Topic: [HAVELOCK]CBCM SHA-256 Mine IPO (cancelled) - page 3. (Read 10171 times)

People keep forgetting the most important thing:


There is NO risk on their part, those who choose to "invest" in this take ALL THE RISK. They are not retaining ANY shares. Meaning if this falls apart, YOU LOSE EVERYTHING AND THEY WALK AWAY UNSCATHED. They have no incentive to keep the mine running after you bought their "shares." You've seen all the mines and businesses in this subforum, are people so stupid to throw more money in another pit?

+1 Could not have said it better. Thanks!


I was just speaking from my limited exp. running a business - it is what I would do, if I understand situation about this deal from SPTech perspective correctly.

IMO:
- SPTech is supplier here - it does not need to endorse anything - they are just selling their miners (and will host 1st round miners)...they are not organizing it, running it or telling folks what to do. They just sell miners and make nice profit.
- SPTech is the party that might gain much if IPO takes off correctly or loose badly if there are problems (SPTech CEO said it previously, that he have met with both parties and vouch for them).
- For SPTech it is a good deal - if fund is running smoothly and enough interest is gained, they will deliver and sell their miners periodically. Selling periodically to paying customer is the deal every sane company values much more than one time customers or ad hoc customers. Periodical profit, better planning of manufacturing, better managing of cash flow etc...  
- So they wanted (and possibly want) to be sole supplier of CBCM. They confirmed to CBCM that they will deliver SP10s for 1st round. But are unable to support round 2+ atm. So they simply ask their customer in good standing running hosting/mining co. to help them with delivery/hosting for further rounds. They introduced both of them and to be sure that deal will be ok, they took collateral from hoster, because they put their "name&good standing" on line being supplier in CBCMs fund. Again, I see nothing wrong or unusual with this... But what do I know may be I do not understand it and there are other reasons. As I said, just my 2cents.
Anyway, thanks for reading and GL to all.

Spondoolies explicitly stated that it does not endorse this IPO, but merely selling 35 miners and (what appears to be brokering) the hosting.  Spondoolies is either a party to this IPO (in which case the lack of endorsement is somewhat peculiar), or it is not, in which case why the "hefty collateral"?

Further, it's difficult to see how $100k collateral from cowboyminer would assure his adherence to the hosting agreement. According to Spondoolies, the collateral was taken to insure the smooth execution of this IPO.  From this it is reasonable to conclude that it will be released to cowboyminer once the IPO is over.  At that point, cowboyminer is yet to show compliance which the collateral is [presumably] meant to assure.
Could you, perhaps, explain the reasoning behind this collateral?

I see that mentality is working out well so far...




In all seriousness though, that's not the way you go about supporting an offering. I don't know what the Havelock team has told CBCM, but information and communication are your keys to success...I've seen it time and time again. Without that, you welcome speculation. When you welcome speculation, 7 pages of nonsense build up in a matter of 24 hours. In the end, nobody is happy and nothing gets done.

Kinda hard to believe I have to bring this up when we're supposed to be discussing all this with experienced professionals in finance, management and IT...

@Taras Lanovyk

Hi, thanks for this IPO, let me ask some questions:
1. "CBCM’s principals, Vitaly Pashkevych, MBA and Taras Lanovyk, boast extensive experience in IT, business development, and finance..."
- according to your LIn profile, you have experience in business dev&finance, so I guess V.Pashkevych has exp. in IT ? May you provide his LIn profile ? (did not find him among your firends on FcBook:)
2. "CBCM has reached a partnership agreements with Spondoolies-Tech to provide mining equipment. Also we booked enough space in datacenters, located in EU and USA."
- you do not have partnership agreement, as has been stated many times in this thread. You have got confirmation letter from manufacturer to deliver SP10s if you pay for them with 1st round of IPO. Either we are professionals = exact or not
3. "Dividends will consist of 70-50% of SHA-256 Mine net revenue for the period. Net revenue is defined as the total sum of Bitcoins mined, transaction fees received and net revenue from hardware sold, minus electricity, hosting, and mine maintenance costs."
- when (periodically) and where will voting take place (your website? Havelock ? do you have proper app in place to take care of this ? How will you authenticate each shareholder online for voting ? Is it ready - or just in planning phase (did not see any section on your web)?
- what will be the majority ? (2/3, 51pct ...)
4. "Every period, CBCM will reserve for reinvestment purposes a percentage of earned Bitcoins equal to 30-50% of net revenue. These investments will allow CBCM to purchase and deploy additional hardware. Time of deployment for this additional hardware will be in the best interest of unit holders."
- will your shareholders be allowed to have a say in this ? or you just buy whatever&whenever you please ? Do you have some reinvesting plan for 12m period on hand  to share with us ?
- same question goes for selling non profitable machines ? or you just sell shares not backed by miners = meaning I buy shares, but not part of physical miner - so I do not own it.
5. "We expect total monthly costs will not exceed $0.2 per 1 GHs during next 3 months, and will be lower after SP30 miners and other efficient equipment are deployed."
- Expect ? or Guarantee ? Lets be exact. Thanks.
6. You are using two words during your IPO documents - shares and units. Any difference ?

