The very first discussion was that I would scoop 25% as my personal share of which I intook on average $60k a year when working 100 hour weeks. That averages about $10/hr. This is before Uncle Sam's 30-35% cut of it. The company paid out a couple million in distributions so my personal cut was less than 10% BEFORE taxes. The down payment on my house was pretty well solely from a trust fund my father left me when he DIED so please dont go spreading FUD. Also no fraud was found within my company on the multiple times it was professionally or otherwise investigated.
Thanks,
Zach
Topic: Lab Rat Data Processing, LLC (LabRatMining) Official Announcement (Read 451939 times)
June 15, 2015, 11:31:57 AM
Shareholders need to know!
https://www.scribd.com/doc/268740142/Lab-Rat-Voluntary-Petition-for-Bankruptcy?secret_password=9yPmEXYPHeZHA6n8qHFo
Over $200,000 racked up defending his company (and himself personally) from the fraud he committed knowing he could never pay it off.
https://i.imgur.com/ZVLjseF.png
Over $200,000 pocketed personally at the expense of shareholders who saw a fraction of their coins back. (We don't get to see what his mom or any other "employees" made)
https://i.imgur.com/AhBlonj.png
Looks like his mom was his "Professional CPA" for a while....
https://i.imgur.com/LQPBdV5.png
We see that his mom is a managing member at 5%...
https://i.imgur.com/Onydu7h.png
Guess now we know how he could afford the house which is purchased jointly.....
https://i.imgur.com/5qJDSNm.png
http://tax1.co.monmouth.nj.us/cgi-bin/m4.cgi?district=1337&l02=133700157____00023_________M
We can see why!
https://www.scribd.com/doc/268740142/Lab-Rat-Voluntary-Petition-for-Bankruptcy?secret_password=9yPmEXYPHeZHA6n8qHFo
Over $200,000 racked up defending his company (and himself personally) from the fraud he committed knowing he could never pay it off.
https://i.imgur.com/ZVLjseF.png
Over $200,000 pocketed personally at the expense of shareholders who saw a fraction of their coins back. (We don't get to see what his mom or any other "employees" made)
https://i.imgur.com/AhBlonj.png
Looks like his mom was his "Professional CPA" for a while....
https://i.imgur.com/LQPBdV5.png
We see that his mom is a managing member at 5%...
https://i.imgur.com/Onydu7h.png
Guess now we know how he could afford the house which is purchased jointly.....
https://i.imgur.com/5qJDSNm.png
http://tax1.co.monmouth.nj.us/cgi-bin/m4.cgi?district=1337&l02=133700157____00023_________M
wish it could've been longer.
We can see why!
June 13, 2015, 09:04:04 AM
I fall on all Scam out there... 
Another one...
I think it's my "BTC exit" venture.
I'm out of this.
BTC is a great idea driven by scammers who will destroy it in the long term.
They already destroyed my faith on it....i become a very Anti-BTC and Altcoin person and i warn every people i can about this fact, simply because i experencied it.
Die BTC and Go to jail Zach, you scammer.
This! Another one...
I think it's my "BTC exit" venture.
I'm out of this.
BTC is a great idea driven by scammers who will destroy it in the long term.
They already destroyed my faith on it....i become a very Anti-BTC and Altcoin person and i warn every people i can about this fact, simply because i experencied it.
Die BTC and Go to jail Zach, you scammer.
June 13, 2015, 07:57:30 AM
Best of luck with the proceedings.
Keep in mind the proceedings were purely a result of LR screwing investors. 
June 13, 2015, 06:17:49 AM
I fall on all Scam out there...
Another one...
I think it's my "BTC exit" venture.
I'm out of this.
BTC is a great idea driven by scammers who will destroy it in the long term.
They already destroyed my faith on it....i become a very Anti-BTC and Altcoin person and i warn every people i can about this fact, simply because i experencied it.
Die BTC and Go to jail Zach, you scammer.
Another one...
I think it's my "BTC exit" venture.
I'm out of this.
BTC is a great idea driven by scammers who will destroy it in the long term.
They already destroyed my faith on it....i become a very Anti-BTC and Altcoin person and i warn every people i can about this fact, simply because i experencied it.
Die BTC and Go to jail Zach, you scammer.
June 12, 2015, 02:56:07 AM
Oh well.
Guess ya might wanna update the website LabRat to reflect the cease of operations.
Guess ya might wanna update the website LabRat to reflect the cease of operations.
June 10, 2015, 06:10:04 PM
Very sad news, but not unexpected. 
Best of luck with the proceedings.
At least it was an interesting experiment while it lasted.
Best of luck with the proceedings.At least it was an interesting experiment while it lasted.
June 10, 2015, 03:24:14 PM
Sorry it ended this way...I remember the day labrat spoke about his idea.....way back on the early BFL forum days..
(Waves at grnbrg)..
BG4
Papersafe.org
(Waves at grnbrg)..
BG4
Papersafe.org
June 10, 2015, 12:45:42 PM
Hey all,
Due to many circumstances that have occurred since Aug-Sept of last year, LRM is no longer able to operate. Many factors contributed to this unfortunate event including lawsuit expenses, declining BTC price, and inability to host the hardware profitably anymore. Mining has ceased and the company has had to declare bankruptcy as of this time. This should not have been a total shock as almost all other mining contract based operations throughout the market have also ceased by this point, nevertheless it is highly unfortunate to have to bring this news.
