[796.com] RedStarMining.com - the oldest public mining security [15.0(TH/s)]

[OgNasty]

Well my 25% ownership of all shares so far sold vote for the new company.  Also as CEO and administrator of over 50% of total company shares which are still unsold that would keep full control of any decision.

Plus who is selling shares at 2.9999999BTC are they just trying to get out of the investment or slow the IPO down 

See above.

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[matthewh3]

Well my 25% ownership of all shares so far sold vote for the new company.  Also as CEO and administrator of over 50% of total company shares which are still unsold that would keep full control of any decision.

Plus who is selling shares at 2.9999999BTC are they just trying to get out of the investment or slow the IPO down 

See above.

Well if they just wanted out they could of waited until I'm churning 2.5GH/s out and paying dividends and made a profit.  Seems like they are just trying to slow down the company's IPO at their own cost 

[matthewh3]

1900 total shares available

795 shares total sold, those 795 shares can vote in motions

Well as a private investor and CEO I'm in control of well over 70% of all shares so have a big say in the vote.  On another note BFL have refunded me so I will tell you once the funds clear on on my debit card and when the new board has been paid for also when its shipped.  Although with me acting as UK/EU reseller and him being my friend amongst offer things we should get a good offer and a fast delivery.  He has promised to ship to me within three weeks before the 1st of March.


13 Mar 2012 23:06:49 GMT
Transaction ID: 6MS17905HH241800J
Dear Matthew Holt,
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Refund to Visa/Delta/Electron Card XXXX-XXXX-XXXX-3044:   £449.15 GBP

[MPOE-PR]

Seems like they are just trying to slow down the company's IPO at their own cost

No, seems like part of your original investors have no confidence in you and are trying to cut loose and get out even at a loss. This may or may not be due to your obvious conflict of interest you detailed above. If you want to be your mate's sales rep that's fine and dandy, but force selling his product to a public company is south of the equator so to speak.

[matthewh3]

Seems like they are just trying to slow down the company's IPO at their own cost

No, seems like part of your original investors have no confidence in you and are trying to cut loose and get out even at a loss. This may or may not be due to your obvious conflict of interest you detailed above. If you want to be your mate's sales rep that's fine and dandy, but force selling his product to a public company is south of the equator so to speak.

np the purchase is moving faster for a board with the same MH/s at half the wattage.  I only used the GLBSE to crowed source to make my plan faster and planned on buying back all listed shares not really planning on a stock market floated company forever otherwise I wouldn't have made much from keeping just 50 shares from 1900 issued?  Although I won't force a take over and buy out if people want to keep their shares I'll keep paying their dividends.

[JL421]

1900 total shares available

795 shares total sold, those 795 shares can vote in motions

Well as a private investor and CEO I'm in control of well over 70% of all shares so have a big say in the vote.  On another note BFL have refunded me so I will tell you once the funds clear on on my debit card and when the new board has been paid for also when its shipped.  Although with me acting as UK/EU reseller and him being my friend amongst offer things we should get a good offer and a fast delivery.  He has promised to ship to me within three weeks before the 1st of March.

No.
Only shares that are not in the issuing account can vote. Period. Those shares do not count in your vote. You only have your 25% to vote with, the other 75% is up to the investors, and I have a feeling they would have said no.

You were in the lineup for that BFL single. It would have come eventually.
Now investors are riding on something they know absolutely nothing about.

OgNasty took a risk with his own money on BFL. He is going to sell those to his mining company. But no company funds were spent on something that couldn't be used within a short period of time. Edited: Read the BFL ship date thread wrong.

If you could have waited until the product was announced, it would have looked better. If you had mentioned something about the product other than what it is supposed to do, it would have looked better.

You blindly took investor money and put it in to something they know nothing about. Any investor in a project has the right to know what is being purchased with their money, unless the contract states otherwise, or in the case of some GLBSE companies, are actually not ownership in the company.

Your investors now own this product, whether or not they want to, they deserve to know what it is, everything about it. Now.

