Topic: Lab Rat Data Processing, LLC (LabRatMining) Official Announcement - page 63. (Read 452170 times)
April 25, 2014, 01:22:24 PM
Also prior ad-hoc withholding of dividends for hardware has created "owed" dividends or hashrate, not discretionary bonus.
April 25, 2014, 01:20:35 PM
Quote
Any bonus hashrate declared by the company will be SOLELY at the company's discretion.
That is not the spirit of the original agreement... it is not SOLELY at LRMs discretion... original bonds were sold as GUARANTEED growth as hashrate was added. I fail to see how you can legally change this on a whim... if it was not legal for you to sell those types of bonds... then full refunds for not accepting these new "terms" are in order.
Please elaborate on how you expect us to accept "SOLELY at the company's discretion."
April 25, 2014, 01:18:13 PM
Quote
IF YOU DO NOT AGREE WITH THESE
TERMS, DO NOT ORDER/KEEP YOUR PRODUCT. THE FINAL PLACEMENT
AND COMPLETION OF BUYER'S ORDER IS CONTINGENT ON BUYER'S FULL
ACCEPTANCE OF THE TERMS AND CONDITIONS IN THIS AGREEMENT.
TERMS, DO NOT ORDER/KEEP YOUR PRODUCT. THE FINAL PLACEMENT
AND COMPLETION OF BUYER'S ORDER IS CONTINGENT ON BUYER'S FULL
ACCEPTANCE OF THE TERMS AND CONDITIONS IN THIS AGREEMENT.
Okay then, I'll regard my order as not complete, please return BTC purchase price of my shares.
April 25, 2014, 01:16:40 PM
Regarding the contract, please state what is the case if we do not agree with the terms given.
Since LRM already took our BTC, it seems we are forced to accept. The 'All purchases are final' bit.
Well, I didn't know I was 'purchasing' a crappy amount of hashing power for 4BTC
I am not sure how people can legally be forced into accepting these 'new terms and conditions'.
I, for one, want my BTC back. I don't care that the dollar amount has changed. 1 BTC then is 1 BTC now.
April 25, 2014, 01:12:25 PM
Regarding the contract, please state what is the case if we do not agree with the terms given.
April 25, 2014, 01:12:14 PM
How many Monarchs do you have on order?
How much electricity do you have at your warehouse? How many AMP service?
How much electricity do you have at your warehouse? How many AMP service?
April 25, 2014, 01:11:29 PM
While people are digesting that, there are these:
This and,
14. Is there an agreement in place or under negotiation with a State or Federal authority which defines the financial instrument that was originally issued by LRM? If so, what is the legal basis of the financial instrument issued? And, kindly disclose the agreement or a point form summary of the negotiations if an agreement has not been reached
15. Will you voluntarily disclose the financials of LRM and the related companies you have incorporated if there have been any disbursements from LRM to said companies?
16. Would you be prepared to have a private conference call(s) with a group of larger bondholders? Identities would be verified via signed BTC message or RL details if available
Also, as a general note, this place is a shit show for this kind of conversation. LRM requires some method which permits disclosure of confidential information to bond holders. kryptokit provides for secure messaging via bitcoin address - there may be others that provide for this function via a defined group - not sure. In any case, I suggest all communications regarding LRM and its confidential business dealings be removed from this forum and set up somewhere else where the participants are vetted bondholders.
6, 7 and 9 would be of most interest to me...
grnbrg.
1.) Why haven't you been able to tell us anything?
2.) What law restricted you from telling us?
3.) Why has it taken so long for your lawyer to give you any information if this issue has been known about for 4+ months?
4.) What happen to the ASIC Project? How much was spent, and from what pot of money?
5.) Will you be firing your lawyer once this legal issue is resolved? If not, why?
6.) Which ASIC manufacturers have you spoken to/signed deals with and are moving forward with? What are your plans for future hardware purchases?
7.) What have you been doing with the new hardware you've had for months? When can we expect to receive those dividends?
8.) What's going to happen with the old/new bonds (or shares, or contracts, or whatever they are called now?)
9.) How much work have you put into the trading platform which was your number one priority? How far are you done, and when can we expect it to be finished?
10.)Can you please provide a full list of bitcoin mining address'
11.)What percentage of the 25% is allotted as a management fee? Since it's all the same for LR's pocket, can we replace the management fee with an issuance of "bonds" to LR that equate to the avg fee% instead - say 5-7% of total bonds - this would provide transparency of your FIXED % fee's and give you an increased incentive to produce
12.) Can you please provide photographic evidence of all equipment currently in service for LRM bondholders.
