SkepsiDyne Integrated Node - The Bitcoin Mining Company

[Tawsix]

sell the assets to shakaru

He has already stated he is not interested in that arrangement.

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[boonies4u]

sell the assets to shakaru

He has already stated he is not interested in that arrangement.

What has he said, do you have quotes?

He does not have a right to liquidate and that is not the offer on the table.
The offer that was given and to be put before the share holders was the following.

All sin assets including Hardware, Website/hosting, GLBSE listing, or any other aspect of the opperations of SIN that could carry monitray value or assist in the operation in any way are to be transfered to SDM through the act of ABSORTBTION.

Once the assets have been transfered, they will be assesed and brought back online.

SDM will issue a new non-public ticker and exchange SDM.SIN shares for existing SIN shares to remove asset contact by Tawsix.

Opperation will continue to run under the authroity of SDM.

No offer of purchase was made on the hardware or SIN. In fact, when this matter comes to vote (I will bring it to vote my self if I have to) I have a 12% give/take share ownership in SIN and my vote will be to have the current opperation absorbed by SDM.

I am not sure about you, but I bought into this with the expectation of a fully opetaional mining farm, but due to the current management, my investment is without positive return, and now Tawsix is saying he will sell the hardware. If at any point Tawsix violates the contract he has issued through GLBSE, I will issue suit, win, and forclose on all hardware and assets currently held illigaly by Tawsix as all asset belongs to SIN.

It sounds like you two are not on the same page.

[SgtSpike]

As per the contract under which SIN was formed, I will be calling for a motion to wrap up and liquidate the company:

In the event of winding up of the organisation and liquidising of it's assets , after the payment of the organisations creditors,
the shareholders will be paid all remaining liquidity, divided equally among shares, such that one share entitles the holder
to a single share of liquidity.

I will announce when the motion is up, currently my client of GLBSE is out of date and I am waiting for Nefario to email me back with links to the updated files.  In the event of the motion passing, I will begin to sell SIN's assets and paying off the money to shareholders via GLBSE.

Let me guess - since you gave yourself half of the shares, despite not gaining that amount according to the contract you wrote, you expect to reap half the revenue from the liquidation?

[boonies4u]

As per the contract under which SIN was formed, I will be calling for a motion to wrap up and liquidate the company:

In the event of winding up of the organisation and liquidising of it's assets , after the payment of the organisations creditors,
the shareholders will be paid all remaining liquidity, divided equally among shares, such that one share entitles the holder
to a single share of liquidity.

I will announce when the motion is up, currently my client of GLBSE is out of date and I am waiting for Nefario to email me back with links to the updated files.  In the event of the motion passing, I will begin to sell SIN's assets and paying off the money to shareholders via GLBSE.

Let me guess - since you gave yourself half of the shares, despite not gaining that amount according to the contract you wrote, you expect to reap half the revenue from the liquidation?

He actually has more than half of the shares. Based on the first post, roughly 2000 IPO shares were sold. There are 10k shares in existance.

Liquidating based on total shares in existance would mean that he would be getting more than half.

If Tawsix had sold 2k shares, he should have had all but 2001 shares deleted from the SIN account.

[shakaru]

Save me the trouble of raising the motion my self.

Motion to turn over all assets and operation to SIN to SDM as per the terms above.

If you want SDM to take over. Vote NO for liquidation.

Also, acording to how GLBSE works, if shares from an ipo are not transfered out of the creating account, they do not hold voting rights or get a dividend. However, if one transfers the shares out and back in, then they do, but this would be investor fraud.

[SgtSpike]

As per the contract under which SIN was formed, I will be calling for a motion to wrap up and liquidate the company:

In the event of winding up of the organisation and liquidising of it's assets , after the payment of the organisations creditors,
the shareholders will be paid all remaining liquidity, divided equally among shares, such that one share entitles the holder
to a single share of liquidity.

I will announce when the motion is up, currently my client of GLBSE is out of date and I am waiting for Nefario to email me back with links to the updated files.  In the event of the motion passing, I will begin to sell SIN's assets and paying off the money to shareholders via GLBSE.

Let me guess - since you gave yourself half of the shares, despite not gaining that amount according to the contract you wrote, you expect to reap half the revenue from the liquidation?

He actually has more than half of the shares. Based on the first post, roughly 2000 IPO shares were sold. There are 10k shares in existance.

