Topic: Alpha Technology Litecoin (Scrypt) ASIC Miner Order Batch 1 Now! - page 239. (Read 529100 times)

well said! Pre-orders are out but no prototype is in existence yet. The only thing to quickly demonstrate for the pre-order was a FPGA, which who knows may also become the final product hidden in a black box ....

QFMFT
Exactly what I was thinking

It's looking to me that these guys aren't here to cut and run with the coins (but don't take my word for it, do your own due diligence for god's sake).

It seems like they have connections in India to someone who reckons they can bang out a script ASIC. After all, its just circuit boards and chips and stuff.

The problem is, that it takes more than just connections to pull something like this together.

The management of this company have yet to explain what experience they have in managing a large project, on time, in an industry it seems they don't have any experience in.

Any one of us here could go find a board design company in China or India who could make a scypt ASIC. Then you just need a website and some vague promises and.... KERCHING... preorder money flows in and hopefully you will be able to make good on all your promises about price, timescale, hashing speed etc.

Thats what is happening here. Some family in a dingy part of Manchester who know someone in India who thinks they can make an ASIC. I wonder how much of their own money the Akrams have put into this venture. I would guess little to none. Why bother? just get the preorders to pay for everything.
That way if it all goes south, just walk away.

'So sorry, our Indian partners couldn't deliver and we have already spent all the preorder money - you accepted the risk, its not our fault'

or

'Our indian partners underestimated the costs of the boards, you can still have them but they will cost 4x more and be completely uncompetitive compared to GPUs'

Not much of interest in these files but here they are anyway https://mega.co.nz/#!8sEUUIZQ!CBWadQgalEKYPRx6qQHaGXGhcMFmoFaOqaGK6dysC1g

Sheds a bit more light on who are the company directors and where Cheshire Technologies was based.

According to companies house M Akram and co was incorporated 08/04/2013 http://wck2.companieshouse.gov.uk//compdetails

Changed from MAC ACCOUNTING SOLUTIONS LIMITED 29/05/2013
But according to their site http://www.akramco.com/about.html it was started in 1986?? Anyone want to clear this up?

Definitely would be interested in what those documents have to show. I am still wondering how an accounting firm that was apparently established in 1987, with two locations only shows a 100 GBP capital.

Its interesting that they are happy to put their personal details on their accountancy site but no one wants anything to do with Alpha. We had to resort to internet sleuthing to get this info.

I've bought all the company documents for Alpha technology from the companies house UK website. I'll upload them to mega if anyone's interested. I haven't gone through them yet so I can't judge but its public record and might give those that care, an insight into the company structure.

Very well said

http://thedailywallet.com/100/the-first-litecoin-asic-alpha-technology

"A quick look into Alpha Technology (INT) Ltd (Company No: 08483921) shows a very very new company, founded only in April this year, with two directors:

MR MUHAMMAD AKRAM and MR MOHAMMED MUBASHER AKRAM, presumably a father and son team. Mr Muhammed was previously director of a dissolved Cheshire Technology Ltd, and also a director of the again recently established M AKRAM & CO Ltd.
Of course, while there is no indication that anything un-toward is going on, we would stress caution to potential buyers, in that – as the first Litecoin ASIC miner at the pre-order stage, the company is clearly not backed by any substantial funding, and should any part of the technology fail, fall through, or their contracts with the manufacturers / supply chain, or anything along that rocky-road fail – then it will be your money that is lost in the process."

here is the website for their accounting firm: http://www.akramco.com/ which was created October 16th, 2011 from the whois records. I guess Jafar is the son and also an accountant like his father. Mubasher must be the younger son and perhaps the engineer as one of the Alpha Technologies people introduced themselves here under the bitcointalk alias as one.

Stuff like that is helpful to shed some light behind this company and know who we are dealing with and if they can be trusted to an extend.

Nope. They also own an accountancy firm. Alpha Technologies was formally Cheshire Technologies. Changed its name 22nd of July 2013. Less than six months ago.

I agree, we need more assurance. Even if they were running the accounting firm for a while, there needs to be more transparency for such a risky business.

So let me get this straight. They own a dingy accountancy firm in what is possibly the shittiest part of Manchester. A derelict kebab shop and you trust them to run a multi million pound asic company??? Fair enough.

Putting that to one side. How about they clear up the company structure issue and give us some info on who actually owns and runs this thing. Maybe a bit more transparency will calm peoples nerves

I would love to hear clarifications about the issues mentioned above.

I do want to buy such hardware, but I'll wait untill I've got more proof that this organisation is legit and that the hardware is actually working. A handmade video on these hardware working correctly would be great.

The company just emailed me back regarding the addresses and names:


Wilson1973 - Looks like you were right.

Now, I doubt it is a multi year in the making Family scam! LOL

Notice the name of the shop next door

'M Akram & Co Certified Accountants'

Maybe the Akrams have lived here for a while.

Does that make them more or less trustworthy?

I guess from the tax perspective it works with listed capital at 100 GBP. My ex father in law accountant done a similar thing on his properties...

If I read it right the father resigned as director and one of the other sons joined as financial director. From what I understand Alpha-T was setup off the back of an accountant firms which one of them was already involved in (can't remember the finer detail). so it may work out better this way (at least from a tax perspective) to organise their business in this manner.

Can't rule out father and sons perhaps, but odd to change director positions within a month or so between father and each son. But either way, if they came out publicly and presented themselves in persona, maybe a lot could be cleared up?!

Odds are in favor of it being known a scam prior to that point. That's a 2 month window vs the 6-9 month time from now. Also, going back to 'risk what you can lose'.

To those talking about the website and company names, KNC had a far crappier website and no english language ability, and the person signing their emails changed constantly the first few months.

Yeah it can go south, but this is one of 3 'major' roads to Rome right now, and the first to have ties with an engineering firm.

I would say don't go buy BTC or put fiat into this, but if you have coins you can exchange out to pay for it like I am, then do so.