[ActiveMining] Official Shareholder Discussion Thread [Moderated]

[Flashman]

I get yer drift, but probably a bad analogy, because every time I've heard of something like that happening, the cop has escorted them to the hospital.

[1713472847]

1713472847

[1713472847]

1713472847

[minerpart]

I get yer drift, but probably a bad analogy, because every time I've heard of something like that happening, the cop has escorted them to the hospital.

lol I guess so, maybe a speeding ticket from a speed camera might be a better one.

Could we get a cop to escort all the shareholders to hospital if the company goes bankrupt? I'm sure DTS atleast will needs some meds to calm down.

[ActM Thread]

knybe,

your views are welcome and have never been deleted. What has been deleted is your Troll-type posts which you have done in the past few days, swearing, insults, and repeated silly and damaging allegations over and over. Your disruption is being censored not your views. Think about it, you have been censored before for similar reasons. Thanks.

And let other people have their views too without calling them names like fanboys etc. Thanks again.

[WildFire.ca]

I would also like to see proof of the investigation and the missing MtGox coins. This is not out of line or inappropriate. We are a publicly traded company and as shareholders Ken is required to produce financials. Either the investigation is holding up our divs and shares or it's providing a good reason to not give us our 's divs and shares. Providing proof of these things that are easily provable with a few minutes of work would only strengthen the company.

@ActM Thread,, You should not have deleted knybe's post, it was a very legitimate question.

[ActM Thread]

@ActM Thread,, You should not have deleted knybe's post, it was a very legitimate question.

The question is fine and he can ask it, but without the disruptive allegations and name calling.

[granitemouse]

@ActM Thread,, You should not have deleted knybe's post, it was a very legitimate question.

The question is fine and he can ask it, but without the disruptive allegations and name calling.

I don't think in this case it was name calling or a disruptive allegation. He was stating that in many cases greed has won out in other cases of Bitcoin and the investor has been screwed. He thinks this could happen here, and I understand the low morale people have after we have constantly been promised things such as our shares being verified within a week and then that repeatedly not happening over and over again. Acknowledging this as a possibility isn't defamatory.

We have no leverage from one day there just being a "sorry guys, too bad for you type situation" that have happened in other cases. Whereas I do believe in Ken, we don't actually know him. We have never met him. The only thing that will return our spirits is having our shares verified and once again tradable. 

I am delighted with their now being progress, but we need to at least have our shares verified. I have a substantial stake in this, when I last checked when it was possible to do so, I think I was something along the sixth largest shareholder.

So to make knybe's question acceptable, then the wording should read

If my predictions are correct, and based on how other bitcoin companies seem to go, greed will win out and we'll never receive shares or dividends.

Ken COULD be working an angle with this investigation and COULD use this excuse to stall or worse, never payout to us.

All Ken has to do is provide proof of this investigation OR verify our shares OR better yet verify and payout dividends and all will be good again.

SOMETIMES unfortuanely greed seems to get the best of most well intentioned people and the nature of bitcoin makes it easier than ever to be greedy.

[emkay47]

So guys its been 25 days , and i have only received 1 board .
Firstly i was told , that they somehow forgot to ship my remaining 4 prospectors , then i was told they are getting ready , and now when i asked Ken to give me the '' Gold Rush '' boards instead of the prospectors , as they are delayed , he said my prospector boards are already packaged , and this was 2 days ago .

I have really lost hope now on receiving my remaining 4 boards .
Now i can officially say , that i was fooled .

I can't believe this is actually happening , that it would require them 12 days to ship out 1 prospector board and 12 more days for nothing more .

I am tired contacting ken and messaging on website , and i am going to withdraw myself from this whole thing .
I am considering my remaining 8000USD to be a bad debt .

I i ever receive my remaining boards , I will post it here .

Thanks Ken .

[kslaughter]

So guys its been 25 days , and i have only received 1 board .
Firstly i was told , that they somehow forgot to ship my remaining 4 prospectors , then i was told they are getting ready , and now when i asked Ken to give me the '' Gold Rush '' boards instead of the prospectors , as they are delayed , he said my prospector boards are already packaged , and this was 2 days ago .

I have really lost hope now on receiving my remaining 4 boards .
Now i can officially say , that i was fooled .

I can't believe this is actually happening , that it would require them 12 days to ship out 1 prospector board and 12 more days for nothing more .

I am tired contacting ken and messaging on website , and i am going to withdraw myself from this whole thing .
I am considering my remaining 8000USD to be a bad debt .

I i ever receive my remaining boards , I will post it here .

Thanks Ken .

Your boards were shipped on Wed.

