[Havelock] HASH - Mining Equipment Sales, Contracts, More

[NotLambchop]

...
There are many profitable, industrial-scale mines out there. The issue is that few (or any, that I know of), are public and use crypto as a vehicle of investment...

On the other hand, there are countless PMBs and "mining contracts," each and every one of them proving ruinous for their marks investors.

You chose the shotgun approach, "Funds from the offering we will go towards purchasing products and infrastructure related to Bitcoin and altcoin mining, as well as supplies and logistics surrounding the resale and distribution of products in the United States."
...which loosely translates to "Send me money, and I'll do stuff with it!"

And this is all done via a HK-registered co. selling unregistered securities through an unlicenced Panamanian exchange.
An exchange where every listing is trading below its initial listing price.

What could possibly go wrong?

[Benny1985]

...
There are many profitable, industrial-scale mines out there. The issue is that few (or any, that I know of), are public and use crypto as a vehicle of investment...

On the other hand, there are countless PMBs and "mining contracts," each and every one of them proving ruinous for their marks investors.

You chose the shotgun approach, "Funds from the offering we will go towards purchasing products and infrastructure related to Bitcoin and altcoin mining, as well as supplies and logistics surrounding the resale and distribution of products in the United States."
...which loosely translates to "Send me money, and I'll do stuff with it!"

And this is all done via a HK-registered co. selling unregistered securities through an unlicenced Panamanian exchange.
An exchange where every listing is trading below its initial listing price.

What could possibly go wrong?

The parent company has a track record. We've sold about $1,000,000 in mining products in the last 12 months. The parent company was listed on LitecoinGlobal at 0.30 LTC when we started out. Before they (LTC Global) died, we were listed at or around 1.0 LTC, tripling our price. We're now looking for an investment price of 0.022 BTC, which is well beyond that number. There is a 90 page thread about our company on LitecoinTalk. Feel free to read every page of it and get back to me about where we've defrauded or misappropriated funds from investments. Or why not ask the people that have visited our facilities and done face-to-face interviews with me?

If you'd like, I can produce a document that will show where every dollar will go to. That assumes you have any (actual) interest in the offering of the company.

Feel free to call me, or visit our current facilities, NotLambChop, and see where we are at today. When we IPO, please buy 1 share of the company and ask to be put on the board. In the event of you getting elected, I will gladly fly you out to our facilities to let you look at our books if you feel like you can add value or insight to the situation.

[NotLambchop]

...
There are many profitable, industrial-scale mines out there. The issue is that few (or any, that I know of), are public and use crypto as a vehicle of investment...

On the other hand, there are countless PMBs and "mining contracts," each and every one of them proving ruinous for their marks investors.

You chose the shotgun approach, "Funds from the offering we will go towards purchasing products and infrastructure related to Bitcoin and altcoin mining, as well as supplies and logistics surrounding the resale and distribution of products in the United States."
...which loosely translates to "Send me money, and I'll do stuff with it!"

And this is all done via a HK-registered co. selling unregistered securities through an unlicenced Panamanian exchange.
An exchange where every listing is trading below its initial listing price.

What could possibly go wrong?

The parent company has a track record. We've sold about $1,000,000 in mining products in the last 12 months. The parent company was listed on LitecoinGlobal at 0.30 LTC when we started out. Before they (LTC Global) died,

Lol @ "died"  Certainly puts any concerns re. third-party risks to rest.  And Burnside was just a touch more trustworthy than some D00d in Canada Panama.

we were listed at or around 1.0 LTC, tripling our price. We're now looking for an investment price of 0.022 BTC, which is well beyond that number.

Not sure I'm following, are the "shares" listed on Ethan's exchange being converted transferred to Havelock?  What happened to those shares?  What percentage of your company (HK or US) do these shares represent?

Finally, are the shares offered on Havelock actual equity shares, or some weird "shares in virtual profits of shell A wholly owned by, yet doing business with, company B"?

There is a 90 page thread about our company on LitecoinTalk.

There's a 927-page thread about Labcoin on Bitcointalk.  Link to your thread?

