Topic: [AMC]-The Official Active Mining Cooperative Discussion - page 130. (Read 223316 times)

Now that our First Batch of Early Adopter shares has sold out we are waiting for the Avalon machines to come in and start producing revenue.  We will then start paying dividends to our Investors after the first week of mining with the Avalon's.  Due to the fact that shares were selling with good demand at the .0008 price level, before Ukto of Bitfunder.Com forced us to reduce the price to a bargain level, we will only be releasing shares in batch 2 at no less than .0008 BTC.

Also, we are implementing our Investors Protection Program (IPP) for those Investors who purchased shares higher than .0005 after May 28, 2013 04:59 CDT and on or before May 31, 2013 14:59 CDT.  IPP will reimburse our Long Term Investors the difference between the price they purchased their shares at, and the price of our shares on August 31, 2013 at 00:01 CDT or .0005 whichever is higher, only if the share price is below .0008 BTC on August 31, 2013 at 00:01 CDT.  The Investor must still own the shares to be reimbursed.  This program is being implemented due to Bitfunder.Com forcing us to price our shares at .0005, without due cause.  Of course we will strive in the coming months to raise the share price and add shareholder value to the shares our Investors hold.  

Update:

The group after May 28, 2013 04:59 CDT and before May 31, 15:59 CDT are add to the above group.

The "Growth/Expansion Fund" receives all dividends from unsold shares. So, with only 5M sold, for all intents and purposes it receives dividends from 35M shares.

Think of it like a mechanism to always keep available funds ready for hardware buying.

https://bitfunder.com/asset/AMC

Where can you find current price and trade the shares?

The shares still held by AMC go to reinvestment for more equipment.

And wouldnt it be more logical to pay dividends only to the shares which are sold.. i mean who gets the dividends paid to the millions of unsold shares?? 

There are 6 avalons from batch 2 (feb 18 order) arriving shortly, followed by 68 Bkk-16 (~305GH/s IIRC). There are already orders placed with Avalon for 20,000 chips, all of them going to AMC mining hardware. (edit-20k chips).

I think he should let the first batch of 5 million be sold at 0.0005 and then stop issuing shares until the avalons ship in and the first dividends get payed.. that way there will be some stability for the moment regarding prices and then when he wants capital he can issue a next batch at predetermined price.. but what is happening right now is very chaotic and his whole IPO is just being speculated upon like bitcoin

Hey Ken,
As of now things are kinda chaotic. Would you be so nice and post some plans for near future to sort this a bit ? For example what are we waiting for now and how much of it (avalon HW), do you want to sell it all as you stated on the chat above? How much of it will mine. What are the plans and expected time lines with and after that ?

How did you come to that conclusion? The absence of asks was what led people to paying too much for their shares the last time. As long as 20,000,000 shares haven't been sold the IPO is probably still going on.

Edit: wording

They aren't shipping anything.

They're just taking more pre-orders before delivering on the ones they accepted last year.  A cynic might suspect they have to sell some of these pre-orders to afford to build the machines they already owe.

BFL : Shipping chips?

https://forums.butterflylabs.com/announcements/3014-butterfly-labs-announces-bulk-chip-sales.html

And so far this company has about as much value as a bunch of forum posts:

'bout tree fiddy.

This company is getting more and more speculative regarding "what will be KSlaughter's next move?"
- Will he dump more shares @ .0005?
   If so, try selling higher now, and buy back @ .0005 when he does dump 'em.
- How many will he dump? All remaining ~15 million? If so, that will have a negative effect on share price.
- Will he dump more shares @ > .0005? If so, buy more now while they are cheap!

I've never experienced such insecure IPO before, where the founder sets the rules on a day-by-day basis.
Buy hey, it has it's charm also.

So far I've been lucky enough and bought/sold @ right occasions.

Couldn't he destroy the remaining shares? Set the IPO to 5 or 10 million?

Otherwise this stock could have a price ceiling at 0.0005... until he delivers the goods.

EDIT: I guess the IPO ended at 19:00 PST, on June 1st.

https://bitfunder.com/asset/AMC

No, there is lots of demand for shares >0.0005 as long as the market is not inundated by millions of additional shares at .0005.

The problem is that AMC issued way too many shares for the IPO. An IPO should last hours, maybe days but certainly not weeks or months. This is why all this mess is happening. There should have been only 4M IPO shares and any additional shares should but "2nd IPO", "3rd IPO" and so forth with pre-determined dates and at market prices.

If/when people start selling, they sell for less than 0.0005.

Unless AMC is going to buy them back?

My thoughts exactly. This is why, I think would be much better for Kslaughter to setup a schedule of stock sales and say the price will be based on a percentage below the last 5 days average.

VBS, I appreciate your enthusiasm, but 100,000,000 shares is just way too many.  It's also insane that AMC is paying dividends to the original 40,000,000 shares when they aren't even sold.  I've never heard of paying unsold share dividends to the owner.

I've purchased 24+ btc worth of AMC so of course I'm invested in it's success.  However, pegging future shares at .0005 just screws early short term investors.  Ken isn't going to sell 15 mil more shares at .0005 unless those who you call 'flippers' feel they can make some money in the short term.  You have to remember that your long position isn't any more valid than my short one.

