[ActiveMining] The Official Active Mining Discussion Thread - page 327.

lewicki

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Quote from: Vbs on July 11, 2013, 08:44:09 AM

For me, this part is very clear and makes perfect sense:

Quote from: kslaughter on July 10, 2013, 08:36:22 PM

(...)
https://en.wikipedia.org/wiki/Revenue_recognition

Quote

The revenue recognition principle is a cornerstone of accrual accounting together with matching principle. They both determine the accounting period, in which revenues and expenses are recognized. According to the principle, revenues are recognized when they are realised or realisable, and are earned (usually when goods are transferred or services rendered), no matter when cash is received. In cash accounting – in contrast – revenues are recognized when cash is received no matter when goods or services are sold.

Basically, revenue recognition vs. cash accounting.

Which also means that sometime in August we might get dumped on with a huge dividend (from this sale, and future ones between now and then). Cheesy

Vbs

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For me, this part is very clear and makes perfect sense:

Quote from: kslaughter on July 10, 2013, 08:36:22 PM

(...)
https://en.wikipedia.org/wiki/Revenue_recognition

Quote

The revenue recognition principle is a cornerstone of accrual accounting together with matching principle. They both determine the accounting period, in which revenues and expenses are recognized. According to the principle, revenues are recognized when they are realised or realisable, and are earned (usually when goods are transferred or services rendered), no matter when cash is received. In cash accounting – in contrast – revenues are recognized when cash is received no matter when goods or services are sold.

Basically, revenue recognition vs. cash accounting.

finlof

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Quote from: FloatesMcgoates on July 10, 2013, 10:19:55 PM

Quote from: kslaughter on July 10, 2013, 10:17:24 PM

Quote from: FloatesMcgoates on July 10, 2013, 08:57:48 PM

Clearly ken's response means that he does not plan to pay out dividends. Oh well time to see what effect this has on the stock price.

The main problem is that there will be little to no accountability on whatever happens to these pre-order sales figures.

I plan on pay dividends and a lot of them. I want to make all the Investors in AM very successful, because if the Investors are successful I will be successful.

Sorry my statement was unclear. Obviously you intend to pay out dividends.

What I meant to say was that you are not going to be factoring the pre-sale revenue into the dividend payout.

paying dividends on a pre-order would be like paying dividends on a business loan. as a business owner i cant even fathom thinking as you all are thinking. i would have run my business into the ground years ago if i practiced the accounting principles floates and volcanic are suggesting. seriously guys yall need to chill the fuck out and quit assuming you know how to run a business without doing a little research 1st...

lewicki

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Quote from: Technologov on July 11, 2013, 01:17:09 AM

1. Is the conversion from AMC -> ActM shares automatic ?
1.a. What is AMC-TENDER ?
2. What is the estimated time-frame for glueing the 20,000 Avalon ASIC chips into motherboards and building working systems from them ?

First page has everything you need.

1) Conversion of AMC->ActiveMiner shares is not automatic. Transfer your AMC shares to the user AMC-TENDER on Bitfunder tomorrow after Divs are paid out (the deadline for transfer before AM/AMC divs are paid this week was yesterday at 1pm CST). Then send an email as stated on this first page of this thread. If you send them now you will not receive divs. Conversion of AMC-PT shares is on hold until ActiveMiner is approved on BTC-TC. Do no send anything if this is the case.

1a) AMC-TENDER is the account name that is accepting the AMC shares. After sending your shares to that account, send an email (check the first page for details) letting Ken know how many shares you sent and at which time, etc. Within a day you will be sent ActiveMiner shares.

2) Chips are shipping as we speak. Prototype will be complete the week of July 21st I believe. Complete Avalon clones will be done sometime in August.

Technologov

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1. Is the conversion from AMC -> ActM shares automatic ?
1.a. What is AMC-TENDER ?
2. What is the estimated time-frame for glueing the 20,000 Avalon ASIC chips into motherboards and building working systems from them ?

lewicki

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Activity: 294

Merit: 250

Quote from: davecoin on July 10, 2013, 11:38:45 PM

Apologies for not understanding entirely...

I hold shares of AMC on bitfunder. How do I do this:

On BitFunder.Com:

1). Tender our AMC shares by pushing the shares to AMC-TENDER.
Your AMC shares will then be tendered for ActiveMining shares.
2). Then email the above information to [email protected]

What is AMC-TENDER?

