[AMC]-The Official Active Mining Cooperative Discussion

[ronaldlee0917]

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

What do you not understand?

I don't understand why our money is handed to VMC and we take 100% of the risk but only get 10% of ANY profit in return.
I don't understand why investing in AMC is actually investing in VMC which is solely owned by Ken.
I don't understand why there is a need for the existence of VMC except to benefit Ken.

[ajk]

Agreed, I am wondering this as well

Why is it not one company all controlled by Ken? is there some tax avoidance plan we arent seeing here? there has to be some benefit and reason as to why there are 2 companies both run by Ken, it causes question there is obviously a reason its just who does it benefit the most,

lots of edits. same end meaning

[lysr]

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

What do you not understand?

I don't understand why our money is handed to VMC and we take 100% of the risk but only get 10% of ANY profit in return.
I don't understand why investing in AMC is actually investing in VMC which is solely owned by Ken.
I don't understand why there is a need for the existence of VMC except to benefit Ken.

You have the answer to all your questions.

[steveioio]

The fact that one invested into X but it turned out investment will be used for Y should be clear sign more serious shit is coming on horizon.

I'm no expert in company law, could AMC be declared bankrupt and Ken then quite legally run off with VMC and all it's investments and profit? After all we have no direct connection to VMC as AMC holders.

[lysr]

Why is AMC listed under Securities anyway? 

AMC is a loan to VMC, one with no to low interest payments dependent on whether VMC finally manages to sell any hardware.

[ChefBorjan]

Nice to see some actual updates and news on this thread. Hopefully in the next 2 or so weeks we will have enough evidence to quieten down the incessant trolling, and more important regain some investor confidence as well. I'm still happy I have held onto my shares throughout all this.

And please, for those trying to stop said trolling, try to remain civil even if the trolls aren't.

[Diamondstarfall]

The fact that one invested into X but it turned out investment will be used for Y should be clear sign more serious shit is coming on horizon.

I'm no expert in company law, could AMC be declared bankrupt and Ken then quite legally run off with VMC and all it's investments and profit? After all we have no direct connection to VMC as AMC holders.

There are so many things ken can do that will screw over the investor's to benefit himself in the contract. It really is time to stay away.

[steveioio]

I'm sure we are all watching the share price now and again. Someone is currently trying to pump the real floor of bids/offers at 0.00085 to 0.001 with a measley 40 shares.

It looks like someone is trying to push price higher to sell at a better price. Don't fall for this - it will go on for days and days. My advice is that until something concrete comes out from AMC SIT ON YOUR HANDS.

Price is not about to shoot off again to 25 - it will go up so that some big holders can sell at a better price. Sentiment is currently DOWN so don't be fooled by little price rises because plenty of big holders will still want to sell at a better price and you will be paying their bills. Currently there is a ceiling at 0.001 and that simply will not be broken until some seriously concrete news is released with checkable data.

[ronaldlee0917]

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

What do you not understand?

I don't understand why our money is handed to VMC and we take 100% of the risk but only get 10% of ANY profit in return.
I don't understand why investing in AMC is actually investing in VMC which is solely owned by Ken.
I don't understand why there is a need for the existence of VMC except to benefit Ken.

You have the answer to all your questions.

I never blame Ken for writing terms to protect or benefit himself, but those benefits are obtained in the expense of his shareholders which is unacceptable.

[steveioio]

There are so many things ken can do that will screw over the investor's to benefit himself in the contract. It really is time to stay away.

Yes I am concerned that legally he may be able to step aside from AMC and abandon it while taking VMC and it's assets with him - that could amount to something big. That way he would be protected from the law and very very rich. Until that is addressed I will be worried, it's like a legal scam? Maybe I have that wrong?

[lewicki]

I don't understand why our money is handed to VMC and we take 100% of the risk but only get 10% of ANY profit in return.
I don't understand why investing in AMC is actually investing in VMC which is solely owned by Ken.
I don't understand why there is a need for the existence of VMC except to benefit Ken.

