Topic: [Cryptostocks] Evolution Mining Investment Club - For a bigger future. (Read 4435 times)

This is a bump on the closure of Evolution Mining. EVO is closed and the buyback order for all of the investors has been placed. Please sell your shares as soon as possible.

EVO is being closed due to lack of proper funding, a buyback offer has been placed. I'm sorry to all who were interested.

I have a few shares bought in EVO.... and wondering when you are going to make an order from BFL?? or what is your plan? I have made my preorder with them back in Sept... and expecting it maybe mid march... but current posts on their forum suggest that if u order now, u will get some time in April... my advice would be to make a preorder b4 they actually release as EVERYBODY will be placing an order once they have proven they can deliver and the charts for ROI is looking grim with the potential increase in Hashing power... worth getting in early... but this only my opinion

Good thing we haven't committed and pre-ordered from BFL, boy are they dragging their feet!!!

Sorry for lack of dividends, waiting games aren't fun.

The plan is keeping static with the current until the conclusion of the vote next Saturday (November 10th) which will decide on a change in payout percentage. (perhaps a change to 20% payout)

As far as legality goes, we are in no direct violation of any laws, being we are a small investment club (under the threshold of needing special permits ~$25M USD for SEC)

So what's the plan now?
Both legally and business-wise.

Thanks to everyone for the feedback on the poll.

Unfortunately there will be no more GPU mining shares donated to the project.

@almwaysa and everyone

Poll here: https://bitcointalksearch.org/topic/evolution-mining-funding-change-118915

What I do not like is the 90-10% ratio.
it should be easier on the investors, even 50-50 is decent.
not everyone is willing to invest for a profit that might start AFTER 2 YEARS!

As promised, first prelim payout has been made! It's really not much, but something is better than nothing eh?

Club is re listed!. I will be mining for the preliminary shareholders on my single GPU. It won't be much, but you might as well get something for having your money tied up.

Everyone discussing legal, please redirect here.

https://bitcointalksearch.org/topic/the-legal-brainstorm-117434

Write off the entire bitcoin project as a religion. We could pool for the legal power to do that.

Good to see ppl start seeing lawyers. Next step would be to do it *before* you start any projects, but hey - learning is fun.


IANAL, but I agree with bitcoin.me: Don't call it a company, IPO, shares, dividends etc. Read EskimoBob's post on using "big words" in the GLBSE thread. Stay safe on that side and make it look like a game. (Something to be recommended to CryptoStocks itself as well.)

People in the forum will still understand what you're trying to do.

Youre not allowed to call them shares or even offer dividends. I dont think people are gonna send you bitcoins unless you can.

You might look into an "investment club".

If I list as a group-fund there are some strange properties, like, you cannot transfer or swap shares.

+1

From my personal research its illegal anywhere but 3rd world countries

But crowd-funding is the closet thing I've seen to allow it to be legal.

People who are doing the same thing are your best source of information.

Any lawyer that charges over $100 an hr, will be like ....Yea...that's illegal...1 billable hour please.

I'm currently working to discuss this operation with a lawyer, after that it will be reopened for trade. As for those of you who already have stock, hang tight, any legal issues and you will receive a full refund before the IPO closes. Thank everyone for the patience. If you are the owner of the public shares and would like a buyback offer in the meanwhile please PM me.

1) It's not in your contract
2) It's pretty weak/risky. Of course there is a "don't feel like continuing". You just unplug it and its over. You cannot guarantee that you will continiue so you must have a plan for stopping. What will happen if you get yourself in a GLBSE situation?

Well, at least I didn't use the slightly more menacing "jakethesnake" hey, don't forget, I love bacon!!! xD

By all means, people, send more money to a guy calling himself a rake. I mean it worked so well with the guy calling himself a scalper and the guy calling himself a pirate and the guy calling himself nefario-us

@RandomQ

Red Flags:
1. You've got a point, but I'm going to try to acquire them by November if not sooner funded by the initial investors.

2. I've only been around since summer, so you have your points on age. Age is not a synonym for wisdom, although a strong factor, I've spent all my short time learning and breathing bitcoin! I shall not, however, claim wisdom greater than thou or any other member.

I hope to start with some initial personal investments, to be managed outside of the Cryptostocks group-funding interface  , the stock is available mostly for the convenience of the smaller investor.

I really appreciate your insight!

