Quote from: Jutarul on March 19, 2015, 03:59:08 PM

Quote from: teek on March 19, 2015, 02:44:26 PM

Jutarul, yes i am very frustrated. However thank you for helping answer some of these questions.

Some points to add though:

1) Making a public statement saying that AM has enough capital to move forward regardless of BTC price, on basically the eve of a make or break product, while not having funding in place to produce said product, was EXTREMELY misleading. People bought on that statement and made decisions on that statement. No one was thinking, that BE300 is going to get held up because of MONEY of all things.

The problem with words is that half the time they get misinterpreted. Just because a company stays in business, doesn't mean that they execute certain projects. Did google fail because they didn't bring google glasses to the mass market?

Right now there seems to be some money stuck in accounts, only FC has access to.

Quote from: teek on March 19, 2015, 02:44:26 PM

2) It does make sense to produce BE300 regardless of BTC price as a matter of fact, if we want to talk about timing, everyone is hurting right now, and the block reward halving draws near. The name of the game is to capture as many BTC as possible. This environment could actually be the best time possible to secure a future for AM as while the price it isn't so attractive for new players to enter or competition to forge ahead aggressively with new hardware. The closer we get to the cutting edge technology the harder it becomes. Now is the ONLY time.

You said it yourself. The name of the game is to get a net return on every BTC invested. That's what investors ultimately look for. FC was extremely aware of that point. BTC prices where still in the 370 USD range when sample chips got received. That's when the financing should have been secured (by funding the accounts). It didn't happen.

Quote from: teek on March 19, 2015, 02:44:26 PM

3) I disagree that there was no roadmap, i have no more information than what is posted here and it is plain as day that samples were ordered, they came back good, we knew there needed to be mass production by march / april (basically now). It is obvious the order needed to go in as soon as the samples were confirmed good. Looks like a roadmap to me.
which leads me to #4

4) It is NOT to late to change anything now, btc price is still depressed and though some of the competitive advantage is gone it still seems like BE300 is a good chip and stands to be able to capture some serious BTC, however from where i sit it doesn't seem like anything is being done about that. Doddling around like this just makes it look setup to fail.

Do you want to buyout the company? Be my guest. Current management would love the idea. This is no joke.

Quote from: teek on March 19, 2015, 02:44:26 PM

Another thought: Though you say the duties of the board members weren't defined. Each member had their own duty to themselves (as to protect their own wealth!!!!!) and to shareholders to ensure / steer the company to the right path, ie: to DIRECT. From the sounds of it, you guys let FC handle everything. Not having any idea where finances sit at or letting the FREAKING CEO handle menial tasks such as share transfers for example and accept that as a good use of his time is ABSURD. What the hell is everyone thinking? I know from experience that being the head of even small companies is stressful as all hell, i could not imagine what it must be like to be FC, and everyone, board members and management included failed him. The fact no one knows what is going on is because you guys did not do your jobs to DEMAND to know what is going on.

I don't know how to respond to that. FC is an adult and he was repeatedly asked to delegate and improve certain conditions. He didn't comply with the requests. The desolate state surrounding providing information to shareholders was no secret. What is more surprising in hindsight is that key people who worked with FC on a daily basis failed to see the signs, and if they were they failed in the same way. The Rockminer story is testament to that.

Quote from: teek on March 19, 2015, 02:44:26 PM

I also would like to know the answers to some of the other questions asked in the thread that have gone un answered. Namely:

What BE200 remains unsold and in stock ?

Based on AM management, about 1000-2000 devices worth. The exact number depends on some quality factors.

Quote from: teek on March 19, 2015, 02:44:26 PM

Is there a rough break down of the 10M required? Is it possible to break it up in to milestones as to limit the initial risk for people that may want to get involved?

$2M for fixed costs. The rest is the initial order + potential profit. You can target a lower amount, which either precludes any profit for AM or makes the fixed costs a significant amount. FC mentioned that the minimum order should be around $6M for it to make economical sense, but he said that doesn't include any profit margin.

Quote from: teek on March 19, 2015, 02:44:26 PM

What is the turn around time on a BE300 order, to packaged chips in hand?

2-3 months.

What was your role in AM anyways, you seemed to be one of the first investors, the only one on the board that i remember posting some updates for us other than friedcat, and you sold at least 11000BTC worth of AM stock just on this forum before the downfall(sweet timing).