Realtime


Trading has been permanently frozen for the site wind down.


Trading has been frozen on this asset by the BTC-TC admins.

BTCGARDEN  operated by btcgarden since Aug, 8 2013  

Outstanding Last 24h 24h Avg 24h 24h Vol 7d 7d Avg 7d 30d 30d Avg 30d Tot Vol Mkt Cap Score
0 2000000@0.01604 -- -- -- -- -- -- -- -- -- -- 70k 0 0    (0/0)



Outstanding Last 24h 24h Avg 24h 24h Vol 7d 7d Avg 7d 30d 30d Avg 30d Tot Vol Mkt Cap Score
0 2000000@0.01604 -- -- -- -- -- -- -- -- -- -- 70k 0 0    (0/0)

CALL Options Available For Purchase
(an option to purchase shares)
Option ID Expiration Qty Strike Premium/ea Cost/ea
None available...

PUT Options Available For Purchase
(an option to sell shares)
Option ID Expiration Qty Strike Premium/ea Proceeds/ea
None available...


Trade History
Date Type Quantity Price Total
2013-08-12 19:36:31 Market Buy 155 ฿ 0.01604 ฿ 2.4862
2013-08-12 19:36:31 Market Buy 1 ฿ 0.01604 ฿ 0.01604
2013-08-12 19:36:31 Market Buy 1 ฿ 0.01604 ฿ 0.01604
2013-08-12 19:36:31 Market Buy 100 ฿ 0.01604 ฿ 1.604
2013-08-12 19:36:31 Market Buy 2484 ฿ 0.01604 ฿ 39.84336
2013-08-12 19:36:31 Market Buy 2 ฿ 0.01604 ฿ 0.03208
2013-08-12 19:36:31 Market Buy 20 ฿ 0.01604 ฿ 0.3208
2013-08-12 19:36:31 Market Buy 60 ฿ 0.01604 ฿ 0.9624
2013-08-12 19:36:31 Market Buy 1 ฿ 0.01604 ฿ 0.01604
2013-08-12 19:36:31 Market Buy 62 ฿ 0.01604 ฿ 0.99448
2013-08-12 19:36:31 Market Buy 315 ฿ 0.01604 ฿ 5.0526
2013-08-12 19:36:29 Market Buy 98 ฿ 0.01604 ฿ 1.57192
2013-08-12 19:36:29 Market Buy 20 ฿ 0.01604 ฿ 0.3208
2013-08-12 19:36:29 Market Buy 150 ฿ 0.01604 ฿ 2.406
2013-08-12 19:36:29 Market Buy 150 ฿ 0.01604 ฿ 2.406
2013-08-12 19:36:29 Market Buy 32 ฿ 0.01604 ฿ 0.51328
2013-08-12 19:36:29 Market Buy 80 ฿ 0.01604 ฿ 1.2832
2013-08-12 19:36:29 Market Buy 1 ฿ 0.01604 ฿ 0.01604
2013-08-12 19:36:28 Market Buy 800 ฿ 0.01604 ฿ 12.832
2013-08-12 19:36:28 Market Buy 100 ฿ 0.01604 ฿ 1.604


Dividend History
Date Total BTC Shares BTC/Share Status



TRADING HALTED ON BTCGARDEN Posted: 7 years ago
TRADING HAS BEEN HALTED ON BTCGARDEN BY BTC-TC ADMINS.

IMPORTANT NOTICE from BTCGARDEN Posted: 7 years ago

 

Due to some unexpected legal risks we met last week, we have to, cancel this IPO and buyback/repurchase entire two million shares of BTCGARDEN we issued at btct.co.

We will buy back all shares with the whole price of 32064btc. I.e,we will pay for commissions to let all shareholders get back their Bitcoin with the price of 0.016btc/share.

I would like to say thank you & sorry to all of our investors/supporters/ potential investors in advance before I explain the whole affair. Thank you for all of your trust and support, sorry for the final decision we have made.

