-

[runam0k]

No positive change in divs so... no new hardware?

[mmmerlin]

No positive change in divs so... no new hardware?

Sadly that logic no longer follows... 

Hopefully it will again though...

[1247364403]

LRM complies perfectly fine with the IRS. I figured it'd have to be reported this way. There is one thing I didn't expect but it doesn't effect the company as it just doesn't pertain.

I've had 2 long phone calls with my lawyer and things seem to be coming together. Please understand I'm waiting on this too. I don't like being a human punching bag on the forums. If the results of this are not agreeable. Please feel free to sue. Just stop arguing and threatening over conspiracy theories.

P.S.  Be nice to grnbrg. He's always been nice to you guys and he's helped LRM in a couple times of need.

Labrat,You are what a first most vile fraud in bitcoin world! I will expose and publish your infamy in bitcoin or real world in all kinds of ways.
The reason that now nobody sue labrat is not that we give up to sue you, is that many shareholders are not americans or be afraid to be cheated the legal cost.However I assure that you will be justly punished！
I hope someone can expose labrat's real ID info to prevent others from been cheated and robbed in future!
LRM company is dead! I believe nobody will continue to trust and invest it！

P.S grnbrg, you also shouldn't stand with labrat, as labrat cheat to rob the shareholders' bitcoins and don't give any bitcoins to you, labrat don't help you when you are also suspected by us.

[Ashitank]

LRM complies perfectly fine with the IRS. I figured it'd have to be reported this way. There is one thing I didn't expect but it doesn't effect the company as it just doesn't pertain.

I've had 2 long phone calls with my lawyer and things seem to be coming together. Please understand I'm waiting on this too. I don't like being a human punching bag on the forums. If the results of this are not agreeable. Please feel free to sue. Just stop arguing and threatening over conspiracy theories.

P.S.  Be nice to grnbrg. He's always been nice to you guys and he's helped LRM in a couple times of need.

Labrat,You are what a first most vile fraud in bitcoin world! I will expose and publish your infamy in bitcoin or real world in all kinds of ways.
The reason that now nobody sue labrat is not that we give up to sue you, is that many shareholders are not americans or be afraid to be cheated the legal cost.However I assure that you will be justly punished！
I hope someone can expose labrat's real ID info to prevent others from been cheated and robbed in future!
LRM company is dead! I believe nobody will continue to trust and invest it！

P.S grnbrg, you also shouldn't stand with labrat, as labrat cheat to rob the shareholders' bitcoins and don't give any bitcoins to you, labrat don't help you when you are also suspected by us.

Kamikaze Sundays

[BKM]

Time for a reality check.  Most of the questions have been answered by labrat already.  

Thanks for compiling that contactmike.

You are welcome.  I should note that I selected the responses that were relevant to many of the questions.  There are a number of responses I did not post.

Really, thank you. I nominate you for the communications committee with grnbrg....

[rangerbob21]

Time for a reality check.  Most of the questions have been answered by labrat already.  

The issues at hand are both on a state and federal level regarding multiple topics.  The specifics of these statutes will be presented in a timely manner.

There are multiple issues, local and federal.  The main issue is specifically pertaining to variable payout though.  I'm not a lawyer so I'm waiting for my legal rep to put it all in legal terminology before laying it out there.

I was out today, but tomorrow is a full day I will be speaking with my lawyer, as well as the other legal advisers who had input on this matter.  None of which see anything LRM to be working with to be an SEC or FinCEN issue if the transition is made, which is why I made this choice.  How to handle the specifics of the payout moving forward is being worked on.

CEX.io is on a different boat than LRM, although they are definitely breaching MSB issues within the US whether they operate in or out of the country.

EDIT: also going to be flying out to meet with a well respected business lawyer rather soon who has also handled Bitcoin.

There are issues with a percentage being considered shares and a contract being considered a sale.  I will attempt to clarify more over the course of next week when I have more legal documentation to explain.

Also, I've done the math and liquidating the company's assets will turn out worse for the contract-holders as well as myself (rather than paying out "dividends").
Hardware just doesn't sell for what it did in may 2013......

I'm working on doing so and all I have done is provide an immediate fix that does fit into the original contract promises, with the intent to find a way to benefit early contract purchasers as more hardware comes in.

I am taking advice of many folks and stopping answering any questions.  I'll poke my head in at least once a day or two to say "Still here" and that is all.  The next time you receive anything of substance it will be a full report on the subject which will take time to produce.  There are 94 pages of NJ Laws that pertain to this matter, let alone the federal laws.  Contained in this report will be all legal matter as well as a pheonixed contract.  If you don't like it, sue LRM.  But I must warn you, that you will lose, and cost yourself money twice because the money used to fight the legal battles will be that of the company's.  This is the last thing any of us want, but it seems to be a trend in Bitcoin lately to sue over everything.

