[ActiveMining] Official Shareholder Discussion Thread [Moderated]

[Jasun7211]

Ken,

Let's be clear about a few things, it is obvious that the State of Missouri is not well educated on what Bitcoin is.


Tomorrow, I will be calling the MSD and will do my best to explain to them that you, Ken, have tried to fly under the radar and have not been honest with share holders, nor with the Bitcoin community at large.

You promised a discounted HashFast miner to anyone who invested over 100K shares. You promised a return of .025 bitcoin per share. You did not even have the respect for us to tell us about the arrangement the MSD made with you. Someone had to post a link to this bit of news in the IRC channel and on here.

Our money back is not the USD value of what the shares would be now. It is what the value would be in Bitcoin. One way or another, you, Ken will have to get honest with us.


You have not been honest. You bamboozled your investors, the people who believed in you and
 you have somehow bamboozled the State of Missouri. There are more options than just the two of keeping the shares or getting a paltry 5 cents a share.  

Lorenzo Money

Quote from the Secretary of State of Missouri:
“The fact that somebody is selling investments through Bitcoin rather than traditional currency doesn’t change their obligations to investors, and I encourage Missourians to call my office before making any Bitcoin investments,” Kander said. “Investors have a right to know the full set of facts about both an investment and its backer, including the risks, profit-generating strategy and pertinent financial history.”

This is what they came up with, it is what the law in Missouri states, you get your money back plus 8%/year interest.  So, if you don't want their deal keep your shares, your choice.

Lol Ken bamboozled the State of Missouri.   Nope they just followed their antiquated statutes.  ACTM to da moon.

[kslaughter]

Ken,

-Will the company continue?

-Why is the company in a good position?

Yes, this is just a bump in the road.

[bigdude]

Ken,

-Will the company continue?

-Why is the company in a good position?

Yes, this is just a bump in the road.

Ok, so once the bump in the road is dealt with, what is the future of AMC for investors who hold on?

[Jasun7211]

Thanks for a great night guys!!!

[drawingthesun]

Thanks for a great night guys!!!

You must own several million shares now. :p

[snowdropfore]

Ken,

-Will the company continue?

-Why is the company in a good position?

Yes, this is just a bump in the road.

does it mean i can keep my shares and get dividends??

[drawingthesun]

Ken,

-Will the company continue?

-Why is the company in a good position?

Yes, this is just a bump in the road.

does it mean i can keep my shares and get dividends??

Shares yes,

Dividends no.

The dividend is about to go to the US Government,

Thanks for protecting us MSD! Thanks for stealing everything this company has earned in the last 9 months! Thankyou so much!

[PurpleTentacle]

Shares yes,

Dividends no.

The dividend is about to go to the US Government,

Thanks for protecting us MSD! Thanks for stealing everything this company has earned in the last 9 months! Thankyou so much!

None of this would have happened if Ken were honest about his actions and the company's financials and if it hadn't taken him 6 months to list the shares.


Ken, whatever happened to:

"If you make your Investors successful, you will be successful"

[klondike_bar]

Ken,

-Will the company continue?

-Why is the company in a good position?

Yes, this is just a bump in the road.

yes, virtually having your business entirely halted by the MSD (at least short term) is only a small bump. Like DTS says youll certainly be shipping products on time and operating a 500TH farm any day now once you pay out hundreds of thousands (millions even?) to the investors you shammed and pay fines to the state because you are a known repeat offender in terms of shady business practice.

IMO theres a chance that the MSD will fully dissolve your companIES (VMC included) to refund your customers and pay your debts. They can clearly see the shell game you have played (particularly with VMC != ACTM    and shares != direct ownership of the IPO). In the bitcoin world it IS possible to have extremely concise and simple accounting/auditing but ACTM has not done so. Financials will soon be two months late, nobody knows how much the farm cost, how much you lost to eASIC, and how much you lost on mtgox. Even then, expect to provide full and acurate accounting of these losses so that it can be clear that ACTM/VMC funds were not used on exorbitant self-income or directed into personal accounts.

[Jasun7211]

Shares yes,

Dividends no.

The dividend is about to go to the US Government,

Thanks for protecting us MSD! Thanks for stealing everything this company has earned in the last 9 months! Thankyou so much!

None of this would have happened if Ken were honest about his actions and the company's financials and if it hadn't taken him 6 months to list the shares.


Ken, whatever happened to:

"If you make your Investors successful, you will be successful"

You have to remember what VE did to Ken to make him how he is.  I'd almost be the same way.  You have to admit we have a wild pool of shareholders, and I understand why that is too.  1000 satoshis for a company that yas a mining farm and now sells boards.  With the price of btc rising the fine gets smaller every time the price goes up.  Ken has enough in the mining wallet to cover that plus the few people that are dumb enough to take the State's reimbursement deal. 

[PurpleTentacle]

...
You have to remember what VE did to Ken to make him how he is.  I'd almost be the same way.  You have to admit we have a wild pool of shareholders, and I understand why that is too.  1000 satoshis for a company that yas a mining farm and now sells boards.  With the price of btc rising the fine gets smaller every time the price goes up.  Ken has enough in the mining wallet to cover that plus the few people that are dumb enough to take the State's reimbursement deal. 

VE isn't responsible for Ken not releasing proper financials. Ken did so to hide his assets from the court. And Ken might have enough to cover the fine and the reimbursements, but is he ever going to return anything to shareholders? I doubt it.

[JimmyJazz]

This is great, just when I was planning to sell some btc to go on holiday.
I think I might just put in a sell wall and leave for a few months. Hopefully coming back to a bit of coin.

