Am I suffering from an incurable case of ignorant optimism? Somebody help me out here.
There is 300BTC in the mining address. We don't know about other funds but let's pretend for a second there are none.
Maximum fine to pay is $100k which has to come out of the mining address (why, I don't know)
So thats 156btc used, about 155 remaining
50% of the 155 to be "reinvested" - so 77.5btc remaining.
77.5 divided by 10,000,000 shares is 0.00000775btc/share.
Latest sold price is 0.00000512btc/share
250BTC to be mined in the next 3 months without any hashrate increase. ie. 0.0000125btc/share in dividends (50% reinvested)
Nobody knows how much hardware has/hasn't been sold, but we do know there is aprox 300+ mining cards, 50% of which have coolers and PSU's - even if they only sold for $0.5/GH that's still $100k+ in assets. Currently that's 0.0000156btc/share in assets.
So the way I'm seeing it a 3 month 100% ROI should be around the 0.0000358btc/share mark.
What am I smoking?
The current Valuation of ActM is 63BTC....
Topic: [ActiveMining] Official Shareholder Discussion Thread [Moderated] - page 77. (Read 629899 times)
June 04, 2014, 08:50:53 AM
June 04, 2014, 08:43:03 AM
Ok so since this is a known fact please prove it. When did Ken say we spend 10 BTC per miner?
Would love to see that quote. That is just a lesson that everyone, especially people selling miners should know. The point is that you can't say building the mining farm is good news without knowing how much you spent for it. Everything you cheerleaders are claiming as "good news" and "forward progress" is actually just evidence of Ken spending your money. You are missing the crucial evidence needed to prove that it is good or bad, and I have no idea how you can look at the results of every other decision ken has made and assume good news.
June 04, 2014, 08:39:13 AM
So it looked like this barge was turning the corner the last month or so and wack we get the State hitting us with this news.....that we all knew was coming. Now that we have a farm going, and are selling product, I think it would be a shame to not see this project to some meaningful and natural end or succuess. This is a very critical time in this company's formation, and were set to take advantage of some really bad players mistakes. I just hope the State levys a suspended penality with criteria that Ken needs to meet in a specific duration decided by the State...or even better, ACTM shareholders that will cure the charges. This is highly unlikely, but this peroid now is what is going to determine the company's future long term. Now that it looked like Ken was getting up after stumbling out of the gate...like most in this field, we get hit with this....understandably. ..and just hope that Mr. Kander has all and the most recent facts on the scenerio. 
You can't know/think/claim that the ship was turning around without knowing how much Ken gave hashfast.
You need to ask whether or not holding bitcoins was a better decision than every other decision to spend money/coins as this went along. We know that giving Ken was silly compared to holding, but what about the decisions Ken made as you went along. It's very likely that paying hashfast right before the price went up for miners that won't ROI and that you can't sell (again due to poor decisons) was an even bigger mistake.
By not getting financials and looking at the silver lining to the clouds without noticing that the cloud was a tornado you have let Ken waste your coins.
That is just looking at one aspect of it. There are so many moving variables, both in and out of Ken's control that it is imposible to calculate some meaningful outcome We have a pretty good mining farm going, and were selling product. Thats progress imo, and this news will just hinder that growth too. I just don't want any what if's in the future. The State helps clear any what ifs. Lol, but that's not how I wanted clarity.
It might be backwards progress. If the mining farm will never create more bitcoins than you could have bought the day you bought the cards it is backwards progress. if you don't turn a profit selling the cards it's backwards progress. I don't understand how you can be happy about the mining farm without knowing how much was spent on it.
I would think that by now bitcoin investors would have learned that spending money doesn't mean great news.
The reason to be happy is its the first tangible progress Ken actually made towards making this company a success. We finally have a mining farm and shares are tradable again. Thats more progress made in the last couple months than in the entire history of the company. Its not amazing progress but progress nonetheless.
Yes it might not have been the profitable position but we don't know without financials. I would like to see financials as well but given the MSD investigation I can see why Ken would withhold that information in order to provide them less information for the investigation. We may have killed all hopes for a financial report until this investigation subsides since Ken has been told by his lawyer to provide the MSD as little info as possible.