The whole story:

In August 05th , 2013, a chinese BTCer posted threads/mailed us several times at btcman.com with extreme bad tone, threatening that he need to inspect and review our company to see whether we are real and trustworthy, otherwise he would do something bad to us.  Being the nature of the business, such request can not be satisfied.  So we agreed that we could buy back his shares on btct.co.However,he asked for a higher price and request us to transfer the Bitcoin to him first.  We then searched for his email address and his account on net, what shocked us was that he has a long history of cyber-fraud activities in china, he did not even change his ID and email in the past several years and due to the terrible chinese laws, he has not been arrested.

With those information, we realize that we were being extorted and obviously refused to transfer first.We banned his account at btcman.com after he continued to attack us there. One day later, he opened a new thread at bitcointalk`s chinese board and post a reply at our official thread in chinese as you can find, saying full of lies and persuading other people to join his group to against us. Although he cannot even speak english, an english spoken shareholder still talked with him through IM software&google translator and helped him to find out some personal info of one of our staff of btcman.com. (not btcgarden).  The racketeer then reported our staff/sites/this BTC-IPO to police with several completely falsified evidences such as:
* He accused us of asking people in China to first buy bitcoin from btcsea.com and then use those bitcoins to purchase shares from btct.co.  This way, it would appear that we are collecting RMB almost directly from the end purchaser.  Fact:  we never did such thing, btcsea's traffic wasn't much different in those days of IPO as any other day before that.
* He accused us of ponzi scheme in our IPO, and claimed that he has lost of a lot of money because of that.  Fact: when he first started the thread on btcman.com, stock price was slight higher than IPO price.  After that, stock price stayed close to IPO price all those days, so how could he possibly have suffered massive lose because of this.  And he forgot to mention we agreed to purchase back the share at IPO price as long as he would transfer first so he could avoid the "MASSIVE" lose.(BTW:he has only 1 share of BTCGARDEN at the moment)

After discussing inside, we decide to stay away from the IPO at this point as the fairness of laws in this area are full of big uncertainties. We hardly undertake such an undefined risk especially with many scamers out there seemingly targeting the bitcoin companies in China .

(Latest update: currently, a lot of teams in china are planning IPO at BTC community ,some of them do not even have an creative & original prospectus ,which in our side,make this even more dangerous.)

We therefore have to give up this IPO and repurchase all issued shares. Hope all of you can understand this.


Procedures:

We have already confirmed the whole process with Burnside (manager of btct.co),

1 We will lock the trading of BTCGARDEN at btct immediately.
2 We will then send the whole 32064BTC and submit the repurchase request to Burnside from backstage, he will then run the proper script to execute this request ASAP.
3 All current shareholders will get your BTC back into your account immediately,at which point you can withdraw it freely.

All of above will be finished in 24-48 hours from the time you see this notice.

Future plan:

1 .We will not issue any other asset until we can fully build up our new company oversea(hopefully soon), or laws in China become clear about bitcoin (not hopefully, imo, many laws are intentionally vague so they can interpret them in a way that best suit their interest)

2. Our ASIC project will be switched to a "self-miner+seller"mode,i.e. we will only use our own money and mining-income to invest our enterprise and sell chips/mining-hardwares with only BTC and B2B accepted.  Needless to say, this will cause some funding shortage and we have no choice but to change some of our previous plan.

3. Btcman.com will be changed to an international site with english info included.(BTW:all english editors/journalists who are interested in this please mail us.  We have almost finished the new layout of btcman.com, as some of our members might already knew.)

4. Any questions/suggestions from our previous investors are very welcomed, please mail me through your email of btct account. (FYI: messages/mails with regards to direct-investment to us is discussible but please keep in mind that this mode will be very hard to most of you because you can not sell it as easy as stocks)

5. We have backed up the list of our investors, we will think about what we can do for all of you later on. (a discount for our hardwares/other products might be possible)

Again, thanks to all our supportors.

