Topic: [ActiveMining] The Official Active Mining Discussion Thread [Self-Moderated] - page 365. (Read 771302 times)

There are some entries that raise my eyebrows though

Computer and Internet Expenses 26,973
Travel Expense 12,939

Who is travelling where for that kind of money?

Also if  $25K was spent on advertising, Ive not seen a lot of that yet.

BTW Ken, at least put the currency somewhere on your reports. Im going to assume its US dollar, and not Belizian dollar (or BTC), but we shouldnt have to guess.

So no IPO funds were required for the first batch and all the other components needed to make the miners?

So the IPO money was for a chip design and that was all? Damn.

I think IPO funds went to eASIC didn't they?

DTS you need to remember these accounts are already 6 weeks give or take old. We have had significant online sales since then. Including a 1Mill USD order, which I'm not sure was or wasn't genuine.

VE- you don't even know what the term 'liabilities' represents, maybe you should leave the accounts analysis to someone else?

'lol'

The report does not say the avalon refund or IPO Bitcoins were converted, just the sales were converted.

I am sure a Bitcoin account can be held and still be useful, Ken can convert Bitcoin into fiat as needed. I really thought ActiveMining had a store of Bitcoin.

So all we really have is a grand total of $150,000? Thats not going to be enough for even one batch...

I thought the IPO funds were enough to cover the first batch expenses.

The report says the bitcoin was converted.  no btc was saved as it needed to be turned to fiat to be useful.  
we are not sitting on several thousand btc lol

VE- If I had anything to gain by massaging our CEO's ego you would have a point -  but obviously I don't. So my post represents my honest opinion. If you don't agree with the points I've made please question them. If you feel my points are valid then pretend they don't exist and also please continue to show your immaturity on here. Every thread needs a clown.

I am going to take a guess and say that the money to buy the first batch and maybe the second batch will be apart of the "Active Mining Corporation" report due at the end of November.

I am also guessing that the companies current Bitcoin balance will be on that report too? Are we not sitting on several thousand Bitcoin?

Also I hope we have 50TH/s+ by the time this next report at the end of November comes out. I can't imagine sitting on 1TH/s in December.

minerpart, does the report show how much money is left in USD and Bitcoin?

How much money is available to buy the main batch when its ready?

These accounts are very reassuring for at least 4 main reasons:

1) With the mention a few weeks ago by Ken that we are using an ex-SEC employed lawyer the fear was that we would be spending a small fortune on lawyers fees.

Legal Expense - 7,500.

Well done Ken, it seems you have adopted a very sensible and realistic approach to the legislative issue (ie you see the risks here and don't want to ignore them) and have spent what I would consider a minimum amount on legal advice. Top marks.

2) With the fact that the contract allows Ken to pay out all expenses before divs are paid it was feared he could simply assign himself large amounts of pay to the detriment of our bottom line (shareholder profit).

Payroll Expense 20,205

Considering Ken is also employing atleast one other person in the office (I believe) this is a reassuring sign that Ken is spending (and assigning himself) minimal amounts in wages so placing the least strain possible on company profits at this delicate time.

3) I asked Ken a week or so ago, maybe more, if these accounts will show his and staff wages because people are concerned they might be over the top. I got no response. I feared the worst - that we would see most of the income going out as wages. It's far from the case so from that I take it that when difficult questions are asked on here and no reply is given it doesn't mean we have to fear the worst. It might not be great communication and we can't say that is great obviously if that is the case. But it seems sometimes it may mean Ken simply missed the question, or he doesn't think it needs an answer (for whatever reason, maybe because he knows the answer will be available in a few weeks), or he feels for confidentiality reasons he can't answer at that time. Remember CEO's can get in serious trouble for leaking information that is considered influential on share price before official reports are released. There are strict rules on this to prevent insider dealing so with the SEC scrutiny that is around this industry right now I think most of the time Ken is just covering his back - for all our sakes.

4) We are solvent and show a healthy bottom line.

In summary, great job Ken, it looks like you've done a professional job so far on many fronts. I can't fault you personally on anything you have done, said or demonstrated throughout this whole venture. Keep it up.

Thanks, got it!

Thank you! Looking forward to the next weeks.

If you hover over the post date, you'll see that the post was edited today.

I'm confused. The last message I see here is from the 5th of November. Where ist the latest report?

Haha there would be someone left after they buy mine...

Although I think I will be holding for a very long time, I am not desperate enough to sell below cost. Yet.

And even you are selling your shares.
That must mean there are 0 shareholders left then.

If anyone is interested, we are now creating dividends at the same rate we were on the 30th of September. So the extra hashpower pushed back the decline by 2 weeks.

Also to get you all excited, just one 24TH/s machine will increase our mining ability by over 10x!

Although some shareholders predict 20TH/s may be our ceiling, I am hoping ActiveMining does way better and with 50% reinvestment we might be able to maintain single digit percent of the network for a long time to come.

Sorry for ramblings it just feels like crickets in here and I am the only shareholder left...

Ken asked us to tender them, but now the exchange is closed I am not sure if it would make a difference.

Do we actually have to "tender" them tho - because the shares lists are all public anyway...

All the shares have to be given back to Ken, verified or not, makes no difference now.