How does one "push" shares?

Thank you,
Dave

Don't do it now though. Wait for the dividends to come out tomorrow before you transfer your shares to AMC-TENDER. The deadline to transfer your shares before dividends tomorrow was 1pm Wed. If you don't, your shares will be stuck in limbo and you won't receive anything.

ArcticWolf

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Quote from: davecoin on July 10, 2013, 11:38:45 PM

Apologies for not understanding entirely...

I hold shares of AMC on bitfunder. How do I do this:

On BitFunder.Com:

1). Tender our AMC shares by pushing the shares to AMC-TENDER.
Your AMC shares will then be tendered for ActiveMining shares.
2). Then email the above information to [email protected]

What is AMC-TENDER?

How does one "push" shares?

Thank you,
Dave

It means to Transfer them via the Transfer tab in your My Assets page

davecoin

hero member

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Apologies for not understanding entirely...

I hold shares of AMC on bitfunder. How do I do this:

On BitFunder.Com:

1). Tender our AMC shares by pushing the shares to AMC-TENDER.
Your AMC shares will then be tendered for ActiveMining shares.
2). Then email the above information to [email protected]

What is AMC-TENDER?

How does one "push" shares?

Thank you,
Dave

kslaughter

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Activity: 476

Merit: 250

Cross Post from the AMC Thread

Everyone should be transferred through the dividends cutoff time of 1PM CDT. If you are transfering on
Bitfunder or if you are on BTCT.CO and transfering to Bitfunder ActiveMining then all these should be done.

Please PM me if you have not received your shares in the above cases.

Those on BTCT.CO that have tendered their shares are in a holding bin until we can create a asset on BTCT.CO and
get approved. If you would like me to push your shares back to you please send me a PM.

lewicki

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Activity: 294

Merit: 250

Quote from: VolanicEruptor on July 10, 2013, 11:33:09 PM

Quote from: lewicki on July 10, 2013, 11:29:59 PM

Quote from: VolanicEruptor on July 10, 2013, 11:28:09 PM

I would like to know what Ken's native language is. It is not English.

Call him tomorrow. His accent couldn't get any more southern american.

Okay well he's not bad for someone who speaks english as a 2nd language. I'll give him that.

Since you're so good with Wikipedia articles:
http://en.wikipedia.org/wiki/Southern_American_English

VolanicEruptor

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Quote from: lewicki on July 10, 2013, 11:29:59 PM

Quote from: VolanicEruptor on July 10, 2013, 11:28:09 PM

I would like to know what Ken's native language is. It is not English.

Call him tomorrow. His accent couldn't get any more southern american.

Okay well he's not bad for someone who speaks english as a 2nd language. I'll give him that.

lewicki

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Activity: 294

Merit: 250

Quote from: VolanicEruptor on July 10, 2013, 11:28:09 PM

I would like to know what Ken's native language is. It is not English.

Call him tomorrow. His accent couldn't get any more southern american.

VolanicEruptor

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I would like to know what Ken's native language is. It is not English.

FloatesMcgoates

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Quote from: lewicki on July 10, 2013, 11:03:28 PM

Quote from: FloatesMcgoates on July 10, 2013, 10:54:48 PM

Asking a question about how pre-sales will be paid and then questioning kenneth's decision is FUD according to you?
As someone who has both praised AMC and been a detractor it is quite stunning how many people here treat AMC as some sort of religion. Criticism isn't the end of the world.

This is FUD:

Quote from: FloatesMcgoates on July 10, 2013, 08:57:48 PM

Clearly ken's response means that he does not plan to pay out dividends. Oh well time to see what effect this has on the stock price.
The main problem is that there will be little to no accountability on whatever happens to these pre-order sales figures.

Where are you getting this information from? It is clearly made up and conveys that even though you have no idea what you are talking about, you then go on to say that this will somehow affect the security's price.

Quote from: FloatesMcgoates on July 10, 2013, 10:19:55 PM

Sorry my statement was unclear. Obviously you intend to pay out dividends.

You shouldn't be apologizing for being unclear. You should be apologizing for reaching conclusions from your own insinuations and not actually looking at the facts.