Finally, special thanks to a big name at Bitcoin community, whom might do not want his id be mentioned here despite he has already been well known as a nice & successful BTCer.

 


TRADING HALTED ON BTCGARDEN Posted: 7 years ago
TRADING HAS BEEN HALTED ON BTCGARDEN BY THE ISSUER.

update of btcgarden Posted: 7 years ago
 Update :

We have received our sample-PCB and it is being tested in every aspect. Everything s running well so far. ( Mass production of PCBs will start later and can be finished within one week in Shenzhen)
We also dealed with an acquaintances packaging factory to shorten the Package period from 10days to 3days. I.E. we will get our chips in hand only 3-4 days later after out of  Fab.
We will hold a meeting next weekend in Beijing to discuz our future plans incl.: 2nd gen chips, deployment plans for 1st gen chips, application of analog circuit  in our project , a lot of experts both on R and D have been invited. 

THE IPO OF BTCGARDEN HAS ALREADY BEGUN Posted: 7 years ago

We have already put up 2,000,000 shares at the price 0.016BTC per share , users of BTCT can now trade them freely.

 


TRADING HALTED ON BTCGARDEN Posted: 7 years ago
TRADING HAS BEEN HALTED ON BTCGARDEN BY THE ISSUER.

No motions yet
Contract & Prospectus
Locked! This asset has been locked by the Asset Issuer.
Locked! This asset has been locked by the BTC-TC admins.
Ticker STOCK: BTCGARDEN
Moderator Score 0  (0/0)
Moderator Votes YES 0 / 0 NO    (0 ABSTAINING -- Users with 10 or more shares of LTC-GLOBAL are allowed to vote.)
Shares Outstanding 0 / 4000000 Issued
Issuer btcgarden <admin@btcgarden.com>
Website http://www.btcgarden.com
Forum https://bitcointalk.org/index.php?topic=264696.0
Issuer Detail

  
[Business Name]  BTCGARDEN
[Business Location (city/state/region/country)]   BEIJING/SHENZHEN/XIAN/CHINA

[Email Address]  admin@btcgarden.com

[About your Company]  BTCSEA CO.,LTD, which was registered at HongKong in April,2013.Offices located in Shenzhen,Shanghai,Beijing,Xi`an,for mining-devices sales/ self-mining managements/websites maintenance.

[Company Website URL]   www.btcman.com; www.btcgarden.com; www.btcsea.com
[Linked-In Profile URL]   

https://bitcointalk.org/index.php?topic=264696.0

https://bitcointalk.org/index.php?topic=213172.0
http://bbs.btcman.com/forum.php?mod=viewthread&tid=3774&extra=page%3D1

http://www.btcgarden.com

 

Overview:
BTCGARDEN-Stock was created for a project of ASIC bitcoin mining that is ongoing by our group, named btc-garden (www.btcgarden.com).  At the moment, we are at the stage of TAPE OUT.(LAYOUT finished on May)

We have started our project since Feb.2013.Also,according to our timetable, we will have around 200TH hashrate online on this Oct as our best situation.

 

 

Stockholder Agreement

Initial Offering:

4,000,000 shares of BTCGARDEN,which occupies 40% of BTCSEA CO.,Ltd`s market value, will be made available to the public at btct.co. First 2,000,000 shares will be put up in value beginning at 0.016 BTC/share ,the rest of 2,000,000 shares will be issued with higher price as soon as the first 2,000,000 shares have been sold out.I.e.:

 

2,000,000 shares @ 0.016 BTC

2,000,000 shares @ higher than 0.016 BTC

 

The other 6,000,000 shares are held by investors of BTCSEA CO.,Ltd ,which is not available and limited to open in next 2 years. Pass Through stocks based on these shares are prohibited in next 2 years either.Public shareholders have no such a restriction.

