[HAVELOCK] PETAMINE - 1,150 TH/S HASH RATE (1GH/S per Unit)

[cryptx]

In my opinion, Cryptx is making a lot of changes without the consent of shareholders.

The vote is only for a move to Havelock Investment, it doesn't state the freeze of sales bij shareholders.
The approved hardware sale was not up to the order that was initialy approved by shareholders.

December date has been adapted to January without approval, and so on and so on.

If you look at the initial contract and the version that it is today, than you can only notice that the 2 couldn't be more different than now.

Al those changes could be impacting the sales of the stock, moving it to a new site wouldn't change that.

The original contract is different from the current situation, that’s correct. The original contract stated 1 GH/s per shares of Cointerra’s mining equipment.

Instead now we have already paid 915 BTC in dividends + the mine will start with a minimum of 150 TH or minimum 2.4 GH/s per share. In addition to that we have also secured a reinvestment agreement for the end of January.

The delivery date of the Cointerra systems is out of our control. We have a paid order for the earliest batch of Cointerra systems. There is nothing more we can do about that.

[cryptx]

Let me elaborate a bit about current situation and strategies.

Bitcoin mining is a very fast changing business. This means you have to adapt your strategies very fast and often. If you are not flexible about this, you will not make it. We have made a lot of changes to the original set-up and we did all these in the benefit of the PETA-MINE’s shareholders.

If we want the PETA-MINE to succeed and to grow to the biggest public mining operation, we have to make decisions and close contracts months in advance. We have already made arrangements which make it possible to deploy the extra 2.4 GH/s for every share that is sold in the IPO of the last 36,504 shares. If we did not make these contracts in advance, we would have to search the market for pre-orders at the time of the IPO at a much higher cost and at a much later delivery date.

CryptX has already pre-financed this contract for expansion and the contract for reinvestment. We will use the funds of the IPO to pay of this “loan” and to be able to close and make down payments on new contracts of reinvestment. If we do not take this action now, at the time the reinvestment funds will be available from mining activities (Jan/Feb) there will be no possibility to reinvest immediately. If we did not pre-finance the end of Jan reinvestment up to 100 TH/s, there would be no devices to reinvest in at the time we collect the reinvestment BTC.

We need to stay ahead of the game to succeed in the fast world of Bitcoin mining.

[JstnPwll]

Let me elaborate a bit about current situation and strategies.

Bitcoin mining is a very fast changing business. This means you have to adapt your strategies very fast and often. If you are not flexible about this, you will not make it. We have made a lot of changes to the original set-up and we did all these in the benefit of the PETA-MINE’s shareholders.

If we want the PETA-MINE to succeed and to grow to the biggest public mining operation, we have to make decisions and close contracts months in advance. We have already made arrangements which make it possible to deploy the extra 2.4 GH/s for every share that is sold in the IPO of the last 36,504 shares. If we did not make these contracts in advance, we would have to search the market for pre-orders at the time of the IPO at a much higher cost and at a much later delivery date.

CryptX has already pre-financed this contract for expansion and the contract for reinvestment. We will use the funds of the IPO to pay of this “loan” and to be able to close and make down payments on new contracts of reinvestment. If we do not take this action now, at the time the reinvestment funds will be available from mining activities (Jan/Feb) there will be no possibility to reinvest immediately. If we did not pre-finance the end of Jan reinvestment up to 100 TH/s, there would be no devices to reinvest in at the time we collect the reinvestment BTC.

We need to stay ahead of the game to succeed in the fast world of Bitcoin mining.

I agree with everything stated here. If the operation was bogged down in democratic protocol and everyone was 100% in agreement before any actions were undertaken, then we'd lose a large sum of money and our investment would be left in the dust.  While allowing CryptX the latitude to make a few executive decisions does invite more risk, it also widens our opportunities and keeps the project alive and adaptable.  Even though CryptX has taken some liberties, I personally think they have done a great job at keeping us informed on what is happening and why, and submitted a good portion of the decisions for change to us for a vote.  I am satisfied thus far.

[altoidmintz]

I personally think Peta-mine is going to make tons of money so I have better things to do then whine about technicalities...I'm busy buying more shares!

[hephaist0s]

I personally think Peta-mine is going to make tons of money so I have better things to do then whine about technicalities...I'm busy buying more shares!

I also still feel really good about how this is going. Even though cryptx has made some changes with short notice, they have been in the best interest of the mine and the investors. To some extent, I'm invested here exactly so that I can put some of my trust in someone else to make good decisions on my behalf. I have my own mining gear which I can control 100% -- and worry about all the time, and when I fail to bet on the right manufacturer or place the right orders I can blame myself 100%. I'm invested in a farm to benefit from someone else's management.

