As of May 4, 2016 Spondoolies-tech has ceased operations.
Sorry to see you go!
It was a fun ride. Thank you for everything and good luck in your future ventures!
Spondoolies may have abused the fact that BTCS kept giving them money for only token amounts of equity, then filed for bankruptcy so they keep the money and pay out their own creditors / investors. Maybe this was the master plan Guy had all along and why no one else could work out why they were merging with BTCS.
Alternatively, a different creditor filed to force them into bankruptcy before I got around to it and so while neither Spondoolies or BTCS chose this, its still happening.
They 'merged' with BTCS which from what I understand has "sole' use of their SP 50's if they exist yet.....(any correction on this welcome)
So Spondoolies...'merged' and took the money and ran....(hey no shame in that) but they are not into personal miners or heck any public for sale miners anymore from
They received $2.25M from BTCS, that's a significant amount.
For Roadstress The Cheerleader Shill, this bankruptcy is "
a fun ride." For BTCS investors and shareholders, it is
devastating.
ROADSTRESS is a troll. He helped Spondoolies scam 100 MILLION $ from BTCS and group buyers.Just to make it clear, I was referring to the $1.5M and $0.75M investments Spondoolies received while the merger was pending. These were topups to keep the company alive and seemingly healthy while the merger was pending, as it took longer than expected to gain all the approvals. These two amounts amount doesn't include the actual merging money which never triggered.
In return for the $1.5M on December 15, 2015, BTCS received just ~3% of Spondoolies equity. Similarly for the $0.75M on December 15, 2015, they received just ~3% of Spondoolies equity, again giving Spondoolies a valuation of $25M for a very dead company. These are the "token" payments that Spondoolies appears to have taken to the grave with them, in funding rounds with likely their highest ever valuations. Crazy stuff.
Edit: To comment about RoadStress - he did at times act as Spondoolies attack squad as to keep their hands clean, but from his perspective there wasn't anything wrong with the company. He organised a group buy and received his remuneration; apparently most affiliates didn't. To then deny the existence of such claims and failures of the company was shill like though. People's mortgages, investments and even entire companies are are on the line here but its okay just as long as he got paid.