To be fair, I think it is understandable that a start-up, that hasn't even opened doors to the public yet, hasn't provided full financial reports yet.
Where I come from IPOs are followed by reports. Because where I am from people act responsibly and transparently.
And then those reports are followed by more reports, each and every single month, no exceptions, no delays.
And then those reports are made in a correct format.
And so on.
Personally, I feel any financial report of the moment would be marginally useful, as it could look totally different next week anyway, and none of the main revenue streams are in place yet.
This is exactly WHY financial reports are useful. Because reality changes, and the reports allow one to evaluate that change. What did you think reports were for?
I'm also not convinced that the ASICMINER story would have played out much differently had they listed on MPEx.
At some point one will have to appreciate the difference between ifs, butts, and naked reality. Saying that the milk on the table would have spilled just as much as the milk that spilled is entirely unwarranted in the discussion.
While I personally would not rule out MPEx as a place to list an offering, I do wonder if the IPVO sales requirements would have been successfully met there anyway.
Perhaps the mistake here is to imagine that if your offering does not meet MPEx standards, then it's a legitimate, allowable or even sane offering. This misthinking has to change, for the sake of finally breaking away from the cycle of
the story of your loss.
