HashFast announces specs for new ASIC: 400GH/s

[pmorici]

What are the show-stopper problems that keep this from happening?

It's my understanding that late Friday Hashfast finally signed the document giving the CRO authority to take control of the company.  Anyone looking for a fair deal that wants to buy chips or other assets should be able to deal with the company now w/o fear of getting taken.  The CRO should start their work Monday.

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[cedivad]

Great, when can we expect something to finally happen? Or you will keep going on with this level of secrecy?

[ProfMac]

What are the show-stopper problems that keep this from happening?

It's my understanding that late Friday Hashfast finally signed the document giving the CRO authority to take control of the company.  Anyone looking for a fair deal that wants to buy chips or other assets should be able to deal with the company now w/o fear of getting taken.  The CRO should start their work Monday.

The power supplies on their parts for sale web page are priced a little higher than the same parts on eBay.  Perhaps an update to this page would help bring in cash.

[ProfMac]

So are we going to get all our money back already or not? :-)

That depends a lot on your definitions of all and already.

An involuntary bankruptcy changes the game significantly.  It is ponderous and slow, but inescapable.  It is really best to answer the trustee's questions honestly and not try to hide assets.  The trustee tries to protect the creditors, but they do not create wealth, only conserve and distribute what still remains.  Generally, the trustee will approve any (legal) plan that both the debtor and creditors approve. 

I am not a lawyer, and this opinion could be wrong.

[MrTeal]

What are the show-stopper problems that keep this from happening?

It's my understanding that late Friday Hashfast finally signed the document giving the CRO authority to take control of the company.  Anyone looking for a fair deal that wants to buy chips or other assets should be able to deal with the company now w/o fear of getting taken.  The CRO should start their work Monday.

The power supplies on their parts for sale web page are priced a little higher than the same parts on eBay.  Perhaps an update to this page would help bring in cash.

The coolers are kind of ridiculous as well, since they are just an OEM version of the H80i without the fans. $432 for four of those, vs buying four retail boxed H80i's (with the dual fans) at Newegg today for $299.96.

[pmorici]

Great, when can we expect something to finally happen? Or you will keep going on with this level of secrecy?

There's no "secrecy" there just isn't anything to report because nothing has happened.

[pmorici]

What are the show-stopper problems that keep this from happening?

It's my understanding that late Friday Hashfast finally signed the document giving the CRO authority to take control of the company.  Anyone looking for a fair deal that wants to buy chips or other assets should be able to deal with the company now w/o fear of getting taken.  The CRO should start their work Monday.

The power supplies on their parts for sale web page are priced a little higher than the same parts on eBay.  Perhaps an update to this page would help bring in cash.

Well the ones on eBay are Bronze and the ones Hashfast has are 80 Plus Gold according to their court filings so they should be a bit more expensive.  The model Hashfast has sells on Amazon for $169

But I agree at that price they aren't any great deal esp. considering they have to be bought in lots of 7.  If anyone wanted to contact the CRO and make a bid on the supplies I'm sure they would seriously consider it.

[ProfMac]

The power supplies on their parts for sale web page are priced a little higher than the same parts on eBay.  Perhaps an update to this page would help bring in cash.

Well the ones on eBay are Bronze and the ones Hashfast has are 80 Plus Gold according to their court filings so they should be a bit more expensive.  The model Hashfast has sells on Amazon for $169

I missed that detail.  Then again, others might also miss it on the website.

[pmorici]

The power supplies on their parts for sale web page are priced a little higher than the same parts on eBay.  Perhaps an update to this page would help bring in cash.

Well the ones on eBay are Bronze and the ones Hashfast has are 80 Plus Gold according to their court filings so they should be a bit more expensive.  The model Hashfast has sells on Amazon for $169

I missed that detail.  Then again, others might also miss it on the website.

Yup.  That post was made by the old management in an effort to make it look like they were trying to market the assets to people instead of just giving them away at pennies on the dollar.  Once the CRO gets in there and takes stock I'm sure we will see some better marketing of the assets besides just some out of the way blog post that no one noticed for several days until someone posted it here on BTC talk.

[cedivad]

Great, when can we expect something to finally happen? Or you will keep going on with this level of secrecy?

There's no "secrecy" there just isn't anything to report because nothing has happened.

I was under the impression that you guys had a plan? Or something resembling it? So your post means that there is no timeline for the franchising program, no PCBs being produced, no plan for the famous second board design for the chips still in wafer form, etc?

I sincerely hope not, that the plan isn't simply to market something the market isn't interested in.

[pmorici]

Great, when can we expect something to finally happen? Or you will keep going on with this level of secrecy?

There's no "secrecy" there just isn't anything to report because nothing has happened.

I was under the impression that you guys had a plan? Or something resembling it? So your post means that there is no timeline for the franchising program, no PCBs being produced, no plan for the famous second board design for the chips still in wafer form, etc?

I sincerely hope not, that the plan isn't simply to market something the market isn't interested in.

The only concrete 'plan' was to get a CRO or a trustee so we could perhaps begin to do some of those things.  The committee has no control over anything.  They can suggest things or object to things that are clearly bad that is about it.  Up until now all the suggestions the committee made to the HF management were ignored.  That is why we needed a CRO.

