Bitcoin Forum
October 22, 2017, 05:09:10 AM *
News: Latest stable version of Bitcoin Core: 0.15.0.1  [Torrent]. (New!)
 
   Home   Help Search Donate Login Register  
Pages: « 1 ... 473 474 475 476 477 478 479 480 481 482 483 484 485 486 487 488 489 490 491 492 493 494 495 496 497 498 499 500 501 502 503 504 505 506 507 508 509 510 511 512 513 514 515 516 517 518 519 520 521 522 [523] 524 525 526 527 528 529 530 531 532 533 534 535 536 537 538 539 540 541 542 543 544 545 546 547 548 549 550 551 552 553 554 555 556 557 558 559 560 561 562 563 564 565 566 567 568 569 570 571 572 573 ... 586 »
  Print  
Author Topic: HashFast announces specs for new ASIC: 400GH/s  (Read 865302 times)
cedivad
Legendary
*
Offline Offline

Activity: 1134



View Profile
August 16, 2014, 02:24:02 PM
 #10441

https://www.kncminer.com/products/knc-28nm-sha256-processor

$27/chip, below production costs.

My anger against what is wrong in the Bitcoin community is productive:
Bitcointa.lk - Replace "Bitcointalk.org" with "Bitcointa.lk" in this url to see how this page looks like on a proper forum (Announcement Thread)
Hashfast.org - Wiki for screwed customers
1508648950
Hero Member
*
Offline Offline

Posts: 1508648950

View Profile Personal Message (Offline)

Ignore
1508648950
Reply with quote  #2

1508648950
Report to moderator
1508648950
Hero Member
*
Offline Offline

Posts: 1508648950

View Profile Personal Message (Offline)

Ignore
1508648950
Reply with quote  #2

1508648950
Report to moderator
1508648950
Hero Member
*
Offline Offline

Posts: 1508648950

View Profile Personal Message (Offline)

Ignore
1508648950
Reply with quote  #2

1508648950
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1508648950
Hero Member
*
Offline Offline

Posts: 1508648950

View Profile Personal Message (Offline)

Ignore
1508648950
Reply with quote  #2

1508648950
Report to moderator
1508648950
Hero Member
*
Offline Offline

Posts: 1508648950

View Profile Personal Message (Offline)

Ignore
1508648950
Reply with quote  #2

1508648950
Report to moderator
1508648950
Hero Member
*
Offline Offline

Posts: 1508648950

View Profile Personal Message (Offline)

Ignore
1508648950
Reply with quote  #2

1508648950
Report to moderator
notabtcnuub
Newbie
*
Offline Offline

Activity: 20


View Profile
August 16, 2014, 03:48:38 PM
 #10442

Sat next to a group of loud people at Salt Room yesterday for lunch.  Evidently this was the HashFast crew.  Recognized her harshness Monica, miss Cara and Hong Kong Tim.  They seemed to be very happy to no longer be working for HF and said that the only people left are Eduardo and Simon.  Can anyone else verify this?
ProfMac
Legendary
*
Offline Offline

Activity: 854



View Profile
August 16, 2014, 06:33:29 PM
 #10443

I Googled for Monica, Cara, Tim, Hashfast and found a transcript of a 2014-07-08 meeting.

I try to be respectful and informed.
cedivad
Legendary
*
Offline Offline

Activity: 1134



View Profile
August 16, 2014, 07:03:07 PM
 #10444

Can anyone else verify this?
As far as I know it's not too wrong: Edward should have left (but maybe he is still being paid as "sales guy") and Monica should be still there, but that could have changed. Anything interesting they said?

