[ActiveMining] Official Shareholder Discussion Thread [Moderated]

[knybe]

why the HELL are you deleting my posts now?!

THIS IS AN OBVIOUS LOSS. WAKE UP ZUM.

We should be discussing recovery not bullshit updates and questions.


I quote this from r/BitcoinStocks:

I run a quasi-competing company that is Litecoin based (BuyAHash). Admittedly, I don't fabricate ASICs, but I work with some companies on devices. The incompetence of ActiveMiner is either staggering, or a scam. Any idiot with $2 million USD could EASILY have developed chips within the ActM timeframe by now. Even BFL could do it quicker, and that is saying SOMETHING.

This is a clear and present scam. I would avoid them like the plague.

the truth sucks.

[1713961832]

1713961832

[DeadwoodDan]

Things of substance that happened in the last year (in no particular order)...

• Listing on Bitfunder
• Listing on BTCT
• eASIC announcement
• Move from BTCT to Bitfunder
• Close of Bitfunder
• VE being an asshole
• Partial financial reports
• Millions of USD being raised via preorders
• Partnering with People's ASIC
• Purchasing PA's 55nm FCIC design
• Taping out PA's 55nm FCIC
• Announcing the 28nm FCIC based on PA's 55nm FCIC design
• Cancelling the 55nm FCIC manufacturing
• Ken saying he was open to a third party audit
• Ken telling us that he would be giving a financial report for 2013
• Investors being really confused about why we won't have Q1 financials instead of 2013 financials

Just off the top of my head, of course. Point being, you're distracted from what actually matters at this point. The hint of the day is: It isn't a third party financial audit.

Tune in next time for, "Kleeck answers a really, really, really stupid question!"

By the way, your list of questions for Ken looks good!!

But isn't the point of an external audit to establish which of these things actually happened? Except for a one-page NDA with eASIC and some photos of workbenches, there's no evidence for any of this. Would you trust a financial statement from Ken at this point?

That said, it'd be silly for shareholders to pay for the audit out of pocket.  The company should obviously pay for it.  If it turns out Ken's all legit and above ground, the end result is the same.

Does either the Belize or the US company employ an accounting firm, by the way?  Surely they pay taxes, there's got to be payroll to take care of, etc.  Such documents would go some way towards establishing that actual business has been conducted here and would help document things like those supposed millions in preorders.

[addi]

Just out of curiosity. Is there currently any shareholder pursuing a lawsuit against Ken or Active Mining Corporation?

[Ozymandias]

Just out of curiosity. Is there currently any shareholder pursuing a lawsuit against Ken or Active Mining Corporation?

None that is publicly known

[JoTheKhan]

Just out of curiosity. Is there currently any shareholder pursuing a lawsuit against Ken or Active Mining Corporation?

None that is publicly known

VolcanicEruptor I believe has notified the authorities and is more than likely pressing charges. Shares ~ 50,000? 125BTC at IPO prices.

[bigdude]

At this stage, all I want is TWO things:

1. I want to see my shares, a very large amount of them, safely recorded against my address!
2. I want to receive my built up dividends sent to my address

[minerpart]

These last few days of posts from disgruntled shareholders proves one thing - we never needed the Trolls on here.

There are, and have always been, enough grown adults on here for the doubts to be raised in a clear and direct manner. We can ask our own questions and examine the record of the CEO ourselves.

And infact if you think about it, the presence of the Trolls prevented this sort of doubting consensus from forming earlier - because so many of us were just focused on combating the daily onslaught of Troll posts. We would have been asking these sorts of difficult questions more often and more effectively months ago if it wasn't for the Trolls turning the thread into useless chaos.

If the company succeeds or fails the one thing no-one should ever say is 'the Trolls made some good points'. They just stated the obvious, and caused disruption, and completely got in the way of us all questioning this company how we needed to and should have done months ago.

[shaofis]

Success or not... audit or not... the single largest issue is that investors are stuck and cannot if they wanted divest themselves.

Ken I hope you take this to heart. Let people that want out... out. Let them decide what gains or losses are acceptable.

I'd bet a lot of people hold and have faith in you delivering... but give them the option.

[gogxmagog]

ever get the feeling you've been cheated?
*sigh*
(runs to the mirror to see if "screw me" is written on forehead)
this shit is a joke...only diff is...I'm not laughing.

