Diablo Mining Company

[Puppet]

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.

[Puppet]

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.

[DiabloD3]

[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).

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.

Not at all. I am going ahead with the dedicated server and cloud service sales if I can. The plan was structured in a way that if any single revenue stream is damaged, the company survives through the others.

No BTC from DMC has gone into the web hosting service project, and until this is up and running and people could order services, I was not going to mention it officially to shareholders. usagi, rapeghost, and several others were aware of it unofficially.

The dedi side of the sales could easily be a 2-3 BTC profit (half of that going to shareholders) per customer.  15-20 customers could double dividends, and I think the market could be several times bigger than that.

[DiabloD3]

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.

Several shareholders have already asked for the motion to keep me to be put up now, nefario refuses to do this. Why expect nefario to do anything else?

[Puppet]

The csv could potentially contain legitimate personal transactions. Privacy issues abound.
Diablo has both claimed to have personal holdings, and to have no holdings except those under DMC control.
What the truth is, who knows...

I was assuming the CSV would only contain DMC related transactions. If Diablo has a private account of his own and trades with that for himself, I see no reason to publish that (unless, well, there is a very good reason to(like insider trading with DMC). Since I never set up an asset on GLBSE, Im not sure how its structured, but Im sure there is a way to distinguish between private and corporate transactions?

[DiabloD3]

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.

The csv could potentially contain legitimate personal transactions. Privacy issues abound.
Diablo has both claimed to have personal holdings, and to have no holdings except those under DMC control.
What the truth is, who knows...

I have never claimed to have a personal portfolio. I only have one account. I only own shares in DMC. When I said I put all the money I have into DMC, I wasn't kidding.

[Puppet]

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.

Several shareholders have already asked for the motion to keep me to be put up now, nefario refuses to do this. Why expect nefario to do anything else?

Shareholder that you virtually gave shares to  from the unsold pool for like 0.01BTC, or shareholder that actually purchased your shares?
Regardless, just answer the question: do you object to the records being published or not? If you have nothing to hide, why would you?

[DiabloD3]

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.

Several shareholders have already asked for the motion to keep me to be put up now, nefario refuses to do this. Why expect nefario to do anything else?

Shareholder that you virtually gave shares to  from the unsold pool for like 0.01BTC, or shareholder that actually purchased your shares?
Regardless, just answer the question: do you object to the records being published or not? If you have nothing to hide, why would you?

I object to nefario trying to destroy DMC based on rumors and without shareholder approval.

[Puppet]

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.

Several shareholders have already asked for the motion to keep me to be put up now, nefario refuses to do this. Why expect nefario to do anything else?

Shareholder that you virtually gave shares to  from the unsold pool for like 0.01BTC, or shareholder that actually purchased your shares?
Regardless, just answer the question: do you object to the records being published or not? If you have nothing to hide, why would you?

I object to nefario trying to destroy DMC based on rumors and without shareholder approval.

So you object to shareholders finding out what you did exactly with their money?

[Nefario]

I cannot simply release the CSV for any account without the account owners permission.

There is a motion now up available for voting, it has 5 days to vote on
https://glbse.com/vote/view/126

IF you have DMC shares please vote.

Also, I will need someone to audit the CSV and account to work out a basic profit and loss(balance sheet is easy), and a simple report. There will be a couple of bitcoin for the completion of this task(paid out of GLBSE's pocket).

Nefario.

[DiabloD3]

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.

Several shareholders have already asked for the motion to keep me to be put up now, nefario refuses to do this. Why expect nefario to do anything else?

Shareholder that you virtually gave shares to  from the unsold pool for like 0.01BTC, or shareholder that actually purchased your shares?
Regardless, just answer the question: do you object to the records being published or not? If you have nothing to hide, why would you?

I object to nefario trying to destroy DMC based on rumors and without shareholder approval.

So you object to shareholders finding out what you did exactly with their money?

I object to a puppet account uninspiringly named puppet who has less than 100 posts and is not even a month old and frequently trolls in threads elsewhere on the forum.

[Puppet]

I cannot simply release the CSV for any account without the account owners permission.

There is a motion now up available for voting, it has 5 days to vote on
https://glbse.com/vote/view/126

IF you have DMC shares please vote.

Also, I will need someone to audit the CSV and account to work out a basic profit and loss(balance sheet is easy), and a simple report. There will be a couple of bitcoin for the completion of this task(paid out of GLBSE's pocket).

Nefario.

Its linked to the wrong asset. DI.BFLSC.SUCCEED instead of DMC

[DiabloD3]

I cannot simply release the CSV for any account without the account owners permission.

There is a motion now up available for voting, it has 5 days to vote on
https://glbse.com/vote/view/126

IF you have DMC shares please vote.

Also, I will need someone to audit the CSV and account to work out a basic profit and loss(balance sheet is easy), and a simple report. There will be a couple of bitcoin for the completion of this task(paid out of GLBSE's pocket).

Nefario.

Wrong asset and 0% to pass means already passed.

[novusordo]

I cannot simply release the CSV for any account without the account owners permission.

There is a motion now up available for voting, it has 5 days to vote on
https://glbse.com/vote/view/126

IF you have DMC shares please vote.

Also, I will need someone to audit the CSV and account to work out a basic profit and loss(balance sheet is easy), and a simple report. There will be a couple of bitcoin for the completion of this task(paid out of GLBSE's pocket).

