[AMC]-The Official Active Mining Cooperative Discussion

[TaxReturn]

Active Mining Corporation (Belize) owns everything and receives all the profits, 100% of which are then paid to the 10 million shares held by Investors until a total of .0025 BTC in dividends are paid to Investors.

I read that as there will be no share swap to another entity anymore, instead everybody just keeps their AMC shares but gets more bang for the buck now. Right?!?

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[lolstate]

Active Mining Corporation (Belize) owns everything and receives all the profits, 100% of which are then paid to the 10 million shares held by Investors until a total of .0025 BTC in dividends are paid to Investors.

I read that as there will be no share swap to another entity anymore, instead everybody just keeps their AMC shares but gets more bang for the buck now. Right?!?

There will still be a swap if you want it. Swap current AMC for the new AM.  The new AM will be more valuable, so the obvious course of action is to go ahead and do the swap.

Edit: Note the old 'AMC' was 'Active Mining COOPERATIVE'. The new, proposed 'AMC' is different, it is 'Active Mining CORP'. So, this is one reason why I prefer to think of the new 'Active Mining CORP' as one, big thing (with internal departments) that pays 100% of profits to shareholders. The first 10 million investor shares get the first tranche of dividends until each share has earned 0.0025 BTC. After that, all shares including Ken's 15 million earn dividends equally.

[Vbs]

Active Mining Corporation (Belize) owns everything and receives all the profits, 100% of which are then paid to the 10 million shares held by Investors until a total of .0025 BTC in dividends are paid to Investors.

I read that as there will be no share swap to another entity anymore, instead everybody just keeps their AMC shares but gets more bang for the buck now. Right?!?

There will have to be a share swap, as the new contract is now very different than the one of AMC. Like lolstate said Active Mining Corporation now owns every asset of the Active Mining Cooperative (AMC).

[ArcticWolf]

I really like where this is going. Might have to buy some more shares

[auto2nr1]

auto2nr1, think about it this way:

     Active Mining Corp (owns "old" AMC+VMC+cat+dog+bird+world)
   ----------^---------
   |                         |
Investors        Management
  hold                   holds
10M AM              15M AM
  shares               shares

This is how profits are split. Don't confuse it with what Active Mining Corp consists of internally, since the internal "departments" have nothing to do with the profit split.

This is what i've been understanding. Now what happens to the AMC security that is exchanged on BitFunder? I as well as other investors are going to be converting our shares to the new AM shares. Will that security cease to exist?

I don't think that is going to happen, AMC will continue to exist for a long time to come.  Even if the 10M shares where all swapped for VMC shares, AMC still has more to offer and will continue to grow.  The only difference will be that some of the revenue from AMC will flow into VMC.  I think it is a win for AMC and a win for VMC.  

Ken, from the bolded points above, it is clear that you have mixed up what was supposed to happen ... what everyone was asking for.

AMC and VMC was supposed to be merged ... so that there is only ONE entity.

Now, you are completely changing this around so that both will still exist, and AMC will grow ??

This is completely wrong! and will bring us right back to all the issues and dramas of the last 130 pages of this thread.

You need to merge AMC into VMC, with the express intention of COMPLETELY dropping AMC from existence.

Sure, it will take sometime for all AMC shares to be swapped over, but no one is going to hold on to AMC shares on purpose when they know AMC is being closed/merged into VMC.

If you don't do this, and FIX what you have been saying for the past few pages, then we are right back where we started. Two companies, and a lot of crap in between.

Please fix it, and stop confusing/mixing sh!t up.

I just want to make sure that the bold text above is cleared up for everyone. We are completely dropping AMC (BitFunder shares i have now) from existence correct? One entity which will now be AMC (Belize) will be the only entity that will exist. I still don't know where VMC is coming from (internally). Can anyone explain that to me? I am only picking at this so that in the future there is no confusion among us shareholders as well new investors and no one will question the structure as we have before the AMC/VMC merger was agreed upon.

[ArcticWolf]

auto2nr1, think about it this way:

     Active Mining Corp (owns "old" AMC+VMC+cat+dog+bird+world)
   ----------^---------
   |                         |
Investors        Management
  hold                   holds
10M AM              15M AM
  shares               shares

This is how profits are split. Don't confuse it with what Active Mining Corp consists of internally, since the internal "departments" have nothing to do with the profit split.