Involving legal authorities forces Ken to hold his cards even closer to his chest which results in us knowing less about the company people complain and the feedback loop repeats. Its an unfortunate cycle.
Spending 10 bitcoins on a miner that will create 9 bitcoins is not progress. Buying mining cards that you can't turn on or sell is not progress. How can people not see this?
Ok so since this is a known fact please prove it. When did Ken say we spend 10 BTC per miner?
Would love to see that quote. June 04, 2014, 08:39:03 AM
So it looked like this barge was turning the corner the last month or so and wack we get the State hitting us with this news.....that we all knew was coming. Now that we have a farm going, and are selling product, I think it would be a shame to not see this project to some meaningful and natural end or succuess. This is a very critical time in this company's formation, and were set to take advantage of some really bad players mistakes. I just hope the State levys a suspended penality with criteria that Ken needs to meet in a specific duration decided by the State...or even better, ACTM shareholders that will cure the charges. This is highly unlikely, but this peroid now is what is going to determine the company's future long term. Now that it looked like Ken was getting up after stumbling out of the gate...like most in this field, we get hit with this....understandably. ..and just hope that Mr. Kander has all and the most recent facts on the scenerio.
You can't know/think/claim that the ship was turning around without knowing how much Ken gave hashfast.
You need to ask whether or not holding bitcoins was a better decision than every other decision to spend money/coins as this went along. We know that giving Ken was silly compared to holding, but what about the decisions Ken made as you went along. It's very likely that paying hashfast right before the price went up for miners that won't ROI and that you can't sell (again due to poor decisons) was an even bigger mistake.
By not getting financials and looking at the silver lining to the clouds without noticing that the cloud was a tornado you have let Ken waste your coins.
That is just looking at one aspect of it. There are so many moving variables, both in and out of Ken's control that it is imposible to calculate some meaningful outcome We have a pretty good mining farm going, and were selling product. Thats progress imo, and this news will just hinder that growth too. I just don't want any what if's in the future. The State helps clear any what ifs. Lol, but that's not how I wanted clarity.
It might be backwards progress. If the mining farm will never create more bitcoins than you could have bought the day you bought the cards it is backwards progress. if you don't turn a profit selling the cards it's backwards progress. I don't understand how you can be happy about the mining farm without knowing how much was spent on it.
I would think that by now bitcoin investors would have learned that spending money doesn't mean great news.
The reason to be happy is its the first tangible progress Ken actually made towards making this company a success. We finally have a mining farm and shares are tradable again. Thats more progress made in the last couple months than in the entire history of the company. Its not amazing progress but progress nonetheless.
Yes it might not have been the profitable position but we don't know without financials. I would like to see financials as well but given the MSD investigation I can see why Ken would withhold that information in order to provide them less information for the investigation. We may have killed all hopes for a financial report until this investigation subsides since Ken has been told by his lawyer to provide the MSD as little info as possible.
Involving legal authorities forces Ken to hold his cards even closer to his chest which results in us knowing less about the company people complain and the feedback loop repeats. Its an unfortunate cycle.
Spending 10 bitcoins on a miner that will create 9 bitcoins is not progress. Buying mining cards that you can't turn on or sell is not progress. How can people not see this?
Lol...I thought you didn't know any prices for anything, and now you know we paid 10 btc to get 9 and paid more for the boards than we can sell them for. Haha. This is the type of unicorn dude ranch hustling attitude of why I stayed away for months before. I don't have time to spin in the cotton candy quicksand, and take a mental ride on the gumdrop pass. Simply put. We all took a shot at this, some of us took an extra shot......and who knows what is going to happen. There a lot of known unknowns, and unknown unknowns. Either way this needs to come to some sort of an inflection point, because we all are just all walking around, and stepping in eachother's skittle colored etheryal unicorn turds in the licorice paved parking lot of Slaughter's sweetart unicorn dude farm. Untill something real happens I'm going back to dating women. At least they are more sane....
The 10 and 9 are just examples to prove the point. You can't say that building the mining farm is a good thing without knowing how much it cost. People need to stop waiting for another inflection point, they keep coming, and every day that you guys sit and wait for the miracle good news or the crippling blow ken is spending your money. Why don't you guys do something to figure it out and stop the negative flow of cash and coins?