Liquidating based on total shares in existance would mean that he would be getting more than half.

If Tawsix had sold 2k shares, he should have had all but 2001 shares deleted from the SIN account.

Unissued shares don't count though.  He was going to issue shares to himself with half of the dividends given each month.  Then, midway through the contract period, he just decided that he was close enough (even though he was actually very far) and gave himself an equal number of shares as those that had been issued.  IIRC, he should only have around 350 shares so far.  But he gave himself the other 2700, despite the terms of the contract.

If he expects to get anything more than 350 shares worth of money out of the hardware, I'll fight it tooth and nail, and I hope the other shareholders will join me in that.

[shakaru]

sell the assets to shakaru

He has already stated he is not interested in that arrangement.

What has he said, do you have quotes?

He does not have a right to liquidate and that is not the offer on the table.
The offer that was given and to be put before the share holders was the following.

All sin assets including Hardware, Website/hosting, GLBSE listing, or any other aspect of the opperations of SIN that could carry monitray value or assist in the operation in any way are to be transfered to SDM through the act of ABSORTBTION.

Once the assets have been transfered, they will be assesed and brought back online.

SDM will issue a new non-public ticker and exchange SDM.SIN shares for existing SIN shares to remove asset contact by Tawsix.

Opperation will continue to run under the authroity of SDM.

No offer of purchase was made on the hardware or SIN. In fact, when this matter comes to vote (I will bring it to vote my self if I have to) I have a 12% give/take share ownership in SIN and my vote will be to have the current opperation absorbed by SDM.

I am not sure about you, but I bought into this with the expectation of a fully opetaional mining farm, but due to the current management, my investment is without positive return, and now Tawsix is saying he will sell the hardware. If at any point Tawsix violates the contract he has issued through GLBSE, I will issue suit, win, and forclose on all hardware and assets currently held illigaly by Tawsix as all asset belongs to SIN.

It sounds like you two are not on the same page.

That is correct

[boonies4u]

As per the contract under which SIN was formed, I will be calling for a motion to wrap up and liquidate the company:

In the event of winding up of the organisation and liquidising of it's assets , after the payment of the organisations creditors,
the shareholders will be paid all remaining liquidity, divided equally among shares, such that one share entitles the holder
to a single share of liquidity.

I will announce when the motion is up, currently my client of GLBSE is out of date and I am waiting for Nefario to email me back with links to the updated files.  In the event of the motion passing, I will begin to sell SIN's assets and paying off the money to shareholders via GLBSE.

Let me guess - since you gave yourself half of the shares, despite not gaining that amount according to the contract you wrote, you expect to reap half the revenue from the liquidation?

He actually has more than half of the shares. Based on the first post, roughly 2000 IPO shares were sold. There are 10k shares in existance.

Liquidating based on total shares in existance would mean that he would be getting more than half.

If Tawsix had sold 2k shares, he should have had all but 2001 shares deleted from the SIN account.

Unissued shares don't count though.  He was going to issue shares to himself with half of the dividends given each month.  Then, midway through the contract period, he just decided that he was close enough (even though he was actually very far) and gave himself an equal number of shares as those that had been issued.  IIRC, he should only have around 350 shares so far.  But he gave himself the other 2700, despite the terms of the contract.

If he expects to get anything more than 350 shares worth of money out of the hardware, I'll fight it tooth and nail, and I hope the other shareholders will join me in that.

If you get access to those 2 shares again, vote against the liquidation, I'm not sure how much we can trust him selling these mystery machines (unintentional scooby-do reference).

Has anyone even been able to contact Nefario lately? Though I am not currently supporting the liquidation, I hope Tawsix isn't wasting our time waiting for a reply from Nefario.

[deslok]

just so everyone is clear what has been proposed by SDM is an absoprtion of all SIN assests, all equipment operational or otherwise as well as any information will be transfered from SIN to SDM and after relocation to a SDM location and evaluation/restoration(as needed) to operate as originally intended.

[SgtSpike]

just so everyone is clear what has been proposed by SDM is an absoprtion of all SIN assests, all equipment operational or otherwise as well as any information will be transfered from SIN to SDM and after relocation to a SDM location and evaluation/restoration(as needed) to operate as originally intended.

So we have two proposed options then:
1)  All rigs are sold for cash to whomever, and the cash is distributed to shareholders proportional to their LEGITIMATE shares.
2)  SDM takes over the mining operations by physically acquiring the rigs, though they are still owned by the shareholders.

