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Author Topic: Diablo Mining Company  (Read 87254 times)
DiabloD3
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September 12, 2012, 03:30:39 PM
 #521

When a company makes a series of bad moves and their share price drops, does the NYSE step in and go over the companies books, reverse trades, investigate what happened, make a judgement to put in a new CEO of the company??  

What I want to see is how nefario is going to steal other assets that belong to DMC. Is he going to call up companies we do business with and demand that they play along with this farce and hand stuff over? GLBSE is not a law enforcement agency and has no authority to do this.

WTF are you blabbering about? Where are "the other assets" and when did you acquired those?
Not only you have skipped including earned dividends in your reports, you have excluded BTC transfers and any assets acquired outside of GLBSE.

DiabloD3, you have to understand, that this is not YOUR BTC, it's OUR coin - all the investors including you and ONLY!, if you own any shares in DMC. You can not just transfer coins out and prance to the fkn sunset with it. This is theft! As simple as that.


As I said in my response to nefario, I am announcing ahead of time that DMC will be dealing with the data center part of the plan top down instead of bottom up, and we will begin selling dedicated server and cloud services soon.

There is nothing to include on the report yet, and no BTC has been transfered out of GLBSE to support the dedi/cloud service sales. Everything involved with this is coming out of my own pocket.

Accusing me of theft is no different than saying "I know what you are, but what am I?" like a child in kindergarten; shilling for nefario is not going to help his case.

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MoinCoin
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September 12, 2012, 04:34:24 PM
 #522

I am announcing ahead of time that DMC will be dealing with the data center part of the plan top down instead of bottom up, and we will begin selling dedicated server and cloud services soon.
You may do so. But that won't be an endeavor within DMC.

Please create a second company for that, if you are serious.
I wish you good luck (no joke).
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September 12, 2012, 05:10:30 PM
 #523

This is a bit sad to watch. He seems to be under the impression that DMC is his company.  Huh
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September 12, 2012, 09:55:29 PM
 #524

Diablo, can have your permission to post the CSV file from the DMC account with the entire account history, unedited, unchanged to allow your shareholders to investigate and audit your GLBSE account?

Also can I have your permission to post the current assets held by DMC?

PGP key id at pgp.mit.edu 0xA68F4B7C

To get help and support for GLBSE please email support@glbse.com
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September 12, 2012, 11:26:59 PM
 #525

Diablo, can have your permission to post the CSV file from the DMC account with the entire account history, unedited, unchanged to allow your shareholders to investigate and audit your GLBSE account?

Also can I have your permission to post the current assets held by DMC?


Nefario, Diablo:

I say post the CSVs.

I think we can all agree something bad has happened here.

The question to be debated is whether Diablo:

1.) was up to something diabolical

2.) was grossly incompetent

3.) was an innocent bystander at a difficult time in the market

Shine some light on this dark, murky corner of the internet.  Post the CSV and let the marketplace decipher what he's been up to.

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September 12, 2012, 11:30:39 PM
 #526

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Shine some light on this dark, murky corner of the internet.  Post the CSV and let the marketplace decipher what he's been up to.

I can't do that until I get Diablo's permission.

PGP key id at pgp.mit.edu 0xA68F4B7C

To get help and support for GLBSE please email support@glbse.com
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September 13, 2012, 02:35:36 AM
 #527

I think we can all agree something bad has happened here.

The question to be debated is whether Diablo:

1.) was up to something diabolical

2.) was grossly incompetent

3.) was an innocent bystander at a difficult time in the market

I do not believe number 3 is valid. Anyone who heads a venture has the opportunity to make a full range of choices. If there is a short coming, it is the result of making the wrong choices.  If the issuance does not deliver as per the contract, it is the issue operator's fault.
DiabloD3
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September 13, 2012, 05:13:22 PM
 #528

This is me running the exchange, this isn't a free for all, there are rules you know. Also I'm not judging anyone, DMC shareholders (as per my post) will be the ones to decide, not me.

Yet I personally told you months ago on IRC that the PPTs should be shut down, and you did nothing, yet DMC continues to turn a profit for shareholders and you lock my account? Thats insane.

Quote
At the end of the day, certainly in this case the shareholders are both the judge and jury and will decide the fate of DMC.

Yet you refuse to open this fake motion of yours and are already conspiring to put usagi in as the new CEO against shareholder wishes? You have already irreparably harmed the company: the only one that needs to be investigated is you.

You have cost the Bitcoin investing community a chance to show the outside world that we're ready for major investors. This may have been our only chance to do so. You blew it because of your greed.

