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ActiveMining, AMC Dividends paid [.00000517]
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ActiveMining, AMC Dividends paid [.00000517]
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I will be working on dividends tonight. Since we are now on PDT and had a ton of meeting today they will be late.
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NOTICE: ALL AMC-PT SHARES WILL BE TENDERED FOR ActiveMining Shares ASAP Good to finally hear that  Do you mind telling us how the eASIC dealings went? That meeting is today. |
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NOTICE: ALL AMC-PT SHARES WILL BE TENDERED FOR ActiveMining Shares ASAP |
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NOTICE: ALL AMC-PT SHARES WILL BE TENDERED FOR ActiveMining Shares ASAP |
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Not to be that guy, but lets talk about AMC Belize's registration #'s now
do you have a certificate from whatever office registers businesses there? is it an IBC? Corp? LLC?
also, who is your registered agent there, I could use a cheap one myself
Yes Agent: Belize Offshore Services Limited. IBC No 134,964 |
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ActiveMining should concentrate on signing with eASIC and, given today's reports, any additional regulatory compliance (pending legal advice asap).
Both of these items, alongside formation of a board, will give shareholders confidence.
Everything else really should wait.
Private Placement Memorandum http://axs.net/AMC/PPM/AM.pdf |
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Can ActiveMining engage in arbitrage on the 2 exchanges? That would allow the price on both exchanges to be reasonably similar, and the earnings from arbitrage could be added to dividends. You could do it once a week, and that would be much less work than allowing transfers of shares.
We really don't have time to do anything like that. Getting this going takes all of our time. |
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Ken,
Bitfunder sucks. Can you allow us to exchange our shares from Bitfunder to BTC-TC? We can wait till you get back from California.
Please?
Hi Noah, What about Bitfunder are you unhappy about that we can try to work on? It may already be in progress. Thanks, Ukyo Personally I prefer the look and feel of bitfunder, but the extra step of using we exchange puts some people off. Some things I would personally like is the current bid and ask in the my assets page, 2fa for bids and asks, and a real time ticker (because watching live sales is pretty fascinating) Transferring shares takes up valuable time that we need to work on our companies plans, so at this time we won't have a transfer plan available. |
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Just to clarify Active Mining Corporation (Belize) (AMC) position:
The operations in the US are Virtual Mining Corporation (VMC) only which is wholly owned subsidiarity of AMC and is not issuing public securities of any kind. ActiveMining shares are being issued by Active Mining Corporation (Belize). Because AMC owns VMC which is a Delaware Corporation does not put them under the SEC. VMC is also running all of the mining operations for AMC here in the US.
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Ken, now that ActiveMining has been approved, can you confirm that the shares of AMC will automatically be converted? If this is not the case, do we need to send the shares to AMC1?
I am working on this now. Shares will be automatically tendered. |
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I've been reading up several documents on the SEC site. Here's the key wording I've found: http://www.sec.gov/investor/alerts/ia_virtualcurrencies.pdfAny investment in securities in
the United states remains subject to the jurisdiction
of the seC regardless of whether the investment is made
in U.s. dollars or a virtual currency. In particular,
individuals selling investments are typically subject
to federal or state licensing requirements I've read over a lot of other material as well but I think (IANAL): - If the exchange is in the US, it needs to comply with SEC regulation.
- If an offering is from a US company, it needs to be registered with the SEC or follow the Exception rules.
- There are no rules preventing US citizens from buying assets, shares, or anything similar from foreign exchanges
- BTCT and Bitfunder are on weak legal ground by trying to claim they aren't real investments. The core issue is that they pay dividends, i.e. real money based on buying a virtual asset of some kind. A crytpocurrency is real money as far as this is concerned. If they aren't selling securities of some kind, they're gambling. It's one or the other, and gambling is far more restrictive.
- As long as these exchanges are not based in the US, they only need to comply with the rules in the country of registration. These rules are likely to be less stringent than in the US but that doesn't mean they don't exist. A legal opinion is needed for e.g. operating out of Belize.
- As above, selling virtual assets in a company registered another country, such as Belize, may similarly need some form of local registration. A legal opinion is needed.
I could be wrong on any or all of the above. Please can a lawyer turn up  Edit: I'm sure those behind the exchanges have had a legal opinion, but we've seen this all go wrong before. Also, those selling 'investments' need to be aware too. Those based in Belize et al are probably fine. Those based in the US are definitely breaking the law unless already registered with the SEC. Edit2: Ukyo says on IRC that Bitfunder is registered in a 3rd world country that has no securities division. This all looks good for AMC as the stock exchanges are in another country and AMC is not a US company, it is a Belize company. |
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BTC-TC,
Anonymous voted NO with comment: No evidence that I've found as yet that VMC is actually shipping operational hardware. No evidence of 28nm ASICs either. Will amend vote if evidence of live, hashing equipment is provided (not screenshots of e-commerce sites selling pre-orders!).
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Friedcat of AM fame released the AM financial statement today and I noticed something interesting in his Project Timeline, specifically in Nov-Dec... Update
Financial Status
...
blah blah blah
...
August-September: Deploy/sell all hashpower arriving in July and early August.
September-November: Deploy/sell the hashpower ordered at early July.
November-December: Experimental products of 2nd-gen chips and modular large-scale deployment solutions.