[BitCoin Operated Boy]

So are we going to get all our money back already or not? :-)

That depends a lot on your definitions of all and already.

An involuntary bankruptcy changes the game significantly.  It is ponderous and slow, but inescapable.  It is really best to answer the trustee's questions honestly and not try to hide assets.  The trustee tries to protect the creditors, but they do not create wealth, only conserve and distribute what still remains.  Generally, the trustee will approve any (legal) plan that both the debtor and creditors approve. 

I am not a lawyer, and this opinion could be wrong.

Thanks for reply. Brief and very coherent.

Hopefully the court will arrive at decisions in our favour instead of favour of these silly, selfish, inconsiderate, immature kids who fiddled with our money like toys in the sandpit.

[scr3u.ucr3trs]

Great, when can we expect something to finally happen? Or you will keep going on with this level of secrecy?

There's no "secrecy" there just isn't anything to report because nothing has happened.

As is typical with all the so called CRO plans or committee plans.  Two weeks ago bravado about what honking money maker plans they were and now nothing to show other than hiring expensive people to criticize a website?  What is the actual plan to get creditors money back?  You're on the committee so you should know as the plans were all supposed to be unanimous votes.

[scr3u.ucr3trs]

Great, when can we expect something to finally happen? Or you will keep going on with this level of secrecy?

There's no "secrecy" there just isn't anything to report because nothing has happened.

I was under the impression that you guys had a plan? Or something resembling it? So your post means that there is no timeline for the franchising program, no PCBs being produced, no plan for the famous second board design for the chips still in wafer form, etc?

I sincerely hope not, that the plan isn't simply to market something the market isn't interested in.

The only concrete 'plan' was to get a CRO or a trustee so we could perhaps begin to do some of those things.  The committee has no control over anything.  They can suggest things or object to things that are clearly bad that is about it.  Up until now all the suggestions the committee made to the HF management were ignored.  That is why we needed a CRO.

It was stated that a "Plan" was presented to HashFast management a couple weeks ago.  Now you are saying that it wasn't a plan, but just a CRO?  What specific suggestions in lieu of a plan did the committee make that were ignored by HF management and who were the suggestions made to?  Were they formalized legally (those are the only people gonna get any money out of this thing now).  Why didn't the lawyers raise a stink?  Where is LB now that there deal is dead, shouldn't they be screaming and jumping and whining too?

[Ilan1]

This facade is just going to go on and on and on until there is nothing left to liquidate as the chips will be become worthless... IMO the best way forward is for the new CRO or whom ever to agree a sale over the remaining inventory, tangible and intangible and then do HF to pay back the creditors what ever they can get.

Question is who's gonna buy the chips? Who's gonna buy the IP? Is anyone actually proactively looking for a buyer? What we waiting for?

[scr3u.ucr3trs]

This facade is just going to go on and on and on until there is nothing left to liquidate as the chips will be become worthless... IMO the best way forward is for the new CRO or whom ever to agree a sale over the remaining inventory, tangible and intangible and then do HF to pay back the creditors what ever they can get.

Question is who's gonna buy the chips? Who's gonna buy the IP? Is anyone actually proactively looking for a buyer? What we waiting for?

Apparently we are waiting for the lawyers and CRO to collect more money from the poor creditors... shame shame on the committee for allowing this travesty to happen.

Nobody is buying the chips and the IP isn't worth anything as all the engineers have left that created the IP and the rest of isn't HF creation -=its another company in silicon valley who's already out shopping it and selling it.  Simon thinks he's created everything that other competitors are using but according to their testimonies no other competitors saw any value in what he'd created. Maybre there is a slight flaw in his thinking?  Or in the CFO or CRO thinking there is value there?  Dump the assets to liquidation and move on to court trustee. Otherwise its just a slow cash burn death and creditors are screwed.

[pmorici]

FYI, Notice was just filed with the court of a website where creditors can get all the latest court documents and audio from the Hashfast case and provide input to the process.  There are also instructions on filing a claim there if you still need to do that.

Notice to unsecured creditors of right to receive information from and provide comments

The direct URL to the site mentioned in that document is...

https://cases.processgeneral.com/cases/case/5/hashfast-technologies-llc/

[cedivad]

https://cases.processgeneral.com/cases/document/case/5/hashfast-technologies-llc/120650/

Claims against Uniquify, Inc. for breach of non-compete, warranty and contract 330,000.00
Claims against DxCorr Design, Inc. for breach of non-compete and contract (exclusivity and confidentiality) Unknown
Claims against Ciara Technologies for breach of contract Unknown

That's new

Book "USB Complete: Developer's Guide, Fourth Edition" by Jan Axelson

Meh... I remember them having problems with the USB interface in the BJ thread, and I can totally see them wasting god knows what time and resources on it instead of focusing on real things... So, they bought a book.

https://bitcointalk.org/index.php?action=profile;u=368491

[Easy2Mine]

@Cedivad
Thanks for keeping us updated about HashLast

I missed Phin making jokes of the HashLast crooks

[bayo]

I m waiting my refund like some other and receive some papers from clerk office or lawyers but really cant read this in american. What need to do be done on my side? I need to send back something ??


Thnks for help in advance..