[Tawsix]

just so everyone is clear what has been proposed by SDM is an absoprtion of all SIN assests, all equipment operational or otherwise as well as any information will be transfered from SIN to SDM and after relocation to a SDM location and evaluation/restoration(as needed) to operate as originally intended.

So we have two proposed options then:
1)  All rigs are sold for cash to whomever, and the cash is distributed to shareholders proportional to their LEGITIMATE shares.
2)  SDM takes over the mining operations by physically acquiring the rigs, though they are still owned by the shareholders.

This is correct, and once I get my client updated I will set forth a motion concerning these matters.

[bulanula]

I think it is best to keep the rigs and let SDM take over.

Eg just like SIN took over dishwara guy ? Now SIN taken over by SDM ?

I think this is all a giant conspiracy so that one company controls the mining monopoly

[Tawsix]

I think it is best to keep the rigs and let SDM take over.

Eg just like SIN took over dishwara guy ? Now SIN taken over by SDM ?

I think this is all a giant conspiracy so that one company controls the mining monopoly

Actually the deal with dishwara fell through and we never actually got anything from them.

Keep in mind he'll be determining what the rigs are worth after we send them to him, as in, we have no idea and no control over what we would be getting in exchange for them.

All sin assets including Hardware, Website/hosting, GLBSE listing, or any other aspect of the opperations of SIN that could carry monitray value or assist in the operation in any way are to be transfered to SDM through the act of ABSORTBTION.

Once the assets have been transfered, they will be assesed and brought back online.

[SgtSpike]

I think it is best to keep the rigs and let SDM take over.

Eg just like SIN took over dishwara guy ? Now SIN taken over by SDM ?

I think this is all a giant conspiracy so that one company controls the mining monopoly

Actually the deal with dishwara fell through and we never actually got anything from them.

Keep in mind he'll be determining what the rigs are worth after we send them to him, as in, we have no idea and no control over what we would be getting in exchange for them.

All sin assets including Hardware, Website/hosting, GLBSE listing, or any other aspect of the opperations of SIN that could carry monitray value or assist in the operation in any way are to be transfered to SDM through the act of ABSORTBTION.

Once the assets have been transfered, they will be assesed and brought back online.

I trust him a lot more than I trust you at this point.

[boonies4u]

I think it is best to keep the rigs and let SDM take over.

Eg just like SIN took over dishwara guy ? Now SIN taken over by SDM ?

I think this is all a giant conspiracy so that one company controls the mining monopoly

Actually the deal with dishwara fell through and we never actually got anything from them.

Keep in mind he'll be determining what the rigs are worth after we send them to him, as in, we have no idea and no control over what we would be getting in exchange for them.

The shareholders never got the specifics on exactly what equipment we own. We have no way to tell what deal we will be getting when we liquidate, or if shakaru's appraisal is accurate.

I want to know exactly what assets SIN holds. If you do not provide this information, I cannot fully trust anyone's appraisal, because I have no idea what is being appraised!

[SgtSpike]

I think it is best to keep the rigs and let SDM take over.

Eg just like SIN took over dishwara guy ? Now SIN taken over by SDM ?

I think this is all a giant conspiracy so that one company controls the mining monopoly

Actually the deal with dishwara fell through and we never actually got anything from them.

Keep in mind he'll be determining what the rigs are worth after we send them to him, as in, we have no idea and no control over what we would be getting in exchange for them.

The shareholders never got the specifics on exactly what equipment we own. We have no way to tell what deal we will be getting when we liquidate, or if shakaru's appraisal is accurate.

I want to know exactly what assets SIN holds. If you do not provide this information, I cannot fully trust anyone's appraisal, because I have no idea what is being appraised!

Which is exactly the reason I don't trust Tawsix... at ALL.  It'd be extremely easy to make a quick list of all of the hardware that is owned, but he refuses.  Why?  Probably because he's a scammer, and doesn't want to be caught not telling the whole truth.

[bulanula]

I think it is best to keep the rigs and let SDM take over.

Eg just like SIN took over dishwara guy ? Now SIN taken over by SDM ?

I think this is all a giant conspiracy so that one company controls the mining monopoly

Actually the deal with dishwara fell through and we never actually got anything from them.

Keep in mind he'll be determining what the rigs are worth after we send them to him, as in, we have no idea and no control over what we would be getting in exchange for them.