June 04, 2014, 08:30:55 AM
few months ago when I was disputing and questioning ken's activities and said this fill be "an epic failure" but nobody listened and i was just ignored and treated like a troll. So much for trying to help others ey. just saying.
Zum, do you still think share price will be at 0.003 soon or did you managed to wake up from your dream?
Zum, do you still think share price will be at 0.003 soon or did you managed to wake up from your dream?
Of course the share price won't hit 0.003 btc in the next month. I said that before this news broke for crying out loud! Without this setback yes I do think it was on the cards however.
There are are only two outcomes for shareholders. Wait it put, out the pitchforks away and see what comes of the recent business opportunities and have a chance of making money.
Side with the feds and lose every penny you ever put into the business. If the company is declared bankrupt how much do you think you'll get? A lot less than the greedy American State, that's for sure.
This company is still in a good position and absolutely has a chance of making us money from our investments. Just because that is the minority opnion doesn't mean it's wrong.
Guys, please stop attacking people who don't agree with you.
okay zummie boy, how about you try explain and convince not me but others how did you arrive at the conclusion that "This company is still in a good position and absolutely has a chance of making us money from our investments" please.
Otherwise you are still dreaming my friend and you should wake up now before it's too late.
June 04, 2014, 08:25:02 AM
Ken still has 6mill odd in refunds that he has not given back. Bad business I know but could potentially bank roll activities.
When people on here scream that he needs to repay all $6 million of pre orders they are lying. He only lost about 500 btc on gox.
We knew the penalty from the Government was coming - $100,000 max and some refunds to shareholders.
When people on here scream that he needs to repay all $6 million of pre orders they are lying. He only lost about 500 btc on gox.
We knew the penalty from the Government was coming - $100,000 max and some refunds to shareholders.
June 04, 2014, 08:15:20 AM
few months ago when I was disputing and questioning ken's activities and said this fill be "an epic failure" but nobody listened and i was just ignored and treated like a troll. So much for trying to help others ey. just saying.
Zum, do you still think share price will be at 0.003 soon or did you managed to wake up from your dream?
Zum, do you still think share price will be at 0.003 soon or did you managed to wake up from your dream?
Of course the share price won't hit 0.003 btc in the next month. I said that before this news broke for crying out loud! Without this setback yes I do think it was on the cards however.
There are are only two outcomes for shareholders. Wait it put, out the pitchforks away and see what comes of the recent business opportunities and have a chance of making money.
Side with the feds and lose every penny you ever put into the business. If the company is declared bankrupt how much do you think you'll get? A lot less than the greedy American State, that's for sure.
This company is still in a good position and absolutely has a chance of making us money from our investments. Just because that is the minority opnion doesn't mean it's wrong.
Guys, please stop attacking people who don't agree with you.
June 04, 2014, 07:46:00 AM
So it looked like this barge was turning the corner the last month or so and wack we get the State hitting us with this news.....that we all knew was coming. Now that we have a farm going, and are selling product, I think it would be a shame to not see this project to some meaningful and natural end or succuess. This is a very critical time in this company's formation, and were set to take advantage of some really bad players mistakes. I just hope the State levys a suspended penality with criteria that Ken needs to meet in a specific duration decided by the State...or even better, ACTM shareholders that will cure the charges. This is highly unlikely, but this peroid now is what is going to determine the company's future long term. Now that it looked like Ken was getting up after stumbling out of the gate...like most in this field, we get hit with this....understandably. ..and just hope that Mr. Kander has all and the most recent facts on the scenerio.
You can't know/think/claim that the ship was turning around without knowing how much Ken gave hashfast.
You need to ask whether or not holding bitcoins was a better decision than every other decision to spend money/coins as this went along. We know that giving Ken was silly compared to holding, but what about the decisions Ken made as you went along. It's very likely that paying hashfast right before the price went up for miners that won't ROI and that you can't sell (again due to poor decisons) was an even bigger mistake.
By not getting financials and looking at the silver lining to the clouds without noticing that the cloud was a tornado you have let Ken waste your coins.