I Googled for Monica, Cara, Tim, Hashfast and found a transcript of a 2014-07-08 meeting.
There is also a second one: http://hashfast.org/071514.2.pdf

My anger against what is wrong in the Bitcoin community is productive:
Bitcointa.lk - Replace "Bitcointalk.org" with "Bitcointa.lk" in this url to see how this page looks like on a proper forum (Announcement Thread)
Hashfast.org - Wiki for screwed customers
Minor Miner
Legendary
*
Offline Offline

Activity: 994


★ BitClave ICO: 08/11/17 ★


View Profile
August 16, 2014, 07:23:29 PM
 #10445

I Googled for Monica, Cara, Tim, Hashfast and found a transcript of a 2014-07-08 meeting.

This is the initial meeting where they identified Monica as the responsible party (some sock puppet account asked "how could monica have so much power to delay" and that is your answer).   They also said that simon and eduardo never received more than 5 BTC total from all the revenue.   So that is in sworn testimony and should be assumed to be true unless someone proves otherwise.
And Monica is legally responsible for signing the documents (why would she do that when she must have known the level of scammy sales behavior and lying that went on in november?).  She also was privy to the contracts that were sketchy at best and the delaware LLC that "owns all the IP and gets revenue from its use YET NEVER PAID ONE DOLLAR FOR IT"?
I guess that is my biggest confusion in all of this.   Why would some professional come into this company in April and agree to take any responsibility when it is obvious that some really bad decisions were made and very obvious that many customers were lied to?   It is one thing to take a paycheck but it is another to sign anything on the part of the company.


                  ,'#██+:                 
              ,█████████████'             
            +██████████████████           
          ;██████████████████████         
         ███████:         .███████`       
        ██████               ;█████'      
      `█████                   #████#     
      ████+                     `████+    
     ████:                        ████,   
    ████:    .#              █     ████   
   ;███+     ██             ███     ████  
   ████     ███'            ███.    '███, 
  +███     #████           ,████     ████ 
  ████     █████ .+██████: █████+    `███.
 ,███     ███████████████████████     ████
 ████     ███████████████████████'    :███
 ███:    +████████████████████████     ███`
 ███     █████████████████████████`    ███+
,███     ██████████████████████████    #███
'███    '██████████████████████████    ;███
#███    ███████████████████████████    ,███
████    ███████████████████████████.   .███
████    ███████████████████████████'   .███
+███    ███████████████████████████+   :███
:███    ███████████████████████████'   +███
 ███    ███████████████████████████.   ███#
 ███.   #██████████████████████████    ███,
 ████    █████████████████████████+   `███
 '███    '████████████████████████    ████
  ███;    ███████████████████████     ███;
  ████     #████████████████████     ████ 
   ███#     .██████████████████     `███+ 
   ████`      ;██████████████       ████  
    ████         '███████#.        ████.  
    .████                         █████   
     '████                       █████    
      #████'                    █████     
       +█████`                ██████      
        ,██████:           `███████       
          ████████#;,..:+████████.        
           ,███████████████████+          
             .███████████████;            
                `+███████#,               
cedivad
Legendary
*
Offline Offline

Activity: 1134



View Profile
August 16, 2014, 07:34:48 PM
 #10446

I don't know it, but I don't think that Monica is accountable for whatever happened before her arrival. Maybe they were asking who is the responsible as of today?

My anger against what is wrong in the Bitcoin community is productive:
Bitcointa.lk - Replace "Bitcointalk.org" with "Bitcointa.lk" in this url to see how this page looks like on a proper forum (Announcement Thread)
Hashfast.org - Wiki for screwed customers
notabtcnuub
Newbie
*
Offline Offline

Activity: 20


View Profile
August 16, 2014, 08:14:30 PM
 #10447

They talked about how happy they were to be done with HF.  Eddie apparently lives at the office, along with his dog that is pooping a lot, even on someone's computer monitor.

Can anyone else verify this?
As far as I know it's not too wrong: Edward should have left (but maybe he is still being paid as "sales guy") and Monica should be still there, but that could have changed. Anything interesting they said?

