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Author Topic: [HAVELOCK]CBCM SHA-256 Mine IPO (cancelled)  (Read 9871 times)
cbcm.co
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June 10, 2014, 07:06:27 PM
Last edit: June 20, 2014, 08:15:29 AM by cbcm.co
 #1



Dear shareholders.

SHA-256 Mine IPO was cancelles as we failed to place Round 1 shares by 18-th of June.

All investmnts were refunded.

We apologize for this situation and hope that our future products will be highly demanded.

Best regards,
cbcm.co team.


***

Cross Board Coin Mine SHA-256 Mine is a hosted bitcoin mining project with planned capacity of 1,000,000 GH/s or 1,000 TH/s of hashing power, that represent around 1% of total hashing power.


About The Project

The SHA-256 Mine is a hosted mining project with planned capacity of 1,000,000 GH/s or 1 PH/s of hashing power within next 3 months (that is around 1% of total hashing power deployed in the world).

The core hardware for the mine will be the 28-40nm chip units from Spondoolies-Tech. These devices have outstanding specifications when it comes to power consumption and hashing power, which, in turn, means CBCM will be able to keep power and hosting costs at a minimum.
The strategic partnership with Spondoolies-Tech and WPT Limited means CBCM will have access to future chip developments at the most competitive rates on the market.
CBCM will reinvest 30-50% of the mine’s net revenue in additional hashing power. Any change of reinvestment rate cannot differ more than 5% from previous period value. This means that as the SHA-256 Mine continues to grow, each share will, in turn, represent more hashing power. 70-50% of the net revenue will be paid to shareholders through a dividend. Dividend payments will be weekly.

First dividend date is set on 30-th of June 2014.

For the period of June-July 2014 reinvestment rate is set at 40% level.

Deployment of the first 400 TH/s of the SHA-256 Mine will start in June, 2014.

The costs of maintaining the mine are: electricity costs, hosting costs and maintenance costs. We will be as transparent about the operational costs as possible. We expect total monthly costs will not exceed $0.2 per 1 GHs during next 3 months, and will be lower after SP30 miners and other efficient equipment are deployed.

CBCM will regularly update all relevant information about the SHA-256 Mine so that unit holders can evaluate the performance, capital outlay, and future of the project. It will make this information available through the Havelock Investments website, a regular newsletter, and periodic updates to its website (cbcm.co), and a forum it has created on bitcointalk.org.

The IPO

Currently there are no units outstanding.

All units will be offered in the IPO on www.havelockinvestments.com

All units will be offered in 2 ways:
-   During the IPO placement;
-   At permanent rolling placement.

The IPO is divided into 8 rounds 5,000 shares each. Price wil start from 0.042 BTC per share at Round 1 to 0.0455 BTC per share at Round 8.

IPO will start on Wednesday, June 11 and finish on Friday, June 27.

All funds will be used to start SHA-256 Mine and to provide the ability to close and make down payments for deals for future deployment of mining equipment.

Rolling placement
After IPO is placed CBCM will start permanent rolling placement. Each rolling placement will start on Monday 12:00 noon GMT and last during next Monday 11:59:59 GMT. Maximum number of units offered each week cannot exceed 5 000 units.
All units that are placed during this stage are placed under ticker "SHA". After each weekly placement all placed "SHA" units will be converted to "SHA.R" units automatically. Each newly placed "SHA.R" unit represents the same quantity of GH/s as traded "SHA" unit. Weekly placement price cannot differ more than 10% from average weighted weekly market price for the previous trading week.
All converted units are included in dividend distribution on next Sunday.
Raised funds are to be directed to deployment of additional mining equipment and cannot be used for other purposes.

Havelock Investments provide escrow service for raised funds during first 8 round of IPO. That means that bitcoin will be paid to Spondoolies-Tech directly for the purchase of the equipment.

Link to Fund's page at Havelock Investments:
https://www.havelockinvestments.com/fund.php?symbol=SHA

Link to IPO page at Havelock Investments:
https://www.havelockinvestments.com/ipo.php

Link to official IPO Prospectus:
https://www.havelockinvestments.com/reports.php

Official cbcm.co web page:
www.cbcm.co
(to be updated soon)
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June 10, 2014, 08:24:42 PM
 #2

You need a better name for your asset. You simply cannot call it SHAT and expect people to take you seriously.

