Should ActM shareholders try and get a lawsuit going?

[Mabsark]

Based on Ken's update from 30th November:

PROGRESS REPORT

As of November 30th 2013

...

Shipping:

We have this last week shipped our first products to customers.

Based on Ken's last update, ActM are months behind schedule for having working miners and by the time ActM do have miners they're going to be useless:

Weekly Update: 1/8/13

Question From VinceSamios:

Update Requests:
When and Where will we be able to trade shares?

Crypto-Trade and ChromaWallet (colored Coins).  As soon as we get time to finish the
verification interface; however, our core business comes first and working on Intellihash.

When is the first batch of chips/boards supposed to arrive at VMC Assembly?

Our engineers are still designing our board. We had to change our engineering firm, and
learn a few lessons about hiring an engineer firm.  We don't have a date at this time.

What do you estimate the ActM hashrate be at the end of January, February and March?

Due to our inexperience with design, we have had a few set backs; however, we have hired
the most competent RTL design team to make sure that when we spin up our chip it will work.  They are
very competent at Low-Power and getting the most speed from the chip.

Do you have any more accurate energy efficiency figures yet? w/GH?

Not at this time.

Comment From The CEO

How I see us going forward is we will get our chip and boards into production as soon as possible.  Active Mining is in one of the best positions to take advantage of the Bitcoin network.  Once we have our chips and boards in production this year we will be one of only two companies in the world which manufactures Bitcoin mining hardware and also mines.  With this combination we have unlimited availability to bitcoin mining hardware only limited by our resources.  What I see in the future is bitcoin's exchange rate for USD going to over $10,000 in the next year.  If this happens Active Mining with its own chip, our current resources which will be increasing with the exchange rate, and eASIC as our partner will put us in an excellent position to dominate our market.  Intellihash will just be an added boost should it turn out to be a game changer.

Kenneth E. Slaughter, CEO/CTO


Forward Looking Statements:

This press release contains forward-looking statements, including, without limitation, statements related to VMC’s future sales and the value of bitcoin and future hashing rates. Words such as "expects" and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based upon 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. VMC expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein.

Active Mining PR-Staff

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[SebastianJu]

And the result? Everything blocked for months. Wheres the advantage?

I think Ken is acting stupid profit wise but a court blocking everything for months or years and getting pennies back in some years is no alternative.

[Stuartuk]

Give it a go. Why not.

It will cost you a fortune and when the Judge sees Ken's lawyer and Ken's lawyer shows the Judge receipts that show Ken is still trading and awaiting suppliers and contractors to deliver, the Judge will tell you to FO and to not bother him again. He might even pass all the costs for the case over to you.

And justice will be served as you need to sell your house to pay for court fees and I'll be sitting counting my ACtM divs in March 2014.

[redmetal]

Why would you? what would you gain from this? A trading stop, a stop in all vital business activity, zero return for shareholders as VMC/ActM has very little in the way of assets as its all been spent on development and costs.

This would ruin ActM and shareholders will gain nothing, the people who pre-paid for their miners may receive 50% but sending this company bankrupt so early on will leave you with a huge legal bill and no return.

[minerpart]

Are you even a shareholder Mabsark?

I can't see how when the company is still trying to create success that this would do any good for anyone.

[mannybitcoins]

Give it a go. Why not.

It will cost you a fortune and when the Judge sees Ken's lawyer and Ken's lawyer shows the Judge receipts that show Ken is still trading and awaiting suppliers and contractors to deliver, the Judge will tell you to FO and to not bother him again. He might even pass all the costs for the case over to you.

And justice will be served as you need to sell your house to pay for court fees and I'll be sitting counting my ACtM divs in March 2015.

Fixed that for you.

[kingcrimson]

Exact same responses people gave during the Labcoin scam...'don't get authorities involved it'll just cause more trouble and we'll end up with nothing'. Turns out that delay cost everyone big time. Hope people learned something between then and now.... we need to pressure Active Mining until they give us real info, and don't take no for an answer.

[hobbymd]

Exact same responses people gave during the Labcoin scam...'don't get authorities involved it'll just cause more trouble and we'll end up with nothing'. Turns out that delay cost everyone big time. Hope people learned something between then and now.... we need to pressure Active Mining until they give us real info, and don't take no for an answer.

