Quote from: laustcozz on September 24, 2014, 08:24:01 PM

Quote from: sngwinner on September 24, 2014, 06:54:55 PM

I disagree. He does owe the investors information about the status of the company since we own the company.

I believe that he only thing he owes us is equal dividend per share. By holding the majority of shares himself, his decisions on when/if to release information are 100% his to make. I may not like it, but I certainly don't believe it is my "right" to know more. I can get out any time I want if I decide he is doing it wrong. This is a system that is ripe for abuse, but it is the system that we all chose to get involved in by trading in an unregulated market.

Look, this is bitcoin world but Friedcat has to choose whether he wants to operate in an above board and transparent manner or in a shady grey area. We are shareholders of Asicminer. As an officer and director of the company Friedcat has three duties to shareholders: the duty of care, the duty of loyalty, and the duty of disclosure.

Regarding duty of care, Friedcat seems to be doing his best and working hard at the operations of the company and I don't think there have been any huge mis-steps. I truly appreciate that and commend him on his efforts.

Regarding duty of loyalty, it seems like Friedcat has been loyal to the interests of the shareholders and hasn't been making decisions that benefit him or bit fountain rather than shareholders.(although that has been questioned with Rockminer and I don't think it's been disclosed if or how much he and other bit fountain members are being compensated outside of dividends). We don't know for sure that Friedcat has maintained his duty of loyalty because he has failed so miserably at his duty of disclosure.

We haven't received a financial statement in quite some time. We don't know the current status of relationships with franchise partners. We don't know the size of our hashrate. We have a goal from a few months ago and no update on the progress. Why aren't these things being disclosed? It doesn't take too much time to jump on here and provide a little update and most of those things won't be of use to the competition. . I know other people have volunteered to act as a PR contact and someone has even been chosen but nothing has changed.

Getting back to my original point, Friedcat seemed to have wanted to operate in a transparent shareholder friendly manner for a long time. At some point that changed. I feel like the company is at a turning point. Friedcat can choose that Asicminer be perceived as a legitimate entity that is loyal and responsible to its shareholders or a questionable entry that may not live up to its promises.

I'm in this for the longhaul because I believe that Asicminer can act like a responsible company and operate profitably. I would just like for Friedcat to prove me right.