LRM is the one left holding and owning the gear in the end, as he has made it very clear none of us have any actual stake in the business or hardware. All we have are "contracts" that LRM will pay us. "Contracts" LRM willfully changes after the agreement was struck.
That was the case from the outset though so nothing changed in regards to that.
You are correct, this was the case from the outset.
He's gonna have a hard time making it clear to SEC since he listed this in securities and called them "bonds" which are 1st tier capital investment.
If we were really just customers he would have stuck it in services. "LRM 0.5 BTC a gigahash plus mystery secret squirrel bonus" which probably would be sitting 500 pages back with no replies.
Plus then if you're trying to clear up the fact that your "victims" have no stake, going and calling it a "Group Buy" will not be seen as mitigating of the claim by the judge.
If this was even done as a "kickstarter" with 100% donations to gift a pile of mining hardware to Zach just because we like him, he would at this point be liable for breach of donor intent, which charities and non-profits have been heavily punished for recently.
So don't let him spin anything after the fact, he's got something of yours and owes you an obligation for it.