[GLBSE] Bitcorp Mining Company - BTCMC 60+ GH/s, clear ASIC upgrade path.

[DiabloD3]

All dividends owed have been paid this morning to verified shareholders.

An updated balance sheet will be presented soon.....we have to make some adjustments for depreciation on the GPU miners. 

I can confirm DMC's receipt of the dividend.

[1714120175]

1714120175

[1714120175]

1714120175

[1714120175]

1714120175

[1714120175]

1714120175

[yochdog]

Balance Sheet: Feb 1, 2013

Short-term Assets
  Cash:  BTC 815.51 (majority locked in Bitcoinica liquidation)
  Accounts receivable:  0
  ASIC pre-orders, not delivered:  $8,000
  Total Short-term Assets:  BTC 815.51 + $8,000

Long-term Assets
  Capital Assets (mining equipment):  $25,000

Total assets
  Total Short-term assets:  BTC 815.51
  Total Long-term Assets:  $25,000
  Total Assets:  $25,000 + BTC 815.51 + $8,000 (not in hand) 

[DeaDTerra]

Balance Sheet: Feb 1, 2013

Short-term Assets
  Cash:  BTC 815.51 (majority locked in Bitcoinica liquidation)
  Accounts receivable:  0
  ASIC pre-orders, not delivered:  $8,000
  Total Short-term Assets:  BTC 815.51 + $8,000

Long-term Assets
  Capital Assets (mining equipment):  $25,000

Total assets
  Total Short-term assets:  BTC 815.51
  Total Long-term Assets:  $25,000
  Total Assets:  $25,000 + BTC 815.51 + $8,000 (not in hand) 

What did Bitcorps money do on bitcoinica if I may ask?
//DeaDTerra

[yochdog]

Balance Sheet: Feb 1, 2013

Short-term Assets
  Cash:  BTC 815.51 (majority locked in Bitcoinica liquidation)
  Accounts receivable:  0
  ASIC pre-orders, not delivered:  $8,000
  Total Short-term Assets:  BTC 815.51 + $8,000

Long-term Assets
  Capital Assets (mining equipment):  $25,000

Total assets
  Total Short-term assets:  BTC 815.51
  Total Long-term Assets:  $25,000
  Total Assets:  $25,000 + BTC 815.51 + $8,000 (not in hand) 

What did Bitcorps money do on bitcoinica if I may ask?
//DeaDTerra

Was there for conversion into USD to finance hardware acquisition. 

[DeaDTerra]

Balance Sheet: Feb 1, 2013

Short-term Assets
  Cash:  BTC 815.51 (majority locked in Bitcoinica liquidation)
  Accounts receivable:  0
  ASIC pre-orders, not delivered:  $8,000
  Total Short-term Assets:  BTC 815.51 + $8,000

Long-term Assets
  Capital Assets (mining equipment):  $25,000

Total assets
  Total Short-term assets:  BTC 815.51
  Total Long-term Assets:  $25,000
  Total Assets:  $25,000 + BTC 815.51 + $8,000 (not in hand) 

What did Bitcorps money do on bitcoinica if I may ask?
//DeaDTerra

Was there for conversion into USD to finance hardware acquisition. 

aouch that seems very unlucky.
//DeaDTerra

[yochdog]

Balance Sheet: Feb 1, 2013

Short-term Assets
  Cash:  BTC 815.51 (majority locked in Bitcoinica liquidation)
  Accounts receivable:  0
  ASIC pre-orders, not delivered:  $8,000
  Total Short-term Assets:  BTC 815.51 + $8,000

Long-term Assets
  Capital Assets (mining equipment):  $25,000

Total assets
  Total Short-term assets:  BTC 815.51
  Total Long-term Assets:  $25,000
  Total Assets:  $25,000 + BTC 815.51 + $8,000 (not in hand) 

What did Bitcorps money do on bitcoinica if I may ask?
//DeaDTerra

Was there for conversion into USD to finance hardware acquisition. 

aouch that seems very unlucky.
//DeaDTerra

Tell me about it.  I suppose it could end up being the opposite if it is ever paid out.  I was converting when the price was down around 4-5.  Obviously worth 500% that now. 