Feel free to read every page of it and get back to me about where we've defrauded or misappropriated funds from investments. Or why not ask the people that have visited our facilities and done face-to-face interviews with me?

If you'd like, I can produce a document that will show where every dollar will go to. That assumes you have any (actual) interest in the offering of the company.

"If I'd like?"  Providing financials is the first step to going public.  Please do.

Feel free to call me, or visit our current facilities, NotLambChop, and see where we are at today. When we IPO, please buy 1 share of the company and ask to be put on the board. In the event of you getting elected, I will gladly fly you out to our facilities to let you look at our books if you feel like you can add value or insight to the situation.

Your US company is seeking to raise funds by issuing unregistered securities through a laughably transparent HK shell (feel free to ask ActiveMining's Kenneth Slaughter how well that worked out for him).  I have no doubt that you're willing to stretch the truth.  The only thing left uncertain is "to what extent."

In any event, as little as I care about the reputation of this account, I still do not wish to sully it through association with shady "IPOs."

[Sahtor]

In your prospectus you make a financial projection regarding 1st year of operation:

Net Profit 1,501.27 BTC
Earnings per share: 0.00577411

Current plans to IPO with share price of 0.022-0.0235 would mean return of 25% or P/E ratio of 4 during 1st year.

What is the cutoff date for your projection starting? Is the 1st year already on its way to a reality?

[augustocroppo]

Ok, explain to potential investors why you need a proxy company in Honk Kong to raise funds for a legally registered company in Ohio?

By the way, who is the appointed director of BIG TREND CAPITAL INVESTMENT LIMITED?

While our US LLC can offer investment direct to investors (and will to US investors to comply with SEC rules), due to the nature of bitcoin and the fact that many of our previous investors were foreign, it was decided to have the investment done into a foreign entity (in this case HK) to lessen the requirements foreign investors would need to handle investing into a US company. This also allows us to keep our onshore and offshore investment clearly separated and in compliance with the various registration exemptions. As others have mentioned, we have a history of handling mining bonds denominated in LTC.

You ignored the most important question: who is the appointed director of BIG TREND CAPITAL INVESTMENT LIMITED?

At this point it is imperative that everyone knows who is the person responsible for your "parent" company operating offshore.

[boldar]

I have been doing business with Benny for well over a year, and I am one of the original investors from LTCGlobal. I met with Ben in person and I have also physically inspected the facility. Ben has been trustworthy in every aspect of our dealings. While many of the securities that were listed on Ethan's exchange closed up shop and did the ol' smash'n'grab, Ben spent countless hours of his time in communication, effort and research to preserve the reputation, price and regular dividends while we have been waiting many months to be relisted on another exchange.  It is unfortunate that it has taken so much time to be relisted after the closing of LTC global, but the reason for this is a very good one. Ben has gone to great lengths to research and voluntarily participate in the regulation that exists today and as it is evolving to fit this emerging technology.

 In every instance, Ben has always been available to listen to the needs of the investors, provide transparency and liquidity when requested and has also been in regular contact with lawyers and the SEC to make sure he is operating within the legitimate realm of business as the regulators currently understand it. The idea of using the parent corp is the best way of providing access to the potential pool of investors.

In any event, as little as I care about the reputation of this account, I still do not wish to sully it through association with shady "IPOs."

NotLambchop: If you don't want to do business with "Shady IPOs" then don't... but I think your opinion/judgement of the matter does not apply in this case as there is nothing shady about this company... Ben has invited you to personally investigate his books. If you would like to invest, please do so. If not, then don't.

[NotLambchop]

@boldar:  I understand that as a "shareholder," you have vested interest in the success of this (which number?) PO.  If you feel like fielding the questions posed in my previous post, feel free to do so.  If not, then don't.

[Benny1985]

In your prospectus you make a financial projection regarding 1st year of operation:

Net Profit 1,501.27 BTC
Earnings per share: 0.00577411

Current plans to IPO with share price of 0.022-0.0235 would mean return of 25% or P/E ratio of 4 during 1st year.

What is the cutoff date for your projection starting? Is the 1st year already on its way to a reality?

