What would the point of that be? If they were to operate a ponzi scheme then they would just take funds from customers to buy the hashlets to payout the mining revenue, there would be no need to buy actual mining equipment.
The point being they can use that receipt as a way to assuage fears from potential cloud mining clients while they continue to sell fractional virtual hashes at a greater profit. It is far more profitable to simply operate a ponzi scheme where almost all users are not seeing a ROI than actually backing up 100% of their claimed hashes with ASIC's.
Fractional mining is so tempting that I would suspect that most if not all companies selling cloud mining are doing this to a degree.
[/quote]It is my understanding that their coin will launch in the very near future so I doubt that they would get very much incremental business by the time it launches.
Do you know how much they paid for the 5PH of ants? Do you know how much someone would need to hypothetically pay for as much mining capacity as gaw claims to have?
I would agree with you over the short term, however there does not appear to be very many risks to the company once the miners are sold so if they are trying to be in business over the long term it would likely be more profitable to act honestly. You should remember that some of their users have received payments that have exceed the cost of their miners.