Topic: NYAN/CPA final claims process (updated September 22nd, 2013) - page 2. (Read 5384 times)

Maybe I got the date wrong, no problem. But this doesn't change the fact, that he will sell the debt and turn a nice profit for himself. I guess time will tell!

Ah right - I remember your bid now.  It was made after the auction had ended.  Strangely you then claimed usagi had edited the post to add in the "21.5 hours from now" part - despite it being in the auctions forum where it's impossible to edit posts.

Though can't blame you for getting confused over when it ended - it WAS, after all, the second time the end date had changed (I didn't make any bids after the first change of end date - an auction where I'm committed to bids but the seller isn't committed to an end date doesn't appeal to me at all).

And why shouldn't I worry about your investors?  Someone has to - and it doesn't seem like you do.

Deprived, you and Usagi need not to worry about my investors.

I had a bid on Imsaguy debt which usagi ignored. After seeing my bid, Imsaguy tried to buy the debt from me at a discount.

At least his investors are getting back a bit more than yours have so far.  Haven't you got the 60% you received back from DeadTerra to hand out to your investors?  At least usagi has been paying out funds when he receives them - unlike you.

Feels strange defending usagi - but seems like all the investors of his with guarantees (Nyan.A/YARR) will be getting back full value before long.  Unlike your guarantee which seems to mean you'll give back something when you feel like it - which may be this year, may be next, may be never.  No sign of you forwarding the funds from DeadTerra - and no sign of you selling the mining farm you claimed to have when selling your bonds to make a start on settling your debt.

As for the Imsaguy debt, the last content of any note in that thread was nearly a week before the auction ended.  Anyone who believed him that a deal was imminent could have bid more for the debt - including Imsaguy himself.

So Usagi bought the Imsaguy debt for 0.3 Btc in total, exactly at the moment Imsaguy tries to pay his debt!
https://bitcointalk.org/index.php?topic=60117.220

Great timing Usagi! Nice loss for your investors!

I held neither NYAN nor BMF - I considered both to be not worthy ideas to invest money in. I held some CPA shares though, on one hand because I really liked the idea, on the other hand because it seemed from your initial idea to be a kinda safe venture. You then (maybe to gain more traction/clients?) suddenly started to offer and pay out on "hacking" insurances and whatnot, started other ventures etc. in my opinion loosing focus. After you lost focus, you started loosing money as well on CPA, either because you were not calculating the risk properly or because of lack in sales.

Anyways, I don't know how many shares I even held (you also never contacted me, even though I am for sure in your list of shareholders...) and don't really care any more at this point - I doubt I would get even close to the money back I paid for them and the hassle to get back a few lousy Bitcents (maybe? I haven't really found out yet what happens/happened to CPA shares ayways) is not worth my time. You can complain as much as you want that the market tanked or whatever (which is one of the reasons I didn't invest in your "funds"), I bet you learned a lot yourself as well. All in all I at best see maybe a Dollar or two worth of BTC from shares in your companies, that used to be worth and be traded for much more. I call that a loss - and just to be sure, I said I lost it because of your ventures, not because of you.

Thanks for this information. The BitVPS situation is extremely confusing to me. I suppose I will have to e-mail the bitvps guys tomorrow and ask for another update.

This cannot be true. The asset will be delisted. It is currently still trading. You should've been receiving dividends this whole time, including one which represented your shares due portion of the sale. AND, it has been stated that they are moving to BTCT.CO unless there are objections.

You didn't lose anything at all from my "ventures". You lost money because you (in full knowledge of what you were buying) invested in mining and/or a spread of GLBSE securities. Mining bonds crashed, and when GLBSE shut down it became very difficult for me to recover value on your behalf. As you surely know from trying to recover your own money invested in other GLBSE-based issues.

I'm sorry that people who owed NYAN and BMF ran away and didn't give me any money, but I did the best I could. In fact I did better. I donated my entire personal stake in the companies back to shareholders. I also bought about $3,000 worth of bitcoins to try and return some value to my shareholders over and above what I actually owe them from the sale of our holdings. Your shares should be sitting on BTC-TC and accumulating distributions. If you'd like me to buy them from you at a fair price, we can talk about that in PM.