I Googled for Monica, Cara, Tim, Hashfast and found a transcript of a 2014-07-08 meeting.
There is also a second one: http://hashfast.org/071514.2.pdf
Micky25
Legendary
*
Offline Offline

Activity: 904



View Profile
August 16, 2014, 08:21:44 PM
 #10448

They talked about how happy they were to be done with HF.  Eddie apparently lives at the office, along with his dog that is pooping a lot, even on someone's computer monitor.


this might be because Eddie is too "attached" to this little puppie. As time goes by, the individual orifices get worn and defective.
scr3u.ucr3trs
Jr. Member
*
Offline Offline

Activity: 33


View Profile
August 16, 2014, 09:38:20 PM
 #10449

Has there been a final ruling yet on the Hashfast case?

The ruling is the creditors committee screwed the creditors for their own personal interests.  They hired a CRO type to run the company and he's very expensive even though they don't have money to pay their staff. 
Minor Miner
Legendary
*
Offline Offline

Activity: 994


★ BitClave ICO: 08/11/17 ★


View Profile
August 16, 2014, 09:44:26 PM
 #10450

I don't know it, but I don't think that Monica is accountable for whatever happened before her arrival. Maybe they were asking who is the responsible as of today?
no she is not responsible for it.   BUT, if she found anything amiss in the books and did not report it, she would be.   Any CFO or CPA of any kind, would first reconcile all the books to get YE books (they were only in business 7 months in 2013 so this is not that hard to do).   What I would take from her NOT saying anything is that maybe there is nothing bad to find.   It is not in her interest to cover it up, so you need to assume there is nothing to cover up.   Or, that it is hidden and she was not smart enough to find it.   
I do not find it credible that someone with no real interest in the company (she only was awarded 3% equity in the delaware company that was formed to try "shield" the IP) would take any personal risk of perjuring themselves. 


                  ,'#██+:                 
              ,█████████████'             
            +██████████████████           
          ;██████████████████████         
         ███████:         .███████`       
        ██████               ;█████'      
      `█████                   #████#     
      ████+                     `████+    
     ████:                        ████,   
    ████:    .#              █     ████   
   ;███+     ██             ███     ████  
   ████     ███'            ███.    '███, 
  +███     #████           ,████     ████ 
  ████     █████ .+██████: █████+    `███.
 ,███     ███████████████████████     ████
 ████     ███████████████████████'    :███
 ███:    +████████████████████████     ███`
 ███     █████████████████████████`    ███+
,███     ██████████████████████████    #███
'███    '██████████████████████████    ;███
#███    ███████████████████████████    ,███
████    ███████████████████████████.   .███
████    ███████████████████████████'   .███
+███    ███████████████████████████+   :███
:███    ███████████████████████████'   +███
 ███    ███████████████████████████.   ███#
 ███.   #██████████████████████████    ███,
 ████    █████████████████████████+   `███
 '███    '████████████████████████    ████
  ███;    ███████████████████████     ███;
  ████     #████████████████████     ████ 
   ███#     .██████████████████     `███+ 
   ████`      ;██████████████       ████  
    ████         '███████#.        ████.  
    .████                         █████   
     '████                       █████    
      #████'                    █████     
       +█████`                ██████      
        ,██████:           `███████       
          ████████#;,..:+████████.        
           ,███████████████████+          
             .███████████████;            
                `+███████#,               
scr3u.ucr3trs
Jr. Member
*
Offline Offline

Activity: 33


View Profile
August 16, 2014, 09:44:36 PM
 #10451

They talked about how happy they were to be done with HF.  Eddie apparently lives at the office, along with his dog that is pooping a lot, even on someone's computer monitor.

Can anyone else verify this?
As far as I know it's not too wrong: Edward should have left (but maybe he is still being paid as "sales guy") and Monica should be still there, but that could have changed. Anything interesting they said?