[emkay47]

So guys its been 25 days , and i have only received 1 board .
Firstly i was told , that they somehow forgot to ship my remaining 4 prospectors , then i was told they are getting ready , and now when i asked Ken to give me the '' Gold Rush '' boards instead of the prospectors , as they are delayed , he said my prospector boards are already packaged , and this was 2 days ago .

I have really lost hope now on receiving my remaining 4 boards .
Now i can officially say , that i was fooled .

I can't believe this is actually happening , that it would require them 12 days to ship out 1 prospector board and 12 more days for nothing more .

I am tired contacting ken and messaging on website , and i am going to withdraw myself from this whole thing .
I am considering my remaining 8000USD to be a bad debt .

I i ever receive my remaining boards , I will post it here .

Thanks Ken .

Your boards were shipped on Wed.

Could you please provide me the tracking number then ?

[Simon Templar]

Emkay, stop hijacking this thread.  Send Ken a pm and deal with you issue privately please.  We are all growing a little tired of this incorrect use of the 'Shareholder Discussion Thread'.  Don't feel you need to update us when your products arrive either.  If this thread becomes a forum for customers to dominate the conversation then it's downhill from there.  Please do not take offense emkay and please understand the point I'm making.  There are other threads for your purpose.  All the best!  


Also, why is DTS making such a fuss over divs?  From mining there are probably 100 btc to split between 10,000,000 shares and at best 50% would get paid out and the other 50% reinvested.  I wouldn't imagine there are any divs getting paid out for hardware sales at this stage and would expect all off the profits be reinvested.  So for DTS's 114,000 shares he's probably due around 0.57 btc.  So, why the fuss DTS?  And for everyone else that's 0.05 btc for every 10,000 shares you own.

[emkay47]

Emkay, stop hijacking this thread.  Send Ken a pm and deal with you issue privately please.  We are all growing a little tired of this incorrect use of the 'Shareholder Discussion Thread'.  Don't feel you need to update us when your products arrive either.  If this thread becomes a forum for customers to dominate the conversation then it's downhill from there.  Please do not take offense emkay and please understand the point I'm making.  There are other threads for your purpose.  All the best!  


Also, why is DTS making such a fuss over divs?  From mining there are probably 100 btc to split between 10,000,000 shares and at best 50% would get paid out and the other 50% reinvested.  I wouldn't imagine there are any divs getting paid out for hardware sales at this stage and would expect all off the profits be reinvested.  So for DTS's 114,000 shares he's probably due around 0.57 btc.  So, why the fuss DTS?  And for everyone else that's 0.05 btc for every 10,000 shares you own.

For sure buddy , I'll come here again after 6 months and will see how much of a 'Shareholder Discussion Thread' it is then !!
If he would sort out my case through PM , i would have not posted it here only in the first place .
And ya i agree customers should not dominate the conversation happening here , about the shares people own which can't be traded only .

[Stuartuk]

about the shares people own which can't be traded only .

You bitch!

[gogxmagog]

Does anyone have any experience, or know of any similar situation; i.e. dealing with regulatory bodies similar to MSD?
I read through the threads here and get such disparate estimations as to how long the process takes (from "next week" to 5-6 years) that I believe none of us have a clue.
I imagine these things can be as long or short as the situation requires, but I don't believe Ken's situation is either as complicated or has been going on for long enough for the forensic accounting and whole picture of ActM situation not to be evident fairly quick to the MSD.
Of course the whole "how do we deal with this bitcoin thingamajiggy" and the fact that the MSD is most likely operating under a huge backlog (like every other judiciary body in the USA) could make estimates of "how long till resolution?" rather difficult, not to mention what must be done to comply when the verdict comes, but is anyone willing to give out a ball-park figure, even a rough estimate? Provided this guess is informed by some sort of actual experience or informed party and not just emotional outbursts from frustrated shareholders or trolls, it would make me more at ease than simply wondering and knowing nothing day after day.
An educated guess would be better than wild conjecture, and since the latter is beginning to spread like wildfire on these forums, something, anything, any clue would be amazing, for my blood pressure at least.

[minerpart]

I don't have time right now but you could try to find press info about any of these concluded cases being opened/first mentioned. Then you might get an idea of how long a case can take based on when it was first mentioned in the press and when the MSD made their ruling.

http://www.sos.mo.gov/securities/orders/

This one might be in the press somewhere:

http://www.sos.mo.gov/news.asp?ID=965

EDIT - BINGO!

Huntleigh’s failure to supervise McClellan and other deficient compliance procedures were discovered during a November 2009 for-cause, on-site audit of the firm led by the Securities Division’s Audit Unit.

and the ruling was made in Dec 2010. So a fairly complex case I would say, 18 people sold 'off the book' houses so 18 contracts to examine, and a company and individual to investigate. That took 12 months from discovery that there were irregularities to completion and ruling. That's very quick in my book. Our case is far simpler I would think. However the issues are not so serious I wouldn't think so we might not be as high a priority as a case like this.