Each share has the same dividends and there will be no more additional shares to be brought in unless a proclamation in advance, which, mostly likely,caused by a big movement/progress/project(examples:new generation of 40nm chips / full custom design systems / new large-scale hashrate deployment ). To protect the interests of shareholders,it will be strictly controlled by terms of share dilution.

 

Shares
Initially,each 1 share of BTCGARDEN represents to 1/10,000,000th of the dividends of the whole 10,000,000 shares.

All of the mining and sales profits will be paid out to the shareholders of BTCGARDEN weekly through btct.co. As its earliest,it will be start from the middle of September,2013, while our first batch of chips(200-300T) arrive and start being deployed.To save the most precious time, we have already paid for this first big-amount batch ,all shareholders can therefore expect a quicker & higher return than normal.

Each share in public has no voting rights.

 

Guarantees & profits

With the whole net hashrate 200TH(JULY 2013) at the moment, 1000TH is a reasonable estimate at the end of 2013, we should then concentrate on deploying our devices for self-mining till 350TH since our goal is 35% occupancy of the whole net. We have already taken a big risk to tapeout our first batch of 200TH directly(without sample chips & prototype) since we have enough confidence on our Layout ability.  Also,we will order the second batch immediately once we receive/test pass our first batch,which equal to at least 300TH more. Therefore,to compare with those potential competitors, we could have a very big advantage on production capacity in this year.We will then get a very huge return once achieving such an ambition.All shareholders will then be the main beneficiaries.


Reserved Rights


Issuer BTCSEA CO.,Ltd reserves the rights,including but not limited to the following:

1. To be in charge of the reinvestment of IPO funds.Pricing power of BTCGARDEN shares.

2. To compare with our huge expected income, the maintenance/company costs might be a small percentage in normal ,however,any extra costs due to any kinds of accidents are still possible.

3. The power to make the decision on issue date& quantity & value of additional shares.I.e. the power of share dilution.

share dilution

Additional share offering will rarely occur unless we cannot get enough funds from our income. For instant,mass production for 40nm chips can be very expensive,there might be an additional program to collect the money in the fastest way,with a priority for the existing original shareholders to buy them in first.

Necessary conditions for adding extre shares will be very strict. A share dilution will not be possible & executed unless all of the following conditions have been fulfilled:

1.Cumulative Dividend/share reach to 0.032BTC,i.e. twice as much as the original price per share.

2.Big events/progresses in our future which lead to a big investment.

3.Any dilution will not be allowed before Aug.1st,2014.

Besides conditions above ,we promise that :BTCSEA CO.,Ltd will never add more than 1,000,000 shares per year and the existing original shareholders will be given a priority to buy them in.

NOTE: Such a possibility will never equal to a necessary action, additional shares will not be accepted  unless we have no other choices.

Big return with risks

To compare with other mining-projects,lets say we ocuppy 25% of the whole net as a conservatively estimate,which equal to around 900+BTC/day(plus transaction fees),shareholder will then be given around 0.0001/share/day (as there must be some income of hardwares sales and cost of operation ),a breakeven can therefore be supposed to come true within 6 months from the day we have a 25% portion. Any growth of occupation or sales can acclerate this process visibly.

Again,we are going to make an attempt to get 35% of the whole net in long term, it will be so hard but we will never stop trying for that.

However, since our chips are still in the stage of TAPEOUT and haven`t been tested pass ,risks are still there.

Features

We have an advantage on the speed of deployment,an introduction of this will be given on http://www.btcgarden.com/deployment.jsp later.

We will keep Taping out & deploying till the percentage of 35% of the whole network.

We seem ASIC mining as a long time story ,R & D will never stop as long as we are still in business.

In stead of the cheapest TAPEOUT method of MPW, we preferd Full Mask with our 1st-gen chips,which is the fastest and most efficient method for mass production. It has already started. We will have 200TH+ chips in hand soon.

Supervision,Communication,Q&A:

In general, channels of communication incl.: the Offcial thread at bitcointalk.org, the official email of btcgarden.com.

