ASICMINER: Entering the Future of ASIC Mining by Inventing It

[necro_nemesis]

...
But that has never happened. They spent $6,000,000 and earned $4,000,000.
...

This.

I agree that the financial statements are a "opaque" to a certain degree. What is clear by now is that friedcat and team decided to move cash into inventory instead of a dividend payout. While a bit of a surprise, it certainly is no reason of concern. There are many reasons to do this, with the most likely one being, that spare, unallocated fab capacity was available, so the company stocked up on inventory. The rationale behind this is likely a supply chain issue of matching short-term demand for chips with supply. I saw the list of questions earlier and will make sure that friedcat sees them.

I understand that the lack of a dividend payout creates liquidity issues for shareholders. Please be advised that dividend payouts are subject to operational parameters which are hard to predict. The earlier mentioning of an "aggressive" payout schedule was in reference to a communication by friedcat that AM does not plan to expand beyond its basic operation.

Investors don't appreciate avoidable surprises. It would appear that regardless of the merits of the decision to move cash into inventory the lack of communicating this intention caught short term shareholders off guard. Unfortunately even us hodlers have to ride through the tides of poor shareholder sentiment this situation creates. AM has an obligation to improve it's transparency if it is to continue to trade it's shares publicly as there are pitfalls in not doing so.

Thanks again Jutarul.

[CoinBomb]

When a company releases their financial statements, there is always a management statement to explain them (especially if results can be seen as poor)

I dont understand how 5 minutes to write "this looks bad but we've invested into stock instead of dividends" is too difficult.

[ace345]

When a company releases their financial statements, there is always a management statement to explain them (especially if results can be seen as poor)

I don't understand how 5 minutes to write "this looks bad but we've invested into stock instead of dividends" is too difficult.

Exactly, there is always some notes to go along with the statements which is vital for analysts and external parties to understand the strategy behind a company's decisions. What was submitted is a shockingly bad effort.. even the date on both FSs are incorrect.

[bbxx]

i wonder why friedcat stopped designing miners, mine with them and unload with high prices.
that strategy was very profitable, and was easy distributable into shareholders

opposite to selling cheap chips and giving those margins to competition, maybe that is a way to pump out bitfountain from money and market, done on purpose?

[KarmaShark]

It has been some time now since putting in a public relations individual has been listed as an action item for AM. This was brought up last summer so we are approaching a calendar year since this was tabled to the board of directors and likely has been requested from shareholders for some time before that. If the concern behind not addressing this on-going issue is too much transparency to the greater market then we can set some guidelines for what can be and cannot be communicated via PR.

From experience I can confidently say this need for further clarity is not going to dissipate, it will simply increase in scope as more investors enter the market and the exposure expands out. The only question I have that I feel needs to be addressed is why the company has little interest with public relations given the damage caused. Taking into consideration how emotionally charged the AM faithful are, I can sympathize with the lack of motivation behind sending some poor soul out to deal with investors concerns. Regardless, the fact remains that the share price and the investment sentiment surrounding the company will improve exponentially once a person is put in place. Asking for this change ad nauseam does not appear to be feasible from within the company currently, so I feel I should try something different to help both parties out in the interest of fairness.

While I feel there are several people that are qualified for this role, I would gladly take on the task of acting PR person, even if only for investors relations. I am not a board member however I hold a sizeable position in the company and come from a major smartphone and wireless communications leader in Research In Motion / BlackBerry, where I ran successful software and hardware groups focused around research and development. Part of my day to day role was to be customer facing, which meant fully grasping both sides of the equation while having the patience and understanding to communicate effectively. Public relations is often a thankless job however it is crucial to building up confidence and long lasting relationships. Much of what I use to do with software and hardware releases falls in-line with what we are experiencing with AM: Understanding development cycles, delays, politics, internal and external barriers, testing, bringing in suppliers and most importantly establishing a culture that everyone truly wants to be a part of within the company. I also now run CryptoConsultant.com, where I actively work with individuals to understand and adopt cryptocurrency in North America. I actively maintain a very public image and you can find me anywhere on the internet via the traditional social networking hangouts. You can imagine the resistance I encounter from the greater public as they slowly come to accept what cryptocurrency means to the current paradigm we live in. Thick skin is required to be effective in this area so early on.