[emkay47]

about the shares people own which can't be traded only .

You bitch!

Ooo..Did that burn !!
Exactly , i have been posting here for the same reason , even i got pissed , like you guys are .
Still agree though , its not a customers thread , so won't be posting here any more .

[minerpart]

I will miss you emkay47! You have been persistent but always polite. Good man. Let us know if you get the boards and show pics please. I hope your box is full this time.

[gogxmagog]

I don't have time right now but you could try to find press info about any of these concluded cases being opened/first mentioned. Then you might get an idea of how long a case can take based on when it was first mentioned in the press and when the MSD made their ruling.

http://www.sos.mo.gov/securities/orders/

This one might be in the press somewhere:

http://www.sos.mo.gov/news.asp?ID=965

EDIT - BINGO!

Huntleigh’s failure to supervise McClellan and other deficient compliance procedures were discovered during a November 2009 for-cause, on-site audit of the firm led by the Securities Division’s Audit Unit.

and the ruling was made in Dec 2010. So a fairly complex case I would say, 18 people sold 'off the book' houses so 18 contracts to examine, and a company and individual to investigate. That took 12 months from discovery that there were irregularities to completion and ruling. That's very quick in my book. Our case is far simpler I would think. However the issues are not so serious I wouldn't think so we might not be as high a priority as a case like this.

thanks for that minerpart, I find this American legal system stuff incredibly confusing and only understand its working at the most rudimentary level, but your info makes sense and answers my question as adequately as I could hope for.

I agree ActM's accounts are fairly simple, plus I believe Ken is being fully cooperative and helpful with the authorities as I also do not believe him to be a crook. The timing of all this really couldn't be worse. ActM performance is blasting off and we're stuck in the regulatory waiting room! I just hope ActM can maintain its rate of progress and hold a good slice of the network long enough to see resolution and trading at last!

don't forget that the MSD may very likely demand all sorts of regulatory hoops to be jumped through when they finish their review which could open a whole new can of worms, both expense-wise and time-wise. Going by those articles you supplied and then adding extra months for compliance measures to go through I will bring your estimation from well under a year, up to just about one year, maybe March 1st 2015, but only because it is safer to over estimate than underestimate in this case.

EDIT- PLEASE BE WARNED - these are merely guesses made by unrelated parties. In no way, shape, or form should any of the dates listed above be confused with official schedules, timelines, or promises from either Activemining, any of its employees, legal representatives, or the MSD and any legal bodies within its jurisdiction!

caveat enough for ya?

[emkay47]

I will miss you emkay47! You have been persistent but always polite. Good man. Let us know if you get the boards and show pics please. I hope your box is full this time.

For sure bro .
I appreciate the support 

[elmwar]

Ken, investors have put a lot of BTC into the company and are now told there is only a fraction of it left.  The financial books for 2013 had to be completed by April 15 for federal taxes.  But you expected your CPA to be finished by April 1.  We're now 25 days past.

Delays happen.  Whatever the reason, you can provide a screen shot of the investors MtGox account balance.  This shouldn't take more than ten minutes.  It will be in your best interest as some are calling this a scam and speaking ill of our company.  That's not good for business.  No one can say this is a scam.  None of the investors know what this is without seeing how you've managed their money.  A properly audited financial report by a licensed CPA is required to put investor concerns behind us.  Until that's possible, proof of transactions and balances must to be posted.  It is after all the investors money.

Take an extra 10 minutes and post a screen shot of the investors MtGox account balance. 
Post more information (proof) every couple of days until the audited financial report is completed. 

[Simon Templar]

I think it's quite telling that Ken has mentioned not wanting to 'throw fuel on the fire' by carrying out actions that may appease some of the more insecure shareholders however would compromise the entire venture.

There are three shareholder points of issue here:

1)  initiate trading of shares
2)  pay dividends to established shareholder accounts
3)  verify shareholder accounts

I won't get into the nitty-gritty of the pros & cons of each of these and how perhaps #3, logically, is more palatable to the authorities, but I will say this;  the person holding the reigns has two choices.  Either play ball with the authorities or don't.  If Ken makes every effort, as he appears to be doing so, to work with the authorities then he has the greatest chance of making his business a success, and importantly, not being shut down by men with guns.   If, on the other hand, he chose (which he hasn't) to instigate any or all of the above listed actions due to shareholder pressure then, in my humble opinion, would most likely ruin it for everyone.

In summary, Ken is keeping schtum, paddling lightly and trying to prevent waves whilst also trying to form a bloody gigantic iceberg made from bitcoin.  Not an easy task when some of you are more inclined to invite Judge Judy onto the upper deck to air our dirty laundry in public.  Hey-Ho.