[ActiveMining] Official Shareholder Discussion Thread [Moderated]

[kslaughter]

I'm thinking about purchasing an additional 100k , but it's a gamble right now.  Share price is super cheap and the slightest bit of good news can move them up in a positive way

+1

It's amazing to think I could almost double my entire stash of ActiveMining at these price points. Kinda sad.

Might be sad when you don't double your stash.

[1714773525]

1714773525

[1714773525]

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[1714773525]

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[kslaughter]

...
I have not purchased any shares at this point.

Has AMC / VMC purchased any shares?

Thanks Ken for clarifying.

If Ken had the cash flow to purchase some of these shares it would be in the companies and thus investors best interest that he does so. But of course you'd have to measure the use of funds comparing the other opportunity costs vs the decrease in outstanding liabilities. Right now I'm assuming Ken needs the funds to continue to evolve the business and that decreasing future liabilities are a ways down on the list.

No AMC/VMC has not purchased any shares at this point.

[ASKen]

Hi Ken,

Many thanks for agreeing to a structured weekly Q&A.  Due to the limited response from shareholders ASKen decided to delay sending you this week's questions by one day.  In future you will receive this pm on a Monday for publishing with your Weekly Wednesday Update.  

ASKen encourages you to give full responses to every question along with any supporting data you can provide.  This Q&A has been structured to ensure that questions which have not been given your full attention will be represented the following week and if a satisfactory response is still not forthcoming you will be asked to explain your reasons for withholding information.

Please do not send your answers to the ASKen account so as to avoid any possible conflict of interests now that shares are trading again.

Regards,

ASKen


SECTION 1 - THIS WEEK'S QUESTIONS
Here are the shareholder's questions with the most frequently asked at the top of the list.  Some questions are copy & pastes, others may have been edited by ASKen.

A. Financials and related

(i)   Do we expect to, or have we already received money from eASIC for a partial refund?  If so please provide figures.  If not could you give a quick run down on what happened.  
(ii)  When can we expect a financial report?
(iii)  How many Gold Rush & Prospector cards do you have in hand?
(iv)  Could you approximate the revenue from selling all the cards in one month assuming the BTC price stays the same?
(v)   When will the first dividends be paid out?  How will you calculate how much to pay per share and what is that percentage figure?
(vi)  Are there any outstanding refunds still to be paid?  If so how much and when will they be honoured?
(vii)  How much of ActM/VMCs assets were exposed as a result of the acquisition of People's Asic?

B. Website & Chip design

(i)   Why hasn't the website been updated given that it's high priority and relatively easy to do?  When will the website be brought up to date?
(ii)  What is the status of ActM's asic development? Is ActM still working on its own 28nm chip? Specifically, have we entered into a contractual relationship with a fab and a semiconductor company? And if so, when can we expect to have physical chips on hand?
(iii)  If you are working on developing a 28nm chip, when will it be ready and how competitive will it be against, say HASHFAST's offering?

C. Mining Farm

(i)  Please detail a schedule for deployment. When are we expected to reach 200TH, 300TH, 400TH,.. etc?
(ii)  Are you working on starting a second mining farm given the limitations experienced by the first one?
(iii)  What are your data center plans. Your current facilities are no where near adequate to meet your goals. How are you going to resolve this what steps have been taken and what steps will be taken to insure that you can scale this operation?

D.  Miscellaneous

(i)  HASHFAST are having real issues at present.  They seem to be stock rich and cash poor.  Is this going to be an issue for ActM?  Are we guaranteed to receive the stock we require to stay in business?
(ii)  What benefits has the People's Asic team brought to the table and what are they actively working on?
(iii)  Are you advertising VMC machines anywhere?  Are there plans to do so?
(iv)  When will you update the operational plan given that so much has changed in the last year.  Potential and current shareholders require this in order to decide the risk going forward.
(v)  Ken has said that we are using our own contractor for creating the boards. However Vince in his video explains that it's highly likely the boards are just being built by Hashfast.  Can Ken please clarify?
(vi)  In case the chances to make more coins out of the coins available are rather slim... will you stop spending them and stop ActM by paying out the remaining funds as divs or will you try anything till the end even when its uncertain that the plans will work?


SECTION 2 - QUESTIONS FROM PREVIOUS WEEK WHICH REQUIRE FURTHER ATTENTION
In order to ensure all shareholder's questions are given full answers, this section will be used to follow up on those questions that shareholders require further attention from Ken.  

No content this week

SECTION 3 - OUTSTANDING QUESTIONS FROM SECTION 2
If any questions make it into this section it will be clear that Ken has reasons for withholding information from shareholders.  Here he will be asked to give those reasons without having to reveal sensitive information.