Also,an exclusive board(FORUM OF BTCGARDEN.COM, link:http://www.btcman.com/btcgarden) for our shareholders has completed. It is in english&chinese,shareholders might be given a password for this forum.

Besides routine report-videos we will update at http://www.btcgarden.com/videos.jsp ,we will invite several shareholders to be supervisers of BTCGARDEN. These guys could be voted to elect from community.

Warnings:

including but not limited to the following

1. There are still several risky factors lead to a failure of this project like : the failure of our chips;the failure of first batch`s Tapeout ;the illness or other severe health or life problems of issuers; natural damages of our mining-rooms...etc.

2. Because of several uncertain factors ,the speed of deployments of our first 200TH self-mining rooms is somehow unable to be determined exactly .(1-2 months for the whole 200TH as the fastest)

3. Besides the problem of inadequate productive capacity of SMIC ,any delay due to any other unforeseen circumstances is still possible.

Failure:

It will be regarded as failure IPO if less than 500,000 shares have been sold out finally(before Jan 1st,2014), BTCSEA CO.,Ltd will then return BTC to all investors in 100% after we confirm this failure.

Executive Summary

* Hashing 7*24 with an overall 35% percentage of the whole network in long term.

* To occupy the market of user-hardwares and keep R & D the toppest products for Crypto currency-minning.

 

 Q & A

Q:Do you guys have any relationship with ASICMINER or AVALON?

A: No, but we do have a similar background. We also had some contacts with them through either IM tools or in person, although some of their thoughts / behaviours are hardly accepted by us.

Q: how to guarantee the transparency ? I know that a 100% provable openness is impossible in BTC world,but what can you offer as your best?

A: A routine video will be made & uploaded every day to show out how much we have digged out. It will be better than pure pictures or photos which can easily be photoshoped. We may adopt a lot of methods like this to reduce the probability we do anything dirty.

Q: Is there a list to show out all the solutions of those possible accidents? For instance, chips broken within first year; unexpected huge hashrate influent our income so much;equipments in the machinery rooms get stolen; Website get hacked;how long time is needed for deploying the first 100T;how to define the”first year”, if there are some offline-days in the first year, is any kind of compensation/refund offered…etc.

A: Some of the risky factors are inevitable, it is the nature of this business.

 

Q:Companies like KnCMiner claim 28nm ASIC.  I recall another person (i cannot recall the name) mentioning they were in the works for creating 28nm asics, will it crush yours?

 

A: In the present case (hundreds T size) , 28nm is totally unrealistic, it sounds like: pay millions more to save one dollar for electricity charges. With a rough calculation, 28nm would probably get a real advantage after hash rate achieve 50k+T

The thought that 28nm & 45nm is "better" than 130nm is purely amateur, which nm number to choose depends on many factors, also, good optimizations in both FPGA and ASIC increase the function of chips so much,    which means that, even for 130nm/110nm, there are still  several aspects exist to improve.  

We have no idea about what is the real plan of those 28nm`s. I am not saying that theirs are fake, but I see no reason to develop 28nm at the moment, which is, extreme expensive/sounds pretty cool/highest risk and lowest return.


Q:What is your main purpose for this IPO?

   

A: 1 we need money for our second batch of chips ,which equal to 300T more hashrate,since we need to order the wafers in very advance,it will be too late to pay for it if we use the bitcoins we can hashout on Sep.

2 As the nature of bitcoin world, we would like to decentralise and share our incomes with community.

3 BTC-based stocks are beneficial & helpful & useful for bitcoin`s promotion in our opinion, also, as a necessary part of our company, we hope to issue this stock as a trial implementation of capital operation.


   
Q: any info of your second generation chips?


A: Most likely it will be 55/40nm chips and, LAYOUT & TAPEOUT within this year.(maybe tapeout together with our 1st-gene chips from then on)

 

 
Q: The current Btc-stock-platforms are rudimentary and immature, unforeseen events might be too dangerous to potential investors.


