Before: Highest Bid: 0.062
After: Highest Bid: 0.0005
Adjusted for 3 x increase in bonds = 0.004
Each bond is suddenly worth 15.5 times less.
Fuck that - I'm not standing for it. This is going to raise hell.
Topic: Lab Rat Data Processing, LLC (LabRatMining) Official Announcement - page 102. (Read 452224 times)
March 09, 2014, 08:56:02 AM
March 09, 2014, 07:16:05 AM
Labrat, your bond's price is so low after the BitFounder closed, because it lack of liquidity. I suggest you put the bonds on the exchange such as havelockInvestment. So that you can sell more bonds to purchase hardwares like before, win-win of us.
March 09, 2014, 06:46:46 AM
I dont have any words to say anymore... first i got goxed w lil over 30k euros and am waiting a solution from them and now i'll be waitin a solution from LRM. Guess i wont be making money this year.
March 09, 2014, 05:33:16 AM
Please try to be patient as more information is released over the next week or two.
You think we haven't be enough patient with you huh
I invested more than 24 BTC for 72gh/s....are you kidding...after all the Time the bondholders wait with your false promise, your lack of communication....
And now new hardware is coming and you'll issue new bonds? How easy....
Yes, you are a liar because you Know about That situation month ago and you promise new TH/s, you bought new hardware, you premined the f**k out for more than 2 week at the 1000 $/BTC rate.
If this just à bond definition, split with futur hashrate, no problem.
But if you want to f**k us, this is the good move, but be prepared to be sued and blacklisted in the bitcoin community.
March 09, 2014, 04:58:08 AM
LabRat:
Is there any new hardware delivered?
LabRat, u have 1 week to solve this shit until next dividends.
Also answer about new hardware. Or u have put it already on LAB RAT HOSTING SERVICES, L.L.C.?
Because every time u order something from BF its late with delivery. So i think that u have already received new hardware. Waiting "week or two" is not the option.
Is there any new hardware delivered?
Quote
Based upon recent developments in US and local laws, Lab Rat Data Processing, and their legal representatives, have determined a potential current or future problem with its current rate structure, which was originally intended as a variable rate payout. Therefore, Lab Rat Data Processing is amending its variable rate payout with a set rate payout of 100 MH/s per contract. This rate payout shall be for all current contract-holders and all future contract-holders. Contemporaneous with the change from a varying rate payout to a set rate payout Lab_Rat will triple the amount of contracts held by all contract holders as of the date of March 8, 2014.
LabRat, u have 1 week to solve this shit until next dividends.
Also answer about new hardware. Or u have put it already on LAB RAT HOSTING SERVICES, L.L.C.?
Because every time u order something from BF its late with delivery. So i think that u have already received new hardware. Waiting "week or two" is not the option.
March 09, 2014, 04:23:26 AM
There are issues with a percentage being considered shares and a contract being considered a sale. I will attempt to clarify more over the course of next week when I have more legal documentation to explain.
Also, I've done the math and liquidating the company's assets will turn out worse for the contract-holders as well as myself (rather than paying out "dividends").
Hardware just doesn't sell for what it did in may 2013......
Also, I've done the math and liquidating the company's assets will turn out worse for the contract-holders as well as myself (rather than paying out "dividends").
Hardware just doesn't sell for what it did in may 2013......
There is no issue with a contract being called a sale in virtually any jurisdiction in the world Zach. Cell phones anyone?
The only way this is going to end is with a lot of lawsuits for breach of contract.
March 09, 2014, 03:43:47 AM
There are issues with a percentage being considered shares and a contract being considered a sale. I will attempt to clarify more over the course of next week when I have more legal documentation to explain.
Also, I've done the math and liquidating the company's assets will turn out worse for the contract-holders as well as myself (rather than paying out "dividends").
Hardware just doesn't sell for what it did in may 2013......
Also, I've done the math and liquidating the company's assets will turn out worse for the contract-holders as well as myself (rather than paying out "dividends").
Hardware just doesn't sell for what it did in may 2013......
I've sent you a PM about this -
You can buy a web hosting contract with 10gb disk space, and the web hosting contract can increase your disk space to 100gb in order to stay competitive and provide a valuable product for what you've paid. This is the route LRM should go down.
March 09, 2014, 01:12:42 AM
There are issues with a percentage being considered shares and a contract being considered a sale. I will attempt to clarify more over the course of next week when I have more legal documentation to explain.
Also, I've done the math and liquidating the company's assets will turn out worse for the contract-holders as well as myself (rather than paying out "dividends").
Hardware just doesn't sell for what it did in may 2013......
Also, I've done the math and liquidating the company's assets will turn out worse for the contract-holders as well as myself (rather than paying out "dividends").
Hardware just doesn't sell for what it did in may 2013......
Thanks for addressing this, even if it was minimal. Because even that little kinda makes sense already, but I will wait for you to clarify. By the way, one other way this can be configured is to revamp and call yourself a hosting service. That way, ALL problems of dealing with contracts, bonds or shares are solved.
