Topic: [AMC]-The Official Active Mining Cooperative Discussion - page 29. (Read 223316 times)

That means more eyes on our AM, and thats good business strategy
Also Asicminer is clearly labeled "ASICMINER" on all the exchanges, so there wont be that much confusion

Do you really want to start using the name AM? The name AM has previously been heavily used in the ASICMINER context and if Active Mining Corporation starts using the same AM abbreviation it is going to create a lot of confusion between the two.

Excellent, so my understanding is correct. 

Yes, With the AM shares investors will have 40% of the profits were that only have 10% now, so in that respect it is a good deal.  On top of that they will have a new company that sales hardware.  AMC (Belize) owns everything, VMC is just used to keep all of the manufacturing in one place, all of the profits from VMC will go to AMC which Investor who hold the 10 Million shares get 100% of profit until the total dividends paid is equal to or greater than .0025 BTC.  AMC will be sold or liquidated when the time comes.  First of all, before that happens 9 Million shares will have to be tendered to AMC (Belize) before the merger can go forward.  So, 90% of shareholders in AMC (Cooperative) will have to agree to the merger before it will happen.

My understanding is 'AMC-PT' trading on BTC-TC and 'AMC' trading on BitFunder will continue to exist for a while. Current holders of those shares will be offered a 1:1 swap to the new 'AM' asset. This new asset will be more valuable, so just about everyone following this thread will swap their current 'AMC' shares for 'AM'. I can't imagine why you would not do so.

The key to this deal is there is a NEW corporation called 'Active Mining Corp'. It owns everything. All profits made by this corporation are paid to holders of the new 'AM' asset. Early on, the 10 million investor shares take all the dividends. Once each investor share has earned 0.0025 BTC, all 25 million start getting paid ie the 10 million investor shares and the 15 million owned by Ken.

My understanding is that VMC will just be an internal department of the new AM - essentially the same as a company that has a sales department and a manufacturing department. Keeping this department called VMC allows all the existing contracts with third parties that were signed as VMC to still be valid. Having to go back and redo all of those contracts would delay production IMO

This is what i've been understanding. Now what happens to the AMC security that is exchanged on BitFunder? I as well as other investors are going to be converting our shares to the new AM shares. Will that security cease to exist?


I just want to make sure that the bold text above is cleared up for everyone. We are completely dropping AMC (BitFunder shares i have now) from existence correct? One entity which will now be AMC (Belize) will be the only entity that will exist. I still don't know where VMC is coming from (internally). Can anyone explain that to me? I am only picking at this so that in the future there is no confusion among us shareholders as well new investors and no one will question the structure as we have before the AMC/VMC merger was agreed upon.

I really like where this is going. Might have to buy some more shares

There will have to be a share swap, as the new contract is now very different than the one of AMC. Like lolstate said Active Mining Corporation now owns every asset of the Active Mining Cooperative (AMC).

There will still be a swap if you want it. Swap current AMC for the new AM.  The new AM will be more valuable, so the obvious course of action is to go ahead and do the swap.

Edit: Note the old 'AMC' was 'Active Mining COOPERATIVE'. The new, proposed 'AMC' is different, it is 'Active Mining CORP'. So, this is one reason why I prefer to think of the new 'Active Mining CORP' as one, big thing (with internal departments) that pays 100% of profits to shareholders. The first 10 million investor shares get the first tranche of dividends until each share has earned 0.0025 BTC. After that, all shares including Ken's 15 million earn dividends equally.

I read that as there will be no share swap to another entity anymore, instead everybody just keeps their AMC shares but gets more bang for the buck now. Right?!?

To make it easy, I just think of the new, proposed 'Active Mining Corp' as one monolithic entity paying all profits to share holders. First 0.0025 BTC goes to to the 10 million investor shares, which is the icing on the cake for me.

auto2nr1, think about it this way:

     Active Mining Corp (owns "old" AMC+VMC+cat+dog+bird+world)
   ----------^---------
   |                         |
Investors        Management
  hold                   holds
10M AM              15M AM
  shares               shares

This is how profits are split. Don't confuse it with what Active Mining Corp consists of internally, since the internal "departments" have nothing to do with the profit split.

