[AMC]-The Official Active Mining Cooperative Discussion

[Vbs]

started to be too complicated, usually i prefer easy business, 1 company, 1 profit

Yes, it started to be too complicated but now it's much much simpler, as there's only one company (Active Mining Corporation that owns everything).

[Streets 2.0]

started to be too complicated, usually i prefer easy business, 1 company, 1 profit

Yes, it started to be too complicated but now it's much much simpler, as there's only one company (Active Mining Corporation that owns everything).

I have to agree, this is much better!  Ken get this thing rolling!  Thanks for the hard work

[wonker]

started to be too complicated, usually i prefer easy business, 1 company, 1 profit

Yes, it started to be too complicated but now it's much much simpler, as there's only one company (Active Mining Corporation that owns everything).

+1

[forensick]

started to be too complicated, usually i prefer easy business, 1 company, 1 profit

Yes, it started to be too complicated but now it's much much simpler, as there's only one company (Active Mining Corporation that owns everything).

+1

virtual identity. after all those offshore companies in Delaware, Belize, etc. we have the ned with virtual identity... no laws, no jurisdiction, only good word. But I am in from the beginning, so it is not time to run out 

[Vbs]

virtual identity. after all those offshore companies in Delaware, Belize, etc. we have the ned with virtual identity... no laws, no jurisdiction, only good word. But I am in from the beginning, so it is not time to run out 

The "virtual identity" is just for having a name to call the shares that represent the profits of "Active Mining Corporation".

[Exocyst]

I think this contract nails it down for me. Great work Ken & community. What a great time to see cheap bitcoins AND low priced AMC shares on BitFunder! Great time to be an AMC bull.

[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 3 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. 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 3 7/5/13

[auto2nr1]

Now we are definitely getting back on track and heading in the right direction. Can we also include information in regards to voting rights and the board of directors for AMC. Would just like to see clarification and things in writing to further avoid any confusion in regards to this issue.

**This is a copy and paste from the original offering below**

VMC will provide a method for shareholders to vote.  The method will provide that only shareholders can vote
and shareholders will only have 1 vote for each share that is held.  Any motion to bring a vote before the
shareholders will require 10% of the shareholders votes on a petition with 1 vote for each share held.
VMC will provide a method for motions should the need arise, if the exchange does not provide a method.
VMC will be run by a 7 member board of directors, the board of directors will be elected within three months
of the initial IPO of VMC.  The board of directors shall adopt a set of by-laws within the first 6 months.
Until the first board of directors are elected, the current management of VMC, Delaware will manage VMC Belize.  

[ronaldlee0917]

Thanks Ken, the offer looks much more reasonable and clear now, should boost confidence of investors.

[forensick]

virtual identity. after all those offshore companies in Delaware, Belize, etc. we have the ned with virtual identity... no laws, no jurisdiction, only good word. But I am in from the beginning, so it is not time to run out 

The "virtual identity" is just for having a name to call the shares that represent the profits of "Active Mining Corporation".

It could be better defined in a contract, to clarify it what it means exactly

[auto2nr1]

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.

Version 3 7/5/13

Just to make sure it is 100% clear. Since the VMC name is still being tossed into the offering is this how the structure looks?

          AMC
|-------^--------|
AM                  VMC           **ACTIVE MINING REPRESENTS A VIRTUAL ID SO THE 40% OF THE SHARES HAVE A NAME & VMC REPRESENTS THE OWNER(S) MANAGEMENT
40%                 60%
10M                 15M

I just want to make sure for myself and for the rest of the community. Thanks.

[Vbs]

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.

Version 3 7/5/13

Just to make sure it is 100% clear. Since the VMC name is still being tossed into the offering is this how the structure looks?

          AMC
|-------^--------|
AM                  VMC           **ACTIVE MINING REPRESENTS A VIRTUAL ID SO THE 40% OF THE SHARES HAVE A NAME & VMC REPRESENTS THE OWNER(S) MANAGEMENT
40%                 60%
10M                 15M

I just want to make sure for myself and for the rest of the community. Thanks.

No man, forget about VMC. Everyone will own AM shares that represent the profits of everything as a whole. VMC is just something that Active Mining Corporation owns 100%, and you as a shareholder will own a part of the profits of Active Mining Corporation with everything included.

[JimmyJazz]

Are the current AMC shares on Bitfunder and bcto also to be included in the 0.0025 dividend payment (reimbursed investment)? I'm guessing they will be after I have exchanged them for AM shares?

[auto2nr1]

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.

Version 3 7/5/13

Just to make sure it is 100% clear. Since the VMC name is still being tossed into the offering is this how the structure looks?

          AMC
|-------^--------|
AM                  VMC           **ACTIVE MINING REPRESENTS A VIRTUAL ID SO THE 40% OF THE SHARES HAVE A NAME & VMC REPRESENTS THE OWNER(S) MANAGEMENT
40%                 60%
10M                 15M

I just want to make sure for myself and for the rest of the community. Thanks.

No man, forget about VMC. Everyone will own AM shares that represent the profits of everything as a whole. VMC is just something that Active Mining Corporation owns 100%, and you as a shareholder will own a part of the profits of Active Mining Corporation with everything included.

Just by having the name VMC in there is throwing me off a bit. I really want to forget about VMC. This is is why we should just refer to the company as one name. I am sure i am not the only one that is annoyed and frustrated by this since we first raised the issue. All these entities and names has made things complicated. So just to re-cap. AMC will have 25m shares and out of those shares 10m will be held by investors (AM shares) and 15m will be held by management. Where does VMC come into play? Where is VMC in this whole mess? We should only be referring to one company which is AMC and ActiveMining which is the called that just purely for to label 40% of AMC. Am i on point here? Once again can someone clarify where VMC is in this structure?

[kslaughter]

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.

Version 3 7/5/13

Just to make sure it is 100% clear. Since the VMC name is still being tossed into the offering is this how the structure looks?

          AMC
|-------^--------|
AM                  VMC           **ACTIVE MINING REPRESENTS A VIRTUAL ID SO THE 40% OF THE SHARES HAVE A NAME & VMC REPRESENTS THE OWNER(S) MANAGEMENT
40%                 60%
10M                 15M

I just want to make sure for myself and for the rest of the community. Thanks.

No man, forget about VMC. Everyone will own AM shares that represent the profits of everything as a whole. VMC is just something that Active Mining Corporation owns 100%, and you as a shareholder will own a part of the profits of Active Mining Corporation with everything included.

Just by having the name VMC in there is throwing me off a bit. I really want to forget about VMC. This is is why we should just refer to the company as one name. I am sure i am not the only one that is annoyed and frustrated by this since we first raised the issue. All these entities and names has made things complicated. So just to re-cap. AMC will have 25m shares and out of those shares 10m will be held by investors (AM shares) and 15m will be held by management. Where does VMC come into play? Where is VMC in this whole mess? We should only be referring to one company which is AMC and ActiveMining which is the called that just purely for to label 40% of AMC. Am i on point here? Once again can someone clarify where VMC is in this structure?

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.

[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 4 7/5/13

Edit:  Updated "How to buy shares" to include the exchange of AMC shares

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

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 4 7/5/13

[VolanicEruptor]

nice, but a little more cowbell would make it perfect

[matuszed]

This is great news I'm loading the boat.

[Vbs]

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.

[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.

To make it easy, I just think of the new, proposed 'Active Mining Corp' as one monolithic entity paying all profits to share holders. First 0.0025 BTC goes to to the 10 million investor shares, which is the icing on the cake for me.