[LABCOIN] IPO [BTCT.CO] - Details/FAQ and Discussion (ASIC dev/sales/mining)

[labcoin]

A Labcoin appears just as the price tanks. Haven't we seen that before?

Also, where's the million shares?

Some amounts of shares were used as payouts for team members, including theSwede.

[redbeans2012]

29 September update

We took the decision to outsource the troubleshooting  and final touches of the mining boards to an external party.
Delivery of the finalized hardware will take place before 15 October.
All the informations that are being posted are totally made up and there's no direct connection between Labcoin and the people mentioned.
Labcoin operation is not a scam, we are struggling with technical difficulties but still mining with our hardware and paying dividends.
As  promised, as soon hardware get delivered we will bring online the full mining power and dividend payments will reflect this.
We are still holding our labcoin shares on btct.co and still plan on transferring to bitfunder, this process though has  slowed down due to their strict requirements and all accusations being thrown at us are not helping.
We ask everyone to keep calm and avoid spreading false informations.

How do you explain the fact that your CEO knows nothing about what is going on and is denying all involvement with your company?

Mr. Tatti is who registered the company initially but is not involved directly with the project.

THEN WHO IS?

+1

[dexX7]

Mr. Tatti is who registered the company initially but is not involved directly with the project.

According to TheSeven and a transcript [1] there is a connection between Labcoin and Alessia Tatti who is allegedly connected to Alberto Armandi who is a well known scammer [2][3].

[1] http://pastebin.com/1Rq8r4UW
[2] https://bitcointalk.org/index.php?topic=83794.0
[3] http://codinginmysleep.com/lessons-learned-from-the-bdt-fiasco/)

[szmarco]

29 September update

We took the decision to outsource the troubleshooting  and final touches of the mining boards to an external party.
Delivery of the finalized hardware will take place before 15 October.
All the informations that are being posted are totally made up and there's no direct connection between Labcoin and the people mentioned.
Labcoin operation is not a scam, we are struggling with technical difficulties but still mining with our hardware and paying dividends.
As  promised, as soon hardware get delivered we will bring online the full mining power and dividend payments will reflect this.
We are still holding our labcoin shares on btct.co and still plan on transferring to bitfunder, this process though has  slowed down due to their strict requirements and all accusations being thrown at us are not helping.
We ask everyone to keep calm and avoid spreading false informations.

How do you explain the fact that your CEO knows nothing about what is going on and is denying all involvement with your company?

Mr. Tatti is who registered the company initially but is not involved directly with the project.

Could you tell us what the requirements of Bitfunder are?

[kingcrimson]

29 September update

We took the decision to outsource the troubleshooting  and final touches of the mining boards to an external party.
Delivery of the finalized hardware will take place before 15 October.
All the informations that are being posted are totally made up and there's no direct connection between Labcoin and the people mentioned.
Labcoin operation is not a scam, we are struggling with technical difficulties but still mining with our hardware and paying dividends.
As  promised, as soon hardware get delivered we will bring online the full mining power and dividend payments will reflect this.
We are still holding our labcoin shares on btct.co and still plan on transferring to bitfunder, this process though has  slowed down due to their strict requirements and all accusations being thrown at us are not helping.
We ask everyone to keep calm and avoid spreading false informations.

How do you explain the fact that your CEO knows nothing about what is going on and is denying all involvement with your company?

Mr. Tatti is who registered the company initially but is not involved directly with the project.

http://pastebin.com/1Rq8r4UW
"delaria: my name is Alessia Tatti"
/thread

[ShroomsKit]

A Labcoin appears just as the price tanks. Haven't we seen that before?

Also, where's the million shares?

Some amounts of shares were used as payouts for team members, including theSwede.

1 more tip. Fire that clown. He just makes things worse.

