Quote from: lynn_402 on May 28, 2014, 02:58:25 PM

Quote from: MWNinja on May 28, 2014, 03:09:36 AM

Fine print was y'all was supposed to all pay hosting fees if the BTC earnings didn't cover it. Very very few did, so it put us in a bad predicament. Plus the DC fucked us over, turned everything off, fired my partner. Then held all the gear hostage, we spent $3k with a lawyer to get it out. At that point we had a BTC offer for all the ASIC gear from a private investor, and nowhere to power it so we liquidated it out and bought back the shares. Per the contract, the failure to pay hosting should have resulted in a forfeiture, but we did better than that and bought out at market value of the ANTs for QTY on hand.

Investor didn't want the VGA cards so they are just sitting here. Had I not paid for the lawyer there would have been 0 returned. We aren't done with the legal predicament here, so I think its plenty fair that the sale of that hardware help cover our operating losses first. But theres really no market for VGA right now so I just have a big credit card bill.

Yeah it sucks when things don't work out and the market goes the wrong way; I totally put my heart into this effort and more work than you could ever imagine and now have 1/4 the number of bitcoin I started with.

We are letting those that redeemed for hardware (meeting their obligations) from this group buy participate in the bonus group buy. We'll also consider letting those that took the buyback participate (on a limited case-by-case basis) if they return the buyback btc.

https://bitcointalk.org/index.php?topic=624701.0

Thanks for your answer. I lacked this information, it does seem more fair now.
Good luck on your next projects.

Did we missed this info, or is this the first we are hearing this???