the impression LR is fully intending to "do right" by investors/customers - he is in a hard position and simply (in my mind) chose the wrong solution.

Compared to other companies LR has done very very well for us and after a brief personal exchange with him my genuine feeling is that it is his intention to continue doing so.

What is the hard position he's in? There appears to be more than one solution to keep things rolling as they effectively have been. Any of these solutions can be implemented. "Hard position" resolved.

What reason would he have to not implement them? He's already bound to his agreement posted on this forum. Nobody was ever sent a different contract to sign and return. And even if anyone did, that would only apply to that one person. As long as people are paid what has been expected from the start per what has been communicated by Zach, then there shouldn't be any issue...should there be?

However, if Labrat were, for example, to say he is capping original investments at 300MH, and not implementing a solution to sustain and grow that return...then... it's almost a certainty that he will get sued. There is enough money in this forum to afford a team of lawyers, and there are people in his area that will help do & serve the paperwork. Small investment to recover a lot. But if he's smart, he won't let it go that far.

[||bit]

What is the other US company you have in mind?

I will tell you "in two weeks" 

BFL?

[||bit]

The only solution lab rat could come up with involved bond holders taking a hair cut.

Now the bonds are worthless the only thing left to do is drag this out and hope we forget.

Nice work lab Rat

I'm not sure I get it yet. What hair cut?

Didn't they get converted to a fixed hashrate? Does this not make them almost worthless?

Isn't this a well laid out scam?

From the way I'm reading this. He will issue three bonds/contracts for each one bond/contract to keep the original investment on par with the hash-rate. If hardware is added, then he should issue more bonds/contracts to those with bonds/contracts. Clumsy but it works.

If he doesn't figure that out, then he will probably get sued. Give him a chance to clear this up before deciding on getting the ball rolling with that though.

[murmur]

What is the other US company you have in mind?

I will tell you "in two weeks" 

BFL?

So far I have been BFLed, Goxxed and it looks as if I am about to be labratted. Compared to the experience with kncminer - well.. sorry can't even start comparing.

[||bit]

What is the other US company you have in mind?

I will tell you "in two weeks"  

BFL?

So far I have been BFLed, Goxxed and it looks as if I am about to be labratted. Compared to the experience with kncminer - well.. sorry can't even start comparing.

MtGox isn't a US company. It's located in Japan, the CEO (Mark Karpeles) is French and it's owned by Tibanne Ltd. (which was founded by Karpeles).

[murmur]

What is the other US company you have in mind?

I will tell you "in two weeks"  

BFL?

So far I have been BFLed, Goxxed and it looks as if I am about to be labratted. Compared to the experience with kncminer - well.. sorry can't even start comparing.

MtGox isn't a US company. It's located in Japan, the CEO (Mark Karpeles) is French and it's owned by Tibanne Ltd. was founded by Karpeles.

Yeah - I am aware of that crook being European. I guess we are in a painful maturity phase. A lot of 1st gen players will eventually go down.

[Ashitank]

What is the other US company you have in mind?

I will tell you "in two weeks"  

BFL?

So far I have been BFLed, Goxxed and it looks as if I am about to be labratted. Compared to the experience with kncminer - well.. sorry can't even start comparing.

MtGox isn't a US company. It's located in Japan, the CEO (Mark Karpeles) is French and it's owned by Tibanne Ltd. was founded by Karpeles.

Yeah - I am aware of that crook being European. I guess we are in a painful maturity phase. A lot of 1st gen players will eventually go down.

Please don't take this off topic.

[||bit]

For the record:

https://i.imgur.com/W9LVUjq.jpg

[Flashman]

However, if Labrat were, for example, to say he is capping original investments at 300MH, and not implementing a solution to sustain and grow that return...then... it's almost a certainty that he will get sued. There is enough money in this forum to afford a team of lawyers, and there are people in his area that will help do & serve the paperwork. Small investment to recover a lot. But if he's smart, he won't let it go that far.

That's exactly what he seems to be saying so far.

[a2offrb]

NOW I HAVE SEVERAL QUESTION BECAUSE IT START TO PISS ME OFF!!!

1) LabRat. Are u sufficiently educated to be owner of this kind of company? Last time u fucked was with dividends, when u taked the fee for paying divs, even if there was free and easy solution. You just come, drop this shit, and then we say to u how u must to do in this situation. Really? U have ur fucking lawyers, u say that u know what u doing and we must say to u how things work?

