Diablo Mining Company

[DiabloD3]

nefario emailed me and said my account is now unlocked and also the one guy that he found that would do the audit backed out.

So, after an almost month long trip, we're exactly back to where we originally were.

Also, ABMO has shut down and has paid out a final dividend of 0.1 per share. Its sad to see Obsi go, but nefario's actions chased him off.

Current DMC holdings:
54 BTC-MINING
951 BTCMC
949.53 BTC.

[Bitcoin Oz]

nefario emailed me and said my account is now unlocked and also the one guy that he found that would do the audit backed out.

So, after an almost month long trip, we're exactly back to where we originally were.

Also, ABMO has shut down and has paid out a final dividend of 0.1 per share. Its sad to see Obsi go, but nefario's actions chased him off.

Current DMC holdings:
54 BTC-MINING
951 BTCMC
949.53 BTC.

GLBSE isnt entirely at fault and you know it.
Obsi was an anonymous person running  what seemed like a ponzi scheme and when called out on it he turned tail and ran. The best defence we have against someone running scams in future is for them to be known. If you havent noticed most of the remaining ponzi schemes have fled to cryptostocks most likely because the issuers are too chicken shit to have any personal responsibility to shareholders.

[nebulus]

Cool, thanks for sharing the info! MINING is a damn good investment.

[DiabloD3]

nefario emailed me and said my account is now unlocked and also the one guy that he found that would do the audit backed out.

So, after an almost month long trip, we're exactly back to where we originally were.

Also, ABMO has shut down and has paid out a final dividend of 0.1 per share. Its sad to see Obsi go, but nefario's actions chased him off.

Current DMC holdings:
54 BTC-MINING
951 BTCMC
949.53 BTC.

Did he ever say why you locked you down? Surly he must at least give a reason why he locked it down an asset for a month. And if he was worried about something, is he no longer worried?

He believed somehow I was stealing funds from DMC, at least, this is what he said. Problem with that is, he can look right at my account and see if I've withdrawn BTC or not.

[DiabloD3]

nefario emailed me and said my account is now unlocked and also the one guy that he found that would do the audit backed out.

So, after an almost month long trip, we're exactly back to where we originally were.

Also, ABMO has shut down and has paid out a final dividend of 0.1 per share. Its sad to see Obsi go, but nefario's actions chased him off.

Current DMC holdings:
54 BTC-MINING
951 BTCMC
949.53 BTC.

GLBSE isnt entirely at fault and you know it.
Obsi was an anonymous person running  what seemed like a ponzi scheme and when called out on it he turned tail and ran. The best defence we have against someone running scams in future is for them to be known. If you havent noticed most of the remaining ponzi schemes have fled to cryptostocks most likely because the issuers are too chicken shit to have any personal responsibility to shareholders.

Except Obsi bought back ABMO back at full IPO price, and is also (or already has) shut down the rest of his assets at no loss to the shareholders. Obsi quit because he didn't like how nefario handled DMC.

[Bitcoin Oz]

nefario emailed me and said my account is now unlocked and also the one guy that he found that would do the audit backed out.

So, after an almost month long trip, we're exactly back to where we originally were.

Also, ABMO has shut down and has paid out a final dividend of 0.1 per share. Its sad to see Obsi go, but nefario's actions chased him off.

Current DMC holdings:
54 BTC-MINING
951 BTCMC
949.53 BTC.

GLBSE isnt entirely at fault and you know it.
Obsi was an anonymous person running  what seemed like a ponzi scheme and when called out on it he turned tail and ran. The best defence we have against someone running scams in future is for them to be known. If you havent noticed most of the remaining ponzi schemes have fled to cryptostocks most likely because the issuers are too chicken shit to have any personal responsibility to shareholders.

Except Obsi bought back ABMO back at full IPO price, and is also (or already has) shut down the rest of his assets at no loss to the shareholders. Obsi quit because he didn't like how nefario handled DMC.

Its interesting that he had enough funds to pay out all of his assets except  OBSI.HRPT  which if it is indeed a ponzi means he wont be able too. Its funny that still remains on glbse 

[pyrkne]

nefario emailed me and said my account is now unlocked and also the one guy that he found that would do the audit backed out.

So, after an almost month long trip, we're exactly back to where we originally were.

Also, ABMO has shut down and has paid out a final dividend of 0.1 per share. Its sad to see Obsi go, but nefario's actions chased him off.

Current DMC holdings:
54 BTC-MINING
951 BTCMC
949.53 BTC.

GLBSE isnt entirely at fault and you know it.
Obsi was an anonymous person running  what seemed like a ponzi scheme and when called out on it he turned tail and ran. The best defence we have against someone running scams in future is for them to be known. If you havent noticed most of the remaining ponzi schemes have fled to cryptostocks most likely because the issuers are too chicken shit to have any personal responsibility to shareholders.

"When called out on it he turned tail and ran."

We only had to call him out what... five hundred times?

