New image of Avalon's shopping cart with the 6 Avalon's and the chip order. Also, image of the 10,000 chip order. https://bitfunder.com/asset/AMC profile->images |
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Paid the 20$, didn't really get much more information: http://imgur.com/a/mFCyJI don't know what kind of shell companies these "The Company Corporation" are, but but they all point to the same address.. And there seems to be more of companies with the name "corporation" on them and pointing to the same address. They are old companies, which adds a bit of legitimacy, but still smells a bit fishy to me. If anyone wants to chip in, please do the detailed information request for the "The Company Corporation"s (there are two of them, all pointing to the same address). Or better yet, try calling the agent tomorrow during office hours. They could also be just companies offering company registration services and there might be nothing wrong with it. AMC: care to explain these similarly named (shell?) companies? Who owns what? Who owns the 1500 shares of VMC? Do you have anything to do with "The Company Corporation" or "Corporation Service Company" or "Corporation Financing Institute"? Disclaimer: I sold all my shares, too many gaping questions for my taste. EDIT: http://corp.delaware.gov/uccauthsrch.shtml"The Company Corporation" points to https://www.cscglobal.com/global/web/csc/delaware-ucc.html which seems legit. The Company Corporation is a service for registering companies in Delaware and provides agent services in Delaware. Delaware has the best case law for corporations and is very corporation friendly. My LP owns the shares. |
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$19,280.28 per day and a yearly amount of $5,398,450.75.
I'd be tempted to keep the machines and to mine with them rather than selling them  Hopefully the price for these things will come down a bit so I can get one myself. These are going in our mining cooperative, so we are keeping the machines not selling them. Check out AMC in my sig below. |
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Would love to know if all those options were purchased or removed? Was going in for more!
Options on AMC? Not mine. Love options. ) |
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AMC has surpassed G.ASICMINER-PT on BitFunder in terms of BTC Volume for the past 24 hours.
AMC (฿358.49454076)
G.ASICMINER-PT (฿338.54703977)
That's awesome! They say 100TH is the new ASICMINER, but it's actually AMC (100TH did about 3% of the last 24hr volume AMC has). And VMC is the new Bitfountain.  Ken, there are several mining companies looking to buy ASIC hardware. They've been burned by BFL and/or Avalon and don't trust anyone now. Are you going to approach them as potential VMC customers? They have BTC saved up and are ready to buy when they find a trustworthy source with decent prices. Yes, as soon as I get my shopping cart to work with bitcoins, I have already done this before, but the shopping cart is a new to me, so it is taking a little time. Also, so semiconductor stuff in front of doing that. I hope it will be today. |
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So from the 40 million shares only 2 million have been sold?
If that's the case, I hope they don't sell the next batches at .0005 again?
I would not count on .0005 again, I don't see that happening unless there is a crazy demand for capital. I can't rule that out, but I don't see it happening. When the Avalon's get here and start mining there is going to be an inflow of capital to AMC from the 20 Million growth and expansion fund shares. |
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kslaughter > Could you tell us how many of the 40M shares issued have been sold ?
20 Million are for the growth and expansion fund and will collect dividends to buy more mining equipment from VMC or others. This shares most likely will not be sold, check our description on bitfunder.com for details. 20 Million are "Early Adopter Shares" and the first 5 Million of those shares are being sold now. 3,036,23 remaining of the 5 Million shares of the first batch as of the writing. |
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SPRINGFIELD, MO, – May 28, 2013 – VMC a manufacturer of the Fast-Hash Bitcoin Mining Machines is announcing today that they have ordered (Order: #10409) a full batch (10,000) of Avalon chips to build ~29 Fast-Hash-80's for AMC should AMC provide the capital in the next few weeks, this would bring AMC machine total to 39 units. The 39 machines will bring the cooperatives hash power to 3,504,000 MH/s, 3,504 GH/s, or 3.504 TH/s. At the current Difficulty of 12,153,411.71 this will bring the estimated total revenue as of this writing to a total of $19,280.28 per day and a yearly amount of $5,398,450.75. AMC is a hybrid mining and development cooperative and a business unit of VMC.
