Topic: [ActiveMining] Official Shareholder Discussion Thread [Moderated] - page 251. (Read 629905 times)

Read the bold, Ignore everything else, lets get the ball rolling on this audit. I've been asking for one since January.

End of March is the end Q1, will we be privy to those financials as well, and if not, when can we expect those?

Trolls are unavoidable online/

One must differentiate between a troll, whose only purpose is to goad, taunt, harass and get a rise out of others, and someone who is a shareholder and is very frustrated by the situation.

Ken seems to have only a few standard answers to every question. For example, below, his response is, something good is coming, and wait, there will be a full report soon.

Once, deferring a proper response would get us to wait. But, it is like that story about the boy who cried wolf.  Too many times with the same story, and no one in the village will believe you.

The real issue is what to do now.


Should we all wait for the "good news"?  Should we walk away from this mess?
Should we demand Ken do something?

I have no problem with that; however, I don't think it is necessary as we will be releasing financials for last year by the end of the month.

I've been advised that the best first step we as shareholders could make is to have the company audited by an independent third party, if necessary funded by us as a group.

I can see no reason why Ken should not allow this unless he has something to hide - it would cost the company nothing, the information would only be provided to actual shareholders and not released into the public domain. IT would prove once and for all if our situation is a result of a scam or just simple mismanagement and incompetence and would provide us with physical evidence one way or the other.  There are 3-4 members of staff that are just twiddling their thumbs at the moment and have been for the last 6 months at least, I'm sure they can find time to pull up whatever documents the auditor requires.

@Ken - will you allow an independent third party chosen by shareholders to do a full audit of the company? The shareholders will agree to collectively fund the audit and reimburse the company for any staff hours lost due to the audit.


I suggest we all continue to ask this question from Ken until we get a definitive response. If he refuses to allow this I think we have our answer as to whether or not this is an outright scam or not.

I'm trying to lay low but will post when people get their facts wrong which directly involve me.  DDan has confused me with another shareholder.

In other matters, I've been trying to think of ways to demonstrate my faith and absolute confidence that this current situation is temporary and in the near future we will all be rejoicing and circle-jerking at the moon again when I thought I would offer five 1 bitcoin bets with the first five takers regarding my expected positive outcome for ActM.  The better idea is that I put my money where my mouth is and offer to buy 8 btc worth of ActM shares.  So guys, the person who offers me the highest number of ActM shares for 8 btc wins.  We set up an escrow and pay half each if there is a fee, using a trusted shareholder.  I will not accept an offer unless I trust that person even if it's the most favourable.  So get pm'ing!

DISCLAIMER:  I have PM'd Ken very recently regarding the current situation and shareholder sentiment and suggested he takes measures to turn the situation around.  His reply was very short, gave no facts, no hints about progress but asked for patience and made mention of a bright future for ActM.  I am not expecting anything significant from tonight's update, so for those of you who are, don't build your hopes up.

Finally, there is nothing special about the fact that I come on here and share limited information from Ken.  It has always been the best way to gauge how things are going in my opinion, and you can all do it.  So if you want reassurance or if you want answers to your questions, pm Ken directly.  That's what the clever shareholders have been doing for the best part of a year.  Also, the irc channel #ActM is polar opposite to this thread in terms of company knowledge, quality conversation and lack of attention seeking whinny kids who can't take responsibility for their own investment decisions when they think they aren't going well.  So for those of you who are not convinced this company is finished, go hang out in level headed, rational company and get the inside knowledge you're after. 

it seems more and more like labcoin,and all of us still hoping to get mining chips

I don't think anyone here truly believes that Ken had money on Mt. Gox. I sure as hell don't believe it.

I would definitely request some financial statements if I were a shareholder.  In the article, Ken states he has four employees, all family members, working for this company. Some time back when this was brought up, zumzero thought it was great, because it meant this is a family business and Ken's family would therefore work long hours for very low pay. We should check if he was correct.

Ken did not have coins on Mt. Gox, he was selling on Bitstamp since last summer!

don't be fooled, you can even see the order book, last time bitcoin was $90 and fell to $60 Ken was selling. This was a little after the fundraising.

A convenient alibi Ken, but no.

Similar to Labcoin. Half users write it off and are pissed. Other half are in denial 'just in case' it's for real.

My conclusion as to how Ken is handling his business. The only logical conclusion is to let him exercise his option to make chips when the right opportunity arises.

I think anyone asking Ken for answers should first ask for EVIDENCE of any of this actually happening.  He can tell you what you want to hear all day.  Things like, "Working on it, soon, had to realign the forward deflector dish..." 

I want to see some proof.  Screenshots, camera shots, whatever.  Show us something legit.  Then answer the questions.

hindsight usually involves kicking oneself in the (be)hind.

man! I'm kicking myself in the ass that I didn't get out of this mess during the Sept. 4 bitfunder spike.

~9 months ago.

The great thing is VE followed through with his act and now he is waiting on the authorities to handle the situation. Ken has no more reason to hide who he is working with. There is not one legitimate reason I can think of at this moment. No one here is about to go march down to Ken's affiliates and point a gun to their head, otherwise it would have happened to Ken already.

"Oh they might spam/bother/verbally attack who I am working with and mess up business relations." Well seeing as I can't see any work being done anyways I don't think that will be a problem.

I would not hold your breath for the first part of this question. Ever since the VE incident Ken has stated that he does not want to risk exposing our vendors to the wrath/curiousity/whathaveyou of ActM's customers and/or shareholders. As the for the latter part of the question, I think even I could answer that. There are 4 family employees (all Slaughters), 2 engineers (not sure if they're employees or contractors but same basic concept), and a project manager (and maybe a lawyer but that probably wouldn't count as an employee)