This is what i've been understanding. Now what happens to the AMC security that is exchanged on BitFunder? I as well as other investors are going to be converting our shares to the new AM shares. Will that security cease to exist?

I don't think that is going to happen, AMC will continue to exist for a long time to come.  Even if the 10M shares where all swapped for VMC shares, AMC still has more to offer and will continue to grow.  The only difference will be that some of the revenue from AMC will flow into VMC.  I think it is a win for AMC and a win for VMC.  

Ken, from the bolded points above, it is clear that you have mixed up what was supposed to happen ... what everyone was asking for.

AMC and VMC was supposed to be merged ... so that there is only ONE entity.

Now, you are completely changing this around so that both will still exist, and AMC will grow ??

This is completely wrong! and will bring us right back to all the issues and dramas of the last 130 pages of this thread.

You need to merge AMC into VMC, with the express intention of COMPLETELY dropping AMC from existence.

Sure, it will take sometime for all AMC shares to be swapped over, but no one is going to hold on to AMC shares on purpose when they know AMC is being closed/merged into VMC.

If you don't do this, and FIX what you have been saying for the past few pages, then we are right back where we started. Two companies, and a lot of crap in between.

Please fix it, and stop confusing/mixing sh!t up.

I just want to make sure that the bold text above is cleared up for everyone. We are completely dropping AMC (BitFunder shares i have now) from existence correct? One entity which will now be AMC (Belize) will be the only entity that will exist. I still don't know where VMC is coming from (internally). Can anyone explain that to me? I am only picking at this so that in the future there is no confusion among us shareholders as well new investors and no one will question the structure as we have before the AMC/VMC merger was agreed upon.

My understanding is that VMC will just be an internal department of the new AM - essentially the same as a company that has a sales department and a manufacturing department. Keeping this department called VMC allows all the existing contracts with third parties that were signed as VMC to still be valid. Having to go back and redo all of those contracts would delay production IMO

[lolstate]

auto2nr1, think about it this way:

     Active Mining Corp (owns "old" AMC+VMC+cat+dog+bird+world)
   ----------^---------
   |                         |
Investors        Management
  hold                   holds
10M AM              15M AM
  shares               shares

This is how profits are split. Don't confuse it with what Active Mining Corp consists of internally, since the internal "departments" have nothing to do with the profit split.

This is what i've been understanding. Now what happens to the AMC security that is exchanged on BitFunder? I as well as other investors are going to be converting our shares to the new AM shares. Will that security cease to exist?

I don't think that is going to happen, AMC will continue to exist for a long time to come.  Even if the 10M shares where all swapped for VMC shares, AMC still has more to offer and will continue to grow.  The only difference will be that some of the revenue from AMC will flow into VMC.  I think it is a win for AMC and a win for VMC.  

Ken, from the bolded points above, it is clear that you have mixed up what was supposed to happen ... what everyone was asking for.

AMC and VMC was supposed to be merged ... so that there is only ONE entity.

Now, you are completely changing this around so that both will still exist, and AMC will grow ??

This is completely wrong! and will bring us right back to all the issues and dramas of the last 130 pages of this thread.

You need to merge AMC into VMC, with the express intention of COMPLETELY dropping AMC from existence.

Sure, it will take sometime for all AMC shares to be swapped over, but no one is going to hold on to AMC shares on purpose when they know AMC is being closed/merged into VMC.

If you don't do this, and FIX what you have been saying for the past few pages, then we are right back where we started. Two companies, and a lot of crap in between.

Please fix it, and stop confusing/mixing sh!t up.

I just want to make sure that the bold text above is cleared up for everyone. We are completely dropping AMC (BitFunder shares i have now) from existence correct? One entity which will now be AMC (Belize) will be the only entity that will exist. I still don't know where VMC is coming from (internally). Can anyone explain that to me? I am only picking at this so that in the future there is no confusion among us shareholders as well new investors and no one will question the structure as we have before the AMC/VMC merger was agreed upon.

My understanding is 'AMC-PT' trading on BTC-TC and 'AMC' trading on BitFunder will continue to exist for a while. Current holders of those shares will be offered a 1:1 swap to the new 'AM' asset. This new asset will be more valuable, so just about everyone following this thread will swap their current 'AMC' shares for 'AM'. I can't imagine why you would not do so.