Projections are made for the 12 months after IPO closing. We have to have at least a portion of the IPO to be raised to make those returns a reality. We're doing well at the moment, but we're in a situation to where I simply have more orders/demand for products than we have money for.

For example, here's a basic thread that I posted only July 8th for AntMiner S3s:

https://bitcointalk.org/index.php?topic=682528.0

We fronted 100% of the payment to BitMain for the miners, and simply made it public that we wanted to sell our inventory. Within 4 days, the initial allocation  of 40 units (of 55 we had ordered) was sold. Here's the catch: After we sold out on he site, I had requests for another 120+ units. We opened sales back up for 10 this morning, as we had a few refunds from customers that wanted to cancel. We sold the 10 out in about 5-8 minutes (I simply E-mailed current purchasers of this batch of S3's that we had more units). We have the capacity to turn as much inventory as we have funding for. The problem being that its much harder to make sizable margins on $50,000 worth of inventory as opposed to, say, $500,000 after factoring in employee expenses and overhead.

[boldar]

@boldar:  I understand that as a "shareholder," you have vested interest in the success of this (which number?) PO.  If you feel like fielding the questions posed in my previous post, feel free to do so.  If not, then don't.

Yes, of course this is true that I do have an interest in the success of this security. But it is more along the lines of wanting to see an excellent company be successful when so much effort is made over a long period of time to cultivate it properly. It is unfortunate that the level of dedication that Ben has for the success of BAH and awesome customer service is something that has become rare in this world, but I can assure you, it is genuine and is indeed a "rare snowflake"

Which would you rather have me do?  Field your questions or point out the logical facilities of you "assumptions"?  If you have legitimate questions, then they can most likely be answered by reading the BAH on LTC-Global thread and understanding the progression of this company and Ben's dedication to its success... https://litecointalk.org/index.php?topic=3126.0  Yes, I know it's 104 pages, but TLDR isn't really a good excuse for building straw-men. If you do have specific and legitimate concerns, please voice them and they will be heard and answered if they are relevant.

NotLambchop: I guess the question that I have for you is if you are actually a potential investor or just someone with way too much free-time and a vested interest in a competing security. I have been forthcoming on my position, can you shed some light into your line of thinking?

If this is really a fly-by-night IPO, then it sure has been a long night...  :-P

[augustocroppo]

Which would you rather have me do?  Field your questions or point out the logical facilities of you "assumptions"?  If you have legitimate questions, then they can most likely be answered by reading the BAH on LTC-Global thread and understanding the progression of this company and Ben's dedication to its success... https://litecointalk.org/index.php?topic=3126.0  Yes, I know it's 104 pages, but TLDR isn't really a good excuse for building straw-men. If you do have specific and legitimate concerns, please voice them and they will be heard and answered if they are

But that is not the "company" being used to raise the funds. The company in question is a proxy entity based on Honk Kong which no one knows its track record or appointed director. So your blabbering is just useless and do not address the main point:

Why a company with a good track record in USA needs a proxy company in Honk Kong to raise a significant amount of funds? If the company in USA is doing well, why it needs more money to expand it business operation? Why not apply the profits of the legitimate company in the business expansion?

[NotLambchop]

Re, "specific and legitimate concerns," let's start with:



Who owns the HK co?

Which co. is making this offering, and in what do these (shares?  Units?) represent?

[hayek]

Re, "specific and legitimate concerns," let's start with:



Who owns the HK co?

Which co. is making this offering, and in what do these (shares?  Units?) represent?

Hey NotLambchop.

If you go to Litecointalk and search "Hong Kong" I'm pretty sure it answers all of your questions. Not trying to be a jerk here. I just don't want these questions to turn to badgering because you don't feel like you're being answered and we feel like you are.

I think that maybe some of these folks are operating under the assumption that you've already done your homework before asking questions. I'm sure you have, but I just wanted to point out some parts you may have missed while excitedly reading up on this security.