If anyone out there still has DMC shares, I suggest you sell them for whatever you can sell them for, you're unlikely to ever see your investment returned unless nefario, like pirate and bitcoinica, returns it.

DiabloD3
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September 13, 2012, 06:07:23 PM
 #529

Yet you refuse to open this fake motion of yours and are already conspiring to put usagi in as the new CEO against shareholder wishes? You have already irreparably harmed the company: the only one that needs to be investigated is you.

You're delusional.

You admitted in privmsg on IRC about a week or two ago that if I didn't do exactly what you said that you'd do something, although you wouldn't say what. I thought you were just drunk or high, so I ignored it.

Now I know why you were trying to stall negotiations of you taking over asset management for DMC, you were already planning this entire thing with nefario. You claimed it was because you didn't like the fact I owned half of OBSI.ABMO (which you later said, in public*, Obsi was a scammer on #bitcoin-assets, and Obsi is a well respected member of this community).

Where does the bullshit end? Are you going to claim BTC-Mining and Yochdog are scammers too? Or friedcat? Anyone who I've ever invested in? Where does it end?

*
Quote
[10:38:41] <usagi> Boy am I glad I started selling out my OBSI earlier before the crash
[10:38:53] <usagi> No way I'm getting stuck in another ponzi but now I'm trapped
[10:38:58] <usagi> I have like, several thousand shares to sell
[10:39:03] <usagi> and it's under .1

DiabloD3
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September 13, 2012, 06:27:26 PM
 #530

Just agree to the audit, or disappear and let the shareholders move forward.

The only thing I will agree to is scammer tags for all of nefario's and usagi's forum accounts.

Unless nefario backs down and apologizes to DMC's shareholders, there is nothing for the shareholders to move forwards to. The money is gone forever. Even if the shareholders vote to retain me as CEO, nefario will just change the motion to say otherwise and liquidate the assets at any price he sees fit.

If shareholders believe in the DMC plan and wish to see it completed, then they will do everything possible to make nefario return the stolen assets. Voting on the motion isn't enough.

DiabloD3
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September 13, 2012, 06:31:52 PM
 #531

Yet you refuse to open this fake motion of yours and are already conspiring to put usagi in as the new CEO against shareholder wishes? You have already irreparably harmed the company: the only one that needs to be investigated is you.

You're delusional.

You admitted in privmsg on IRC about a week or two ago that if I didn't do exactly what you said that you'd do something, although you wouldn't say what. I thought you were just drunk or high, so I ignored it.

Now I know why you were trying to stall negotiations of you taking over asset management for DMC, you were already planning this entire thing with nefario. You claimed it was because you didn't like the fact I owned half of OBSI.ABMO (which you later said, in public*, Obsi was a scammer on #bitcoin-assets, and Obsi is a well respected member of this community).

Where does the bullshit end? Are you going to claim BTC-Mining and Yochdog are scammers too? Or friedcat? Anyone who I've ever invested in? Where does it end?

*
Quote
[10:38:41] <usagi> Boy am I glad I started selling out my OBSI earlier before the crash
[10:38:53] <usagi> No way I'm getting stuck in another ponzi but now I'm trapped
[10:38:58] <usagi> I have like, several thousand shares to sell
[10:39:03] <usagi> and it's under .1

What the hell does that have to say about anything? So I was trying to sell some HRPT? So? Why do you keep trying to bring Obsi into this? And BTW Obsi and I have had our differences but we made up so to speak, do you realize what a doofus you sound like saying that? I would never say that about Obsi.

Are you high?

When I talked to Obsi yesterday, he sure as hell didn't believe you've made up your differences.  You told me you didn't want to take DMC's asset management on because I held OBSI.ABMO.

So are you saying you misspoke or that I am remembering it wrong? If that wasn't your reason, why did you tell me that, and what was your real reason? I believe my shareholders have a right to know.

kakobrekla
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September 13, 2012, 06:32:18 PM
 #532

So much fail, memes can not describe. I'll just leave this text line.
hahahahahahahahahahahahahaha

ianbakewell, are you baked well? Your posts are not constructive. Focus on your own operation. Thanks.

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September 13, 2012, 06:34:52 PM
 #533

I believe my shareholders have a right to know.