Couple general Qs.
- what investors structure are you planning for this fund ? (at least percentages XX% individual XX% small investment XX% institutional investment/groups)
- where will you plan to host ? - do you have at least 6/12 months partnership agreement in place supporting your projected hash rate increase per month ? Or do you plan to find hosters ad hoc ?
- whats your best case/worst case projections - provided that you included your most probable estimate in your Revenue forecast document ? Do you have some risk management in place, if yes, than please share briefly those two scenarios.

Calculation.
- you are selling 10GH at 0,042btc - at 640USD = 26,88USD per share.
- you are buying SP10s, which costs individuals around 2700USD at 1,4TH.
- total 140 shares per 1 SP10 = you are selling us one SP10 for 3700USD - that is about 1000USD more than from SPTech.
- First round is 5000 shares, so about 35xSP10s, that would make 35.000USD per round, 8x35.000USD = 280.000USD per all first 8 rounds (aka 2 months).
My question is this - will you plan to use that money for buying additional miners, or for other expenses, or profit ? Thanks.

Note to your Revenue forecast.
- you are calculating with cca 15% increase in diff m/m - IMO, that is not true for several months now. In fact real increase in diff is around 30%++ m/m
- if I take your forecast and we will agree on your assumptions (price of BTC/USD 640 + diff increase m/m 15) from June to end of Dec 2014 with 140 shares (aka 1 SP10) I might make around 2,2 BTC. Is it correct ? Or do I have it wrong ? Thanks.

Anyway, thank you very much Taras for your reply and time.

Just my 2cents.
- Collateral is standard procedure in deals where there are more than 2 parties that do not know each other. SPTech just covers their risks and rightly so.
- SPTech is for profit company, so If they see business opportunity, they act and make profit - I cant see anything bad with it. SPTech did not say, that it will sell miners only to individuals, or that individuals will have any advantage... So I do not see how would they screw anyone on this.
- SPTech CEO coming here and posting actively is only logical (not because some conspiracy) - he needs to protect his company good name&standing. Maybe CBCMs principals should be more active here, so SPTech CEO would not need to be defending his involvement in this IPO.

*edit* - Thanks to cowboyminer for coming in and posting! So if I understand it correctly, you & your company will be hosting round 2+ ? Can you possibly share what miners will be used ? (Ants, Dragons, other ?) Thank you very much for clearing this out!

This user even calls it a ponzi, he even says so here:

can all people just be happy and do nice to each other. The IPO is legit, if you don't believe it, then don't invest. The miner is made so nothing to worry about. A good and strong company like spondoolies is even backing this up. If you don't even trust this ipo, then investing in mining isn't for you. But please do not insult other people or tell lies.
Sabai Sabai.  

My feeling are truly hurt  . I must end it all now, the cruel, cruel world we live in.




















No one gives two flips about your ignore pictures

He might never get paid dividends but if that happens spondoolies will just repo the miners.

@raskul:  How much money did you invest in this hilarity, if you're not too embarrassed to say?  I know it's not anything interesting, since total sold is ~3BTC.
And I even promise not to rub it in when you finally lose it

So now there's you )who is not endorsing this IPO but is worried about soiling his name), cowboyminer (who provided you with a hefty deposit and docs for reasons unclear), cbcm (who didn't), and Havelock, who is bypassing cbcm and giving you the IPO take directly (though you do not endorse this IPO).

That about right?

Not true. Cowboyminer sell some of his miners and afterwards provides hosting services to cbcm
We do the same with the first round, and might do it in additional cbcm offerings, assuming we'll have in stock miners.

Do not put fake numbers in the fill area's I will find out 

Clearly this will fare better than the 235 TH/s Mine by DeaDTerra. 

No your just renting hashes from him, the mining company you intend to buy from will be out if you can get the first round bought.

I could prob right this IPO better then the OP at this point lol

CBCM
Will be buying sp-30 being held on reserve or us by spondoolies, spondoolies will then host these miners for us at the cost of " You should fill this part in" for the length of "you should fill this in as well". We will be keeping "fill"% of the company and selling fill. The total cost of the first round of miners is "fill" we have a starting capital of "fill" and will be requiring a additional amount of "fill" from investors. Our second round will be rented from cowboy miners for the amount of "fill" hashes at the price of "fill". We will be using the profits in these ways "fill should list the ways and amounts in detail"

We know both and we did the matching after it was apparent that the SP10s will be sold out and we won't be able to fulfill subsequent rounds after the first round.
We've met face 2 face with two of the people involved with Cowboyminer operation and indeed they're very nice and professionals.

They bought a lot of SP30 from us, which we will provide on time and on spec to them. The $ used as down payment is the collateral I've meant.
I'm sure they'll fulfill their obligation to sell hosted hash even without the fact the we hold substantial amount of their $
As explained, the deal is air tight and every successful round will be fulfilled fast by Cowboyminer. The first round is on us.

We agreed to get all the hosted hash the prooject needs from them, to cover rounds 2-8, asap.

cowboy miner is not the one I thought he is but, he is a very nice and was extremely helpful. He has been around for a very long time and explained to me the situation.

Cowboy mining is just selling Hashes, they have not provided 0$ or any equipment in escrow. He does not know the OP or anything about him.

The CEO account is attempting to derail the thread, clearly a sign of good leadership here.