The prospectus should explain it all how they are going to make...

The prospectus should explain it all how they are going to make the money and at what Bitcoin price they will be profitable at.

I think ASIC will have a good look at it. But I think the profit potential is unknowable at this point. The share price is likely to be set on intangibles, swinging sentiment, and all the normal effects of a highly speculative investment. FMG actually went to over $60 from a lower price than MEJ, based on speculative excitement. Its high in the same money was $131. It has now settled around $50 in the same equivalent money.

if they are purely mining BTC then I will be seriously reviewing my decision to invest.

The PDF release on 13th March lists its intended activities. One of which is 'development of retail consumer products'. Given the chairman's proven expertise and making a fortune developing his previous IT mobile applications, it would not surprise me if he takes the company down this road of making it easy for the masses to use Bitcoin. He's a shrewd young guy with a real record. I'm buying him, not what I read in the papers.