[ActiveMining] The Official Active Mining Discussion Thread - page 241.

Stuartuk

sr. member

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Merit: 250

Quote from: JMG on July 26, 2013, 02:01:14 PM

Anyone noticed that $AMC at Bitfunder.com paid ฿0.00000517 per share to total 6,400,000 shares which 16yTynjmSe5bsRGykDaaCL5bm2pxiEfcqC, I assume it's "AMC-TENDER", is getting paid for total 5,593,805 shares (5,593,805 shares * 0.00000517 = 28.91997185 BTC)?

So I believe there is no such thing as "Public investor's protection plan"( AMC "owners" just got paid 28.91997185 BTC). I am pretty sure that Mr. Slaughter knows that himself got paid over 28 BTC past few weeks when he set up the dividend payment. It's obvious calculation.

Plus, according to the introduction that Mr. Slaughter wrote, public investors will hold 40% of AMC and AMC "owners"(which is wrong because technically investors are owners, too http://www.investopedia.com/terms/s/shareholder.asp) will hold 60%. But, it seems there are total of 5,941,329 shares on Bitfunder and 2,925,054 shares on BTC-TC which ONLY represent 37.15% (8,866,383/(8,866,383+15,000,000)) ownership while AMC "owners" holding 62.85% of Active Mining Corporation.

I do have years of experience in investing public companies but I think this is pretty suspicious. So be careful.
Just letting community know.

Thanks.

I find your post very confusing. On the point of public protection guarantee this exists, it's in the contract and dividends are and have been paid out and continue to be paid out to total of .0025 per share (IPO) price.

Vbs

hero member

Activity: 504

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Quote from: JMG on July 26, 2013, 02:01:14 PM

Anyone noticed that $AMC at Bitfunder.com paid ฿0.00000517 per share to total 6,400,000 shares which 16yTynjmSe5bsRGykDaaCL5bm2pxiEfcqC, I assume it's "AMC-TENDER", is getting paid for total 5,593,805 shares (5,593,805 shares * 0.00000517 = 28.91997185 BTC)?

So I believe there is no such thing as "Public investor's protection plan"( AMC "owners" just got paid 28.91997185 BTC).

Plus, according to the introduction that Mr. Slaughter wrote, public investors will hold 40% of AMC and AMC "owners"(which is wrong because technically investors are owners, too http://www.investopedia.com/terms/s/shareholder.asp) will hold 60%. But, it seems there are total of 5,941,329 shares on Bitfunder and 2,925,054 shares on BTC-TC which ONLY represent 37.15% (8,866,383/(8,866,383+15,000,000)) ownership while AMC "owners" holding 62.85% of Active Mining Corporation.

I do have years of experience in investing public companies but I think this is pretty suspicious. So be careful.
Just letting community know.

Thanks.

Dividends paid to ActiveMining come from 1:1 shares of AMC. So the number of AMC shares are always equal or grater than ActiveMining shares, since not all AMC shareholders have already tendered their shares to ActiveMining.

SHARES DO NOT REPRESENT OWNERSHIP!

That part is very clear everywhere you look on either BitFunder or ActiveMining's contract.

VinceSamios

sr. member

Activity: 448

Merit: 250

Quote from: JMG on July 26, 2013, 02:01:14 PM

I do have years of experience in investing public companies but I think this is pretty suspicious. So be careful.
Just letting community know.

Thanks.

It's pretty common knowledge not all shares have been release.... and that Ken is holding on to some for later fund raising.... seems like good practice to me.

JMG

newbie

Activity: 47

Merit: 0

Anyone noticed that $AMC at Bitfunder.com paid ฿0.00000517 per share to total 6,400,000 shares which 16yTynjmSe5bsRGykDaaCL5bm2pxiEfcqC, I assume it's "AMC-TENDER", is getting paid for total 5,593,805 shares (5,593,805 shares * 0.00000517 = 28.91997185 BTC)?

So I believe there is no such thing as "Public investor's protection plan"( AMC "owners" just got paid 28.91997185 BTC). I am pretty sure that Mr. Slaughter knows that himself got paid over 28 BTC past few weeks when he set up the dividend payment. It's obvious calculation.

Plus, according to the introduction that Mr. Slaughter wrote, public investors will hold 40% of AMC and AMC "owners"(which is wrong because technically investors are owners, too http://www.investopedia.com/terms/s/shareholder.asp) will hold 60%. But, it seems there are total of 5,941,329 shares on Bitfunder and 2,925,054 shares on BTC-TC which ONLY represent 37.15% (8,866,383/(8,866,383+15,000,000)) ownership while AMC "owners" holding 62.85% of Active Mining Corporation.

I do have years of experience in investing public companies but I think this is pretty suspicious. So be careful.
Just letting community know.

Thanks.