That is just looking at one aspect of it. There are so many moving variables, both in and out of Ken's control that it is imposible to calculate some meaningful outcome We have a pretty good mining farm going, and were selling product. Thats progress imo, and this news will just hinder that growth too. I just don't want any what if's in the future. The State helps clear any what ifs. Lol, but that's not how I wanted clarity.
It might be backwards progress. If the mining farm will never create more bitcoins than you could have bought the day you bought the cards it is backwards progress. if you don't turn a profit selling the cards it's backwards progress. I don't understand how you can be happy about the mining farm without knowing how much was spent on it.
I would think that by now bitcoin investors would have learned that spending money doesn't mean great news.
The reason to be happy is its the first tangible progress Ken actually made towards making this company a success. We finally have a mining farm and shares are tradable again. Thats more progress made in the last couple months than in the entire history of the company. Its not amazing progress but progress nonetheless.
Yes it might not have been the profitable position but we don't know without financials. I would like to see financials as well but given the MSD investigation I can see why Ken would withhold that information in order to provide them less information for the investigation. We may have killed all hopes for a financial report until this investigation subsides since Ken has been told by his lawyer to provide the MSD as little info as possible.
Involving legal authorities forces Ken to hold his cards even closer to his chest which results in us knowing less about the company people complain and the feedback loop repeats. Its an unfortunate cycle.
Spending 10 bitcoins on a miner that will create 9 bitcoins is not progress. Buying mining cards that you can't turn on or sell is not progress. How can people not see this?
Lol...I thought you didn't know any prices for anything, and now you know we paid 10 btc to get 9 and paid more for the boards than we can sell them for. Haha. This is the type of unicorn dude ranch hustling attitude of why I stayed away for months before. I don't have time to spin in the cotton candy quicksand, and take a mental ride on the gumdrop pass. Simply put. We all took a shot at this, some of us took an extra shot......and who knows what is going to happen. There a lot of known unknowns, and unknown unknowns. Either way this needs to come to some sort of an inflection point, because we all are just all walking around, and stepping in eachother's skittle colored etheryal unicorn turds in the licorice paved parking lot of Slaughter's sweetart unicorn dude farm. Untill something real happens I'm going back to dating women. At least they are more sane....
June 04, 2014, 07:44:26 AM
i still dont understand (actually i do) why you all continue to post questions to ken that will never be answered to your satisfaction. here are some of my observations (take them or leave them):
1. Ken is either a pathological liar (http://en.wikipedia.org/wiki/Pseudologia_fantastica), a narcissist (http://en.wikipedia.org/wiki/Narcissism), a really bad businessman, a downright scoundrel (http://www.thefreedictionary.com/scoundrel), or some combination of these.
2. anyone who has been around for any length of time has known the history of his old businesses and the history of this business. if you chose or still choose to "believe" then it is because you are probably a compulsive gambler of some sort (http://en.wikipedia.org/wiki/Problem_gambling - i actually fall into this category and would still be sinking with this ship had bitfunder not closed down to US people THANK GOD!), a totally sheltered and naive person (http://www.urbandictionary.com/define.php?term=Naive), or you are just plain dumb.
3. Ken will never answer questions to your satisfaction because he either doesnt know the answers, makes it up as he goes along, and/or doesnt give a flying fuck about anyone outside himself and/or his immediate family.
4. you probably had better chances with your "investment" by putting it in powerball or megamillions.
5. some of you should really seek help elsewhere, cause this group cannot help you.
i hope the cost of this educational experience (this is how i choose to see it) has been worth it. i will be printing myself out a bachelors degree certificate from AMC/VMC University, though I know I did not pay for it as much as some of you. some of you probably have double doctorates. good luck to you all in your future endeavors and "investments."
1. Ken is either a pathological liar (http://en.wikipedia.org/wiki/Pseudologia_fantastica), a narcissist (http://en.wikipedia.org/wiki/Narcissism), a really bad businessman, a downright scoundrel (http://www.thefreedictionary.com/scoundrel), or some combination of these.