Trade bitcoin stocks, funds, and futures with the MPEx broker: CoinBR.com

The best place for bitcoin betting: BitBet.us
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June 10, 2014, 08:29:01 PM
 #3

Your ticker is SHAT?

OOPS, looks like pummle beat me to it.



.
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[15.00000000 BTC]


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June 10, 2014, 08:43:36 PM
 #4

)))
Changed to SHA.R (SHA Resale)
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June 10, 2014, 08:44:26 PM
 #5

Interested.  But need more info.

Who are you?  Where is your company located?  
What kind of agreements do you have with SpondooliesTech?  
Do you have the SP1s already?  June batch is sold out?
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June 10, 2014, 09:22:01 PM
 #6

[...]

All funds will be used to start SHA-256 Mine and to provide the ability to close and make down payments for deals for future deployment of mining equipment.

[...]

Just so I'm clear, since I must have misinterpreted your post...you're asking investors to float BTC1,750 (40,000 shares @ BTC0.04375 average over 8 rounds) to start a 1 PH/s mine. Since each share is 10GH/s (as noted in your prospectus and title), you're granting yourself 60% of the total hashrate (600TH/s) right from the start, leaving investors with just 400TH/s?

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June 10, 2014, 09:25:00 PM
 #7

WARNING
This IPO website is private
This IPO website has no link to personal information


Chance of fraud
HIGH

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June 10, 2014, 09:25:39 PM
 #8

I think they want to start with 400th (8x5000 shares in IPO) and continue with 'rolling placement'.
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June 10, 2014, 09:32:40 PM
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WARNING
This IPO website is private
This IPO website has no link to personal information


Chance of fraud
HIGH
Right.
For a LTD registered in UK there are strict laws what MUST be published on company website.
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June 10, 2014, 09:44:10 PM
 #10

Interested.  But need more info.

Who are you?  Where is your company located? 
What kind of agreements do you have with SpondooliesTech? 
Do you have the SP1s already?  June batch is sold out?

We are  a group of cryptomined enthusiasts who managed to start couple privately held mining projects located in different countries (personally I live in Czech Rep). All info about company's management will appear at our website soon.
For the moment we are in business relations with Spondoolies-Tech (I am not authorized to disclose details of the agreement).
We booked SP10 and have a letter of confirmation from Spondoolies-Tech (attached in prospectus).

Just so I'm clear, since I must have misinterpreted your post...you're asking investors to float BTC1,750 (40,000 shares @ BTC0.04375 average over 8 rounds) to start a 1 PH/s mine. Since each share is 10GH/s (as noted in your prospectus and title), you're granting yourself 60% of the total hashrate (600TH/s) right from the start, leaving investors with just 400TH/s?
I think they want to start with 400th (8x5000 shares in IPO) and continue with 'rolling placement'.

During first round we plan raise funds to deploy 400 THs and after start rolling placements to increase total hashpower to 1 PHs by September.
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June 10, 2014, 09:48:10 PM
 #11

Interested.  But need more info.

Who are you?  Where is your company located?  
What kind of agreements do you have with SpondooliesTech?  
Do you have the SP1s already?  June batch is sold out?

We are  a group of cryptomined enthusiasts who managed to start couple privately held mining projects located in different countries (personally I live in Czech Rep). All info about company's management will appear at our website soon.
For the moment we are in business relations with Spondoolies-Tech (I am not authorized to disclose details of the agreement).
We booked SP10 and have a letter of confirmation from Spondoolies-Tech (attached in prospectus).



You are not allowed to disclose the details... classic. You sir need to tell use exactly who you are and the other people asap or risk losing your IPO to being called a scam.

No reason for a legit business to hid identities... AT ALL!

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June 10, 2014, 10:00:44 PM
 #12

The BIGGER issue, besides the fact that your asking for us to jump start your entire business, is that you can get a better deal elsewhere.