[Benny1985]

Which would you rather have me do?  Field your questions or point out the logical facilities of you "assumptions"?  If you have legitimate questions, then they can most likely be answered by reading the BAH on LTC-Global thread and understanding the progression of this company and Ben's dedication to its success... https://litecointalk.org/index.php?topic=3126.0  Yes, I know it's 104 pages, but TLDR isn't really a good excuse for building straw-men. If you do have specific and legitimate concerns, please voice them and they will be heard and answered if they are

But that is not the "company" being used to raise the funds. The company in question is a proxy entity based on Honk Kong which no one knows its track record or appointed director. So your blabbering is just useless and do not address the main point:

Why a company with a good track record in USA needs a proxy company in Honk Kong to raise a significant amount of funds? If the company in USA is doing well, why it needs more money to expand it business operation? Why not apply the profits of the legitimate company in the business expansion?

Because the profits aren't enough to expand the business quick enough. We have about $100,000 in liquid capital / inventory that we can turn over. Its enough money to keep us afloat, workers paid, and reinvest at a very meager rate, and pay some dividends out to previous shareholders. However, a sizable portion of capital will go mostly towards high-turnover inventory that can increase our profit margins since most other costs would be fixed, allowing for a greater rate of return for all involved.

Additionally, our contract with Micro Center is mostly time-sensitive. They want to purchase a large (>$100,000) amount of inventory from us. However, they require Net-30 payment(s), which mean that we have to front the payment for equipment, deliver, and then wait 30 days for them to pay out. This is unsustainable for any period of time, because it would take all liquid capital, and put us in a very precarious position. This is usually the point that companies go after funding to help deal with large PO's from retailers. That is what we're doing at this stage.

The director is disclosed in the prospectus. I've worked with John on other projects in relation to cryptocurrency and other projects. I have full confidence that he will be able to handle the responsibilities that are required of him.

[hayek]

Also, NotLambChop, I found this difficult to find as well but this is a link to the prospectus on Havelock:

https://www.havelockinvestments.com/reportdownload.php?id=107

This is the one Benny mentioned that has the name/details you are looking for, I believe.

It can be found on havelock's site here:

https://www.havelockinvestments.com/reports.php

[NotLambchop]

@hayek: ty.

[augustocroppo]

The director is disclosed in the prospectus. I've worked with John on other projects in relation to cryptocurrency and other projects. I have full confidence that he will be able to handle the responsibilities that are required of him.

You mean John Freeman.

All right, important details are starting to surface. What remains to be explained and elucidated is if you are authorized by the director of said company to raise funds in the company behalf.

John Freeman is going to pop up here to vouch for you?

[Benny1985]

The director is disclosed in the prospectus. I've worked with John on other projects in relation to cryptocurrency and other projects. I have full confidence that he will be able to handle the responsibilities that are required of him.

You mean John Freeman.

All right, important details are starting to surface. What remains to be explained and elucidated is if you are authorized by the director of said company to raise funds in the company behalf.

John Freeman is going to pop up here to vouch for you?

I am. I will ask to see if he can pop into the thread and confirm that I am an authorized representative to speak on behalf of both entities.

[NotLambchop]

Who is John Freeman?  LinkedIn, Facebook, website?

@hayek:  I'm having trouble understanding the relationship between Big Trends Capital Investment Limited and Coin Services LLC.
Does Big Trends Capital Investment Limited own 40% of Coin Services LLC, as the statement below suggest?


( https://litecointalk.org/index.php?topic=3126.msg145620#msg145620 )

[Chris_Sabian]

NotLambchop is a rather aggressive in asking for information and facts about Bitcoin IPO and companies.  Check his post history.

HOWEVER, with that being said, the questions that NotLambchop asks are valid and need to be addressed.  Wouldn't you want the people who you are investing your bitcoins with being able to answer tough questions?

[hayek]

@NotLambChop

I don't think I can help with that. I am just a shareholder and wanted to pass along things I knew were official. If I were to try and explain anything it could only be considered my personal opinion and given this thread's purpose I would rather defer to Benny, or those he appoints, for answering specific or targeted questions.

I am very much enjoying your questioning. I'm sure Benny will be able to answer this one.