To others: The time I logged is from straight working on computers.  It does not involve the time I spent driving around picking up materials, it doesn't cover gas, it doesn't cover wear on tools, it doesn't cover time spent on this project besides working directly with the computers, it doesn't cover internet costs, it doesn't cover insurance costs, and it doesn't cover property taxes, to name a few things it doesn't cover.  And that's just my things it doesn't cover.  The value from the contractors is straight time paid, it doesn't cover workman's comp, it doesn't cover the materials they donated, it doesn't cover gas, it doesn't cover their insurance, and it doesn't cover their fees, to name a few things it doesn't cover.

So here is the ultimatum: I will give you a total time logged.  I will give you the activities that that time was spent on.  I will give you a (non-comprehensive) list of materials that were donated or borrowed that otherwise would have had to have been bought.

Or I will sit down and basically audit myself and account for every screw, every plug, every wire, every second of my time, and bill the company for it all.  I will ask the contractors for bills.  These bills will be far greater than just time worked (which will also be on there, except at their actual working rates, far greater than the $30/hour or so I am giving them).  I will gladly post the proof of these bills from the contractors.  At that point there will be no going back, and the contractors will be paid their bills to the best ability of this company.  Their bills will be far greater than the $10,000 we could expect to make from the liquidation.  Investors will not see a single cent of it.

Perhaps some of you aren't grasping the magnitude of how much was given to this company to make it work.  I didn't collect dividends so this company could get off the ground.  I didn't charge for time spent so this company could get off the ground.  I called in a lot of favors from a lot of people to give me help for free so this company could get off the ground.  I am tired of people acting like that did not at all contribute to the company being profitable, and that it did not contribute to the dividends the investors got, and that it didn't contribute to the growth we were able to experience.

So here's the deal: say the word, and I will put up a motion concerning this.  I won't vote at all on this motion, it will be purely an investor vote.  Just keep in mind, if that motion goes towards asking for bills, there will be no going back, and there will be no money left for investors.

$15837.93 is the amount of money that was raised by the company from the IPO.

I have paid back 202.7945 BTC back into the company for a value of $3411.58 through reinvestment of dividends

I put 30 BTC of my own from my time solo mining into the company at the beginning (when BTC was at around $7.50, so about $225 from that)

I provided a building (with insurance) to house the machines which I valued at $200/month (far below what we would have actually paid to rent a space
(200*4 = $800)

I provided at least $500 of materials to build racks and a cooling system.

In addition to that, I logged 243 hours working directly on this project, at a rate of $35/hour.
(35*243 = $8505)

I also contracted the work of several others to help with electrical setup, rack setup, cooling setup, etc. as well as to help take care of the machines in the event that I was unable to attend to them.

I think that this is value I added to the company and value that I should be able to be remunerated for.  I do not think I am being unfair in any of the prices or rates I listed.  When all is said and done I have invested quite a bit of time and personal capital into this company that would have otherwise had to be paid for by the company, cutting into dividend payments and growth.  My investment has easily been worth the $15837.93 that investors contributed.

Update: Today is a good day, we've successfully gotten all seven rigs up and running!  Tomorrow we will be migrating from btcmine.com to other pools (mining simultaneously on more than one pool with each card.)  I will also be continuing work on a cooling system to allow for better overclocking.

Once again, thanks to everyone for your support and advice!  We rode out the bumps and have entered production mode!  Next on the agenda: dividends!

You can use the web client to make dividend payments.

The total amount paid is divided over the sold shares.

That means that shares in the issuers account get nothing(this is by system design).

All shares orders were cancelled during the last GLBSE update. I guess tawsix will put the SIN ones back up for sale soon.

bing: I think it's dividend_per_share = total_dividend_payout / ownedshares

this ask IS an error.  its impossible.  someone needs to contact Nefario to fix that asap.  i'm at work.

I'd like to add that I pledge to reinvest the first dividend payout that I receive into purchasing more SIN shares at the going rate on GLBSE rounded up to the nearest share.
I am likely to extend this pledge for future dividend payouts.

I say this simply because I would like to see long-term expansion via new investor funds, but believe that new investor funds will not happen without a dividend payout. I aim to make any dividend payout to myself as neutral for SIN as possible.

Did you put "bitcoin" as what the transaction was for? I put "other" as most of my transactions (no matter what they are) and have never had them ask any questions about it.

Yeah, I hope someone picks that up...

Investing in a whole business and having theoretical voting rights there etc. is not interesting anyways for me at least, if I'm just interested in a mini-mining contract (which in the end of the day the SIN stocks are). I don't even want to go through hassles on voting on motions or waiting 30 days for the next dividend. My few daily millibitcents for my .50 BTC share would be much cooler - and also the shares would be far more attractive to others and might shoot up in price very quickly.

A clever miner would even first hand out just a few % of shares of an existing rig, wait until they are sold out and under great demand and then slowly release the rest of the shares until the desired grade of distribution netting (now in the startup days) probably ENORMOUS profits!

Edit:
I'm even thinking of doing that myself, however my ~280MH/s machine is a bit too weak for that and operating a proper 24/7 rig is currently not in my focus (as it would need to be silent --> watercooled which drives prices up).

We're(BitcoinGlobal) working on that.

You just got ripped off.

Wouldn't he make much more actually building the mining rig than scamming?