...unsuccessful AMhash IPO's.
Those "IPOs" are idiotic. AMHash isn't selling shares in some company. They're supposed to be selling hashing power yet had no shares up for a good few days and the price went above IPO price. So AMHash could have sold more shares but didn't. To limit the amount of time those shares are available to purchase is simply lunacy, they need to be available to purchase round the clock.
And they need to be promoted too. I've seen fuck all in that regards except unofficial promotion by shareholders.
It's likely Friedcat is reliant on successful IPO's of AMHash1-2 to fund Gen4 tape-out/chip orders, otherwise why not just self mine. I would say Gen4 is sink or swim for Friedcat. He might even sink before the tapeout date due to the complete disrespect for customers of the prisma orders and attempt to push an IPO nobody wants (btw I would consider it if it wasn't on havelock).
Gen 4 tape out was in September. It's already been paid for. Why JUST self-mine, when you can self-mine and sell hashing power simultaneously? Selling hashing power gives you cash up front, self-mining strings is out over months and it could turn out less profitable than selling the hashing power.