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SPRINGFIELD, MO, – May 28, 2013 – VMC a manufacturer of the Fast-Hash Bitcoin Mining Machines is announcing today that they have ordered (Order: #10409) a full batch (10,000) of Avalon chips to build ~29 Fast-Hash-80's for AMC should AMC provide the capital in the next few weeks, this would bring AMC machine total to 39 units. The 39 machines will bring the cooperatives hash power to 3,504,000 MH/s, 3,504 GH/s, or 3.504 TH/s. At the current Difficulty of 12,153,411.71 this will bring the estimated total revenue as of this writing to a total of $19,280.28 per day and a yearly amount of $5,398,450.75. AMC is a hybrid mining and development cooperative and a business unit of VMC.
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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. |
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Would publishing AMC's bitcoin address add transparency since we can see proof of purchase of Avalon chips, etc.
I think it would: Here is the address we are holding bitcoins at to purchase the chips: 16yTynjmSe5bsRGykDaaCL5bm2pxiEfcqP We would like to purchase a full batch as group purchases have a commission of about 9.5% Where did the other 460BTC go? We have already made deposits to VMC for machines and they have purchased Avalon chips in steamboats batch 1. We will be posting on bitfunder a full accounting of the funds by the 15th of June for the month of May. |
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AMC To Add Massive Amounts Of Hashing Power
SPRINGFIELD, MO, – May 26, 2013 – VMC a manufacturer of the Fast-Hash Bitcoin Mining Machines has announced today that they will purchase a full batch (10,000) of Avalon chips to build ~29 Fast-Hash-80's for AMC should AMC provide the capital in the next few weeks, this would bring AMC machine total to 39 units. The 39 machines will bring the cooperatives hash power to 3,504,000 MH/s, 3,504 GH/s, or 3.504 TH/s. At the current Difficulty of 12,153,411.71 this will bring the estimated total revenue as of this writing to a total of $19,280.28 per day and a yearly amount of $5,398,450.75. AMC is a hybrid mining and development cooperative and a business unit of VMC.
Capitalize the remaining revenue at 5%, Value = $53,984,507.50 How can you capitalise the revenue at 5% when a large chunk of the shares are held by yourself without having put in the same amount of capital/share? Not arguing against you retaining a chunk of shares - but it massively impacts valuation (sold shares generated .005 or whatever each, you shares generated the value of the avalons you purchased/shares you own).
Capitalizing the revenue has nothing to do with the number of shares held. Maybe you should study how to capitalize an income stream. Have you read my offering description? If you had you will notice that the income only goes over 40 Million shares for the next 12 months, plus half of the revenue is reinvested back into more machines. Also if you extrapolate from current orders to a lot more (what you've done) then you MUST factor in the change that quantity of hash-power makes to difficulty, as it becomes significant. If all those machines arrive and get deployed, difficulty would change within a week - the 50% reinvestment would only keep up with external changes, it can't possibly compensate for the immediate change when you deploy before you've mined anything.
Yes, you are right, that is why I only took 50% of the revenue when I capitalized it. I believe the 50% reinvestment will keep the revenue stream stable for at least a year. Of course the machines will not arrive and get deployed in one week, plus it takes 2106 block ~2 weeks for the difficulty to change. Who gets the dividend payment from shares allocated for public sale but unsold btw? We know investors don't (they get a fixed portion of profits) but do they go to you or into reinvestment?
The dividend payment allocated for the public that are unsold go to AMC and will be used for reinvestment and ASIC development. It's also misleading to value shares now as though they already generated revenue that you project for a year.
