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Author Topic: [LABCOIN] IPO [BTCT.CO] - Details/FAQ and Discussion (ASIC dev/sales/mining)  (Read 1040793 times)
TheSwede75
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July 29, 2013, 04:04:17 PM
 #61

So what happens if the management wants to sell some shares?

In my understanding, the structure of this IPO is Class A shares with voting power and Class B shares without voting power. If anyone wants to sell Class A shares, then the shares should have voting power, don't you think?

All 10.000.000 shares are of the same type and gives owners rights to dividends of 100% from the proceeds of Labcoin (don't confuse this with our 70% dividend estimate since the reinvestment fund is not money that leaves the project but are reinvested in development and production for future growth and profits). From a management perspective, Labcoin is controlled by iTec Pro LTD and no shares carry a set voting value.


Exciting new IPO! One question though;
Both Asicminer and ActiveMining had in their IPO to first pay back the public investors in full before taking any cut of the profits themselves. Is this something Labcoin is considering also?


In short. no. In the case of ASICMINER I believe this was a necessity due to the large amount of shares held by very large owners and how the ownership was decided between the different "business units" and I really have nothing negative to say about this approach. In the case of AMC I can honestly say that I believe this was a must due to the initially VERY high amount of "future shares" that they made themselves able to place after all IPO shares were already sold.

We place all available IPO shares on the market initially and retain a far lower percentage of ownership, we also have no plans of selling any secondary offering and will not dilute ownership with additional shares post IPO. Because of this, we do not feel that any dividend incentive is needed for investors.
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TheSwede75
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July 29, 2013, 04:05:14 PM
 #62

Now that Burnside has removed the admin lock on this asset, do you have a timeline for when you think you'll remove the issuer lock so this security can be voted upon?

I am simply waiting for a few very minor questions to be answered by a few team members and the issuer lock will be removed for voting. This will happen in the next few hours.
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July 29, 2013, 04:10:07 PM
 #63


Edit: As a possible instrument of direct influence from a share holder perspective we are considering two main options. A: a form of "board seat" share sales (ASICMINER does this and the board seat owners work as an advisory panel from what I understand) or B: a form of "trustee" system where we bring outside knowledge in through share holder votes on BTCT.CO and all share holders can approve or deny suggestions of new 'voting members' that would represent the share holders.



Usually how it works in public companies is that the Board of Directors are consist of insider directors and independent directors. Insider directors own shares of the company while independent directors don't.

But for the sake of the current stage that Labcoin is in(Start-up), i think less people making decisions is better. We don't want to slow things down.

http://www.investopedia.com/terms/b/boardofdirectors.asp
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July 29, 2013, 04:23:11 PM
 #64

Update: LABCOIN asset is now open for voting on BTCT.CO (issuer lock removed). More updates and info coming soon to the top post in this thread.
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July 29, 2013, 04:29:41 PM
 #65

I am monitoring this thread.

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blackswan
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July 29, 2013, 05:07:39 PM
 #66

Update: LABCOIN asset is now open for voting on BTCT.CO (issuer lock removed). More updates and info coming soon to the top post in this thread.
Exciting.

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superbit
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July 29, 2013, 05:15:53 PM
 #67

Once the asset is approved, where do we find out the time that shares will be open to the public

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TheSwede75
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July 29, 2013, 05:19:08 PM
 #68

Once the asset is approved, where do we find out the time that shares will be open to the public

When it is unlocked we will set a time for the shares to be released for trading and communicate this through this thread and the Labcoin custom hardware thread at least a few hours in advance (slightly depending on what time of day we reach approval. We will likely release the security for trading during or close to US business hours.).

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July 29, 2013, 05:42:12 PM
 #69

Once the asset is approved, where do we find out the time that shares will be open to the public

When it is unlocked we will set a time for the shares to be released for trading and communicate this through this thread and the Labcoin custom hardware thread at least a few hours in advance (slightly depending on what time of day we reach approval. We will likely release the security for trading during or close to US business hours.).



That would put quite a a lot of people at a major disadvantage. You should give at least 24 hours notice.
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July 29, 2013, 05:44:27 PM
 #70

Once the asset is approved, where do we find out the time that shares will be open to the public

When it is unlocked we will set a time for the shares to be released for trading and communicate this through this thread and the Labcoin custom hardware thread at least a few hours in advance (slightly depending on what time of day we reach approval. We will likely release the security for trading during or close to US business hours.).



