Topic: [AMC]-The Official Active Mining Cooperative Discussion - page 30. (Read 223316 times)

Just to make sure it is 100% clear. Since the VMC name is still being tossed into the offering is this how the structure looks?

          AMC
|-------^--------|
AM                  VMC           **ACTIVE MINING REPRESENTS A VIRTUAL ID SO THE 40% OF THE SHARES HAVE A NAME & VMC REPRESENTS THE OWNER(S) MANAGEMENT
40%                 60%
10M                 15M

I just want to make sure for myself and for the rest of the community. Thanks.

It could be better defined in a contract, to clarify it what it means exactly

Thanks Ken, the offer looks much more reasonable and clear now, should boost confidence of investors.

Now we are definitely getting back on track and heading in the right direction. Can we also include information in regards to voting rights and the board of directors for AMC. Would just like to see clarification and things in writing to further avoid any confusion in regards to this issue.

**This is a copy and paste from the original offering below**

VMC will provide a method for shareholders to vote.  The method will provide that only shareholders can vote
and shareholders will only have 1 vote for each share that is held.  Any motion to bring a vote before the
shareholders will require 10% of the shareholders votes on a petition with 1 vote for each share held.
VMC will provide a method for motions should the need arise, if the exchange does not provide a method.
VMC will be run by a 7 member board of directors, the board of directors will be elected within three months
of the initial IPO of VMC.  The board of directors shall adopt a set of by-laws within the first 6 months.
Until the first board of directors are elected, the current management of VMC, Delaware will manage VMC Belize.  

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

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 3 7/5/13

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

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. 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 3 7/5/13

I think this contract nails it down for me. Great work Ken & community. What a great time to see cheap bitcoins AND low priced AMC shares on BitFunder! Great time to be an AMC bull.

The "virtual identity" is just for having a name to call the shares that represent the profits of "Active Mining Corporation".

virtual identity. after all those offshore companies in Delaware, Belize, etc. we have the ned with virtual identity... no laws, no jurisdiction, only good word. But I am in from the beginning, so it is not time to run out 

+1

I have to agree, this is much better!  Ken get this thing rolling!  Thanks for the hard work

Yes, it started to be too complicated but now it's much much simpler, as there's only one company (Active Mining Corporation that owns everything).

I'm in as always, but watching BTC value slide down is tempting me to temporarily let go of my stock and try and sell BTC with the aim of buying back in a few days... then buying back AMC. I'm sure by then AMC will have risen yet again, cancelling out any small gains I made.

What's complicated? At this stage it is decision time, you are either in or out. If you don't like the deal sell or walk away.

started to be too complicated, usually i prefer easy business, 1 company, 1 profit

Yep, this does it for me! 

This is getting better by the day.

Thank you for the perseverance.

Well... I can't figure out how it can get any better than this guys!

The fact Ken isn't receiving any dividends on his shares until the public shares get a whooping 0.0025/share in dividends should really stop all the FUD!

My hat is off to you sir!

(This Is For Community Review Only)

The Final Offering May Be DIFFERENT

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

Version 2 7/5/13

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

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). 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. 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 2 7/5/13

+1 Looking good....

That's how I see it as well. I'm ok with the proposed structure.