No content this week

[drawingthesun]

everyone knows the blundering ineptness that has bestowed this failed venture.

I agree that it would most likely be a mistake to buy any shares right now, however if the price keeps going lower and lower it'll approach the monthly dividend.

Also we are hashing at one thousandth of the network, I would say this venture is failing but I couldn't say it has failed. We have a decent hashrate.

We do need PHs level power online very soon though.

[thefunkybits]

Might be sad when you don't double your stash.

You said crap like this back in November...

How about you start fixing the website, or at the very least removing items that aren't for sale. Give us a small small reason to "double our stash" please

[kleeck]

New products and services added to the store.

I see the price of the GoldRush has been further reduced.

[shaofis]

I see the price of the GoldRush has been further reduced.

Is the price really the problem? Sure you might pick up a few quick sales at smaller margins but until the large issues are addressed (customer refunds, websites, etc) it just feels like the wrong changes.

[zumzero]

I think there's a good case to argue that with a functioning website Ken wouldn't need to reduce the price to stimulate sales.

There has to be a reason why he can't get it updated that he's not telling us, otherwise I can't imagine why it has not yet been done.  This is killing us.  

Is it just me or is this a first for Bitcoin?  A mining company who can't sell in stock products?

Do we need to phone Gordon Ramsay yet? 

[drawingthesun]

There has to be a reason why he can't get it updated that he's not telling us, otherwise I can't imagine why it has not yet been done. 

I must admit that when considering this investment I did not count "unable to delete old products that will never exist from webstore" being among the major hurdles this venture would have to overcome to be successful.

[gujo82]

Was trying to place an order for 2 goldrush units, but i cant seem to get past the shipping info, it will just stop at "retrieving information", and then nothing shows up, not allowing me to select shipping to sweden   


worked earlier today, thats the sad thing...

doesnt give a very good impression sadly - sharetransfer email not working, unable to place orders on the website.. 

[zumzero]

For all our criticisms it's nice to see that Ken & Co. continue to search for ways to create business... this is good to see..  

Gold Rush PCB Assembly $749

Fast-Hash One Gold Rush PCB Assembly. We are currently offering Parts and assembly for HashFast chip supplies. We will be taking consigned chips for Assebly at our Construction Management contractor. This is a great solution should you have purchased chip only from HashFast and you are looking at getting this on a PCB for mining.  This Option includes One PCB Blank, All components, Assembly, Board Testing and Engineering Test. You will in turn recive a fully functional board and chip unit.


Gold Rush PCB Bulk Order $199

Fast-Hash One Gold Rush Blank PCB. This is a 12 Layer engineered board sample that is currently in production for our Gold Rush Fast Hash One boards. It is based on a Reference design from HashFast Evo Yoli boards. We have a continunious supply of these in our production facility, PCB Fab as well as Engineering Sample available. Email for bulk order or Assembly Pricing.


Fast-Hash One Gold Rush $849

Long awaited 28nm 750 GH/s mining boards have arrived. The 750 /GHs mining cards that are 28nm ASIC powered. Board availability is in supply chain and will continue. We will only sell commited stock on a first come fist serve basis. THIS IS NOT A PRE-ORDERED PRODUCT.

http://virtualminingcorp.com/shop1/index.php?controller=new-products

[bitlind]

For all our criticisms it's nice to see that Ken & Co. continue to search for ways to create business... this is good to see..  

Gold Rush PCB Assembly $749

Fast-Hash One Gold Rush PCB Assembly. We are currently offering Parts and assembly for HashFast chip supplies. We will be taking consigned chips for Assebly at our Construction Management contractor. This is a great solution should you have purchased chip only from HashFast and you are looking at getting this on a PCB for mining.  This Option includes One PCB Blank, All components, Assembly, Board Testing and Engineering Test. You will in turn recive a fully functional board and chip unit.


Gold Rush PCB Bulk Order $199

Fast-Hash One Gold Rush Blank PCB. This is a 12 Layer engineered board sample that is currently in production for our Gold Rush Fast Hash One boards. It is based on a Reference design from HashFast Evo Yoli boards. We have a continunious supply of these in our production facility, PCB Fab as well as Engineering Sample available. Email for bulk order or Assembly Pricing.


Fast-Hash One Gold Rush $849

Long awaited 28nm 750 GH/s mining boards have arrived. The 750 /GHs mining cards that are 28nm ASIC powered. Board availability is in supply chain and will continue. We will only sell commited stock on a first come fist serve basis. THIS IS NOT A PRE-ORDERED PRODUCT.

http://virtualminingcorp.com/shop1/index.php?controller=new-products

Search for alternate ways other than the obvious??? are you kidding me??? 