Look I'm not going to be one of those guys i've seen in the other thread that get emotionally involved and start a heated argument over this company, so I'm just going to add you to my ignore list. All my posts in this thread or the other has been either to push Kenneth and his company in a direction that would result in a beneficial outcome for both himself and the shareholder or to gather more information about company procedure and timelining. If you don't like that, then do to me what I will do to you and just ignore, thank you.

kslaughter

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Quote from: FloatesMcgoates on July 10, 2013, 10:19:55 PM

Quote from: kslaughter on July 10, 2013, 10:17:24 PM

Quote from: FloatesMcgoates on July 10, 2013, 08:57:48 PM

Clearly ken's response means that he does not plan to pay out dividends. Oh well time to see what effect this has on the stock price.

The main problem is that there will be little to no accountability on whatever happens to these pre-order sales figures.

I plan on pay dividends and a lot of them. I want to make all the Investors in AM very successful, because if the Investors are successful I will be successful.

Sorry my statement was unclear. Obviously you intend to pay out dividends.

What I meant to say was that you are not going to be factoring the pre-sale revenue into the dividend payout.

We will factor in all profits from sales and mining into the dividend pay-out. We plan on give very detailed reports also.

lewicki

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Activity: 294

Merit: 250

Quote from: FloatesMcgoates on July 10, 2013, 10:54:48 PM

Asking a question about how pre-sales will be paid and then questioning kenneth's decision is FUD according to you?
As someone who has both praised AMC and been a detractor it is quite stunning how many people here treat AMC as some sort of religion. Criticism isn't the end of the world.

This is FUD:

Quote from: FloatesMcgoates on July 10, 2013, 08:57:48 PM

Clearly ken's response means that he does not plan to pay out dividends. Oh well time to see what effect this has on the stock price.
The main problem is that there will be little to no accountability on whatever happens to these pre-order sales figures.

Where are you getting this information from? It is clearly made up and conveys that even though you have no idea what you are talking about, you then go on to say that this will somehow affect the security's price.

Quote from: FloatesMcgoates on July 10, 2013, 10:19:55 PM

Sorry my statement was unclear. Obviously you intend to pay out dividends.

You shouldn't be apologizing for being unclear. You should be apologizing for reaching conclusions from your own insinuations and not actually looking at the facts.

ArcticWolf

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Quote from: VolanicEruptor on July 10, 2013, 10:45:56 PM

guys, Ken deleted my post and now you're making it visible again Shocked

how dare yee!

This isn't a self moderated thread, ken *cant* delete your posts.

FloatesMcgoates

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Quote from: lewicki on July 10, 2013, 10:52:30 PM

Quote from: VolanicEruptor on July 10, 2013, 10:45:56 PM

guys, Ken deleted my post and now you're making it visible again Shocked

how dare yee!

Good, you were talking nonsense. Either due your due diligence and harden up or get out of the game. You're trying to light fires, and to be honest we've all grown tired of the FUD. Deleting nonsensical posts at this point is a breath of fresh air.

Asking a question about how pre-sales will be paid and then questioning kenneth's decision is FUD according to you?

As someone who has both praised AMC and been a detractor it is quite stunning how many people here treat AMC as some sort of religion. Criticism isn't the end of the world.

lewicki

sr. member

Activity: 294

Merit: 250

Quote from: keewee on July 10, 2013, 10:50:59 PM

Should we tender our shares to AMCTENDER1 on btct.co now and send the email if we are transferring them to the new btct.co stock? Or should we wait until the new stock is approved? The reason I ask is because I'll have very patchy internet access for the next few weeks and I don't want to miss the deadline

At this point, keep your shares so you don't miss this week's divs. In all likelihood it sounds like you won't have to do anything at all (BTC-TC will most likely auto exchange all AMC shares for AM ones.)

lewicki

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Activity: 294

Merit: 250

Quote from: VolanicEruptor on July 10, 2013, 10:45:56 PM

guys, Ken deleted my post and now you're making it visible again Shocked

how dare yee!

Good, you were talking nonsense. Either due your due diligence and harden up or get out of the game. You're trying to light fires, and to be honest we've all grown tired of the FUD. Deleting nonsensical posts at this point is a breath of fresh air.

Topic: [ActiveMining] The Official Active Mining Discussion Thread - page 327. (Read 479317 times)