@mobodick

If electricity or other management cost becomes an issue, I shall call a vote. Liquidate and close the operation or Raise fees to cover electricity.

There is no "don't feel like continuing" in the occasion that I AM in fact incapacitated I will make sure that there are multiple people I can trust with the ability to take over management or follow the procedure to liquidate the inventory for closing, as well as notify the fund of the change. Somewhat a "dead man's switch."

What will happen when you cannot make a profit anymore (because of electricity bills or something) or when you just don't feel like continuing anymore?

Learn from my mistakes I've made he he

Unregulated Security Trader is Illegal in the USA, Crowd funding is not. It looks like GLBSE was shutdown because of threat of actions or that they figured out that it was illegal.
I was verified on GLBSE, so if they were shutdown by a 3d party they have my information.

I see two Major Red Flags for Investors
1. You have no mining Hardware
2. You haven't been around very long

and right now I think is the worse possible time to start a new mining company, because of the problems with GLBSE closing down. Cryptostocks could close down tomorrow.

I was mining bitcoins for 4-5 months before I found this forum. I had maybe 100 posts before I started my mining company, but I already had some hardware going.

If you had any hardware even a 5000 series mining 200mhs a day, you would still have an asset.

You have to sell people on yourself and your abilities.

Like here is my friend Bob he's invest 10 BTC in me,etc
I have been mining for 30 days now with 1 BTC earned etc

Plus depending on shipping times, it could be up to 6 months before your first dividend

The reason I'm asking for your definition, is that this would be a crowd-funded operation already, would it not? I'm asking people to pool their money, so that their hashrate can rise quicker! That way everyone gets a better return.

No dividends until we have hardware, after the first 30,000 shares, however, if things are going slow, I may purchase a few singles to later buy from the fund for personal purposes.

What is your definition of "crowdfunding"?

~Jacob Green (C'mon, index me!)

I think we need to get this thread indexed fast on google, so that page doesn't show up as the first search results.  

Got a question, Are you going to have any dividends before hardware is purchased?

also, you might wanna add some "crowdfunding" somewhere to your operation, since your US based and you already released you name and county of residence.

I also died in Georgia.

So apparently there is no actual result showing me. A couple things about "Jacoby Green" on seminole county's mugshot page. xD

I'm just curious if anyone else gets the same results that I get in google with the OP's Name and county


I'm not saying the information from google is the OP, but i got some interesting results.
FYI: I always google people any time they are new to me, or want my money

UPDATE: First 10000 shares will be sold at a 0.5% discount. The early bird gets the worm!

The uniqueness of this proposition is built in growth, it is also unique in being one of the few stocks listed on Cryptostocks.

My full name is Jacob Green
I am based out of Seminole County, Florida
I can be personally contacted @ [email protected] and 225 317 9644

Bump for updated link.

As soon as the transfer confirms (probably 2 conf to go now) it will be listed in cryptostocks and posted in response to this topic. 

not tell me that in GLBSE XD

Please feel free to reply to this topic with any questions/comments/concerns. Or even ideas! Thank you.

Short Description:
     Evolution Mining is an investment club that aims on growth for the first two years.

Plans:
     Initially 100000 shares will be issued at a price of 0.1 BTC per share. 10% of the shares will be reserved (unissued) for the club manager and distributed proportionally to the amount of shares sold. 100% of all the capital raised from issuing the shares will go toward the purchase of hardware.

     Before the completion of the share distribution, shareholders will be issued every Saturday 100% PPS of the mining output.

     From the time the distribution is completed, until December 27, 2014 10% of mining profits will be issued in the form of monthly dividends on the last Saturday of every month. The other 90% will be reinvested into expanding our mining inventory. Fees will be taken strictly in the form of the 10% of shares reserved for the manager.

     Starting Sunday, December 28, 2014 the club will no longer be allocating new funds for the purchase of new hardware, instead, 100% of the mining profits will be paid out as dividends on the last Saturday of every month.

     Evolution Mining will keep continual inventory and balance reports through a Google Spreadsheet available here: http://goo.gl/la8Mj

Management Terms:
     The manager reserves the right to liquidate inventory at any point with two weeks notice without vote, and pay out 100% of the proceeds from sales as one big dividend to the members.

Our club is listed as EVO in the Cryptostocks share Exchange
available here: https://cryptostocks.com/securities/21