I think if you feel I still owe you money, you should PM me. You haven't contacted me, ever, regarding any money I owe you so I think it's a little unfair for you to qip that you lost money because of me without even giving me the chance to make it right. Why don't you PM me with how much you think I owe you and why, and I'll see if we can't work something out. I can give you some of the securities and debt we have. There is still significant value, for example in JAH shares, that I ended up with personally after buying them out for my shareholders, and I am just trying to sell the actual shares now so I can pay that money out. I could see my way clear to giving it to you if it turns out I really do owe you money. The absolute last thing on my mind when taking care of a customer is personal profit, and I do try to be fair. I'd appreciate it if you would give me the opportunity to be fair to you as well. Enjoy your meals today~

I sincerely appreciate that.

Thank you,




My duty as custodian here is simply to get a statement. As you have not been provided with any lists from Nefario, it's clearly not your fault and I have updated the information about BITCOINRS to reflect that. While it's probably my fault for not contacting you earlier, I've just been so busy with the payments and talking to 20 other asset issuers, I was mistaken and I thought you had a list. Well, anyways. I'll try to make a payment for my shareholders on your behalf since I believe one day you will get the list from Nefario. I may be wrong but who really cares, as long as this gets wrapped up in a neat little package that's all that really matters to me.

Good luck with your company in the future.

Nefario has disapeared and has never given out a shareholder list for the asset and BITCOINRS has never appeared on a public list that got its info back from  glbse.

I can neither hand out shares or pay any value out when there is no way to tell who owns what. Paying out one shareholder even if I know they own the shares isnt fair either. Unless Nefario miraculously decides to do the right thing theres nothing I can do and I cant preference one shareholder over another.

I dont exactly know wtf Im supposed to do about it and I cant exactly send someone to break nefarios legs to ensure he does the right thing.

As I own most of the shares personally Ive written off the entire asset because obviously nefario decided to screw me over. Most of the money lost here is mine and Ive lost a lot more than anyone else so we are all in the same boat.

Im sure Im not the only asset issuer in this situation.
 

Would like to quickly state that you're welcome to leave the locked securities up on BTC-TC for a few more months.

Of course, please follow the wishes of your share/bond holders, but as far as using the platform, you are welcome to continue to do so.

Cheers.

Many updates have been posted today and I will continue to post updates throughout the day.

-----

Letter to Shareholders of all my companies:

In response to some recent enquirers I'd like to remind people that I DO NOT HAVE PERSONAL LIABILITY. The contracts were all very clear. NYAN.A was insured by CPA and CPA existed to expose investors to both the rewards -- and the risks -- of insurance. You knew that before you invested, so it's a little late to start complaining. Do not bother to try and shift the scam accusations from "usagi is responsible for the mining crash" to "usagi has personal liability". I will simply ignore you.

You have to understand. If I invest in a company like BitVPS, and the boss (rg) dumps his WoT/OTC key on pastebin, sells his company and moves to timbuktu -- that I am not responsible for covering investor's loss. Some people seem to think that taking 5% of investment dividend qualifies me to shoulder 100% of the risk. That's just not going to happen on many levels, least of all the contract stating I am not responsible.

This is very important to understand because I will be, breathtakingly, assuming personal liability for NYAN.A.

Yes, you heard it here first. I will be paying what is remaining on NYAN.A out of my personal salary over a period of months because so many companies blew up that all of the value in NYAN.B and most of the value in NYAN.A has disappeared. BITVPS is gone. That was our gem. We're not on the list of BITCOINRS (fancy that). And so on. I've also sold $4,000 worth of my personal gold and silver in order to make bids on BMF securities (see auction) and to buy out the JAH and RSM positions so that my shareholders can receive full value. I've done this in auction or on the market so shareholders know they are getting a better deal than if I didn't do this. I've also relinquished my personal stake in these companies back to shareholders to increase their value.

It's sad that I won't be able to save any money during this time but I believe that contractual obligations be damned -- it's the right thing to do.

In a better world the people who owe me money (as listed in the claims thread) would do the same thing. But they aren't. They're running and hiding and pretending they don't owe me any money.

That makes me sick. And what's worse is a handful of very confused individuals who believe it's all my fault.

Well there's nothing I can really say to anyone over this, because actions speak louder than words.