That would quite a a lot of people at a major disadvantage. You should give at least 24 hours notice.

+1

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TheSwede75
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July 29, 2013, 05:47:38 PM
 #71

Once the asset is approved, where do we find out the time that shares will be open to the public

When it is unlocked we will set a time for the shares to be released for trading and communicate this through this thread and the Labcoin custom hardware thread at least a few hours in advance (slightly depending on what time of day we reach approval. We will likely release the security for trading during or close to US business hours.).



That would quite a a lot of people at a major disadvantage. You should give at least 24 hours notice.

+1

We will definitely take this into consideration. Thank you for your input!
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July 29, 2013, 07:16:45 PM
 #72

"- Production of mass quantities of 130 nm generation 1 ASIC chips (First run production scheduled, NRE costs taken and first batch of chips to be ordered)

- Development and production of Bitcoin Miners, based on the 1st generation ASIC Chips available to customers within 2 months of successful IPO (Component choice made and ordering ready to start)"


So roughly how much hashing power is Labcoin expecting to produce, given the goal of BTC7,000 IPO has reached?

When can we expect projections for financials and productions?

I would love to see some spreadsheets and charts.  Cheesy
I think solid number projections will give investors strong confidence in the future Labcoin business.

Thanks!
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July 29, 2013, 07:35:35 PM
 #73

"- Production of mass quantities of 130 nm generation 1 ASIC chips (First run production scheduled, NRE costs taken and first batch of chips to be ordered)

- Development and production of Bitcoin Miners, based on the 1st generation ASIC Chips available to customers within 2 months of successful IPO (Component choice made and ordering ready to start)"


So roughly how much hashing power is Labcoin expecting to produce, given the goal of BTC7,000 IPO has reached?

When can we expect projections for financials and productions?

I would love to see some spreadsheets and charts.  Cheesy
I think solid number projections will give investors strong confidence in the future Labcoin business.

Thanks!

I am posting chip specs and pricing shortly and will include our best estimates for hashing power for the first production orders of the Chips at least.
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July 29, 2013, 07:49:00 PM
 #74

So far looks like a well run business with good communication. Looking forward to the IPO. Smiley
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July 29, 2013, 08:07:35 PM
 #75

I am posting chip specs and pricing shortly and will include our best estimates for hashing power for the first production orders of the Chips at least.
interested, and excited to see chip specs and pricing
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July 29, 2013, 08:11:38 PM
 #76

I am posting chip specs and pricing shortly and will include our best estimates for hashing power for the first production orders of the Chips at least.
interested, and excited to see chip specs and pricing

Given the technology, I'm looking at the BlockErupter as the comparable for benchmarking purposes, although I'm also expecting 'anticipated' figures in early reports - as we're not discussing production chips yet.

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July 29, 2013, 08:15:47 PM
 #77

I am posting chip specs and pricing shortly and will include our best estimates for hashing power for the first production orders of the Chips at least.
interested, and excited to see chip specs and pricing

Given the technology, I'm looking at the BlockErupter as the comparable for benchmarking purposes, although I'm also expecting 'anticipated' figures in early reports - as we're not discussing production chips yet.

Posting anticipated figures shortly. We are comparing our chips primarily to Bitfury/BFL. Though our use of 130 nm density technically is an older technology then both of these competitors.
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July 29, 2013, 08:21:24 PM
 #78

Posting anticipated figures shortly. We are comparing our chips primarily to Bitfury/BFL. Though our use of 130 nm density technically is an older technology then both of these competitors.

This was my reason for thinking it might be worthy to compare to Asicminer's chips, as they are also on 130nm and have a similar operational plan with in-house NRE, etc. Given that we have some sense of AM financials (unlike BFL and BitFury) this also would help for providing a comparable on the expenditures side.

TheSwede75
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July 29, 2013, 08:26:32 PM
 #79

Posting anticipated figures shortly. We are comparing our chips primarily to Bitfury/BFL. Though our use of 130 nm density technically is an older technology then both of these competitors.

This was my reason for thinking it might be worthy to compare to Asicminer's chips, as they are also on 130nm and have a similar operational plan with in-house NRE, etc. Given that we have some sense of AM financials (unlike BFL and BitFury) this also would help for providing a comparable on the expenditures side.

Generally I would say that you are correct, except for chip performance and price per GH/s.

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July 29, 2013, 08:39:25 PM
 #80

Executive summary and expected chip specs/cost posted to first-post.
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