I have been a shareholder since the "second IPO" at .0025, I consider myself a small shareholder at just under 5 figures, and Actm is less than 10% of my investments. I almost never post in any forum on the net but I had to register and post after this latest update just because it was so comical. Some words come to mind with this latest update, such as 'what a joke.'
If you take a step back from all of this and analyze the updates at their entirety, you see a pattern of deception. With out going into the absolutely bold face lies from the past, looking at the most recent examples: "you have an accountant" when shareholders were calling for an audit, and also stated that at "the end of the month" detailed reports would be released. Now, it is Ken saying he is "getting an accountant" to work on the books. On April 2nd you stated that "I will be working with our CPA next week to get our books in order and pay any taxes that are due." This infers you have had one for some time, never mind the fact you have said prior to this date that you did/do/had/looking/found one. So which is it, you have one or you don't? Digging through this mound of crap, one can determine you are full of it and most likely do not have any CPA representation. If you did, those questions on financials would have been answered long ago. Actm is in a niche market, there isn't 1000s of different products being pushed out the door, it is not in several different market spaces where different tax laws and accounting procedures need to be introduced. Actm is in one space, bitcoin, mining and selling. If a CPA were truly working on "the books" for this long, at the very least a summary report and profit forecast model would have been created.
The lawyer mirage. Ken has said time and time again that his attorney is working with the MSD regarding the legality of shares and your shareholders. Ken has always portrayed this as a slippery slope, which I would agree it is very much so. However, during Kens excuses for why long term shareholders cannot get trading, day traders and even Ken himself have traded shares on Crypto Trade (Ukyo shares). If the MSD investigation is such a sensitive element to the game right now, I can almost guarantee that Kens "attorney" would have suggested all trading be halted, if there was to be any suggestion around share trading, not some of the shares trading across exchanges, but all trading ceasing IF it was an issue. Considering that this is an unlicensed security on the current unlicensed exchanges, and the vagueness of US law, it is clearly a grey area, so one would assume if the advice was given to not allow us our shares, all trading would be stopped. However, this is not the case, and even the "CEO" traded shares of his security, belonging to another investor (Ukyo), to recoup losses on this shareholders exchange by placing a legal "lien" on his shares. Is there any proof of this lien? nope. Isn't that considered unethical, to trade as we are now? Some can, most cannot? Never mind the fact that I could never see an attorney advising you; "No Ken, do not allow the majority of your shareholders who were from the defunct exchanges of bitfunder and btct to access their shares because of the MSD investigation. However, go ahead and issue/release/confiscate shares from a shareholder who you say owes you coin (Ukyo) and place them on another unlicensed exchange, sell them to the masses, and allow these shares to be day traded. No, it won't cause an issue in the eyes of the MSD, SEC, or FinCEN, only the past shares will."
If Ken had an attorney, the advice would not have lead to him allowing some shares to trade, while at the same time allowing him to trade his own shares (Ukyo lien). He/she would have advised him to cease all trading or to continue trading, not this one foot in one foot out scenario we find ourselves in now. I am not claiming this to be 100% the case, but can we not agree it seems odd that the attorney would deem this ok in its current form? Common sense eventually has to take a precedence over blind faith.
The trading promises. Over the last 5 pages of Kens latest posts, he has lead us to believe no less than 5 different times that he would be getting the shares up and trading for us either soon or next week. This is just the last 5 pages going back to March 28th. If we go back even further, we have heard him say at least 8 times that he was getting the verification site/process uploaded/finished/available over the last two and a half months, and countless references that trading will start soon. The man cannot even verify that we own the shares, or chooses not to. On March 30th Ken had the gall to say he has always been honest with his shareholders, even though we can all go through his post history and dig up countless lies or deception. Ken, do you really feel it is honesty to withhold information, lead us astray and make false promises? It is still untruthful even if you steer the truth into a lie later, or omit to telling the truth in the first place. This is what he has done with our shares, and has continued to drag out this process for some reason other than the MSD issue. I am starting to think he doesn't have the asset list, it was asked for a while back, he said he had it, but didn't produce it. I want to state explicitly I am not at all wanting my shares just to trade, I actually do not want them on Havelock or CT, I would much prefer Counter Party or something of the like. All I really need is to be able to verify they are my shares! That is it, no trading, just verify. Is the MSD stating I cannot do this? No they are not. So let us verify please sir. Though, considering we do not have a verification site, and we keep getting the run around on empty promises, all we can assume is that the deception at play here means he cannot verify the shares, lost the list, and we are only able to verify by screenshots. Hope you all took those!
The positives. Praise and criticism surely come hand in hand with any success or failure. Ken has done a significant 180 in his bid to create a competitive mining farm. I never felt this was a scam and still do not see it as such. There have been some large hurdles to overcome in the process over this last year, and Ken has been able to accomplish some of his goals in this instance, to that we give him kudos. The road map is still long and there are still many things for him to complete. The positives, however, are far outweighed by the negatives that are self created, namely with the shareholders and investors in his ambition. These negatives are not hidden or swept under the rug by the positives achieved in his endeavor.
I am not foolish to think that Ken will actually read this post and take it to heart. He will not change his tune by my voice or yours, and this post is subject to deletion because it has negative overtones, whether they be real or not. In the end, TLDR; the blundering incompetence and down right misinformation being spread by this CEO is astounding. It's actually an amazement to me that Ken has been able to accomplish anything with how far in over his head he truly is from a PR standpoint as well as an investor confidence stance. To continue this charade of blatant misinformation regarding the shares, the MSD, the legal council, the CPA and financials and the current trading situation is not only reckless it is insulting.
I find it also some what amusing that the usual confidence building, Ken can do no wrong, suspects, are silent on this latest update. Normally the process is for Vince, Zum, Bara and the like to follow Kens usual update with lines support. I will admit I do love the confidence these guys have, and I have followed in step with them for some time. I commend them on their hard work and faith, and I am not joking or being facetious. But, even they cannot distract nor find a positive light shining in this filthy update just released by Ken, so they remain quiet, and I understand why. Even they consider this to be a daunting update, as do the rest of us. It is right there in black and white, and it cannot be denied. The misinformation, failed promises, and outright lies are like a slap in the face to them as well. We are all in this boat together, albeit sinking from a shareholders perspective. The only person profiting from this is Ken, while the rest of his shareholders stir up emotion on this forum, bikker and go toe to toe. For Ken that is a welcome distraction away from the limelight shining upon his ineptitude, while he can continue doing what he does.
As I see it, right now if we stay within the cage Ken has said we must be in, the least that can be done is verify our shares. This will help a lot of us in terms of confidence, because right now I do not own my shares, AMC-TENDER does, and I have no legal right to them. If we verify, I am sure a lot of us can look past these indiscretions for what they are and move on. After restoring confidence with share validation, the next equally important, if not more, is to verify your financials. We have a right to see where our money has gone, been lost, spent and stored. In doing so, these two steps would create bullish sentiment amongst all of us. I don't know who has Kens ear, but someone needs to spit in it and get the ball rolling on these two very important details.
If Ken continues this volley of feces week in and week out, eventually something is going to break, and we do not want that, we will all suffer. I am surprised some of you haven't snapped already and taken matters into your own hands considering some of the ugly posts I have seen from Actm shareholders. People get worked up over money and wealth, it will only be a matter of time with a world full of crazy investors and wealthy hungry individuals.
