Topic: [BTCT.CO] [IPO-cancelled] BTCGARDEN MINER---Eyes to the horizon - page 35. (Read 198202 times)

here: http://bbs.btcman.com/forum.php?mod=viewthread&tid=3774&page=16#pid40097

I am confused by one thing:

in BTCT the listed shares is Outstanding 0 / 2400000 Issued

but also it is said the initial offering is 4,000,000 shares of BTCGARDEN,which occupies 40% of BTCSEA CO.,Ltd`s market value.

how to understand this? anything wrong?

You guys are nuts.

Ahem. 64 000 * $100 = $6 400 000.

2.5 * $6 400 000 = $16 000 000.

Still, that's quite a valuation at this stage in the game.

So these guys at the very least are looking to raise 64,000 total btc, keeping in mind 2milli shares will be sold at 0.016 with a second batch of 2 million shares being sold at even higher price, so at the minimum let's say 64000btc for a 40% going to share holders. So uh let's use 100usd as a bitcoin price. That's 64 million dollars for 40%. so you guys are giving yourselves a valuation today of $160,000,000 USD?

Thank you.So each share can get 1/10000000 of the BTCGARDEN Project's total profits?

Aiwill said they plan to deploy in three Chinese cities simultaneously, as well as having sufficient funding to finalize 2nd gen development in 2013.

Big risks, big rewards.

What is everyone's thoughts on the IPO price.  It seems kind of aggressive (meaning high).  I realize they are claiming a 35% goal, but .016/share @ 10,000,000 shares  is equal to Asicminer @ 1btc/share.  Asicminer had consistently delivered and all risk was baked off by that price.

Thoughts?

If you read the IPO a bit more carefully, share dilution is there to be used as a last resort only. They do not plan issue any more shares. All 3 conditions must be met before they issue any more shares:

1) 2x dividends paid back for the overall IPO share price; I.e., @0.16/share, they must pay back 0.032/share first.

2) No more shares will be issued until Aug 1, 2014

3) In any drastic network changes where BTCGarden may lose their targeted network portion.

Aiwill is aware that investors are wary of dilution. He will make adjustments to clarify the IPO, protecting the interests of early investors. The clause is only mentioned so investors are aware of that possibility.  More to come.

ASICMINER is currently experiencing sever internet issues while running in China, including a lot of recent criticism of small transaction blocks which is unhealthy for the network.  How do you plan on dealing with this obstacle, and how would it affect a smaller chinese bitcoin mining company right now who wants to grow fast?

wow, got one vote now.

1,2  BTCGARDEN is to be issued.  thank you for ur advice and sry for the possible misunderstanding. BTCSEA CO.,Ltd is the name of our company for this project(BTCGARDEN)and BTCSEA.COM is our exchange platform for RMB(chinese currency), the platform has no relation with this project although we used the same name when we created the platform.

3,4 we need reserve.We need to hold an amount of funds in order to meet probable demands or possible risks.

5, Yeah.Cannot be changed as well as the other necessary conditions.

6 Before of it. IPO will start just after we pass the vote.

7 No more big changes but small ones before the open date for buying.

8 We are not but will be available later, furthermore, we are going to invite some voted supervisors to come to our places.

I'm following the project with keen interest and in serious consideration,but I'm confused about a few key issues in your prospectus.

1.Which stock on earth is to be issued?BTCSEA Co.Ltd's stock or BTCGARDEN's stock?

According to the rules of stock market,if it's BTCSEA Co.Ltd's stock,then each share should be given 1/10000000 of the BTCSEA Co.Ltd's total
profits(including but not limited to BTCGARDEN's profits,e.g.BTCSEA trading platform as I know),right?In this case,I would prefer to change the name of the stock to BTCSEA.

If it's BTCGARDEN's stock,then each share should be given 1/4000000 of the BTCGARDEN Project's total profits.

Which of the above comprehension is correct?Please make an explanation for this.

2.A similar question,if you issue additional shares in the future,which will it be?(BTCSEA Co.Ltd's or BTCGARDEN's)

3.What is the pricing basis?

4.If sharp fluctuations in exchange rates occur,will you reprice the stock?

5.You declare that "Any dilution will not be allowed before Aug.1st,2014.".Is it a bottom line that can not be changed?

6.Have you set a firm date for this IPO?Before or after the test of your first batch of chips?

7.Is this the final version of your prospectus?If not,when will it be published?

8.May I go to your company for a field investigation?

Please take into consideration all these issues.Perhaps you can add a supplement concerning such issues to the prospectus.
Looking forward to your reply.Thank you.

please view bbs.btcman.com 
maybe u could get some useful info through translator

we dont want to show the contract out currently.  

have u checked the restriction for adding？

ActiveMining is capped out at 25m shares (10m goes to investors / 15m for management). There will never be more than 25m shares issued. ASICMINER has 400,000 shares issued and there will be no more dilution. Labcoin will have 10m shares issued and will not dilute. I think BTCGARDEN should go the same route. No dilution of shares.

Actually, I believe, Mr. Ken Slaughter has a few hundred thousand (200,000?) 122,539 unreleased shares that are  being saved for future use. KS made a booboo by releasing more shares after the initial IPO had ended which angered many investors.

Edit: 122,539, according to this https://bitcointalksearch.org/topic/m.2779726

I am not sure if diluting the shares is a good idea. ASICMINER, ActiveMining and Labcoin will always keep the number of shares issued at a fixed rate. I think this will be a disadvantage for people looking to invest. Maybe we can get this part of the plan changed?

10% yearly share dilution is on the table!
otherwise things sound reasonable. anyone from china can do some background due diligence on these people?