I Googled for Monica, Cara, Tim, Hashfast and found a transcript of a 2014-07-08 meeting.
There is also a second one: http://hashfast.org/071514.2.pdf

WHO wouldn't be happy leaving the likes of Eddie and his dog and Simon who bolts the country and leaves a team behind just to clean up their mess?

I know someone who used to work there and it is true - you can checked their profiles - they have all left the company in disagreement with not being able to run it like a real business.  From what Monica told the lawyers the only reason she joined was that there was a term sheet and a real CEO about to join, then she had to switch from consultant to employee just to get paid.  She told my friend she tried resigning a few weeks ago and they said she couldn't.  Bad choice of hers.  There is an engineer left who is supposed to be good but he can't run the whole show.  Tim left a while ago and so did the chip design guys.
scr3u.ucr3trs
Jr. Member
*
Offline Offline

Activity: 33


View Profile
August 16, 2014, 11:56:04 PM
 #10452

Are you still blaming Monica because we dont have a cro yet?

Why do I have to beg for updates?

Agreed.  Why?  And frankly, blaming Monica is getting really old and annoying.  

Appointing a CRO is a voluntary action taken by a company.  If the CRO hasn't been officially hired yet even though HF's lawyer told the court last Friday they agreed to hire a CRO then that is because whomever is in charge at Hashfast is dragging their feet and hasn't signed the paperwork making it official.  I agree the run around we are getting is really old but lets not fool ourselves about where the problem lies.

Further more as has been repeated multiple times here, the LiquidBits deal would have in all likelihood resulted in $0 being paid out to customer creditors who are owed refunds.  The only people it would have benefited are a select group of Hashfast's suppliers and employees.  You can't get a worse deal than zero.

O, and by the way for anyone who still thinks that a different law firm should have been chosen to represent the creditors the choice that some other people were pushing made the legal news yesterday because they are being sued for hiding conflicts of interest and over billing in a bankruptcy case.

http://www.law360.com/bankruptcy/articles/567327

Simon is the only one at the company that can sign for a CRO but who cares.  The real question is who is getting money for the creditors?  the committee isn't for sure.  Any deal would have been, in hindsight, way better than the legal fees that the CRO is going to cover - we creditors are completely fucked.  And its good the committee is being sued since they are the ones that have caused the damage. 

So whats the plan?  Now that there are no employees left other than an engineer and the illegal founders who screwed everyone, and a CRO how is the money going to be made back for us all?  seems like a trustee is now in order.

The link didn't open - who is suing the creditors counsel?  Eddie?  he's the only one although I have heard there is a lot of disgust on the committee since the leaders don't agree on a direction. 

And the only reason I'm not posting my name is that this forum just likes to trash people for the heck of it as nobody has any brains on here as all they do is sit around all day on blogs and complain.  take some action instead and figure out a plan and sell the shit.
Minor Miner
Legendary
*
Offline Offline

Activity: 994


★ BitClave ICO: 08/11/17 ★


View Profile
August 17, 2014, 12:52:07 AM
 #10453


1.   Simon is the only one at the company that can sign for a CRO but who cares. 

2.   And its good the committee is being sued since they are the ones that have caused the damage. 
1.   You are wrong.
2.  You are wrong again on both you "points" in the one sentence.

You should stay anonymous, your statements are idiotic so anyone with any pride would want to keep their face covered while spewing them.


