Topic: [AMC]-The Official Active Mining Cooperative Discussion - page 31. (Read 223316 times)

Doesn't ASICMINER look like this?

     ASICMINER
    ------^-------
    |                |
 Public     Bitfountain
Shares    (managers)


In which case, no one needs to worry about Bitfountain - they do their own thing (ie. own majority shares, and manage asicminer)?

Then ALL income belongs to ASICMINER, and profits are distributed. Simple

Ken has it so that everything is intertwined, 10% royalties, different company mining, to different company doing hardware and sales and blah blah.

Stop making this complex.

Below is the structure as it should be as done by auto2nr1, nice and simple.


Then all revenue goes to 'Entity Name', and it ditributes profit to share holders (40% / 60%)

Then, Ken's salary and whatever else should be his own business, coming out of the 60% - that's his pay. This is what ASICMINER does I believe.

I don't get it, does it look like this now?

    AMC
  ---^---
  |       |
 AM   VMC

AMC owns a 100% VMC, and owns 60% of AM?

Why the confusion? Bitfountain also holds ASICMINER in the same way.

In the example above, AMC (in Belize) owns VMC Delaware (the management owned part) and ActiveMiner (the public owned part). The parent company has to be outside of US, for avoiding legal troubles.

No, bitfountain has shares in asicminer.  Just as Joe off the street does.

This is 3 companies, with what correlation?

Legal troubles?  What part of everything here is legal?

**STRUCTURE**

   ENTITY NAME
   -----^-----
  |               |
 40%          60%
PUBLIC       MGMT
OWNED      OWNED

40% of the shares will be sold to the public (10m shares)
60% of the shares will be held privately by management (15m shares)

Why the confusion? Bitfountain also holds ASICMINER in the same way.

In the example above, AMC (in Belize) owns VMC Delaware (the management owned part) and ActiveMiner (the public owned part). The parent company has to be outside of US, for avoiding legal troubles.

+1

One company is what we should go for. Within that one company we can call the 40% division/department ACTIVE MINING and we can just call the 60% division/department VMC (management). This is strictly just to distinguish the split between 40% and 60%. The name doesn't really matter we can call the 40% just INVESTORS and the 60% MANAGEMENT. The important thing is for shareholders and potential investors to know they are putting their money into ONE company. No confusion. Plain and simple.

You expect them to produce 3 monthly reports? AMC as a holding co. and one for AM and for VMC?

I personally like if it's all in one Co and has 2 "departments" but they all report as one. In the real world, I do not mind but there are mechanisms to keep this stuff in check. Guess what, regardless of strict rules and regulations, subsidiaries are still used to milk the parent co and fuck over the shareholders or vs.  
Thank you but no thanks.

Why the confusion? Bitfountain also holds ASICMINER in the same way.

In the example above, AMC (in Belize) owns VMC Delaware (the management owned part) and ActiveMiner (the public owned part). The parent company has to be outside of US, for avoiding legal troubles.

Why the confusion? Bitfountain also holds ASICMINER in the same way.

In the example above, AMC (in Belize) owns VMC Delaware (the management owned part) and ActiveMiner (the public owned part). The parent company has to be outside of US, for avoiding legal troubles.

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)

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

Introduction
ActiveMining (AM) is a virtual identity totally held by the owner(s) of the Active Mining Corporation, representing 100% of the whole net income of the Active Mining Corporation. 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 whole net income), while Active Mining Corporation owner(s) shall hold 15,000,000 AM shares (60% of the whole net income), for a total of 25,000,000 AM virtual shares. ActiveMining shares have the privilege of getting all net profits until 0.0025/share 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 AM assets (tangible and intangible) per 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, 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 whole Active Mining Corporation's income, including mining income, sales via bitcoins or other cryptocoins and fiat income transferred to bitcoins, will be paid to ActiveMining shareholders proportionally, when all manufacturing, maintenance, labor costs, R&D, and miscellaneous expenses are deducted.

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 hashs per cycle. Chip requires proper handling of heat and power supply.

I don't get it, does it look like this now?

    AMC
  ---^---
  |       |
 AM   VMC

AMC owns a 100% VMC, and owns 60% of AM?

and btw, any salary paid is a expense and this will reduce the net income, that is used to calculate the dividends.
People holding priv distributed shares are no different form people holding publicly traded shares unless there are some special conditions set.

Only question I have is how do the people that run the company get paid if the shares held by the company take no dividend?
Do they just get a flat fee off the top?

I have to agree with previous posts and like to add something to it


Yes, this is clean and there is no need for wholly owned subsidiary stuff at all.
AMC or VMC will absorb the other and be done with it. Lets call it XYZ for now.

Now, because there are publicly traded shares and privately held shares, there has to be a clean and transparent way to split the new XYZ shares 60:40.
One way to do it is to list all shares (100%) and move 60% of priv stuff to special accounts, that are locked and can not trade (must be in the contract) but receive the divs, can vote etc.

Any shares on issuers account (XYZ) are considered treasury stock and do not receive any dividends nor can be used for voting. Btct.co has this mechanism in place and it works too.
Any shares bought back by XYZ, will become automatically treasury stock and lose all the rights to vote or receive dividends.

Now you/we can be sure, that divs are distributed correctly, there is no question about votes, there is no confusion about treasury stock or priv held shares etc.

If priv. accounts are locked down, there will be none of those "but I sold someone else shares blaa blaa " that happened in SDICE saga.

What about shareholders equity? In the real world, every coin received from selling shares becomes a shareholders equity.

What about those privately held shares? Are they paying anything for the shares they receive?

Ok, last I heard they only had 3, I see their account is doing 425GH/s on btc guild.

When will they start paying divs for the full 100m?

6 Avalon machines mining and dividens being paid to 40 million shares, not the whole 100 millions shares, as stated repeteadly in this thread and the IPO. So it is more like 10BTC a day, totally makeable at the current network dificulty with that equipment.

Yes, this way it will be a carbon copy of asicminer, but with the difference that shares can be diluted.

I'm not against Ken, the simpler it is, then everybody can make an informed choice.  The more complicated Ken tries to make it, the more it looks like the scam - until this is fixed, I still smell scam.

Finally, nobody has any idea where the 20BTC a day comes from?  I want to know so that he's not doing a Ponzi.

Yes, this way it will be a carbon copy of asicminer, but with the difference that shares can be diluted.

I'm not against Ken, the simpler it is, then everybody can make an informed choice.  The more complicated Ken tries to make it, the more it looks like the scam - until this is fixed, I still smell scam.

Finally, nobody has any idea where the 20BTC a day comes from?  I want to know so that he's not doing a Ponzi.

I like it. I think that going to one company (in lieu of the subsidiary type arrangement that was proposed) will make the whole process easier for shareholders to see whats happening.