Nefario.

DI.BFLSC.SUCCEED != DMC.

I see no motions for DMC right now.

Let us know when you fix this.

[Puppet]

I object to a puppet account uninspiringly named puppet who has less than 100 posts and is not even a month old and frequently trolls in threads elsewhere on the forum.

I dont care if you object to that. My postcount is completely irrelevant. What is relevant is that you accepted 1000's of other people's coins, including some of mine, you managed to make 95% of our value vanish, you breached our contract and you refuse to release the records that would show exactly what happened.

[SebastianJu]

Hm... im just wondering how this stock thing works.

I mean normally someone builds a stock out of his company. The company has a value of $5Billion so he is selling 5Billion shares with the value of 1$ each. Because he wants to hold the company and wants to have the right to rule it he keeps 51% of the shares. The other 49% are sold.

At the end the company is nearly half owned by the shareholders. The other half is at the businessowner.

Each share has a value that is directly attached to the value of a company.

So now... diablo had no company at all. He created 1million shares. Each supposed to have a value of 1BTC. So he claimed in fact the company has a value of 1million BTC so $11Million.

But that doesnt make sense at all because the advertised 1mio btc never will be reached so the value of the company is way way lower in fact. When no more shares would have been sold and the collected btc would have been invested correctly then it simply would have been a smaller business. Giving dividends to the shareholders at the rate possible.

But does that mean that diablo owns 1mio-20909 = 979091shares? Of course not because this would mean he would be a millionaire instantly after ipo. And because of that he cant sell more shares below the ipo-price. If he had bought the shares before from his own money for one BTC then ok, then this would be his thing. But it wasnt.

So usagi... i dont get why you think it was completely fine. Though i can understand the need for making money and making your loss with DMC less hard, it was blackhat what you did. And it looks to me like you arent honest with yourself. Diablo didnt own these shares. He created money from nothing and he sold this nothing to you. Unfortunately at the same time he devalued all the other shares that were sold before for 1BTC because now there was a big part of the company owned for nearly nothing spent. And the argument that the rates were already down doesnt count because diablo wasnt a millionaire from the start. It all was the shareholders money. When diablo would have sold his own bought shares ok, but he created the value out of thin air. Hurting the value of each share that was sold.
Only saying... if you think that was completely whitehat than ok...

@nefario

What do you think... cant you hardcode the price for the initial shares? So that this doesnt happen again? On the other hand... it looks like diablo only moved the shares around and you cant check what he got for. But something must be done here i think. At the moment someone can create 1mio shares and press out as much money as possible. Giving away shares that didnt had a value from the start and he can go down with the price claiming it will be a discount while in fact it is ripping off other shareholders.
Or is there another solution? Maybe something like "IPO has to end after a month. The shares not sold are crashed."

[greyhawk]

Having a look over the DMC contract and this is interesting.

Looks like you shareholders are pretty much fucked.

First, there's this

Percent of majority   
to change contract:   66
for general motion:   66
to issue shares:   0

Seems Diablo can pump out shares pretty much as he wants.

Then there's this

Each share represents 0% of the ownership in the company assets.

You ain't got nothin.

And last but not least

Any motions raised by shareholders will be considered non-binding advisory votes.

He can do as he pleases.

[DiabloD3]

I object to a puppet account uninspiringly named puppet who has less than 100 posts and is not even a month old and frequently trolls in threads elsewhere on the forum.

I dont care if you object to that. My postcount is completely irrelevant. What is relevant is that you accepted 1000's of other people's coins, including some of mine, you managed to make 95% of our value vanish, you breached our contract and you refuse to release the records that would show exactly what happened.

How did I breach the contract?

Also, I refuse to release the records because I do not have permission from every person I've traded with to release said information. Just because they traded with me does not mean their privacy should be violated because nefario wants to exceed his authority.

[DiabloD3]

Any motions raised by shareholders will be considered non-binding advisory votes.

He can do as he pleases.

This now invalid, because it seems that DiabloD3 has breached the contract several times.

How have I breached the contract? Just saying "because I said so" or "because nefario said so" doesn't make it true.

[Puppet]

Having a look over the DMC contract and this is interesting.

Looks like you shareholders are pretty much fucked.

First, there's this

Percent of majority   
to change contract:   66
for general motion:   66
to issue shares:   0

Seems Diablo can pump out shares pretty much as he wants.

There is a difference between issuing shares and giving them (and thus early investor equity) away for free to who knows who. The latter smells like fraud to me. I have to agree that the contract and perpetual IPO plan is a giant clusterfuck and shouldnt have been allowed.

Also, I believe the zero is a result of a GLSBE bug, I remember reading that Diablo never planned on issuing extra shares.

Then there's this

Each share represents 0% of the ownership in the company assets.

You ain't got nothin.

Read the next line too.  "In the event of liquidation, 100% of the revenue from sales of the assets and 100% of the growth fund, minus any expenses incurred from the operation or liquidation of the company will be paid to shareholders."

And last but not least

Any motions raised by shareholders will be considered non-binding advisory votes.

Yeah that could become interesting and cause a mexican standoff between Nefario and Diablo. However, if nothing else, Diablo's constant misleading, flatout lies and refusal to disclose should earn him a scammer tag. Just look at the title of this thread. 140GH?