[bulanula]

1900 total shares available

795 shares total sold, those 795 shares can vote in motions

Well as a private investor and CEO I'm in control of well over 70% of all shares so have a big say in the vote.  On another note BFL have refunded me so I will tell you once the funds clear on on my debit card and when the new board has been paid for also when its shipped.  Although with me acting as UK/EU reseller and him being my friend amongst offer things we should get a good offer and a fast delivery.  He has promised to ship to me within three weeks before the 1st of March.

No.
Only shares that are not in the issuing account can vote. Period. Those shares do not count in your vote. You only have your 25% to vote with, the other 75% is up to the investors, and I have a feeling they would have said no.

You were in the lineup for that BFL single. It would have come eventually.
Now investors are riding on something they know absolutely nothing about.

OgNasty took a risk with his own money on BFL when it was announced. Before they started shipping product. He is probably going to sell those to his mining company, and get a nice share back. But no unproven technology was purchased with company funds.

If you could have waited until the product was announced, it would have looked better. If you had mentioned something about the product other than what it is supposed to do, it would have looked better.

You blindly took investor money and put it in to something they know nothing about. Any investor in a project has the right to know what is being purchased with their money, unless the contract states otherwise, or in the case of some GLBSE companies, are actually not ownership in the company.

Your investors now own this product, whether or not they want to, they deserve to know what it is, everything about it. Now.

Well put. Obvious conflict of interest here.

Should have stuck with BFL choice. Does not even understand how voting works ...

Also refuses to give details about YET ANOTHER secret miner that gets over 9000 MHash/s and gets double the efficiency of the BFL.

Not inspiring, to say the least. I am afraid to say that we seem to have been duped yet again, unless some details about the "secret" / "new" board is revealed.

He basically took the decision without any discussion or approval from shareholders. I'm not sure how that is supposed to work when a bought share allows you to vote and nothing else.

Why did you not put up a motion

[matthewh3]

1900 total shares available

795 shares total sold, those 795 shares can vote in motions

Well as a private investor and CEO I'm in control of well over 70% of all shares so have a big say in the vote.  On another note BFL have refunded me so I will tell you once the funds clear on on my debit card and when the new board has been paid for also when its shipped.  Although with me acting as UK/EU reseller and him being my friend amongst offer things we should get a good offer and a fast delivery.  He has promised to ship to me within three weeks before the 1st of March.

No.
Only shares that are not in the issuing account can vote. Period. Those shares do not count in your vote. You only have your 25% to vote with, the other 75% is up to the investors, and I have a feeling they would have said no.

You were in the lineup for that BFL single. It would have come eventually.
Now investors are riding on something they know absolutely nothing about.

OgNasty took a risk with his own money on BFL when it was announced. Before they started shipping product. He is probably going to sell those to his mining company, and get a nice share back. But no unproven technology was purchased with company funds.

If you could have waited until the product was announced, it would have looked better. If you had mentioned something about the product other than what it is supposed to do, it would have looked better.

You blindly took investor money and put it in to something they know nothing about. Any investor in a project has the right to know what is being purchased with their money, unless the contract states otherwise, or in the case of some GLBSE companies, are actually not ownership in the company.

Your investors now own this product, whether or not they want to, they deserve to know what it is, everything about it. Now.

I understand the nerves by potential investors but not by competitors or people selling out.  It's almost midnight here now so won't be answering any more questions until tomorrow now but if your are an investor rest assured its now 2.5GH/s@(17.7MH/s)/W or 50BTC generated from £10 electric.  If your just interested in the new chips wait for the company's announcement and if your just a rival or selling out I'm not even looking for more investment I'll buy all the rest my self plus pay all investors a very healthy dividend.  I may sound like I'm doing poor/bad business but for the second time I have managed to increase profits before production has even began.  Good night.

[matthewh3]

I'm doing poor/bad business but for the second time I have managed to increase profits before production has even began.  Good night.

hmmmmmmmmm

yes, good night

Look I will stay up all night answering your badly quoted quotes by me if you want but it's now 50BTC for £10 electric instead of 50BTC for over £25 of electric.  Just watch this thread -  https://bitcointalk.org/index.php?topic=67887.0

[MPOE-PR]

I only used the GLBSE to crowed source to make my plan faster and planned on buying back all listed shares not really planning on a stock market floated company forever otherwise I wouldn't have made much from keeping just 50 shares from 1900 issued?

