Now seeking investors for BitCorp Mining Company [Now pushing 40 GH/s!]

[yochdog]

Final numbers are in, and they did not change:

Production:  451.39
Expenses:    300.00 (should be last month of excessive expenses)
Free BTC:    151.39


GOOD NEWS!

We are now listed on GLBSE, and I we can transfer current shareholders to that platform if they desire.  Head on over and open an account, then get in touch with us with your username so we can transfer the assets. 

Ticker symbol is:  BTCMC

Glad to see you guys are still going strong with this. And now that you are on GLBSE I intend to purchase some shares in your company.

Cheers

Thanks buddy!  Good to hear. 

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[Sukrim]

Why these huge share prices and not issuing more shares to increase liquidity?! Also you pay out these 0.125 BTC/month which would equal ~6 MH/s PPS per share. You claim to have 23.5 GH/s for 200 shares though - that would mean ~117 MH/s per share(!). Where does the income for the ~110 MH/s per share go?

Also I'd love to buy some shares, but if possible from the company itself, not just someone looking for a quick profit.

[yochdog]

Why these huge share prices and not issuing more shares to increase liquidity?! Also you pay out these 0.125 BTC/month which would equal ~6 MH/s PPS per share. You claim to have 23.5 GH/s for 200 shares though - that would mean ~117 MH/s per share(!). Where does the income for the ~110 MH/s per share go?

Also I'd love to buy some shares, but if possible from the company itself, not just someone looking for a quick profit.

Well, being students of finance by trade, we believe that the underlying fundamentals matter, not share count.  We are considering a share split because so many people seem to care about price, despite meaning nothing in terms of return on investment. 

The excess production has been funding aggressive expansion for the last several months.  We have gone from 18,000 MH/s to nearly 30,000 MH/s.  That takes some serious money, hence the low payout.  Now that our build-out is nearly complete, more of the production is free for dividends.  This is why we plan on aggressively increasing the payout in the next 30-60 days. 

Make sense? 

[Indemnified]

Re. the stock split, I would be stoked if you go ahead with that.


Re. having shares on GLBSE, I find their "captcha" intolerable. Can sometimes go 50 attempts without success in logging on. And customer service is nil - there was no response to my e-mails about the captcha

[rjk]

Re. having shares on GLBSE, I find their "captcha" intolerable. Can sometimes go 50 attempts without success in logging on. And customer service is nil - there was no response to my e-mails about the captcha

I haven't had issues with it, but some have mentioned that you may need to wait a few seconds after entering it before clicking the button to continue. No idea why.

[yochdog]

UPDATE

We have a good idea of what our May production will be, and all I can say is "wow". 

We are going to have gross proceeds of nearly 600 BTC, absolutely smashing our expectations.  We will get final numbers in the next week or so.

The stock split will occur tonight, and dividends will also be going out later today. 

If you have any concerns, please let us know. 

And PLEASE start trading on GLBSE.....we need to get some volume going.  Symbol is BTCMC. 

[yochdog]

Dividends have been paid for May.

the rate was .015 BTC per share (formerly .15 BTC, prior to stock split) 

[DeaDTerra]

Dividends have been paid for May.

the rate was .015 BTC per share (formerly .15 BTC, prior to stock split) 

How does this share split work for us on GLBSE? Should I send you my shares and you send 10x back or how does this work?
//DeaDTerra

[yochdog]

Dividends have been paid for May.

the rate was .015 BTC per share (formerly .15 BTC, prior to stock split) 

How does this share split work for us on GLBSE? Should I send you my shares and you send 10x back or how does this work?
//DeaDTerra

DeadTerra, I already transferred your newly issued shared to your account.....you should have the exact same ownership percentage as you did before.  Simply take your new total divided by 10,000 for verification.

Thanks! 

[DeaDTerra]

Dividends have been paid for May.

the rate was .015 BTC per share (formerly .15 BTC, prior to stock split) 

How does this share split work for us on GLBSE? Should I send you my shares and you send 10x back or how does this work?
//DeaDTerra

DeadTerra, I already transferred your newly issued shared to your account.....you should have the exact same ownership percentage as you did before.  Simply take your new total divided by 10,000 for verification.

Thanks! 

Okay thank you very much for the smooth and fast procedure
//DeaDTerra

[yochdog]

Attention all current shareholders:


If you could, please setup an account on GLBSE and then ask us to transfer your shares over.  Going forward, it is going to be very cumbersome to pay dividends on GLBSE as well as to holders not holding their shares there.

Basically, we would have to pay every holder twice.....once on GLBSE, then transfer the dividend again to your individual addresses for the shares held in trust.  

You can either PM us with your GLBSE account name, or e-mail us at Bitcorpmining@gmail.com


EDIT:  Front page has been updated with current financials, expansion plans, as well as info on our NEW location. 

May financials will be posted soon.

[speeder]

Yay hello!

I am one of the original investors...

What happened to my shares? (And how I figure to where I sent my dividends???)

Also, anyone know how to ressurect my GLBSE account? (I used the very first version of GLBSE when you had lots of keys and signing and whatnot)

[yochdog]

Yay hello!

