What do we really know about AMC? - page 2.

LorenzoMoney

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Quote from: burnside on June 03, 2013, 01:41:01 AM

Doh.

Quote

REPUBLIC OF VANUATU
INTERNATIONAL COMPANIES ACT
NO. 32 OF 1992

...

RESITRICTIONS ON INTERNATIONAL COMPANIES
10. (1) An international company shall not:-
  (a) carry on business in Vanuatu;
  (b) acquire or own an interest in immovable property situate in
   Vanuatu other than a lease referred to in subsection (2)(b);
  (c) carry on banking business as defined by the Banking Act [Cap. 63]
  (d) carry on trust business as defined by the Trust companies Act [Cap.69];
  (e) carry on insurance business as defined by the Insurance Act [Cap. 82];
   or
  (f) carry on company management business;
  (g) at any time have less than one member;
  (h) make any invitation to the public to –
   (i) subscribe for any shares or debentures in the company; or
   (ii) deposit money with or lend money to the company.

I did find it amusing that they misspelled RESTRICTIONS in their document. Wink

Yes, maybe I am naive, but what if Ken/AMC succeeds in getting delivery of those ASIC chips? What if he does use the money raised by offering shares to hire a good technical team and actually gets those mining rigs up and running? Yes, I agree that he did some things in a sloppy way, and tends to some hyperbole, but so far, I do not see any evidence of outright fraud, only lack of some transparency. And yes, I am an adult who took a risk by investing with AMC. But, all of the people who invested in AMC, (I hope) are aware of the risks involved in any and all Bitcoin ventures. I am curious why those who have no horse in this race seem obligated to save and educate those of us either stupid enough or who like gambling or are willing to take risks?

burnside

legendary

Activity: 1106

Merit: 1006

Lead Blockchain Developer

Doh.

Quote

REPUBLIC OF VANUATU
INTERNATIONAL COMPANIES ACT
NO. 32 OF 1992

...

RESITRICTIONS ON INTERNATIONAL COMPANIES
10. (1) An international company shall not:-
  (a) carry on business in Vanuatu;
  (b) acquire or own an interest in immovable property situate in
   Vanuatu other than a lease referred to in subsection (2)(b);
  (c) carry on banking business as defined by the Banking Act [Cap. 63]
  (d) carry on trust business as defined by the Trust companies Act [Cap.69];
  (e) carry on insurance business as defined by the Insurance Act [Cap. 82];
   or
  (f) carry on company management business;
  (g) at any time have less than one member;
  (h) make any invitation to the public to –
   (i) subscribe for any shares or debentures in the company; or
   (ii) deposit money with or lend money to the company.

I did find it amusing that they misspelled RESTRICTIONS in their document. Wink

burnside

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Activity: 1106

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Lead Blockchain Developer

Quote from: kslaughter on June 02, 2013, 07:59:26 PM

Quote from: burnside on June 02, 2013, 07:14:36 PM

Quote from: kslaughter on June 01, 2013, 04:57:35 PM

Quote from: MSantori on May 31, 2013, 11:42:55 PM

kslaughter: I'm interested to hear what is your view on the extent to which AMC is subject to the securities laws a US entity. Specifically, it's issuance of what seem to be equity investments denominated in BTC.

AMC has now been spun off as a foreign entity on a foreign exchange. We have also posted a PPM on bitfunder.

Where did you incorporate? Where is the exchange incorporated?

Cheers

Burnside, like you told me, figure it out yourself. The stock exchange is on a RIPE address when you do a traceroute.

Indeed, in case you forgot, last time you were asking when it is clearly stated in the footer of every page of our site. A courtesy not extended anywhere that I can find on virtualminingcorp.com. Not here: http://www.virtualminingcorp.com/about.html ... not here: http://www.virtualminingcorp.com/contact.html (which plants a flag somewhere in Missouri) ... Not on the official thread: https://bitcointalksearch.org/topic/amc-the-official-active-mining-cooperative-discussion-158806 ... surely I'm missing something. And ahhh, ok, I found Vanuatu on the Bitfunder Details page. That was a fun game. Roll Eyes

Regarding Bitfunder, I'd expect an old ISP guy like yourself to know the difference between country of incorporation and choice of hosting locale. Not to mention the complexity adding Cloudflare up front adds. So I can trace it to a Cloudflare POP, what does that buy me? I was curious, because I don't think they say anything anywhere on their site either. I'll ping Ukyo later I guess.

