Topic: [AMC]-The Official Active Mining Cooperative Discussion - page 52. (Read 223316 times)

Can't change the description, it is a contract and their are not provisions in the contract to change it.

Can't change the description, it is a contract and their are not provisions in the contract to change it.

Can't change the description, it is a contract and their are not provisions in the contract to change it.

New Section 5 in the FAQ's

5) So, how can AMC be valued since shares do not directly represent ownership, but profits?
You can use a simple conversion for it: [#investor's_shares * current_price], with [1 - #investor's_shares/40M] (%) of dividends being kept for reinvestment.
Using current values (2nd July 2013), there are ~6M shares sold to investors and ~34M in the growth/expansion fund. At a price of 0.001, AMC is valued at 6M*0.001 = BTC6000, with 1-6/40 = 85% of dividends being kept for reinvestment.

Ok, that's the first step, you acknowledge that one company can be done.

The second point, that the description of the offering of AMC makes it impossible to do ... well ... change the description!!

This thread of FULL of posts from real shareholders, such as myself, asking you to change it and fix the whole AMC/VMC debacle.

It CAN be done, and it SHOULD be done.


Edit: by the way, something you should keep in mind. The people who are going to buy the asic miners from what you think is VMC, will NOT buy them with this whole AMC/VMC drama happening. So while you may want to keep VMC separate so that you can profit off two companies, you alienate the very customers who would have bought them. You need to:
- combine AMC/VMC and remove all the problems that its causing
- sell chips, miners etc through AMC
- and build trust in AMC, the brand
- THEN bitcoin miners will be a) invest in AMC and b) buy mining rigs from AMC
(none of the above will happen with AMC and VMC being separate and all these dramas going on)

Let me just ask you  a simple question.  How would AMC sells chips itself?  Explain to me how that would be done?

I am not saying that it can't be done.  I am saying that the description of the offering of AMC makes it impossible to do.

Obviously you will have to do everything you just outlined at some point in order to get VMC to sell the chips, right? Why not just call VMC AMC's hardware division and merge the 2 companies into AMC?

The general feeling I am getting is that most people including myself are getting past the "AMC might be a scam" point to more of a "The way Kenneth Slaughter has set these 2 companies up is not optimal for the shareholder" viewpoint.

Third, why does AMC need VMC to re-sell its chips in bulk? Why can't AMC handle that itself? So, you bulk-sell chips to VMC, VMC sells them on, AMC gets 70% of the profits, VMC 30%? Why do it like that? Why  not just have AMC/VMC together, AMC sells the chips and it receives 100% of the profits from these sales?

Let me just ask you  a simple question.  How would AMC sells chips itself?  Explain to me how that would be done?

Here is why AMC can not sell the chips.  There are no provisions for employees, unless you hire 4 at the same time.  There are no provisions for any kind of sales expenses one you hire the 4 employees.  There are no provisions for any kinda of hosting services.  There are no provisions for hiring someone to develop a website to sell the chips.  Even if you hired the 4 employees, the expenses are limited to a 10% maximum.  So please tell me how this would be done.

Here is why AMC can not sell the chips.  There are no provisions for employees, unless you hire 4 at the same time.  There are no provisions for any kind of sales expenses one you hire the 4 employees.  There are no provisions for any kinda of hosting services.  There are no provisions for hiring someone to develop a website to sell the chips.  Even if you hired the 4 employees, the expenses are limited to a 10% maximum.  So please tell me how this would be done.

Cool, you posted that 7 seconds before my post above

You are making everything way too complicated.

How is ASICMINER able to do everything under one company? But somehow, you think it's an impossibility

Here is why AMC can not sell the chips.  There are no provisions for employees, unless you hire 4 at the same time.  There are no provisions for any kind of sales expenses one you hire the 4 employees.  There are no provisions for any kinda of hosting services.  There are no provisions for hiring someone to develop a website to sell the chips.  Even if you hired the 4 employees, the expenses are limited to a 10% maximum.  So please tell me how this would be done.

Jesus this is complicated... First off, why not just merge the companies, rather than messing around with something like this convoluted set up?

Second off, how is VMC funded? Where does it get its cashflow from?

Third, why does AMC need VMC to re-sell its chips in bulk? Why can't AMC handle that itself? So, you bulk-sell chips to VMC, VMC sells them on, AMC gets 70% of the profits, VMC 30%? Why do it like that? Why  not just have AMC/VMC together, AMC sells the chips and it receives 100% of the profits from these sales?

Fourth, AMC sells chips to VMC, VMC then makes full mining systems (I'm guessing like the jalapenos etc), VMC then sells them on? I get the 10% royalty fee, but where does the other 90% go to? To VMC? And that's owned by who? So AMC does all the heavy lifting, sells its chips for a fee (presumably all of that profit goes 100% to AMC), and then basically only gets 10% royalty fee for something they could sell themselves for 100BTC and get 100% of the profit? You can see why that kind of sucks. 

Ugh, my head hurts trying to filter through all the BS, FUD, techno-babble and nonsense in this thread, just to get at some proper bloody answers. I should be entirely open and say that I have invested in this company, but I'm doing my 'due diligence' after the fact, so shame on me perhaps, but nevertheless, there are some serious gaps here that need addressed asap, preferably in a easy to digest summary. I often get the feeling that in anything bitcoin related, people hide behind the razzle-dazzle of vocabulary and jargon. K.I.S.S.

eASIC----------->AMC-------------->Potential Chip Buyer

Did I miss something? 

I'm not trying to be cute, but Swede actually posed a fairly valid question.  We've almost got him over onto our side Ken!  Just answer the man's question! LOL

Let me just ask you  a simple question.  How would AMC sells chips itself?  Explain to me how that would be done?

Third, why does AMC need VMC to re-sell its chips in bulk? Why can't AMC handle that itself? So, you bulk-sell chips to VMC, VMC sells them on, AMC gets 70% of the profits, VMC 30%? Why do it like that? Why  not just have AMC/VMC together, AMC sells the chips and it receives 100% of the profits from these sales?

Something tells me that he might be buying a few shares at the moment.

OMG! LMFAO! Swede is going long!