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Showing 20 of 35 results by asnonmous
This is interesting, keeping in mind that the value of.the shares depend on the value of btcat given time
Nevermind, I've opted to do other things. Firstly, as Pzi4nk pointed out, AM has such huge upsides that any such put option would have to be ridiculously one-sided to make it worth it. I did the same math(after I posted) and realized no one would do this, especially not with nearly a million dollars.
Secondly, no one responded, which wasn't surprising. So this thread can be closed.
I would like to BUY ASICMiner PUT contracts, 5000 shares(Board seat).
Strike price: 1.15 BTC/share
Price: Negotiable, suggest 7%.
Length: 6-9 months, negotiable.
Here's how this works, subject to negotiation. We'll sign a contract for the shares of ASICMiner. At any point during the duration of the contract, I have the option of exercising the contract, and sell ASICMiner shares to you for 1.15 BTC each.
What you get: A significant number of ASICMiner shares or BTC, delivered immediately.
The BTC needed to complete the contract will be held in escrow, preferably with John K if he is ok with this.
If during the contract, ASICMiner is worth equal or more than the strike price(I.e., if I choose not to exercise the option), you get the BTC back, and you keep the btc/shares that you got up front, which should be significant.
If during the contract ASICMiner is worth less than the strike price(i.e., if I choose TO exercise the option), you get my AM shares and I get the BTC. You still get to keep the btc/shares that you get up front.
I can prove ownership of the shares.
I would prefer to close this deal with a single participant, but I expect finding someone with that much BTC (5750 BTC) to sell me the contract is unlikely, so I can break it up. No less than 500 shares though, to keep this manageable for the escrow.
Who would take this deal? Someone who thinks ASICMiner will rise a bit or stay where it is over the duration of the contract.
Why am I doing this deal? Because I have a pretty major proportion of my total investments in Asicminer, and I need to balance out this risk to stay sane. I believe in Asicminer, and as a board member I have strong evidence that the company is working on a very strong long term plan, in addition to their internal goals of 50%+ reinvestment of dividends. The most recent purchases by Friedcat (200TH/s on order, 10,000 USB miners on order, long term contracts for hundreds more TH/s) are indicative of these long term goals & planning.
Strike price: 1.15 BTC/share
Price: Negotiable, suggest 7%.
Length: 6-9 months, negotiable.
Here's how this works, subject to negotiation. We'll sign a contract for the shares of ASICMiner. At any point during the duration of the contract, I have the option of exercising the contract, and sell ASICMiner shares to you for 1.15 BTC each.
What you get: A significant number of ASICMiner shares or BTC, delivered immediately.
The BTC needed to complete the contract will be held in escrow, preferably with John K if he is ok with this.
If during the contract, ASICMiner is worth equal or more than the strike price(I.e., if I choose not to exercise the option), you get the BTC back, and you keep the btc/shares that you got up front, which should be significant.
If during the contract ASICMiner is worth less than the strike price(i.e., if I choose TO exercise the option), you get my AM shares and I get the BTC. You still get to keep the btc/shares that you get up front.
I can prove ownership of the shares.
I would prefer to close this deal with a single participant, but I expect finding someone with that much BTC (5750 BTC) to sell me the contract is unlikely, so I can break it up. No less than 500 shares though, to keep this manageable for the escrow.
Who would take this deal? Someone who thinks ASICMiner will rise a bit or stay where it is over the duration of the contract.
Why am I doing this deal? Because I have a pretty major proportion of my total investments in Asicminer, and I need to balance out this risk to stay sane. I believe in Asicminer, and as a board member I have strong evidence that the company is working on a very strong long term plan, in addition to their internal goals of 50%+ reinvestment of dividends. The most recent purchases by Friedcat (200TH/s on order, 10,000 USB miners on order, long term contracts for hundreds more TH/s) are indicative of these long term goals & planning.
Re: ASICMINER: Entering the Future of ASIC Mining by Inventing It
If they are paying just the right amount, it makes no difference whether we sell or mine.
People are not going to pay the right amount though. So far it's clear they are are willing to far pay more for a Blade than it's likely to earn over the device life time - even if they get it within a few days of ordering.
So you think our customers are stupid then?
Re: ASICMINER: Entering the Future of ASIC Mining by Inventing It
The key thing is that ASICMINER won't be able to sell at that price again.
