ASICMINER: Entering the Future of ASIC Mining by Inventing It

[xhomerx10]

Now if I were to simply post a +1 to this, my post would be deleted...  how can a picture be worth a thousand words whereas a +1 be worthy of a deletion.  Aren't the both representative of the same idea?
Oops, I mean Asicminer - yay! Entering the future blah blah blah  <--- it's okay, I'm topical now.

[arnuschky]

Bookkeeping questions:

 - the "products" line in "assets" lists value of the chips produced (their production and material cost), and
 - the "materials" line in "assets" lists the unused materials bought (wafers and powerchips)

Is my understanding correct?

[RoadStress]

So selling 10% of the network hashrate and having another 20PH worth of hardware to sell along with loads of assets = worthless?

So the money from the sales got reinvested into more wavers? All of them?

[freedomno1]

I think you need to read your numbers a little more.

I'll just sit in the corner and munch some popcorn was still processing those numbers.
I guess I don't like sitting in Fiat (hmmm gen 4)

[jimmothy]

So selling 10% of the network hashrate and having another 20PH worth of hardware to sell along with loads of assets = worthless?

So the money from the sales got reinvested into more wavers? All of them?

Yes that is what it looks like.

Another way to look at it is AM bought 28PH worth of wafers, sold 8PH to cover production costs, and is now left with 20PH.

[server]

 
Chips will be sold with a loss and profit will be made in other companies ?

[xhomerx10]

Having just caught up on the last few pages in this thread, there seems to be an interesting dichotomy between established members and newbies on how they view the recent news. I can't say I have a reasonable view on it all at this point, but I'll still grab the popcorn and watch it all unfold.

 Well enjoy the popcorn but don't munch too loud!

 http://www.examiner.com/article/man-shot-and-killed-for-munching-popcorn-too-loud-during-black-swan
 
 edit - intended only as humour.

[bitcoin.newsfeed]

Chips will be sold with a loss and profit will be made in other companies ?

ELI5 current situation :

FC purchased materials for 5$ , made 10chips, sell them for 20$, then he purchased materials for 20$ and made 40chips, sell them for 80$, then he purchase material for 80$ and sell it for 320$, but again, he'll purchase material for 320$ ... and cycle continues. He's providing R&D of mining chips for whole Chinese market from own resources and then hes unloading tons of underpriced chips to his friends, or his other umbrella companies. Sadly for us is that real profit is creating elsewhere, not in AM anymore, AM is tunneled. AM is just used donkey.

It seems like this until we get answers to new round of shareholders questions. And we need answers asap. So if someone wants to add questions to the list provided before, please do. Friendlypumpkin will forward them in 1-2days.

[freedomno1]

Keeping the Questions on the Current Page to simplify it first thing people see

1) On the Balance Sheet, approximately how many chips does the current Inventory (Products + Materials) represent?

2) How many months of inventory do you estimate that represents?

3) On the Cash Flow there was significant expenses for gen3 production (~6mil USD). Does that represent the bulk of gen3 expenses, or are the expenses for gen3 going to continue (additional wafer batches ordered, etc.)?

4) When will dividends start, and how frequently will they occur?

5) What is the status of gen 3.1 (shipping to customers, I think?)? How much does it help with energy usage -- do we have final chip performance numbers yet?

6) What is the progress on gen4?

7) What is the status of self mining? What is the rollout schedule for the data centers?

8 ) What is the status of franchising partners? When can we expect to see income from them?

9) Can you please clarify this sentence from 21st April : "The dividend schedule will be aggressive, as AM will not require large sums of retained capital." < is this still actual, or meanwhile something changed?

10) What is the average selling price of AM gen3 chips (price per Gh/s)?

11) Can we please get weekly, bi-weekly or monthly updates about progress, plans, sales etc. for preventing FUD in this thread?

* What is that ~4M CNY in financial report/expenses at exchange?

* Can you please care more about your shareholders ?

12) What is the cash flow ratio between the amount of Chips Fabricated and the percentage of the batch that is dedicated to cost.

*  What is the Break Even Point of this batch of Chips?

13) What is the estimated conversion time from chip sales to dividends?

14) Will the funds from future Gen 3 chips be used to fund Gen 4 chips or distributed as a dividend, and what relative percentage of income will be used for Gen 4?

15) Previously our Asicminer farm was mining bitcoins and distributing a weekly dividend, will Asicminer update its present hash rate in the mining farm to account for current difficulty changes and to procure a secondary supply of Bitcoins to adapt for rapid changes in Bitcoin prices?
______

Finally read through it and interpreted the data
Now I want to know the cash flow ratio which is the amount of Chips Fabricated and the % of it that is cost
From 0.49-0.99/GH is the range to sell how much of that is profit for the shareholders.