^^^^

this is labcoin 2.0 in progress, unless proven otherwise

[mannybitcoins]

To anyone who might benefit from the info from the thread VolanicEruptor posted that of course got deleted:

http://webcache.googleusercontent.com/search?q=cache:IXOM8sLxhvkJ:https://bitcointalk.org/index.php%3Ftopic%3D361235.20+&cd=6&hl=en&ct=clnk&gl

[joele]

And the result? Everything blocked for months. Wheres the advantage?

I think Ken is acting stupid profit wise but a court blocking everything for months or years and getting pennies back in some years is no alternative.

+1

[canth]

And the result? Everything blocked for months. Wheres the advantage?

I think Ken is acting stupid profit wise but a court blocking everything for months or years and getting pennies back in some years is no alternative.

+1. It won't be of any benefit to shareholders. Do what you will, Mabsark but I won't be funding a lawsuit at this time.

[Vigil]

We should do something. Even if it getting state attorney general's office involved or SEC if that can be done. We don't necessarily need to immediately jump into hiring lawyers.

[thefunkybits]

What would the lawsuit be for? Having unexpected delays? You people are morons
We're dealing with very risky unregulated securities here, there are no rules and this would be damaging to yourself

[Bambifan101]

I'm afraid Ken wins.
He knows you guys pretty well.
He predicted exactly how this will play out - some arm-waving, indignation, empty threats...  Give you a week or two, and you're ready for more bad news.
His timing is awesome - from rationed bits of news he doled out to the way he fed you this heap of dicks.
He knew you'll do nothing,  I'm sure a few months after this dies down, he'll rinse and repeat.
Thanks for being sensible.

[Vigil]

We need someone who can subpoena eASIC to determine whether they delivered chips, etc. 

[kmacri]

i can't believe people are voting no here.

we have shares, being held by ken, and we can't verify them, move them, even ASK him to confirm they exist, and yet you people who invested 1+ BTC don't want to sue?

sue his ***.
of course i am onboard.

volanic eruptor has a bunch of his personal info too.

i will happily pay this guy a visit.

[Vigil]

i can't believe people are voting no here.

we have shares, being held by ken, and we can't verify them, move them, even ASK him to confirm they exist, and yet you people who invested 1+ BTC don't want to sue?

sue his ***.
of course i am onboard.

volanic eruptor has a bunch of his personal info too.

i will happily pay this guy a visit.

Lets just get a group of people together who want their coin back and everyone else can just not have theirs. There may not be enough to pay everyone back but there may be enough to pay some of us back.

[thefunkybits]

Lol none of you could even prove that you have shares. You're also assuming that Ken has ran away with your money (if he did we would all be fucked anyway because no one can prove ownership of their shares)

One of you twelve year olds needs to outline a plan here

[thefunkybits]

Is your name Gerald by any chance?

Yes my name is Gerald Slaughter. That prediction I made was based on everything being on schedule (obviously). But hey I wasnt wrong, there is no share price and none of you even have shares.

Goodluck idiots, you're only hurting yourselves here

[coinfresh]

Based on Ken's last update, ActM are months behind schedule for having working miners and by the time ActM do have miners they're going to be useless:

Do you even have shares? What a drama queen. A lot of whiney bitches that like to just cause drama on this board.

[MilkyLep]

Since this is the speculation thread, and things have been very boring as of late I would like to speculate on the share price of ACTIVEMINING if all goes well with eASIC and the avalon chips.

Lets set the date for Dec 31, 2013.

my realistic guesstimation on the price of one share of ACTM is .027


Feel free to chime in, Im curious to hear what numbers other (possibly smarter) investors have in their heads!

Is your name Gerald by any chance?

Yes my name is Gerald Slaughter. That prediction I made was based on everything being on schedule (obviously). But hey I wasnt wrong, there is no share price and none of you even have shares.

Goodluck idiots, you're only hurting yourselves here

Wow I knew it was going to get worse...

No wonder I had this dipshit on ignore, he fucking "works" for ActM/VMC.

Give me a break.


Edit: Since your prediction was "obvious" for everything being on schedule, do you mind enlightening everyone publicly why and when everything became off schedule?