At any rate, Chinese New Year is coming up soon so let's enjoy ourselves

OH! Sorry about that, I didn't mean running SILVER is my "only" concern. I have to cook my dinner too But yeah, I get what you're saying, and you're right. Shutting down BMF and NYAN is a lot of work.

Actually a few asset issuers that I chat with have said to me, that they don't think I have been given enough time. And that this whole process on BTC-TC has been slightly unfair to me. They're right, I don't have enough time. That's why I took your advice and launched the auction in the first place. I would have preferred getting an extension as that would have allowed me time to get full value. But the community has spoken; the community prefers I am delisted from BTC-TC without sufficient time to chase down people like Obsi and get our money back. Those are the cards I have been dealt and I am dealing with them. But a lot of it is going on behind the scenes now and is not something that I generally announce on the forums. For example, I've been making private payment arrangements with several very large shareholders. But this is not something you would be aware of unless you had asked.

I also share your concern about "will contact asset issuer soon". The meaning of this is simple; I can't seem to get in contact with them and there are no material changes that haven't been announced somewhere else. Unfortunately, most of the companies on GLBSE don't want to do the right thing. They don't want to stick around and pay out what they owe like I am doing. If someone turns tail and runs it makes me look bad. I get blamed because someone doesn't answer his e-mails. It's cruel and unfair, but all I can do is make the best of a bad situation. I hope you can understand my position on that.

You will be happy to know I have sold over $4,000 worth of my personal gold and silver, and at my option my prized Gibson SG Standard guitar, to buy some of the securities we have for sale at full value for my shareholders. This is me buying time for my shareholders to make sure they get full value. I will also be making a gift payment to them and buying bitcoins out of my salary to complete payment on NYAN.A. As a result it is beyond my control how much time this will take, but those arrangements will be made privately with shareholders after delisting from BTC-TC.

I am doing a lot to close these companies down properly as you see; it's just that a lot of it is stuff you won't necessarily be informed of as a non-shareholder. So please don't feel disappointed. I am making the best of it.

Anyways I will be providing an update to the auction thread and editing the securities update thread over the weekend. You will notice only a small handful of bids appeared in the thread the week following the 13th, so there was no reason to provide an update on the 20th.

Dear LTC-GLOBAL moderators and shareholders;

I'm truly thankful of the five votes I have received allowing me to list BMF, and the shareholder motion which states my shareholders want me to continue running BMF (although not many have voted).

However I fear it is too late for BMF. I will be honest my dreams for BMF have been dashed. For weeks I have been mentally prepared to just let go (and shut down the company). So thank you for the five votes, I have asked burnside to unlock the asset, but I will continue to shut down in an orderly fashion over the next few weeks.

The only real benefit unlocking will have is it will allow me to buy back shares in addition to paying a dividend. Some people may prefer to sell their shares at a small loss to get their money back "today" versus two weeks from now. However please keep in mind most of the dividends have already been paid and short of several letters from shareholders asking me to continue I will shut down.

Management guidance: As at Jan 22nd, 2013, I will guarantee a minimum current value for BMF shares at 0.1BTC. However this value is guaranteed to decline as we continue to pay out dividends. I also suggest you don't panic sell. Please check the Dividends & Trades window to see what we have scheduled for payout, and keep in mind there is at least 100 BTC of unscheduled dividends which we will get from auction and from sale of securities over the next week or two. Once again thank you to all my shareholders. Please contact me if you have any concerns and I will do my best to resolve them.

Please see the liquidation auction thread [and associated discussion] to place bids on any issue listed in this thread.

This thread will continue to be updated with new information as I receive it.

Share count was multiplied by 30 on import.

NYAN.C import complete.  Check your spam folder before requesting support.  (gmail users especially)

Cheers.

The leaked settlement agreement??

The leaked settlement agreement is the big news. I was not planning on releasing it yet but there it is, I will release something very similar to that officially soon. So I will have to list NYAN.C for the vote.. I guess I should go list it now. It's just wow, there's like 50 assets to work thru. It's not like we were a miner with 50 singles. We were spread out. In this case diversity is not our friend. So it's taking a long time to chew through everything I need to do and I only have ~3 more weeks.