                  ,'#██+:                 
              ,█████████████'             
            +██████████████████           
          ;██████████████████████         
         ███████:         .███████`       
        ██████               ;█████'      
      `█████                   #████#     
      ████+                     `████+    
     ████:                        ████,   
    ████:    .#              █     ████   
   ;███+     ██             ███     ████  
   ████     ███'            ███.    '███, 
  +███     #████           ,████     ████ 
  ████     █████ .+██████: █████+    `███.
 ,███     ███████████████████████     ████
 ████     ███████████████████████'    :███
 ███:    +████████████████████████     ███`
 ███     █████████████████████████`    ███+
,███     ██████████████████████████    #███
'███    '██████████████████████████    ;███
#███    ███████████████████████████    ,███
████    ███████████████████████████.   .███
████    ███████████████████████████'   .███
+███    ███████████████████████████+   :███
:███    ███████████████████████████'   +███
 ███    ███████████████████████████.   ███#
 ███.   #██████████████████████████    ███,
 ████    █████████████████████████+   `███
 '███    '████████████████████████    ████
  ███;    ███████████████████████     ███;
  ████     #████████████████████     ████ 
   ███#     .██████████████████     `███+ 
   ████`      ;██████████████       ████  
    ████         '███████#.        ████.  
    .████                         █████   
     '████                       █████    
      #████'                    █████     
       +█████`                ██████      
        ,██████:           `███████       
          ████████#;,..:+████████.        
           ,███████████████████+          
             .███████████████;            
                `+███████#,               
scr3u.ucr3trs
Jr. Member
*
Offline Offline

Activity: 33


View Profile
August 17, 2014, 01:32:22 AM
 #10454


1.   Simon is the only one at the company that can sign for a CRO but who cares. 

2.   And its good the committee is being sued since they are the ones that have caused the damage. 
1.   You are wrong.
2.  You are wrong again on both you "points" in the one sentence.

You should stay anonymous, your statements are idiotic so anyone with any pride would want to keep their face covered while spewing them.

you are full of shit as usual.  The CRO is a CEO, nobody other than the president can appoint him.  Probably the board has to also.  Get your facts straight dude.
Minor Miner
Legendary
*
Offline Offline

Activity: 994


★ BitClave ICO: 08/11/17 ★


View Profile
August 17, 2014, 01:49:08 AM
 #10455


1.   Simon is the only one at the company that can sign for a CRO but who cares. 

2.   And its good the committee is being sued since they are the ones that have caused the damage. 
1.   You are wrong.
2.  You are wrong again on both you "points" in the one sentence.
You should stay anonymous, your statements are idiotic so anyone with any pride would want to keep their face covered while spewing them.
you are full of shit as usual.  The CRO is a CEO, nobody other than the president can appoint him.  Probably the board has to also.  Get your facts straight dude.
No, you are incorrect and entrenching on a FACT that you do not understand.   I realize that you are embarrassed about how many of the legal terms you have not understood and likely some of the financial also, but you should not be as these things are complicated.   But do not call someone "full of shit" that does understand.   Monica was actually the person that would have had to sign off on the hiring of the CRO.   Read some of the court documents.     Let me know if you would like some help understanding but stop being an idiot and tone down your language especially when you address people that are obviously better educated (and likely more intelligent) than yourself.


                  ,'#██+:                 
              ,█████████████'             
            +██████████████████           
          ;██████████████████████         
         ███████:         .███████`       
        ██████               ;█████'      
      `█████                   #████#     
      ████+                     `████+    
     ████:                        ████,   
    ████:    .#              █     ████   
   ;███+     ██             ███     ████  
   ████     ███'            ███.    '███, 
  +███     #████           ,████     ████ 
  ████     █████ .+██████: █████+    `███.
 ,███     ███████████████████████     ████
 ████     ███████████████████████'    :███
 ███:    +████████████████████████     ███`
 ███     █████████████████████████`    ███+
,███     ██████████████████████████    #███
'███    '██████████████████████████    ;███
#███    ███████████████████████████    ,███
████    ███████████████████████████.   .███
████    ███████████████████████████'   .███
+███    ███████████████████████████+   :███
:███    ███████████████████████████'   +███
 ███    ███████████████████████████.   ███#
 ███.   #██████████████████████████    ███,
 ████    █████████████████████████+   `███
 '███    '████████████████████████    ████
  ███;    ███████████████████████     ███;
  ████     #████████████████████     ████ 
   ███#     .██████████████████     `███+ 
   ████`      ;██████████████       ████  
    ████         '███████#.        ████.  
    .████                         █████   
     '████                       █████    
      #████'                    █████     
       +█████`                ██████      
        ,██████:           `███████       
          ████████#;,..:+████████.        
           ,███████████████████+          
             .███████████████;            
                `+███████#,               
starsoccer9
Legendary
*
Offline Offline

Activity: 1617



View Profile WWW
August 17, 2014, 02:16:18 AM
 #10456

So more and more talk and no actions.