2. anyone who has been around for any length of time has known the history of his old businesses and the history of this business. if you chose or still choose to "believe" then it is because you are probably a compulsive gambler of some sort (http://en.wikipedia.org/wiki/Problem_gambling - i actually fall into this category and would still be sinking with this ship had bitfunder not closed down to US people THANK GOD!), a totally sheltered and naive person (http://www.urbandictionary.com/define.php?term=Naive), or you are just plain dumb.
3. Ken will never answer questions to your satisfaction because he either doesnt know the answers, makes it up as he goes along, and/or doesnt give a flying fuck about anyone outside himself and/or his immediate family.
4. you probably had better chances with your "investment" by putting it in powerball or megamillions.
5. some of you should really seek help elsewhere, cause this group cannot help you.
i hope the cost of this educational experience (this is how i choose to see it) has been worth it. i will be printing myself out a bachelors degree certificate from AMC/VMC University, though I know I did not pay for it as much as some of you. some of you probably have double doctorates. good luck to you all in your future endeavors and "investments."
June 04, 2014, 07:22:21 AM
FROM A PM WITH KEN:
Not very good to threaten legal action, because what I will say to you is have at it.
You can have a refund just like everyone else.
Ken,
Things do not seem to be going very well for you, my friend. Will you be honest and honorable or will this all end very badly?
We can settle this outside of the MSD and without the need for me to use a private lawyer. We really should come up with an agreement of an amount of bitcoin you will give me in exchange for my shares so we do not have to bring this ugliness to court.
Don't you agree?
Lorenzo
Things do not seem to be going very well for you, my friend. Will you be honest and honorable or will this all end very badly?
We can settle this outside of the MSD and without the need for me to use a private lawyer. We really should come up with an agreement of an amount of bitcoin you will give me in exchange for my shares so we do not have to bring this ugliness to court.
Don't you agree?
Lorenzo
Not very good to threaten legal action, because what I will say to you is have at it.
You can have a refund just like everyone else.
June 04, 2014, 07:21:20 AM
FROM A PM WITH KEN
Can any of you actually provide a single example of Ken being dishonest?
No, I have not. If you think I have give me an example.
[/I have not. If you think I have give me an example.
Can any of you actually provide a single example of Ken being dishonest?
Ken,
You have been dishonest.
We have known each other since you first announced Virtual Mining on BitFunder.
You can argue with me, and deny it all you want, but you have been very dishonest.
Lorenzo Money
You have been dishonest.
We have known each other since you first announced Virtual Mining on BitFunder.
You can argue with me, and deny it all you want, but you have been very dishonest.
Lorenzo Money
No, I have not. If you think I have give me an example.
[/I have not. If you think I have give me an example.
June 04, 2014, 07:15:17 AM
Ken,
Please share with us about Active Internet Communications.
"Additionally, Slaughter should have advised investors of relevant complaints against Slaughter and his previous company, Active Internet Communications."
How can you claim you haven't lied to us?
Have you no shame?
Please share with us about Active Internet Communications.
"Additionally, Slaughter should have advised investors of relevant complaints against Slaughter and his previous company, Active Internet Communications."
How can you claim you haven't lied to us?
Have you no shame?
June 04, 2014, 07:12:29 AM
So it looked like this barge was turning the corner the last month or so and wack we get the State hitting us with this news.....that we all knew was coming. Now that we have a farm going, and are selling product, I think it would be a shame to not see this project to some meaningful and natural end or succuess. This is a very critical time in this company's formation, and were set to take advantage of some really bad players mistakes. I just hope the State levys a suspended penality with criteria that Ken needs to meet in a specific duration decided by the State...or even better, ACTM shareholders that will cure the charges. This is highly unlikely, but this peroid now is what is going to determine the company's future long term. Now that it looked like Ken was getting up after stumbling out of the gate...like most in this field, we get hit with this....understandably. ..and just hope that Mr. Kander has all and the most recent facts on the scenerio.
You can't know/think/claim that the ship was turning around without knowing how much Ken gave hashfast.
You need to ask whether or not holding bitcoins was a better decision than every other decision to spend money/coins as this went along. We know that giving Ken was silly compared to holding, but what about the decisions Ken made as you went along. It's very likely that paying hashfast right before the price went up for miners that won't ROI and that you can't sell (again due to poor decisons) was an even bigger mistake.
