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Author Topic: [ActiveMining] Official Shareholder Discussion Thread [Moderated]  (Read 629452 times)
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kslaughter
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June 02, 2014, 11:50:17 PM
 #3741

Ken,

At this time, I would be willing to sell the shares I bought from you for .0005 bitcoin each.
I bought just 1000 additional shares on Crypto-Trade recently, but let's just talk about the shares I bought in the original IPO.
Please explain how we shall do this.

The easiest way would be for you to just let me transfer the shares and then you multiply that amount by .0005 and send the bitcoin to an address I will provide.

How long do you think this process will take?

Lorenzo Money

He needs about 20Mill usd to reimburse everyone. In 45 days that could be higher. Maybe he's making it up as he goes along again? This seemed to come from a phone call interview and he didn't even know about this secretary of state ruling so he was put on the spot and under pressure so maybe he got it wrong?

Not if he reimburses in fiat and not bitcoin.   Wink

Hash Fast tried that but it was ruled illegal?

Just worked it out just incase. He will need 3.1 Million USD to reimburse 10 Mill shares at 0.0025 with BTC price at $125 which it was when most people bought in? But again people who bought in at 0.005 when btc was $600 would push the total up to 6Mill USD?

Ken raised about $1,000,000 from the sale of all shares.  

No he raised X BTC, nobody here wants the useless USD.

10 Million shares where not sold at .0025 BTC, the tenders shares will be valued at their original purchase price of .0005 BTC @ ~$100 USD.  The shareholder will have to prove that they purchased the shares from Active Mining not from someone else.

All sharesholders wanting a refund will need to provide their ID information to the Missouri Securities Division.  The shareholders will have to transfer the shares back to Active Mining.

A long time, 15 days for our offer to get approved, if it is ok on the first revision, then 45 days for the offer, then 120 days for the payment.  I have not seen the final order yet, this is based on what I have last seen.

You will be getting ~$.05 X number of shares purchased plus 8% interest from the time of your purchase on the original IPO.
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June 02, 2014, 11:51:29 PM
 #3742

Now that the state is involved why would anyone think for a second that the state would allow for a btc refund.  IT isnt legal tender, and I don't think Mo is one of thise states that allow for gold and silver to be legal tender....let alone btc.  I think fiat plus 8 is great.   Lol. It actually makes sense from a government percentage.    Ken can I be on your side of that deal....lol.  

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LorenzoMoney
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June 02, 2014, 11:53:28 PM
 #3743

Payment has to be in Bitcoin not USD.

100,000 shares should yield 50 Bitcoin in this buy back.
The shares were bought in Bitcoin not USD.

So 0.0005 BTC @ $100 USD per BTC = $0.05 per share. Not even 1/10 of a mBTC. Shame.

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June 02, 2014, 11:54:19 PM
 #3744

Interesting, but if one bought at 0.0025 from ActM on btc-t? Further, can one who bought share from ActM and subsequently sold their shares reclaim the "reimbursement" for the shares that were already sold? Finally, if one had bought X shares from ActM at whichever IPO but then sold them all and subsequently rebought some, what would they be entitled too?

Personally, to me this whole process would be too much of a pain in the ass and I'll be seeing this venture to whichever conclusion it may come too, but I'm sure there are at least a few people interested in the above information.
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June 02, 2014, 11:56:44 PM
 #3745

Payment has to be in Bitcoin not USD.

100,000 shares should yield 50 Bitcoin in this buy back.
The shares were bought in Bitcoin not USD.

So 0.0005 BTC @ $100 USD per BTC = $0.05 per share. Not even 1/10 of a mBTC. Shame.

We involved the Missouri State Government so now they get to decide, doesn't matter what we think they make the laws in their state so wether we agree or disagree about it thats the only thing the Missouri State Government can provide for a refund unless we get a law passed in Missouri making BTC a legal currency. The IRS ruling this year also hurts our case for BTC refunds. I agree that would be the right thing to do but we involved the government so its outside our control.
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June 02, 2014, 11:57:48 PM
 #3746


Since you issued shares at both .0025 and .0005 BTC, with BTC/Dollar prices fluctuating, could you give the actual amount, in dollars, you are planning to pay per share?  As in "I will be paying $3.50 (tree fiddy) per share."

