Review of GLBSE ticker symbol: FPGA.contract

It has now been nearly five weeks since we last looked at FPGA.contract with the asking price being 0.3589 at our last look and now no shares with an asking price but the bid price is currently 0.355.    If you ask me the stock is still well overpriced but still it seems a good buy.  The following is taken from a post by JL421 on bitcointalk.org link to original post


Started - 10/20/2011

Shares Issued - 5,500 IPO - 500 Subsequent Offerings

Owner/Operator - fizzisist - Member Since 06/20/2011

Owner's Real Identity - Unknown? Someone please inform me if otherwise...

Contract Summary - FPGA.contract is a mining company utilizing only FPGA technology. All revenue will be distributed as dividends. Weekly dividends. Growth will only be accomplished through issuing more share, which will be shareholder approved. Each share entitles a shareholder to one vote. Motions can be raised by 25% of shareholders, and will pass with a 2/3rd vote. In the event of liquidation, all revenue will be paid to shareholders. Operator reserved two (2) irrevocable rights - To raise a motion at any time - To end operation and liquidate assets at any time.

30 Day Trading Average (Recorded 02/27/2012) - 0.3652 BTC Per Share

30 Day Volume (Recorded 02/27/2012) - 1,471 Shares - 537.27 BTC

Current Capacity - ~ 2,800 MHash/s

Technology Used - FPGA - x6500 FPGA Miners

Company Activity Level - Owner is reasonably active, and responds to inquiries within 24 hours in most cases.

Company Growth Plan - Growth will only occur through the approval of motions to issue additional shares.

Does the company charge a maintenance fee - No, company owner(s) profit through dividends to shares they own.

How are Utilities Paid For - Utilities are completely paid for from the dividends of 500 shares held by the company.

Dividend Type - Weekly

Dividend History - (ROI Based on 30 Day Trading Price - Without Reinvestment)

10/23/2011 - 0.00218351 BTC Per Share (0.60% ROI)
10/31/2011 - 0.0005419 BTC Per Share (0.15% ROI)
11/07/2011 - 0.00054246 BTC Per Share (0.15% ROI)
11/13/2011 - 0.00070685 BTC Per Share (0.19% ROI)
11/20/2011 - 0.00086597 BTC Per Share (0.24% ROI)
11/28/2011 - 0.00109451 BTC Per Share (0.30% ROI)
12/05/2011 - 0.0007379 BTC Per Share (0.20% ROI)
12/12/2011 - 0.0018791 BTC Per Share (0.52% ROI)
12/20/2011 - 0.00186695 BTC Per Share (0.51% ROI)
12/27/2011 - 0.0016423 BTC Per Share (0.45% ROI)
01/02/2012 - 0.00206794 BTC Per Share (0.57% ROI)
01/08/2012 - 0.00170361 BTC Per Share (0.47% ROI)
01/16/2012 - 0.00226625 BTC Per Share (0.62% ROI)
01/22/2012 - 0.00210994 BTC Per Share (0.58% ROI)
01/28/2012 - 0.00234061 BTC Per Share (0.64% ROI)
02/05/2012 - 0.00260374 BTC Per Share (0.71% ROI)
02/12/2012 - 0.00228876 BTC Per Share (0.63% ROI)
02/20/2012 - 0.00213861 BTC Per Share (0.59% ROI)
02/27/2012 - 0.00214317 BTC Per Share (0.59% ROI)

Total Dividends Paid - 0.03172408 BTC Per Share (8.69% ROI over 19 Weeks)
Yearly Performance Estimate - 23.78% ROI - Linearly Calculated

Conclusion - 

Positive - 

This company has extremely reliable dividends. Dividends are also, on average, increasing; which is a positive sign given that the profitability of mining has risen during the life of this company.

The owner of this company has good plans in place to ensure the company continues to perform.

The company has very low operating costs, with all utility and maintenance paid for by the dividend of 500 shares held by the company. This equates to 1/12th of income going to operating costs.

Worrying - 

While dividends have grown, the yearly estimated ROI is somewhat lower compared to other companies, but not by a significant margin.


Extremely Worrying - 

Nothing to speak of.


Link to FPGA.contract GLBSE stats