Trolls and shills everywhere....

[thefunkybits]

Because me and family took a shit (literally) on all the equipment, its ruined now and we need to spend more of your money on rebuilding everything so sorry, we got pretty drunk this Christmas

[mannybitcoins]

Since this is the speculation thread, and things have been very boring as of late I would like to speculate on the share price of ACTIVEMINING if all goes well with eASIC and the avalon chips.

Lets set the date for Dec 31, 2013.

my realistic guesstimation on the price of one share of ACTM is .027


Feel free to chime in, Im curious to hear what numbers other (possibly smarter) investors have in their heads!

Is your name Gerald by any chance?

Yes my name is Gerald Slaughter. That prediction I made was based on everything being on schedule (obviously). But hey I wasnt wrong, there is no share price and none of you even have shares.

Goodluck idiots, you're only hurting yourselves here

Wow I knew it was going to get worse...

No wonder I had this dipshit on ignore, he fucking "works" for ActM/VMC.

Give me a break.


Edit: Since your prediction was "obvious" for everything being on schedule, do you mind enlightening everyone publicly why and when everything became off schedule?

Not Gerald Slaughter, this is a troll.

[thefunkybits]

Not Gerald Slaughter, this is a troll.

Apparently Milky missed my rant last week bitching at Ken for more info

But honestly, this is the dumbest shit I've ever heard - suing the company for having problems and delays? This is risky stuff, deal with it. Don't be mad because Ken didn't make you rich as quick as you would've liked. As unhappy as I am with this company if shares were trading right now I would probably be buying more

[hobbymd]

Not Gerald Slaughter, this is a troll.

Apparently Milky missed my rant last week bitching at Ken for more info

But honestly, this is the dumbest shit I've ever heard - suing the company for having problems and delays? This is risky stuff, deal with it. Don't be mad because Ken didn't make you rich as quick as you would've liked.

it seems you are the idiot here, this is not a delay, Ken was straight up lying about progress and shipment of miners. Having delays/problems is very different from going back on your own words and keep blowing smoke up investors a$$

with that said, here is good start to put some pressure on Slaughter family to tell the truth to us investors of what happened exactly and why took him until this weeks to tells that we are basically at square one.

City of Springfield, MO
City Attorney

Civil Division
840 Boonville Avenue
Fifth Floor
Springfield, MO 65802
417.864.1645
email:city@springfieldmo.gov

Prosecutor's Division
625 North Benton Ave
Springfield, MO 65802
417.864.1892
417.864.2026 (fax)

[thefunkybits]

Ken was being tricky/smart with his words, he didn't say anything about shipping miners. So many assumptions are going on here and theres nothing you can legally do to Ken for keeping quiet about what's going on behind the scenes...

Are any of you "shareholders" living in the US? Again, I wish you goodluck

[hobbymd]

Ken was being tricky/smart with his words, he didn't say anything about shipping miners. So many assumptions are going on here and theres nothing you can legally do to Ken for keeping quiet about what's going on behind the scenes...

Are any of you "shareholders" living in the US? Again, I wish you goodluck

no point to argue with a narcissist person. You really think, taking close to 10M USD from people and not talking to them about what happened to their money and simply say NDA, the government will leave you alone?!? 

go read this first,
http://www.sec.gov/litigation/complaints/2013/comp-pr2013-132.pdf 

[zefyr0s]

Exact same responses people gave during the Labcoin scam...'don't get authorities involved it'll just cause more trouble and we'll end up with nothing'. Turns out that delay cost everyone big time. Hope people learned something between then and now.... we need to pressure Active Mining until they give us real info, and don't take no for an answer.

Difference being of course, obvious for people that aren't completely inept at thinking, is that we know who is behind the show. You lot had no idea who was even behind labcoin for so long. You had inklings, but had never even seen the person connected to an actual identity. Honestly all VE's facebook digging did is cement the fact that you are dealing with a real person, with real connections that are able to be contacted. Not labcoin 2.0, at all.

[hobbymd]

Exact same responses people gave during the Labcoin scam...'don't get authorities involved it'll just cause more trouble and we'll end up with nothing'. Turns out that delay cost everyone big time. Hope people learned something between then and now.... we need to pressure Active Mining until they give us real info, and don't take no for an answer.

