Quote from: Spondoolies-Tech on June 11, 2014, 05:12:44 AM

Quote from: bobsag3 on June 11, 2014, 02:22:47 AM

Nice to know where all the SP10s went.

CBCM are legit. Assuming their first round will be a success, we'll cover it with 35 SP10s we removed from our stock.
We also helped them secured additional hosted hash power in case their subsequent rounds will be successful, from a trusted partner and customer we're working with.

Guy

Quote from: Spondoolies-Tech on June 11, 2014, 06:08:46 AM

This is not endorsement to buy CBCM, but I look at PBMINING cost. The electricity alone for 5 years cost a lot more than the contract cost per $/GHs
Either it is a pyramid or they expect to replace with new hardware at an unrealistic rate. Do the math.

Guy

Quote from: Spondoolies-Tech on June 11, 2014, 01:38:28 PM

I know and familiar with all the placement details.
Assuming each round will succeed, there will be a quick placement. Initial placement will be with 35 SP10s we agreed to host.

We've due diligence all the parties involved, and I'm 100% confident.
Moreover, hefty collateral has been taken.

This should not read as an endorsement to participate in the IPO, but to assure the prospect investors that Taras and the offer is genuine.

Guy

Quote from: Spondoolies-Tech on June 11, 2014, 01:52:06 PM

Quote from: RiverBoatBTC on June 11, 2014, 01:45:50 PM

Quote from: NotLambchop on June 11, 2014, 01:42:22 PM

Quote from: Spondoolies-Tech on June 11, 2014, 01:38:28 PM

...
We've due diligence all the parties involved, and I'm 100% confident.
Moreover, hefty collateral has been taken.
...

My understanding is Havelock sends you the take from this IPO, so your risks are negligible to nonexistent. Why the "hefty collateral"?

And what are you 100% confident in? The delivery of the units or the operation of the company?

It's three ways deal between cbcm, the hosting facility and Spondoolies-Tech. All is Kosher.
The miners will be placed and will mine per the promised hashed-rate after each successful round.

Again - this is not an endorsement to participate in the IPO.

Quote from: Spondoolies-Tech on June 11, 2014, 02:02:24 PM

Quote from: Another User on June 11, 2014, 01:59:43 PM

A long extended (essentially interest-free) loan for Spondoolies.

As explained, our entire "share" of this IPO is 35 SP10s for round one.

Edit: We also helped them secured additional hosted hash power in case their subsequent rounds will be successful, from a trusted partner and customer we're working with.

Quote from: Spondoolies-Tech on June 11, 2014, 02:28:10 PM

We're not the one initiating the cbcm IPO. Our part of it is only the 35 SP10s promised for round 1.
Initially we thought we'll be able to cover more rounds. When the SP10 were sold out, we helped cbcm secured additional hosted hash-power from a trusted partner and customer we're working with.
The collateral will make sure the placement after each successful round will happen.

This is the sad truth: we sold the SP10s too fast to cover the IPO. Havelock Window for the IPO came too late.
This whole IPO will have zero impact on our bottom line. We could have sold 1,000s more SP10s if we had them in stock.

Regarding the SP30: We're selling the SP30 Yukons very fast as well.

Regards,
Guy

Edit: And for the last time, we don't endorse the IPO. We just make sure it run by honest people who will fulfill their obligations. We had to do that to protect our name.

Added:

Quote from: Spondoolies-Tech on June 11, 2014, 04:48:15 PM

Since our name is involved, we wanted to make sure both CBCM and cowboyminer will respect their obligations. They will.
Even without the collateral, their handling and conduct was professional.

Added:

Quote from: Spondoolies-Tech on June 11, 2014, 05:23:44 PM

I'm getting tired, so this will be the last answer.

The collateral is against faithful execution of the IPO promises to the prospect investors. It has nothing to do with the 35 miners I'm selling. Since three entities are involved (four with Havelock), we had to make sure it will be executed cleanly. It will.

I'm repeating my statement that we don't endorse the IPO. If it will succeed, it will be executed - this is our promise backed up by the collateral.

Looks like they sold their pre-orders as quick as possible and now promise to offer their hashrate to others before you.

Added:

Quote from: cowboyminer on June 11, 2014, 08:54:52 PM

A good and strong company like spondoolies is even backing this up.

What happened to having only one deal? I thought Cowboyminer was supposed to do all future supplies?