The disclosure statement, in my professional opinion, is inadequate and omits key details. See below for my questions. I urge creditors' demand for actual complete and transparent answers on.
* Who is the partner manufacture is providing upwards of 180k rigs?
* What model of rigs and what are the specifications? Power usage, hashing rate, etc.
* What are the terms of profit sharing. Detailed breakdown of split in percentage of yield
* What are terms of handover of rigs. Does newco get a pick or is that purely vendors decision?
* What are the co-location / Hosting agreements exact terms? What is competitive or under market? (who knows! as those are private) give precise costs.
* why the markup in NY site over the other options?
Detailed breakdown of how they estimated over 2x increased revenue under newco vs celsius standalone.
* How many years will the 75% mandatory cut of revenue go back into reinvestment? 1 year, 5 year, indefinitely?
* Provide a detailed breakdown of approved or expected usage of the nearly $1 billion in reinvestment based on expected revenue figures. How will those funds be used if newco is receiving over half a billion in new assets from 3rd parties. Unacceptable to have zero accountability on that much money.
These are key questions that will directly impact shareholders and stakeholders' potential recovery. The disclosure statement didn't even attempt to cover, and merely gave amazing projections with zero actual details.
@SimonDixonTwitt@FahrenheitHldg@BankToTheFuture Liquidate and self-custody.
The biggest lesson of all the self-custody and people want to gamble it again on a new company without any real unique value proposition