From a business or bank side when a developer asks for x dollars and you pass it then ask for more cash was my thought process.

I was reading Bitfury scraped 16 NM because they ran into problems. 

Its about 80% more to develop 16NM compared to 28 but doesn't include what a developer can import from a previous chip?? It depends on how far along HF got.

The cost overruns in 16 NM come from the test wafers?

That's only the imaginary chips IP cost. PCB design costs are way, way lower. If you released the chip specs under public domain on tapeout's day you would probably get a few independent community designs + the ones you paid for ready for when you have the chips in hand.

You can contact the Hashfast CRO if you are interested, they would have the details you are looking for.  There are supposedly 3 generations of IP, 1, 1.5, and 2.

The trustee motion was denied because the committee already put a CRO in charge at the company. He should have almost complete powers, a trustee would have been more expensive and probably less familiar with the hf/bitcoin mess.
The other motion got instead approved, and that was the one allowing a "substantive consolidation" between HF California and HF Delaware (so that creditors can now sell their vague next gen ip, for whatever is worth).

I lost money on this deal as did most of us, my question is did hashfast ever pay anyone anything?
looking forward to the answer.

Like suppliers? I think so?

The hearing couldn't have gone better:

Hearing Held. Motion denied for the reasons stated on the record; Mr. Siddiqui to upload an order. A status conference will be held on 10/24/14 at 11:00 a.m. A Status Conference Statement, preferably filed as a joint statment with counsel for the Unsecured Creditors' Committee, due by 10/17/14. (related document(s): 168Motion to Appoint Trustee filed by Office of the U.S. Trustee / SF) (lp ) (Entered: 09/10/2014)

Hearing Held. Motion granted; counsel for the Official Committee of Unsecured Creditors to upload an order. (related document(s): 148Motion to Consolidate filed by Official Committee Of Unsecured Creditors) (lp ) (Entered: 09/10/2014)

There will be an important hearing this Tuesday. The US trustee wants to appoint a trustee and the creditors committee filed an opposition because they already put a CRO in place. The US trustee says that the CRO isn't in charge at the company (in the opposition to the opposition to the motion), while he actually should.

HF did sell their Yoli Evo boards to this company above? And did not ship it to their customers?

http://hashfast.com/shop/yolievo/

I would caution anyone about getting their hopes up that's looking forward or counting on getting and substantial return from a bankruptcy filing. When the creditors or representatives of the banks are at the proceeding, they take the majority. And before them is anything that was secured debt. As a customer (no matter how much you paid), you usually have to wait until everything is liquidated (I'm talking like the pen holders on the desks), which is then divided to everyone else. Chances are high that you will get pennies on the dollar unless you are near the top of the list of creditors on the bankruptcy statement.

I got stiffed back in the dot com days when all sorts of stuff went belly up and I was owed tens of thousands. So, I would just caution on making any plans, your best bet is getting a lawyer and go to the proceeding.

If I rate him right I would guess it was a delightful one week excursion to Tijuana with blow and hookers.

certainly true

The creditors committee has to come up with a plan since the LB plan wasn't approved by them, so it won't include LB at all as they've said publicly they don't trust them or there ability to run a mine.  But they talk about the Eddie-Guido franchise plan which has to be just as un-trustable as the LB one.  Who is IceDrill and why would they do anything for the creditors?

We sent a reorganization plan to the debtors yesterday.  Since the committee has no effective control of the company and can only object to their actions that require review of the judge, we will need to negotiate with the debtors to actually implement a plan.  For that reason, it's not constructive for us to publish it publicly.

If the debtors do not cooperate the judge has committed to hearing our motion to have new management put in place August 20th.  Hopefully the debtors will be rational and we can get positive action taken before that date.

Completely useless until when they release the design of their board under public domain. Firmware included. And I wanted to see both the evo and the new half costs version.

Even after that, you would have to add PSU and cooling. $200. And you are being optimistic in your per board cost. $300 is. You could probably reach that price if you had the PCBs for in hand for free. So $300 + $168 + $200 for 650GH. Plus the yield, plus whatever could go wrong since that you will have to deal directly with suppliers. Good luck.

Very nice summary Minor.