I am about ready to withdraw my offer and just file suit. The more and more I look into this, the less and less I want anything to do with SIN. There has been no evidence of any hardware. The number on output never matched up and I am pretty sure that the operation was run as a ponzi scheme paying out "dividends" by using the btc used to buy shares to pay out these.
I will make this clear. Given almost any outcome at this point, I am taking you to court Tawsix. The way you have handled operation has not only been negligent but criminal. Every btc that has been traded to you for shares of SIN was intended only for that specific purpose and under the belief that the contract that was purchased would remain vaild. As of now you are in breach of the contract. Your only bailout clause states that you can only terminate in the even that mining become unprofitable, which with the hardware asset already in possession, cannot be the case given the electrical cost you have previously provided.
Secondly, you have been offered both offers to keep the operation running as well as ones for sale in which you would not provide a list of items for sale despite stating that you would.
In the short reply to my first offer, you stated the following.
Subject Liquidating SIN
Sender
[email protected] Recipient
[email protected] Date 07.11.2011 00:40
shakaru,
Hello, I am sorry it took so long to get into contact with you after I said I would. I have been very busy lately. I received your message on the forums and there will be no need to pursue legal action, I am fully willing to wrap up SIN, I have just been preoccupied with other matters lately. I am unsure exactly what you are offering as far as helping with the liquidation, and what information you need to move forward. I look forward to your response.
To reply to you, I stated the offer that I have made publicly here that a motion be put forward to have SDM absorb SIN in all respects, assets and operation. Your response was... [here is the full response with replys]
Unfortunately I am not interested in trading the hardware for shares. I am looking to outright sell the assets of the company, pass on the money to investors, and allow them to decide what to do with it. If you are still interested in acquiring SIN's assets I will personally forward the list of hardware to you when I have completed compiling it. If this is not something you are interested in, I will be selling SIN's assets and paying out the proceeds to investors as they come in.
On Tue, 08 Nov 2011 12:38:01 -0500, <
[email protected]> wrote:
(having to type this all again as my browser ate the first copy)
An absorbtion is where a party or person is tied to a contractual
obligation and wishes to either sell, liquidate or any other action
that would break said contract. In that case, or ones especially
simular to this, an absorbtion can occur when another interested party
wished to take over the contract as well as the assets of the breaking
party.
This is what happened with Wiseolowls mining company when it folded.
A hardware and asset manifest was provded, my partner and I evaulated
it against the public information that has been collected and make a
choice on if the asset that will be transfered can substain opperation
once combined into SDM.
In this case, I would like to work it out as such. Provided that the
hardware, website, GLBSE listings are acceptable, SDM would open a
non-public option. That option would be used to buy back existing SIN
shares in exchange for SDM shares. Once the buy back is compleate and
everything is good, you can walk away from this mess.
Let me know if this sounds good to you. Also, you do have a backup
key for the GLBSE login for SIN correct? That is a very vital piece of
binary sorcery there.
On Mon, 07 Nov 2011 20:07:58 -0500, <
[email protected]> wrote:
While I am preparing the list of hardware, please elucidate your
"absorption" plan and what it entails.
On Mon, 07 Nov 2011 13:58:05 -0500, <
[email protected]> wrote:
What I need to know is exactly what hardware you have, what the
outstanding amount of shares are that get a dvidend payment. Once I
know that, I am prepared to assorb the opperation and run it as a
subsid of SDM.
Plese gather a list of all hardware. (gpus, hdds, mobo, adapters, psus, ect)
On Mon, 07 Nov 2011 00:40:19 -0500, <
[email protected]> wrote:
shakaru,
Hello, I am sorry it took so long to get into contact with you after
I said I would. I have been very busy lately. I received your
message on the forums and there will be no need to pursue legal
action, I am fully willing to wrap up SIN, I have just been
preoccupied with other matters lately. I am unsure exactly what you
are offering as far as helping with the liquidation, and what
information you need to move forward. I look forward to your
response.
I am not here to be nice. I am a very pissed off investor. You are a crook. I am only offering to absorb SIN because I already have hardware that dwarfs your vaporware operation, the experience and knowledge of not just how to run a successful operation but also how to act and respond to the people who foot your bills. Ontop of that, I know damn well that I am calling out your bluff. So stop it with this bull shit and start talking.
