ASICMINER: Entering the Future of ASIC Mining by Inventing It

[ex-trader]

These statements need a lot more work to be useful.

Stating accounts in 3 different currencies and not cross-translating, means there's no single overall picture. Not hard to do the maths, it really should be presented that way.

The income and expenses statement - what period does this cover? (1 day, 1 week, 1 month) and what are the historic comparables?

What is really needed is a simple balance sheet, with all of it translated into BTC and a proper income and expense time series, perhaps showing weeks, months or quarters. Showing this graphically would make it really easy to see.

None of this is difficult, but given the long-awaited release this is not great quality information. Where is the professional accountant or the PR person - both seem absent to me......

[velacreations]

I was also hoping for a bit of information rather than just historic information that is not really all that surprising? Where in the development of the 2nd 2ndgen are we? I see 200k of NRE in the budget. Is that for tape-out for the new ones or for the old 2nd-gen?

why were you expecting that information?

[velacreations]

Where is the professional accountant or the PR person - both seem absent to me......

does AM employ either?

[data]

I was also hoping for a bit of information rather than just historic information that is not really all that surprising?

why were you expecting that information?

Hope != expect

[dexX7]

I also hoped for an actual update and the immersion cooling video. But given the fact that an earlier update stated that funds for a 40 nm mask are collected and NRE costs of  $ 210,119.50 were shown, I call this good news. - Gen 2 seems to be already in progress.

[Pompobit]

I also hoped for an actual update and the immersion cooling video. But given the fact that an earlier update stated that funds for a 40 nm mask are collected and NRE costs of  $ 210,119.50 were shown, I call this good news. - Gen 2 seems to be already in progress.

*

[lophie]

Thank you FC, So guys is this what we were expecting? information that we already know?

[bitcoin.newsfeed]

Thank you FC, So guys is this what we were expecting? information that we already know?

No. I mean ... OK its kinda financial report ... but ... seems like Friedcat doesn't give a shit about what we are writing in this thread anymore. In past days we had a shitload of rumors here, and also its end of October.

[ex-trader]

Where is the professional accountant or the PR person - both seem absent to me......

does AM employ either?

There were long-time repeated claims that AM was getting both....

[San1ty]

Thank you FC, So guys is this what we were expecting? information that we already know?

Look at the share price dropping like a rock

[velacreations]

Where is the professional accountant or the PR person - both seem absent to me......

does AM employ either?

There were long-time repeated claims that AM was getting both....

really?  could you give us a link to where FC said that?  I don't remember it.

[velacreations]

Thank you FC, So guys is this what we were expecting? information that we already know?

what were you expecting?

I, for one, didn't know the exact figures for costs and expenses.  I also didn't know the figures for hardware sales.

[smilence]

Financial Reports

Balance Sheet (Public Version): https://docs.google.com/spreadsheet/ccc?key=0Al1fvFT7Sd5bdDlHek0tem01M2IzSnhDUjBHbWI4dmc&usp=sharing

Cashflow (Public Version): https://docs.google.com/spreadsheet/ccc?key=0Al1fvFT7Sd5bdDh0enIxT0pycEVkZ2h6TE1BZ0dZd0E&usp=sharing

Income (Public Version): https://docs.google.com/spreadsheet/ccc?key=0Al1fvFT7Sd5bdExaZzlQMXhwNl83Y2JlM19zeEpTa1E&usp=sharing
  with Expense Listings (Public Version): https://docs.google.com/spreadsheet/ccc?key=0Al1fvFT7Sd5bdERwbENzbDFvMWpHWEVSOWpoc2dlVGc&usp=sharing

NRE USD WTF?

Non-recurring expense I think..

[freedomno1]

Financial Reports

Balance Sheet (Public Version): https://docs.google.com/spreadsheet/ccc?key=0Al1fvFT7Sd5bdDlHek0tem01M2IzSnhDUjBHbWI4dmc&usp=sharing

Cashflow (Public Version): https://docs.google.com/spreadsheet/ccc?key=0Al1fvFT7Sd5bdDh0enIxT0pycEVkZ2h6TE1BZ0dZd0E&usp=sharing

Income (Public Version): https://docs.google.com/spreadsheet/ccc?key=0Al1fvFT7Sd5bdExaZzlQMXhwNl83Y2JlM19zeEpTa1E&usp=sharing
  with Expense Listings (Public Version): https://docs.google.com/spreadsheet/ccc?key=0Al1fvFT7Sd5bdERwbENzbDFvMWpHWEVSOWpoc2dlVGc&usp=sharing

Time to process thanks
Been waiting to get some calculation done for a while
Very rough 4 mill assets PE- 12-15 ?
Hmm well guess I'll read more later sort of clearer thanks

[silvermario]

Thank you FC, So guys is this what we were expecting? information that we already know?

what were you expecting?

I, for one, didn't know the exact figures for costs and expenses.  I also didn't know the figures for hardware sales.

I was expecting at least as much information as he told some random chinese girl what allowed her and the people from the chinese subforum to insider trading the AM securities.

[velacreations]

I was expecting at least as much information as he ALLEGEDLY told some random chinese girl what allowed her and the people from the chinese subforum to insider trading the AM securities.

FTFY

oh, so you were expecting him to give information beyond what he promised?

Why were you expecting that information?  Did FC ever make any sort of indication that today would be an announcement on anything other than the financial report?

[silvermario]

I was expecting at least as much information as he ALLEGEDLY told some random chinese girl what allowed her and the people from the chinese subforum to insider trading the AM securities.

FTFY

oh, so you were expecting him to give information beyond what he promised?

Why were you expecting that information?  Did FC ever make any sort of indication that today would be an announcement on anything other than the financial report?

Buy the rumors, sell the news.

The AM share price trend was downward until posting the rumors about an interview with friedcat so many bought shares expecting some really good news from friedcat.
Sadly there wasn't any so we are back to the downward trend.
I think you don't have to be a brilliant investor to predict the price movement now.

[SebastianJu]

What about the board members? Friedcat not around there too? It worked 2 times so far that board members created a post for friedcat and he posted it here. So he safed time. Now its silence again since a long time. It really looked promising when they started it.

[Vycid]

My takehome message from this is asicminer's income was 2 orders of magnitude higher than expense this quarter. (And they get really cheap electricity.)

I don't know what inference can be made about the electricity. Assuming ~50TH means ~5000 blades at 75W each, running 24 hours a day, we get 9000 kWh/day.

The question is - what period of time does the report represent? Probably 1 quarter, so ~90 days. So we get 810000 kWh for 760,035.12￥, or 0.9383￥/kWh.

That converts to 0.15 $/kWh. Color me very unimpressed. I thought it was about $0.07/kWh.

(If that is the case, then perhaps the statement is for 180 days - the financial half.)

As for their income being 2 orders of magnitude higher than expense, that is a bad thing. That means as their margins shrink, their profits have a long way to fall from their current levels. You want profits to be due to high revenues, not low expenses... Not to mention that AM's hardware will shortly be out of date.

[ex-trader]

It's impossible to determine anything given they haven't bothered to show the most fundamental piece of information i.e. what period does it cover....

AM might be expert at chips, but it does not understand shareholder communication or financial reports.