Either way all the money went back into Wafer production and FC exchanged 4 K BTC to fund this batch but did not state the average exchange rate at the time of conversion, which might have been above the present exchange rate.

So selling 10% of the network hashrate and having another 20PH worth of hardware to sell along with loads of assets = worthless?

So the money from the sales got reinvested into more wavers? All of them?

Yes that is what it looks like.

Another way to look at it is AM bought 28PH worth of wafers, sold 8PH to cover production costs, and is now left with 20PH.

Based on sales that might mean B/E or Break Even was reached and the rest of the batch is profit so that is another way to calculate it without needing to consider percentages.

Would mean its selling around 71.5% profit to cost
8/28 = 28.5% Cost of Production
Munches popcorn quietly (I guess I will slurp the Slurpee ^^)

[server]

Chips will be sold with a loss and profit will be made in other companies ?

ELI5 current situation :

FC purchased materials for 5$ , made 10chips, sell them for 20$, then he purchased materials for 20$ and made 40chips, sell them for 80$, then he purchase material for 80$ and sell it for 320$, but again, he'll purchase material for 320$ ... and cycle continues. He's providing R&D of mining chips for whole Chinese market from own resources and then hes unloading tons of underpriced chips to his friends, or his other umbrella companies. Sadly for us is that real profit is creating elsewhere, not in AM anymore, AM is tunneled. AM is just used donkey.

It seems like this until we get answers to new round of shareholders questions. And we need answers asap. So if someone wants to add questions to the list provided before, please do. Friendlypumpkin will forward them in 1-2days.

Yuk, well played by the cat.

[xhomerx10]

Chips will be sold with a loss and profit will be made in other companies ?

ELI5 current situation :

FC purchased materials for 5$ , made 10chips, sell them for 20$, then he purchased materials for 20$ and made 40chips, sell them for 80$, then he purchase material for 80$ and sell it for 320$, but again, he'll purchase material for 320$ ... and cycle continues. He's providing R&D of mining chips for whole Chinese market from own resources and then hes unloading tons of underpriced chips to his friends, or his other umbrella companies. Sadly for us is that real profit is creating elsewhere, not in AM anymore, AM is tunneled. AM is just used donkey.

It seems like this until we get answers to new round of shareholders questions. And we need answers asap. So if someone wants to add questions to the list provided before, please do. Friendlypumpkin will forward them in 1-2days.

Yuk, well played by the cat.

 Friedcat for President! (of Somalia)

[VolanicEruptor]

We need to start re-photoshopping our FC pictures.  Wheres that one with the old lady holding up blades as she stands amongst the crowd of fans?  She should be holding up a rifle to her head now.  

[bitcoin.newsfeed]

... the lady in gold dress and around her lying homeless shareholders pointing middle finger on her and throwing rocks...

anyway if FC tunneled company, and fucked us, the AM will be have worse reputation than BFL in community. There will be an army of angry people bashing all AM products and future products all over the place. Nobody wants do do business with scammer.

jokes aside, we need answers for next round of questions ... then we'll know

[Ozziecoin]

Stay classy people. I don't see anyone commenting above refund a $200,000 fee that someone accidentally included in their transaction. FC did that because it was the right thing to do.

[Kosmatos]

Friedcat is cool, and if he starts something new someday, I'd consider investing in it, but I think AM's potential for divs at current share prices isn't exactly rosy. I'm a lousy day trader. TTFN

[jimmothy]

but I think AM's potential for divs at current share prices isn't exactly rosy.

I see huge potential especially at current share prices.

If AM can sell 70PH (as forecasted) in batch 3 that would earn about 60,000 btc or 0.15btc/share.

[gaba]

but I think AM's potential for divs at current share prices isn't exactly rosy.

I see huge potential especially at current share prices.

If AM can sell 70PH (as forecasted) in batch 3 that would earn about 60,000 btc or 0.15btc/share.

Imagine potential when share prices drop to 0.1BTC. Don't trust the (Fried)cat.

[Ozziecoin]

but I think AM's potential for divs at current share prices isn't exactly rosy.

I see huge potential especially at current share prices.

If AM can sell 70PH (as forecasted) in batch 3 that would earn about 60,000 btc or 0.15btc/share.

They will sell it easy as it is the most efficient or second most efficient chip on the market.

[necro_nemesis]

I guess being on the board entitles you to first class front row seating to the train wreck.

[michaelGedi]

comments from Jutarul and pumpkin would be appreciated,

doubled up shares at 0.42, after a previous average buy back in of 0.6... not a good day for me 


next round of questions has a whole lot more weight to it now