Cheers.

iCEBREAKER

legendary

Activity: 2156

Merit: 1072

Crypto is the separation of Power and State.

Quote

What do we really know about AMC?

Any sheep who give you money deserve the shearing they will get. But shame on Bitfunder for allowing it.

we know AMC has ordered 7 Avalon boxes and 20,000 Avalon chips.

Please man up and take your FUD to a Scam Accusation thread, if you're so sure the facts are on your side.

Entropy-uc

hero member

Activity: 756

Merit: 501

Quote from: kslaughter on June 02, 2013, 07:59:26 PM

Quote from: burnside on June 02, 2013, 07:14:36 PM

Quote from: kslaughter on June 01, 2013, 04:57:35 PM

Quote from: MSantori on May 31, 2013, 11:42:55 PM

kslaughter: I'm interested to hear what is your view on the extent to which AMC is subject to the securities laws a US entity. Specifically, it's issuance of what seem to be equity investments denominated in BTC.

AMC has now been spun off as a foreign entity on a foreign exchange. We have also posted a PPM on bitfunder.

Where did you incorporate? Where is the exchange incorporated?

Cheers

Burnside, like you told me, figure it out yourself. The stock exchange is on a RIPE address when you do a traceroute.

Great transparency for a guy trying to raise money from the public.

Any sheep who give you money deserve the shearing they will get. But shame on Bitfunder for allowing it.

kslaughter

sr. member

Activity: 476

Merit: 250

Quote from: burnside on June 02, 2013, 07:14:36 PM

Quote from: kslaughter on June 01, 2013, 04:57:35 PM

Quote from: MSantori on May 31, 2013, 11:42:55 PM

kslaughter: I'm interested to hear what is your view on the extent to which AMC is subject to the securities laws a US entity. Specifically, it's issuance of what seem to be equity investments denominated in BTC.

AMC has now been spun off as a foreign entity on a foreign exchange. We have also posted a PPM on bitfunder.

Where did you incorporate? Where is the exchange incorporated?

Cheers

Burnside, like you told me, figure it out yourself. The stock exchange is on a RIPE address when you do a traceroute.

burnside

legendary

Activity: 1106

Merit: 1006

Lead Blockchain Developer

Quote from: kslaughter on June 01, 2013, 04:57:35 PM

Quote from: MSantori on May 31, 2013, 11:42:55 PM

kslaughter: I'm interested to hear what is your view on the extent to which AMC is subject to the securities laws a US entity. Specifically, it's issuance of what seem to be equity investments denominated in BTC.

AMC has now been spun off as a foreign entity on a foreign exchange. We have also posted a PPM on bitfunder.

Where did you incorporate? Where is the exchange incorporated?

Cheers

kslaughter

sr. member

Activity: 476

Merit: 250

Quote from: MSantori on June 02, 2013, 12:27:10 AM

As is often the case, answers lead to more questions, but I won't flood the thread with them. Best of luck!

Thanks.

MSantori

full member

Activity: 168

Merit: 100

As is often the case, answers lead to more questions, but I won't flood the thread with them. Best of luck!

kslaughter

sr. member

Activity: 476

Merit: 250

Quote from: MSantori on May 31, 2013, 11:42:55 PM

kslaughter: I'm interested to hear what is your view on the extent to which AMC is subject to the securities laws a US entity. Specifically, it's issuance of what seem to be equity investments denominated in BTC.

AMC has now been spun off as a foreign entity on a foreign exchange. We have also posted a PPM on bitfunder.

