Topic: [AMC]-The Official Active Mining Cooperative Discussion - page 56. (Read 223316 times)

I would be up for coming out next Saturday.  I'd like to be able to do it this weekend, but my wife and I have already made plans, with the 4th coming up and all.  I'll be looking forward to meeting you.  Let's see if we can get babefoot on board for that.

Thanks for that Ken, and yes I think its important for us to come up with a realistic plan of what we expect at this stage as well as the questions to be asked. I think the meet up plan should be fleshed out first, then we can start nominating individuals and setting up dates.

Once you have more of a complete operation in place I would also very much appreciate a visit. I know I have been especially tough on the corporate structure, pricing and revenue goals but when the smoke settles if you would allow me I would be happy to swing by and say hi.

Would love to meet up with both of you.  I will buy lunch and then we can go over and look at our new manufacturing site.  However, we are just getting started
putting together the manufacturing line, so there is not really that much to see at this point.  You would see that we do have a site rented, and that we are setting up
the office, getting security in place.  Also, we are starting to get in an inventory of cases and power supplies.  Just let me know when you want to do this.

I would be willing to pitch in for the trip if a few members nearby wanted to take the trip to Ken and address some of the issues that the shareholders have pointed out and come back with a resolution to these issues and changes made to the original agreement. Ken said he would be more than happy to make changes if necessary. If we can get some sort of a balanced agreement between Ken and the shareholders it would be well worth the trip. If the conditions and terms don't change then we will still be stuck where we are now.

Hi lewicki, and thanks for addressing some of my points. Responses below.


So if they will never be sold, why have them in the first place? I don't get that.  


My main question hasn't been answered yet. Of the 40 million shares issued, how many have been sold? And are those unsold shares receiving dividends? If there are only 20 million on at the moment, the dividend doesn't match up.

Additionally, a company should know what its going to do with any money raised. Whether that it having pre-contracts in place, alternative plans if those fail, incentives to equipment suppliers etc to support the business.


Well I get that, but normally a company uses a portion of its shares for reinvestment, while another portion goes to dividends. If those 20 million unsold shares are receiving dividends, it's like the company is paying itself, which isn't good accounting practice (from my limited reading). For example, Steve Jobs owned shares in Apple, but Apple itself never owned Apple shares.


Again, only addressing part of the question. If Ken is not making any money on this at the moment, why not? I'm not asking for a detailed financial history, but I can't understand why someone would be working for free on this.

It is risky, but I don't see how this is building trust. In fact, it's something just convenient to hide behind.

Avalon has started shipping their bulk chip orders - or at least soon will be.

20,000 avalon chips are due to arrive during August. Sometime this month Ken should be revealing the Avalon board prototype to run those chips.

Yep, absolutely. Meet around the corner from Ken's office, then travel there together. I'll happily pay gas x 2.

Edit: as long as babefoot is ok with this. I don't want anyone to feel they are being railroaded into something they are not comfortable with.

I would be okay with this.  Of course we would need to meet up at Springfield, seeing as I would be coming from Arkansas and he/she would be coming from OK.

Sorry, but I must have missed something important throughout all the FUD, but can you tell me specifically what is supposedly going down in August?  Is this when the first round of chips are expected to start arriving?  I agree though with your assessment that the secrecy is somewhat a necessary evil.  It's quite possible that there is something even bigger than what was recently announced lying in the details of what eASIC is holding onto.  I'm willing to wait and see how this pans out at the end of the day, but I can say with confidence that I won't be putting more money in until things appear a little more concrete.

How about Soylent and babefoot both go at the same time? They could hook up, drive to Ken's and ask our questions/take a few snaps. I mean this scam conspiracy is going to have to be pretty sophisticated, along the lines of the best out takes from the last Mission Impossible movie, for people to claim this is part of the con.

Ken mentioned that he was considering releasing an IPO for VMC to get funding. The money from AMC gets directly passed through VMC to eASIC to pay for the chips. VMC will be supplied with money from VMC going public or Ken's own money.

60 million of those shares will never be sold. only 20m at the moment and 40m total will eventually be  on the "market". ASICminer sold their IPO shares for .1 BTC correct? .1BTCx400,000=40,000BTC.

Why raise money that AMC did not know if they could use. The receieved good news on the eASIC chip, then released shares to raise fund for chip production. putting the cart before the horse is not a good idea usually.


40m shares issued at the moment, 40 million are recieving dividends. 20m shares gurantees profits are being used to update hardware, etc. Every company needs to reinvest profits to keep up int he world.


Show of good faith probably. Regardless, I'm satisfied with that decision.

This is how it works. It's risky (I'm not saying it isn't). You have to build trust to gain it. Avalons have arrive, people ahve called easic and confirmed they are under NDA with AMC. We will see what happens when August rolls around.

I've been thinking about this, and unfortunately I don't see a true solution. Maybe if you swore in a priest?

But seriously, everything that can be done can be simply shot down with 'well you thought we would ask that so you planned it'. I think it might have to just be a case where enough evidence is provided so that unless you wear a tin foil hat you are reasonably satisfied...

Unfortunately, we can't.  These are just the ebbs and flows of the forum.

this is one big mess of a company and it's "shareholders"

How do we overcome the issue that whoever visits Ken and reports back will be accused of being in cahoots?

I would be happy to meet with you, if you drive over.