[labcoin]

29 September update

We took the decision to outsource the troubleshooting  and final touches of the mining boards to an external party.
Delivery of the finalized hardware will take place before 15 October.
All the informations that are being posted are totally made up and there's no direct connection between Labcoin and the people mentioned.
Labcoin operation is not a scam, we are struggling with technical difficulties but still mining with our hardware and paying dividends.
As  promised, as soon hardware get delivered we will bring online the full mining power and dividend payments will reflect this.
We are still holding our labcoin shares on btct.co and still plan on transferring to bitfunder, this process though has  slowed down due to their strict requirements and all accusations being thrown at us are not helping.
We ask everyone to keep calm and avoid spreading false informations.

How do you explain the fact that your CEO knows nothing about what is going on and is denying all involvement with your company?

Mr. Tatti is who registered the company initially but is not involved directly with the project.

How about Alessia Tatti?

No involvement at all?

She was initially helping with coordinating hiring the team but left shortly after we started development.

[dwdoc]

What are you hashing with? How about a picture or video of your chips and boards even if they are not working properly?  

ps-thanks for hanging around and answering some questions

[kingcrimson]

29 September update

We took the decision to outsource the troubleshooting  and final touches of the mining boards to an external party.
Delivery of the finalized hardware will take place before 15 October.
All the informations that are being posted are totally made up and there's no direct connection between Labcoin and the people mentioned.
Labcoin operation is not a scam, we are struggling with technical difficulties but still mining with our hardware and paying dividends.
As  promised, as soon hardware get delivered we will bring online the full mining power and dividend payments will reflect this.
We are still holding our labcoin shares on btct.co and still plan on transferring to bitfunder, this process though has  slowed down due to their strict requirements and all accusations being thrown at us are not helping.
We ask everyone to keep calm and avoid spreading false informations.

How do you explain the fact that your CEO knows nothing about what is going on and is denying all involvement with your company?

Mr. Tatti is who registered the company initially but is not involved directly with the project.

How about Alessia Tatti?

No involvement at all?

She was initially helping with coordinating hiring the team but left shortly after we started development.

Why is her skype name in your profile?
Idiot
You left too many loose ends.

[dhenson]

29 September update

We took the decision to outsource the troubleshooting  and final touches of the mining boards to an external party.
Delivery of the finalized hardware will take place before 15 October.
All the informations that are being posted are totally made up and there's no direct connection between Labcoin and the people mentioned.
Labcoin operation is not a scam, we are struggling with technical difficulties but still mining with our hardware and paying dividends.
As  promised, as soon hardware get delivered we will bring online the full mining power and dividend payments will reflect this.
We are still holding our labcoin shares on btct.co and still plan on transferring to bitfunder, this process though has  slowed down due to their strict requirements and all accusations being thrown at us are not helping.
We ask everyone to keep calm and avoid spreading false informations.

How do you explain the fact that your CEO knows nothing about what is going on and is denying all involvement with your company?

Mr. Tatti is who registered the company initially but is not involved directly with the project.

http://pastebin.com/1Rq8r4UW
"delaria: my name is Alessia Tatti"
/thread

Care to try again Labcoin?  We need truth, all of it, and if you just disappear and stop responding (like usual) you aren't going to win back any investors.

[Duffer1]

29 September update

We took the decision to outsource the troubleshooting  and final touches of the mining boards to an external party.
Delivery of the finalized hardware will take place before 15 October.
All the informations that are being posted are totally made up and there's no direct connection between Labcoin and the people mentioned.
Labcoin operation is not a scam, we are struggling with technical difficulties but still mining with our hardware and paying dividends.
As  promised, as soon hardware get delivered we will bring online the full mining power and dividend payments will reflect this.
We are still holding our labcoin shares on btct.co and still plan on transferring to bitfunder, this process though has  slowed down due to their strict requirements and all accusations being thrown at us are not helping.
We ask everyone to keep calm and avoid spreading false informations.

How do you explain the fact that your CEO knows nothing about what is going on and is denying all involvement with your company?

Mr. Tatti is who registered the company initially but is not involved directly with the project.

