Robitnik, I'm really greatful for your summarizing the history.
I think that the crux of what I don't understand is here:
If COG.F/2 shares were instantly converted to ordinary shares at the time of purchase (i.e. when we made the deal for the hardware), the value of the hardware per share would have been 650/14420 = 0.045 BTC per share.
that means that when we made the deal for the hardware, each 5 BTC COG.F2 share immediately became 20 x 0.045 = 0.9 BTC worth of COG shares?
Because the investment of COG.F2 investors was dissolved with previous COG owners? Is that fair?