We won't know that until the next auction.
AM's proven record of rapid order satisfaction (which has now removed any uncertainty about their ability to deliver) and the resulting publicity may increase the final bids for future offerings beyond the initial results.
Exactly. A 4 day delivery time is insane compared to our competition. Each day of delay is worth, currently, ~0.6btc. The delays of Avalon are largely unpredictable. BFL flat out can't be trusted. AM delivers, and they deliver ridiculously fast.
Moreover,
At the price the Block Erupter Blades sold for I'd MUCH prefer that they sell the new ASICs rather than mining with them.
That is only true if you assume that the miners buying these are making a mistake. If they are overpaying it is better for us to sell them. If they are underpaying it is better for us to mine with them. I trust that they have worked out the math before making a bid for several thousand dollars. If they are paying just the right amount, it makes no difference whether we sell or mine.
Nasty
Are you using your own funds to pay for the expansion? If so, why?
Are you using your own funds to pay for the expansion? If so, why?
Yes, I am. We've never discussed having NastyFans pay for infrastructure improvements, and I didn't want to start an argument or turn away potential/existing seat owners with unexpected costs. For that reason, I saw this as another opportunity to show my dedication to the project. If for some reason there were NastyFans that wanted to help me with the a/c and electrical circuit costs, the total is going to be ~$2,000 and donations can be made to my BTC address: 168WXhArv7Fasqvi2xm5MQMfLhG18jifMe
Your dedication is awesome. I'm donating appr $120 to help cover the cost of the upgrades in proportion to some seats I own, plus some extra to help cover the cost of the Jalepeno that you are sharing with the mining. I encourage other fans to donate likewise in proportion to their shares. Not just because they appreciate what OgNasty does, but also to further the partnership that we have and encourage more in the future.
Re: ASICMINER: Entering the Future of ASIC Mining by Inventing It
You have to dig for it but a while back friedcat said the platform would be available for the first dividend payment.
That is indeed what Friedcat has said before..... Trading platform would be up and running before the 1st dividend payment....
He also has stated on multiple occasions that it would be a 3rd party solution closely affiliated to them....so it would seem that development of the platform would in no way hinder the deployment as it is done by someone else....
He didn't mention it in his last post, so I doubt it is going to be present.
friedcat, do we know when the share trading platform will come online? (Of course getting up boards is the priority.) Does anyone know the fair market price? I saw some trade at .38 recently. Thanks!
They've traded @ up to .52 recently.
https://bitcointalk.org/index.php?topic=144676.20
Seriously, there is not many factors that count towards price drop and so many towards increase. Of course its all speculation, but saying its overvalued is far from an educated guess.
And to everyone directly asking friedcat when the platform will be released, he states that very thing in his very last post. The 28th.
That was using the original, probably-optimistic timetable.
I wish we could be sure we'd have close to 1/4 of the network for an extended period of time. But it isn't good to evaluate a company based on rosy-colored numbers like that. 1/10th is what they set out to target; 1/10th is a more reasonable conservative estimate. The competition is not going to wait forever to bite into the ASIC profits.
Re: ASICMINER: board seat (equivalent of 5000 shares) for sale
The transferring has been processed. To make the database more complete, the owners of following addresses could PM me with your e-mail address.
*) 100 to address 1AXKZp4KU4tA4yPoFtHQPHoUi2DmWgHdEd
*) 200 to address 1ZKrazKLvfxNCYqk4BbboxiPonB9U3Pwh
*) 100 to address 1Bgu2w4vBTXDDkpWkjAeomVnRRYASnCaJV
Great! Zefir and asnonmous, would you consider this transaction to be done? *) 100 to address 1AXKZp4KU4tA4yPoFtHQPHoUi2DmWgHdEd
*) 200 to address 1ZKrazKLvfxNCYqk4BbboxiPonB9U3Pwh
*) 100 to address 1Bgu2w4vBTXDDkpWkjAeomVnRRYASnCaJV
Zefir, please provide to me the address where I should release the funds when the transaction is complete.
My address for this deal is in the contract: 16CV4ktaWSp9TjEt2Wf4MMDhYbYi4TKXGc
As for friedcat's confirmation: I included asnonmous' email address in my transfer request, since he becomes a board member and is added to the related mailing list. That's why friedcat is asking only the other three buyers to provide an email address, nevertheless all 4 transactions are confirmed.
