We should be seeing a status report within the next few weeks, so will be interesting to see how your numbers align.

Nice one. 

Great stuff. Thanks for your time on this.

You still haven't accounted for the number of outstanding shares.  AMC has 100M total.  40 M held by Kevin, 2 M sold, and 20M for a 'reinvestment account' (the same scam Ian Bakewell used, research it).  The other 38M I assume are to be sold to raise money (AMC needs at least $2M in capital to cover their published plans).

So dividends paid to share holders will be 2/22 M  = 0.09 of profits initially.  Eventually this is diluted to 0.02 of profits, and Kevin holds voting right to do whatever he pleases.

Put that in your spreadsheet and understand why you should sell while Kevin is pumping.

Well that's what happens when you fuck around with a non-transparent selling policy and price manipulation to try to sell more shares in the short-term.  You attract short-term sales at the price of long-term credibility/sales.  I've seen it plenty of times and it's never ended up working well for the issuer.

The problem many issuers face is that they try to sell more shares than there's actually demand for.  The policy of early-bird shares followed by a sharp price rise hits problems as soon as the sharp price-rsie occurs - as the initial investors then get to profit-take, undermining further sales.  And why wouldn't they do that - as there'll surely be more IPOs along shortly where they can make a 50%+ profit in a few weeks by flipping early-bird shares rather than holding on long-term with much greater risk for a massively lower APR.

Where AML varies from other ones burned by messing with this stupid sales policy (e.g. BitPride, ZigGap, BTCQuick on Bitfunder) is that it didn't even manage to sell all the early-bird shares.  The three listed sold all those - but then ran into undercutters cashing out profit when trying to sell the rest at much higher prices.  Guess every IPO has to learn the same lessons the hard way - specifically :

1.  Fucking with your own share price to raise it will only attract short-term speculative investment - a higher price will NOT attract new long-term investment that wouldn't invest at the lower price.
2.  If you sell some shares cheap then other identical shares at a higher price EXPECT a lot of of the ones who bought cheap to undercut you.

The exception to this is when a rise in price follows ACTUAL decent profits (see S.DICE - where higher priced tiers did sell out after months of steady real, not projected, profit).  That's profits that have been made - not fantasy projected ones based on being able to add hashpower (that has't even been built) to the network without changing the network's hashpower and without anyone else buying/building/deploying any ASICs at all.

From having seen plenty of other attempts at the same thing I'd expect the price to move around for a bit then slowly fall back towards the initial price as people who bought thinking they could cash out at the next price tier realise it isn't actually going to get there any time soon.  The drop can be delayed - but made sharper when it happens - by continued attempts to manipulate market prices.  The price CAN be kept high if sufficient capital is used to maintain bid-walls - but quite possibly at the cost of actual sold shares dropping and the retained capital/share falling as it gets thrown away buying back shares at a price higher than they were sold at.

Disclosure : I regularly buy/sell during IPOs - there's generally more profit (and much less risk) flipping during IPOs than holding the shares for any length of time.  I currently hold 0 AMC but HAVE bought and sold a small amount (profitably) for my fund.

Great, as soon as it comes closer to 0.0005 I will buy more. This is one of the only investments with some level of security for the upcoming asic take over.

Much more accurate, still a terrible investment b/c at current valuations it is worth 1/10 of asicminer.  I probably don't need to point this out but Asicminer is already proven and controlling more than 10x the network power that this company ever will.

I did today some quick math on the investment return, might as well share it with everyone.

I considered only the hardware stated below and assumed a linear 20TH/month increase in difficulty, already starting "aggressively" (debatable ) at ~178TH/s in june (bear in mind that at today's difficulty, 390GH/s would yield BTC491/month).

Div/share/month is based on the 40,000,000 split, with the accumulated BTC in the "Growth/Expansion Fund" also shown (minimum of 20M shares).

ROI shown for BTC5E-4 and BTC10E-4 share price, current share price is at ~BTC9E-4.



I'm expecting the numbers to get even better with announcements of even more hardware buys. Lets keep the "Growth/Expansion Fund" always depleted!

Loving your work Vbs. You are now default shareholder accountant! 

Come on.   How many companies can you name that IPO, do not even sell 5% of their shares and then "buy them back at 60% higher than their offering price?
Yes, I know the offering is illegal so the point may be lost on you BUT, you do know it is AGAINST the law for any broker listing on a prospectus or for the issuing company's treasury to buy back primary or secondary offering shares at ANY price above the issue price?

What's the PPLNS reward per share? I had a look at the site but couldn't find that info.

(...)
Bottomline is that he DOES own more than 60% - dropping to exactly 60% if/when all 40% of public shares are sold.  Reason for that is the ownership the shares owned by AMC.  Those are owned by whoever owns AMC.  Shareholders do NOT own AMC (that's explicit in the contract) so do not any part of those shares.  In practical terms, assuming good faith, the actual effective owned percentage of profits is 50% if all public shares are sold.

Introduction
ASICMINER is a virtual identity totally held by investors of the Bitfountain company. The Bitfountain company's business includes mining with self-built ASIC devices, as well as the sales of them. Currently ASICMINER shareholders holds 163,962 shares, while Bitfountain shareholders holds 236,038 shares. ASICMINER shares have the privilege of getting all net profits till 0.1BTC/share from the day when dividends began to be paid. They also have the exemption of dilution, which means that each ASICMINER share always equals to 1/400,000 of the total profits and voting power of the summed value from both ASICMINER and Bitfountain.
(...)