[ActiveMining] Official Shareholder Discussion Thread [Moderated]

[neilol-real]

If you're planning a 7 day roll-out, get enough hands to do it in 3.

In this game time is literally money.

This x100

Ken you need to stop over-promising and under-delivering. It's bad for confidence, it's literally the difference between constantly disappointing and pleasantly surprising.

[arctos]

Whats holding up shares being issued on crypto-trade?

[Ozymandias2]

Whats holding up shares being issued on crypto-trade?

Ostensibly the MSD investigation

[thefunkybits]

Whats holding up shares being issued on crypto-trade?

Ostensibly the MSD investigation

As I've said before this is an investigation that will only loop back on itself. I'm confident that nothing will come out of this however a timely resolution may not be in the cards...

What does everyone think of a friendly petition from shareholders to the MSD with the purpose of showing that there's a large group of us that are happy shareholders and that this investigation is in fact the main reason for our worries. Maybe a large outcry (well-worded of course) explaining why this needs to be done ASAP would get our case to the top of the pile?

[stereotype]

Whats holding up shares being issued on crypto-trade?

Ostensibly the MSD investigation

As I've said before this is an investigation that will only loop back on itself. I'm confident that nothing will come out of this however a timely resolution may not be in the cards...

What does everyone think of a friendly petition from shareholders to the MSD with the purpose of showing that there's a large group of us that are happy shareholders and that this investigation is in fact the main reason for our worries. Maybe a large outcry (well-worded of course) explaining why this needs to be done ASAP would get our case to the top of the pile?

Thats going to need solidarity that this thread has probably never seen. 

[VinceSamios]

Whats holding up shares being issued on crypto-trade?

Ostensibly the MSD investigation

As I've said before this is an investigation that will only loop back on itself. I'm confident that nothing will come out of this however a timely resolution may not be in the cards...

What does everyone think of a friendly petition from shareholders to the MSD with the purpose of showing that there's a large group of us that are happy shareholders and that this investigation is in fact the main reason for our worries. Maybe a large outcry (well-worded of course) explaining why this needs to be done ASAP would get our case to the top of the pile?

Better off not feeding the troll... although I agree with the sentiment, drawing attention isn't a good plan.

[Ozymandias2]

Whats holding up shares being issued on crypto-trade?

Ostensibly the MSD investigation

As I've said before this is an investigation that will only loop back on itself. I'm confident that nothing will come out of this however a timely resolution may not be in the cards...

What does everyone think of a friendly petition from shareholders to the MSD with the purpose of showing that there's a large group of us that are happy shareholders and that this investigation is in fact the main reason for our worries. Maybe a large outcry (well-worded of course) explaining why this needs to be done ASAP would get our case to the top of the pile?

This is not a bad idea, but I think it needs to be thought through a bit before we put anything into action. The immediate thoughts that come to mind are: 1) would doing that be an exhibition of Stockholm Syndrome (potentially worsening the issue in their eyes instead of bettering it, 2) How would we prove we are shareholders and not just a cheaply paid army of letter-writers? We hold no shares unless they are verified by Ken (and if we're going to be communicating with the gov, it would have to be some official verification/recognition on Ken's part that our shares are ours) which supposedly wont happen until the investigation is through, which for the sake of the rhyme, is a bit of a catch 22.

Your thoughts?

EDIT: 3) This effort would probably be limited to only the American shareholders (and possibly only Missouri shareholders though I am not at all certain about that), and 4) some people may not be huge fans of the gov (shocking in the bitcoin space I know) so they may want to minimize their communications with it and minimize the connection between their property (the shares) and the government's awareness of their property.

All things considered, it seems like there would be relatively few people to trumpet the cause of ActM/VMC...

[thefunkybits]

All things considered, it seems like there would be relatively few people to trumpet the cause of ActM/VMC...

All it would take is a few large shareholders to get together to have enough of a percentage to be worth it. What makes you say that? At this point shareholders are being held back from verification and trading because of an ongoing investigation, I would simply like to point out to the MSD that their investigation is hurting us more than its helping.

[Ozymandias2]

All things considered, it seems like there would be relatively few people to trumpet the cause of ActM/VMC...

All it would take is a few large shareholders to get together to have enough of a percentage to be worth it. What makes you say that? At this point shareholders are being held back from verification and trading because of an ongoing investigation, I would simply like to point out to the MSD that their investigation is hurting us more than its helping.