By not getting financials and looking at the silver lining to the clouds without noticing that the cloud was a tornado you have let Ken waste your coins.
That is just looking at one aspect of it. There are so many moving variables, both in and out of Ken's control that it is imposible to calculate some meaningful outcome We have a pretty good mining farm going, and were selling product. Thats progress imo, and this news will just hinder that growth too. I just don't want any what if's in the future. The State helps clear any what ifs. Lol, but that's not how I wanted clarity.
It might be backwards progress. If the mining farm will never create more bitcoins than you could have bought the day you bought the cards it is backwards progress. if you don't turn a profit selling the cards it's backwards progress. I don't understand how you can be happy about the mining farm without knowing how much was spent on it.
I would think that by now bitcoin investors would have learned that spending money doesn't mean great news.
The reason to be happy is its the first tangible progress Ken actually made towards making this company a success. We finally have a mining farm and shares are tradable again. Thats more progress made in the last couple months than in the entire history of the company. Its not amazing progress but progress nonetheless.
Yes it might not have been the profitable position but we don't know without financials. I would like to see financials as well but given the MSD investigation I can see why Ken would withhold that information in order to provide them less information for the investigation. We may have killed all hopes for a financial report until this investigation subsides since Ken has been told by his lawyer to provide the MSD as little info as possible.
Involving legal authorities forces Ken to hold his cards even closer to his chest which results in us knowing less about the company people complain and the feedback loop repeats. Its an unfortunate cycle.
Spending 10 bitcoins on a miner that will create 9 bitcoins is not progress. Buying mining cards that you can't turn on or sell is not progress. How can people not see this?
June 04, 2014, 07:11:25 AM
We made the evening news:
Ken has made a lot of new articles. Here are just some quick ones I found googling
References to MSD:
http://www.ozarksfirst.com/story/d/story/bitcoin-scheme-stopped-in-springfield/42134/mpENjSmOFUOVEPibioIXYA
http://www.news-leader.com/story/news/local/ozarks/2014/06/02/secretary-state-halts-springfield-bitcoin-business/9871263/
http://www.tonyskansascity.com/2014/06/kander-missouri-bitcoin-crackdown.html
http://www.coindesk.com/missouri-secretary-state-halts-mining-business-deceptive-tactics/
http://newsbtc.com/2014/06/02/missouri-secretary-of-state-halts-mans-bitcoin-operations/
http://www.monewsfeed.com/springfield/springfield-bitcoin-investment-plan-stopped-by-state-of-mo/
http://www.sos.mo.gov/news.asp?id=1394
http://pro.kzim-am.tritonflex.com/common/more.php?m=49&action=blog&r=1&post_id=70521
http://www.bizfeedz.com/missouri-secretary-of-state-halts-mining-business-over-deceptive-tactics/
http://www.coinboards.org/thread-news-missouri-secretary-of-state-halts-mining-business-over-%E2%80%98deceptive-tactics%E2%80%99
http://bitcoinaware.com/article/17883/springfield-bitcoin-investment-plan-stopped-by-state-of-mo/
Other Links:
http://www.woodlaw.com/cases/virtual-mining-corporation-and-active-mining-corporation\
http://www.ripoffreport.com/r/virtual-mining-corp/springfield-missouri-65802/virtual-mining-corp-vmc-ripoff-by-virtual-mining-corp-vmc-bitcoin-mining-company-spring-1107833
http://www.consumer.ago.mo.gov/search/complaintSearch.cgi Type "Virtual Mining"
June 04, 2014, 06:52:30 AM
Actually, Ken continually lied to us, and the letter you wrote to the MSD secretary was really stupid.
But he works for them, so it will totally get read and considered, totally.
Trust me I know how they think.....I work for them.
June 04, 2014, 06:41:31 AM
Jasun,
Do you have a case of Bitcoin Stockholm syndrome?
This company has always been a barge turning the corner. In fact, the current story has been the story since the very start. Although investor were risk takers, there is a big difference between taking a risk, and someone out and out lying and hiding information from investors that would allow them to make a somewhat educated decision regarding the risk.