[EskimoBob]

Do any of you have older shares outstanding data (this is not the same as issued)?
GLBSE shows that DMC has 12773 shares outstanding
 Diabolo announced today:

Code:

iablo-D3 | I dunno, I bought almost 10k dmc shares back

[DiabloD3]

Do any of you have older shares outstanding data (this is not the same as issued)?
GLBSE shows that DMC has 12773 shares outstanding
 Diabolo announced today:

Code:

iablo-D3 | I dunno, I bought almost 10k dmc shares back

20909 before the buyout, 12773 after. There is still a standing order for the last ~2000.

[DiabloD3]

Current DMC holdings:
106 BTC-MINING
1000 BTCMC
1000 ASICMINER
86.97 BTC

Total valuation: 835.50 BTC

12773 shares outstanding

[Puppet]

Wait,  yesterday you had 949.53 BTC in "cash" on top of your BTMC shares,
and today you only have 835.50 BTC worth of assets?

Oh right, you have been repurchasing shares. An act of mercy for those who had outstanding asks, since you bought them up to 0.12 while your assets are wortrh only 835/12773 =  0.065/share.

Good job, keep it up!

BTW, right on track:

No sane investor is going to pump new money in to this and In 3 months you wont be arguing over 2000BTC anymore, but 500.

[EskimoBob]

D3, can you please start using some type of accounting/portfolio management software so you can generate reports with proper content in the future?
Someone has to be the fist to show the way

[DiabloD3]

D3, can you please start using some type of accounting/portfolio management software so you can generate reports with proper content in the future?
Someone has to be the fist to show the way

Actually, smickles wants to have DMC as his first customer of his accounting firm. Problem is, he won't have shop setup until after the first, so we might have to suffer through my horrible monthly reports one last time.

[DiabloD3]

you bought them up to 0.12

0.10. Some other guy is buying them past that, dunno who.

[Puppet]

Pray tell what on earth makes you think its a good idea to buy your own shares at 50% over NAV, when you could just as well have bought more of the exact same shares DMC holds  50% cheaper?

[DiabloD3]

Pray tell what on earth makes you think its a good idea to buy your own shares at 50% over NAV, when you could just as well have bought more of the exact same shares DMC holds  50% cheaper?

Most of them were purchased at below 0.07.

[deeplink]

This is what I get when I use the highest bid.

Current DMC holdings:
106 BTC-MINING         @    .836     =     88.6
1000 BTCMC          @        .4         =      400
1000 ASICMINER             .103        =       103
86.97 BTC

Total valuation: 678.6 BTC

12773 shares outstanding

Nav would be about .05


However that is misleading. If you were for example going to sell your 1000 BTCMC shares at market you would only get 5.3 BTC for it.

IMO I would say this is only worth a bit more than 200 BTC or has a true nav at around .015BTC Personally I would not buy above that price assuming I wanted to buy into this.

Exactly the right conclusion.

That is why I took this chance to get out.

[Puppet]

Sorry guys, that seems unfair:
BTC-MINING has a NAV close to 1 BTC / share

Where do you get its NAV from?
All I can tell from what I read on that thread is that BTC-Mining is essentially a passthrough to amazingrando. Now I dont distrust amazingrando, but he just sells a fixed MH mining bond that IMO is grossly overvalued (~.17 BTC per MH with no upgrade path to asics).

BTC-Mining itself is this:



Before and after IPO, lol I love that picture.

BTCMC has been traded for 0.4 to 0.6 /share in the last days and has a NAV of at least 0.3 /share

Agreed. And those are shares, not bonds, as far as mining investments go, this is not a bad investment (which is why Im surprised Diablo hasnt traded it for something toxic yet).

[Puppet]

cross post from usagi thread

Im calling shenanigans.

What really happened here? First, Diablo inexplicably and indefensibly sold 4000+ DMC shares to Usagi and an even bigger amount to someone else (obsi?) at less than 10% of their market value, robbing and infuriating DMC's actual shareholders who got  wiped out and got nothing in return.

Then, when DMC got  suspended for suspected fraud, after berating Diablo for being the bloody idiot he is, Usagi inexplicably change his tune 180 degrees and began backing up Diablo as if he is the greatest CEO of all times, including presenting a "plan" that is beyond indefensible, even allowing Diablo to steal all of his shareholders coins.

Diablo predictably wins the motion against him with the help of his 2 new majority shareholders who got their shares for nothing, leaving his investors, who were the only ones to really cough up coins, completely empty handed.

So DMC gets unblocked, Obsi pays out Diablo, his majority shareholder, for one of his bonds. The same day, again inexplicably and indefensibly, Diablo spends almost every coin repurchasing his own bonds all the way up 2x his own published  NAV, even though DMC is simply a holding company holding like 3 shares. Why on earth did he overpay for his own shares like that, instead of buying more of the assets he owns?

Well, now we know. Usagi got repaid for his services;
https://bitcointalk.org/index.php?topic=97178.msg1225147#msg1225147

Good job robbing DMCs shareholders blind, I hope you are all proud.

Im gonna call on Nefario to investigate this, too many things here dont make the slightest sense, unless you look at the outcome: good for Usagi, good for Diablo, probably good for Obsi, HORRIBLE for DMC investors.

[nebulus]

Well, now we know. Usagi got repaid for his services;
https://bitcointalk.org/index.php?topic=97178.msg1225147#msg1225147

You know what they say? You gotta pay your debts first, puppet...