I am one of the original investors...

What happened to my shares? (And how I figure to where I sent my dividends???)

Also, anyone know how to ressurect my GLBSE account? (I used the very first version of GLBSE when you had lots of keys and signing and whatnot)

This was resolved through PM.....just fyi

[speeder]

Indeed it was!

Except the GLBSE part... (I made a new account, my old one I am failing to recover, need Nefario to return)

[Indemnified]

Yochdog:

Just in case GLBSE were to ever go offline or be otherwise out of commission for whatever reason, do you maintain a constantly updated list of the beneficial owners of BTCMC shares so that you could continue to distribute dividends?

With the high mortality of bitcoin enterprises (bitcoinca,Tradehii, etc.) I hope that you have a pre-emptive backup plan for the security of your shreholders. No matter how secure BTCMC itself is, the GLBSE platform potentially has hacker or other vulnerabilities.

[yochdog]

Yochdog:

Just in case GLBSE were to ever go offline or be otherwise out of commission for whatever reason, do you maintain a constantly updated list of the beneficial owners of BTCMC shares so that you could continue to distribute dividends?

With the high mortality of bitcoin enterprises (bitcoinca,Tradehii, etc.) I hope that you have a pre-emptive backup plan for the security of your shreholders. No matter how secure BTCMC itself is, the GLBSE platform potentially has hacker or other vulnerabilities.

Unfortunately at this point I do not.  When I administered the share ownership on my own, I obviously mantained such information.  With trading now taking place between 3rd parties without my involvement, I have no right to that information. 

I am willing to ask Nefario to provide it, but I am doubtful he would oblidge out of privacy concerns. 

I understand your concern, and obviously it is a weakness at the moment. 

[Indemnified]

Yochdog:

Just in case GLBSE were to ever go offline or be otherwise out of commission for whatever reason, do you maintain a constantly updated list of the beneficial owners of BTCMC shares so that you could continue to distribute dividends?

With the high mortality of bitcoin enterprises (bitcoinca,Tradehii, etc.) I hope that you have a pre-emptive backup plan for the security of your shreholders. No matter how secure BTCMC itself is, the GLBSE platform potentially has hacker or other vulnerabilities.

Unfortunately at this point I do not.  When I administered the share ownership on my own, I obviously mantained such information.  With trading now taking place between 3rd parties without my involvement, I have no right to that information. 

I am willing to ask Nefario to provide it, but I am doubtful he would oblidge out of privacy concerns. 

I understand your concern, and obviously it is a weakness at the moment. 

Can you think of any possibilities for mitigating this (unnecessary?) risk factor?

[Indemnified]

Yochdog:

Just in case GLBSE were to ever go offline or be otherwise out of commission for whatever reason, do you maintain a constantly updated list of the beneficial owners of BTCMC shares so that you could continue to distribute dividends?

With the high mortality of bitcoin enterprises (bitcoinca,Tradehii, etc.) I hope that you have a pre-emptive backup plan for the security of your shreholders. No matter how secure BTCMC itself is, the GLBSE platform potentially has hacker or other vulnerabilities.

Unfortunately at this point I do not.  When I administered the share ownership on my own, I obviously mantained such information.  With trading now taking place between 3rd parties without my involvement, I have no right to that information. 

I am willing to ask Nefario to provide it, but I am doubtful he would oblidge out of privacy concerns. 

I understand your concern, and obviously it is a weakness at the moment. 

Can you think of any possibilities for mitigating this (unnecessary?) risk factor?

Hey Yochdog:

Where do your shareholder stand? Will you be qable to distribute the next dividend?

[Indemnified]

Yochdog:

Just in case GLBSE were to ever go offline or be otherwise out of commission for whatever reason, do you maintain a constantly updated list of the beneficial owners of BTCMC shares so that you could continue to distribute dividends?

With the high mortality of bitcoin enterprises (bitcoinca,Tradehii, etc.) I hope that you have a pre-emptive backup plan for the security of your shreholders. No matter how secure BTCMC itself is, the GLBSE platform potentially has hacker or other vulnerabilities.

Unfortunately at this point I do not.  When I administered the share ownership on my own, I obviously mantained such information.  With trading now taking place between 3rd parties without my involvement, I have no right to that information. 

I am willing to ask Nefario to provide it, but I am doubtful he would oblidge out of privacy concerns. 

I understand your concern, and obviously it is a weakness at the moment. 

Can you think of any possibilities for mitigating this (unnecessary?) risk factor?

Hey Yochdog:

Where do your shareholder stand? Will you be qable to distribute the next dividend?

Unfortunately no.

I have heard nothing from Nefario.  Until that is resolved I am afraid there is no way to know who owns what. 

I should have just remained private.....

May I at least assume that you will not be sending dividends to GLBSE and will rather hold or reinvest them until an equitable solution emerges?

[Indemnified]

Hey Yochdog:

Can we get a statement of October operating results and balance statement?  And any progress at all on being able to distribute dividends once again? There needs to be a secondary plan beyond "waiting to hear from Nefario", don't you agree?