A:  Nothing can be absolutely safe .  As a matter of fact, BTC and all of its supporting facilities are rudimentary ,imperfect, and full of variables too. However, It is the duty for all of early investors to undertake these risks . Please deliberate this problem.

  
Q :Do your team has enough confidence on Btc in long term?


A: Yes, although there are still several really big problems exist on Cryptography currency, they are still solvable and worth paying for .

Q : Have you considered "board seats"? Benefits to larger share holders?

A : There is no discount for larger holders.

Q : Which stock on earth is to be issued?BTCSEA Co.Ltd's stock or BTCGARDEN's stock?

According to the rules of stock market,if it's BTCSEA Co.Ltd's stock,then each share should be given 1/10000000 of the BTCSEA Co.Ltd's total
profits(including but not limited to BTCGARDEN's profits,e.g.BTCSEA trading platform as I know),right?In this case,I would prefer to change the name of the stock to BTCSEA.

If it's BTCGARDEN's stock,then each share should be given 1/4000000 of the BTCGARDEN Project's

total profits.

A:BTCGARDEN is to be issued.  thank you for ur advice and sry for the possible misunderstanding. BTCSEA CO.,Ltd is the name of our company for this project(BTCGARDEN)and BTCSEA.COM is our exchange platform for RMB(chinese currency), the platform has no relation with this project although we used the same name when we created the platform.

Q : If sharp fluctuations in exchange rates occur,will you reprice the stock?  You declare that "Any dilution will not be allowed before Aug.1st,2014.".Is it a bottom line that can not be changed?

A : We need reserve.We need to hold an amount of funds in order to meet probable demands or possible risks.

Q : May I go to your company for a field investigation?

A : We are not but will be available later, furthermore, we are going to invite some voted supervisors to come to our places.

 

 

 

 
 

Business Description

Purpose of this ipo

A: we need money for our second batch of chips ,which equal to 300T more hashrate,since we need to order the wafers in very advance,it will be too late to pay for it if we use the bitcoins we can mine out on Sep.

B: As the nature of bitcoin world, we would like to decentralise and share our incomes with community.

C: BTC-based stocks are beneficial & helpful & useful for bitcoin`s promotion in our opinion, also, as a necessary part of our company, we hope to issue this stock as a trial implementation of capital operation.

D: All of our shareholders will be our promoters, helping us to grow even faster.

 

Current situation

Hashrate of our first batch will be around 200-300T(depend on whether & in what extent we over clock our chips).By far,we have prepared everything well,which means that we can start hashing immediately after we take the chips.The proportion of distribution of our chips on mining-hardware and self-mining-room depends on several factors like : how many orders we can have, the practice efficiency of our demo-hashing-room, the ROR of each of them..etc... it is also worth mentioning that we will start both of  projects at the same time.

To compare to other teams,we at the moment have an advantage of deploying mining-rooms rather than sales&marketing. We will deploy our rooms in 3 cities (Beijing,Xi An,ShenZhen)  in the meantime. Relatively, we are considering to accept outsourcing in terms of the sales & marketing & promotions of our user-mining-hardwares.

Definition of the Market

We mainly focus on Bitcoin-mining and relating-hardwares sales.

Products and Services

Tech Exhibition
a)   Project Milestone
i.   March 15th: We also signed the confidential contract with the IC manufacture and got the library for synthesis and layout.
ii.   April 10th: Our RTL design, optimization and simulation were finished. We have some data to predict the specification of actual chips.

b)   ASIC brief introduction
SMIC 0.13um;
Core Voltage: 1.2V;
I/O: Voltage: 3.3V;
Core Frequencey: 400MH/s;( @vdd 1.25V);
Number of Pads; 64;
Package lqfp64;

For more details please visit: https://bitcointalk.org/index.php?topic=213172.0

                               http://bbs.btcman.com/forum.php?mod=viewthread&tid=3774&extra=page%3D1

 

