[AMC]-The Official Active Mining Cooperative Discussion - page 34.

kslaughter

sr. member

Activity: 476

Merit: 250

Quote from: JimmyJazz on July 04, 2013, 03:03:40 PM

Thank you for clearing up the dividend issue.

Would just like to say that I am an investor in AMC and have been a long time lurker on the board. I am happy that the slander being posted over the weekend has gone and we can now look forward to helping grow the project.

All the best.

I have been a lurker from 2009 until March 2013, registered in 2010 and did 2 post, so I know where you are coming from. Well, things are starting to come around, we are doing exactly what we said we would and we will continue to do that. After a while it gets harder and harder for the slanders to come up with anything.

EskimoBob

legendary

Activity: 910

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Quality Printing Services by Federal Reserve Bank

Quote from: kslaughter on July 04, 2013, 02:02:20 PM

Quote from: JimmyJazz on July 04, 2013, 01:59:13 PM

Quote from: kslaughter on July 04, 2013, 11:29:31 AM

Quote from: auto2nr1 on July 04, 2013, 10:28:39 AM

Quote from: Vbs on July 04, 2013, 04:23:52 AM

Quote from: hf on July 04, 2013, 04:18:26 AM

Yep, thanks for the explaination, this is most certainly the reason.

btct : 2013-07-04 00:47 ฿ 2.78000000 511867 0.00000543 COMPLETE

Only the 511867 sold shares got their divs.

Yep, he must have thought it would be ฿2.78/2,000,000 = 0.00000139, but it turned out to be ฿2.78/511,867 = 0.00000543. Maybe Ken can issue a special ฿0.00000404 dividend on BF to cover this? Thoughts?

Yes, Ken should definitely cover us for this. This was one of the issues that were addressed. So the past 5 dividend payouts from BitFunder has been wrong.

No, the BF dividends are right.

So I am to receive less just because I hold my shares on Bitfunder?

No, It was a mistake, and BTC-TC shares got overpaid. This will be corrected in the future, however we are not taking back the dividends that where overpaid to
BTC-TC shareholders.

How many shares have you sold via IPO?

JimmyJazz

full member

Activity: 207

Merit: 100

Thank you for clearing up the dividend issue.

Would just like to say that I am an investor in AMC and have been a long time lurker on the board. I am happy that the slander being posted over the weekend has gone and we can now look forward to helping grow the project.

All the best.

lolstate

full member

Activity: 196

Merit: 100

Quote from: Surprise on July 04, 2013, 01:57:12 PM

Thanks for clearing things up Ken. I think this merger will work out fine for me and my options. I also appreciate the ability to invest in AMC or VMC depending on my opinions of the value of hardware selling or snowballing mining power.

Ah, ok, now I have thought it through, you should be fine. AMC shares will still be listed come your Expiry Date and the AMC stock price should trend as you originally expected (or better Wink

) because AMC continues to earn from mining despite the new plan to launch a public VMC. If you exercise your options, you likely then choose to swap AMC for VMC, because we obviously expect VMC shares will be more valuable.

kslaughter

sr. member

Activity: 476

Merit: 250

Quote from: JimmyJazz on July 04, 2013, 01:59:13 PM

Quote from: kslaughter on July 04, 2013, 11:29:31 AM

Quote from: auto2nr1 on July 04, 2013, 10:28:39 AM

Quote from: Vbs on July 04, 2013, 04:23:52 AM

Quote from: hf on July 04, 2013, 04:18:26 AM

Yep, thanks for the explaination, this is most certainly the reason.

btct : 2013-07-04 00:47 ฿ 2.78000000 511867 0.00000543 COMPLETE

Only the 511867 sold shares got their divs.

Yep, he must have thought it would be ฿2.78/2,000,000 = 0.00000139, but it turned out to be ฿2.78/511,867 = 0.00000543. Maybe Ken can issue a special ฿0.00000404 dividend on BF to cover this? Thoughts?

Yes, Ken should definitely cover us for this. This was one of the issues that were addressed. So the past 5 dividend payouts from BitFunder has been wrong.

No, the BF dividends are right.

So I am to receive less just because I hold my shares on Bitfunder?

No, It was a mistake, and BTC-TC shares got overpaid. This will be corrected in the future, however we are not taking back the dividends that where overpaid to
BTC-TC shareholders.

JimmyJazz

full member

Activity: 207

Merit: 100

Quote from: kslaughter on July 04, 2013, 11:29:31 AM

Quote from: auto2nr1 on July 04, 2013, 10:28:39 AM

Quote from: Vbs on July 04, 2013, 04:23:52 AM

Quote from: hf on July 04, 2013, 04:18:26 AM

Yep, thanks for the explaination, this is most certainly the reason.

btct : 2013-07-04 00:47 ฿ 2.78000000 511867 0.00000543 COMPLETE

Only the 511867 sold shares got their divs.

Yep, he must have thought it would be ฿2.78/2,000,000 = 0.00000139, but it turned out to be ฿2.78/511,867 = 0.00000543. Maybe Ken can issue a special ฿0.00000404 dividend on BF to cover this? Thoughts?