U come and drop the bomb again. U have known about this situation for 2 months. And what u got? Nothing! This community members gives u better information than u "lawyer". U cannot say "i will use whole my time to solve this situation". Because as i see, there is currently no situation, there is no problem now and 10 hours @ forum is more productive than 2 months with ur lawyer.
U had enough time already. First answer to all community questions. Use 2 days for answering all question and messages, i think it will be enough to answer ALL POSSIBLE QUESTIONS.

During very long time i have asked about HW. Didnt get any answers. ||bit have also asked many times. So LabRat ANSWER!!!

Had many of questions, but they almost all can be solved with doing just one little thing:
LabRat. Can u give us financial statement report with amounts of money(coins/usd) got from IPO, hardware ordered with order dates and amounts, where and how much our money have been invested and everything else.
Also for hardware orders i want to see receipts, i doenst mean some BFL LS u buyed from forum members, i mean big order.

+ One big question. I said that u must solve this shit out by next saturday because:
Currently hashrate is 23-24 th. Lets assume its less possible, 23TH. (Really!! What a annoying shit, we doenst even know how much hardware is currently hashing!!!)
There is 58792 bonds out. If every of bond will represent 300 MH on next saturday then payout will be from 0.3*58792=17637,6 GH.
So we will miss 5-6 TH of hashpower. Lets take 5,5 and calculate how much it is from whole hashpower..... and.... its ... 31.18%.
Its even more than 25% management fee, future hardware invest and other things.
Again: What the muck, LabRat?

++ What is payout bitcoin address for LRM from Ghash.io?

[Komodorpudel]

For the record:

https://i.imgur.com/W9LVUjq.jpg

Good, by now we should have enough stuff together to cleary proof, that the fixing of the hashrate would be fraud. (Even the history of this thread is more than enough together with the fact that entrys at the LabRat Website were changes)

LabRat; please offer a solution acceptable for all investors

[countduckula]

The reason he's doing 300mh per bond, and everyone is asking why is simple:

23 TH in hand, 75% of that is 17.25, per 58k bonds, 300, that way he takes out directly the 25% he was usually taking.

[VinceSamios]

For what its worth, I get the impression LR is fully intending to "do right" by investors/customers - he is in a hard position and simply (in my mind) chose the wrong solution.

Compared to other companies LR has done very very well for us and after a brief personal exchange with him my genuine feeling is that it is his intention to continue doing so.

So he does respond to emails, just not the ones requesting his lawyers details. OK, got it. Thanks.

Probably because you're being a premature prat.

[VinceSamios]

Everyone sit the fuck down and stop flipping your lids.

There is a solution - Lab rat will come to it.

Being reactionary at this point serves no purpose.

[Endlessa]

Again I would like to apologize for this seeming like I'm randomly dropping this out of thin air.  I have had morality yanking on one arm and legality yanking on the other for the last 2-3 months.  This is not a new development, it is just becoming a finalized one though.

Does Grnbrg know?

Yes, now he knows. I think they will not be anymore best friends
And if he knew...well the word "rat" comes into my mind.

He knew ~ a week ago and didn't sell his bonds behind the scenes.  He understands because he knows me well enough to know I wouldn't do this unless I had to.

If you structure this company properly with non-voting shares there is no issue, that I'm aware of, with continuing the promised payout structure and you maintain control of the business decisions.  please stop pretending your only choice is to screw us out of future growth or address in a reasoned manner why this is not the case.  If this has been going on for 2-3 months, then why did you continue to pump and dump more shares on people without full disclosure?  i.e. give false hope with growth announcements and issue more shares knowing this was coming.  you have yet to convince anybody this is less than bullshit by providing rational reason for changing the payout structure or citing any specific legal reason for a change in terms.  If you knew this change was coming for 2-3 months (since december) and continued to sell bonds and represent the company under the terms you knew were unenforceable and inaccurate, I find this highly fraudulent imo.  There's no form of LLC that protects you in this situation.  I also find it suspicious that this occurs right after forming partnerships and increasing your own hashrate by 10x what it is now.  I suggest reconciling this properly. There is no part of our agreement that allows you to magically change the terms of ownership.

[Endlessa]

The reason he's doing 300mh per bond, and everyone is asking why is simple:

23 TH in hand, 75% of that is 17.25, per 58k bonds, 300, that way he takes out directly the 25% he was usually taking.

His fees are not suppose to be 25% that was suppose to be a temporary change for everyone to chip in for larger hardware orders.  His fees were suppose to be 5% for facilities and 5% for his labor.

[countduckula]

He's paying us 75% of the produced (or was.. weeks without even a small detail on what was paid)