User-mining-hardwares

1. Price for our  “Garden Miner" will be 0.45BTC/GH, the prices of all models can therefore be calculated.  This price is based on shippment Date: the end of Aug/start of Sep, any delay will make the price even lower.
2. Models of "Garden miner" include : 24GH,48GH,96GH,192GH,  power consumption is approximate 5W/GH, i.e., the biggest 192GH `s P-consumption will be around 1KW.
3. Hope the "Plug and play" functionality will be added in the first generation("Simple-operation "is always our persuit,but we cant 100% sure we can do so in the first gene)

Deployment:

An introduction will be updated soon.

Full Mask at SMIC:

In stead of the cheapest TAPEOUT method of MPW, we prefer Full Mask with our 1st-gen chips,which is the fastest and most efficient method for mass production.

More details as Foundry Service Request forms can be found at official thread.

 

 

 

Organization and Management

About Us

BTCSEA Co.,Ltd (WWW.BTCMAN.COM, portals & information site in Chinese,with 25k registered members by far) is a full time bitcoin-related company from china; we currently have a decent PV of our forum & the main site.
In terms of the project of BTCGARDEN, all of our core members were graduated from CAS (Chinese Academy of Sciences), after graduation, some of them stayed there to do research works till now, while others make a living at Intel or Nvidia, I.e. we have both R&D Personnels from institute and practical engineers from mature industrial system. From a technical perspective, the difficulty of this project is really easier than many of our previous ASIC projects.


List of Us
ID:W.J, team leader, 8 years experience in system design.
ID:D.M , 3 years Intel experience in VLSI design( front-end and back-end ),5 years
Experience in system design and software design. In charge of ASIC design and software design.
ID: Xrange.G, 8 years Spreadtrum experience in VLSI design (front-end). In charge of RTL design, RTL verification.
ID: Kevin.S, 12 years HuaWei experience in VLSI design (front-end and back-end). In charge of FPGA verification, synthesis.
ID: Y.S, 4 years NIVIDA experience in VLSI design (back-end). In charge of physical design.

Marketing Strategy

Steps of our goal:

  a) we will DIY-deploy our first batch of 200T at Shenzhen/beijing/Xian/Suzhou at the same time once the chips finished.
  b) An extra 300TH will be in hand after we finish deploying the first 200TH(which might spend us 1-2months) because we will order new chips just after the moment the first batch of chips pass test,the new 300TH will be a very powerful preparation for our future. (we can save 50 days at least by order it in advance.)
  c) we will then keep DIY-deploying our chips,and maybe outsource the sale of our user-mining-hardwares.
  d) The 2nd-gene chips will be finished Layout and start TAPEOUT within this year (maybe tapeout together with our 1st-gene chips from then on)

We plan to finish deploying 200T+ before the end of Nov,2013.We will then start our next generation chip`s research & keep adding new hashrates as much as we can (up to 35% of the whole network)

Financial Management

BTCSEA CO.,Ltd will be in charge of all IPO funds. Advices and suggestions from shareholders are always welcome, but we reserve the right to make the final decision.  We will keep updating our website to make our operation as open and transparent as possible. Any big reinvestment to add new hashrate or to develop new generation products will be announced well in advance.

Basicly our Financial Management will be

* We use the first batch of 3 millions dollars IPO funds for :
     Mass production of 1st gen chips to a big amount (exact no. might depends but 500TH as minimum beside the 200TH we have already paid),
     deploying all of them.
     the research and Tapeout (samples with fulll mask) 2nd gen chips (40nm most likely).

This process might last several months.

* the Mass production of our 2nd gen chips might be a possible reason to launch our 2nd batch of shares.
* All of cost expense (incl.electricity ,rent,salary..etc) will be deducted from our income, the rest of which will be fully paid out as share dividends.


ʡ = Recent Notification or Pending Motion, ʬ = Recent Contract or Prospectus Change