Quote from: 29750f0e1c2fbb3bb on May 14, 2015, 05:05:29 AM

The recent payment was a current funds discharge to all verified shareholding addresses. It was requested by a major stakeholder and there were no objections.

The current state of affairs is as follows:
- The BTC mine is still running under the 10% guaranteed yield agreement. The funds stored in the BTC mining address are used to cover operating expenses. The remainder is the realized yield, which will eventually make its way into the payout. The cooling units provided with the HF units are continually failing. A request for RMA with CoolIT failed, quoting a "special agreement" with HashFast. We requested a copy of that agreement, but it was not provided and we were referred to HashFast. It must be assumed that CoolIT is not interested in providing a warranty service on their product. The mining operator is working on salvaging third party parts to create low cost solutions to revive some of the HashFast units, which according to the operator is a slow but successful process.
- The Cryptomex database was provided for inspection. The payouts to cryptomex accounts will have to be verified manually using the tracing information contained in the blockchain. Once that is done, we can determine which accounts got paid and we can also associate old accounts with new cryptomex accounts.
- Willem and DeaDTerra filed claims which are currently looked at. They were asked to provide information about the underlying value transaction to establish a proper trail.
- There were no further attempts to establish any other company activity. This is why one of the stakeholder inquired about liquidation and bankruptcy filings.
- Willem and the IceDrill sysadmin have filed expenses last year to account for all major expense items paid out of IceDrill accounts. The expense filings are consistent with normal business expenses.
- I, myself, have limited time left to inspect the materials of the company and nobody is getting paid for this anyway. The problem is some of the items contain sensitive information, so a public release cannot be provided. If we hire a professional to look into this issue, it's likely gonna consume all remaining assets. So we're stuck in a slow processing.

I'm okay with a slow moving process, so long as we keep the mine alive and continue paying monthly dividends. I know you don't get paid for this, however, whatever work it is that's actually being done is appreciated by some of us. Better communication would be nice though Wink

Thank you for the funds discharge, and thank you to the major stakeholder for making the request. Good luck with the cooling solutions!

TheSwammi

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