I'm looking out for my interests, as well as those of the company and all those involved.  To those of you who have known me going on 2 years now, you know I'm not some evil thief.  I'm doing what's necessary and I believe that the end result will be something everyone can live with.

I will make an attempt to clarify #4 in one quick sentence but the rest you can read a little more for.  Everyone who has contracts at this point in time is an "early purchaser" of contracts.  The company is still young and people should not be looking at this like it's all going to end in 3-4 months.  I can't count how many times I've stated Bitcoin is not a sprint it's a marathon.  For over 2 years people said that graphics cards were not profitable and in 4-6 months people will stop mining so much, but every time someone said that the price went up and they remained profitable.  Change =/= Death.

I can't provide reassurance without giving information that I can't give until things are in place. All I can say is that I'm working on the permanent solution and believe I have found a reasonable and legal way to provide over 300MH.

OK.  Just out of a meeting with my lawyer and things look very very good in respect to how they have looked.  I can't give time frames as things in the real world operate 9-5 m-f (NOT INCLUDING LUNCH HOURS) and my lawyer stated this loud and clear to me.  When I asked for an estimate on time he said it will come when it's done and it's a priority.


What he specified I can share is that there will be an announcement that will provide some clarification followed by a contract to be presented.  More info will come when it is available and no sooner.  It is the intention of LRM to provide further than 300MH/s per contract and is apparent that the way this will be done is legal.

All your questions about current and future hardware including the March hardware will be answered upon completion of the new contract.  If labrat speculates early, before the contract, then people will scream bloody murder as soon as the contract changes a single word.  Labrat is smart for not giving "what ifs" and "could be's".  It only leads to trouble.

[Edit:]  Updated CEX quote per grnbrg's suggestion.

So... just like everyone is complaining about... No information is listed and this is simply a condensed version of the no information from LR. Nice to have the nothingness in one place. Thanks! (really, thanks for the summation)

[fractal02]

It's pretty quiet here...

LabRat, still no news you can share with us ?

[a2offrb]

Any1 can contact Dave and ask about delivery?

[elitenoob]

Any1 can contact Dave and ask about delivery?

Do you really think that he will tell anyone anything?

[LostDutchman]

Any1 can contact Dave and ask about delivery?

"Who is it?

It's me, Dave, open up, man, I got the stuff!

Who is it?

It's me, Dave, man, open up, I got the stuff!

Who?

It's, Dave, man, open up, I think the cops saw me comin' here!

Who is it?

It's, it's Dave, man, will you open up? I got the stuff with me!

Who?

Dave, man, open up!

Dave?

Ya, Dave, c'mon, man, open up, I think the cops saw me!

Dave's not here.

No, man, I'm Dave, man!

Hey, c'mon, man!

Who is it?

It's Dave, man, will you open up? I got the stuff with me!

Who?

Dave, man, open up!

Dave?

Ya, Dave!

Dave's not here!

No, man, I am Dave, man, will you?

C'mon, open up the door, will you?

I got the stuff with me, I think the cops saw me!

Who is it?

Oh, what the hell is it c'mon open up the door, it's Dave!

Who?

Dave, D A V E, will you open up the goddamn door!

Dave?

Ya, Dave!

Dave?

Right, man, Dave, now will you open up the door?

Dave's not here!

Oh!

Songwriters
MARIN, RICHARD / CHO

 Cheech And Chong - Dave Lyrics | MetroLyrics"

[bobfranklin]

Any1 can contact Dave and ask about delivery?

Do you really think that he will tell anyone anything?

Yeah I sure as crap wouldn't give out details on a customers order to a random caller.

[bittymitty]

Any1 can contact Dave and ask about delivery?

Do you really think that he will tell anyone anything?

Yeah I sure as crap wouldn't give out details on a customers order to a random caller.

What does it matter if it has been delivered?

We have no claim over the new hardware as per the new contract details.

As I said before we will never get any more info or new contract.

Lab Rat just needs to wind this charade down and pocket the profit.

[bittymitty]

Oh and leave Grnbrg alone guys its disgusting how he is being vilified on this forum.

[LostDutchman]

Oh and leave Grnbrg alone guys its disgusting how he is being vilified on this forum.

Agreed!

grnbrg was shamelessy used by BFL through no fault of his own.

grnbrg supported Lab_Rat as did I in the beginning.

Leave grnbrg alone please.

By the way, is this the "Dave" we're talking about?:

http://davetheknife.com/

My $.02.

[a2offrb]

Any1 can contact Dave and ask about delivery?