So, I think the most important thing going on here isn't what is a share or bond or a contract. Because something can be figured out to keep the dividends fair as expected.
The tripling of "bonds" or if you want to call them "contracts" resolves it, for now.
But what really seems the most important issue, is what is up with the 156TH you had planned to put online this month. You haven't said that that is any different, so, I expect it will go live sometime this month...That is what really seems to matters right now, and also the potential in view for new hardware purchases.
And then, when the 156TH goes live, what will you do with the payout schema? Send out 7 bonds/contracts for each of the 3 bonds/contracts that were given for original single bond/contracts?
Also, is the 1PH by year end still an easy target?
March 09, 2014, 01:07:24 AM
First of all, to get that, he should have reached us when this "legal" problems came, that way, we can work out a solution, as he claims he's been on this for weeks and we just got the "screw them" solution.
I've different definitions of his management in general, let alone a huge dissapointment on the "solution" he never tried to discuss, he just posted it.
I've different definitions of his management in general, let alone a huge dissapointment on the "solution" he never tried to discuss, he just posted it.
Your average company isn't as vocal or caring as I've been for the last 8 months. They give the "screw you" solution whereas I have stuck by my contract-holders through countless hurdles including delayed hardware, bitfunder closing, and countless other issues that have occurred behind the scenes and publicly. I have bit the bullet on many issues that have negatively effected me. Please try to be patient as more information is released over the next week or two.
Lab_Rat when there is a situation like you are dealing with that you were aware of few weeks/months back , you should have kept all investors informed right from the very beginning at the same time when you were sharing the promise of future growth plans for LRM & future hashrate prospects.
I hope you are able to understand how empty & fake you & your future hashrate promises appear now knowing what you knew few weeks back. I still don't understand why are you so afraid & appear to be in fear when comes to sharing bad news with investors , if you were open about this you would have had much better response than what you have now. I hope you have learned some thing from this {Dont live in fear} .
Unless you are in here to cheat us all.
March 09, 2014, 12:57:27 AM
Sorry, but no, im not patient anymore. Waited 6 weeks and you come up with this when this was our month to launch.
As part of what your Defense of your work, you thought moving a Million dollars would be easy? you thought starting this up was going to be plug and rest?
You were naive as hell if you thought that, it was your task we paid for it, nothing was free, you put up the terms and we agreed, it wasnt backwards, we didnt force you to anything, it was all your math and offering, you dont get an award for sticking up, it was your commitment with us, and you did as best, poorly in the comunication field, as far as the rest, ive no idea, i just know i lost 90% of my invested bitcoins.
As part of what your Defense of your work, you thought moving a Million dollars would be easy? you thought starting this up was going to be plug and rest?
You were naive as hell if you thought that, it was your task we paid for it, nothing was free, you put up the terms and we agreed, it wasnt backwards, we didnt force you to anything, it was all your math and offering, you dont get an award for sticking up, it was your commitment with us, and you did as best, poorly in the comunication field, as far as the rest, ive no idea, i just know i lost 90% of my invested bitcoins.
March 09, 2014, 12:53:45 AM
First of all, to get that, he should have reached us when this "legal" problems came, that way, we can work out a solution, as he claims he's been on this for weeks and we just got the "screw them" solution.
I've different definitions of his management in general, let alone a huge dissapointment on the "solution" he never tried to discuss, he just posted it.
I've different definitions of his management in general, let alone a huge dissapointment on the "solution" he never tried to discuss, he just posted it.
Your average company isn't as vocal or caring as I've been for the last 8 months. They give the "screw you" solution whereas I have stuck by my contract-holders through countless hurdles including delayed hardware, bitfunder closing, and countless other issues that have occurred behind the scenes and publicly. I have bit the bullet on many issues that have negatively effected me. Please try to be patient as more information is released over the next week or two.
March 09, 2014, 12:50:45 AM
First of all, to get that, he should have reached us when this "legal" problems came, that way, we can work out a solution, as he claims he's been on this for weeks and we just got the "screw them" solution.
I've different definitions of his management in general, let alone a huge disappointment on the "solution" he never tried to discuss, he just posted it.
I've different definitions of his management in general, let alone a huge disappointment on the "solution" he never tried to discuss, he just posted it.
Unfortunately for us Zach has always dropped a nuke post after being away for quite some time , this pattern which repeats every time Zach is away for long time
, I hope he doesn't do the same to his real friend & family too ! March 09, 2014, 12:44:11 AM
First of all, to get that, he should have reached us when this "legal" problems came, that way, we can work out a solution, as he claims he's been on this for weeks and we just got the "screw them" solution.
I've different definitions of his management in general, let alone a huge dissapointment on the "solution" he never tried to discuss, he just posted it.
I've different definitions of his management in general, let alone a huge dissapointment on the "solution" he never tried to discuss, he just posted it.