Here are simple ways to fix the lack of sales....

1.) Fix the website
2.) Fix the website
3.) Fix the website

Done...

There can be alternate ways to secure sales, but the existence of alternate ways does not mean you ignore the most obvious route.  Come on Zum, admit it, that website is a laughing stock and represents at the macro level how stupid all of this really is with Ken and Co.

[kslaughter]

Was trying to place an order for 2 goldrush units, but i cant seem to get past the shipping info, it will just stop at "retrieving information", and then nothing shows up, not allowing me to select shipping to sweden   


worked earlier today, thats the sad thing...

doesnt give a very good impression sadly - sharetransfer email not working, unable to place orders on the website.. 

Ok, I will fix that right now.

[zumzero]

bitlind, I have been as vocal as anyone about the website issues so there is nothing I need to 'admit'.

Please consider these comments I made one hour and six posts back..

I think there's a good case to argue that with a functioning website Ken wouldn't need to reduce the price to stimulate sales.

There has to be a reason why he can't get it updated that he's not telling us, otherwise I can't imagine why it has not yet been done.

EDIT - The question is; has Ken seen a gap in the market?  Can Hashfast's misfortune play into our hands?  With large orders for PCB assembly as a new revenue stream we could turn a tidy profit, no?
Remember, Ken has a working board so has proven he can produce 750 GH miners with a Hashfast chip.  How many hashfast chips are going to be looking for a new PCB home soon?  This has nothing to do with the ongoing website issue which I agree needs urgent attention.

[bitlind]

bitlind,  are you even reading this thread or just your own posts? I have been as vocal as anyone about the website issues so there is nothing I need to 'admit'.

Please consider these comments I made one hour and six posts back..

I think there's a good case to argue that with a functioning website Ken wouldn't need to reduce the price to stimulate sales.

There has to be a reason why he can't get it updated that he's not telling us, otherwise I can't imagine why it has not yet been done.

EDIT - The question is; has Ken seen a gap in the market?  Can Hashfast's misfortune play into our hands?  With large orders for PCB assembly as a new revenue stream we could turn a tidy profit, no?

I read the thread, your tip toeing around egg shells is noted.

"I think there's a good case to argue..."  Talk about putting it oh so delicately.  There is no thinking, or debate, or arguing, there is no case to be made here for it, only fact.  Your usage here shows how you are seemingly afraid to just come out and say it - the site is horrible, and it is his fault.

"I think there's a good case to argue that the color red is in fact red."  See how ridiculous that sounds?  Im comparing the terms used here.

There is no case to be made, there is only fact.  The website is a sad tale as to what Actm is, that is what I meant by admit it.  Don't dance around the subject like Michael Flatley, state it for what it is.

"There has to be a reason why he can't get it updated...."  Again, egg shells, apologetic as it sounds.  Why are you an apologist for this?  How can you even apologize for it?  There has to be a reason?  How about there is a reason, and the simplest of answers is most likely the correct one.

If there was this magical reasoning don't you think your CEO would be all over that magical reason and using it for his reasoning (see: excuse) as to why the website looks like my nephew threw it together?  regardless of reason, what could possibly cause a corporation driven by sales to NOT make their website the most proper functioning site for their products?  There are some pretty horrendous sites out there that sell goods, but none like this.  They at least attempt it, Ken doesn't even bother.  I keep hitting this topic, but Lewicki had the site... it was amazing!  I saw it first hand, he was proud to show it off.  Ken's simple mind just said "no I cant use it, because I use prestashop" - so far that has been the only reasoning ever given as to that site.

So I ask again, how can you be an apologist for this?  Your rhetoric dances around the obvious, that is why I say or use terms such as 'admit' it... because you aren't.  You just dance around, form possible reasoning as to why things are so irrational with your CEO.  I know why you do, I did it too, but eventually you have to realize what this is right?  So like I said, admit it, stop dancing around it and making excuses for it.

[zumzero]

bitlind, firstly a big LOL to your last, from me.    Secondly, I'm too long in the tooth to get drawn into infantile debates anymore, where we try to get one up on each other and demonstrate our literary prowess and yet manage to lose sight of the important issues.  Good luck.

If you want to discuss anything with me, try this....

The question is; has Ken seen a gap in the market?  Can Hashfast's misfortune play into our hands?  With large orders for PCB assembly as a new revenue stream we could turn a tidy profit, no?
Remember, Ken has a working board so has proven he can produce 750 GH miners with a Hashfast chip.  How many hashfast chips are going to be looking for a new PCB home soon?  This has nothing to do with the ongoing website issue which I agree needs urgent attention.

