ASICMINER: Entering the Future of ASIC Mining by Inventing It

[FUR11]

It is always nice when Jutarul comes over.

His avatar is spooky as hell, but his updates are always very very rich of information and insight. I gotta say, he seems to have a decent ability of judging situations correctly and spotting opportunities (he's a shareholder since IPO) and if he says AM is kicking and alive, I believe him!
Thanks so much!

[gogxmagog]

Thanks Jutarul, it feels like pulling teeth to get any info in here. I'm a supporter, but these protracted silences are not acceptable.

Any info as to why it is so difficult for AM to get a PR team (or person) set up? They can manage to do quite a bit behind the scenes, you would think a guy who posts updates regularly wouldnt be an issue.

Anyway, thank you again, a few words is really all it takes, sorry I had to bang your cage so hard!

[hdbuck]

It is always nice when Jutarul comes over.

His avatar is spooky as hell, but his updates are always very very rich of information and insight. I gotta say, he seems to have a decent ability of judging situations correctly and spotting opportunities (he's a shareholder boardmember since IPO) and if he says AM is kicking and alive, I believe him!
Thanks so much!

ftfy

[hdbuck]

I consider hdbuck a pretty rational guy.
I also would consider him a pretty good advocate and ally of AM.
So, it's clear sentiment and patience is waning.  

TY to consider me rational
tho i must say i was being just frustrated by such silence this whole year, even if i understand FC being busy, we are still investors here..
BTC stock-market not being slightly regulated framed (i dont like the other word ^^), all we have is trust.
Anyway, as gogxmagog said, it didnt take much to restore a bit of confidence, and i renew my cheers to jutarul for lightening things up a bit in here.

[TheFuneral]

b) FC has committed to making a dividend payment soon to clear OTC and provide a new public checkpoint for shareholder balances.

Thaaaarrrr she bloowwwwwws!

It was said there would be a dividend payment in August. You know how well that went. Talk is cheap.

[kingcrimson]

I am going to make a pre-announcement to serve some open questions.
a) financials statements are currently in preparation and start getting processed next week. Dependent on how long the accountant needs, the financial statements should be accessible shortly after
b) FC has committed to making a dividend payment soon to clear OTC and provide a new public checkpoint for shareholder balances.
c) The need for a better information handling with shareholders is being recognized and it's been suggested to prepare a dedicated website to handle company matters. It's part of an internal restructuring effort. I'll let the responsible person provide more details, but I assume that suggestions from shareholders on the best way to implement it (e.g. forum, realtime chat room, ticket systems) are welcome.
d) the good news is that the company is alive and kicking. Based on my assessment they have a solid product and new stuff in the pipeline, which should allow the company to generate revenues to sustain growth. The biggest advantage of AM is its focus on cost competitiveness and solid relationships with suppliers, which allows them to grow the company organically. The bad news is that a lot of opportunity got lost in FY14 and supply chain and product problems prevented AM from generating the expected profit margins. That said FY14 has been a bad year for most companies in the mining space, and thus AM is not a particular exception.
e) AM has enough funding to stay in business independent of BTC valuation for a considerable amount of time.
f) The low valuation of AM has not gone unnoticed. While valuation is currently not an impediment to AM's business, it is recognized as a weakness and may have to be dealt with appropriately at a future point in time.

Why are you still here? Haven't you already lost people enough money with your shilling?

[Jutarul]

Any info as to why it is so difficult for AM to get a PR team (or person) set up? They can manage to do quite a bit behind the scenes, you would think a guy who posts updates regularly wouldnt be an issue.

Is there a person selected already - or is there a search still underway?

In a nutshell, the explanation for communication issues is that no clear guideline exists on which information should be released at which time and in which format. So the topic has been dealt with half-assed and procrastinated ad infinitum, and frankly FC had bigger issues to deal with than inform everybody how many problems pop up on a daily basis. That said, AM may still be the most transparent mining device supplier on the market, simply due to the need to disclose financial statements.

Yes - a person has been selected to implement a technical solution. But unless a clear information policy and schedule has been worked out it's exchanging apples for apples. I'll do my best to keep the issue alive and hopefully we can agree on something like a transparent policy guideline which doesn't preclude surprise vectors.

...
Why are you still here? Haven't you already lost people enough money with your shilling?

You may want to check the definition of a shill. My policy has always been to reflect the current state of affairs based on my perspective. Note that I was as much exposed to AM's lost opportunity than everybody else here.

[raskul]

a) financials statements are currently in preparation and start getting processed next week.

holy de-ja-vu batman.

anyone buying this rerun?

[Lincoln6Echo]

Thanks for the update Jutarul! Finally some good news

[Mabsark]

a) financials statements are currently in preparation and start getting processed next week.

holy de-ja-vu batman.

anyone buying this rerun?

