Topic: Starting a new FPGA mining farm/contract! Cognitive Resurrected on[Havelock] - page 58. (Read 300616 times)

TODAY IS 01/26/14, IT'S BEEN 102 DAYS SINCE GARRETT LAST PAID FIMB DIVIDENDS.

Garrett, CEO of Cognitive Mining, issued FIMB (http://imgur.com/ePE3CyT), a BTC backed bond with 2% monthly interest, on the now defunct BTCT.CO securities exchange. After a couple months, he simply stopped paying dividends and walked away, without ever giving an explanation to bondholders.

I am sorry for the spammy nature of this message but it's one of the only ways of pressuring Garrett to come out of the shadows and resolve this issue, and also serves as a warning for anyone thinking of putting their hard earned money on anything ran by Garrett.

Some people say Garrett has been around with Cognitive for too long and is certainly "not a scammer". I leave it up for one's judgment how to call someone that does what Garrett is doing.

I own 7712 bonds (face value: 77.12BTC), my withdrawal address is 1Bqg9YKE25U1BRCRm3pJiGsiFE5vvgirtB and I'll post this message every day until he pays up late dividends and principal.

GARRETT, PAY UP.

Garrett,
Any update on progress with electrical work and litecoin hardware?

Nothing is ever "about to happen" in bitcoinland.  Everything is "2 weeks away(tm)" until it has already happened.  Except maybe for ASICMiner, which for some reason, price jumps happen on estimated dates even when there is no news.

With mining about to start I would of thought there would of been a small rise in share price.  

Which isnt good 

edit: i currently am not a shareholder

He is busy heating a larger pan for big fishes.

TODAY IS 01/25/14, IT'S BEEN 101 DAYS SINCE GARRETT LAST PAID FIMB DIVIDENDS.

I'll post this every day until he pays up late dividends and principal.

I own 7712 bonds (face value: 77.12BTC), my withdrawal address is 1Bqg9YKE25U1BRCRm3pJiGsiFE5vvgirtB

GARRETT, PAY UP.

TODAY IS 01/24/14, IT'S BEEN 100 DAYS SINCE GARRETT LAST PAID FIMB DIVIDENDS.

I'll post this every day until he pays up late dividends and principal.

I own 7712 bonds (face value: 77.12BTC), my withdrawal address is 1Bqg9YKE25U1BRCRm3pJiGsiFE5vvgirtB

GARRETT, PAY UP.

Quoted for truth.  At least *someone* understands what "shares" mean.

Seriously you need to stop with this, those shares are not yours, they are not for 're-appropriation'. If they remain unclaimed perhaps dividends should be kept on hold, but they very fact they are unclaimed doesn't give you, or anyone else the right to steal them. 

ps you might not have realised this, but becasue they remain unclaimed, it has effectively already reduced the overall share total, and hence increased the price of shares on the market.

Take a closer look: For cognitive, issuer is COGNITIVE <[email protected]>

For  FIMB, issuer is CREATE <[email protected]>

That is, he registered a different account to issue FIMB (actually he registered it for another security, but then re-purposed it for FIMB).

Email is the same, BTCT.co allowed one to use same email for multiple accounts.

No, I don't think everyone would agree on that at all.

Even so, we are faced with two possibilities here:

1) Garrett is a scammer,
  or
2) Garrett is completely incompetent and unable to manage this company and our hardware effectively.

A lot of people seem to be insisting that #2 must be the case. However, I'm not sure why that inspires any more confidence compared to option 1. In either case, it does not help investors in Cognitive and does not bode well for the future of this company.

Obviously since Avalon blew up the only way FIMB would NOT be in default is if Garrett paid out-of-pocket.

The Avalon chips COG ordered were refunded, and those funds were applied to a cointerra order.  If I had to *GUESS* (and that's what we have to do when Garrett doesn't tell us anything, HINT HINT GARRET!), I'd guess he did the same thing with the FIMB funds and will be getting hardware from cointerra soon which he hopes to use to pay the FIMB divs owed.  The avalon failure isn't Garrett's fault, but the following things are:

1. Garrett didn't communicate what was going on with FIMB
2. The original FIMB contract doesn't seem to discuss risks at all - it isn't as obvious as it could be (but still pretty obvious IMHO) that if avalon chips fell through the bond would default or be delayed.


