Quote from: stompysteve on May 30, 2014, 03:03:13 PM

From email

Dear unit holders,

As the IPO is running towards an end, we would like to inform you about where we are and what is going to happen.

Current Status:
Currently, about 11,085 units are sold during IPO, which brings the total of outstanding units to 77,291. We increased hashrate from 7.55 GH to 15 GH/share on Monday, which brings the total hashrate of PetaMine to 1159 TH/s.

Why does it matter how many shares are sold in IPO? We now have 15GH/share, so what would be the benefit?
The more shares sold in IPO, the less CryptX has to pre-finance, we currently pre-financed 964 BTC. If and additional 10,000 shares are sold in IPO, the loan would be reduced to 530 BTC, with complete IPO sold out, this would mean, no loan has to be paid back.

What will happen after IPO?
Dividend payout will resume next Friday (June 6th), we propose to alter the dividend / reinvestment ratio to 50/50. So 50% of net mining revenue will be paid out as dividend. The remaining 50% will be used to repay the loan of 964 BTC CryptX has pre-financed to pay for new hardware, after that funds will be used to further expand PetaMine.

Team CryptX

CryptX, will dividends from the last two missing payouts be included in next week's dividends?

lascar

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