13.) Why has the contract not been provided in a timely manner?
2.) What law restricted you from telling us?
3.) Why has it taken so long for your lawyer to give you any information if this issue has been known about for 4+ months?
4.) What happen to the ASIC Project? How much was spent, and from what pot of money?
5.) Will you be firing your lawyer once this legal issue is resolved? If not, why?
6.) Which ASIC manufacturers have you spoken to/signed deals with and are moving forward with? What are your plans for future hardware purchases?
7.) What have you been doing with the new hardware you've had for months? When can we expect to receive those dividends?
8.) What's going to happen with the old/new bonds (or shares, or contracts, or whatever they are called now?)
9.) How much work have you put into the trading platform which was your number one priority? How far are you done, and when can we expect it to be finished?
10.)Can you please provide a full list of bitcoin mining address'
11.)What percentage of the 25% is allotted as a management fee? Since it's all the same for LR's pocket, can we replace the management fee with an issuance of "bonds" to LR that equate to the avg fee% instead - say 5-7% of total bonds - this would provide transparency of your FIXED % fee's and give you an increased incentive to produce
12.) Can you please provide photographic evidence of all equipment currently in service for LRM bondholders.
13.) Why has the contract not been provided in a timely manner?
This and,
14. Is there an agreement in place or under negotiation with a State or Federal authority which defines the financial instrument that was originally issued by LRM? If so, what is the legal basis of the financial instrument issued? And, kindly disclose the agreement or a point form summary of the negotiations if an agreement has not been reached
15. Will you voluntarily disclose the financials of LRM and the related companies you have incorporated if there have been any disbursements from LRM to said companies?
16. Would you be prepared to have a private conference call(s) with a group of larger bondholders? Identities would be verified via signed BTC message or RL details if available
Also, as a general note, this place is a shit show for this kind of conversation. LRM requires some method which permits disclosure of confidential information to bond holders. kryptokit provides for secure messaging via bitcoin address - there may be others that provide for this function via a defined group - not sure. In any case, I suggest all communications regarding LRM and its confidential business dealings be removed from this forum and set up somewhere else where the participants are vetted bondholders.
6, 7 and 9 would be of most interest to me...
grnbrg.
April 25, 2014, 01:10:03 PM
1.) Why haven't you been able to tell us anything?
2.) What law restricted you from telling us?
3.) Why has it taken so long for your lawyer to give you any information if this issue has been known about for 4+ months?
4.) What happen to the ASIC Project? How much was spent, and from what pot of money?
5.) Will you be firing your lawyer once this legal issue is resolved? If not, why?
6.) Which ASIC manufacturers have you spoken to/signed deals with and are moving forward with? What are your plans for future hardware purchases?
7.) What have you been doing with the new hardware you've had for months? When can we expect to receive those dividends?
8.) What's going to happen with the old/new bonds (or shares, or contracts, or whatever they are called now?)
9.) How much work have you put into the trading platform which was your number one priority? How far are you done, and when can we expect it to be finished?
10.)Can you please provide a full list of bitcoin mining address'
11.)What percentage of the 25% is allotted as a management fee? Since it's all the same for LR's pocket, can we replace the management fee with an issuance of "bonds" to LR that equate to the avg fee% instead - say 5-7% of total bonds - this would provide transparency of your FIXED % fee's and give you an increased incentive to produce
12.) Can you please provide photographic evidence of all equipment currently in service for LRM bondholders.
13.) Why has the contract not been provided in a timely manner?
2.) What law restricted you from telling us?
3.) Why has it taken so long for your lawyer to give you any information if this issue has been known about for 4+ months?
4.) What happen to the ASIC Project? How much was spent, and from what pot of money?
5.) Will you be firing your lawyer once this legal issue is resolved? If not, why?
6.) Which ASIC manufacturers have you spoken to/signed deals with and are moving forward with? What are your plans for future hardware purchases?
7.) What have you been doing with the new hardware you've had for months? When can we expect to receive those dividends?
8.) What's going to happen with the old/new bonds (or shares, or contracts, or whatever they are called now?)
9.) How much work have you put into the trading platform which was your number one priority? How far are you done, and when can we expect it to be finished?
10.)Can you please provide a full list of bitcoin mining address'
11.)What percentage of the 25% is allotted as a management fee? Since it's all the same for LR's pocket, can we replace the management fee with an issuance of "bonds" to LR that equate to the avg fee% instead - say 5-7% of total bonds - this would provide transparency of your FIXED % fee's and give you an increased incentive to produce
12.) Can you please provide photographic evidence of all equipment currently in service for LRM bondholders.