This is a forecast of the value based on when the machines arrive and are deployed. nothing else. Plus the value NOW can only be based on the capital you've currently raised - the company's value can't be calculated based on money you HOPE to raise by selling more shares. And the value of an investor's share now is based on company value/number of dividend-paying shares. So if you've sold 1 share for every 5 you hold (can't tell actual numbers as can't distinguish between treasury shares and your personal ones) then at present investors would only own 1/6th of the company. As you sell more that figure increases - as does the value of their share - but right now, because the majority of shares are owned by yourself - without similar capital having been put in - the actual value of the shares sold must be pretty low (they put in 90% of capital and own 1/6th of company - or whatever actual figures are based on shares sold).
Like I said, this is not the value NOW. It is a forecast of the value for the next year after the machines arrive and are deployed. The value of the company does not have anything to do with the capital you raised, it has to do with what you do with that capital, i.e purchase equipment that produces income. Most of the shares I own will not receive dividends until 12 months after the IPO. Have to say the distribution method used (a not uncommon one around here ) of x% of profits per share is grossly unfair to investors if the IPO doesn't sell out. If less shares sell then they get the same percentage of profits on a much smaller capital base. So if 1 share sold (ignoring your avalons for a second - just to show the point) then he'd have put in 100% of the capital but get 1/100 millionth of the profits. Your existing avalon orders make it less unfair - but still grossly so unless most of that 40 million shares get sold (at which point you're 'only' taking 60% of profits plus any salary in return for a few avalons - looking only at capital invested, not at work put in).
My offer is very fair to investors. I work hard to increase shareholder value. You may be missing the point with just a few Avalon's put in to the cooperative. The Avalon's are just a small part of what Investors get when they invest into AMC. As you can see from our Press Release we are reinvesting most of the IPO funds into more machines and/or chips to build those machines. We are also working on developing an ASIC chip which will add more shareholder value. Also, the cooperative gets a 10% royalty from VMC on machines VMC sells with AMC technology. This royalty could be very important to adding shareholder value in the future. |
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Would publishing AMC's bitcoin address add transparency since we can see proof of purchase of Avalon chips, etc.
I think it would: Here is the address we are holding bitcoins at to purchase the chips: 16yTynjmSe5bsRGykDaaCL5bm2pxiEfcqP We would like to purchase a full batch as group purchases have a commission of about 9.5% |
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I like the idea of spacing out the blocks of 500k in .0001 increments instead of throwing them all out at .0005. The earlier you invest, the lower price you get in at.
Well a bunch of early investors already got screwed so I don't know how this will pan out. Did you mean to say early speculators/flippers, because if they where investors they would be waiting for the dividends. That misses the point. 'Early' investor can pick up 20k at .0005 now EARLIER Investor on 23rd picks up 10k @ .001 making a judgement on information which has shown to be wrong. Big loss in volume You are right, that is what happened, however that Early investor had over 3 weeks to pick up his 20K @ .0005. Even at double the price in the Long Run we will drive shareholder value up. I think even that investor that picked up 10k @ .001 will be very happy. |
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I like the idea of spacing out the blocks of 500k in .0001 increments instead of throwing them all out at .0005. The earlier you invest, the lower price you get in at.
Well a bunch of early investors already got screwed so I don't know how this will pan out. Did you mean to say early speculators/flippers, because if they where investors they would be waiting for the dividends. |
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This is a train wreck waiting to happen. Not for the company, but for the investors. Pirateat40 part deux. GLTA.
"If you make your Investors successful, you will be successful" Most miners know that your "annual revenue" numbers are deceptive (I would say fraudulent), many of your investors probably do not. forecasting revenue using today's difficulty on machines you do not even possess has no purpose but to deceive as you know the difficulty level will not be "today's level" when you receive your first six machines let alone your chips. You must have missed that fact that I am taking 50% of the revenue to purchase more machines to keep the revenue stream consistent. Also, this is the only way to estimate the revenue stream. I fully disclose that this is based on today's difficulty so that makes it neither deceptive or fraudulent. |
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This is a train wreck waiting to happen. Not for the company, but for the investors. Pirateat40 part deux. GLTA.
"If you make your Investors successful, you will be successful" |
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