How about Alessia Tatti?

No involvement at all?

She was initially helping with coordinating hiring the team but left shortly after we started development.

WHO IS YOUR CURRENT TEAM?  WHO IS INVOLVED WITH 1st generation gear?  WHO IS INVOLVED WITH 2nd generation gear?

WHAT IS THE NATURE OF THE PROBLEM WITH THE HARDWARE?!

[dexX7]

Some data on the shares:

Announcement from Labcoin:

News

Regarding shares owned by the Labcoin founders and developers.

Due to inquiries LABCOIN has received from investors, the founders and developers involved in the LABCOIN project has decided to voluntarily lock in 75% of all shares owned by the LABCOIN core team for 12-months.

This means that no founder or developer owning shares in LABCOIN will sell an excess of 25% of their shares for at least 365 days from today's date.

This is being publicly announced to set to rest any concern that the LABCOIN team has any interest in liquidating their holdings in the project.

Q: Why not lock in 100%?
A: Simply because we feel that it is only fair to allow the members of the LABCOIN team that wishes to sell smaller portions of their ownership should they need some Bitcoin for any unforeseen expense during the first year of operations.

Old response from burnside:

Over 85% of the 3 million shares have not left a specific account I know is held in the Labcoin name.  The other 15% could easily be held in any of the next few top shareholders, but I am not privy to who is who without some assistance.

New response from burnside:

I see ~2 million currently held in their account.  I do not know however if some were sold, or if they were simply transferred to another account that is also a holding account. So this is inconclusive information.

[bigdude]

29 September update

We took the decision to outsource the troubleshooting  and final touches of the mining boards to an external party.
Delivery of the finalized hardware will take place before 15 October.
All the informations that are being posted are totally made up and there's no direct connection between Labcoin and the people mentioned.
Labcoin operation is not a scam, we are struggling with technical difficulties but still mining with our hardware and paying dividends.
As  promised, as soon hardware get delivered we will bring online the full mining power and dividend payments will reflect this.
We are still holding our labcoin shares on btct.co and still plan on transferring to bitfunder, this process though has  slowed down due to their strict requirements and all accusations being thrown at us are not helping.
We ask everyone to keep calm and avoid spreading false informations.

How do you explain the fact that your CEO knows nothing about what is going on and is denying all involvement with your company?

Mr. Tatti is who registered the company initially but is not involved directly with the project.

How about Alessia Tatti?

No involvement at all?

She was initially helping with coordinating hiring the team but left shortly after we started development.

So basically all the detective work was right ... And your only play now is to say yes, it is true, but they have left now and only us non-scammers are left.

Yeah, riiiight !!!

[VolanicEruptor]

A Labcoin appears just as the price tanks. Haven't we seen that before?

Also, where's the million shares?

Some amounts of shares were used as payouts for team members, including theSwede.

scared to reply pm or what? because you know what the answer is 

Please avoid PMs, everyone should see the conversation not just you..

[Bitcycle]

What are you hashing with? How about a picture or video of your chip and boards even if they are not working properly? 

ps-thanks for hanging around and answering some questions

A picture really would help.

Stupid, I know, but it would.

[ishkur]

A Labcoin appears just as the price tanks. Haven't we seen that before?

Also, where's the million shares?

Some amounts of shares were used as payouts for team members, including theSwede.

Some shares? Dude 1 fucking million are missing.  That's 1/3 of your company's shares

And to top it off they are suppose to be locked

Edit 1/3 of what your suppose to hold/keep

[rainforst001]

do you have some solution to protect your shareholders?like buyback?

[bigdude]

I just find it absolutely amazing, that every time there is an 'update', it's a complete stuff up, and more bad information is released, and the share price tanks. Just amazing.

Now 1/3rd of what should have been locked shares have disappeared.

.000001 here we come.

[dhenson]

The most frustrating thing is that he doesn't stick around to answer any questions.  You owe us that much at least.

[physalis]

Stupid, I