The key to this deal is there is a NEW corporation called 'Active Mining Corp'. It owns everything. All profits made by this corporation are paid to holders of the new 'AM' asset. Early on, the 10 million investor shares take all the dividends. Once each investor share has earned 0.0025 BTC, all 25 million start getting paid ie the 10 million investor shares and the 15 million owned by Ken.

[kslaughter]

auto2nr1, think about it this way:

     Active Mining Corp (owns "old" AMC+VMC+cat+dog+bird+world)
   ----------^---------
   |                         |
Investors        Management
  hold                   holds
10M AM              15M AM
  shares               shares

This is how profits are split. Don't confuse it with what Active Mining Corp consists of internally, since the internal "departments" have nothing to do with the profit split.

This is what i've been understanding. Now what happens to the AMC security that is exchanged on BitFunder? I as well as other investors are going to be converting our shares to the new AM shares. Will that security cease to exist?

I don't think that is going to happen, AMC will continue to exist for a long time to come.  Even if the 10M shares where all swapped for VMC shares, AMC still has more to offer and will continue to grow.  The only difference will be that some of the revenue from AMC will flow into VMC.  I think it is a win for AMC and a win for VMC.  

Ken, from the bolded points above, it is clear that you have mixed up what was supposed to happen ... what everyone was asking for.

AMC and VMC was supposed to be merged ... so that there is only ONE entity.

Now, you are completely changing this around so that both will still exist, and AMC will grow ??

This is completely wrong! and will bring us right back to all the issues and dramas of the last 130 pages of this thread.

You need to merge AMC into VMC, with the express intention of COMPLETELY dropping AMC from existence.

Sure, it will take sometime for all AMC shares to be swapped over, but no one is going to hold on to AMC shares on purpose when they know AMC is being closed/merged into VMC.

If you don't do this, and FIX what you have been saying for the past few pages, then we are right back where we started. Two companies, and a lot of crap in between.

Please fix it, and stop confusing/mixing sh!t up.

I just want to make sure that the bold text above is cleared up for everyone. We are completely dropping AMC (BitFunder shares i have now) from existence correct? One entity which will now be AMC (Belize) will be the only entity that will exist. I still don't know where VMC is coming from (internally). Can anyone explain that to me? I am only picking at this so that in the future there is no confusion among us shareholders as well new investors and no one will question the structure as we have before the AMC/VMC merger was agreed upon.

Yes, With the AM shares investors will have 40% of the profits were that only have 10% now, so in that respect it is a good deal.  On top of that they will have a new company that sales hardware.  AMC (Belize) owns everything, VMC is just used to keep all of the manufacturing in one place, all of the profits from VMC will go to AMC which Investor who hold the 10 Million shares get 100% of profit until the total dividends paid is equal to or greater than .0025 BTC.  AMC will be sold or liquidated when the time comes.  First of all, before that happens 9 Million shares will have to be tendered to AMC (Belize) before the merger can go forward.  So, 90% of shareholders in AMC (Cooperative) will have to agree to the merger before it will happen.

[lolstate]

auto2nr1, think about it this way:

     Active Mining Corp (owns "old" AMC+VMC+cat+dog+bird+world)
   ----------^---------
   |                         |
Investors        Management
  hold                   holds
10M AM              15M AM
  shares               shares

This is how profits are split. Don't confuse it with what Active Mining Corp consists of internally, since the internal "departments" have nothing to do with the profit split.

This is what i've been understanding. Now what happens to the AMC security that is exchanged on BitFunder? I as well as other investors are going to be converting our shares to the new AM shares. Will that security cease to exist?

I don't think that is going to happen, AMC will continue to exist for a long time to come.  Even if the 10M shares where all swapped for VMC shares, AMC still has more to offer and will continue to grow.  The only difference will be that some of the revenue from AMC will flow into VMC.  I think it is a win for AMC and a win for VMC.  

Ken, from the bolded points above, it is clear that you have mixed up what was supposed to happen ... what everyone was asking for.

AMC and VMC was supposed to be merged ... so that there is only ONE entity.

Now, you are completely changing this around so that both will still exist, and AMC will grow ??

This is completely wrong! and will bring us right back to all the issues and dramas of the last 130 pages of this thread.

You need to merge AMC into VMC, with the express intention of COMPLETELY dropping AMC from existence.

