Topic: [BitFunder] IceDrill.ASIC IPO (235 Thash Mining Operation powered by HashFast) - page 112. (Read 378660 times)

If IceDrill is able to raise ~6.5M dollars out of thin air they are magicians. There's no other explanation for this IPO to be filled.

To clarify. The deadline is 2 days and a little less than 8 hours from the time of this post (00:00:00 UTC, 12 August 2013).
Please see countdown:
http://www.timeanddate.com/countdown/generic?p0=1440&iso=20130812T00&year=2013&month=8&day=12&hour=0&min=0&sec=0&msg=Icedrill.ASIC%20IPO%20batch%201&csz=1

I'll ask that the above link be added to the initial post. We're a global community and timezones can be very confusing at the best of times, hence the use of UTC in all communications.

Just a note. We have no control over the technolgy and load-servicing technology behind hashfast.com. We've passed on the message to them.

so are these "private investors" the ones who are "buying" public shares and at the same time are part of the 40% ownership as well. so they are effectively more shares per "purchase"? sounds too fishy when "private investors" initial investment is never revealed - then they make a "big purchase" while at the same time retaining a portion of that 40% ownership

that's just.......
you know that being honest is the best way to go but apparently it's not worth it for this operation

If you are selling shares also at the local grocery store then the 12 August deadline does not impose
a very strong constraint :-) and certainly not one that can be checked.
To ensure that people have trust, an IPO should be much more transparent.
Nobody knows e.g. how much those "private investors" paid per share. If there is not a single market where
everybody can buy/sell under the same conditions then all sorts of manipulations are possible.

I am not saying it happened this time,  I have no information on that but there are certainly some
players in this game who have some interest in doing such manipulations...

Finally let me quote from you:

"The first batch is a initial sale of 14,500,000 (14.5 million) shares, which will be sold on BitFunder for 0.0014 BTC per share."

This was the promise and it did not happen since some of these shares were sold elsewhere, not on bitfunder.

DeadTerra

can you answer here ?
https://bitcointalksearch.org/topic/m.2898990

Was starting to think that I'd be getting my 100 btc back and reinvesting in something else.

Great news for IceDrill! Glad to see the ASCIMINER-esque IPO Payback clause as well.

I bought !

It was a slight miscalculation from my part.
The amount issued and amount available on the market is still the same
//DeaDTerra

There where 5,9 mio shares, now 6,2 mio. Are you adding shares?

Hi!
6750 Bitcoins has been brought in through bulk purchases of public shares by private investors.
This means we are one step closer to reaching the 20k BTC.
6 million shares need to be sold additionally for the IPO to reach the first goal.
//DeaDTerra

Is it possible to extend the deadline if not all shares are sold by 12th?

and then all that capital can flow back into existing companies

sorryIwasbeingdense.png

only 4 more days, this doesn't look like it will be successful! adios

I bought..

New clause added for the benefit of public investors.

Q:
It would be better if the shares had a clause where the floated shares break even first. The founders and private investors get no profit until BitFunder investors break even.
https://bitcointalksearch.org/topic/m.2889307

A:

Thanks for the feedback. After negotiations with the founders and private investors, they have unanimously agreed to amend the IPO to include this clause. Everyone believes that it is in the best interest for all parties involved.
Benefits:
No dividends will be paid to the holders of private shares until holders of public shares have received an accumulated dividend of 0.0016 BitCoin per share. After which, proceeds from mining will be distributed proportionally such that there would be no difference between floating shares or private shares.
Private shares can be converted into floating shares after all public shares have received an accumulated dividend of 0.0016 BitCoin per share.

Please note the IPO wording will be amended to include this clause and clearly marked as such.

FAQ #2 is now added to the original FAQ
https://bitcointalksearch.org/topic/m.2884487
FAQ # 2

Q1:
A:
See the Last Paragraph of IPO documentation:
“However, the operators (PetaMex in this case) retains the right to stop Digimex operations if it becomes operationally unprofitable. At that point, this agreement will automatically be terminated.”

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Q3:
A:
We have a very attractive and flexible agreement that we have signed with HF. This would allow us to purchase chips for upgrades in the most cost effective manner.

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Q4:
A:
We received confirmation from Ukyo (bitfunder founder) that buyers pay zero fees @ IPO:
These were his words:
“Buyers (currently) don't pay any fees to buy shares, only sellers pay a fee (standard on BitFunder)”.

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Q5:
A:
Please note that you are buying a share of profit of the farm. So, the operational costs need to be deducted before any dividends are distributed or reserves are taken out. The farm will have 500 Tera Hash and there would be a total of 50 million bonds (30 million float and 20 million private).

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We are aware that not all of the current outstanding questions have been answered. The answers to these will be forthcoming in the next Q&A installment as they are being finalized. We implore you to please keep your questions clear, concise and to the point as it will ensure a quicker turnaround. Direct links to these Q&As will be included in the initial post to ease navigation for newcomers and act as an FAQ reference.

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Q:
It would be better if the shares had a clause where the floated shares break even first. The founders and private investors get no profit until BitFunder investors break even.
https://bitcointalksearch.org/topic/m.2889307

A:

Thanks for the feedback. After negotiations with the founders and private investors, they have unanimously agreed to amend the IPO to include this clause. Everyone believes that it is in the best interest for all parties involved.
Benefits:
No dividends will be paid to the holders of private shares until holders of public shares have received an accumulated dividend of 0.0016 BitCoin per share. After which, proceeds from mining will be distributed proportionally such that there would be no difference between floating shares or private shares.
Private shares can be converted into floating shares after all public shares have received an accumulated dividend of 0.0016 BitCoin per share.

Please note the IPO wording will be amended to include this clause and clearly marked as such.

So, it equals to <7,5 MH/s and will raise due to reinvestment.

No, each share should be 10Mh/s.  They are selling 300k shares and keeping 200k for themselves.

But, 25% will be reinvested, so you won't get those dividends.