So no IPO funds were required for the first batch and all the other components needed to make the miners?
So the IPO money was for a chip design and that was all? Damn.
Well we don't know the specifics due to eASIC's NDA. We don't even know exactly how much was raised (FIAT) from the IPO. Don't get so worried, we have plenty of funds.
and nobody in their right mind would wait until they are ready to buy first batch chips, and THEN convert to fiat. Labken has already referred to the conversion process before as a "long and painful process". A good assumption: any BTC that was ever sent to him has already been converted. If there was any BTC left over then it should be in the report, but it's not.
You can get a preferred account on coinbase for a daily sell limit of 500 BTC. Receive the money 2 days after. It's not a very long and painful process anymore.
This is now. That was then. You think he held onto some BTC knowing that coinbase would eventually help him many months later? That makes no sense. Nobody knew to hold onto BTC either because nobody knew it would quadruple in price.
Let me help you navigate my response.
When he takes in BTC NOW from Sales it can be converted easily. That is all, if you read into this anymore especially with your shitty attitude all you would be doing is assuming and would be wrong.
The reports show he has cash to spend on the large batch purchase so why would he even need to convert BTC now?
INB4 "Liabilities and can't spend etc...." right, and this has stopped any company ever from doing so.