PBMINING: .0041 BTC per 1 GH
YOUR PRICE: .0042 BTC per 1 GH

Whats to stop you from just purchasing PBMINING (WHERE YOU PAY 0 ELECTRICITY COSTS), giving your self the 10% bonus from the referral, and keeping us out to dry by charging 20 cents per 1 GH every month? Sounds like a nice way to give your self 100 TH in free mining power + $200 a month for "electricity", not to mention any other "maintenance" fee's you decide to tick on.


Im still amazed people buy into these mines to begin with, cheaper to go with cloud mining where you get 100% of revenue  Roll Eyes
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June 10, 2014, 10:06:26 PM
 #13

We at Havelock have an agreement directly with Spondoolies-Tech to transfer any Funds raised during this offering directly to Spondoolies-Tech as we act as the escrow service.

Havelock Investments

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June 10, 2014, 10:59:18 PM
 #14

The BIGGER issue, besides the fact that your asking for us to jump start your entire business, is that you can get a better deal elsewhere.

PBMINING: .0041 BTC per 1 GH
YOUR PRICE: .0042 BTC per 1 GH

Whats to stop you from just purchasing PBMINING (WHERE YOU PAY 0 ELECTRICITY COSTS), giving your self the 10% bonus from the referral, and keeping us out to dry by charging 20 cents per 1 GH every month? Sounds like a nice way to give your self 100 TH in free mining power + $200 a month for "electricity", not to mention any other "maintenance" fee's you decide to tick on.


Im still amazed people buy into these mines to begin with, cheaper to go with cloud mining where you get 100% of revenue  Roll Eyes

Of course you can choose between buyng mimng contract and share in mining business.

If you buy first - you will receive decreasing amount of dividends for a set period and have no possibility to sell your contract.
If you buy shares - you wil receive relatively stable amount of dividends (due to reinvestments that increase hashpower per each share) as long as you hold shares and trade them as you wish.
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June 10, 2014, 11:14:54 PM
Last edit: June 10, 2014, 11:32:41 PM by RiverBoatBTC
 #15

This still does not solve security problems major one being identity.
Ok so you escrowed the purchases...
What is stopping them from just taking all the miners when they get them?
No one has the foggiest clue who these people are.....
Works like this---------
No one knows me...
I got a exchange to escrow this IPO to make it look secure...
All I have to do is hold the scam out till the all the miners get here....
and its gone....

escrow only provides protection when both parties are receiving something i.e. cash for tangible goods
Not shares of tangible goods, after the escrow is released it is no different then them getting the money up front and stealing it, opposed to getting miners and stealing them.

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June 11, 2014, 12:07:03 AM
 #16

Just so I'm clear, since I must have misinterpreted your post...you're asking investors to float BTC1,750 (40,000 shares @ BTC0.04375 average over 8 rounds) to start a 1 PH/s mine. Since each share is 10GH/s (as noted in your prospectus and title), you're granting yourself 60% of the total hashrate (600TH/s) right from the start, leaving investors with just 400TH/s?
I think they want to start with 400th (8x5000 shares in IPO) and continue with 'rolling placement'.

During first round we plan raise funds to deploy 400 THs and after start rolling placements to increase total hashpower to 1 PHs by September.

Ah, I got it, thanks for the clarification.

Since that's the case, why should I invest in you guys over the PETA operation? I can see their current share price is fractionally higher at the moment (in terms of $ per GH/s), but they already have ~1.2PH/s deployed and are paying dividends.

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June 11, 2014, 02:22:47 AM
 #17

Nice to know where all the SP10s went.
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June 11, 2014, 02:27:33 AM
 #18

Nice to know where all the SP10s went.

Think they are going to hold onto those for a company that has no funds? If they are holding those miners with out some sort of deposit they are nuts.

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June 11, 2014, 02:37:37 AM
 #19


Since that's the case, why should I invest in you guys over the PETA operation? I can see their current share price is fractionally higher at the moment (in terms of $ per GH/s), but they already have ~1.2PH/s deployed and are paying dividends.


A few months ago PETA operation was at the same stage as we are now - IPO.
We have to copete and developed a plan how to increase hasing power of each share by 50% during next 3 months.
As you understand that will increase (or keep stable, depending on difficulty changes) weekly dividend payments to each unit holder.
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June 11, 2014, 02:45:55 AM
 #20

Nice to know where all the SP10s went.

thats one way to spread the hash around …

~L)L~
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