Difference being of course, obvious for people that aren't comopletely inept at thinking, is that we know who is behind the show. You lot had no idea who was even behind labcoin for so long. You had inklings, but had never even seen the person connected to an actual identity. Honestly all VE's facebook digging did is cement the fact that you are dealing with a real person, with real connections that are able to be contacted. Not labcoin 2.0, at all.

care to explain this

Rip-off Report

http://www.ripoffreport.com/r/virtual-mining-corp/springfield-missouri-65802/virtual-mining-corp-vmc-ripoff-by-virtual-mining-corp-vmc-bitcoin-mining-company-spring-1107833

[zefyr0s]

Oh boy, a completely proofless claim by a random on a website that has the most ghostery blocked ad-connections that I've ever seen on a website (site literally crashed my firefox last time I went there with a script I could barely stop executing.) How the fuck can I explain that?

How do I know half the people posting here and saying yes, and calling for action, posting lawyers information (why don't you call them instead of passing the buck?) aren't shills for competitors? The claim saying funky was Gerald was hilarious. Thinking sarcasm is truth as a mistake is innocent enough. But knowing that it is sarcasm and making a claim that it is truth to attack someone's post validity is just insane.

[zumzero]

The only scam I see around here is the fact that a non shareholder with a personal vendetta is trying to stir up shit and cause trouble and given that half a dozen 'yes' votes are all from crumb's many faces and the rest are from ActM competitors and Asic Miner fan boys, what we have ladies and gentlemen is a nominee for the funniest bitcointalk thread of the year!  Lol.  

Seriously guys, get real.  'Let's sue Ken, but hold on won't he spend our Bitcoins on paying his lawyer to defend himself?'.  The first lawyers office you went into would laugh you out the building for Pete's sake.  Total hysteria and frankly quite embarrassing.  Kids, you can't sue a company because they informed you they are behind schedule and have experienced issues with a sub contractor and you are butt hurt because you can't cash in any bitcoins yet for some spendies now that Bitcoins are $1000 a pop.  Life lesson 1:  life can seem a bit unfair and the answer is seldom to sue.  

[mannybitcoins]

The only scam I see around here is the fact that a non shareholder with a personal vendetta is trying to stir up shit and cause trouble and given that half a dozen 'yes' votes are all from crumb's many faces and the rest are from ActM competitors and Asic Miner fan boys, what we have ladies and gentlemen is a nominee for the funniest bitcointalk thread of the year!  Lol.  

Seriously guys, get real.  'Let's sue Ken, but hold on won't he spend our Bitcoins on paying his lawyer to defend himself?'.  The first lawyers office you went into would laugh you out the building for Pete's sake.  Total hysteria and frankly quite embarrassing.  Kids, you can't sue a company because they informed you they are behind schedule and have experienced issues with a sub contractor and you are butt hurt because you can't cash in any bitcoins yet for some spendies now that Bitcoins are $1000 a pop.  Life lesson 1:  life can seem a bit unfair and the answer is seldom to sue.  

So you have no problem with Ken lying to us for months?

[Vigil]

The only scam I see around here is the fact that a non shareholder with a personal vendetta is trying to stir up shit and cause trouble and given that half a dozen 'yes' votes are all from crumb's many faces and the rest are from ActM competitors and Asic Miner fan boys, what we have ladies and gentlemen is a nominee for the funniest bitcointalk thread of the year!  Lol.  

Seriously guys, get real.  'Let's sue Ken, but hold on won't he spend our Bitcoins on paying his lawyer to defend himself?'.  The first lawyers office you went into would laugh you out the building for Pete's sake.  Total hysteria and frankly quite embarrassing.  Kids, you can't sue a company because they informed you they are behind schedule and have experienced issues with a sub contractor and you are butt hurt because you can't cash in any bitcoins yet for some spendies now that Bitcoins are $1000 a pop.  Life lesson 1:  life can seem a bit unfair and the answer is seldom to sue.  

So you have no problem with Ken lying to us for months?

He doesn't because he works for ActM... his job is to come on here to pump ActM and criticize anyone who doubts ActM.

[zefyr0s]

I've had enough baseless claims without any supporting information for the night. Time to watch 'mah stories.'

