[ActiveMining] Drawingthesun's Thread. Only Known/Useful Information

[deizel]

From the page you just posted from

Posting the weekly update from the main thread:

Weekly Update 12/11/13


Crypto-Trade:

Still working on the verification program, which should be finished this week.  After the verification program is finished we will have a time where shareholders will be able to verify their shares.  After that we will move this batch over to Crypto-Trade and start trading.  Lagers will still be able to verify there shares and will be moved to Crypto-Trade in batches.

VMC:

We are continuing to bring in all the parts for mass production of our miners.

AMC:

We will be using a minimum of 50% of our manufacturing capacity to build miners for AMC's mining farm.

[deizel]

I've brought this timeline over from the other thread as I think it may be useful to keep a copy here.

The dates in bold are confirmed by announcements, while the others are projected from estimated timelines in the prospectus.

• 26th July [source] - Ken estimates two weeks for NRE to be paid (during visit to eASIC)
• 3rd August [source] - Ken returns from his trip to eASIC and the Engineering firm
• 4th August [source] - Ken posts to say he is busy working on eASIC deal
• (sometime before August 28th) [used for guesstimates below] - NRE Funds paid
• 28th August [source] - Ken confirms NRE funds were converted 'some time ago'
• 4th September [source] - eASIC issue press release
• 12th September [source] - Avalon refund confirmed as having been received
• 1st November [original guesstimate] - Chip samples delivered in 9 weeks;
• 30th October [source] - Ken announces gradual hashrate increase including 'other resources' [source]
• 25th November [original guesstimate] - Low-volume chip production starting in 12 weeks, using an e-beam process;
• 30th November [source] - Ken announces delays due to further R&D and upcoming Intellihash(tm) technology
• 12th December [source] - Weekly announcement states "we are continuing to bring in all the parts for mass production of our miners"
• 18th December [source] - Weekly announcement states "working with eASIC and our engineers to get our chip and boards in full production"
• 25th December [source] - Weekly announcement states "working on assembling [for] when our boards and chips arrive"
• 24th December - 9th January [original guesstimate] - Normal volume chip production starting in 16-18 weeks.
• 1st January [source] - Weekly announcement states "The new year looks bright ... as we continue to assemble our miners for quick delivery"
• 9th January [source] - Weekly announcement states "engineers are still designing our board ... hired ... competent RTL design team to make sure ... Low-Power and ... most speed from the chip"
• 15th January [source] - Weekly announcement states "in San Jose working with our partners ... The RTL problem has been solved ..."
• 27th February - 10th March - assuming an 8 week delay (from Jan 9) or 12 week delay (from Nov 30), chips may be forthcoming at this point in time

* Note: As of 30th November, probable delays have been introduced into the timeline.

(I will be trying to keep this updated as more facts are revealed. In an effort to keep this thread tidy, please PM me with any suggestions.)

[Tafelpoot]

• 24th December - 9th January [original guesstimate] - Normal volume chip production starting in 16-18 weeks.

So normal chip production starts early January or in May?

[drawingthesun]

• 24th December - 9th January [original guesstimate] - Normal volume chip production starting in 16-18 weeks.

So normal chip production starts early January or in May?

Early January.

[SaberCoin]

I never transferred my Activemining shares on bitfunder to AMC-TENDER. What are my options now?

[JoTheKhan]

I never transferred my Activemining shares on bitfunder to AMC-TENDER. What are my options now?

Ken has the asset list. You're options are to wait for trading and be able to sign messages from your Public Wallet Address that you're listed on Bitfunder.

[Ozymandias]

So Ken seems to be delayed because of legal aspects.... does that mean we give up our anonymity to get our shares, will we have to register with SEC? I realize the answers to these questions are probably only known to ken..... I just thought I would pose the question.


This probably applies to us...

http://cointext.com/fincen-issues-bitcoin-friendly-ruling-for-miners/

What are the implications?

ActM wont have to register as an MSB as long as it doesn't sell cloud-mining contracts (aka good news)

[Mabsark]

• 24th December - 9th January [original guesstimate] - Normal volume chip production starting in 16-18 weeks.

So normal chip production starts early January or in May?

Early January.

Those above dates were extremely optimistic best case scenarios and ignore the facts that wafers need to be packaged into chips and shipped around, which can take weeks. My original calculations did not ignore that fact and the date I came up with for normal volume production was February. That was before the announced delays which everyone should assume will be around 9 weeks until Ken says otherwise, as that's how long he said it takes to get the samples.

It's far more realistic to expect normal volume production to commence in April/May than than to claim that the chip redesign has actually sped up the production schedule.

Normal volume production will be 7 to 9 weeks after samples according to Ken. Ken has not had new sample chips back yet. What will the date be 9 weeks from now?

[minerpart]

You've been told many times that expected full production of VMC machines is January.

This has been fully explained to you and Ken even agreed so how come you know so much more than the CEO? lol

[Mabsark]

You've been told many times that expected full production of VMC machines is January.

