Quote from: usagi on July 06, 2013, 10:49:52 AM

Quote from: EskimoBob on July 06, 2013, 10:42:37 AM

Any news? All the NYAN's and CPA are still locked. Cry

If you're looking for news, check out the official thread. Deprived deletes everything I post here, so there's no point talking about it in this thread.

Good luck finding an official thread for CPA or Nyan.

News is that the usual dodgy shit is still going on. It's now next to impossible to work out how many hsares of BMF are outstanding - as the ones owned by Nyan and CPA have STILL not been transferred to their correct accounts. That means the issuing account holds assets of Nyan/CPA as well as those of BMF - a shockingly bad practice that usagi refuses to abandon.

Usagi placed shares up for sale (and sold some) but it's impossible to tell whether they were new shares sold or ones that previously belonged to Nyan/CPA. Logic says that they should be ones belonging to Nyan/CPA - as they're allegedly closing down, so if the fund i tself sold new ones Nyan would HAVE to undercut it as there's no way they could sell above what BMF was selling for. But logic - and acting responsibly on behalf of creditors - don't feature heavily in usagi's arsenal. Without knowing whether the sales are fresh from the fund or existing ones DOES impact potential investors - as, in theory, where sales are above NAV/U new ones are worth more than existing ones (as the extra gos into the fund thus raising the overall NAV/U).

BMF has paid dividends. One would assume Nyan and CPA received their portion off the records - yet there's no sign of distribution of that to Nyan. It may be that usagi mistakenly believes that having made some promise (which he shows little intention of keeping in any reasonable time-scale) to personally repay investors somehow frees him from giving them money they're already entitled to - that would be incorrect. Funds obtained from dividends or from sale of remainign assets (e.g. BitVPS) should still be getting distributed. There's been no news on BitVPS - yet it's paid a dividend. Either funds from sale and/or funds from dividends should have been passed to Nyan.A.

It's obvious that usagi has lost interest in paying back nyan.a - and funds which should go there are being used for his other activities. In fact when BMF relaunched there were also unaccounted for funds belong to BMF - though the bulk of those have now reappeared.

BMF seems to be doing well - investing in core mining businesses such as Just-Dice. Never let it be said that little things like a contract ever got in the way of usagi doing anything (prior to the new contract being passed other investments were fine - now they aren't as there's no provision in the contract for investing in non-mining assets). Interestingly there's no provision for any management fee in the new BMF contract - one of the few occasions where usagi correctly valued something.

I'll be making a request for trading to be halted if the outstanding shares issue isn't sorted - it's just not acceptable for something to run where there's no visibility of how many shares are outstanding.