I'm also fine to wait for all buyers to get their personal confirmation before the funds are released.
Friedcat has confirmed the transfer to me in PM. Signed message:
Code:
Friedcat has confirmed the transfer to me in PM. I am clearing John to release the funds(2200 btc) to Zefir, and will send John a tip by end of day(In addition to Zefir's mentioned escrow tip).
Signature(Bitcoin-qt 0.7.2):
Code:
HzNWY+tRbfLMRB9lPhkrU3Kfvc2riK/SzBrvD7Z93xwGYx3P3iTCsYBoTW0MiwTTDQ3iNCkz6Ud+OmO8a4xJwgM=
Also, Vezunchik, it is pretty blatantly unprofessional and untrustworthy to not follow through on a bid, and then demand the seller compete in a reverse-auction on a different thread. That just isn't how these transactions are supposed to be done, and indicates a lack of trustworthiness. I'm sure Zefir won't mind too much, as he only wanted to sell 5,000 shares to begin with, and the auction ended up with him selling more. And Asicminer seems to be doing well. But you have wasted his time, Graet's time, and other's time in this thread.
Re: ASICMINER: Entering the Future of ASIC Mining by Inventing It
ASICMINER just turned back on at BTC Guild [shares counter started increasing again, and speed did not fully drop to 0]. Remember that the speed shown on hall of fame is a 1-hour average, so don't be alarmed if it looks like a slow growth back up.
Awesome, thanks for your diligence!
Re: ASICMINER: Entering the Future of ASIC Mining by Inventing It
Hmm. miners going offline en masse, hashrate down to 2 TH/s.
BTCGuild appears to use a moving average to calculate hashrate. As fast as it is dropping, I'd say ASICMiner is 100% offline.
Re: ASICMINER: Entering the Future of ASIC Mining by Inventing It
It looks like ASICMiner just went offline. It is down to 1,940 MH/s. I hope friedcat or someone gets a text message alert or something if it goes offline. Or maybe they are doing some sort of testing?
Re: ASICMINER: board seat (equivalent of 5000 shares) for sale
2200 BTC has been sent to the John as an escrow. Transaction:
http://blockchain.info/tx-index/55152844/e06c3cab9a23287d55ac6f57bcee157e56aebaef5e63be09187a4eaef3d4963a
Thanks
http://blockchain.info/tx-index/55152844/e06c3cab9a23287d55ac6f57bcee157e56aebaef5e63be09187a4eaef3d4963a
Thanks
this might be the largest OTC trade with escrow ever. Glad to see it!
Thanks, kind of intimidating. I doubt it is the largest in bitcoin numbers, but perhaps it is the largest in cash value given the recent rise? I hope I made a good choice!
Really comes down to butterfly labs shipping and avalon's shipping rates.
I remember that last time nanotube held escrow for Vandroiy and Pirate's bet for 10,000BTC, so there's larger OTC trades AFAIK. I've transacted more in Bitcoin numbers back in the good old days, but this is the largest transaction in fiat for me so far too. I have the addresses backed up with a lawyer and a couple of safes, like my personal holdings are.
This whole ASICMiner escrow business is getting expensive for me - I'm seriously considering to charge a fixed fee to cover the risks and time spent for future larger and longer transactions now
I will be certain to tip nicely for your time and risk- What address would you like the tip to go to? Thank you so much for doing this.
Re: ASICMINER: board seat (equivalent of 5000 shares) for sale
2200 BTC has been sent to the John as an escrow. Transaction:
http://blockchain.info/tx-index/55152844/e06c3cab9a23287d55ac6f57bcee157e56aebaef5e63be09187a4eaef3d4963a
Thanks
http://blockchain.info/tx-index/55152844/e06c3cab9a23287d55ac6f57bcee157e56aebaef5e63be09187a4eaef3d4963a
Thanks
this might be the largest OTC trade with escrow ever. Glad to see it!
Thanks, kind of intimidating. I doubt it is the largest in bitcoin numbers, but perhaps it is the largest in cash value given the recent rise? I hope I made a good choice!
Really comes down to butterfly labs shipping and avalon's shipping rates.
