The day before Lehman Bros collapsed the CEO told investors in a conference call that the company was in no danger of insolvency. He knew exactly what was happening.
His defense was that if he had told investors the true state of the company that it would have immediately collapsed due to share selling.
You are correct and I agree 100%.
The exchange does not know the facts behind the situation and made a public statement.
Statements should be coming from LabCoin.
-Ukyo
The statement the exchange made was 100% factual. Though it could have been worded differently, the warning needed to be made. Attempts at communication prior to the issuance of the warning had not been successful.
I have updated the warning.
For those that are curious about what we are currently trying to figure out, it's this clause:
General shareholder contract and IPO information
Labcoin.com aims to raise 7.000 Bitcoin (BTC) through the issue of 7.000.000 shares in the IPO. The shares will be issued at a price of 0.001 BTC per share. The total amount of shares in labcoin.com will be 10.000.000 shares, with labcoin employees, representatives and owners will hold 30% of outstanding shares.
We have asked for verification of the withholding of 30% of the shares.
Some other users have pointed out, correctly, that other issues have had contract violations. This is true, but I should point out a couple of things. First, the ability to put notices on individual assets is a relatively new feature in the site code. Second, we've also recently placed warnings on other issues elsewhere and we have documented these. Third, we can only place warnings where we are aware of the contractual issues. That is to say that we have to get notice from people familiar with the particular issue and then look into it ourselves.
We'll refine and improve on the process as we have done with most things.
Cheers.
Dont care about your ego..
