Topic: [CRYPTOSTOCKS] CMUC Coin Mining Union Corporation Banner add incorect ? (Read 1170 times)

The fact that they have made no further statement after the 17 feb and payed no more dividend sure makes it look bad for those unlucky who put btc's into this thing.

I think we have been had...

I hope not, they could have been profitable had they actually set up a mining corporation.

But, I think we have been had...

It sure looks like it may have been that, there's really no resonable explanation for why they don't mention the place they claim they ordered from by name so other people can avoid buying from there if what they say was true and there is no reasonable explanation to why they haven't come with any more information after there last announcement and why they haven't taken up mining again with there old hardware and payed out dividend the last 2 days.

They still haven't fixed there banner ad at cryptostocks either so it looks very unprofessional if they can't even get that to match.

Personally, I think it may have been a ponzi scheme to begin with. I emailed them a few weeks ago and never got a response. So glad I put in a sell order soon after. Sorry for everyones losses.

CMUC did put  up a vote on the 29 jan it looks like:
"Preorder new hardware (~$4.5gh/s) and replace the old one by selling it (~$8gh/s)"
Seems like they stopped updateing there twitter on the 29 jan to, after 13 messages the first 11 days there is 0 messages the last 20 days.

They made an announcement 17 feb 05:36
"We found out that the page, where we ordered in germany is down, what cant be good at all for the miners we paid.

A tradestop is not the way we can keep the shareprice stable now, but we will work out  solutions in the next days to keep our project still growing. Even when there are unexpected things happening, we are feeling responsible to our sharholders. We got scammed and  as there are so many straight-up con artists and scammers in the field of mining hardware supplier and manufacturer, we are not able to oparate full and thinking about taking legal actions.

We will pay out what we have left on our account, in the moment we are running out of bitcoins. We are stopping our activities until we will see if we get new hardware. We are sorry for inconviences caused."


No announcement on what they actually did after the vote thou, was the preorder done with funds built up from mining income and was the old asic supposed to be sold after they recieve he new hardware ?

What do they mean by "...we are not able to oparate full and thinking about taking legal actions" the miner woun't stop producing coins just because a peorder may be at risk

"We will pay out what we have left on our account, in the moment we are running out of bitcoins" is a strange thing to say to, wasen't dividend supposed to be based on mining profits, from the contract/listing
"Our second priority is to keep the dividends stable. For that up to 30 % of the mining income will be reinvested in new hardware."
so 70% or more to be payed out, how can they be running out of btc if they pay out dividend only from the daily incomes(and not some buid up reserve to even things out or something) ?

"We are stopping our activities until we will see if we get new hardware. We are sorry for inconviences caused."
Stop what activities, buying new asics/legel actions agains the people you say scammed you/mining activitys ?

"We found out that the page, where we ordered in germany is down, what cant be good at all for the miners we paid"
"We got scammed and..."
How do you know that you got scammed, how long has the site been down and what place is it you claim to have ordered from ?
And how did you pay for the miners, buy cash/bank wire/bank transfer/paypay/btc or some other way ?

the    03 Feb 05:39 they wrote
"Thank you for voting. We are going to analyse the  possibilities on the market and make then a choice. When there will be a plan to have down times - first we make a voting, so + 50% of shareholders deside where we go. "

05 Feb 04:37
"We will preorder  new miners and sell the current. Its planed, that before we turn off our miners, we will have installed the new one. This process should be done just in some hours..."
ok so it seems they at least don't sell there own hardware before getting the new ones so using build up funds for purchasing new ones i guess then.

10 Feb 04:39
"News!  We decided for two hardware manufacturer. We have been  in contact with them from the last week on and going to place a preorder for amazing fast and effective hardware. Delivery date will be soon and then at the end of the first quarter. More data to come this week, with more specs."
and it looks like they ordered from 2 diferent manufacturer, they shouldent be able to pick bad companys for both orders

14 Feb 04:44
"We will deinstall the hardware to make space for the new rigs and pay the preorders. We can keep the dividends stable for the next days."
Strange decision to uninstall the current miners they use before hey have the new ones in hand

Today it looks like there not paying out any dividend today or there exceptionally late, maby they haven't reinstalled there old mining hardware yet then.

If you look at there stock and count each sold stock they sold as 0,06 btc(some sold at higher price) witch was the introduction price they have got 90 btc in funds and payed back 9,30% of that in dividend(sofar) and from those numbers you get that they ordered for a maximum of 3,86 btc worth of bitcoins in hardware(from 2 different manufacturer) as max 30% of the mining incomes should be used for investing in new hardware and accouring to there announcements they should still have the old mining hardware left so it seems like the market is overreacting on there last statement if they possibly may have lost hardware bought for a max of around 3,86/2= 1,93 btc, so stock should at most loose 2% of it's value on that news....

A bit clearer statements according exactly what happened and how funds and mining situation looks at the moment is needed from you girls/guys behind CMUC.

To the people behind Coin Mining Union Corporation(CMUC) at Cryptostocks, you may whanna take a look at the banner add that you run at cryptostocks frontpage https://cryptostocks.com/ and/or the contract description of your stock https://cryptostocks.com/securities/76.

The banner add say "Get 2.4GH/s per 0,6 BTC share"
The contract/description say "max. 1500 shares for the price of 0.06 BTC you participate in 2,4 GH/s a share at the start of the project."

The didivdend payout(and the fact the shares cost 0.06 btc each) seems to indicate it's the add banner thats wrong..