Re: ASICMINER: board seat (equivalent of 5000 shares) for sale
2200 BTC has been sent to the John as an escrow. Transaction:
http://blockchain.info/tx-index/55152844/e06c3cab9a23287d55ac6f57bcee157e56aebaef5e63be09187a4eaef3d4963a
Thanks
http://blockchain.info/tx-index/55152844/e06c3cab9a23287d55ac6f57bcee157e56aebaef5e63be09187a4eaef3d4963a
Thanks
Re: ASICMINER: board seat (equivalent of 5000 shares) for sale
I signed the contract a couple of posts ago, but I'll re-sign it with the newest address.
Code:
-----BEGIN PGP SIGNED MESSAGE-----
Hash: SHA1
1) Purpose
This contract regulates the finalization of the ASICMINER auction in
https://bitcointalk.org/index.php?topic=142038.0
2) Buyers
PM.6 100 @ 0.45
ghostshirt 200 @ 0.45
Vezunchik 100 @ 0.45
LainZ 100 @ 0.45
asnonmous 5000 @ 0.44 (including 500 from board chair option)
3) Seller
Shares are sold by user zefir. They are currently held directly by
friedcat as a PGP-signed lock-in contract.
4) Escrow
Graet and John (johnthedong) will escrow the transactions. Buyers
decided whom to choose, resulting in the following transaction plan:
PM.6 45 BTC to 1EEFt1JqyTuTEsGHERJj58QcYb72BaPeTj (Graet)
ghostshirt 90 BTC to 15A8ztRxjnHud6unJi3dLpB9bLGdXVxAyg (Graet)
Vezunchik 45 BTC to 1hnvX9pA6eSZPfGEaLHR1RHM6RE82yUox (Graet)
LainZ 45 BTC to 18AfJDFimnxRCbK4JbzqdHm1SigCySYT3p (Graet)
asnonmous 2200 BTC to 1CuNd5n42cfqDz8SPVLSRsGHk2tLcHVMGh (John)
Payment shall be made from an address that the buyer fully controls,
i.e. is in possession of the private key, so the escrow in case of
disputes and cancellation can return the funds to sender.
5) Activation
This contract will be posted in the auction thread and changes its
status to active when both escrows and the seller digitally sign it,
either by PGP or Bitcoin address signature.
6) Acceptance
After activation (i.e. the time when all three signatures from point
5. were posted), the buyers accept this contract by sending their
respective payments to the escrow addresses given in 4. They are
given three days (72h + 12h time zone margin) to finalize the trans-
action in full. Failing so, their deal status changes to canceled.
7) Share Transfer
ASICMINER is going to have its private exchange that is scheduled to
go online before the first dividend payment is processed. As soon as
it launches, buyers need to open an account and provide all required
data to seller to initiate a transfer of shares. Since the details
of the new exchange are not yet known, no defined deadlines for the
transfer can be provided at this time. Seller is limited to do this
with best effort and will keep buyers and escrows informed about the
status.
On top of the transfer handled over the new exchange, seller will
attempt to reach agreement with friedcat to split his position
according to the sale and move them to bilateral contracts between
buyers and friedcat directly and get their shares assigned to them
before the exchange launches. Success solely depends on friedcat
and can not be guaranteed.
8) Dividends
Buyers are entitled for all ASICMINER dividends. Share transfer is
scheduled to finalize before the first dividend is paid. Any dividends
paid for any reason to seller shall be forwarded in full to the buyers
at their following addresses:
PM.6 1AXKZp4KU4tA4yPoFtHQPHoUi2DmWgHdEd
ghostshirt 1ZKrazKLvfxNCYqk4BbboxiPonB9U3Pwh
Vezunchik 1AkZFPx76RWEEpojMj5RvGDDesZxPazVdF
LainZ 1Bgu2w4vBTXDDkpWkjAeomVnRRYASnCaJV
asnonmous 12mwAvJywtQF5rJXHzdBQd4yq8EVD7NZqX
9) Clearance
Escrowed funds will be released to seller after buyers approval of
* transfer of shares to their account
* receipt of their dividends (if any happened before transfer)
Seller's address for this deal is 16CV4ktaWSp9TjEt2Wf4MMDhYbYi4TKXGc
-----BEGIN PGP SIGNATURE-----
Version: GnuPG v1.4.11 (MingW32)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=JzKP
-----END PGP SIGNATURE-----
Hash: SHA1
1) Purpose
This contract regulates the finalization of the ASICMINER auction in
https://bitcointalk.org/index.php?topic=142038.0
2) Buyers
PM.6 100 @ 0.45
ghostshirt 200 @ 0.45
Vezunchik 100 @ 0.45
LainZ 100 @ 0.45
asnonmous 5000 @ 0.44 (including 500 from board chair option)
3) Seller
Shares are sold by user zefir. They are currently held directly by
friedcat as a PGP-signed lock-in contract.