TMAN

legendary

Activity: 1414

Merit: 1808

Exchange Bitcoin quickly-https://blockchain.com.do

eASIC make Chips for violin Storage. These guys are players, a 1mil upfront payment is nothing to them.

Streets 2.0

full member

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FRX: Ferocious Alpha

Quote from: ffssixtynine on July 26, 2013, 12:26:41 PM

Quote from: VinceSamios on July 26, 2013, 12:16:02 PM

Surely NRE can and should be paid in lumps... It's about US$1mil right? Nobody just pays $1mil upfront - I sincerely hope it will be paid in about 3 phases and that the first will be payable fairly quickly (1 week)

Actually yes you do pay almost all up front for some contracts. In particular, if the firm is in demand they can basically call the terms. eASIC are in demand so I imagine they are in a strong position.

All we can do is sit tight and await an official announcement.

I can say, from my experience, up front $1 mil for a contract isn't out of the ordinary. I am employed at a factoring and lending institution (the big one), and we see payouts/contracts/purchase orders etc. of more than a million all the time. Just because a million dollars is a lot to you and I, it is not seen in that light on the corporate level. In 2004 eASIC had 40 mil in revenue alone http://www.easic.com/easic-announces-next-phase-of-structured-asic-business-strategy/ fast forward to 2013. They dont post their yearly profit analysis, but I can only imagine those figures and how mind boggeling they are.

hazryder

full member

Activity: 208

Merit: 100

Yay, finally got my shares through but they're on BTCT, ~~anyone know if/when it's possible to swap them to Bitfunder or should I just sell and re-buy?~~

Scratch that, sold at 46, bought at 44 on bitfunder, happy days.

ffssixtynine

sr. member

Activity: 364

Merit: 250

Quote from: VinceSamios on July 26, 2013, 12:16:02 PM

Surely NRE can and should be paid in lumps... It's about US$1mil right? Nobody just pays $1mil upfront - I sincerely hope it will be paid in about 3 phases and that the first will be payable fairly quickly (1 week)

Actually yes you do pay almost all up front for some contracts. In particular, if the firm is in demand they can basically call the terms. eASIC are in demand so I imagine they are in a strong position.

All we can do is sit tight and await an official announcement.

hazryder

full member

Activity: 208

Merit: 100

Quote from: gwfhegel on July 26, 2013, 12:16:41 PM

Quote from: Pale Phoenix on July 26, 2013, 12:05:05 PM

Quote from: ?? on ??

Thinking of selling my LTC holding to increase ActM. LTC and Gox seem to go nowhere, ActM seems a better horse. Any good thoughts?

I've abandoned all hope that LTC will be traded on Gox in the medium term. They are dealing with seemingly insurmountable problems in their most basic operations, the receiving and paying out of customer funds. In the process they are bleeding market share and inflicting potentially permanent damage to their brand.

The price of LTC seems to have potential trading on GOX factored in, so I would expect it to fall significantly when it becomes clear that it's not going to happen anytime soon.

All of that said, investing in ActM is probably equally risky, but the upside certainly appears to be greater.

EDIT: Unless, of course, Soylent Creek is right about it reaching $10/LTC, but I just don't see it.

The price will probably begin to tank around July 30-31 as people realize it's not coming for a few more months, if at all.

I realized this a couple of weeks ago and moved my LTC holdings into ActM shares instead. Nearly 200% gained already whilst LTC is still floundering around at $2.6. Now if only Ken would hurry up and actually send me my shares I'd be golden Wink

My advice to anyone with LTC holdings is to move a decent amount of them into ActM ASAP as the chance of gox putting LTC support up within a couple of months is low to say the least.

gwfhegel

newbie

Activity: 9

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Quote from: Pale Phoenix on July 26, 2013, 12:05:05 PM

Quote from: ?? on ??

Thinking of selling my LTC holding to increase ActM. LTC and Gox seem to go nowhere, ActM seems a better horse. Any good thoughts?

I've abandoned all hope that LTC will be traded on Gox in the medium term. They are dealing with seemingly insurmountable problems in their most basic operations, the receiving and paying out of customer funds. In the process they are bleeding market share and inflicting potentially permanent damage to their brand.

The price of LTC seems to have potential trading on GOX factored in, so I would expect it to fall significantly when it becomes clear that it's not going to happen anytime soon.

All of that said, investing in ActM is probably equally risky, but the upside certainly appears to be greater.

EDIT: Unless, of course, Soylent Creek is right about it reaching $10/LTC, but I just don't see it.

Exactly my thoughts. I suspect GOX even purposely added that "as risky as it is to mention (LTC??)" line to jolt the market and make a few friends some money. The price will probably begin to tank around July 30-31 as people realize it's not coming for a few more months, if at all.

