Oh, now it makes even more sense to me...
Cloudhashing sent TH just enough money to purchase another 10,000 Avalon chips on May 14th, right when TH says they would have made a second avalon order.
Now comes June and Cloudhashing wants a refund, but TH has no money. The only way to raise money for a refund is to accept pre-orders.
Quote
sending $79,109.13 up front on 14th of May
Cloudhashing sent TH just enough money to purchase another 10,000 Avalon chips on May 14th, right when TH says they would have made a second avalon order.
Now comes June and Cloudhashing wants a refund, but TH has no money. The only way to raise money for a refund is to accept pre-orders.
Seems right, and I guess I can't say I blame them.
The good news is that the offering to the public gets another 10k chips