MSantori

full member

Activity: 168

Merit: 100

kslaughter: I'm interested to hear what is your view on the extent to which AMC is subject to the securities laws a US entity. Specifically, it's issuance of what seem to be equity investments denominated in BTC.

kslaughter

sr. member

Activity: 476

Merit: 250

Quote from: hak8or on May 30, 2013, 05:18:42 PM

Out of interest, since now the public is the majority shareholder as Kslaughter only owns 40% of the company, can't the majority shareholders other than Ksluaghter get together and force more public disclosure? Going off on the deep end, since Kslaughter is no longer the majority shareholder, theoretically, if all the remaining shareholders get together and work together, can they vote out Kslaughter and take control of his company?

That would be nice, then I could have some time to get some real work done, instead of fighting fires here on bitcointalk. Seriously, since you brought it up, I am going to be setting up a 9 director board to govern the cooperative. 1 share = 1 vote.

hak8or

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Out of interest, since now the public is the majority shareholder as Kslaughter only owns 40% of the company, can't the majority shareholders other than Ksluaghter get together and force more public disclosure? Going off on the deep end, since Kslaughter is no longer the majority shareholder, theoretically, if all the remaining shareholders get together and work together, can they vote out Kslaughter and take control of his company?

hf

member

Activity: 98

Merit: 10

there will be no fucking vegetables

Quote from: hf on May 28, 2013, 04:27:14 PM

Ok, did some research right now :
I found VMC here : https://delecorp.delaware.gov/tin/GINameSearch.jsp enter file number : 5324096

And if you whois virtualminingcorp.com , you'll find "Kenneth Slaughter" and the address of a house somewhere in Springfield, MO, which is consistant with all the press releases[1] starting with "SPRINGFIELD, MO"

[1] tab "news" on https://bitfunder.com/asset/AMC

Quote from: SpaceProphet on May 30, 2013, 11:54:12 AM

Does AMC/VMC also have an outpost in San Jose, CA?

Never heard about this.

Quote from: drdanishkhan on May 30, 2013, 11:57:53 AM

What percentage of shares are you keeping to yourself and will those shares be entitled to the dividents??

Quote from: kslaughter on May 30, 2013, 03:42:00 PM

I own 40% of the company, or 40 million shares. These 40 million shares do not receive dividends until the total dividends paid is .0005 per share and 12 months have elapsed from the date of the IPO May 1, 2013. I have invested the 6 Avalon's which are paid for. I am continuing to invest my time and talent developing AMC's IP which will bring the investors a 10% royalty on machines VMC sells with AMC technology. The dividends are divided between the 40,000,000 issued shares of which 20,000,000 shares are in the growth and expansion fund. This fund is used to purchase more mining machines from VMC or others. AMC will receive dividends from unsold shares which will be used to purchase more mining machines, R & D, direct mining expenses, etc.

drdanishkhan

full member

Activity: 140

Merit: 100

why dont you reply here buddy..

What percentage of shares are you keeping to yourself and will those shares be entitled to the dividents??

SpaceProphet

newbie

Activity: 31

Merit: 0

Ken,

Does AMC/VMC also have an outpost in San Jose, CA?

kslaughter

sr. member

Activity: 476

Merit: 250

Quote from: chsados on May 27, 2013, 05:28:18 PM

What are your feelings on AMC? Granted, I only briefly browsed the massive thread - but what do we really know about the owners?

- Who owns it?
- Where are they located?
- When do they expect to start mining?
ETC

Kenneth E. Slaughter, CEO
Virtual Mining Corporation
www.virtualminingcorp.com
+1 (855) One-Bitcoin (663-2482) X700
Springfield, Missouri

As soon as the 6 Avalon's are received. When I talked with Yifu at Bitcoin 2013, he indicated that they would be shipping batch 2 in about 2 weeks.

chsados

hero member

Activity: 662

Merit: 545

What are your feelings on AMC? Granted, I only briefly browsed the massive thread - but what do we really know about the owners?

- Who owns it?
- Where are they located?
- When do they expect to start mining?
ETC

Topic: What do we really know about AMC? - page 2. (Read 6112 times)