Regards,

zumzero

[Scientist, Futurist, Transhumanist & Apologist]  

[bitlind]

bitlind, firstly a big LOL to your last, from me.    Secondly, I'm too long in the tooth to get drawn into infantile debates anymore, where we try to get one up on each other and demonstrate our literary prowess and yet manage to lose sight of the important issues.  Good luck.

If you want to discuss anything with me, try this....

The question is; has Ken seen a gap in the market?  Can Hashfast's misfortune play into our hands?  With large orders for PCB assembly as a new revenue stream we could turn a tidy profit, no?
Remember, Ken has a working board so has proven he can produce 750 GH miners with a Hashfast chip.  How many hashfast chips are going to be looking for a new PCB home soon?  This has nothing to do with the ongoing website issue which I agree needs urgent attention.

Fair enough, ignore the post and contradict all at once.

If those are the only questions we are allowed to debate I will debate them with you.

has Ken seen a gap in the market?

No he has not, what this has become is a gasp at trying to capitalize on a gap yet making more mistakes in the process.  I agree there is a massive demand there that needs to be fulfilled, and Actm could fulfill it, if the right people were running the show.

Can Hashfast's misfortune play into our hands?

No, it will play into others hands.  It could play into ours, but it will not looking at the history.

With large orders for PCB assembly as a new revenue stream we could turn a tidy profit, no?

For the short term it could be massive, long term relationships could be developed and revenue could see longterm increases.  However, trust is so badly in the tank who would send Ken their chips?  If I have 10k chips, or any amount of chips, had the capital to procure those chips, I wouldn't be taking on even more risk by sending to this guy.  I would secure my own engineering firm to produce the boards I need... not someone who broke trust with so many and hurt his image.  We can all agree, the image is very damaged.

How many hashfast chips are going to be looking for a new PCB home soon?

Thousands, and Ken will not be the only one trying to produce boards for them.  Again, trust is a massive issue here, image is in the tank, confidence is zero.  zumzero!

[kroy101]

What happens if you DON'T ask for your assets to be transfered to Crypto Trade?

You lose them?

You don't lose them but you don't get dividends?

Nothing happens but you will someday get another chance to trade them?


I look at the prices assets go in CT right now and my head explodes.
0.000078   

My faith in AM is diven my MANLY TEARS

I haven't seen answers to these questions yet, but the end of the "migration" of shares is May 21st.  At which point (theorhetically) we would be greenlit to begin receiving dividend payments.

I would love to have this answered: do we lose anything if we DON'T transfer the shares now? is it "mandatory"?  will divs be paid both to transfered share holders and to those that did not do anything before 21 May?

clock is ticking and I don't know what to do 

[zumzero]

@ bitlind   My British sarcasm is lost on you and it's fine that you misinterpret it.  I am diplomatic by nature and am many years your senior so please do not allow your feathers to get quite so ruffled by my writing style and intentions.

I need to agree with your sentiment though.  Your criticisms are valid and we all wished that we'd invested in a company that took us to the Moon and was landed by Neil Armstrong with just seconds of fuel remaining.  But that is not the case and life doesn't work out the way you want it to sometimes (ACTUALLY MOST TIMES).  Ken has failed in a number of aspects of this business and yes the website is a f**king shambles however, there is one crucial underlying and recurring reality here, which is Ken Slaughter is constantly working on ways to make ActM a huge success.  He thinks outside the box and is a fighter.  I'll say it again;  I will not be surprised at all if he pulls this off.  Something is going to happen (be it the next btc wave, or whatever) and Ken is going to take advantage of it.  Who knows, it might even be the new PCB assembly service.  What a turn up the the books that would be, eh?  As long as Ken continues to be driven by the desire to get us to the Moon and provided he can keep the company above water until the next wave of adoption then I really do see a bright future.

[knybe]

What happens if you DON'T ask for your assets to be transfered to Crypto Trade?

You lose them?

You don't lose them but you don't get dividends?

Nothing happens but you will someday get another chance to trade them?


I look at the prices assets go in CT right now and my head explodes.
0.000078  

My faith in AM is diven my MANLY TEARS

I haven't seen answers to these questions yet, but the end of the "migration" of shares is May 21st.  At which point (theorhetically) we would be greenlit to begin receiving dividend payments.

I would love to have this answered: do we lose anything if we DON'T transfer the shares now? is it "mandatory"?  will divs be paid both to transfered share holders and to those that did not do anything before 21 May?

clock is ticking and I don't know what to do  

You're not "transferring" anything, your shares are currently the property of AMC-TENDER. You SHOULD claim them immediately otherwise there's no possible way you'd get dividends.

Not sure why you don't want to but you should follow the outlined claim process to receive your shares into your possession.