Best of luck to all the bitcoiners out there,
Lab_Rat
Due to many circumstances that have occurred since Aug-Sept of last year, LRM is no longer able to operate. Many factors contributed to this unfortunate event including lawsuit expenses, declining BTC price, and inability to host the hardware profitably anymore. Mining has ceased and the company has had to declare bankruptcy as of this time. This should not have been a total shock as almost all other mining contract based operations throughout the market have also ceased by this point, nevertheless it is highly unfortunate to have to bring this news.
Best of luck to all the bitcoiners out there,
Lab_Rat
Where are the ~ 500 BTC you got back from BFL??? I got my refund already so I know you got it.
I see you switched your payment address from MegaBigPower on June 1. Have fun in prison.
Anyone have a PACER account? Any updates on the lawsuit?
June 10, 2015, 03:34:04 AM
big shocker here.
just another scam.
just another scam.
June 10, 2015, 02:42:37 AM
So I've been BFL'd, GOX'd and now Lab Rat'd... Woohoo Another thing to add to my BTC resume
Don't forget BitFunder'd.
grnbrg.
being labrat'd has hurt the most :/
June 10, 2015, 01:25:46 AM
So I've been BFL'd, GOX'd and now Lab Rat'd... Woohoo Another thing to add to my BTC resume
Don't forget BitFunder'd.grnbrg.
LOL. Yes quite true. I thought I had only hit the Trifecta... My luck (choices) really are astounding!
June 10, 2015, 01:24:16 AM
Hey all,
Due to many circumstances that have occurred since Aug-Sept of last year, LRM is no longer able to operate. Many factors contributed to this unfortunate event including lawsuit expenses, declining BTC price, and inability to host the hardware profitably anymore. Mining has ceased and the company has had to declare bankruptcy as of this time. This should not have been a total shock as almost all other mining contract based operations throughout the market have also ceased by this point, nevertheless it is highly unfortunate to have to bring this news.
Best of luck to all the bitcoiners out there,
Lab_Rat
Due to many circumstances that have occurred since Aug-Sept of last year, LRM is no longer able to operate. Many factors contributed to this unfortunate event including lawsuit expenses, declining BTC price, and inability to host the hardware profitably anymore. Mining has ceased and the company has had to declare bankruptcy as of this time. This should not have been a total shock as almost all other mining contract based operations throughout the market have also ceased by this point, nevertheless it is highly unfortunate to have to bring this news.
Best of luck to all the bitcoiners out there,
Lab_Rat
Oh well, tnx for the ride anyway. What about the assets? Sell the hardware and distribut between contractholders?
The asset liquidation and distribution are out of my hands.
Yah it was just under 2 years, with plenty of ups and downs, wish it could've been longer.
There are some other good questions since your last post as well.
Sorry it worked out this way, my biggest wish was for communication throughout the entire thing. Sometimes its hard not to believe all the naysayers. I remember you really believed in it when it started.
June 10, 2015, 12:10:07 AM
So I've been BFL'd, GOX'd and now Lab Rat'd... Woohoo Another thing to add to my BTC resume
Don't forget BitFunder'd.grnbrg.
LOL. Yes quite true. I thought I had only hit the Trifecta... My luck (choices) really are astounding!
June 09, 2015, 11:57:04 PM
So I've been BFL'd, GOX'd and now Lab Rat'd... Woohoo Another thing to add to my BTC resume
Don't forget BitFunder'd.
grnbrg.
June 09, 2015, 11:52:54 PM
So I've been BFL'd, GOX'd and now Lab Rat'd... Woohoo Another thing to add to my BTC resume
So Zach. If it is out of your hands can you please supply the details of who's hands it is in?
The asset liquidation and distribution are out of my hands.
So Zach. If it is out of your hands can you please supply the details of who's hands it is in?
June 09, 2015, 05:28:05 PM
Hey all,
Due to many circumstances that have occurred since Aug-Sept of last year, LRM is no longer able to operate. Many factors contributed to this unfortunate event including lawsuit expenses, declining BTC price, and inability to host the hardware profitably anymore. Mining has ceased and the company has had to declare bankruptcy as of this time. This should not have been a total shock as almost all other mining contract based operations throughout the market have also ceased by this point, nevertheless it is highly unfortunate to have to bring this news.
Best of luck to all the bitcoiners out there,
Lab_Rat
Due to many circumstances that have occurred since Aug-Sept of last year, LRM is no longer able to operate. Many factors contributed to this unfortunate event including lawsuit expenses, declining BTC price, and inability to host the hardware profitably anymore. Mining has ceased and the company has had to declare bankruptcy as of this time. This should not have been a total shock as almost all other mining contract based operations throughout the market have also ceased by this point, nevertheless it is highly unfortunate to have to bring this news.
Best of luck to all the bitcoiners out there,
Lab_Rat
Where are the ~ 500 BTC you got back from BFL??? I got my refund already so I know you got it.
I see you switched your payment address from MegaBigPower on June 1. Have fun in prison.
Anyone have a PACER account? Any updates on the lawsuit?
June 09, 2015, 05:05:00 PM
The asset liquidation and distribution are out of my hands.
Who is the administrator? June 09, 2015, 12:40:41 PM
Oh well, tnx for the ride anyway. What about the assets? Sell the hardware and distribut between contractholders?
The asset liquidation and distribution are out of my hands.
Yah it was just under 2 years, with plenty of ups and downs, wish it could've been longer.
Please post instructions on how to make claims against assets if/when such a process becomes available.
-Thanks!
June 09, 2015, 11:04:17 AM
Oh well, tnx for the ride anyway. What about the assets? Sell the hardware and distribut between contractholders?
What ever happened to the Refunds from BFL?
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