[WildFire.ca]

Havelock Investments just got a money transmitting licence from the federal government,  we should have our shares trading on there. It's disgusting you don't have us up and trading yet ken, there is money to be made on our own price swings and no one including you can take advantage of that. I don't even want to hear what your excuse is for this, just fix it. Another thing is that people are not willing to wait 3 weeks for a first party audit.. They have been asking you for the financials for months now and this is the next step in that process to get info about what is going on.
https://www.havelockinvestments.com/

[st4nl3y]

I am asking the simple question.. where are my shares and why are we not trading yet?

[zumzero]

Your shares are in the aether and can be returned to you by using the Bitfunder asset list and confirming ownership once Ken commits to a trading platform most likely Chroma Wallet (Colored Coins).  We are not trading yet because Chroma Wallet isn't quite ready for us and Ken has yet to give the same priority to this as the shareholders have.

[st4nl3y]

Your shares are in the aether and can be returned to you by using the Bitfunder asset list and confirming ownership once Ken commits to a trading platform most likely Chroma Wallet (Colored Coins).  We are not trading yet because Chroma Wallet isn't quite ready for us and Ken has yet to give the same priority to this as the shareholders have.

Thank you!

Colored Coins? So we are not going to trade on exchange? How come actm shares on cryptostocks are tradable

[snowdropfore]

http://www.coindesk.com/kncminer-finalizes-design-worlds-first-20nm-bitcoin-asic-miner/

[bitmoon]

hi ken

currently, i have no clue,idea whats the next thing you are doing, i am lost due to this delay,cancelling and long wait.

can you please give us direct share, its already tied to our bitfunder public address, unless you don't want to list on havelock.

ken, remember the transfer day, you said those people who transfer before deadline gets the dividends. so?

you said something about legal issue before (if i remember correctly) which maybe prevented you to list us on CT, therefore how come those share was able to be traded by CT customers?
if that is possible, then why not list us?

either way i am glad we are not on CT.

answer please ken, thanks


edit: ops, btw what happen to wed. weekly updates?
  

[kslaughter]

Weekly Update 3/5/2014

1.  What is the status of our shares?

Active Mining Corporation (Belize) is holding shares for  investors, pending the MSD investigation and colored coins.

2.  How many bitcoins were on MtGox and why where they there to begin with?

VMC's 453 BTC from Pre-Orders.  No Active Mining BTC was lost.

3.  How much did ActM lose on the cancelled 55nm deal?

Less than $1,000 plus Active Mining shares.  At the same time we gained a lot of experience and the help of 2 engineers.  I think in the long run it will be a net positive.

3.1 Were the 55nm ever even taped out? Do you have any proof of their existence?

The 55nm was taped out on a shuttle run.  Production run was not taped out.

3.2 How much money does ACTM have?

~1500 BTC

3.3 How much money did ACTM lose in the 28nm eAsic failure?

This has not be finalized as of this date.  We are working this week a plans which will recover the complete eASIC NRE.

4. Who is on the payroll (What companies are you currently working with and how many people (and who) currently work at VMC/AMC)

We don't release the names of who is on the payroll and we don't release the names of our vendors.

5. Proof of a 55nm deal, proof of a tapeout. They were offered as preorders: https://bitcointalk.org/index.php?topic=297503.msg5129392#msg5129392 and https://bitcointalk.org/index.php?topic=464145.msg5129458#msg5129458

The tapeout was the shuttle run for prototypes.  This was cancelled and transferred to a production run, which was then cancelled also.

6. Intellihash?? Can you please explain what this is/was and how this factors into everything?

Not any more than what has been explained before.

7. Are said financials which are forthcoming going to be prepared to GAAP or IFRS levels? Last time financials were forthcoming they were two lines of text in a monthly update.

Active Mining - No Virtual Mining - Yes

[st4nl3y]

OMG seriously ken? $300000+ of vmc customers money lost? why were the btc on gox at first place?

and you are not "holding" shares for investors, you are simply keeping them hostage while you sell yours!!

[bitmoon]

Weekly Update 3/5/2014

1.  What is the status of our shares?

Active Mining Corporation (Belize) is holding shares for  investors, pending the MSD investigation and colored coins.

can you explain , why CT customer was able to trade ActM shares?  while pending MSD investigation?

did they give you exception to let you list to recover the loss?

thank you

[WildFire.ca]

Why were there coins on GOx Ken?

"No Active Mining BTC was lost."
Who's profit do you think that comes out of.

[kslaughter]

Why were there coins on GOx Ken?

We were using MtGox to process our bitcoin transactions.