There was no vote, I made the decision.  The person or people who undercut the IPO after the price was raised have admitted that they were doing so to make profit, not because of any loss of faith (though there were a few who sold for less than the original price.)  Only 5 shares of the IPO sold at 1 BTC, then the large chunk of shares was put up for .99-ad nauseam.  After a few people bought these shares, buying dried up.  I postulate that this was due to the fact that the money was no longer going towards investment in the company but to someone who was being very clever and playing the system.

Ahh how these fantasy CEOs start sounding alike when they gaze deep inside and are struck by the sudden realisation that the "shareholders" are left on this Earth as God's gift of cash to them personally and no more.

[matthewh3]

I only used the GLBSE to crowed source to make my plan faster and planned on buying back all listed shares not really planning on a stock market floated company forever otherwise I wouldn't have made much from keeping just 50 shares from 1900 issued?

There was no vote, I made the decision.  The person or people who undercut the IPO after the price was raised have admitted that they were doing so to make profit, not because of any loss of faith (though there were a few who sold for less than the original price.)  Only 5 shares of the IPO sold at 1 BTC, then the large chunk of shares was put up for .99-ad nauseam.  After a few people bought these shares, buying dried up.  I postulate that this was due to the fact that the money was no longer going towards investment in the company but to someone who was being very clever and playing the system.

Ahh how these fantasy CEOs start sounding alike when they gaze deep inside and are struck by the sudden realisation that the "shareholders" are left on this Earth as God's gift of cash to them personally and no more.

Look I'm offering even better potential profits now and was already offering potential of the best profits on the GLBSE.  How many shares do you own?  If it's less than 50 I'll buy them all off you at 3.1BTC next week hopefully then you have still profited on my back.

[matthewh3]

The new FPGA company will be going public within two weeks and that's the end of that.

[MPOE-PR]

I'll buy them all off you at 3.1BTC next week hopefully then you have still profited on my back.

Talk is cheap. Put your bid order in at original price for the total of shares outstanding and you have a leg to stand on. Otherwise, you don't.

[matthewh3]

I'll buy them all off you at 3.1BTC next week hopefully then you have still profited on my back.

Talk is cheap. Put your bid order in at original price for the total of shares outstanding and you have a leg to stand on. Otherwise, you don't.

Go away then 

[matthewh3]

I'll buy them all off you at 3.1BTC next week hopefully then you have still profited on my back.

Talk is cheap. Put your bid order in at original price for the total of shares outstanding and you have a leg to stand on. Otherwise, you don't.

There is an order for 1105 shares at 0.3BTC but it wont show as someone is selling bellow that.  If you want me to buy them at 3.1BTC it will have to be a private deal.  Sorry for the confusion.

[MPOE-PR]

At the risk of wasting my time explaining the obvious to the willfully ignorant:

A. The present value of an uncertain future asset is equal to the product of the future value and the chance of all the contingencies actually falling in place the right way. So, if you have 10 BTC in your wallet, that's 10 BTC in your wallet. If you have 11 BTC worth of mining gear that's 90% secure you actually have LESS than 10 BTC in your wallet, you have about 9.9. If you have 50 or 50 000 BTC worth of imaginary mining gear that's 0% secure you have in fact... 0 btc. So your boasts that you have "increased profits before even starting operations" are only making you look ignorant. At best ignorant, otherwise they show you up for a fraud.

B. The conflict of interest is that situation where the same party represents groups or people with divergent interests. In this case, you represent both the investors in this supposed mining venture/fraud and your friend who makes and sells some vague undocumented miner. If you take the shareholder's money (it's not YOUR money by any means) and give it to your friend you've committed what's known as criminal conversion.

The investors didn't put up money so that you can buy your friend's offerings (are you making a commission from him on the sale, btw?). They put it up to buy gpu's. Then you wanted to change the plan, and did so with their approval. Now you want to change it again, without their approval, and for some deal that they can't verify but "is better" because you say so?