FIMB holders: FIMB are COG are both run by Garrett.  Garret is in default, COG is not.  Since this thread is seemingly the best way to talk to Garrett in public, I'm fine with you continuing to complain here, but please stop saying COG is in default.  Garrett is in default.

Garrett:  Please for goodness sake just explain the FIMB situation (if you're waiting on cointerra hardware, say so - if you are hoping to pay out of pocket - say so.  If the whole thing is going to default because of avalon's failure - say so.  These things are always a risk and people knew they were taking a risk when they invested).  Stringing people along with no news is the worst thing both for your rep and for other companies you also manage, like COG.

That's not how I understand it and IMO it's very questionable practice to use the name of the company you run to issue a personal loan, in the same market where the company is listed.

Nevertheless, in the end it boils down to this: Garrett, CEO of Cognitive Mining, is on default with his obligations. Tomorrow is the 100th day since he last issued dividends and he never took the time to come here or anywhere else and give a half decent explanation, despite my insistence. So If he doesn't come by tomorrow with some basic answers and a payment plan, I will start a request to put a scammer tag on him.

It's simply an email address. If I have email address @gmail.com it doesn't mean that I work for gmail.com.


References are not a part of a contract. They are simply links to his other ventures to show that he is credible.


Yes, and that's a normal practice. It's like a CV: you always mention what company you currently working for and what companies you worked for before so that people can assess your credibility.


Well, contract doesn't say that it is associated with Cognitive, and in fact "Organization and Management" section only mentions Garrett.

It is your fault that you misunderstood it. DO NOT invest if something is not 100% clear.

I hope you are not playing obtuse on purpose when you say you don't see Cognitive's name mentioned in FIMB's contract.

• Issuer section:

garrett@cognitivemining.com

• Issuer Detail section:

Summarizing the situation: either FIMB was issued by Cognitive or Garrett used Cognitive's name all over FIMB's contract to boost confidence, never making it clear in the contract it was a personal loan. It seems to me that the second scenario is even worse for his reputation.

Either way, I'll keep exercising my right of complaining at the only place he seems to come once in a blue moon:

TODAY IS 01/23/14, IT'S BEEN 99 DAYS SINCE GARRETT LAST PAID FIMB DIVIDENDS.

I'll post this every day until he pays up late dividends and principal.

I own 7712 bonds (face value: 77.12BTC), my withdrawal address is 1Bqg9YKE25U1BRCRm3pJiGsiFE5vvgirtB

GARRETT, PAY UP.

No.

COG : COGNITIVE
FIMB : I don't see anywhere COGNITIVE is mentioned on the contract.

Nice try. Sorry for your loss.
 
Also :

+1

Emphasis mine. The first time FIMB was mentioned in this thead was 23. September and FIMB was already trading:


If it was related to COG you'd think it'd be mentioned before trading starts.

I am sorry but you can't reach that conclusion merely from a buried comment he made in a forum.

What is relevant here is the contract, and both COG and FIMB contracts at BTCT.CO were issued by exactly the SAME entity: Cognitive Mining. There is not even a remote indication Garrett was issuing this as a personal loan, and if this was his real intention, then using Cognitive's name in FIMB's contract was blatant dishonesty. For your ease of reference:

• COG's contract:http://imgur.com/NbmhD2t
• FIMB's contract:http://imgur.com/ePE3CyT

To come now and say FIMB is a personal loan to someone is a slap in the face of those who trusted in the company's capability of paying it back, so let's keep this clear: FIMB was issued by Cognitive, and Cognitive is defaulting for not paying it back.

FIMB is not linked to Cognitive.

Garrett wanted to buy more mining equipment for himself, so he borrowed some money.

From that thread:


So, apparently, it was a personal loan: Garrett said that he will pay out of his own pocket.

As we know, his mining endeavor totally failed: Avalon did not ship their chips in time. And thus Garrett, as a person, defaulted.

Cognitive is also in a state of default, but for a different reason: we didn't receive correct dividends for October/November.

People who say that Garrett is trustworthy are either retards, or liars who want to sell COG at a good price.

I think everyone would agree that Garrett is not a scammer, he is doing his best but he has reached his limits and cannot manage COGNITIVE alone any more.

I want someone like Joshua Ziggas alias investr as a full-time employee for Cognitive. Anyone else want to apply ?