Thanks.



You will be getting ~$.05 X number of shares purchased plus 8% interest from the time of your purchase on the original IPO.


EDIT: which admittedly also answers my own question, but there are certain nuances that it would be nice to clear
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June 02, 2014, 11:58:14 PM
 #3747

Ken,

5 cents a share is totally unacceptable.

Unless this offer is made in bitcoin not USD, I will be calling whomever it is in the Missouri Securities Division and I will be asking that they take a firmer response to this.


The only way I would not take such action would be if you finally got honest in regard to all the financials and if you began to take good advice from those members of our crew here who actually understand engineering.


I have been an early and loyal supporter of your project and deserve better treatment.


Lorenzo Money



Ken,

At this time, I would be willing to sell the shares I bought from you for .0005 bitcoin each.
I bought just 1000 additional shares on Crypto-Trade recently, but let's just talk about the shares I bought in the original IPO.
Please explain how we shall do this.

The easiest way would be for you to just let me transfer the shares and then you multiply that amount by .0005 and send the bitcoin to an address I will provide.

How long do you think this process will take?

Lorenzo Money

https://twitter.com/Lorenzo_Money -- Bitcoin Address: 1EttqaSSCksRAXrwejoChs5zmGjSikN9mC -- http://lorenzomoney.wordpress.com/
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DOGE COIN address: DSYMgD1HfmJFwNuc6Zvhp7PkrVD1QRBsgu
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June 03, 2014, 12:00:18 AM
 #3748

0.05 usd per share is pathetic, if btc is at 1k by then that is a bad deal?

Then don't get a refund.

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June 03, 2014, 12:00:27 AM
 #3749

Lol.  I have a feeling payment will be something like the Cherokee Nation vs. The state of Georgia.....it is out of their jurisdiction.  Better for the company to pay in fiat and side with the state in this case.  Btc as a payment will be out of jurisdiction.....or so will a courtcase say ....say in a year

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June 03, 2014, 12:00:43 AM
 #3750

Wow this is turning into an even shittier shit fest than I could've imagined.

Thanks Ken!

Like a boss.
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June 03, 2014, 12:01:57 AM
 #3751

Wow this is turning into a shittier shit fest then even I could've imagined.

Thanks Ken!

Like a boss.

Haha, it's what you guys wanted.

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June 03, 2014, 12:04:33 AM
 #3752

0.05 usd per share is pathetic, if btc is at 1k by then that is a bad deal?

Then don't get a refund.

I'm just saying, is that ok?

It's fair by the laws of Missouri. While Ken did have a lot of control over ActM, he both evidently and expectedly did not have the same control over said laws.
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June 03, 2014, 12:07:35 AM
 #3753

Ken,

5 cents a share is totally unacceptable.

Unless this offer is made in bitcoin not USD, I will be calling whomever it is in the Missouri Securities Division and I will be asking that they take a firmer response to this.


The only way I would not take such action would be if you finally got honest in regard to all the financials and if you began to take good advice from those members of our crew here who actually understand engineering.


I have been an early and loyal supporter of your project and deserve better treatment.


Lorenzo Money



Ken,

At this time, I would be willing to sell the shares I bought from you for .0005 bitcoin each.
I bought just 1000 additional shares on Crypto-Trade recently, but let's just talk about the shares I bought in the original IPO.
Please explain how we shall do this.

The easiest way would be for you to just let me transfer the shares and then you multiply that amount by .0005 and send the bitcoin to an address I will provide.

How long do you think this process will take?

Lorenzo Money


This is what they came up with, it is what the law in Missouri states, you get your money back plus 8%/year interest.  So, if you don't want their deal keep your shares, your choice.
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June 03, 2014, 12:10:40 AM
 #3754

Ken,

I heart u.   Kiss   well played playa!!!!

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noah tall
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June 03, 2014, 12:12:07 AM
 #3755

5 cents a share is totally unacceptable.

