Ticker KINETICS - KINETICS CO
Date 24 Mar 15:30
UPDATE - All Shares To Be Issued Immediatly
In a turn of unfortunate events, the company has been forced to issue all 4.5 Billion shares immediately, the IPO will continue as planned and end on 07/27/2014.

The company PayPal account has had over $25,000 USD in reversals done last night. We will not be able to recover these funds in any way. 

Currently Bitcoin Kinetics Inc has over $30,000 in assets including: 3D printers, MicroControllers, ASIC Miners, Scrypt Miners, PCs, Office Equipment, Tools, Software, Gold, Silver, Bitcoin & almost 2000 Vinyls. 
We are in the process of purchasing property at this moment, so this reversal of our funds will cause problems.

The fact is, we are US Bitcoin Company, but we must accept USD in the United States as Legal Tender, so most of our customers don't even know what Bitcoin is yet. For this reason a good 50% of our cash was in USD on our PayPal account. This allows the business to pay for utilities, inventory, taxes & payroll to contractors that don't accept Bitcoin. We have to use paypal or a US bank in the united states to pay taxes, utilities & payroll to non bitcoin contractors. We cannot file for a corporation using Bitcoins alone, that is impossible in the United States. We dont sell Bitcoin at all in any way using PayPal for that is a dangerous way to transact. We sell digital services & educational information downloads that this person over purchased from a stolen credit card. It was not a reversed Bitcoin for PayPal transaction as we dont do that business, but PayPal is very non responsive.
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The reversal on PayPal included transactions from one individual who purchased Bitcoin, Educational Products & Other Services. In total $25,000 was reversed & stolen from the company PayPal account at last night around 4AM 3/24/2014 PST.

To make up for this loss of funds, we are issuing all public shares 4.5 Billion immediately. 
Hopefully this will stimulate enough investment to bring us back to a secured position.
The IPO will continue as planned and end on July 27th, 2014

If you have any questions about this event you can email us at [email protected]
If you would like to donate or help support us through this crisis, please call at (619) 721 - 3384

Thank You For Your Support.

Morgan Rockwell - CEO
Bitcoin Kinetics Inc
 
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Trading Volume

BTC
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30 day volume6.94
Market cap.9,221.05
LTC
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30 day volume0.04
Market cap.2,579.50
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Total in BTC
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30 day volume7.90
Market cap.9,312.53