13.) Why has the contract not been provided in a timely manner?
This and,
14. Is there an agreement in place or under negotiation with a State or Federal authority which defines the financial instrument that was originally issued by LRM? If so, what is the legal basis of the financial instrument issued? And, kindly disclose the agreement or a point form summary of the negotiations if an agreement has not been reached
15. Will you voluntarily disclose the financials of LRM and the related companies you have incorporated if there have been any disbursements from LRM to said companies?
16. Would you be prepared to have a private conference call(s) with a group of larger bondholders? Identities would be verified via signed BTC message or RL details if available
Also, as a general note, this place is a shit show for this kind of conversation. LRM requires some method which permits disclosure of confidential information to bond holders. kryptokit provides for secure messaging via bitcoin address - there may be others that provide for this function via a defined group - not sure. In any case, I suggest all communications regarding LRM and its confidential business dealings be removed from this forum and set up somewhere else where the participants are vetted bondholders.
1a.) Why can't you even provide a weekly breakdown of dividends anymore???
These^^
April 25, 2014, 01:07:42 PM
I am at my lawyer's office set up and ready to go. We will begin answering questions in the next few minutes. There was an emergency out of town this week that resulted in my not being able to post the contract. It is going out at the beginning of this AMA.
Contract: https://drive.google.com/folderview?id=0BwZCh0jtSZkwMUMxUURqdGNGT0k&usp=sharing
No legal advice will be given during this AMA. We are not creating any attorney client relationships.
Please try to keep your questions specific to allow for short yet precise answers.
Any questions asked after this point will be answered in order of post. Keep your language clean or I reserve the right to skip over it.
-----------------------------------------------------------------------------------------------------------------------------------------------------------
Contract: https://drive.google.com/folderview?id=0BwZCh0jtSZkwMUMxUURqdGNGT0k&usp=sharing
No legal advice will be given during this AMA. We are not creating any attorney client relationships.
Please try to keep your questions specific to allow for short yet precise answers.
Any questions asked after this point will be answered in order of post. Keep your language clean or I reserve the right to skip over it.
-----------------------------------------------------------------------------------------------------------------------------------------------------------
April 25, 2014, 01:00:03 PM
LR has let me know he is at the lawyer's office.
If the Q&A doesn't start exactly at the top of the hour, it will be Real Soon Now.
grnbrg.
grnbrg.
April 25, 2014, 12:41:17 PM
If I wanted a raccoon themed time piece I'd nail one to the clock on the barn.
April 25, 2014, 12:37:41 PM
It is now 1:36 EDT.
Not My $.02.
Fact.
Not My $.02.
Fact.
April 25, 2014, 12:34:21 PM
1.) Why haven't you been able to tell us anything?
2.) What law restricted you from telling us?
3.) Why has it taken so long for your lawyer to give you any information if this issue has been known about for 4+ months?
4.) What happen to the ASIC Project? How much was spent, and from what pot of money?
5.) Will you be firing your lawyer once this legal issue is resolved? If not, why?
6.) Which ASIC manufacturers have you spoken to/signed deals with and are moving forward with? What are your plans for future hardware purchases?
7.) What have you been doing with the new hardware you've had for months? When can we expect to receive those dividends?
8.) What's going to happen with the old/new bonds (or shares, or contracts, or whatever they are called now?)
9.) How much work have you put into the trading platform which was your number one priority? How far are you done, and when can we expect it to be finished?
10.)Can you please provide a full list of bitcoin mining address'
11.)What percentage of the 25% is allotted as a management fee? Since it's all the same for LR's pocket, can we replace the management fee with an issuance of "bonds" to LR that equate to the avg fee% instead - say 5-7% of total bonds - this would provide transparency of your FIXED % fee's and give you an increased incentive to produce
12.) Can you please provide photographic evidence of all equipment currently in service for LRM bondholders.
13.) Why has the contract not been provided in a timely manner?
2.) What law restricted you from telling us?
3.) Why has it taken so long for your lawyer to give you any information if this issue has been known about for 4+ months?
4.) What happen to the ASIC Project? How much was spent, and from what pot of money?
5.) Will you be firing your lawyer once this legal issue is resolved? If not, why?
6.) Which ASIC manufacturers have you spoken to/signed deals with and are moving forward with? What are your plans for future hardware purchases?
7.) What have you been doing with the new hardware you've had for months? When can we expect to receive those dividends?
8.) What's going to happen with the old/new bonds (or shares, or contracts, or whatever they are called now?)