I'm not saying there shouldn't be accountability, there certainly should, but I think the balance here between shareholder input and management initiative has been good.

[keemao]

Nonbelivers; please stop selling chaep shares... you just shoot your own foot...

[Foebar]

Let me elaborate a bit about current situation and strategies.

Bitcoin mining is a very fast changing business. This means you have to adapt your strategies very fast and often. If you are not flexible about this, you will not make it. We have made a lot of changes to the original set-up and we did all these in the benefit of the PETA-MINE’s shareholders.

If we want the PETA-MINE to succeed and to grow to the biggest public mining operation, we have to make decisions and close contracts months in advance. We have already made arrangements which make it possible to deploy the extra 2.4 GH/s for every share that is sold in the IPO of the last 36,504 shares. If we did not make these contracts in advance, we would have to search the market for pre-orders at the time of the IPO at a much higher cost and at a much later delivery date.

CryptX has already pre-financed this contract for expansion and the contract for reinvestment. We will use the funds of the IPO to pay of this “loan” and to be able to close and make down payments on new contracts of reinvestment. If we do not take this action now, at the time the reinvestment funds will be available from mining activities (Jan/Feb) there will be no possibility to reinvest immediately. If we did not pre-finance the end of Jan reinvestment up to 100 TH/s, there would be no devices to reinvest in at the time we collect the reinvestment BTC.

We need to stay ahead of the game to succeed in the fast world of Bitcoin mining.

Ok let's rock this thing in January and make a lot of dividends

[altoidmintz]

Nonbelivers; please stop selling chaep shares... you just shoot your own foot...

I disagree.

Please sell all of your shares. As low as possible.

Cheaper for me

[webbrowser]

If we want the PETA-MINE to succeed and to grow to the biggest public mining operation, we have to make decisions and close contracts months in advance. We have already made arrangements which make it possible to deploy the extra 2.4 GH/s for every share that is sold in the IPO of the last 36,504 shares. If we did not make these contracts in advance, we would have to search the market for pre-orders at the time of the IPO at a much higher cost and at a much later delivery date.

?? In that case, perhaps the IPO should be considered over.  You have effectively bought up the remaining shares yourselves, and you can choose to sell them at whatever price.

[supermono]

We do have to halt trading, so people can transfer their shares to our account. This transfer has to be done because we do not have a shareholders list. With the transfer, we know the amount of shares per e-mail address attached to the account. The user has to make a new account with Havelock, so we can transfer the shares to his new account.

The last time I checked (which was mid-October), Cryptostocks did not have a feature for users to transfer shares to other users/accounts. Has this feature been added in the last few weeks?

[zulover]

OK its the 9th tomorrow, so do we transfer our shares to cryptx account or does he do it on our behalf? and how do we doit, a short guide would be helpful.

[mruiter]

I Have not received any info on this.
Whats the status !

[Mapuo]

OK its the 9th tomorrow, so do we transfer our shares to cryptx account or does he do it on our behalf? and how do we doit, a short guide would be helpful.

+1

[ujka]

The last time I checked (which was mid-October), Cryptostocks did not have a feature for users to transfer shares to other users/accounts. Has this feature been added in the last few weeks?

Found this on Cryptostocks Help page:

Transfer of shares
It is possible to transfer shares to another user. The share owner must enter the email address of the recipient for the shares to be transferred. A fee applies. Note that such transfers are irreversable. The purpose of such share transfers is to facilitate payments for shares in currencies other than the exchange is supporting. Take note that the exchange cannot be held responsible for any monetary transfers that are not executed via the exchange's services. The transfer of shares can be done on the "My Shares" tab of the "Project" menu.

[zulover]

Still not clear what cryptx wants

[cryptx]

Instructions about share transfer will follow very soon

[cryptx]

UPDATE SHARE TRANSFER TO HAVELOCK:

We have asked the Cryptostocks administrator for a full shareholders list. If we are unable to obtain such a list, the shares have to be transferred to our account manually.

In case a manual transfer is needed, we will pay for the transfer fee.

Shareholders can already make an account at Havelock with the same e-mail address they used on Cryptostocks.

We will keep you informed.

[cryptx]

UPDATE 09/12/2013:

At 18:00 GMT the IPO of the remaining 36,504 shares will start on Havelock Investment.

More info can be found here:
https://www.havelockinvestments.com/fund.php?symbol=PETA

[BTC-Market]

Will we be paid based on 2.4gh/share in perpetuity? Or will it increase as the money is reinvested in growing the hashing power?

[cryptx]

You can find the revenue forecasts here:
https://docs.google.com/spreadsheet/ccc?key=0AjI5bgsiFJAidFBsclpVM0FSdFZNalRGNnVlc0VxSGc&usp=drive_web#gid=1

The mine will expand and the amount of GH/s per share will increase at the same rate.