Topic: Official CaVirtex.com Thread - page 11. (Read 103360 times)

Reddit link:

http://www.reddit.com/r/Bitcoin/comments/2ikvqo/cavirtexcom_halted_btc_withdrawls_over_24_hours/

Wake up guys.

No, I didn't.  Just figured I'd look into it and see if I could provide more information.  I just logged into Cavirtex and it looks like they are allowing withdrawals again.  Considering it took so long to fix, I'd say we deserve a detailed explanation of what happened.

I'd say they did a rather poor job via twitter keep it's users updated.  23 hours without any update is unacceptable as far as I'm concerned. Glad I don't currently hold anything on the exchange, or I would have been freaking out.

They definitely dropped the ball on this one and the timing sucked with what was going on with bitcoin.

Did you notice who they tweeted to just before that? If I had not done so, they would never had said anything. And now, 23H later, still nothing!!!

They posted that like 3 hours after the withdrawals were disabled, it's always the same shit with virtex, would gladly switch to VoS if they had more volume 

Not sure if you've seen this, explains why it is down:

CAVIRTEX ‏@CAVIRTEX

Bitcoin withdrawals have been disabled as a result of refilling our hot wallet. Will be fixed shortly. Apologies for the inconvenience.
Ottawa, Ontario

1:42 PM - 6 Oct 2014

Link to there twiiter page: https://twitter.com/CAVIRTEX

Apparently they will update people there.

Update on Cavirtex.

Bitcoin Withdrawals are Temporarily Disabled

without any notices, no banners, nothing...

I just bought BTCs and can't do anything with them!!

Way to go Cavirtex!!

Can't believe I'm posting in this thread again, but anyways.  Notice from Cavirtex:


I've already gotten 2 of these emails this morning.  Be careful everyone
Peace

I'd also like to add to this that Canadians living abroad, non-residents and the like will have a very difficult time as well signing up for accounts.  If you don't own a home, pay an electrical bill etc. they aren't very accommodating. 

There are lots of other options out there for non-Canadians.

It is a Canadian only company it is not international just for Canadian citizens with Canadian passports licenses etc.
So not likely for a non Canadian to use this card.

All KYC is Canada only.
Trading Fees were in FAQ dont know about card and KYC requirements only on login

Is your card run on the Cirrus network? As I read on a 3rd party site.

From your FAQ:

Where will this card work?

"The prepaid debit cards will work at most ATMs in North America and many POS terminals. They will even work with some international ATMs!"

Very vague; not so helpful. Why don't you publish your fees?

Non-Canadians: do you use this card?

CaVirtex: do you want only Canadians to you your services, as there are not much information has been made public, without a sign-up, such as trading fees, card fees and KYC policies (which vary between countries).

Where is your support team?

I opened a ticket over 24hrs already and got no help. So i called your 888 number and got no one to answer.

Terrible customer service. This is why i think you will never grow.

Beats the 3% they were skinning last year.

On another topic, how hard would it be to list cooperative banks for each deposit and withdrawal option?  I tried to use the interac deposit, but half way through the process I get to the page where they reveal that my bank is not listed    I enjoy wasting time, but not on shit like that.

Edit:  transferred funds to a bank that IS listed.  1/2 way through that procedure it tells me
"Access Cards containing both the Interac and Visa logos are not set up to access the Interac Online Payment service. "
I'm pretty sure thats all any of the big banks have issued for the last few years, so depositing money is just as frustrating and impossible as before.

Can NONE of this be listed in the FAQ to help others avoid this merry-go-round of can't-get-there-from-here? Meanwhile I pay banks to transfer money around and around, never actually getting anywhere beyond their pockets.  Bullshit.

Do you have any plans about fee adjustment? Now the fee rate is a little expensive.

My thoughts as well...

If cavirtex wants to remove it's bad history it will have to treat us more fairly.
I bet the company is worth over 10 million or about 3 X's what they are offering.

They stated on too many occasions that the shares are worth a percentage of the company
And I think I will hold out for a true financial statement before I sell

I think I'll be holding thank you very much. This is likely an effort to claim back all the outstanding shares that have not been claimed by their owners - at a serious discount!

A 50% loss for buyers of the IPO
The initial prospectus price was valued significantly higher 1 Year and 6 months ago

The company should settle its balance sheet at a premium to the havelock price or at least match its IPO for the long term investors in cavirtex.
The buyout offer here should be challenged by the holders in my opinion a 10 dollar fiat premium seems like a total rip for the amount of growth this company has had and its interesting to say the least.

Hmm reading back
Actually the 30 CAD share price is in reference to if CaVirtex is bought out. But there is no indication they are being bought out.
This can't be considered a buy out from that view as this is a share repurchase.

As you know, 1612643 Alberta Inc. operating as CA Virtex, (the "Company") delisted from havelockinvestments.com ("Havelock") effective December 31, 2013, following which all holders of an interest in the Company purchased on Havelock were issued Class "B" Non-Voting Shares in the capital of the Company.  Many shareholders provided their registration details and were subsequently provided with a copy of the share certificate evidencing their Non-Voting Shares.  Part of the registration process was designed to assist the Company in reviewing prior sales of its securities to ensure compliance with applicable securities laws. As the Company has not prepared a prospectus qualifying the distribution of its securities it must comply with applicable exempt financing rules relating to the sale of its shares. This means that each purchaser of the Company's shares must qualify as an "accredited investor". The Company has made attempts to identify accredited investors throughout the registration process.  Many shareholders, however, have not responded to the Company's requests for registration information.  As a result of the difficulty in completing the registration process, the Company has determined to offer (the "Offer") a right of rescission to all of the Class "B" Non-Voting shareholders, without regard to whether or not registration details were previously provided.

The Offer is being made to all Class "B" Non-Voting shareholders on the basis of CAD$0.40 or 0.00070052 BTC per share (the "Offer Price") (or, prior to giving effect to the conversion to Class "B" Non-Voting Shares, the equivalent of CAD$40 or 0.070052 BTC per unit as then listed on Havelock).  Should you exercise your right of rescission, you will receive an amount equal to the Offer Price multiplied by the number of Class "B" shares held by you, payable in BTC or Canadian dollars.  If you elect to be paid in BTC then payment will be made at a fixed exchange rate of CAD$571/BTC.  The Offer Price will be paid without interest or deduction and, in making the election to accept the Offer, you will be deemed to have never been a shareholder or have any other interest or rights in or relating to the Company and you agree to waive any right to pursue the Company at law or in equity for any claim in any jurisdiction against the Company and its officers, directors and employees.  The Offer will remain open for 35 days, until 9/25/2014, 2014 at 4:00PM MST (the "Expiry Time").  Should you choose to not exercise your right of rescission you will remain а Class "B" Non-Voting shareholder of the Company.  To accept the Offer please reply by return email indicating your acceptance of the Offer (in BTC or CAD) and providing the applicable BTC address for payment in BTC. For payment in CAD, you must have a Canadian Bank account and be able to accept and electronic funds transfer credit, you will be provided details on setup when you respond.

Should you have any questions regarding this matter, please reply to this e-mail.
Authorized By: Joseph David per 1612643 ALBERTA INC.

Thank-you
Jennifer Kirk
CaVirtEx Executive Assistant 



what do you guys think about this

Can't they are just pieces of paper atm worth 30 bucks

Anyone trading cavirtex shares?