Monday, 27 February 2012

IPO update and expansion


I may issue another 900 shares (1900 in total) and drop the share price back to 0.3BTC.  This would value RSM at 585BTC and raise 570BTC as I will be keeping 50 shares for setting the company up, running the company and paying the first months electricity bill .  570BTC at the current exchange rate would raise around £1750 thus enabling us to purchase three 'BFL' singles 832MH/s@80W (at £450 each + £100 import duty) and buy RSM it's own dedicated low power PC to run the 'BFL' singles. This would take the company's mining power to 2.5GH/s

The very first plan to get two Radeon HD 7970's would have been giving shareholders 1.25MH/s per share or 4.16&MH/s per BTC invested.  I am now offering 1.32MH/s per share and 4.27MH/s per BTC invested BUT also at a massively reduced electricity costs.  The old plan with the two Radeon 7970's would have produced 1.25GH/s for nearly £60 a month of electricity costs.  The new plan with three 'BFL' singles will produce 2.5GH/s at £35 a months electricity cost's.  So not only has the the MH/s per share and MH/s per BTC increased the profit in that increase is greatly raised too due to increased MH/s and reduced KW/h.

The CEO salary of 1% of profits or 1BTC a month which ever is greater is going to be used by RSM to buy the company's own shares back for the company.

So I know we have had a lot of changes but they have all been for the better, plus I didn't know if the 'BFL' singles were real.  If know one massively moans I'll change to this plan.  If no one want's any more major share purchases then I'll buy them all over the coming months (already bought nearly 200).  The first BFL single was ordered last Friday (24/02/12).  It will take six - eight weeks delivery.