4) Escrow
Graet and John (johnthedong) will escrow the transactions. Buyers
decided whom to choose, resulting in the following transaction plan:
PM.6 45 BTC to 1EEFt1JqyTuTEsGHERJj58QcYb72BaPeTj (Graet)
ghostshirt 90 BTC to 15A8ztRxjnHud6unJi3dLpB9bLGdXVxAyg (Graet)
Vezunchik 45 BTC to 1hnvX9pA6eSZPfGEaLHR1RHM6RE82yUox (Graet)
LainZ 45 BTC to 18AfJDFimnxRCbK4JbzqdHm1SigCySYT3p (Graet)
asnonmous 2200 BTC to 1CuNd5n42cfqDz8SPVLSRsGHk2tLcHVMGh (John)
Payment shall be made from an address that the buyer fully controls,
i.e. is in possession of the private key, so the escrow in case of
disputes and cancellation can return the funds to sender.
5) Activation
This contract will be posted in the auction thread and changes its
status to active when both escrows and the seller digitally sign it,
either by PGP or Bitcoin address signature.
6) Acceptance
After activation (i.e. the time when all three signatures from point
5. were posted), the buyers accept this contract by sending their
respective payments to the escrow addresses given in 4. They are
given three days (72h + 12h time zone margin) to finalize the trans-
action in full. Failing so, their deal status changes to canceled.
7) Share Transfer
ASICMINER is going to have its private exchange that is scheduled to
go online before the first dividend payment is processed. As soon as
it launches, buyers need to open an account and provide all required
data to seller to initiate a transfer of shares. Since the details
of the new exchange are not yet known, no defined deadlines for the
transfer can be provided at this time. Seller is limited to do this
with best effort and will keep buyers and escrows informed about the
status.
On top of the transfer handled over the new exchange, seller will
attempt to reach agreement with friedcat to split his position
according to the sale and move them to bilateral contracts between
buyers and friedcat directly and get their shares assigned to them
before the exchange launches. Success solely depends on friedcat
and can not be guaranteed.
8) Dividends
Buyers are entitled for all ASICMINER dividends. Share transfer is
scheduled to finalize before the first dividend is paid. Any dividends
paid for any reason to seller shall be forwarded in full to the buyers
at their following addresses:
PM.6 1AXKZp4KU4tA4yPoFtHQPHoUi2DmWgHdEd
ghostshirt 1ZKrazKLvfxNCYqk4BbboxiPonB9U3Pwh
Vezunchik 1AkZFPx76RWEEpojMj5RvGDDesZxPazVdF
LainZ 1Bgu2w4vBTXDDkpWkjAeomVnRRYASnCaJV
asnonmous 12mwAvJywtQF5rJXHzdBQd4yq8EVD7NZqX
9) Clearance
Escrowed funds will be released to seller after buyers approval of
* transfer of shares to their account
* receipt of their dividends (if any happened before transfer)
Seller's address for this deal is 16CV4ktaWSp9TjEt2Wf4MMDhYbYi4TKXGc
-----BEGIN PGP SIGNATURE-----
Version: GnuPG v1.4.11 (MingW32)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=JzKP
-----END PGP SIGNATURE-----
Confirmed, thanks. I'll do the transfer tonight when I get back to a computer.
Re: ASICMINER: board seat (equivalent of 5000 shares) for sale
Are we -the buyers- supposed to sign the contract also?
Usually (and I stated it such in 6.) buyers 'sign' with their money, i.e. implicitly accept the contract by transferring the funds.
But it also does not hurt to explicitly do. Only thing from contractual side is, the contract becomes active (i.e. buyers can transfer their funds) as soon as seller and escrows signed - while buyers signatures are not relevant for that state change.
Are we waiting for confirmation/signature from the Escrows at the moment?
Re: ASICMINER: board seat (equivalent of 5000 shares) for sale
I believe everyone is moving towards using the bitcoin-qt system for signing, but I'm not sure. I'm signing with bitcoin-qt, let me know if that is insufficient. I don't have a PGP key yet, and this signature is easily associatable with the coins in the account it is coming from.
