It is for that reason alone as to why we have not accepted new orders in the last few months. We're in the process of changing our business model completely, which will only be an immediate delivery option upon receipt of payment.
Excellent. Only once you get a handle on actual production times for stable miners should you even think about doing capacity-induced order delays. Those of course would need to be kept within FTC guidelines and fulfilled as they state.
That includes the need to stop/slow down orders as needed until production capacity can be increased. It is a bitch but has to be done. Our company has turned down 3 large orders so far this year because we are booked into next year.
If they make it to that point they should strongly consider using escrow services at the start. Their reputation is pretty shot IMO and this would help instil confidence in the consumer. They should be proving to the customer they have changed and the customer should have the chance to give them a second shot at NO RISK to the customer. They want a "last chance" they should bloody well earn it and start taking the risk with THEIR money!
I wonder if this new BM has them using existing monies to build miners to ship from stock. IF that's the case then nothing has changed really. Until they dump a bunch of their own money (or investor money) to clean up the shit pile they're in, make things right for original investomers AND build new stock miners they are still just running the same old model. IMO they need capital to make the switch, I hope they do make the switch but am very leery to be honest.
Righting a sinking ship is usually a very difficult task. Based on all we have seen publicly from the company I am not personally convinced they have the ability to right the ship. They need CAPITAL, hard wok, dedication, smarts and LUCK to pull this one out of the fire.
I hope I am wrong and I wish these guys the best of luck turning this thing around. But ask yourself this, if you were a venture capitalist would you risk your investment on this company? If they go outside of FF investments (friends and family) then they are going to go through a due diligence phase and the law suits and liabilities (ie unfulfilled orders or refunds) are going to be a huge red flag. I personally think a lot of investors would look at them as WAY to high risk and that the rewards could never match the risk level (you can't sell more than 100% of you company...)
Fully capitalized entities go out of business everyday in the USA, even more under cap'd ones go under. Very few of them turn it around.