I did not follow the whole story, but there's something that does not compute from my point of view.
I bought 12 COG.F2 for 5 BTC each in August. My 60 BTC investment was used to buy CT hardware. Then each COG.F2 was converted to 20 COG in March.
Selling the hardware now would make the final dividend around 0.025 by robitnik's estimation below. So if we liquidate, my 60 BTC become 6 BTC?
What I don't understand is, how did the hardware loose 90% of its value without yielding significant hashing dividends for COG.F2 investors?
Liquidating Cog means selling the hardware with the proceeds being distributed to shareholders.
TerraMiners are going for roughly $8,000 at the moment. 30 TH/s is ~25 units at 1.2 TH/s (19 at 1.6 TH/s). This gives us between $152,000 and $200,000 assuming all units are sold. At current prices, that is between 287 and 377 BTC or between 0.020 and 0.026 BTC per share.
Running 30 TH/s assuming a difficulty increase of 15% every 2 weeks will yield 108 BTC in 6 weeks, 203 BTC in 16 weeks and so on. And we'd still have the hardware although it's value will be greatly depreciated.
Note that the above doesn't include Ebay fees for selling or electricity costs for running the hardware.