Contract signed from address: 12mwAvJywtQF5rJXHzdBQd4yq8EVD7NZqX
Signature:
(signed with bitcoin-qt 0.7.2-beta)
Contract signed from address: 12mwAvJywtQF5rJXHzdBQd4yq8EVD7NZqX
Signature:
Code:
HyhgIo5QfmPpuQw2iPAakBhp0sCP3BnnBjXiojs+rsaCcs4QGoo74xDUOthtn3wlKTmKDA7qYhZUR9Qhi3K/Glc=
(signed with bitcoin-qt 0.7.2-beta)
Verified.
Quote
Once John has signed, I'll initiate the transfer.
John basically did in post #177 by confirming he is controlling the updated escrow address and signing the contract.
I contacted John and Graet once again after the contract update for the new address and expect them to confirm soon.
It looks like a simple mistake, but the contract he PGP signed used his old address, and had that same address as my "send dividends to" address.
Re: ASICMINER: board seat (equivalent of 5000 shares) for sale
I thought it's consequent to use Bitcoin address signing for this contract
Yes, but you have to use Bitcoin itself to sign it. No one agreed on the signature algo, so everyone else is doing it wrong and they need to switch to use Bitcoin's. If you would have signed it with bitcoin-qt or bitcoind, this wouldn't have been a problem.
Thanks for clarification.
If that's the case (everyone doing his own thing), it is not useful yet, since people not working with bitcoind (like /me) can't reliably sign / verify.
I believe everyone is moving towards using the bitcoin-qt system for signing, but I'm not sure. I'm signing with bitcoin-qt, let me know if that is insufficient. I don't have a PGP key yet, and this signature is easily associatable with the coins in the account it is coming from.
Contract signed from address: 12mwAvJywtQF5rJXHzdBQd4yq8EVD7NZqX
Signature:
Code:
HyhgIo5QfmPpuQw2iPAakBhp0sCP3BnnBjXiojs+rsaCcs4QGoo74xDUOthtn3wlKTmKDA7qYhZUR9Qhi3K/Glc=
(signed with bitcoin-qt 0.7.2-beta)
Once John has signed, I'll initiate the transfer.
Re: ASICMINER: board seat (equivalent of 5000 shares) for sale
After this first payment and as long as BFL and Avalon do not penetrate the mining market significantly, they make 0.1BTC per share per month. Given that 40% of that income is invested in the next batch or 50TH mining HW, chances are not all too bad to get back 0.4BTC per share within half a year.
Right, and that assumption is the clincher. IF BFL and Avalon do manage to penetrate the market deeply, it drastically changes the result. I find it unlikely that ASICMiner could operate unmolested for more than a few months, and so have taken that into account. The other thing is that while I fully agree that income should be reinvested in future batches, that reinvestment prolongs the time-to-payoff.
But as you said, no point in preaching to me, as I've already evaluated my situation.
Re: ASICMINER: board seat (equivalent of 5000 shares) for sale
FYI, I agree with your evaluation but I'm uncertain about the timeline. Doing the math, buying ASIC's yourself gives you a better GH/$ ratio(3-4x at this price) but is not practical for my situation, and I think your 6mo timeline is a bit aggressive. Obviously I can hope, but, I've worked out conservative timelines that work for me and my long-horizon view, hence my bidding.
Thanks for running this auction though; I look forward to closing the transaction soon.
To answer someone else's question about board seats, they generally don't make much difference. In general, board members at a corporation have some say/input into company decisions, and a bit deeper insight into the corporation's day-to-day running, at the tradeoff of the responsibility & legal implications of being an insider trader. It is a good move over a very long timespan(generally, a multi-year or even multi-decade timeline), but ironically perhaps a less-good move in light of the GH/$ ratios mentioned above.
Thanks for running this auction though; I look forward to closing the transaction soon.
To answer someone else's question about board seats, they generally don't make much difference. In general, board members at a corporation have some say/input into company decisions, and a bit deeper insight into the corporation's day-to-day running, at the tradeoff of the responsibility & legal implications of being an insider trader. It is a good move over a very long timespan(generally, a multi-year or even multi-decade timeline), but ironically perhaps a less-good move in light of the GH/$ ratios mentioned above.