Minor Miner
Legendary
*
Offline Offline

Activity: 994


★ BitClave ICO: 08/11/17 ★


View Profile
August 17, 2014, 02:29:30 AM
 #10457

So more and more talk and no actions.
You are ONLY NOW getting to the first days when someone other than HF has control over the delays.    We are basically at day ONE because of the stonewalling of HF management.   Even after they agreed to give up some control, they then delayed before doing what they agreed to.   Disgusting behavior.   Just like their testimony where Simon "has no idea why they set up the Delaware LLC".   
Just read the sworn testimony at the link above.   While people were asking for refunds AND MANAGEMENT INCLUDING MONICA knew the company was insolvent, they gave everyone raises (some of them $100,000 per year) for FAILING and they started paying 85,000 per month in "royalties" to a delaware company for use of the IP that the delaware LLC paid NOTHING FOR.

This is probably the most important point everyone needs to read in the testimony for themselves and think about what kind of people would do that.   You have wasted $20 Miilion of other people's money and your actions AFTER it is clear the ship is sinking is to enrich yourself personally through cash raises and an attempt to steal the assets of the company (that other people's $20MM paid for) by transferring them to another company that MOST employees (including the CFO) own shares in.


                  ,'#██+:                 
              ,█████████████'             
            +██████████████████           
          ;██████████████████████         
         ███████:         .███████`       
        ██████               ;█████'      
      `█████                   #████#     
      ████+                     `████+    
     ████:                        ████,   
    ████:    .#              █     ████   
   ;███+     ██             ███     ████  
   ████     ███'            ███.    '███, 
  +███     #████           ,████     ████ 
  ████     █████ .+██████: █████+    `███.
 ,███     ███████████████████████     ████
 ████     ███████████████████████'    :███
 ███:    +████████████████████████     ███`
 ███     █████████████████████████`    ███+
,███     ██████████████████████████    #███
'███    '██████████████████████████    ;███
#███    ███████████████████████████    ,███
████    ███████████████████████████.   .███
████    ███████████████████████████'   .███
+███    ███████████████████████████+   :███
:███    ███████████████████████████'   +███
 ███    ███████████████████████████.   ███#
 ███.   #██████████████████████████    ███,
 ████    █████████████████████████+   `███
 '███    '████████████████████████    ████
  ███;    ███████████████████████     ███;
  ████     #████████████████████     ████ 
   ███#     .██████████████████     `███+ 
   ████`      ;██████████████       ████  
    ████         '███████#.        ████.  
    .████                         █████   
     '████                       █████    
      #████'                    █████     
       +█████`                ██████      
        ,██████:           `███████       
          ████████#;,..:+████████.        
           ,███████████████████+          
             .███████████████;            
                `+███████#,               
scr3u.ucr3trs
Jr. Member
*
Offline Offline

Activity: 33


View Profile
August 17, 2014, 02:36:08 AM
 #10458

So more and more talk and no actions.
You are ONLY NOW getting to the first days when someone other than HF has control over the delays.    We are basically at day ONE because of the stonewalling of HF management.   Even after they agreed to give up some control, they then delayed before doing what they agreed to.   Disgusting behavior.   Just like their testimony where Simon "has no idea why they set up the Delaware LLC".   
Just read the sworn testimony at the link above.   While people were asking for refunds AND MANAGEMENT INCLUDING MONICA knew the company was insolvent, they gave everyone raises (some of them $100,000 per year) for FAILING and they started paying 85,000 per month in "royalties" to a delaware company for use of the IP that the delaware LLC paid NOTHING FOR.