We have an unofficial spokesperson on the board in the form of Jutarul and several other shareholders who are eager to assist in some fashion (Frantank, Smiguel, etc). I am eternally grateful for what these Men have already done and would simply like the opportunity to add to it in a positive manner that reduces work for FriedCat. Please consider this my formal willingness to assist in this critical area of the company with no expectation of compensation. I would be happy to replicate the role I currently hold within my own business and previous positions, so my time is free to the company and I am motivated to assist in any way possible going forward.

[server]

Edit: Looking to pick up 100 Direct Shares for 245BTC. PM me if interested.

Did you really pay that much ?

[bitcoin.newsfeed]

Edit: Looking to pick up 100 Direct Shares for 245BTC. PM me if interested.

Did you really pay that much ?

... it was not that much back then, it was normal share market price for company which had constant 10%+ network share + hardware sales + new products on horizon + good PR and track record + loyal shareholders base, customers and great plans and vision for future. Whats left? ******censored*******

KarmaShark, if Jutarul doesn't want to do this, you have my vote for PR person, but Friedcat is despotic leader here, nobody else has right to change something. I appreciate your effort though.

[Puppet]

come from a major smartphone and wireless communications leader in Research In Motion / BlackBerry, where I ran successful software and hardware groups focused around research and development. Part of my day to day role was to be customer facing, which meant fully grasping both sides of the equation while having the patience and understanding to communicate effectively.

Thats almost too ironic, sure sounds like you have a lot of experience with market leaders...
being driven to obsolesce in record times. Didnt AM and RIM have very similar marketshares at their peak?


http://bgr.com/2014/01/30/blackberry-us-market-share/

[Phasebird]

bitfury just got 20M USD investment.

http://www.coindesk.com/bitcoin-mining-giant-bitfury-announces-20-million-funding-round/


As we all know that when many mining companies have been trying to attract huge fiat money from out of community for capital expansion ,AM has still no any sources but its incomes for building up.    ,which is also the reason to postpone dividend payoff.

Any suggestions for AM`s growing? How to get enough money besides lending?

[bitcoin.newsfeed]

Any suggestions for AM`s growing? How to get enough money besides lending?

Start mining with own chips ! The easy solutions are often the best solutions.

AM is trying to trade off risk with rewards as much as possible when allocating chips to self-mining, franchising and sales.

May-June for air cooling and June-July for immersion cooling. They are only capable of 3PH. Most should go franchising(20PH > 80% mining share for AM) or as chips for other vendors' OEM products.

from great update one month ago:
https://bitcointalk.org/index.php?topic=99497.msg6329377#msg6329377

[novusordo]

My advice is to just keep selling at the 12-month low. Seems like the only rational thing to do.

[server]

Edit: Looking to pick up 100 Direct Shares for 245BTC. PM me if interested.

Did you really pay that much ?

... it was not that much back then, it was normal market price for company which had constant 10%+ network share + hardware sales + new products on horizon + good PR + loyal shareholders base, customers and great plans and vision for future. Whats left? ******censored*******

Back then the scummy fucks needed our coins and now they are rich they don't... Typical bitcoin entrepreneur behavior, history repeating.

My scamlist goes back as far as Tawsix so I know what I'm talking about. AM is junk from now. Sorry for your loss.

[Satan666]

Back then the scummy fucks needed our coins and now they are rich they don't... Typical bitcoin entrepreneur behavior, history repeating.

My scamlist goes back as far as Tawsix so I know what I'm talking about. AM is junk from now. Sorry for your loss.