The validity of this project is in question.  People need to feel that this isn't a scam before they invest.  OR they need to feel that they can make a short term profit and limit their risk exposure. Your suggestion completely removes the later reason for investing and only leaves those high risk investors that see this as a valid long term investment.  Either Ken needs to start making people feel warm and fuzzy (which he hasn't even come close to managing to do) or he needs to allow the market to set the price so people can speculate in the short term.

Just my 2c.

IRC Chat Logs:

[21:12] >the feeling when another 15 million appear at 0.0005...
[21:13] Not 15M
[21:13] AMC___: its a joke
[21:13] How many more share will be introduced to the market?
[21:13] I can give you example amounts for each tier.
[21:15] Ok
[21:16] Just have to see how it goes.
[21:16] no more shares?
[21:16] I have a lot of work to do on VMC.
[21:16] Not at the moment.
[21:16] yeah you do, good luck
[21:17] I am trying to get the shopping cart to take bitcoins, so VMC can sell 20 machines for 8/31/2013 delivery.
[21:17] Anyone here want first shot at those?
[21:18] stats?
[21:18] Avalon Clones 80 GH/s  Fast-Hash-80's
[21:19] Honestly, I think posting machines for sale would be a bad move at this point in time.
[21:19] The community really wouldn't care for that.
[21:20] You might get a few orders, but you'd have better impact by waiting
[21:21] Can't wait, have to raise capital to pay for the NRE to semiconductor company.  Not AMC's capital, but VMC's
[21:22] You haven't raised enough capital to foot the bill with AMC?
[21:23] are you marrying the avalon chips to bkk boards?
[21:23] No, that is going into buy chips to increase the hash rate for the cooperative.  VMC is going to foot the bill for the NRE for the chips.
[21:24] Some of the chips ordered on May 1 are going to bkk boards.  68 of them.
[21:24] The two 10,000 Avalon chip orders are going to boards we are spinning up starting this next week.
[21:25] Oh, I did tell anyone yet, that we ordered another 10,000 chips today.
[21:25] I did not*
[21:26] you told us earlier whats expected delivery for those, 9-12 weeks?
[21:26] Max of $400,000 by the end of June.
[21:27] what happens if you dont get enough preorders for fast-hash machines
[21:27] i presume that means nothing gets made
[21:28] Yes, that is no going to happen, If I put up 20 machines for 8/31/2013 delivery, they will be gone in 6 hours at the most.
[21:28] I already have people wanting them from the show.
[21:29] lol
[21:29] naked orders
[21:30] you dont actually have any machines yet though, you dont think that is a problem?
[21:30] ah well, im just gonna cross my fingers and hope for the best
[21:30] That's what I'm trying to explain. You should wait until you atleast have the Avalon ASICS before posting machines for sale.
[21:30] Wansyth: thats not what i meant
[21:31] i meant the idea of selling something that hasnt ever been built yet
[21:31] Who has machines that you can buy today and they will ship today.
[21:31] Everyone will start feeling more comfortable after the first dividends.
[21:31] AMC___: i get your point, but these have not ever been built
[21:31] Well, it is a clone of the Avalon machine.
[21:31] ok, but how do people know you can do it
[21:32] Yes, they are Avalon's machines.  We are using their reference boards and their chips.
[21:32] vultures on btctalk will not let this slide, whatever thread you set up for this they will destroy it
[21:32] ^ I don't think people will be as receptive to the machines being place for sale as you think.
[21:32] Does not matter to me what the BitcoinTalk vultures say.
[21:32] It actually does.
[21:33] You have to look at this from a view of public relations.
[21:33] Well, I have to go, I need to use this screen to debug the shopping cart.  Just have two screen now need three.
[21:34] Well, that is cause you are a PR guy.
[21:34] I am looking at it from the point, I need the cash to get my own chip going.
[21:34] PR is probably your saving grace at this point.,
[21:35] Hi Guy, Just join in. I just bought AMC
[21:35] I start shipping machine, that will be my saving grace.
[21:35] Thanks, you buy the last shares?
[21:35] I got the last 5
[21:36] I was going to send some to an investor that can't get his money into weexchange, but none are left.
[21:36] I am from China. I bought AMC last night
[21:37] So AMC you are K. Slaughter?
[21:37] Hey, I have to go and get this shopping cart running tonight, I have to look at places to do manufacturing tomorrow.
[21:37] https://bitfunder.com/asset/Kenilworth
[21:37] Yes
[21:37] BitFunder.Com - Join the crowd, every BIT helps!
[21:37] AMC___: how much are you going to sell the 80's for?
[21:38] 86 BTC
[21:38] How many do you want?
[21:38] You can be on the top of the queue right now.
[21:39] AMC___: tbh, thats a bit pricey for 80GH/s
[21:39] Expandable to 1.28 TH/s
[21:39] you are selling the avalon batch 2?
[21:39] i have 150GH/s coming from BFL that cost < 86btc total
[21:40] Maybe, but August delivery guaranteed.  Lot nicer that the Avalon's
[21:40] guys?
[21:40] Yes, I know BFL is cheaper, but the Avalon chips are high.
[21:40] BFL starts to sell chips, which will buy them 100 days hopefully
[21:40] have the avalon ships even started shipping yet?
[21:40] chips*
[21:41] Yes, but with there reputation, do you know when you will get them.