Yes, Ken should definitely cover us for this. This was one of the issues that were addressed. So the past 5 dividend payouts from BitFunder has been wrong.

No, the BF dividends are right.

So I am to receive less just because I hold my shares on Bitfunder?

kslaughter

sr. member

Activity: 476

Merit: 250

Should AMC provide VMC with the NRE then AMC will receive at manufacturers
cost the first 100 Fast-Hash-One fully loaded machines. The availablity date has
been moved up to the end of October, due to the fact that using eASIC's Low Volume
Production these chips can be available in about 12 weeks.

These machines are rated at 24.576 TH/s maximum, so this would be a total of
2,457.6 TH/s. Now to get all of these machines AMC would need considerable
resources to pay for these. However, this is the maximum number and
AMC could purchase less than the maximum depending on their available
funds.

AMC will also receive 70% of the profit from bulk chips sales.

eASIC Fast Turn Around ASIC: http://www.easic.com/high-speed-transceivers-low-cost-power-fpga-nre-asic-45nm-easic-nextreme-2/easic-nextreme-2-fast-turnaround-asics-manufacturing/

Surprise

member

Activity: 77

Merit: 10

Thanks for clearing things up Ken. I think this merger will work out fine for me and my options. I also appreciate the ability to invest in AMC or VMC depending on my opinions of the value of hardware selling or snowballing mining power.

kslaughter

sr. member

Activity: 476

Merit: 250

Quote from: Surprise on July 04, 2013, 01:28:45 PM

I read the proposed offer for VMC and I believe it says VMC may buy AMC shares on the open market. I take it this will happen after the merger period if VMC views AMC as undervalued at a current market price?

Yes, that option is available to VMC, however I don't see VMC purchasing a large number of shares, as most of VMC's effort will be going into selling machines. While most of AMC's effort will be going into building its mining farm. The main reason for the swap is so that enough shares of AMC will be sold to allow VMC to pay the NRE. Of course AMC will get the NRE paid back.

Surprise

member

Activity: 77

Merit: 10

I read the proposed offer for VMC and I believe it says VMC may buy AMC shares on the open market. I take it this will happen after the merger period if VMC views AMC as undervalued at a current market price?

kslaughter

sr. member

Activity: 476

Merit: 250

Quote from: Surprise on July 04, 2013, 01:16:31 PM

Quote from: kslaughter on July 04, 2013, 01:12:54 PM

Quote from: lolstate on July 04, 2013, 01:02:51 PM

Quote from: Surprise on July 04, 2013, 12:29:07 PM

Ken - I believe this operation will be a success and I've bought a lot of 2-3 month call options to AMC shares. I'd appreciate it if you take guys like me into consideration when setting the expiration date for the AMC to VMC share swap deadline.

We need to make sure there is a way to make Surprise (and any others in this position) whole.

The first Google hit I found for what happens to an option following a stock split, is here:

http://www.investopedia.com/ask/answers/03/092103.asp

The answer might help us figure out a solution.

This is really not a stock split, it is a swap, 1 share of AMC for 1 share of VMC when approved for trading. The option owner are placing there bets and it up to them to guess right on the timing. As an option trader myself I understand their concerns.

I made the options trades before any of the merger announcements on the basis of the existing AMC description on both exchanges and previous statements from Ken on this forum. I'm concerned in 2-3 months there won't be anyone to buy my AMC shares or any way to exchange them for VMC shares. I hope I'm not going to get punished for taking Ken at his word.

I don't think that is going to happen, AMC will continue to exist for a long time to come. Even if the 10M shares where all swapped for VMC shares, AMC still has more to offer and will continue to grow. The only difference will be that some of the revenue from AMC will flow into VMC. I think it is a win for AMC and a win for VMC.

lolstate

full member

Activity: 196

Merit: 100

Quote from: kslaughter on July 04, 2013, 01:12:54 PM

This is really not a stock split, it is a swap, 1 share of AMC for 1 share of VMC when approved for trading. The option owner are placing there bets and it up to them to guess right on the timing. As an option trader myself I understand their concerns.

Sure, I'm just thinking that scenario might help us think along the correct lines. I'm wondering if it would be up to the exchange where Surprise bought the options to rule a decision on expiry date or the strike?

Edit: added ' or the strike'

Surprise

member

Activity: 77

Merit: 10

Quote from: kslaughter on July 04, 2013, 01:12:54 PM

Quote from: lolstate on July 04, 2013, 01:02:51 PM

Quote from: Surprise on July 04, 2013, 12:29:07 PM

Ken - I believe this operation will be a success and I've bought a lot of 2-3 month call options to AMC shares. I'd appreciate it if you take guys like me into consideration when setting the expiration date for the AMC to VMC share swap deadline.

We need to make sure there is a way to make Surprise (and any others in this position) whole.

The first Google hit I found for what happens to an option following a stock split, is here:

http://www.investopedia.com/ask/answers/03/092103.asp

The answer might help us figure out a solution.