Sure, it will take sometime for all AMC shares to be swapped over, but no one is going to hold on to AMC shares on purpose when they know AMC is being closed/merged into VMC.

If you don't do this, and FIX what you have been saying for the past few pages, then we are right back where we started. Two companies, and a lot of crap in between.

Please fix it, and stop confusing/mixing sh!t up.

I just want to make sure that the bold text above is cleared up for everyone. We are completely dropping AMC (BitFunder shares i have now) from existence correct? One entity which will now be AMC (Belize) will be the only entity that will exist. I still don't know where VMC is coming from (internally). Can anyone explain that to me? I am only picking at this so that in the future there is no confusion among us shareholders as well new investors and no one will question the structure as we have before the AMC/VMC merger was agreed upon.

Yes, With the AM shares investors will have 40% of the profits were that only have 10% now, so in that respect it is a good deal.  On top of that they will have a new company that sales hardware.  AMC (Belize) owns everything, VMC is just used to keep all of the manufacturing in one place, all of the profits from VMC will go to AMC which Investor who hold the 10 Million shares get 100% of profit until the total dividends paid is equal to or greater than .0025 BTC.  AMC will be sold or liquidated when the time comes.  First of all, before that happens 9 Million shares will have to be tendered to AMC (Belize) before the merger can go forward.  So, 90% of shareholders in AMC (Cooperative) will have to agree to the merger before it will happen.

Excellent, so my understanding is correct. 

[ab8989]

Do you really want to start using the name AM? The name AM has previously been heavily used in the ASICMINER context and if Active Mining Corporation starts using the same AM abbreviation it is going to create a lot of confusion between the two.

[ArcticWolf]

Do you really want to start using the name AM? The name AM has previously been heavily used in the ASICMINER context and if Active Mining Corporation starts using the same AM abbreviation it is going to create a lot of confusion between the two.

That means more eyes on our AM, and thats good business strategy
Also Asicminer is clearly labeled "ASICMINER" on all the exchanges, so there wont be that much confusion

[lolstate]

Do you really want to start using the name AM? The name AM has previously been heavily used in the ASICMINER context and if Active Mining Corporation starts using the same AM abbreviation it is going to create a lot of confusion between the two.

That means more eyes on our AM, and thats good business strategy
Also Asicminer is clearly labeled "ASICMINER" on all the exchanges, so there wont be that much confusion

+1

[ChefBorjan]

I'm not hot on the abbreviation being the same. I think if you really believe in yourself, be you a company or whatever, you don't have to piggyback on the success of others. Do your own thing and let the people come to you for your own merits.

But hey, its a minor thing I think in the overall scheme of things.

[John818]

PM can stand for Post Meridiem and it can also stand for Prime Minister. 

It is actually AMC (us) and AM (them) or am I mistaken?

[TaxReturn]

I'm not hot on the abbreviation being the same. I think if you really believe in yourself, be you a company or whatever, you don't have to piggyback on the success of others. Do your own thing and let the people come to you for your own merits.

+1

[lolstate]

I'm not hot on the abbreviation being the same. I think if you really believe in yourself, be you a company or whatever, you don't have to piggyback on the success of others. Do your own thing and let the people come to you for your own merits.

But hey, its a minor thing I think in the overall scheme of things.

I see where you're coming from, but this is business. Let's not forget the scale of our ambition here, which is to build the biggest bitcoin mining farm on the planet.

So, I say, 'ASICMiner, lock and load. We're coming for your coins!'

[oaxaca]

So, I say, 'ASICMiner, lock and load. We're coming for your coins!'

Too late, they've been dumping their coins for a week.

ASICMINER proved that they can put up enough 110nm to be 30% of the universe.  It was fairly inexpensive.  To maintain that market share against AM 28nm will be much tougher.  Let's see in a couple of months...

[auto2nr1]

Yes, With the AM shares investors will have 40% of the profits were that only have 10% now, so in that respect it is a good deal.  On top of that they will have a new company that sales hardware.  AMC (Belize) owns everything, VMC is just used to keep all of the manufacturing in one place, all of the profits from VMC will go to AMC which Investor who hold the 10 Million shares get 100% of profit until the total dividends paid is equal to or greater than .0025 BTC.  AMC will be sold or liquidated when the time comes.  First of all, before that happens 9 Million shares will have to be tendered to AMC (Belize) before the merger can go forward.  So, 90% of shareholders in AMC (Cooperative) will have to agree to the merger before it will happen.

Got it. So with AMC (Belize) owning everything, the 10m AM public shares will account for 40% of AMC (Belize). All profits (100%) from VMC manufacturing & sales will go towards AMC (Belize). All profits (100%) from the mining operation will also go towards AMC (Belize). Once all profits are funneled into AMC (Belize) the investors will get 40% (10m shares) of those profits for and management will get 60% (15m shares) in the form of weekly dividends.

By having AMC (Cooperative) sold or liquidated it will clear up any confusions or headaches for us all. I hope this can happen sooner than later. Also how would you go about voting rights for the shareholders? How would you get appoint the board of directors? Can you appoint board of directions by the number of shares owned? If a shareholder has a significant amount of stake within the company it would be a fair way to appoint those directors to help make major decisions. I look forward to some more details in regards to that now that it seems as this entity issue has been sorted out.

[kslaughter]

============================================================================================================================

VMC/AMC Merger

This is a Pre-Merger VMC Offering.

(This Is For Community Review Only)

The Final Offering May Be DIFFERENT

(This Document Is For Community Review Only And May Contain Errors)

Version Final 7/5/13

============================================================================================================================

Introduction
ActiveMining (AM) is a virtual identity representing all the profits of the Active Mining Corporation and is totally owned by it. The Active Mining Corporation's business includes cryptocoin mining and sales of self-built ASIC devices through its wholly owned subsidiary Virtual Mining Corporation (VMC).

Currently, it is expected for interested investors to hold 10,000,000 AM shares (40% of the profits), while Active Mining Corporation owner(s) shall hold 15,000,000 AM shares (60% of the profits), for a total of 25,000,000 AM virtual shares that represent 100% of the global profits of the Active Mining Corporation.

The first 10,000,000 ActiveMining shares bought by interested investors have the privilege of getting all profits until BTC0.0025/share is paid, starting from the day when dividends begin to be paid.

The issuing of more AM shares will be allowed in the future, provided there is strong economic justification, mainly on the basis of covering emergent capital needs. Existing shareholders also get the first choice for buying new shares before they are sold on the open market. The volume of new shares shall be kept at a minimum as much as possible and the pricing of them should be such that the total value of all Active Mining Corporation's assets (tangible and intangible) per AM share does not diminish, protecting shareholders as much as possible from future dilution of value.

How to buy shares
AM shares will be sold on BitFunder and BTCT.CO and any other exchange, following asset approval or exchanged of AMC shares. Existing Active Mining Cooperative (AMC) shareholders will be entitled to trade their shares for ActiveMining shares, on a 1:1 basis.

Dividend payment
The global Active Mining Corporation's income, including mining income, hardware sales via bitcoins, other cryptocoins and fiat transferred to bitcoins, will be paid to ActiveMining shareholders proportionally, when all manufacturing, maintenance, labor costs, R&D, and miscellaneous expenses are deducted. The first BTC0.0025/share dividends will only be paid to the first 10,000,000 AM shares sold, providing investors a priority in getting back 100% return of their investment.

Our chips
Generation 1: Fast-Hash. 28nm. Each chip's rated frequency is 800 MHz at 1.15V. It translates to 16,000 MH/s because it does 20 hashes per cycle. Chip requires proper handling of heat and power supply.

Our current hardware assets
- 6 Avalon miners, running on BTC Guild under "Team AMC" for around 430 GH/s.
- Order of Avalon chips from steamboat's batch #1, for 68 Klondike-16 boards, rated at 68*16*282 = 307 GH/s
- 20,000 Avalon chips (end of May and beginging of June orders), for a combined hashrate of 20,000*282 = 5,640 GH/s
In total, around 6,377 GH/s[/b].

Version Final 7/5/13

[auto2nr1]

PM can stand for Post Meridiem and it can also stand for Prime Minister. 

It is actually AMC (us) and AM (them) or am I mistaken?

This is why we should just call ourselves one name. We are AMC (Cooperative). Within AMC there is a division called ActiveMining (AM). Right now the AMC shareholders are investors for Active Mining Cooperative. Once this new offering is accepted by majority of the shareholders we will be able to swap the AMC (Cooperative) shares for AMC (Corporation) incorporated in Belize. We will become 40% shareholders in the AMC (Corporation) venture. I hope this clears up any confusion.