[Indemnified]

Balance Sheet: Feb 1, 2013

Short-term Assets
  Cash:  BTC 815.51 (majority locked in Bitcoinica liquidation)
  Accounts receivable:  0
  ASIC pre-orders, not delivered:  $8,000
  Total Short-term Assets:  BTC 815.51 + $8,000

Long-term Assets
  Capital Assets (mining equipment):  $25,000

Total assets
  Total Short-term assets:  BTC 815.51
  Total Long-term Assets:  $25,000
  Total Assets:  $25,000 + BTC 815.51 + $8,000 (not in hand) 

Would you please break down
    "Cash:  BTC 815.51 (majority locked in Bitcoinica liquidation)"

into two lines, "cash locked in Bitcoinica liquidation" and "free cash"

I would find that much more informative.

[yochdog]

749 BTC is locked in the Bitcoinica liquidation. 

[DiabloD3]

749 BTC is locked in the Bitcoinica liquidation.  

That leaves 66.51 left. Also, who did you pre-order the ASICs with? Please don't say BFL.

If you preordered with BFL, combined with the Bitcoinica loss, we're out $26k.

[yochdog]

749 BTC is locked in the Bitcoinica liquidation.  

That leaves 66.51 left. Also, who did you pre-order the ASICs with? Please don't say BFL.

If you preordered with BFL, combined with the Bitcoinica loss, we're out $26k.

They are indeed with BFL.  I have no reason to believe they are anything but delayed, and in fact am travelling to their location in the coming weeks for an in person inspection. 

Conjecture all you like, but the likelihood of fraud seems very low to me. 

Bitcoinica is in liquidation, and actually has a seemingly legitimate firm dealing with the assets.  I am cautiously optimistic that at some point we will recover a portion of the 749 BTC. 

[speeder]

If you could, would you also buy ASIC from the chinese guys?

[DiabloD3]

If you could, would you also buy ASIC from the chinese guys?

I think you mean Avalon. Its not worth it to get in on Batch #3 unless they cut the price in half and/or double the performance.

[speeder]

I see.

I don't understand much of this (well, if I did, I would mine myself, instead of investing here )

[yochdog]

I realize the current time is quite confusing, and a time of great flux. 

My hope is that in 6 months, the ASIC picture will have cleared up, we will be mining away on multiple ASIC rigs, and there will be some movement on the Bitcoinica liquidation. 

[reg]

hi, any feedback yet on bfl asic's. I heard it was about now some should be shipped? have you visited and seen them yet? anything tangible at all? R.

[BitSense Informatics]

All dividends owed have been paid this morning to verified shareholders.

An updated balance sheet will be presented soon.....we have to make some adjustments for depreciation on the GPU miners. 

yochdog,
I did not receive any dividends from this latest payout.  I've been a shareholder since before you began trading on GLBSE, and it had sounded like I had been verified from the GLBSE list.

thanks

[yochdog]

All dividends owed have been paid this morning to verified shareholders.

An updated balance sheet will be presented soon.....we have to make some adjustments for depreciation on the GPU miners. 

yochdog,
I did not receive any dividends from this latest payout.  I've been a shareholder since before you began trading on GLBSE, and it had sounded like I had been verified from the GLBSE list.

thanks

Send me a PM with your info again.  I paid out all verified holders, so somehow I must have missed you. 

[JaredR26]

Is there an exchange where BTCMC can be bought now?  Or is anyone looking to sell shares?  (And also, what prices have shares sold for recently?)

[speeder]

There are no exchange anymore, only a list of the last glbse shareholders, my initial.investment was 80 btc, and later I spent some dividends, right now I get with my shares about 2btc mo. If you make a good offer I might sell... A flood destroyed my stuff and I need new workstation...

[Otoh]

There are no exchange anymore, only a list of the last glbse shareholders, my initial.investment was 80 btc, and later I spent some dividends, right now I get with my shares about 2btc mo. If you make a good offer I might sell... A flood destroyed my stuff and I need new workstation...

BTCMC shares have paid nothing out since Oct 2012's earnings, so there is a backlog of 3 - soon to be 4 month's dividends that you might like to take in to account, but also some of the share holder's funds were trusted to the margin gambling site Bitcoinica which no mining op should have risked & was only admitted to months later so something else to bare in mind when valuing them.