Microelectronics Technology Co. (fka MELY)

[Lymans]

Why Alydian went bankrupt... and Mely will prevail
Mely doesn't MFG there own custom Miners Mely doesn't sell bitcoins for 7.00 Mely Servers and ASIC chips and are the latest technology for power consumption Alydians were not.

here are some cuts from a couple of articles on what happened to them BTW this is LAST YEARs old news......

Alydian officials proposed to build and operate a large bitcoin-mining operation made up of the specially designed rigs, instead of selling its mining rigs to others.
Customers could then buy the Alydian-mined bitcoins without the hassle of operating a rig, according to court papers. Mining rigs require lots of electricity and powerful cooling systems to prevent the equipment from overheating. Alydian said it could install its mining rigs in data centers across the country.
But the company’s technology quickly became outdated. Alydian’s Hans Olsen explains why in this court filing.
Alydian also began to run into more competition from bitcoin miners that cropped up as the currency became more popular. As bitcoins grew in value, there were suddenly more miners going after the 3,600 bitcoins released each day as a reward for their transaction-checking work.

Company officials told Bankruptcy Judge Karen Overstreet that they can’t afford to deliver the bitcoins they promised to a handful of customers who agreed to prepay for them. Last week, the company sought to exercise their power under Chapter 11 to reject the customer contracts, though it says most of the prepay customers are entitled to a full refund. Judge Overstreet is set to consider that request at a Dec. 6 court hearing.
Alydian’s customers include Barry Silbert, the founder of the SecondMarket online marketplace for illiquid securities, who agreed to buy 5,000 bitcoins for about $7.36 each, according to court papers.
Court papers show that Soule Investments LLC agreed to buy about 13,468 bitcoins at $7.42 per coin, amounting to a $100,000 investment. And Joel Yarmon, who once worked as technology director for the U.S. Senate Commerce Committee, signed up for $6,000 worth of bitcoins. His agreement, also filed with the bankruptcy court, shows he agreed to buy 870 bitcoins at $6.90 each.
Those prices would be a steal in today’s market. The volatile bitcoin rose above $700 on one index earlier this week after Congress’s first-ever hearing on the virtual currency.

http://blogs.wsj.com/bankruptcy/2013/11/20/alydian-aims-to-sell-bitcoin-mining-platform-in-bankruptcy/

In a November court document, Alydian said it had only mined about 3,041 bitcoins—not enough to fill customer orders. Officials told a judge they couldn't afford to buy bitcoins outright to give to customers because the price has risen so dramatically.
Bitcoins traded above $800 apiece on one index on Thursday morning, while Alydian had promised one customer that it could buy 5,000 bitcoins for about $7.36 each, according to court papers. Another signed up for 13,468 bitcoins at $7.42 per coin.
Alydian filed for Chapter 11 protection on Nov. 1 to try to get out of its customer contracts. Bankruptcy protection allows companies to break legally binding contracts with a judge's permission.
The bankruptcy filing caught the attention of the bitcoin community for its ties to CoinLab, which owns 65% of Alydian. CoinLab has won credibility with some venture capitalists who decided to invest in it.

http://online.wsj.com/news/articles/SB10001424052702303345104579282600553585842