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November 30, 2013, 07:00:48 PM |
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Active Mining Corporation (Belize)
PROGRESS REPORT
As of November 30th 2013
First I want to thank all of our Investors for trusting in us. We are working hard in this very competitive environment to make all of our Investors successful. Now a few things have changed since our IPO. First, there is a lot more competition in the 28nm marketplace such as, Cointerra, Hashfast, Bitmine, KnCMiner, and Butterfly Labs. Before this last tremulous increase in the exchange rate of Bitcoins and Knc's shipping of their miners the difficulty was so high that our machines would not ROI. During this period we have been working on R & D to improve our products performance to be able to compete with the 400 GH/s and 500 GH/s chips. VMC expects to be able to compete with these competitiors with its increase in performance using our Intellihash(tm) technology. We will be introducing our Fast-Hash One Smart Edition and will have an upgrade path for our current customers.
Bitcoin:
AMC expects Bitcoin to continue to rise in price over the next quarter as global acceptance of the virtual currency continues to explode.
New exchange for shares crypto-trade.
We have been contacted by Crypto-Trade in Hong Kong and will be moving our shares to their exchange. We feel that this will be the best place for our shares to be traded until we have a tested solution with a decentralized trading and dividends method. Crypto-Trade will be accepting our list of sharesholders and their number of shares and will create accounts automatically. There is no need to sign up for an account on Crypto-Trade as it will be created for you.
November Sales:
As of this writing we have over 2.1 Million in sales for November, this excludes any fraudulent sales, I.e the $933,000 sales which was fraudulent and proven on the thread and a $3,000,000 sales which looks fraudulent. AMC expects its sales of VMC's Bitcoin mining machines to continue to grow as it has the highest TH/s machines in the marketplace. AMC expects the difficulty to continue to rise at an explosive rate. AMC expects this explosive rate to drive adoption of VMC's 24 TH/s which has the lowest space requirement and the highest redundancy of any manufacturers machines.
Shipping:
We have this last week shipped our first products to customers.
Intellihash(tm)
Intellihash is our new trademark for our new Bitcoin mining software which gives up to a 20% increase in hashing speed and has the possibility to increase the speed of our mining machines as the difficulty goes up. We have had to modify the software in our chips to make it work with our new software. The chips are going to be late; however, our new Intellihash software could be a game changer for the company.
AMC Cash Position:
AMC is in an excellent position with the rise in Bitcoins this last month. As of this date at the current price of Bitcoins we have over 2.3 Million in liquid assets, this includes Bitcoins, Cash from VMC, and AMC purchased ActiveMining shares. During the time since the IPO, AMC has paid out all of the revenue from the Avalons which is a total of 667.22167902 BTC ( $812,676.01 ) USD including the accumulated dividends to be paid out when all the shares are moved to a new exchange. Also, AMC has added additional hashing power from our Klondikes. AMC expects to use its Intellihash technology to increase its revenue with its existing machines until its eASIC designed chip is in full production.
Increased margins on sales:
Due to the rise in Bitcoin, we have increased our margins on our Bitcoin mining machines. We expect this to help VMC's profit in the 1st quarter of next year.
Bitfunder/WeExchange Problems:
We have ~106 BTC in the Bitfunder/WeExchange system which we can not obtain. We have sent Bitfunder's/WeExchange's Ukyo a Legal Demand For Payment within 72 hours. We expect this problem to result in the loss of the 106 BTC. We are meeting with our Lawyers to determine what our next steps will be. This 106 BTC has been deducted from our liquid cash position above.
Forward Looking Statements
This press release contains forward-looking statements, including, without limitation, statements related to AMC/VMC's future sales and distribution of its Bitcoin mining machines. Words such as "expects" and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based upon AMC/VMC's current expectations. Forward-looking statements involve risks and uncertainties. The company’s actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of these risks and uncertainties, which include, without limitation, economic conditions, customer business environment and inventory levels, government and technological factors outside of our control, adoption and roll-out of products, risks related to ability to capitalize on growth opportunities and markets, risks related to our ability to manage our growth and other risks that may cause our business, industry, strategy or actual results to differ materially from the forward-looking statements. AMC/VMC expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein.
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