[zumzero]

Vigil, I like you.  I really do.  But don't go making accusations like that mate.  You are completely incorrect and are out of order saying that.  If you want to accuse me of having the ability to find the silver lining on every cloud then I plead guilty.  I am just as disappointed as everyone else about not hashing yet and yesterday's setback is a killer for me because I really need some cash right now and was banking on being able to sell off a few shares.  I'm in the shit financially because of this, but I lift my head and move on and find another way to deal with things.  With respect, this negative sentiment started immediately after your theory of us hashing was disproven just over a week ago.  You had lots of people genuinely convinced, myself included, that the Eligius 24th miners were ours.  Ask yourself if yesterday's announcement would have had the same effect if shareholders hadn't gone through the roller coaster of your making one week before this shit storm.  You are not to blame and are in no way responsible, I am merely pointing out that accusing me of being connected with ActM is as wrong as believing we were already hashing.

[zumzero]

The only scam I see around here is the fact that a non shareholder with a personal vendetta is trying to stir up shit and cause trouble and given that half a dozen 'yes' votes are all from crumb's many faces and the rest are from ActM competitors and Asic Miner fan boys, what we have ladies and gentlemen is a nominee for the funniest bitcointalk thread of the year!  Lol.  

Seriously guys, get real.  'Let's sue Ken, but hold on won't he spend our Bitcoins on paying his lawyer to defend himself?'.  The first lawyers office you went into would laugh you out the building for Pete's sake.  Total hysteria and frankly quite embarrassing.  Kids, you can't sue a company because they informed you they are behind schedule and have experienced issues with a sub contractor and you are butt hurt because you can't cash in any bitcoins yet for some spendies now that Bitcoins are $1000 a pop.  Life lesson 1:  life can seem a bit unfair and the answer is seldom to sue.  

So you have no problem with Ken lying to us for months?

I don't see what you do.

[Mabsark]

The only scam I see around here is the fact that a non shareholder with a personal vendetta is trying to stir up shit and cause trouble and given that half a dozen 'yes' votes are all from crumb's many faces and the rest are from ActM competitors and Asic Miner fan boys, what we have ladies and gentlemen is a nominee for the funniest bitcointalk thread of the year!  Lol.  

Seriously guys, get real.  'Let's sue Ken, but hold on won't he spend our Bitcoins on paying his lawyer to defend himself?'.  The first lawyers office you went into would laugh you out the building for Pete's sake.  Total hysteria and frankly quite embarrassing.  Kids, you can't sue a company because they informed you they are behind schedule and have experienced issues with a sub contractor and you are butt hurt because you can't cash in any bitcoins yet for some spendies now that Bitcoins are $1000 a pop.  Life lesson 1:  life can seem a bit unfair and the answer is seldom to sue.  

So you have no problem with Ken lying to us for months?

I don't see what you do.

Then open your eyes.

PROGRESS REPORT

As of November 30th 2013

...

Shipping:

We have this last week shipped our first products to customers.

[SebastianJu]

Lets just get a group of people together who want their coin back and everyone else can just not have theirs. There may not be enough to pay everyone back but there may be enough to pay some of us back.

You believe that some would get paid because they sue and the rest gets nothing? Thats not how it works. If you sue all debts from ken come on the table. There is no "early advantage" for the first sueing. You would get the same per share like any shareholder.

Next thing... how will you prove you have shares?

And... only because people "believe" ken has stolen bitcoins or still have many bitcoins doesnt make it true. You hopefully realize that the IPO was in the height needed to create the chips and miners right? And you know eASIC is paid and and and. Im puzzled where you want to get the money from. Dont tell me from the preorders because im pretty sure customers come first to be refunded before anyone "owning" a part of the company/revenue. Shareholders are last in line. So what will you get out?

[SebastianJu]

PROGRESS REPORT

As of November 30th 2013

...

Shipping:

We have this last week shipped our first products to customers.

My theory is that ken shipped his prototype board. Thats why we dont get any earnings from that board anymore after he tested it. Then he could claim he shipped. Again its cheap rhetorics on his side that i really dislike and i hope he comes to mind. I dont wand to have the next "Duke Nukem Forever". (Google it when you dont see what i mean. Perfectionism...)