Ok, so lets keep going. What would you estimate to be a "enough of a percentage to be worth it"?  Perhaps we can request the MSD to "allow" Ken to verify (even if not necessarily allow them to be traded) our shares as a show of good faith and then that use proof of shares to try to aggregate the percentage from the first question.

[tempestb]

Guys, if you're in the United States you should be very careful about promoting AMC to anyone, especially the MSD.  The MSD investigation is not whether Ken is running a good business or not, it's about selling unlicensed securities.  Which he did.  It's what the business is running on.  Don't freak out, they obviously know that because they read these posts.  They aren't interested in you writing them and saying, "We think it's great that we were able to give money to Ken to run a business and then partake in profit sharing."  Because that's illegal.  In fact, they ARE interested in you telling them that.  They want you to call them and explain that to them.  Seriously...  They do.

The Securities Act can have anyone who promotes such a security facing up-to a 1 million dollar fine and 10 years in prison.  That's not for running it, that's for PROMOTING it.  It likely has no bearing on you if you live in the Netherlands somewhere, but if you're in the United States, shut up.  If you want to reach out to the MSD and provide your information, that's up to you.  But don't post or write them letters saying how this is a good thing.  They take that information to mean you are trying to raise the share value of an unregulated security and therefor you are part of the problem.  

The MSD has a 5 year limit to bring charges, from the first infraction.  So they have about 4 years more to gather information before they charge anyone with anything (If they will.)  It would be stupid on their part to charge someone with something before it lapses because that enables them to gather more evidence and interview more disgruntled investors and purchasers.  So this MSD investigation will likely go on for another 4 years and then either close due to lack of evidence or they will charge Ken and start the court case.

Strap in...  It's going to be awhile.

[thefunkybits]

The Securities Act can have anyone who promotes such a security facing up-to a 1 million dollar fine and 10 years in prison.  That's not for running it, that's for PROMOTING it.  It likely has no bearing on you if you live in the Netherlands somewhere, but if you're in the United States, shut up.  If you want to reach out to the MSD and provide your information, that's up to you.  But don't post or write them letters saying how this is a good thing.  They take that information to mean you are trying to raise the share value of an unregulated security and therefor you are part of the problem.

The MSD has a 5 year limit to bring charges, from the first infraction.  

I don't see how this can do us more damage (I also don't live in the states so im not worried about contacting the MSD). All this "co-conspirator" talk certainly sounds scary but they are simply looking for more information to get a better picture of what's going on.

"if you invested monies and/or bitcoin with Mr. Slaughter, I would be interested in speaking with you further. You can either contact the telephone number below or you can provide me with a contact number for yourself

...

Sincerely,
Scott Johnson, CFE
.....
(573) 751-4704
scott.johnson@sos.mo.gov"

[VinceSamios]

This post, although quoting a troll, is important to share in that the troll is actually apologising and setting the record straight.

Update [April 30 2014]
The refund check (Now cancelled)Sent in Feb turned up today.
 postmark confirms it was sent in Feb and the check number confirms with what ken said it was on pm. So I can't blame him for this delay. The replacement check should arrive soon.

If ken could have just communicated this postage it would have avoided a whole rigmarole for the past 2 months.

In any case I unreservedly apologise to ken in light of this check arriving when all the evidence was pointing to a scam.

[Ozymandias2]

Since the magzy situation is mostly resolved (and will hopefully be completely resolved soon/when the latest check comes in hopefully signed), I think we should ease up on the guy. He was freaking out for good reason, and though he may have taken it a bit far, losing money makes one thinking less straight, I think at this juncture we should forget the "troll campaign" and be glad at the situation's resolution.

[Ozymandias2]

Since the magzy situation is mostly resolved (and will hopefully be completely resolved soon/when the latest check comes in hopefully signed), I think we should ease up on the guy. He was freaking out for good reason, and though he may have taken it a bit far, losing money makes one thinking less straight, I think at this juncture we should forget the "troll campaign" and be glad at the situation's resolution.

I don't think it will be the 'end of it', the end of magzy yes but he is still quoting large numbers of people waiting for their cards that they paid for weeks ago. OR cards that are dead on arrival.

How true that all is I don't know but the fact is right now the biggest damage is being done to this company by Ken and his amateur attitude.

The website is a complete joke and embarrasment. There are products up and for sale that will never be made which is actually illegal. The delivery wait on our orders is laughable when they are supposed to be ready for immediate dispatch. Our reputation is in tatters, thanks exclusively to the CEO. That is unfortunately a fact.

