Quote from: labcoin on August 03, 2013, 02:46:19 PM

Quote from: Luckybit on August 03, 2013, 08:11:54 AM

Quote from: TheSwede75 on August 02, 2013, 07:39:42 PM

Quote from: twentyseventy on August 02, 2013, 07:34:24 PM

Quote from: ThickAsThieves on August 02, 2013, 06:20:40 PM

Bingo! The shares should not have been rendered. What incentive does the company have to work at all if they can just sell all their own shares?

Come on, TAT. Plenty of companies have founders that are able to sell their shares. Larry and Sergey didn't cash everything out when Google IPO'd, did te

Labcoin has been posting on the Mining forum for a while and they've got a strong incentive to make more money off of the appreciation of their shares than to sell now.

Though I don't think the Labcoin team are quite comparing themselves to Google ( Yet Tongue

) this is the way they see it. That said, I will talk to Sam about some form of solution that allows for more transparency when it comes to the Founder shares.

I have a question for the Labcoin team which many others probably would like the answer to as well. What are is the first year's forecast profit range? Can we have at least an indication on how much these shares could be worth so that we resist pressure to sell?

We did not sell any part of our stake in the company and we are open to audits on the account where founder shares are stored.
It's very likely that share price will rise in the near future, as we bring online our mining farm.
It's kind of hard to make forecasts about the first year profit as there are still too many unknow variables, for now we're focusing on bringing gradually our first 30-50 Terahash/s online, we plan to complete this goal within October 2013. Chip batches and finished mining Hardware sales will follow shortly.

Sam,
Thank you for updating everyone. Let's chat today about what we can/should do as far as the 'Founder shares' and present a 'solution' Monday.