It's not 100% of the risk first of all. Ken has by himself invested money into the company to the value of about $43,000 for the 6 Avalons currently running. Those Avalons are generating profit for the current 40,000,000 shares issued. Within a month another 300GH will be added to the AMC mining pile for dividends.
Within 2 weeks the Avalon prototype board will have been completed and when the 20,000 Avalon chips arrive in August, those as well will be added to the AMC mining array.
 
I dont think you understand that there are 3 sources of income for investing in AMC.

• Mining from AMC
• 100% of sales related to the eASIC chip until the NRE(shareholder buys) is paid off
• 10% sales from VMC thereafter

AMC will be paying us dividends for the Avalons, the Klondikes, the Avalon Clones, and when our chip starts being made, AMC will purchase as many machines as it can afford AT COST from VMC  AND get paid for the NRE.

The machines have to be made and they have costs, the only difference is that VMC is manufacturing instead of AMC.

Take out the sales entirely and you still make back your investment several times over within a short amount of time.

[auto2nr1]

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

I would be interested in picking up double of what i have now if this was to be cleared. This is one of the major issues at hand here.

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

What do you not understand?

I don't understand why our money is handed to VMC and we take 100% of the risk but only get 10% of ANY profit in return.
I don't understand why investing in AMC is actually investing in VMC which is solely owned by Ken.
I don't understand why there is a need for the existence of VMC except to benefit Ken.

I agree and don't understand why VMC even exsists. Why do we only get 10% of the returns when we are risking 100% of our money? AMC money should be used to build AMC hardware to sell or mine with. EXAMPLE: ASICMINER

Agreed, I am wondering this as well

Why is it not one company all controlled by Ken? is there some tax avoidance plan we arent seeing here? there has to be some benefit and reason as to why there are 2 companies both run by Ken, it causes question there is obviously a reason its just who does it benefit the most,

lots of edits. same end meaning

VMC (Ken) should not be benefiting at all from AMC investors money. This should be kept within AMC and it's shareholders.

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

What do you not understand?

I don't understand why our money is handed to VMC and we take 100% of the risk but only get 10% of ANY profit in return.
I don't understand why investing in AMC is actually investing in VMC which is solely owned by Ken.
I don't understand why there is a need for the existence of VMC except to benefit Ken.

The fact that one invested into X but it turned out investment will be used for Y should be a clear sign more serious shit is looming on horizon.

If shit hits the fan AMC's investors are screwed.

The fact that one invested into X but it turned out investment will be used for Y should be clear sign more serious shit is coming on horizon.

I'm no expert in company law, could AMC be declared bankrupt and Ken then quite legally run off with VMC and all it's investments and profit? After all we have no direct connection to VMC as AMC holders.

My thoughts are that AMC loses out and Ken takes money and continues to make hardware sales thus profiting for himself.


I think all these issues needs to be cleared up by Ken as soon as possible.

[s_stylez]

I would like to know more about Darin Carolus, VP Marketing for AMC (mentioned in the details on BTCT.co)

And the accusations of him scamming clients when he was building illusions for Magicians in Reno, and apparently investigated by the Secret Service....?

http://www.magicnewzealand.com/ezine-archive/2007-Jan-to-Dec-2007/488-Apr01-2007.txt
http://www.magicnewzealand.com/ezine-archive/2007-Jan-to-Dec-2007/489-Apr08-2007.txt
http://www.magicnewzealand.com/ezine-archive/2007-Jan-to-Dec-2007/490-Apr15-2007.txt
http://www.magicnewzealand.com/ezine-archive/2007-Jan-to-Dec-2007/491-Apr22-2007.txt
http://www.magicnewzealand.com/ezine-archive/2007-Jan-to-Dec-2007/499-May13-2007.txt

Same Darin Carolus?

