Quote from: drewmsmith on July 10, 2013, 02:04:58 PM

Quote from: Garr255 on July 10, 2013, 09:45:59 AM

Quote from: Tafelpoot on July 10, 2013, 09:30:19 AM

Garret, could you provide more details on the opportunity? When would you be able to receive these avalon units? And will you share this good news on btct

?

We are currently negotiating a price (in Cognitive shares) for each unit. They are currently in possession of the seller so they would be hashing for us within a week of the purchase. I will certainly share the good news on btctc once we make the transaction

Will these shares be newly created or removed from treasury shares? I'd prefer the latter as it wouldn't further dilute our shares and might take a dent out of that 1000 btc wall that is currently sitting at the .62 share price.

The latter is correct -- these are coming from the treasury shares, which will be beneficial to everyone.

The price we have agreed on is 900 shares for two avalons that hash at over 80gh/s each. I am going to send the 900 shares to JohnK to be our escrow, and the seller is going to send one of the units via 2 day expressmail. Once I recieve the first unit, JohnK will release half escrow and the next unit will be shipped.

I believe this is a great move for Cognitive, as we're actually going to be mining at a higher capacity instead of waiting around and sitting on hundreds of coins and shares!

Cheers,
Garrett