This is really not a stock split, it is a swap, 1 share of AMC for 1 share of VMC when approved for trading. The option owner are placing there bets and it up to them to guess right on the timing. As an option trader myself I understand their concerns.

I made the options trades before any of the merger announcements on the basis of the existing AMC description on both exchanges and previous statements from Ken on this forum. I'm concerned in 2-3 months there won't be anyone to buy my AMC shares or any way to exchange them for VMC shares. I hope I'm not going to get punished for taking Ken at his word.

kslaughter

sr. member

Activity: 476

Merit: 250

Quote from: lolstate on July 04, 2013, 01:02:51 PM

Quote from: Surprise on July 04, 2013, 12:29:07 PM

Ken - I believe this operation will be a success and I've bought a lot of 2-3 month call options to AMC shares. I'd appreciate it if you take guys like me into consideration when setting the expiration date for the AMC to VMC share swap deadline.

We need to make sure there is a way to make Surprise (and any others in this position) whole.

The first Google hit I found for what happens to an option following a stock split, is here:

http://www.investopedia.com/ask/answers/03/092103.asp

The answer might help us figure out a solution.

This is really not a stock split, it is a swap, 1 share of AMC for 1 share of VMC when approved for trading. The option owner are placing there bets and it up to them to guess right on the timing. As an option trader myself I understand their concerns.

mtbitcoin

legendary

Activity: 876

Merit: 1000

Etherscan.io

Quote from: kslaughter on July 04, 2013, 11:27:41 AM

Quote from: VolanicEruptor on July 04, 2013, 11:12:44 AM

this issue aside, BTCT always seems to be the better choice over Bitfunder. Is there a way to transfer shares without selling and re-buying?

Yes, check the BTC-TC details, however this is not a fast process. Right now it may take 2-3 weeks to get the shares transferred, as we are
working on a number of other things.

My understanding was that you could transfer them from BTC-TC to Bitfunder and not vice versa (which the op was asking) ? And that there was a 1 BTC transfer fee?

lolstate

full member

Activity: 196

Merit: 100

Quote from: Surprise on July 04, 2013, 12:29:07 PM

Ken - I believe this operation will be a success and I've bought a lot of 2-3 month call options to AMC shares. I'd appreciate it if you take guys like me into consideration when setting the expiration date for the AMC to VMC share swap deadline.

We need to make sure there is a way to make Surprise (and any others in this position) whole.

The first Google hit I found for what happens to an option following a stock split, is here:

http://www.investopedia.com/ask/answers/03/092103.asp

The answer might help us figure out a solution.

kleeck

hero member

Activity: 532

Merit: 500

https://karatcoin.co

Quote from: Vbs on July 04, 2013, 12:24:38 PM

Quote from: kleeck on July 04, 2013, 12:20:00 PM

Quote from: chsados on July 03, 2013, 09:54:16 PM

Quote from: metalh47k on July 03, 2013, 09:36:37 PM

I have AMC-PT Shares on BTC-TC. I am reading that we need to swap them to VMC? Which hasn't started a PT on BTC-TC yet?!

Ditto.

Let's get this answered as there are many of us in this exact scenario.

There is yet no VMC or VMC-PT anywhere. The posted contract was just a draft for community review.

Quote from: kslaughter on July 03, 2013, 07:20:50 PM

[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)

(...)

Yes. This is the community raising questions for review...

Ken,
In the scenario where one owns AMC-PT shares but there is no listed VMC-PT on our exchange, (BTC.CO, in this case) what would PT share holder options be? Do you have plans to open up a VMC-PT on BTC.CO?

Thank you for your time.

Surprise

member

Activity: 77

Merit: 10

Ken - I believe this operation will be a success and I've bought a lot of 2-3 month call options to AMC shares. I'd appreciate it if you take guys like me into consideration when setting the expiration date for the AMC to VMC share swap deadline.

Vbs

hero member

Activity: 504

Merit: 500

Quote from: kleeck on July 04, 2013, 12:20:00 PM

Quote from: chsados on July 03, 2013, 09:54:16 PM

Quote from: metalh47k on July 03, 2013, 09:36:37 PM

I have AMC-PT Shares on BTC-TC. I am reading that we need to swap them to VMC? Which hasn't started a PT on BTC-TC yet?!

Ditto.

Let's get this answered as there are many of us in this exact scenario.

There is yet no VMC or VMC-PT anywhere. The posted contract was just a draft for community review.

Quote from: kslaughter on July 03, 2013, 07:20:50 PM

[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)

(...)

kleeck

hero member

Activity: 532

Merit: 500

https://karatcoin.co

Quote from: chsados on July 03, 2013, 09:54:16 PM

Quote from: metalh47k on July 03, 2013, 09:36:37 PM

I have AMC-PT Shares on BTC-TC. I am reading that we need to swap them to VMC? Which hasn't started a PT on BTC-TC yet?!

Ditto.

Let's get this answered as there are many of us in this exact scenario.

Topic: [AMC]-The Official Active Mining Cooperative Discussion - page 34. (Read 223316 times)