Read below:

Registrant:
MagicColosseum
6891 Sonterra Ln
Reno, Nevada 89523
United States


ref: http://www.themagiccafe.com/forums/viewtopic.php?topic=200093&forum=7


This site shows all the domains registered under the IP: 184.73.156.39:

http://whoisrequest.org/reverse-ip/184.73.156.39

Which include:

tahoeultimaterentals.com   (Mentioned in AMC Profile)
shopping-cart-now.com           (Mentioned in AMC Profile)
z4solutions.com                  (Mentioned in article relating to Darin Carolus)

and

darin.info

Which whois shows:

Registrant ID:CR48982096
Registrant Name:Darin Carolus
Registrant Organization:MagicColosseum
Registrant Street1:6891 Sonterra Ln
Registrant Street2:
Registrant Street3:
Registrant City:Reno
Registrant State/Province:Nevada

ref: http://whoisrequest.org/whois/darin.info

[auto2nr1]

I don't understand why our money is handed to VMC and we take 100% of the risk but only get 10% of ANY profit in return.
I don't understand why investing in AMC is actually investing in VMC which is solely owned by Ken.
I don't understand why there is a need for the existence of VMC except to benefit Ken.

It's not 100% of the risk first of all. Ken has by himself invested money into the company to the value of about $43,000 for the 6 Avalons currently running. Those Avalons are generating profit for the current 40,000,000 shares issued. Within a month another 300GH will be added to the AMC mining pile for dividends.
Within 2 weeks the Avalon prototype board will have been completed and when the 20,000 Avalon chips arrive in August, those as well will be added to the AMC mining array.
 
I dont think you understand that there are 3 sources of income for investing in AMC.

• Mining from AMC
• 100% of sales related to the eASIC chip until the NRE(shareholder buys) is paid off
• 10% sales from VMC thereafter

AMC will be paying us dividends for the Avalons, the Klondikes, the Avalon Clones, and when our chip starts being made, AMC will purchase as many machines as it can afford AT COST from VMC  AND get paid for the NRE.

The machines have to be made and they have costs, the only difference is that VMC is manufacturing instead of AMC.

Take out the sales entirely and you still make back your investment several times over within a short amount of time.

Did Ken contribute the Avalons as a shareholder contribution of capital, or did he pay himself from AMC funds for the Avalons?

I asked Ken this before and there was no reply, which leads me to believe the Avalons were sold to AMC at a healthy profit for Ken.

I'd like to see documented proof of what was done.

I would like to see proof as well.

Aside from the Avalon's. If Ken did pitch in his own money for the Avalon's he should just take up that much amount of shares at the IPO price of 0.0005. Then it all works out that would be his initial investment in AMC. Everything after that has been paid for by AMC investors. 20K in Avalon chips, Klondikes, and Avalon clones all belong to AMC and it's shareholders. If AMC paid for the NRE then we will recoup the cost by mining and selling chips/hardware in the future. We will make 100% of profits off chip/hardware sales. Why do we need VMC??? Let's get rid of VMC.

[lewicki]

If Ken did pitch in his own money for the Avalon's he should just take up that much amount of shares at the IPO price of 0.0005. Then it all works out that would be his initial investment in AMC.

That's not how it works, ever, for anything. He has intellectual property, other intangibles, and he's actually running the company.

When a company goes public, the public doesn't demand exacting ratio of funds invested compared to the original investors investment.

Sheesh man.

[auto2nr1]

If Ken did pitch in his own money for the Avalon's he should just take up that much amount of shares at the IPO price of 0.0005. Then it all works out that would be his initial investment in AMC.

That's not how it works, ever, for anything. He has intellectual property, other intangibles, and he's actually running the company.

When a company goes public, the public doesn't demand exacting ratio of funds invested compared to the original investors investment.

Sheesh man.

If it does not work like that then how would it work? What is the best way to make this right then? What i am trying to figure out is how can Ken gain shares of AMC for his contributions.

[lysr]

An alleged scammer in the management team.
Things are getting more and more interesting for AMC.

Was the whole contract drafted by Darin Carolus?

[steveioio]

"Darin Carolus (magician)" Well of course, it'll take magic to turn this deal from fiction to reality! I'm fan of magic. Where do I send money?  

Do you think there might be some slight of hand going on then?

[hamiltino]

[Kyune]

An alleged scammer in the management team.

You'll have to be more specific.