The shareholders never got the specifics on exactly what equipment we own. We have no way to tell what deal we will be getting when we liquidate, or if shakaru's appraisal is accurate.

I want to know exactly what assets SIN holds. If you do not provide this information, I cannot fully trust anyone's appraisal, because I have no idea what is being appraised!

Which is exactly the reason I don't trust Tawsix... at ALL.  It'd be extremely easy to make a quick list of all of the hardware that is owned, but he refuses.  Why?  Probably because he's a scammer, and doesn't want to be caught not telling the whole truth.

Well at least somebody has a brain in these parts. Well done folks. We refuse to get scammed !!!

[boonies4u]

I think it is best to keep the rigs and let SDM take over.

Eg just like SIN took over dishwara guy ? Now SIN taken over by SDM ?

I think this is all a giant conspiracy so that one company controls the mining monopoly

Actually the deal with dishwara fell through and we never actually got anything from them.

Keep in mind he'll be determining what the rigs are worth after we send them to him, as in, we have no idea and no control over what we would be getting in exchange for them.

The shareholders never got the specifics on exactly what equipment we own. We have no way to tell what deal we will be getting when we liquidate, or if shakaru's appraisal is accurate.

I want to know exactly what assets SIN holds. If you do not provide this information, I cannot fully trust anyone's appraisal, because I have no idea what is being appraised!

Which is exactly the reason I don't trust Tawsix... at ALL.  It'd be extremely easy to make a quick list of all of the hardware that is owned, but he refuses.  Why?  Probably because he's a scammer, and doesn't want to be caught not telling the whole truth.

I will be voting against the liquidation and for the absorption. If shakaru does not find that the equipment he receives is not capable (or was, if not working now) of producing the highest hashes/sec we have run, then we know that Tawsix did not send him all the equipment.

[SgtSpike]

I think it is best to keep the rigs and let SDM take over.

Eg just like SIN took over dishwara guy ? Now SIN taken over by SDM ?

I think this is all a giant conspiracy so that one company controls the mining monopoly

Actually the deal with dishwara fell through and we never actually got anything from them.

Keep in mind he'll be determining what the rigs are worth after we send them to him, as in, we have no idea and no control over what we would be getting in exchange for them.

The shareholders never got the specifics on exactly what equipment we own. We have no way to tell what deal we will be getting when we liquidate, or if shakaru's appraisal is accurate.

I want to know exactly what assets SIN holds. If you do not provide this information, I cannot fully trust anyone's appraisal, because I have no idea what is being appraised!

Which is exactly the reason I don't trust Tawsix... at ALL.  It'd be extremely easy to make a quick list of all of the hardware that is owned, but he refuses.  Why?  Probably because he's a scammer, and doesn't want to be caught not telling the whole truth.

I will be voting against the liquidation and for the absorption. If shakaru does not find that the equipment he receives is not capable (or was, if not working now) of producing the highest hashes/sec we have run, then we know that Tawsix did not send him all the equipment.

Agreed.  I want a second set of eyes on the whole thing, and if that means shakaru manages the hardware, that's fine with me.

[shakaru]

My only real concern is that of damage and/or missing hardware. The reason I want to evaluate the rigs is that they may bench differently, maybe the settings used are not as share friendly as can be, and that during transit and former opperation that hardware may be damaged.
Secondly, depending on the amperage used, this may tax the existing SDM system which would mean that I would have to redeploy in phases as the SDM2 facility (AKA, my new houses laundry room) is having a panel upgrade and new wiring installed.

The other reason for evaluation is to figure out if the machines are also energy efficent. As of yet I do not have a manifest of SIN assets and do not know the psu used or even how rail distrobution is configured. There is a good chance that if the hardware for power is sub par, I can swap out for some of the high effency Meanwells that I used on the SDM rigs.

If this absorbtion takes place, SDM will take a break from accepting new contracts so that current opperation can maintain as well as the redesign of the newly aquired SIN division. While I do not let many fiddle with the SDM hardware, I will allow shareholders to assist in opperation if they would like and are located in the Southern California area near the 405 exit at Hawthorn in Redondo Beach.

Once the motions are up, I encourage everyone to vote how they feel is best for the current situation. If anyone has any concerns that they would like to express or questions that they would like answered, feel free to PM me or reply to this thread. At the current moment I am deep in the SDM remodel and my own home, but will be checking back on this post.