I think your shareholders have a right first and foremost to know what exactly you did with their bitcoins. All the rest is a sideshow drama.
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September 13, 2012, 06:44:15 PM
 #534

[03:25:13] <Diablo-D3> dmc will continue with or without the missing assets

If you said that then you're living in a fantasy world.  The only assets you've ever disclosed are the ones that are locked at the moment.  Without them DMC has no assets.  How can you 'continue' DMC with zero assets (not to mention no record of share-holders etc).

usagi taking over DMC would be a bad idea - she already runs one company (BMF) which invests primarily in mining bonds/shares (as do, to lesser extent, nyan.a and CPA) - so it would lead to a conflict of interest on occasion.  e.g. she sees a small quantity of shares up at a very attractive price: does she buy for DMC? for BMF? for nyan.a?  No doubt this is part of the reason why she's said she ISN'T going to take-over DMC - and your (DIablo's) claim that she is, seems just a conspiracy theory.

DMC has so few assets (only a handful of different stocks) that in an ideal world (if Diablo isn't given back control) they'd just be liquidated and the funds used to buy-out all shares.  DMC appears to have no intangible assets, goodwill or similar giving any compelling reason for it to continue to exist as an entity.  Unfortunately that's in an ideal world - and would be hard to achieve due to the total lack of liquidity at any reasonable price on the investments.

IF usagi were to be involved in the closure then the obvious way would be to issue new BMF shares to DMC shareholders in return for DMC's assets at a small discount.  That would be a clear step up for DMC investors as she's only managed to lose 45% of her investors' nav whilst Diablo lost 95% of his.  But I can't see that flying either -as the big chunk of obsi shares are a huge risk to take on with no easy way to get out of them (and she's already stuck with a bunch of them).

Ultimately I think only way out will be a fire-sale of the assets (ask for block bids, not sell into a nonexistent bid-wall) and distribution of funds raised (after unwinding to whatever extent is possible the share trades that should never have happened and were in breach of contract).  Unless, of course, investors would like to reinstate DIablo so he can continue to "deliver profits" (as he claims earlier he is doing) to them.
DiabloD3
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September 13, 2012, 06:50:46 PM
 #535

I believe my shareholders have a right to know.

I think your shareholders have a right first and foremost to know what exactly you did with their bitcoins. All the rest is a sideshow drama.

I invested them in companies that I believe can return the most value. I believe our investment in ABMO and ASICMINER is sound. Although the fixed mhash bond fiasco wiped out some of our money, this does not change the end goal, it just means we will take a little longer to get there.

I believe in DMC, and I've invested my own money into this alongside everyone else's because I believe. I will continue trying to make this a reality no matter what hardship occurs, this is what it means to believe in something.

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September 13, 2012, 06:53:45 PM
 #536

I think there is another option:

Continue DMC with a new operator.
  • continue operation of DMC but with a conservative investment strategy
    (maybe 50%/50% dividends/investments like the original contract)
    concentrating to conserve or increase NAV (minimal trade volume)
  • Each shareholder should have an option to transfer in his DMC shares and get an equal proportion of shares which DMC owns (modulo arithmetics)
  • If rounding is not optimal, you could sell your shares, so another shareholder can swap shares and you'll still get your equal cut

This would provide a choice for shareholders and will prevent great discounts for liquidating all shares.

But at first an audit on previous transactions has to be done.
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September 13, 2012, 06:54:42 PM
 #537

I believe my shareholders have a right to know.

I think your shareholders have a right first and foremost to know what exactly you did with their bitcoins. All the rest is a sideshow drama.

I invested them in companies that I believe can return the most value.

I think you missed a word there. If what you say is correct, then just give Nefario permission to publish the data so shareholders can decide for themselves.

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September 13, 2012, 06:57:42 PM
 #538

I think there is another option:

Continue DMC with a new operator.
  • continue operation of DMC but with a conservative investment strategy
    (maybe 50%/50% dividends/investments like the original contract)
    concentrating to conserve or increase NAV (minimal trade volume)
  • Each shareholder should have an option to transfer in his DMC shares and get an equal proportion of shares which DMC owns (modulo arithmetics)
  • If rounding is not optimal you can sell your shares, so another shareholder can swap shares

But at first an audit on previous transactions has to be done.

Whats the point of continuing this? The only sensible thing to do is reverse some recent fraudulent trades when possible, and then distribute the assets among share holders. Not that there is much left to distribute.
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September 13, 2012, 06:59:01 PM
 #539

Whats the point of continuing this? The only sensible thing to do is reverse some recent fraudulent trades when possible, and then distribute the assets among share holders. Not that there is much left to distribute.
Don't see the difference, when shareholders are free to claim assets.
And of course the fraudulent transactions should be reversed if possible.
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September 13, 2012, 07:01:54 PM
 #540

BTW, I find it somewhat strange that an embattled CEO would even need to give permission for records to be released to the shareholders who paid for this trainwreck. At most a shareholder motion would have to be sufficient IMO.
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