Modular, you say? What a brilliant idea! now THAT... is good shit. October/November Active Mining Deploys and Sells our 1st Gen 28nm 16 GH/s chip. Modular Deployment for Active Mining's mining farm with up to 24.576 TH/s per 34U's of rack space. Now that is good stuff if I say so myself. |
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Alright then guys, here's one of the two logo concepts I've been working on today, still based around the same idea as the first:   Hey Hazryder. Nice work. I'm really digging the blades design. I also am a graphic designer. One minor critique... Please consider Idlewild (book Weight) underneath the main VMC. It should jive a little better and give it a bit of a cleaner corporate feel. Its by the reputable foundry Hoefler & Frere-Jones. The typeface of the VMC as you have it conveys virtual and computers and clean and corporate and it has a nice thickness that should balance off of it well. If you need to find it here is a link to a zip http://wehaslinks.com/download/5361/1bad920e63f6ce9cc40a3cb0f301a64cI like the one on the bottom, see my PM. |
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Well the SEC sure doesn't "beat around the bush":
“Ponzi scheme operators often claim to have a tie to a new and emerging technology as a lure to potential victims,” said Lori J. Schock, Director of the SEC’s Office of Investor Education and Advocacy. “Investors should understand that regardless of the type of investment, a promise of high returns with little or no risk is a classic warning sign of fraud.”
Caveat Emptor I don't need a babysitter. It's not about having a baby sitter, it's about the SEC knocking on these exchanges doors or even each individual offering and saying shut it down because the correct procedures weren't taken. at the bottom of the page of BTC-TC: * This is a virtual stock exchange using virtual currency. Virtual goods utilized on this site are for entertainment and educational purposes only.Not to mention these exchanges are in Belize. Putting an asterisk and bold letters on your website stating that there's "nothing to see here, move along" does not exempt you from the law. That being said not all of the issuers on these exchanges are "in" belize. By the way, simply being registered in another country while living and operating in the united states will not save you either. That being said none of this is meant to start anything other than asking Ken's opinion on this matter since it effects all the shareholders and himself. Well, it is better than having the company in this country. There is a law (SEC) that if the stock exchange is out side of the US and you are not targeting US citizens you are exempt from registering. We are not doing anything to target US citizens, in fact on Bitfunder we don't know where the shareholders live same on BTC-TC; however on BTC-TC we have their email address. BTC-TC is registered in Belize so that stock exchange is outside the country. The company is out side the country and we are not targeting US citizens. |
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AMC To ActiveMining Tender Offer AnnouncementPlease allow 24-48 hours for transfers to be completed.
Cutoff time for dividends to be paid to shares tendered is 18:00 UTC on Wednesday of each weekhttps://bitfunder.com/asset/ActiveMining Profile->Description We are offering a minimum of 1 and a maximum of 10,000,000 AM Virtual shares of our Active Mining Corporation a Belize International Business Company (“ AMC Belize”) Shares (the "AMC Belize Shares") in exchange for minimum of 1 and a maximum of 10,000,000 Active Mining Cooperative (“AMC Cooperative”) AMC Virtual Shares (the “AMC Cooperative Shares”) on a one(1) for one(1) exchange. Shares of AMC Cooperative will need to be tendered to AMC Belize. Date: Time: Exchange: (Bitfunder or BTC-TC) Exchange User Name: Number Of Shares: BTC-TC Users Bitfunder User Name: On BitFunder.Com: BITFUNDER INSTRUCTIONS START 1). Tender our AMC shares by pushing the shares to AMC-TENDER. Your AMC shares will then be tendered for ActiveMining shares. 2). Then email the above information to tender@activeminingcorp.comBITFUNDER INSTRUCTIONS END On BTCT.Co To Bitfunder shares: BTC-TC INSTRUCTIONS START 1). Tender your AMC-PT shares by pushing the shares to AMCTENDER1. Your AMC-PT will then be transfered to Bitfunder, and then the shares will be tendered for ActiveMining shares. 2). Then email the above information to tender@activeminingcorp.comBTC-TC INSTRUCTIONS END The cutoff time for dividends to be paid to shares tendered is 18:00 UTC on Wednesday of each week If you expect dividends to be paid do not tender your shares after this time until the dividends are paid for that week. After the dividends are paid for the week you can then tender your shares. This offer may be withdrawn at any time. Any Tender Offers not accepted will be returned with any accumulated dividends. Tender Offers will be processed FIFO as fast as possible. Tender Offer expires July 31, 2013 Hey Ken, thank you for your postings. I tried to exchange my AMC shares for ActiveMining on Bitfunder, but not sure how. When you say tender them to AMC-TENDER, you mean that I need to transfer my shares to a username "AMC-TENDER", right? Or how to "tender" my shares? Thank you! Yes, do a transfer of your shares you wish to tender to AMC-TENDER, then send an email to tender@activeminingcorp.com with the information above. I will then process your tender by verifying your tender shares, and then transferring the same number of shares of ActiveMining to you. |
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I have finished all the transfer that did not have any kind of problems.
I will go through all the transfers tomorrow that have any kind of problems and
try a resolve the problems. I will email anyone that has transfers that I can
not resolve their problem.
This week dividends cut off for transfer will be 18:00 UTC on Tuesday due to
my trip to California on Wednesday. Dividends will be paid again on Thursday
night.
Thanks for your patients as the work load has increased due to providing customer
service for VMC sales.
Ken
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