This has been fully explained to you and Ken even agreed so how come you know so much more than the CEO? lol

Yes, you keep saying full production is expected January despite me explaining how those date were wrong in the first place and despite the fact that Ken announced delays.

HashFast waited 23 days for sample chips to be packaged and shipped to them once the foundry had produced the wafers. KnC waited 13 days.

Also, Ken hasn't agreed that normal volume production will begin in January at all. If he has though, you'll have no trouble quoting him and I will admit I'm wrong. The last post from Ken states:

Weekly Update 12/25/13

Merry Christmas and Happy New Year.

Here is a picture of our manufacturing line for assembling miners.


Assembly Line


We are working on assembling everything, so when our boards and chips arrive, we can ship the miners fast.

I can back up my claims with facts, can you?

[NickDanger]

Here's an interesting bit of historical revisioning by Ken & Co., quoting from the VMC thread:

I received a reply 2 days ago, which unfortunately I'd only just noticed as it went to my spam filter. I can't actually find anything on the site, nor had noticed it when I ordered, about pre-orders taking 3+ months for delivery (if anyone can please direct me to it). This also contradicts their previous response telling me it would be shipped between Jan 20 - Feb 10.

This is the response:

Dear Customer,
Pre-Order Terms: This is a pre-order. 28nm ASIC products are shipped according to placement in the order queue, and delivery may take 3 months or more after order.This is nothing new has been on our site under all products under more info.
Your order is in the February 28th-March 20th date of shipping.If you want to cancel your order then yes we would refund your money.It does come in a check form in the mail.If you want to get a refund please send a full name and address.

Regards,
Customer service

The Virtual Mining website has been recently updated, you will find the info you need in the Active Mining securities thread here.

Read the quoted post by kleek, where he argues:

...
Look, I'm giving you the benefit of the doubt here, because you "went away" for a while. The issue is that you come back, sling mud, and have done no catching up at all. I believe Bargraphics already corrected you, and rightly so, but if you're clicking around the site why not quote this date?

For the gold module: Availability date: 2013-12-31

Source: http://virtualminingcorp.com/shop1/index.php?id_product=25&controller=product
...

If you follow the given link, you will see expected shipping date has been changed.  Make of this what you will.

[drawingthesun]

I will hold off updating this thread due to the current investigation by Missouri Securities Division. There doesn't seem to be anything to say or do these days and the company could end up anywhere.

Once the investigation has concluded and if we still exist as a company at that point this thread will become live once more. Until then it's being mothballed.

[lobbes]

Since the MSD has halted investment activity, I will revive this thread.

MSD Cease and Desist Order

I feel like this thread could now be used to gather any evidence against Ken that we can. Cross-posting this question below:

I am certain Ken has made hundreds of thousands through salary or even millions from our money.

Does anyone know the original IPO fund addresses? We need to try tagging all outputs....

To what end?  You realize the shares are selling substantially lower than the nickel/share Ken is allegedly obligated to pay out?  That's because folks understand they won't be seeing any refunds.  So what would knowing that Ken sent me, let's say, 50BTC do for you, other than make you feel more frustrated?

If we can find outputs that are likely his hidden income addresses, we might be able to persuade the courts (if any action happens) that Ken is hiding money. Then he can either obey a potential order to release the funds go to jail.

I also created the following 'index' of ActiveMining threads to aid in the sleuthing that is to follow:

https://bitcointa.lk/threads/index-of-active-mining-threads.324135/
Posted from Bitcointa.lk - #wd14g5HSuPsxf5Vd

[Entropy-uc]

Since the MSD has halted investment activity, I will revive this thread.

MSD Cease and Desist Order

I feel like this thread could now be used to gather any evidence against Ken that we can. Cross-posting this question below:

I am certain Ken has made hundreds of thousands through salary or even millions from our money.

Does anyone know the original IPO fund addresses? We need to try tagging all outputs....

To what end?  You realize the shares are selling substantially lower than the nickel/share Ken is allegedly obligated to pay out?  That's because folks understand they won't be seeing any refunds.  So what would knowing that Ken sent me, let's say, 50BTC do for you, other than make you feel more frustrated?

If we can find outputs that are likely his hidden income addresses, we might be able to persuade the courts (if any action happens) that Ken is hiding money. Then he can either obey a potential order to release the funds go to jail.

I also created the following 'index' of ActiveMining threads to aid in the sleuthing that is to follow:

https://bitcointa.lk/threads/index-of-active-mining-threads.324135/
Posted from Bitcointa.lk - #wd14g5HSuPsxf5Vd

you missed the AMC flash crash thread
https://bitcointalk.org/index.php?topic=245713.0

Quite a list, far, far more than I remembered.  Topic spamming has to be a new scam indicator.

[lobbes]

Thanks to kactech, for archiving Ken's posts:

CEO delete his posts.
At least one newer quote.
Just in case, an archive.

[NotLambchop]

^Bitcointa.lk:  https://bitcointa.lk/search/5585/