Would YOU buy a mining card from ACTM? I wouldn't and I'm a shareholder.

I am largely in agreement, although with more tempered tongue. The website is absolutely an issue, the products that are not in hand should categorically NOT be listed. The fact that cards are arriving late or DoA is absolutely unacceptable and seems to suggest there is little quality control/burn-in (though this may be due to the time necessary to mount and remove a water cooler, it is not an adequate excuse and a low-cost dedicated employee(s) could be utilized specifically for this function).

You were one of ActM's biggest supporters until several of your posts were deleted and now you are trashing everyone involved, but especially the CEO. You are frustrated, that is understandable and I, and hopefully others, do not fault you for that, but acting in such a fashion at best accomplishes nothing and at worst contributes to the reputation issues to which you allude.

As to your last point, it's funny you mention that, I'm actually considering getting one of the gold rush cards since at 750gh/s at 1w/gh/s and ~$1500 (including water cooler and psu which can be resold later) it seems like the card will actually roi. Granted I'd first like to hear some success stories about the gold rush cards, but $1500 isn't a life changing amount of money for me to potentially lose.

[WildFire.ca]

Does this mean no dividends for at least 4 more years?

I think ken is waiting around for the government to send him a letter stating there not investigating him any more. They don't even send such letters

[thefunkybits]

Strap in...  It's going to be awhile.

Does this mean no dividends for at least 4 more years?

email scott.johnson@sos.mo.gov and let him know your concerns on this issue!

[minerpart]

You were one of ActM's biggest supporters until several of your posts were deleted and now you are trashing everyone involved,

Please read my post again. I am not trashing anyone, I'm telling it straight. All my posts are being deleted not just some. That is a side issue but it has made me step back and have a fresh look at this situation. It is frankly a joke. This is not a business it is amateur hour. How can a CEO destroy his own companys reputation single handedly over the course of a month? Well, Ken has done it.

[WildFire.ca]

Strap in...  It's going to be awhile.

Does this mean no dividends for at least 4 more years?

email scott.johnson@sos.mo.gov and let him know your concerns on this issue!

I am starting to think it is a good idea to contact the gov and let them know that they are holding us up from getting the shares that we have paid for.

[thefunkybits]

Strap in...  It's going to be awhile.

Does this mean no dividends for at least 4 more years?

email scott.johnson@sos.mo.gov and let him know your concerns on this issue!

I am starting to think it is a good idea to contact the gov and let them know that they are holding us up from getting the shares that we have paid for.

thats what i just did. Try your best to be professional if you do this

Heres a shortened version of my email-


"I am a holder of shares in ActiveMining's Bitcoin farm/profit share. I am a Canadian citizen. I am contacting you because I am concerned for my investment. Although I'm happy with the way the company is running now (products finally shipping and the mining farm being built) the investigation by the MSD is the only thing troubling me. Now that things are finally looking up for this company all I want to do is trade my shares. It's very frustrating being a Canadian citizen and seeing a registered exchange in my country (Havelock) with similar securites trading while our shares are frozen due to an american investigation. In my frustration I would like to point out that the bitcoin world is very fast moving, and it seems as if ACTM/VMC's success is moving faster than the legal system can keep up with. At the time an investigation was filed with your organization many shareholders (including myself) were skeptical of Ken's actions. This is not the case anymore (for most) as Ken is living up to his promises. Ken has stated that we can't verify our shares due to this ongoing investigation, I have heard these things can take years. I'm not sure what I would if our shares were locked up any longer (contacting a lawyer comes to mind but I figured I would contact you directly as this investigation seems to be the cause for my concern). I am very excited for the future of this company but the ongoing investigation of Activemining is leaving a dark cloud on this whole thing"

[drawingthesun]

Strap in...  It's going to be awhile.

Does this mean no dividends for at least 4 more years?

email scott.johnson@sos.mo.gov and let him know your concerns on this issue!

I am starting to think it is a good idea to contact the gov and let them know that they are holding us up from getting the shares that we have paid for.

Look I understand if the shares must be frozen for the next several years rendering no chance of selling them.

However, the dividend must be paid.

Ken, the investigation could last 4 years, this means no trading for 4 years. However you must pay the dividend.

Think about it; if you essentially pay nothing back to us for the next 4 years, do you really think we are just going to sit around and let you keep the dividends?

Ken, you can't not pay your investors a cent for the next 4 years.