Things don't work that way. The only, and I do mean the ONLY honorable way to proceed here is for you to apologize for your ignorance (which is the best case scenario, you're simply ignorant), put up bids on GLBSE for the entire float at the price it was offered (plus a tip, sure, if you feel particularly humble). Let people who want out unwind for a week or two after which take whatever's left and buy this new mystery miner.

Anything else, and I do mean ANYTHING else is simply fraud. Pick your course.

[matthewh3]

At the risk of wasting my time explaining the obvious to the willfully ignorant:

A. The present value of an uncertain future asset is equal to the product of the future value and the chance of all the contingencies actually falling in place the right way. So, if you have 10 BTC in your wallet, that's 10 BTC in your wallet. If you have 11 BTC worth of mining gear that's 90% secure you actually have LESS than 10 BTC in your wallet, you have about 9.9. If you have 50 or 50 000 BTC worth of imaginary mining gear that's 0% secure you have in fact... 0 btc. So your boasts that you have "increased profits before even starting operations" are only making you look ignorant. At best ignorant, otherwise they show you up for a fraud.

B. The conflict of interest is that situation where the same party represents groups or people with divergent interests. In this case, you represent both the investors in this supposed mining venture/fraud and your friend who makes and sells some vague undocumented miner. If you take the shareholder's money (it's not YOUR money by any means) and give it to your friend you've committed what's known as criminal conversion.

The investors didn't put up money so that you can buy your friend's offerings (are you making a commission from him on the sale, btw?). They put it up to buy gpu's. Then you wanted to change the plan, and did so with their approval. Now you want to change it again, without their approval, and for some deal that they can't verify but "is better" because you say so?

Things don't work that way. The only, and I do mean the ONLY honorable way to proceed here is for you to apologize for your ignorance (which is the best case scenario, you're simply ignorant), put up bids on GLBSE for the entire float at the price it was offered (plus a tip, sure, if you feel particularly humble). Let people who want out unwind for a week or two after which take whatever's left and buy this new mystery miner.

Anything else, and I do mean ANYTHING else is simply fraud. Pick your course.

Yeah but you also said this so look so stupid 

Talk is cheap. Put your bid order in at original price for the total of shares outstanding and you have a leg to stand on. Otherwise, you don't.

Also I'm not really that desperate for more investment although it is welcome.  I may be forced to lock this thread and real investors can find me in the company's CoinConnect group http://www.coinconnect.org/groups/profile/13713/red-star-mining or on the company blog http://redstarmining.blogspot.com/ and all real investors can be rest-assured of increased dividends due to us now operating at 2.5GH/s@130W

[labestiol]

Things don't work that way. The only, and I do mean the ONLY honorable way to proceed here is for you to apologize for your ignorance (which is the best case scenario, you're simply ignorant), put up bids on GLBSE for the entire float at the price it was offered (plus a tip, sure, if you feel particularly humble). Let people who want out unwind for a week or two after which take whatever's left and buy this new mystery miner.

I do agree. Your way of doing business is just bad.
I'm a real investor, and want my money back.

[MPOE-PR]

More investment? Are you from like the future?

[matthewh3]

Things don't work that way. The only, and I do mean the ONLY honorable way to proceed here is for you to apologize for your ignorance (which is the best case scenario, you're simply ignorant), put up bids on GLBSE for the entire float at the price it was offered (plus a tip, sure, if you feel particularly humble). Let people who want out unwind for a week or two after which take whatever's left and buy this new mystery miner.

I do agree. Your way of doing business is just bad.
I'm a real investor, and want my money back.

Then'll I buy them back but you'll either have to wait for receipt of the first bit of equipment so I can pay dividends or until I personally have the funds to buy them back at 3.1BTC.  Sorry but its very late here but inbox me about your private sales and I will buy back at a minimum of 3.1BTC so you have still made a profit.  You will have to have higher forum posts/status then me for me to ship first.  Although I can only buy 50 shares next week then 50 - 150 two weeks later but we should have received the first FPGA board by then so thing may change one week after that as I've bought 157 shares and kept 50 from the IPO of 1900.