What rerun? Previous financial statements:

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

Update

Financials
Balance sheet in May 27, 2014:
https://docs.google.com/spreadsheets/d/12wJMe3A6Ie8ris86m2OJ_1vucurdcVtM3fDkNCjKIRI/edit?usp=sharing

Cash flow from Feb 28, 2014 to May 27, 2014:
https://docs.google.com/spreadsheets/d/1phCAhMR-9_AaRXKICfN_M7gw4rI1hsOtRD_6PElmLOM/edit?usp=sharing

Comments about Recent News & Concerns
Policy: The bank deposits and third-party payment systems for Bitcoin exchanges in China are all closed. Workarounds exist (like buying physical cards with deposit code) but the real trading volume is severely affected.

Conversion: We have OTC conversion channels to trade USD for Bitcoins in Hong Kong.

[keystroke]

I am going to make a pre-announcement to serve some open questions.
a) financials statements are currently in preparation and start getting processed next week. Dependent on how long the accountant needs, the financial statements should be accessible shortly after
b) FC has committed to making a dividend payment soon to clear OTC and provide a new public checkpoint for shareholder balances.
c) The need for a better information handling with shareholders is being recognized and it's been suggested to prepare a dedicated website to handle company matters. It's part of an internal restructuring effort. I'll let the responsible person provide more details, but I assume that suggestions from shareholders on the best way to implement it (e.g. forum, realtime chat room, ticket systems) are welcome.
d) the good news is that the company is alive and kicking. Based on my assessment they have a solid product and new stuff in the pipeline, which should allow the company to generate revenues to sustain growth. The biggest advantage of AM is its focus on cost competitiveness and solid relationships with suppliers, which allows them to grow the company organically. The bad news is that a lot of opportunity got lost in FY14 and supply chain and product problems prevented AM from generating the expected profit margins. That said FY14 has been a bad year for most companies in the mining space, and thus AM is not a particular exception.
e) AM has enough funding to stay in business independent of BTC valuation for a considerable amount of time.
f) The low valuation of AM has not gone unnoticed. While valuation is currently not an impediment to AM's business, it is recognized as a weakness and may have to be dealt with appropriately at a future point in time.

Is there any chance of getting shares onto a distributed exchange to facilitate price discovery?

[FUR11]

I'd really love to know what Jutarul thinks is the great next thing in the pipeline. I wonder whether he is purely talking about the BE300 or if there's (another) killer product! This is going to be interesting. I hope the financial report isn't dismal. Keep in mind that we're currently financing gen 4 production and ramping up the production of the miners. Don't panic. I'll go grab some cheap shares, otherwise

[RoadStress]

That said, AM may still be the most transparent mining device supplier on the market, simply due to the need to disclose financial statements.

I am waiting since July for the self-mining hashrate or mining addresses so I wouldn't call them "the most transparent" company...

[jdany]

When BE300 comes out, where is AM's profit going to be most realized?
As a chip manufacturer.  
As a device manufacturer.
As a self miner.
As a cloud mining service.

[Chris_Sabian]

Hey Friedcat

Please provide support for the Prisma.  I've tried to email sale@bitquan.com, support@bitquan.com, and phasebird about my no hashing prisma and I've received 0 answers.  I've tried everything to get this thing to hash.  CanaryInTheMine and CrazyGuy have been very helpful but now I need actual AM support.  As a shareholder and miner, I feel extremely cheated and I probably lost my 1.47 BTC. 

[friedcat]

Upcoming Dividend Notice

Please expect that there may be a dividend with minimum value which won't be recognized as
dust transactions.

1. As discussed in the board, it serves only the purpose of clearing OTC trades and showing
the founders' shareholding status.

2. Because of 1, please do not take it as a buy/sell indication.

3. The date of resuming dividends with meaningful amount is yet to be determined. It depends
on the upcoming company performance.

[jdany]

3. The date of resuming dividends with meaningful amount is yet to be determined. It depends
on the upcoming company performance.

= 0 profit to divide?

[Dexter770221]

3. The date of resuming dividends with meaningful amount is yet to be determined. It depends
on the upcoming company performance.

= 0 profit to divide?

After expenses, that means Gen4 on schedule and theres no thread....

[CBGuy]

Does anyone know why there has not been a dividend paid for AMHASH1 units today on Havelock? If there has been anything sent out as I have not seen anything myself, could someone please share.

[arousedrhino]

Upcoming Dividend Notice

Please expect that there may be a dividend with minimum value which won't be recognized as
dust transactions.

1. As discussed in the board, it serves only the purpose of clearing OTC trades and showing
the founders' shareholding status.

2. Because of 1, please do not take it as a buy/sell indication.

3. The date of resuming dividends with meaningful amount is yet to be determined. It depends
on the upcoming company performance.

Thanks for the update!