Yes, you are all upset because you believe that this MSD thing ruined the chances of ActM to turn around. The MSD thing ruined the the miracle that was supposed to happen. Actually, Ken continually lied to us, and the letter you wrote to the MSD secretary was really stupid.
Do you have a case of Bitcoin Stockholm syndrome?
This company has always been a barge turning the corner. In fact, the current story has been the story since the very start. Although investor were risk takers, there is a big difference between taking a risk, and someone out and out lying and hiding information from investors that would allow them to make a somewhat educated decision regarding the risk.
Yes, you are all upset because you believe that this MSD thing ruined the chances of ActM to turn around. The MSD thing ruined the the miracle that was supposed to happen. Actually, Ken continually lied to us, and the letter you wrote to the MSD secretary was really stupid.
So it looked like this barge was turning the corner the last month or so and wack we get the State hitting us with this news.....that we all knew was coming. Now that we have a farm going, and are selling product, I think it would be a shame to not see this project to some meaningful and natural end or succuess. This is a very critical time in this company's formation, and were set to take advantage of some really bad players mistakes. I just hope the State levys a suspended penality with criteria that Ken needs to meet in a specific duration decided by the State...or even better, ACTM shareholders that will cure the charges. This is highly unlikely, but this peroid now is what is going to determine the company's future long term. Now that it looked like Ken was getting up after stumbling out of the gate...like most in this field, we get hit with this....understandably. ..and just hope that Mr. Kander has all and the most recent facts on the scenerio.
June 04, 2014, 06:34:50 AM
At present there are ~300 coins in the mining address a 50/50 split at current value covers the cost of the maximum fine and dividends.
Dividends cannot and will not be paid ever. Ken has to refund all preorders. There is not enough money to do that but he must pay out ALL the company coins to refunds and he needs to do it now to make a quick exit. Once that is done there will still be millions owed and the company will have zero funds. Ken will then liquidate. He has just dumped 100 Gold cards to get money for these two costs. The company is as good as bankrupt. There is no possible way to turn the company round not financially nor reputationally. We had one of the best mining cards on the market for a month and nobody bought any. Says it all.
I'll humor you with 150 coins left after "Fines and Refunds"
How many shares will that cover at the low end USD price of $0.05 ~2M?
There are 10M shares, 7.7M on Crypto-Trade, most of the "Top Holders" plan to cash out at the first sign of the MSD allowing them to.
At the end of this Ken will not be in any financial position to carry on. While he might not be completely bankrupt, I'd argue he will be extremely close.
What do you think will happen when Ken announces he has to sell the farm, use all the mined coins for refund and fines, and buyback ~5M shares minimum? The rest of the people holding out will then see that this can't possibly go anywhere due to illiquidity and ask for their compensation too from the MSD.
Don't get me wrong here, I didn't want the MSD involved but I'm sure as hell not going to pass a chance to get out of this if they are offering. I believe there are a lot of larger shareholders that share this opinion.
June 04, 2014, 06:26:20 AM
few months ago when I was disputing and questioning ken's activities and said this fill be "an epic failure" but nobody listened and i was just ignored and treated like a troll. So much for trying to help others ey. just saying.
Zum, do you still think share price will be at 0.003 soon or did you managed to wake up from your dream?
Zum, do you still think share price will be at 0.003 soon or did you managed to wake up from your dream?
June 04, 2014, 06:25:35 AM
Can you provide sources for any of your reasons/points?
HF/Pepper Mining - http://hashfast.com/announcing-our-partnership-with-pepper-mining/
"Posted on 05/09/2014 05/12/2014 by Eduardo deCastro
Update: 12-May-2014"
This is old and pre Bankruptcy proceedings.
The rest is your opinion and not fact.
June 04, 2014, 05:57:41 AM
There is no money left is why its over. Just read what ken said - the mining funds will pay the fine and what is left will be to fund future development. So that means we have 60 coins left. Ah but Ken also told refund customers that mined coins will pay their refunds. So we are totally broke now. And HashFast our last chance are going with PepperMinimg not us. Kens rep is the reason for that, he is too much risk even for them. Finally Ken doesnt want this company to succeed and he never has because he has enough coin in his personal wallet to make his life very comfortable.
Can you provide sources for any of your reasons/points?
Jump to: