[AMC]-The Official Active Mining Cooperative Discussion

[lewicki]

Update from Ken.

• Avalon prototype boards - They will be finished within 2 weeks. He is going to provide a scan of the documents proving that that work is under way.
• AMC's proprietary chip - He will provide a scan of the NDA, he is currently talking with eASIC, and it looks like he will be able to pay the NRE, and if not, then in installments
• Storage - Springfield Underground is currently for sale. He is looking into acquiring it to host all of AMC's mining needs when the need arises.
• Klondikes - Will be arriving within a month, 300 GH
• Avalon Chips - The engineering firm that he employed for the boards has the 60 sample chips from the 2 avalon chip bulk orders, pictures will be coming for those when he gets his hands on them within 2 weeks. There are 20,000 of them incoming. Avalon will start shipping the chips at the beginning of July. AMC has pre-orders a for a few of these, the rest will be built and mined by AMC
• Avalons purchased - Ken received the 3 remaining Avalons. Team AMC is currently hashing at 435.32 GH/s on https://www.btcguild.com//index.php?page=rankings&section=teams
• Engineering - Ken wrote the code for the chip, which eASIC ran and found to be acceptable.
• Price - The shares at 0.0025 are going to remain there, since he values AMC above that price and thinks that it is a great value.
• What is VMC? - VMC, Ken said was an afterthought. His main interest is in AMC(his baby). When he said that AMC gets first dibs on anything the VMC makes, he meant it. His plans for AMC is to buy as many mining machines AT COST from VMC and then leave the scraps for VMC to sell.
• The pricing of the machines are whack! - Whatever machines that are left over to buy will be priced competitively.
• What has AMC invested and why are there so many shares? - When a company looks for investment from say Angel Investors, they usually require 25-33% of the company's shares. Before AMC looked for money they had already invested in 6 avalons which are priced now at over $43,000 and a ROI much higher than that (data based on current auctions on bitcointalk, increase that value since AMC is already mining). So to say that 20 million shares are available for AMC after AMC had already invested a sizable amount of money into operations seems reasonable to me.
• When do I get my money? - 100% of the money raised for the NRE will be payed off first. Either through sales or mining.
• When do I get my money? - "NRE will be paid back from VMC bulk chip sales not paid off with mining.  Which by the way maybe very profitable." -Ken
• What happens after the NRE is paid off - After 100% of the NRE is paid off in the form of dividends, AMC will continue to get paid 100% of the mining dividends and 10% of sales from VMC. AMC will also activate the remaining 60,000,000 shares which represents the AMC's profits, which is perfectly reasonable since they havnt received a cent up until this point.
• What happens after the NRE is paid off? - After 100% of the NRE is paid off from the sale of bulk chips from VMC, then AMC will continue to receive 10% royalty payment from VMC on all sales that use AMC technology (100% for now and the foreseeable future). AMC will also activate the remaining 60,000,000 shares which represents the AMC's profits, which is perfectly reasonable since they havnt received a cent up until this point.

Even better

[lewicki]

More updates from Ken

"Have the documents scanned and redacted, waiting on PR approval."

[ajk]

Insane speculation aside I still have some questions,

The question regarding VMC was not clearly answered mostly sidetracked with speak of AMC, is AMC the mining company and VMC the hardware selling?

from what Ken has said or if Ken can answer directly, the dividends are not being withheld or are they? from the phone call Lewicki posted I cant tell exactly if they are or are not Pre-NRE til the amount is paid,

Some things I can verify is that the NDA does exist with the CEO or COO Stanley Wong of EASIC and from previous experience with NDAs they usually are to protect details of contracts with significant value, I have no idea what the NDA states so im excited to see the actual scan,

at last traded price of .001 x the 40M shares the current value of the company is 3.8M, this is ambitious but more believable than the other numbers being thrown around considering the assets+projected revenue, although a company shouldnt be valued with theoretical numbers we are waiting for more information on unknowns like the EASIC chips and Avalon chips arrivals,

I am not buying on this news but I hope to hear better with more time, we can only hope Ken is actually doing what he says and hopefully there is a better future on the horizon,

[gramma]

Just got off the phone with Ken!






....wha?  I can't play this game too?


Holding on to my handful of shares now.  Either this thing will pan out, though it seems increasingly unlikely, or I will have an in-my-face reminder every time I fire up my btct account to not be a pig.  Grateful it's not a more expensive lesson.  Still annoying - I'd managed to steer clear of fraudsters before...

[kslaughter]

I do have to point out that nowhere have I said that we are not going to pay dividends to shareholders.

I do have to point out that kslaughter might be a hacked account or account of someone who does not want to be known as AMC head, like Tom.

I have been on this board as a lurker since 2009, I only registered in 2010 to make those post.  I have a lot more to do than post, so that is why there were on two post in 2010.  Also I was developing another product for about two years.  I decided to look back into bitcoin in early 2012 and seen that the price was $6.50.  I then started putting all my resources from a contract IT Job into GPU mining equipment.  I then took most all of the bitcoins mined in 2012-2013 and purchased the 6 Avalon's.  I then found bitfunder, put together an offer, seen that it took off, however had some problems with Avalon's quick announcement of their batch 3 sales and made some misstates in my offering because of the rush to get it together before the batch 3 sales.  So as it turns out, I had to pay back all of the cash to the first investors which I did plus a small dividend as AMC made a small profit on G.ASICMINER-PT dividends and the sales of G.ASICMINER-PT shares.  So, this is where the idea of VMC began,  you could not count on other manufactures to deliver there products on time or to even continue producing their product. i.e. Avalon  So VMC was created to provide AMC with a stable supply of bitcoin mining machines.  So the offering was rewritten to cover all the complaints of the community in the first offering adding VMC as the manufacture to supply AMC with machines at manufacturers cost (Want to offer the machines to AMC free, but I could not figure out a way to do that).  So this is the story of how we got to this point.  I think the future is very bright for AMC, having it's own supply of machines, having it's own chip for those machines, and maybe it's own underground data-center which is unlike most other data-centers which require some time during the year for down time, this data-center does not require any down time for maintenance.  

[TheSwede75]

Insane speculation aside I still have some questions,

The question regarding VMC was not clearly answered mostly sidetracked with speak of AMC, is AMC the mining company and VMC the hardware selling?

from what Ken has said or if Ken can answer directly, the dividends are not being withheld or are they? from the phone call Lewicki posted I cant tell exactly if they are or are not Pre-NRE til the amount is paid,

Some things I can verify is that the NDA does exist with the CEO or COO Stanley Wong of EASIC and from previous experience with NDAs they usually are to protect details of contracts with significant value, I have no idea what the NDA states so im excited to see the actual scan,

at last traded price of .001 x the 40M shares the current value of the company is 3.8M, this is ambitious but more believable than the other numbers being thrown around considering the assets+projected revenue, although a company shouldnt be valued with theoretical numbers we are waiting for more information on unknowns like the EASIC chips and Avalon chips arrivals,

I am not buying on this news but I hope to hear better with more time, we can only hope Ken is actually doing what he says and hopefully there is a better future on the horizon,

Except it is 100 million shares total of course.

[TheSwede75]

At 0.005 I would consider AMC a worthwhile investment IF AMC gets full ownership of VMC. These confused cross ownerships, un-emitted 60 million shares and the 'off the top' profit that Ken seems to make is nothing but a game of shadows obviously created to profit off share holders that are either too lazy, too stupid or too gullible to read the fine print.

[kslaughter]

Insane speculation aside I still have some questions,

The question regarding VMC was not clearly answered mostly sidetracked with speak of AMC, is AMC the mining company and VMC the hardware selling?

from what Ken has said or if Ken can answer directly, the dividends are not being withheld or are they? from the phone call Lewicki posted I cant tell exactly if they are or are not Pre-NRE til the amount is paid,

Some things I can verify is that the NDA does exist with the CEO or COO Stanley Wong of EASIC and from previous experience with NDAs they usually are to protect details of contracts with significant value, I have no idea what the NDA states so im excited to see the actual scan,

at last traded price of .001 x the 40M shares the current value of the company is 3.8M, this is ambitious but more believable than the other numbers being thrown around considering the assets+projected revenue, although a company shouldnt be valued with theoretical numbers we are waiting for more information on unknowns like the EASIC chips and Avalon chips arrivals,

I am not buying on this news but I hope to hear better with more time, we can only hope Ken is actually doing what he says and hopefully there is a better future on the horizon,

Except it is 100 million shares total of course.

The dividends are going to be paid as required in the description.  lewicki has updated his post to reflect this.

[kslaughter]

At 0.005 I would consider AMC a worthwhile investment IF AMC gets full ownership of VMC. These confused cross ownerships, un-emitted 60 million shares and the 'off the top' profit that Ken seems to make is nothing but a game of shadows obviously created to profit off share holders that are either too lazy, too stupid or too gullible to read the fine print.

That is not the case, I am building AMC into a world class bitcoin mining farm, which all long term investors will receive profit from.

[ajk]

Swede 60m shares are just completely dead and not being used no divdends being paid or being sold how can this be added to the valuation of the company if they technically arent even being circulated yet,

I get the idea behind oh Ken could just crash the price with the other 60m shares but that would devalue his holdings and his company why would he do that if he could make more by actually running a legitimate business?

Thanks Ken for the direct answer, from what ive seen so far you have made everyone eat their words when everyone was doubting your avalons arrivals, while your most recent claims are a bit more of a reach I am in it for the long haul,

This really is fairly similar to a stock traded on real markets and everyone seems to be comparing you to AsicMiner, While I do question some of your financial decisions regarding the shares I am hopeful that you are going to deliver on your promises,

Time will tell,

[kslaughter]

Insane speculation aside I still have some questions,

The question regarding VMC was not clearly answered mostly sidetracked with speak of AMC, is AMC the mining company and VMC the hardware selling?

from what Ken has said or if Ken can answer directly, the dividends are not being withheld or are they? from the phone call Lewicki posted I cant tell exactly if they are or are not Pre-NRE til the amount is paid,

Some things I can verify is that the NDA does exist with the CEO or COO Stanley Wong of EASIC and from previous experience with NDAs they usually are to protect details of contracts with significant value, I have no idea what the NDA states so im excited to see the actual scan,

at last traded price of .001 x the 40M shares the current value of the company is 3.8M, this is ambitious but more believable than the other numbers being thrown around considering the assets+projected revenue, although a company shouldnt be valued with theoretical numbers we are waiting for more information on unknowns like the EASIC chips and Avalon chips arrivals,

I am not buying on this news but I hope to hear better with more time, we can only hope Ken is actually doing what he says and hopefully there is a better future on the horizon,

Except it is 100 million shares total of course.

Yes, but only after the next 10 months have expired, right now only 40,000,000 shares are receiving dividends.  So, let's value the company at the current number of shares issued.

[ajk]

I dont want to use words of little value but you guys are being stupid by thinking that most of us are buying for the dividend, this is not AM we are buying shares because most of us believe that AMC is currently undervalued, we are betting that the next guy will pay more for the same shares in the future given Ken Slaughter deliver on all his promises

[kslaughter]

At 0.005 I would consider AMC a worthwhile investment IF AMC gets full ownership of VMC. These confused cross ownerships, un-emitted 60 million shares and the 'off the top' profit that Ken seems to make is nothing but a game of shadows obviously created to profit off share holders that are either too lazy, too stupid or too gullible to read the fine print.

Un-emitted 60 million shares that can be emitted without putting an ASK offer. That is some serious shit, yet no one seems to care.

~40 Million shares  I own and I am not going to sell.  20 million shares that AMC owns which will be used to build the mining farm even bigger that it will be in 10 months
of growth.

[ajk]

You obviously didnt understand what I said, I was saying the word Stupid is a word I do not like using because I value both sides of argument as long as claims are valid,

You are still multiplying by 100M,  

[stslimited]

kslaughter, why was AMC priced this way?

[ajk]

Honestly, Whatever, Lol I am still hoping that I can use the money to have fun I could care less if kens company goes flat to the ground but would be extremely happy if it goes up,

you seem dead set to keep at it so go for it man

best of luck ken I hope my 2k turns into 10k so I can take my family on a vaca


Isnt that part of what investing is?
Have a good day!,

[ronaldlee0917]

Not interested in buying back until that VMC shady thing is scrapped or merged into AMC.

[TheSwede75]

Honestly, Whatever, Lol I am still hoping that I can use the money to have fun I could care less if kens company goes flat to the ground but would be extremely happy if it goes up,

you seem dead set to keep at it so go for it man

best of luck ken I hope my 2k turns into 10k so I can take my family on a vaca


Isnt that part of what investing is?
Have a good day!,

I wish I owned companies for you to invest in.

[ajk]

Lol is 2k considered an investment? it was a gamble to begin with and a gamble it will stay,

If I thought it was actually worthwhile I would have put a real investment in, this was play money

Edit,
Ill rephrase, If there was less promise and more physical asset than I would have put a real investment in, its a gamble since we are betting on promise so ill keep my bitcoins with AMC since I considered it gone anyway

[lewicki]

Not interested in buying back until that VMC shady thing is scrapped or merged into AMC.

What do you not understand?