This is probably the most important point everyone needs to read in the testimony for themselves and think about what kind of people would do that.   You have wasted $20 Miilion of other people's money and your actions AFTER it is clear the ship is sinking is to enrich yourself personally through cash raises and an attempt to steal the assets of the company (that other people's $20MM paid for) by transferring them to another company that MOST employees (including the CFO) own shares in.


All the employee raises were done prior to the CFO joining the company.  It was Simon and his wife that granted them according to employees.  The CFO disagreed with the raises and fought with management to lay people off and keep them from buying lunches for everyone every day- this came from one of the layer off employees.  Eddie was seen taking the staff to lunch at a pretty expensive restaurant and we complained to management and were told it didn't happen (through the support line) so they continued to lie to customers even then. 
The equity is typical in any silicon valley company for any executive and is worthless so who cares who has equity?  Eddie squandered his family money and Simon and he never put a cent in anyway, so its irrelevant.  Focus on facts that matter.  Where is the committee plant get creditors money?  They claimed to have one weeks ago and nothing has been posted.  A tiny bit suspicious that maybe there isn't one? 
Minor Miner
Legendary
*
Offline Offline

Activity: 994


★ BitClave ICO: 08/11/17 ★


View Profile
August 17, 2014, 02:46:26 AM
 #10459

So more and more talk and no actions.
You are ONLY NOW getting to the first days when someone other than HF has control over the delays.    We are basically at day ONE because of the stonewalling of HF management.   Even after they agreed to give up some control, they then delayed before doing what they agreed to.   Disgusting behavior.   Just like their testimony where Simon "has no idea why they set up the Delaware LLC".   
Just read the sworn testimony at the link above.   While people were asking for refunds AND MANAGEMENT INCLUDING MONICA knew the company was insolvent, they gave everyone raises (some of them $100,000 per year) for FAILING and they started paying 85,000 per month in "royalties" to a delaware company for use of the IP that the delaware LLC paid NOTHING FOR.

This is probably the most important point everyone needs to read in the testimony for themselves and think about what kind of people would do that.   You have wasted $20 Miilion of other people's money and your actions AFTER it is clear the ship is sinking is to enrich yourself personally through cash raises and an attempt to steal the assets of the company (that other people's $20MM paid for) by transferring them to another company that MOST employees (including the CFO) own shares in.


All the employee raises were done prior to the CFO joining the company.  It was Simon and his wife that granted them according to employees.  The CFO disagreed with the raises and fought with management to lay people off and keep them from buying lunches for everyone every day- this came from one of the layer off employees.  Eddie was seen taking the staff to lunch at a pretty expensive restaurant and we complained to management and were told it didn't happen (through the support line) so they continued to lie to customers even then. 
The equity is typical in any silicon valley company for any executive and is worthless so who cares who has equity?  Eddie squandered his family money and Simon and he never put a cent in anyway, so its irrelevant.  Focus on facts that matter.  Where is the committee plant get creditors money?  They claimed to have one weeks ago and nothing has been posted.  A tiny bit suspicious that maybe there isn't one? 
I do not know if the committee has plan or not.   The CRO is the one that will matter right now.  The committee still does not have the power to run the company.   The CRO has that power now.   Seriously, I will explain how bankruptcy works if you call me if only to stop you from mistakes like this.   I would assume if you understood how this works that you may be able to help instead of stating crazy things like they are facts.
You speak like a used car or RV/boat salesman, I thought you were a lawyer?   Guess that read was wrong.
I have been through three bankruptcies where people tried not to pay me.   I have received full payment in two of them and the other person is still making payments after trying to hide in PR.   These are not fun.   Especially when management spent their time wasting away creditors' money instead of trying to turn the business back into an ongoing concern.
Attempting to steal the assets from the company is not irrelevant, it speaks to character and lets people know that there could be more diversions to look for.    And I am not sure that it is a slam dunk that the IP is back in the estate where it belongs.   Do you have citation for that?


