Officially posted on BTCT:
Posted: 2 months ago
Regarding shares owned by the Labcoin founders and developers.
Due to inquiries LABCOIN has received from investors, the founders and developers involved in the LABCOIN project has decided to voluntarily lock in 75% of all shares owned by the LABCOIN core team for 12-months.
Mining started Posted: 12 days ago
We're currently averaging about 2 TH/s in solo mode, and expect to deploy at least 4 TH by monday 16, to reach gradually 50 TH within October.
Status:
- Shares not locked.
- Where are the 4TH/s ? The 2TH/s ? Dividends ?
From the "Asset Issuer Terms of Service:" of BTCT:
"If you are
proven lying on your contract, your asset issuer information, or in
any communication with the exchange, your asset will be
frozen indefinitely, all assets you hold on the exchange will be frozen, and your asset will most likely be
delisted."
"You are responsible for following through on your contract.
Do not promise anything you cannot deliver."
"If found in
violation of these rules, you will be given a warning and will have 7 days to come into compliance.
If you do not comply your asset will be delisted."
People complaining about burnside's warning should keep an eye on that.
Finally, as "Rannasha" said:
The problem with that clause is that delisting only hurts investors. Labcoin already has their IPO money, whether they're listed or not.
This is the only reason why burnside is protecting shareholder's interest by not delisting this >20x lying Labcoin. Right ?