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So it's exactly as I've written it - there are 400k shares, 250k owns Bitfountain and 150k is owned by smaller investors.

Look up the definition of "exactly" and spare us, please. Lips sealed

Quote from: friedcat on August 09, 2012, 08:17:17 AM

Introduction
ASICMINER is a virtual identity totally held by investors of the Bitfountain company. The Bitfountain company's business includes mining with self-built ASIC devices, as well as the sales of them. Currently ASICMINER shareholders holds 163,962 shares, while Bitfountain shareholders holds 236,038 shares.

Now im wondering about these numbers. I might remembering wrong but i believe the last stats at glbse showed around 145xxx shares sold. Something around that. Now its 163,962 shares. Are the difference the shares that werent traded through glbse? Then thats probably the foundation of the confusion about the real amount of sold shares.

It's amazing how long this confusion lasts. The blame must lie somewhere between the unorthodox nature of this investment (i.e. self-managed) and the fallout from GLBSE. Normally all equity has to be clearly distributed BEFORE fund-raising, and this was stated in the original contract. That's why in principle 200k shares are associated with the founders (bitfountain) and 200k are associated with the equity ASICMINER.

The fact that not all shares were sold doesn't automatically upgrade the share holdings of the founders. The 35k shares are unsold equity and owned by the "company" bitfountain and can be used in future fund raising. All dividends payed to these 35k shares goes directly into retained earnings, which may make its way into dividend payments again. (Thus in effect the "dividend" payed to the 35k gets redistributed in a 200k:165k fashion between the founders and the ASICMINER shareholders). The recursion here can be a bit confusing at first, but is only important when dividends are payed.

Thus the proper distribution for dividends is 200k:165k, and NOT 235k:165k. However, for simplicity bitfountain may decide to pay dividends according to the 1/400,000 rule, at which the distribution becomes 200k:200k, and the 35k dividends to the unsold equity makes it into the next dividend payment or company financing, because they act as retained earnings...

friedcat may want to clearly make a statement on how he wants to implement this (200k:165k or 200k:200k with delayed dividend), before he prepares the next dividend payments and signs off the financial statements.

If this is in fact the position of the company, awesome. It is good to finally have clarification on that point.