                  ,'#██+:                 
              ,█████████████'             
            +██████████████████           
          ;██████████████████████         
         ███████:         .███████`       
        ██████               ;█████'      
      `█████                   #████#     
      ████+                     `████+    
     ████:                        ████,   
    ████:    .#              █     ████   
   ;███+     ██             ███     ████  
   ████     ███'            ███.    '███, 
  +███     #████           ,████     ████ 
  ████     █████ .+██████: █████+    `███.
 ,███     ███████████████████████     ████
 ████     ███████████████████████'    :███
 ███:    +████████████████████████     ███`
 ███     █████████████████████████`    ███+
,███     ██████████████████████████    #███
'███    '██████████████████████████    ;███
#███    ███████████████████████████    ,███
████    ███████████████████████████.   .███
████    ███████████████████████████'   .███
+███    ███████████████████████████+   :███
:███    ███████████████████████████'   +███
 ███    ███████████████████████████.   ███#
 ███.   #██████████████████████████    ███,
 ████    █████████████████████████+   `███
 '███    '████████████████████████    ████
  ███;    ███████████████████████     ███;
  ████     #████████████████████     ████ 
   ███#     .██████████████████     `███+ 
   ████`      ;██████████████       ████  
    ████         '███████#.        ████.  
    .████                         █████   
     '████                       █████    
      #████'                    █████     
       +█████`                ██████      
        ,██████:           `███████       
          ████████#;,..:+████████.        
           ,███████████████████+          
             .███████████████;            
                `+███████#,               
scr3u.ucr3trs
Jr. Member
*
Offline Offline

Activity: 33


View Profile
August 17, 2014, 02:49:00 AM
 #10460

So more and more talk and no actions.
You are ONLY NOW getting to the first days when someone other than HF has control over the delays.    We are basically at day ONE because of the stonewalling of HF management.   Even after they agreed to give up some control, they then delayed before doing what they agreed to.   Disgusting behavior.   Just like their testimony where Simon "has no idea why they set up the Delaware LLC".   
Just read the sworn testimony at the link above.   While people were asking for refunds AND MANAGEMENT INCLUDING MONICA knew the company was insolvent, they gave everyone raises (some of them $100,000 per year) for FAILING and they started paying 85,000 per month in "royalties" to a delaware company for use of the IP that the delaware LLC paid NOTHING FOR.

This is probably the most important point everyone needs to read in the testimony for themselves and think about what kind of people would do that.   You have wasted $20 Miilion of other people's money and your actions AFTER it is clear the ship is sinking is to enrich yourself personally through cash raises and an attempt to steal the assets of the company (that other people's $20MM paid for) by transferring them to another company that MOST employees (including the CFO) own shares in.


You obviously didn't read the transcripts.  The money paid to the other company was for engineering work done for the IP that is supposedly worth $30M according to Simon and worth almost nothing according to Monica.  The fact is the company just did the two company model to hold the IP and move dollars back and forth.  It wasn't even kept right in the accounting per the testimony and had no stealing of assets involved - that just shows how illiterate you are with basic accounting.

However it is sinful that raises were given to employees who had only been with the company months, some of them big so I do agree with you on that point.  Its probably criminal.
Pages: « 1 ... 473 474 475 476 477 478 479 480 481 482 483 484 485 486 487 488 489 490 491 492 493 494 495 496 497 498 499 500 501 502 503 504 505 506 507 508 509 510 511 512 513 514 515 516 517 518 519 520 521 522 [523] 524 525 526 527 528 529 530 531 532 533 534 535 536 537 538 539 540 541 542 543 544 545 546 547 548 549 550 551 552 553 554 555 556 557 558 559 560 561 562 563 564 565 566 567 568 569 570 571 572 573 ... 586 »
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!