Frightening really, I know of individuals digging into their own pockets to the tune of 100,000 USD to 200,000 USD to buy equipment for themselves in the early days. Here to be struggling to raise a meager 750,000 USD through some Micky Mouse OTC company is shocking. Could of easily tapped +/- 7 x long standing customers for a bail out and kept their points. Does not bode well for the future.
There are so many conditions on BTCS' "investment" that I can't make head nor tail of it, pages of terms in the additional documents. There aren't any additional details on the Spondoolies part of it but there may be additional conditions. Also Spondoolies will be getting an additional ~$300k in sales from BTCS on top of the direct investment.
You know what I find most interesting here.... BTCS is a publicly traded company, and is subjected to all the rules and regulations of the SEC, IRS, and FINCEN. They have to publicly disclose every single thing they do. They have done this and been in compliance for years now. Unless you are a thousand dollar an hour SEC lawyer you won't be able to understand all of the filings. They're not for you to understand. They are for their own compliance with the SEC. They are doing things the right way. Albeit slowly, but correctly. They get called "Mickey Mouse" (Which I think is laughable) when they have their company listed on the OTC, (which is where most start ups begin) they've successfully raised almost 10 million over two years, merged with a larger hardware company, have a solid multi year business plan, a huge mining facility, and are virtually debt free. Yet and still so many of you guys knock them for this or that... They are a BUSINESS. That means like everyone else here they want to turn a profit. They're following their business plan and based on their publication will uplist to the NASDAQ this year, and release the SP50 after they fill their own data center. Their loyalty is to their investors and stock holders. Why would anyone of you think that they should be loyal to someone who is a miner or someone who is "in the BTC community" instead of a stockholder or investor? Come on guys. If you want to make some money on this deal - I know we all do - Invest in their stock. They are the only publicly traded company in this space, and furthermore, imho they are one of the few who we can bank on doing what they say they are going to do. We may not like their decisions and we may not agree with them all, but you can bet they will follow through.