Thanks for that insight, you've convinced me.  Please ask dogie to update his thread with the A+ rating for ASICMiner that you link to in your signature block.  

https://bitcointalk.org/index.php?topic=456691

[KarmaShark]

Edit: Looking to pick up 100 Direct Shares for 245BTC. PM me if interested.

Did you really pay that much ?

I did Good Sir! At the time the environment was widely different given the exchange rate, dividend outlook and future returns (at the time Gen2 was still road mapped for success). Anyone who bought in at the IPO did amazingly well, and anyone who bought during the proceeding historic run-up and sold near the top (4.5-5.0) did handsomely well. While I would like to see the share price increase I would rather the focus be on consistent and reliable communication for you all (and myself). If that helps boost confidence and investment, so be it.

[Zubilica]

wright now i'm hopping that R&D for 4th gen is payed, i can wait another year for some profit

[KarmaShark]

come from a major smartphone and wireless communications leader in Research In Motion / BlackBerry, where I ran successful software and hardware groups focused around research and development. Part of my day to day role was to be customer facing, which meant fully grasping both sides of the equation while having the patience and understanding to communicate effectively.

Thats almost too ironic, sure sounds like you have a lot of experience with market leaders...
being driven to obsolesce in record times. Didnt AM and RIM have very similar marketshares at their peak?


http://bgr.com/2014/01/30/blackberry-us-market-share/

Hey Puppet,



I could probably write a short novel on why RIM (now BlackBerry) lost it's hold on the consumer market, but I will leave that to someone else as it's relevance here is little to none. I did work in the company in an era when they were a major player and a market leader in certain segments like Enterprise solutions. The lesson many of us learned from watching that unfold is, never rest on your laurels and always listen to your people. Every time I have witnessed a company run into hard times, part of the problem was a lack of communication with their target audience.

It is in this spirit that I am reaching out to offer any possible assistance to bridge the gap that has formed between management and the investors who have a large say in the valuation and profitability of the company. I was one of the few individuals willing to risk my career at RIM to speak some rather unpopular truths, and I feel that was the right decision at the time. I would rather not see a similar situation play out here where investors feel neglected to the point of leaving the asset at a loss while building negative sentiment.

[server]

... I would rather the focus be on consistent and reliable communication for you all (and myself).

I don't think it's possible but you have my vote.

[server]

Back then the scummy fucks needed our coins and now they are rich they don't... Typical bitcoin entrepreneur behavior, history repeating.

My scamlist goes back as far as Tawsix so I know what I'm talking about. AM is junk from now. Sorry for your loss.

Thanks for that insight, you've convinced me.  Please ask dogie to update his thread with the A+ rating for ASICMiner that you link to in your signature block. 

https://bitcointalk.org/index.php?topic=456691

Do you have a problem with the hardware ?

[KarmaShark]

... I would rather the focus be on consistent and reliable communication for you all (and myself).

I don't think it's possible but you have my vote.

I can hardly blame you for the outlook at all Server, this is not the first time the request for more clarity has been made. Would the events from yesterday taken place if the information was communicated in a different manner? I do not know, however I would like the opportunity to try and see. Either way, I thank you for your support my friend.

[Satan666]

Back then the scummy fucks needed our coins and now they are rich they don't... Typical bitcoin entrepreneur behavior, history repeating.

My scamlist goes back as far as Tawsix so I know what I'm talking about. AM is junk from now. Sorry for your loss.

Thanks for that insight, you've convinced me.  Please ask dogie to update his thread with the A+ rating for ASICMiner that you link to in your signature block. 

https://bitcointalk.org/index.php?topic=456691

Do you have a problem with the hardware ?

Don't you think the people that will be buying AM hardware should be aware that "scammy fucks" are behind the operation?

According to dogie: "Position in the list signifies trustworthiness, the higher the better. Criteria includes the use of preorders, delayed shipping, immoral behaviour, withholding of refunds etc."

If AM shareholders have been subjected to "immoral behaviour", shouldn't AM customers be aware of this so they can take it into consideration when buying AM hardware?  Surely you don't want to see AM customers being the next victims.