March 09, 2014, 12:38:37 AM
I don't see why we cannot find a work around for the issues at hand if done with patience & dedication to original intentions of the OP , I think if we all work together we should be able find our way out as we all know if this goes south it will not be nice for any one involved here , we should come together to find a solution respecting investors expectation , legal issues & respecting LRM as well.
March 09, 2014, 12:13:47 AM
Zach, you sold unlicensed securities to unsophisticated investors. I am one of them. You need to make sure that all current and future hardware purchased by LRM and all liquid assets are equitably distributed to bond holders or I will personally coordinate a class action civil suit against you. I will prove that you knowingly committed fraud and I will hold you personally liable for my losses. This will be in addition to dedicating effort to insuring that the SEC pursues criminal proceedings against you, personally. Your ill-gotten gains won't make you rich enough to avoid jail.
Your status as an LLC is not a permit to break the law and defraud investors.
Do the right thing, and make bond holders whole.
Your status as an LLC is not a permit to break the law and defraud investors.
Do the right thing, and make bond holders whole.
March 09, 2014, 12:13:10 AM
There are issues with a percentage being considered shares and a contract being considered a sale. I will attempt to clarify more over the course of next week when I have more legal documentation to explain.
Also, I've done the math and liquidating the company's assets will turn out worse for the contract-holders as well as myself (rather than paying out "dividends").
Hardware just doesn't sell for what it did in may 2013......
Also, I've done the math and liquidating the company's assets will turn out worse for the contract-holders as well as myself (rather than paying out "dividends").
Hardware just doesn't sell for what it did in may 2013......
Then your attorney is at fault... and I, like some others, would implore you to reach out for a second opinion on any move you next make to right this for us all.
March 09, 2014, 12:04:33 AM
There are issues with a percentage being considered shares and a contract being considered a sale. I will attempt to clarify more over the course of next week when I have more legal documentation to explain.
Also, I've done the math and liquidating the company's assets will turn out worse for the contract-holders as well as myself (rather than paying out "dividends").
Hardware just doesn't sell for what it did in may 2013......
Also, I've done the math and liquidating the company's assets will turn out worse for the contract-holders as well as myself (rather than paying out "dividends").
Hardware just doesn't sell for what it did in may 2013......
March 08, 2014, 11:52:03 PM
I'm still at a loss as to how this is remotely fair or legal..
I've got 38.1 BTC invested with you LabRat. You've killed any chance of us seeing our investments remotely returned...
0.82 BTC dividends on 38.1 BTC investment.... what a tragedy.
I vote for you to liquidate the company's assets and buy back our bonds for whatever pittance you get for the hardware.
I've got 38.1 BTC invested with you LabRat. You've killed any chance of us seeing our investments remotely returned...
0.82 BTC dividends on 38.1 BTC investment.... what a tragedy.
I vote for you to liquidate the company's assets and buy back our bonds for whatever pittance you get for the hardware.
March 08, 2014, 10:27:01 PM
Alright guys, I think I may be on to something here:
-Feds/State getting pissy and want Labrat to only payout at 300MH/s per bond rate.
-Comply and continue to pay us all at 300MH/s
-Labrat will be making much more Bitcoin now
-He "takes-us-out-to-lunch" each Saturday with the extra bitcoins
-Those that coincidentally happen to have more bonds that others receive more "lunch money" than those that don't have as many bonds
-completely coincidentally *wink* *wink* *nudge* *nudge*
They may be able to stop him from "paying out" more Bitcoin (as a business). But I don't think they can stop him from "donating" (as a person) varying amounts of his bitcoins to certain addresses that also happen to be bond holders.
-Feds/State getting pissy and want Labrat to only payout at 300MH/s per bond rate.
-Comply and continue to pay us all at 300MH/s
-Labrat will be making much more Bitcoin now
-He "takes-us-out-to-lunch" each Saturday with the extra bitcoins
-Those that coincidentally happen to have more bonds that others receive more "lunch money" than those that don't have as many bonds
-completely coincidentally *wink* *wink* *nudge* *nudge*
They may be able to stop him from "paying out" more Bitcoin (as a business). But I don't think they can stop him from "donating" (as a person) varying amounts of his bitcoins to certain addresses that also happen to be bond holders.
March 08, 2014, 09:54:31 PM
My concerns have mostly been aired and I am leaning towards the cash out and reimburse what you can to bond holders as the alternative is a hashrate that will hit nothing in short order.
Couple of queries - this "asic company" which I'm assuming is coinseed (although I had the thought it was a manufacturing facility that we were buying into) what happens to our investment in that? Obviously if it's investment in the production divs from that will continue to pay off - I believe this should be passed on to the bondholder in some form (perhaps a share?).
I guess we need to really see what the issue is before we can comment too much.
Couple of queries - this "asic company" which I'm assuming is coinseed (although I had the thought it was a manufacturing facility that we were buying into) what happens to our investment in that? Obviously if it's investment in the production divs from that will continue to pay off - I believe this should be passed on to the bondholder in some form (perhaps a share?).
I guess we need to really see what the issue is before we can comment too much.
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