Unless this offer is made in bitcoin not USD, I will be calling whomever it is in the Missouri Securities Division and I will be asking that they take a firmer response to this.


Lorenzo,

Allow me to play devil's advocate for a moment:

If the current BTC price was $1.00 instead of $666.00 would you be requesting a BTC-based refund?

If you paid .0005 BTC when BTC was $100, you paid $.05 per share

If you buy shares at the current asking price of .000069 that is $.046

just sayin...

Jasun7211
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June 03, 2014, 12:16:15 AM
 #3756

Ken had two separate IPOs, one @.0005 and one @.0025.
The people who bought his second IPO are getting 20 cents on the dollar.  Either MSD is not aware of this, or Ken is lying again Smiley

I'd imagine both ipo s would be the same as the first ipo had a much lower BTC/USD price.  Remember you guys need to look at this from the establishment's view.  Business views arn't the state's.  The state just needs to be legaly sufficient!!

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Ozymandias2
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June 03, 2014, 12:18:38 AM
 #3757

Ken had two separate IPOs, one @.0005 and one @.0025.
The people who bought his second IPO are getting 20 cents on the dollar.  Either MSD is not aware of this, or Ken is lying again Smiley

I'd imagine both ipo s would be the same as the first ipo had a much lower BTC/USD price.  Remember you guys need to look at this from the establishment's view.  Business views arn't the state's.  The state just needs to be legaly sufficient!!

Then the first IPO should be less than 0.05cents/share and the second IPO should be more than 25cents/share correct?

Though again, this is largely academic speculation at this point until it is confirmed by either Ken or the MSD
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June 03, 2014, 12:21:16 AM
 #3758

Ken had two separate IPOs, one @.0005 and one @.0025.
The people who bought his second IPO are getting 20 cents on the dollar.  Either MSD is not aware of this, or Ken is lying again Smiley

I'd imagine both ipo s would be the same as the first ipo had a much lower BTC/USD price.  Remember you guys need to look at this from the establishment's view.  Business views arn't the state's.  The state just needs to be legaly sufficient!!

If investors purchased shares (not tendered shares from the first IPO) in the second IPO, they will be getting ~$.25 per share, provided they purchased them direct from Active Mining.
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June 03, 2014, 12:22:03 AM
 #3759

Ken,

5 cents a share is totally unacceptable.

Unless this offer is made in bitcoin not USD, I will be calling whomever it is in the Missouri Securities Division and I will be asking that they take a firmer response to this.


The only way I would not take such action would be if you finally got honest in regard to all the financials and if you began to take good advice from those members of our crew here who actually understand engineering.


I have been an early and loyal supporter of your project and deserve better treatment.


Lorenzo Money



Ken,

At this time, I would be willing to sell the shares I bought from you for .0005 bitcoin each.
I bought just 1000 additional shares on Crypto-Trade recently, but let's just talk about the shares I bought in the original IPO.
Please explain how we shall do this.

The easiest way would be for you to just let me transfer the shares and then you multiply that amount by .0005 and send the bitcoin to an address I will provide.

How long do you think this process will take?

Lorenzo Money


This is what they came up with, it is what the law in Missouri states, you get your money back plus 8%/year interest.  So, if you don't want their deal keep your shares, your choice.

So if i keep my shares ,i will get dividends in next months/years?

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June 03, 2014, 12:27:24 AM
 #3760

Ken had two separate IPOs, one @.0005 and one @.0025.
The people who bought his second IPO are getting 20 cents on the dollar.  Either MSD is not aware of this, or Ken is lying again Smiley

I'd imagine both ipo s would be the same as the first ipo had a much lower BTC/USD price.  Remember you guys need to look at this from the establishment's view.  Business views arn't the state's.  The state just needs to be legaly sufficient!!

If investors purchased shares (not tendered shares from the first IPO) in the second IPO, they will be getting ~$.25 per share, provided they purchased them direct from Active Mining.

I never had access to the .0005 IPO, only the .0025 which I bought on btc-tc.

What then?
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