ORIGINAL POST: (
http://www.reddit.com/r/BitcoinStocks/comments/1psd67/new_asset_spring_hill_incorporated_trust_shit/)
What Happened to SH.IT?After a landmark IPO in November 2013, Spring Hill Incorporated Trust successfully raised enough funds to begin operation. Spring Hill wasn't just a failed IPO: [SH.IT] happened. All unbought shares were returned to armedmilitia, who now controls 2,000,000 shares. The expected difficulty increase was greater than expected, but the mine ran successfully into 2014, until it was decommissioned by a unanimous vote of all shareholders. Since then, Spring Hill has been inactive.
Recent News:Spring hill has had a long and proven track record with its shareholders and suppliers. In July 2014, our CEO, on behalf of SH.IT, secured a major deal with a small-time mining distributor. Source:
https://bitcointalk.org/index.php?topic=684252.0. A load of [SH.IT] hardware was sent to Operations, and it has been reported to be functional. The reputation of Spring Hill, along with its purchasing power, contributed to this deal. The purchase more than doubles the IPO hashrate, at 1/3 of price.
Where are we located?Spring Hill Investment Trust shares property with another private entity in Canada. This lowers rent to affordable levels, in an area with low electricity. Spring Hill is looking into purchasing property on a stream leading into the St Laurence River--Up [SH.IT]'s creek, electricity is cheaper and property costs are lower. This may require a third round in the future.
Why do we Need Another Round?The July mining deal fully depleted Spring Hill's bitcoin reserve. The hardware, although cheap, was shipped from an overseas supplier, and a miscommunication arose over damaged/missing cooling equipment. The supplier accused [SH.IT] of hitting the fans. Long story short, Spring Hill requires additional funds in order to procure new cooling equipment before going online. The hardware has already arrived, and our shipping dpt is willing to provide proof upon request.
Second Public Offering:The company is currently divided into 2,000,000 shares, the plurality of which still being held by company employees. Less than 20% of the company is owned by outside investors. A maximum of 500,000 shares will be issued at this IPO, for a cost of 100 bits (0.0001BTC) per share. Shares will have no voting rights. The IPO is a go regardless of how many shares are purchased, all remaining shares will return to the control of ArmedMilitia. The issuer maintains the right to recall all shares at any point in time for any price. To purchase a share, send funds to 1HAmrBLXo4jAe67kmXvj4gnKCg7PGPUKdo, and then send a signed email message to
springhillincorporatedtrust@outlook.com[1] , including your bitcoin address for dividends. You will then be placed on the [SH.IT] list of investors.
After the landmark July deal, each share will represent approximately 5000 hash/s. Feel free to leave comments or concerns.