VinceSamios

sr. member

Activity: 448

Merit: 250

Surely NRE can and should be paid in lumps... It's about US$1mil right? Nobody just pays $1mil upfront - I sincerely hope it will be paid in about 3 phases and that the first will be payable fairly quickly (1 week)

ffssixtynine

sr. member

Activity: 364

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Quote from: auto2nr1 on July 26, 2013, 12:10:52 PM

I read this part. Couple of weeks probably means 3-4 weeks? Let's just say its 1 month. So as of right now we still don't have the NRE paid and it won't be paid for about another month. This is what i wanted clarification for if Ken can provide and confirm this time frame.

Couple equals 2 weeks.

It's fair to allow a few days either way and I'd expect some kind of update if we went past 2 weeks. We're outside of Bitcoin, these things take time

For now we all need to be patient and not expect news or answers for 2 weeks or so. It's not that long to wait!

auto2nr1

sr. member

Activity: 350

Merit: 250

Quote from: knybe on July 26, 2013, 11:36:41 AM

Quote from: auto2nr1 on July 26, 2013, 11:31:05 AM

Quote from: kslaughter on July 26, 2013, 11:23:34 AM

Shareholder Update:

Hello everyone, I wanted to give a quick update to every investor as it pertains to this week’s proceedings.

We had several meetings yesterday, namely the meeting with eASIC which went extremely well. The ground work has been laid and everything is in motion for the NRE as planned down to the smallest of details. I caution everyone that it will take us a couple of weeks to complete the painstaking process of getting all the funds converted and on to eASIC. Please understand for business and legal reasons that we cannot go into any more detail at this time. I would like to say that the future for Active Mining and its shareholders is exceptionally bright and I am over enthused with how this week has played out. An official announcement will be released in due course.

Kenneth E. Slaughter, CEO/CTO
Virtual Mining Corporation
Active Mining Corporation

Thanks for the update. So the funds for the NRE has yet to be paid and will be paid sometime in August to start the process of getting the chips manufactured? Would like clarification in regards to when they might be paid to the ball can start rolling.

Did you not just read the above?

"An official announcement will be released in due course."

I caution everyone that it will take us a couple of weeks to complete the painstaking process of getting all the funds converted and on to eASIC.

I read this part. Couple of weeks probably means 3-4 weeks? Let's just say its 1 month. So as of right now we still don't have the NRE paid and it won't be paid for about another month. This is what i wanted clarification for if Ken can provide and confirm this time frame.

auto2nr1

sr. member

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Quote from: redbeans2012 on July 26, 2013, 11:38:21 AM

What does NRE stand for exactly? Huh

Non-recurring engineering

vlaoou321

sr. member

Activity: 266

Merit: 250

101

Pale Phoenix

sr. member

Activity: 420

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Quote from: ?? on ??

Thinking of selling my LTC holding to increase ActM. LTC and Gox seem to go nowhere, ActM seems a better horse. Any good thoughts?

I've abandoned all hope that LTC will be traded on Gox in the medium term. They are dealing with seemingly insurmountable problems in their most basic operations, the receiving and paying out of customer funds. In the process they are bleeding market share and inflicting potentially permanent damage to their brand.

The price of LTC seems to have potential trading on GOX factored in, so I would expect it to fall significantly when it becomes clear that it's not going to happen anytime soon.

All of that said, investing in ActM is probably equally risky, but the upside certainly appears to be greater.

EDIT: Unless, of course, Soylent Creek is right about it reaching $10/LTC, but I just don't see it.

SoylentCreek

sr. member

Activity: 266

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Quote from: redbeans2012 on July 26, 2013, 11:55:57 AM

Quote from: ?? on ??

Thinking of selling my LTC holding to increase ActM. LTC and Gox seem to go nowhere, ActM seems a better horse. Any good thoughts?

I think holding LTC is a great bet right now.

I would agree. I would not be surprised if it eventually hits the $10-20 range.

tesselate

newbie

Activity: 11

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Quote from: ?? on ??

Thinking of selling my LTC holding to increase ActM. LTC and Gox seem to go nowhere, ActM seems a better horse. Any good thoughts?

I did this, and have no regrets. I am more than pleased with the way ActM is playing out

redbeans2012

hero member

Activity: 887

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Quote from: ?? on ??

Thinking of selling my LTC holding to increase ActM. LTC and Gox seem to go nowhere, ActM seems a better horse. Any good thoughts?

I think holding LTC is a great bet right now.

Ozymandias

sr. member

Activity: 644

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Quote from: ?? on ??

Thinking of selling my LTC holding to increase ActM. LTC and Gox seem to go nowhere, ActM seems a better horse. Any good thoughts?

Something about diversifying and a counter about watching a basketful of eggs a la Warren Buffet.

Topic: [ActiveMining] The Official Active Mining Discussion Thread - page 241. (Read 479475 times)