This is great news I'm loading the boat.

nice, but a little more cowbell would make it perfect

============================================================================================================================

VMC/AMC Merger

This is a Pre-Merger VMC Offering.

(This Is For Community Review Only)

The Final Offering May Be DIFFERENT

(This Document Is For Community Review Only And May Contain Errors)

Version 4 7/5/13

Edit:  Updated "How to buy shares" to include the exchange of AMC shares

============================================================================================================================

Introduction
ActiveMining (AM) is a virtual identity representing all the profits of the Active Mining Corporation and is totally owned by it. The Active Mining Corporation's business includes cryptocoin mining and sales of self-built ASIC devices through its wholly owned subsidiary Virtual Mining Corporation (VMC).

Currently, it is expected for interested investors to hold 10,000,000 AM shares (40% of the profits), while Active Mining Corporation owner(s) shall hold 15,000,000 AM shares (60% of the profits), for a total of 25,000,000 AM virtual shares that represent 100% of the global profits of the Active Mining Corporation.

The first 10,000,000 ActiveMining shares bought by interested investors have the privilege of getting all profits until BTC0.0025/share is paid, starting from the day when dividends begin to be paid.

The issuing of more AM shares will be allowed in the future, provided there is strong economic justification, mainly on the basis of covering emergent capital needs. Existing shareholders also get the first choice for buying new shares before they are sold on the open market. The volume of new shares shall be kept at a minimum as much as possible and the pricing of them should be such that the total value of all Active Mining Corporation's assets (tangible and intangible) per AM share does not diminish, protecting shareholders as much as possible from future dilution of value.

How to buy shares
AM shares will be sold on BitFunder and BTCT.CO and any other exchange, following asset approval or exchanged of AMC shares. Existing Active Mining Cooperative (AMC) shareholders will be entitled to trade their shares for ActiveMining shares, on a 1:1 basis.

Dividend payment
The global Active Mining Corporation's income, including mining income, hardware sales via bitcoins, other cryptocoins and fiat transferred to bitcoins, will be paid to ActiveMining shareholders proportionally, when all manufacturing, maintenance, labor costs, R&D, and miscellaneous expenses are deducted. The first BTC0.0025/share dividends will only be paid to the first 10,000,000 AM shares sold, providing investors a priority in getting back 100% return of their investment.

Our chips
Generation 1: Fast-Hash. 28nm. Each chip's rated frequency is 800 MHz at 1.15V. It translates to 16,000 MH/s because it does 20 hashes per cycle. Chip requires proper handling of heat and power supply.

Our current hardware assets
- 6 Avalon miners, running on BTC Guild under "Team AMC" for around 430 GH/s.
- Order of Avalon chips from steamboat's batch #1, for 68 Klondike-16 boards, rated at 68*16*282 = 307 GH/s
- 20,000 Avalon chips (end of May and beginging of June orders), for a combined hashrate of 20,000*282 = 5,640 GH/s
In total, around 6,377 GH/s[/b].

Version 4 7/5/13

Active Mining Corporation (Belize) owns everything and receives all the profits, 100% of which are then paid to the 10 million shares held by Investors until a total of .0025 BTC in dividends are paid to Investors.

Just by having the name VMC in there is throwing me off a bit. I really want to forget about VMC. This is is why we should just refer to the company as one name. I am sure i am not the only one that is annoyed and frustrated by this since we first raised the issue. All these entities and names has made things complicated. So just to re-cap. AMC will have 25m shares and out of those shares 10m will be held by investors (AM shares) and 15m will be held by management. Where does VMC come into play? Where is VMC in this whole mess? We should only be referring to one company which is AMC and ActiveMining which is the called that just purely for to label 40% of AMC. Am i on point here? Once again can someone clarify where VMC is in this structure?

Are the current AMC shares on Bitfunder and bcto also to be included in the 0.0025 dividend payment (reimbursed investment)? I'm guessing they will be after I have exchanged them for AM shares?

No man, forget about VMC. Everyone will own AM shares that represent the profits of everything as a whole. VMC is just something that Active Mining Corporation owns 100%, and you as a shareholder will own a part of the profits of Active Mining Corporation with everything included.