Do you really think that he will tell anyone anything?

Yeah I sure as crap wouldn't give out details on a customers order to a random caller.

What does it matter if it has been delivered?

We have no claim over the new hardware as per the new contract details.

As I said before we will never get any more info or new contract.

Lab Rat just needs to wind this charade down and pocket the profit.

New contract is not my business. I have different contract i have agreed with, the old one.

Dave can tell us about hardware because its have been paid by our money? Are you such a pussy?
You have invested money for hardware. LR is a idiot. He has some "problem" for 4 months that his "lawyer", that seem also be idiot because nothing happening. LR gives no transparency.
Why we cant contact Dave and ask him? As you all says, we have CONTRACT. We have sent money, LRM dont do own part of contract, so we can ask for return of contract price. If LR have delivered hardware that he uses to make money to own pocket, then its STEALING and FRAUD and in this case if we go to court, responsibility is on LR, not LRM LLC. Also dont think that Dave want to be connected to this FRAUD charges and will give needed information out.

We have no transparency. We doesnt know what is mystic problem. We doesnt know about HW. And everything you say is:

What does it matter if it has been delivered?

Any1 can contact Dave and ask about delivery?

Do you really think that he will tell anyone anything?

Ok. Well. Lets sit on our asses and watch how difficulty rises, return drops(maybe we will get 20% of original investment? Wow!!!),
LRM is telling bullshit about non exist problems (until he says what is problem, its non exist), bullshit about his lawyer that is sick, flu, down syndrom, bicycle accident, broke a nail.

If my English would be better enought, i would already posted and called every place, but now i must use translators. All you that live in USA, you know laws, you know language and everything you do is.... nothing.
Such a pussy. Just because of that this kind of stealing is possible.

[bobfranklin]

Any1 can contact Dave and ask about delivery?

Do you really think that he will tell anyone anything?

Yeah I sure as crap wouldn't give out details on a customers order to a random caller.

What does it matter if it has been delivered?

We have no claim over the new hardware as per the new contract details.

As I said before we will never get any more info or new contract.

Lab Rat just needs to wind this charade down and pocket the profit.

New contract is not my business. I have different contract i have agreed with, the old one.

Dave can tell us about hardware because its have been paid by our money? Are you such a pussy?
You have invested money for hardware. LR is a idiot. He has some "problem" for 4 months that his "lawyer", that seem also be idiot because nothing happening. LR gives no transparency.
Why we cant contact Dave and ask him? As you all says, we have CONTRACT. We have sent money, LRM dont do own part of contract, so we can ask for return of contract price. If LR have delivered hardware that he uses to make money to own pocket, then its STEALING and FRAUD and in this case if we go to court, responsibility is on LR, not LRM LLC. Also dont think that Dave want to be connected to this FRAUD charges and will give needed information out.

We have no transparency. We doesnt know what is mystic problem. We doesnt know about HW. And everything you say is:

What does it matter if it has been delivered?

Any1 can contact Dave and ask about delivery?

Do you really think that he will tell anyone anything?

Ok. Well. Lets sit on our asses and watch how difficulty rises, return drops(maybe we will get 20% of original investment? Wow!!!),
LRM is telling bullshit about non exist problems (until he says what is problem, its non exist), bullshit about his lawyer that is sick, flu, down syndrom, bicycle accident, broke a nail.

If my English would be better enought, i would already posted and called every place, but now i must use translators. All you that live in USA, you know laws, you know language and everything you do is.... nothing.
Such a pussy. Just because of that this kind of stealing is possible.

Umm Dave shouldn't tell anyone the details of a sale with another individual/company even if you're a backer, the sale is not with you at all. Also not an american and issue is with LR not passing on the information people want relating to LRM which is who you have a 'contract with' not LR.

[Komodorpudel]

Looks like LabRat tries to sit this mess out...

[tempestb]

What is anyone actually waiting for exactly?  Seems like we should have had both the info from the lawyer by now, and LRM should have the hardware by now.  So what is to wait for?  Seems like if you're going to do the lawyer throw-down, now is the time.

[ICantThinkOfaName]

What is anyone actually waiting for exactly?  Seems like we should have had both the info from the lawyer by now, and LRM should have the hardware by now.  So what is to wait for?  Seems like if you're going to do the lawyer throw-down, now is the time.

Googled "Lawyer Throwdown".  Was not disappointed.

[rangerbob21]

What is anyone actually waiting for exactly?  Seems like we should have had both the info from the lawyer by now, and LRM should have the hardware by now.  So what is to wait for?  Seems like if you're going to do the lawyer throw-down, now is the time.

Could be what LR is waiting on? Just pure speculation...