9.) How much work have you put into the trading platform which was your number one priority? How far are you done, and when can we expect it to be finished?
10.)Can you please provide a full list of bitcoin mining address'
11.)What percentage of the 25% is allotted as a management fee? Since it's all the same for LR's pocket, can we replace the management fee with an issuance of "bonds" to LR that equate to the avg fee% instead - say 5-7% of total bonds - this would provide transparency of your FIXED % fee's and give you an increased incentive to produce
12.) Can you please provide photographic evidence of all equipment currently in service for LRM bondholders.
13.) Why has the contract not been provided in a timely manner?
This and,
14. Is there an agreement in place or under negotiation with a State or Federal authority which defines the financial instrument that was originally issued by LRM? If so, what is the legal basis of the financial instrument issued? And, kindly disclose the agreement or a point form summary of the negotiations if an agreement has not been reached
15. Will you voluntarily disclose the financials of LRM and the related companies you have incorporated if there have been any disbursements from LRM to said companies?
16. Would you be prepared to have a private conference call(s) with a group of larger bondholders? Identities would be verified via signed BTC message or RL details if available
Also, as a general note, this place is a shit show for this kind of conversation. LRM requires some method which permits disclosure of confidential information to bond holders. kryptokit provides for secure messaging via bitcoin address - there may be others that provide for this function via a defined group - not sure. In any case, I suggest all communications regarding LRM and its confidential business dealings be removed from this forum and set up somewhere else where the participants are vetted bondholders.
1a.) Why can't you even provide a weekly breakdown of dividends anymore???
April 25, 2014, 12:30:45 PM
1.) Why haven't you been able to tell us anything?
2.) What law restricted you from telling us?
3.) Why has it taken so long for your lawyer to give you any information if this issue has been known about for 4+ months?
4.) What happen to the ASIC Project? How much was spent, and from what pot of money?
5.) Will you be firing your lawyer once this legal issue is resolved? If not, why?
6.) Which ASIC manufacturers have you spoken to/signed deals with and are moving forward with? What are your plans for future hardware purchases?
7.) What have you been doing with the new hardware you've had for months? When can we expect to receive those dividends?
8.) What's going to happen with the old/new bonds (or shares, or contracts, or whatever they are called now?)
9.) How much work have you put into the trading platform which was your number one priority? How far are you done, and when can we expect it to be finished?
10.)Can you please provide a full list of bitcoin mining address'
11.)What percentage of the 25% is allotted as a management fee? Since it's all the same for LR's pocket, can we replace the management fee with an issuance of "bonds" to LR that equate to the avg fee% instead - say 5-7% of total bonds - this would provide transparency of your FIXED % fee's and give you an increased incentive to produce
12.) Can you please provide photographic evidence of all equipment currently in service for LRM bondholders.
13.) Why has the contract not been provided in a timely manner?
2.) What law restricted you from telling us?
3.) Why has it taken so long for your lawyer to give you any information if this issue has been known about for 4+ months?
4.) What happen to the ASIC Project? How much was spent, and from what pot of money?
5.) Will you be firing your lawyer once this legal issue is resolved? If not, why?
6.) Which ASIC manufacturers have you spoken to/signed deals with and are moving forward with? What are your plans for future hardware purchases?
7.) What have you been doing with the new hardware you've had for months? When can we expect to receive those dividends?
8.) What's going to happen with the old/new bonds (or shares, or contracts, or whatever they are called now?)
9.) How much work have you put into the trading platform which was your number one priority? How far are you done, and when can we expect it to be finished?
10.)Can you please provide a full list of bitcoin mining address'
11.)What percentage of the 25% is allotted as a management fee? Since it's all the same for LR's pocket, can we replace the management fee with an issuance of "bonds" to LR that equate to the avg fee% instead - say 5-7% of total bonds - this would provide transparency of your FIXED % fee's and give you an increased incentive to produce
12.) Can you please provide photographic evidence of all equipment currently in service for LRM bondholders.
13.) Why has the contract not been provided in a timely manner?
This and,
14. Is there an agreement in place or under negotiation with a State or Federal authority which defines the financial instrument that was originally issued by LRM? If so, what is the legal basis of the financial instrument issued? And, kindly disclose the agreement or a point form summary of the negotiations if an agreement has not been reached
15. Will you voluntarily disclose the financials of LRM and the related companies you have incorporated if there have been any disbursements from LRM to said companies?
