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.
The project manager managed to get a partial refund, when the PO said Non-Refundable, Non-Cancelable
(ii) When can we expect a financial report?
Which do you want Sales or Report, working on getting us a CPA and getting the taxes done. Can't keep Customer Service Reps due to all the threats and bad language.
(iii) How many Gold Rush & Prospector cards do you have in hand?
We have enough Gold Rush to fulfill our current orders. We have a production line up and running and tooled with parts. The project manager has set it up to do a 5,000 board run.
(iv) Could you approximate the revenue from selling all the cards in one month assuming the BTC price stays the same?
This is hard to do as we are always working on lowering our production cost, early boards are higher and later boards are lower.
(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?
That is to be determined from our current mining revenue and current sales, we have a number of sales in the works.
(vi) Are there any outstanding refunds still to be paid? If so how much and when will they be honoured?
Here is what we are sending to customers:
We are making progress with our mining operation and our sales. We going to use the funds from these to pay refunds as we lost a lot of Pre-Order bitcoins on MtGox. We expect to refund 100% of our customers.
Regards,
Ken
Customer service
(vii) How much of ActM/VMCs assets were exposed as a result of the acquisition of People's Asic?
~157,000 shares
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?
No, it has not be a high priority, getting our mining farm has been the highest priority. We are now bring the website up to high priority.
(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?
We are working on getting our own chip, this is high priority.
(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?
Can't say at this point, lot of thing are happening.
C. Mining Farm
(i) Please detail a schedule for deployment. When are we expected to reach 200TH, 300TH, 400TH,.. etc?
We expect in this datacenter to be at 120TH-150TH, which we think will be the max due to the AC required.
(ii) Are you working on starting a second mining farm given the limitations experienced by the first one?
Not at this time, we are working on sales. We have a good solid income from the mining farm, now we what to get the fast income from sales.
(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?
We have learned from a current datacenter the requirements, time, and cost required to put a datacenter together. We are now going to focus on sales which gives us some explosive income potential.
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?
We know all about HASHFAST, we have a number of plans in the works, some of which could generate up to 2.5 Million in profits
(ii) What benefits has the People's Asic team brought to the table and what are they actively working on?
Without the People's ASIC team, there is noway we could be where we are today.
(iii) Are you advertising VMC machines anywhere? Are there plans to do so?
Yes, Google Adwords
(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.
The plan is the same, mine and sale
(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?
Like, I have said in the past, we have used the same CM to build the boards, we paid the CM, we supplied the parts, we used HF supplied design to build the boards. We currently have 200 Gold Rush PCB's in stock, another 400 in production, that we have built with a different CM waiting to be assembled. We have a CM line tooled with parts to do a 5,000 board run as soon as the market demand dictates that we make the run. We are working with customers that have HF chips in had to use their chips to assemble boards for them.
(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?
We believe that we are in a great position with the previous production to make a profit in the near future. Should we see that the business does not have a chance to be profitable, then yes we would liquidate.
