Topic: [BitFunder] Bitcoin Pride - Bitcoin Shirts - page 2. (Read 16810 times)

Pretty sure he was just selling profit shares of an existing business. As in funds are not used to launch anything/expand, just to acquire rights to profits which the current owner sells.

So you raised thousands of BTC from IPO and hold $800 of stock?  What's the rest of capital being used for - or has the rest all vanished?

It's good to hear there is progress going on behind the scenes. In fact it's good to hear anything at all .

I'm glad this is not as bad as it seemed at the moment, price has recovered quite a bit, too.

keep going ;-)

I'm here guys, I have been busy with a bunch of different (but very very important) projects, I already responded to Benjamin in an email, as he had an issue with one of the shirts we sent him, we paid for his shipping to send it back to us and now he's waiting on his reprint.

I am happy to say that we have caught up with 99% of all of our orders and have over $800 in inventory (shirts) that we will be selling here on the forum. These shirts are IN HAND so it means they will not be drop shipped and should generate some nice profits from us this month.

Also, I am working on a deal with http://www.bluecotton.com/ (one of our shirt providers) to take all of the work off our hands so that I can do whats important for the site (marketing), and create a pathway for us to grow. We are also talking to them about giving us access to their design studio http://www.bluecotton.com/studio.html so that we can put our designs on multiple products (not only shirts) and people can customize it anyway they like.

This deal with blue cotton will not only make the business fully turn-key (as originally envisioned), but also increase our profits by giving customers the freedom to create their own products (this has already been requested in here) anyway they like.

Product expansion & revamping is also in the works, however we will not add any new products, until we have a streamlined approach to delivering them to our customers. We have had obvious problems in the past with fulfillment, and I am trying to rectify that, as it is the most detrimental thing that can happen to our business (lack of fulfillment). Customers should have their products 2 weeks from the time they order, and anything else is unacceptable.

If any investors have any issues please contact me directly, as I wish to be as transparent as possible with the asset. I too want the dividends to stay healthy, and I am working hard to preserve our little cash cow.

so guys, what's going on here?

People report massive problems with customer support and delivery (Watch out for BitcoinPride!), dividends keep falling (albeit BTC/USD is stable or even favorable), even halving compared to last month.

FlipPro doesn't say a word here for over 2 months and the value of the shares on bitfunder plummets.

FlipPro, why not just explain to us what's up?

FlipPro;

I sent an email two days ago through the support email on the website and never got a response.  Can I get some customer support please?  Unresponsive customer support makes me think maybe this isn't the best place to park my money.  Willing customers don't wait around forever to have their questions answered.  Eventually they look for another vendor.

Dividend for month of May released.

18 BTC in profits paid out.

Profit and loss coming soon.

wait dividend

Bitcoin Pride will be @ Bitcoin Convention 2013!

http://www.bitcoin2013.com/

We will be selling T-Shirts @ the BIPS (http://bips.me) booth at Bitcoins 2013.

We will be have 200 shirts at hand with us ($4,000 in inventory) available for sale.

The profits of the Bitcoin 2013 sale will be included in this months dividend payout!

Also we apologize for the lack of communication. We have been really hard at work, gearing up for the convention, and catching up on all of our outstanding orders.

If you are a customer and have not received your tracking number yet please wait 24-48 hours and we should have that ready for you.

Orders from this point forward should start processing normally.

I can provide an official pdf copy of my university transcripts too.

As a shareholder I would welcome this offer being taken.

flippro, you should change the thread title, it still says "Announcing Weekly Dividends".

FlipPro, I'm a shareholder (albiet my holdings are very, very small).  I've got my degree in economics and finance and I'd be willing to go over and audit your books like DeaDTerra does for usagi.  Contact me either here or Twitter if you're interested.

Have you ever run an ecommerce store?

Duh. Monthly dividends is the standard for a reason.


It's indeed very easy to understand: finance is a profession.

Sure.

I'm not concerned about dividends being monthly or not.

I was concerned that accounting is taking the bulk of your time. And that we are having fulfillment issues with buying and selling of bitcoins. (I see that we still have a form for it - which I'm sure reduces the number of orders.)

Please be aware that my post was meant to be in a helpful nature. My main point was: you shouldn't hesitate in telling us about the problems we are facing - because some of us may be able to help solve these problems.

And you shouldn't wait to post only when you have happy news to share.

Wisard, it's important to note that even though we have been a bit late (due to volume), we are current on ALL of our dividend payouts.

If you look at the P&L statements and the corresponding dates you will see that last weeks payments were combined.

We will have the numbers out from 4/14-4/26 soon.

I have been in the process (as I said a few posts before) of setting up new fulfillment partnerships with local printers so that we can streamline the process and cut time & money. We intend to automize 90% of the business, and when we do we may approach weekly dividends once again.

Thank you again for your continued patience.

Thank you but I guess I'll have to be the dick here and ask some hard questions.

BitPride has never had weekly dividends. No 2 dividends have ever been paid in 8 days time frame.

Also, the P&L statement we get to see is 1 table with no details. And there is no P&L statement for the last dividend payment since... there are no numbers since 14 April. If it took you time to get it done, why not share it with us too?

It shouldn't take you more than 10 minutes a day to figure out the cashflow situation of that day.
i. How many orders have come in - the total amount earned.
ii. How many orders have been fulfilled.
iii. How much new inventory has to be bought. What was the cost of that inventory.

Why this much takes you so long a time is something hard to understand.

I would appreciate instead of making this an excuse that you let us know the real hardships faced. Maybe some of us can be of help.

You're having problems fulfilling orders, ask people about it. If you've never done P&L and cashflow management before - ask someone over here and they can guide you.

I like that you listen and take action. But asking the right questions and knowing when you need help is equally important.

Financial statements are all out. There is 1 report pending for the last dividend payout.

Hope that helps. https://docs.google.com/file/d/0B8jhaL_imOkwS0Zkai1TdW1NQVU/edit?usp=sharing

Awesome! I am glad that it is going so well, thanks for the update