16. Would you be prepared to have a private conference call(s) with a group of larger bondholders? Identities would be verified via signed BTC message or RL details if available
Also, as a general note, this place is a shit show for this kind of conversation. LRM requires some method which permits disclosure of confidential information to bond holders. kryptokit provides for secure messaging via bitcoin address - there may be others that provide for this function via a defined group - not sure. In any case, I suggest all communications regarding LRM and its confidential business dealings be removed from this forum and set up somewhere else where the participants are vetted bondholders.
April 25, 2014, 12:17:16 PM
When does the comedy circus start, got nothing to do for few hours , Zach not going to entertain us ? 
About an hour from now....I just confirmed with him that he'll be here.
grnbrg.
April 25, 2014, 12:15:45 PM
1.) Why haven't you been able to tell us anything?
2.) What law restricted you from telling us?
3.) Why has it taken so long for your lawyer to give you any information if this issue has been known about for 4+ months?
4.) What happen to the ASIC Project? How much was spent, and from what pot of money?
5.) Will you be firing your lawyer once this legal issue is resolved? If not, why?
6.) Which ASIC manufacturers have you spoken to/signed deals with and are moving forward with? What are your plans for future hardware purchases?
7.) What have you been doing with the new hardware you've had for months? When can we expect to receive those dividends?
8.) What's going to happen with the old/new bonds (or shares, or contracts, or whatever they are called now?)
9.) How much work have you put into the trading platform which was your number one priority? How far are you done, and when can we expect it to be finished?
10.)Can you please provide a full list of bitcoin mining address'
11.)What percentage of the 25% is allotted as a management fee? Since it's all the same for LR's pocket, can we replace the management fee with an issuance of "bonds" to LR that equate to the avg fee% instead - say 5-7% of total bonds - this would provide transparency of your FIXED % fee's and give you an increased incentive to produce
12.) Can you please provide photographic evidence of all equipment currently in service for LRM bondholders.
13.) Why has the new contract not been provided in a timely manner?
14.) how do you expect us to rationally evaluate our investments with out you providing clear and transparent details as issues arise?
2.) What law restricted you from telling us?
3.) Why has it taken so long for your lawyer to give you any information if this issue has been known about for 4+ months?
4.) What happen to the ASIC Project? How much was spent, and from what pot of money?
5.) Will you be firing your lawyer once this legal issue is resolved? If not, why?
6.) Which ASIC manufacturers have you spoken to/signed deals with and are moving forward with? What are your plans for future hardware purchases?
7.) What have you been doing with the new hardware you've had for months? When can we expect to receive those dividends?
8.) What's going to happen with the old/new bonds (or shares, or contracts, or whatever they are called now?)
9.) How much work have you put into the trading platform which was your number one priority? How far are you done, and when can we expect it to be finished?
10.)Can you please provide a full list of bitcoin mining address'
11.)What percentage of the 25% is allotted as a management fee? Since it's all the same for LR's pocket, can we replace the management fee with an issuance of "bonds" to LR that equate to the avg fee% instead - say 5-7% of total bonds - this would provide transparency of your FIXED % fee's and give you an increased incentive to produce
12.) Can you please provide photographic evidence of all equipment currently in service for LRM bondholders.
13.) Why has the new contract not been provided in a timely manner?
14.) how do you expect us to rationally evaluate our investments with out you providing clear and transparent details as issues arise?
April 25, 2014, 12:05:53 PM
When does the comedy circus start, got nothing to do for few hours , Zach not going to entertain us ?
About an hour from now....I just confirmed with him that he'll be here.
grnbrg.
April 25, 2014, 11:20:00 AM
As an airbet I'll speculate that even after the AMA you won't know any more than you did before and will have a gazillion more questions.
My $.02.
My $.02.
How deeply are you invested LostDutchman?
Although previously a supporter of Lab_Rat, I am not invested for a couple of reasons.
(1) I don't like setups like his and saw that sooner or later there would be issues with Fin-CEN, money transmission laws and satisfying the IRS about things, not to mention possible problems with unregulated securities; an open invitation to government attention.
(2) Lab_Rat's operation was waaaaaaaayyyyyyyyyyyyyyyyyyyy too closely tied to Butterfly Labs and that fact alone should have given people pause.
(3) I have my own altcoin mining operation.
My $.02.
April 25, 2014, 11:15:38 AM
As an airbet I'll speculate that even after the AMA you won't know any more than you did before and will have a gazillion more questions.
My $.02.
My $.02.
How deeply are you invested LostDutchman?
April 25, 2014, 11:14:23 AM
As an airbet I'll speculate that even after the AMA you won't know any more than you did before and will have a gazillion more questions.
My $.02.
My $.02.
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