Adios.

[Jasun7211]

...
You have to remember what VE did to Ken to make him how he is.  I'd almost be the same way.  You have to admit we have a wild pool of shareholders, and I understand why that is too.  1000 satoshis for a company that yas a mining farm and now sells boards.  With the price of btc rising the fine gets smaller every time the price goes up.  Ken has enough in the mining wallet to cover that plus the few people that are dumb enough to take the State's reimbursement deal. 

VE isn't responsible for Ken not releasing proper financials. Ken did so to hide his assets from the court. And Ken might have enough to cover the fine and the reimbursements, but is he ever going to return anything to shareholders? I doubt it.

Your 100% right on that actually.  In the earlier days there really was no excuse. Now we know be has been busy with a lot lately, and to be honest I was cool with just knowing the contents of the two wallets that Ken posted as financial.  Some cost accounting would have been nice, but this isn't a normal investing world.  As long as Ken keeps hashing at an increasing rate, even a slowly increasing rate, and selling some boards, this company will be fine.  Look at the industry and what a unique position Actm is in.  Save the Sec of State of Mo situation, and a few other things.  I am no cheerleader and am aware that bitcoin can blow up tomorrow ( highly unlikely), let alone actm, but you have to admit there still is major potential with the right tailwinds in place, and they look to be forming on Ken's backside.  Slipstreamin to succuess......soon

[PurpleTentacle]

...
You have to remember what VE did to Ken to make him how he is.  I'd almost be the same way.  You have to admit we have a wild pool of shareholders, and I understand why that is too.  1000 satoshis for a company that yas a mining farm and now sells boards.  With the price of btc rising the fine gets smaller every time the price goes up.  Ken has enough in the mining wallet to cover that plus the few people that are dumb enough to take the State's reimbursement deal. 

VE isn't responsible for Ken not releasing proper financials. Ken did so to hide his assets from the court. And Ken might have enough to cover the fine and the reimbursements, but is he ever going to return anything to shareholders? I doubt it.

Your 100% right on that actually.  In the earlier days there really was no excuse. Now we know be has been busy with a lot lately, and to be honest I was cool with just knowing the contents of the two wallets that Ken posted as financial.  Some cost accounting would have been nice, but this isn't a normal investing world.  As long as Ken keeps hashing at an increasing rate, even a slowly increasing rate, and selling some boards, this company will be fine.  Look at the industry and what a unique position Actm is in.  Save the Sec of State of Mo situation, and a few other things.  I am no cheerleader and am aware that bitcoin can blow up tomorrow ( highly unlikely), let alone actm, but you have to admit there still is major potential with the right tailwinds in place, and they look to be forming on Ken's backside.  Slipstreamin to succuess......soon

I don't doubt the company's potential, I doubt Ken's intentions.

[sparky999]

If bitcoin gets back to over $1k which many think it will very shortly even our crappy old 55nm chips would be profitable to produce. ActM is not dead yet and this MSD thing is such a joke. So as punishment the MSD is forcing Ken to buy back shares at a fraction of what they are worth, I'm sure Ken feels very punished lol Well done whoever picked up those 2milion shares overnight!

[drawingthesun]

If bitcoin gets back to over $1k which many think it will very shortly even our crappy old 55nm chips would be profitable to produce. ActM is not dead yet and this MSD thing is such a joke. So as punishment the MSD is forcing Ken to buy back shares at a fraction of what they are worth, I'm sure Ken feels very punished lol Well done whoever picked up those 2milion shares overnight!

See this is the reason you don't go out of your way to involve the MSD or lawyers.

Guess what? The first thing that gets paid isn't share buyback, dividends or customer refunds but.... The MSD gets its $100,000.

See, everyone is selfish and I knew that getting the authorities involved would be a bad idea.

Because guess what dumb shits? The law doesn't care about you at all, it cares abouts its own profits.

The MSD will take its slice and then watch the company fall.

Well done to the smart investors in this thread who wanted big brother to come help out. He came, fucked you over and took ActiveMining's money.

Smart aren't we?

[damiano]

If ACTM had in stock miners flying off the shelf I would be
more optimistic

Although if Ken buys back a significant amount of shares there is more motivation for him to perform better

[Phildo]

...
You have to remember what VE did to Ken to make him how he is.  I'd almost be the same way.  You have to admit we have a wild pool of shareholders, and I understand why that is too.  1000 satoshis for a company that yas a mining farm and now sells boards.  With the price of btc rising the fine gets smaller every time the price goes up.  Ken has enough in the mining wallet to cover that plus the few people that are dumb enough to take the State's reimbursement deal. 

VE isn't responsible for Ken not releasing proper financials. Ken did so to hide his assets from the court. And Ken might have enough to cover the fine and the reimbursements, but is he ever going to return anything to shareholders? I doubt it.

Your 100% right on that actually.  In the earlier days there really was no excuse. Now we know be has been busy with a lot lately, and to be honest I was cool with just knowing the contents of the two wallets that Ken posted as financial.  Some cost accounting would have been nice, but this isn't a normal investing world.  As long as Ken keeps hashing at an increasing rate, even a slowly increasing rate, and selling some boards, this company will be fine.  Look at the industry and what a unique position Actm is in.  Save the Sec of State of Mo situation, and a few other things.  I am no cheerleader and am aware that bitcoin can blow up tomorrow ( highly unlikely), let alone actm, but you have to admit there still is major potential with the right tailwinds in place, and they look to be forming on Ken's backside.  Slipstreamin to succuess......soon

How can you think this without knowing how much ken paid for the boards?

[LorenzoMoney]

DTS,

You are wrong.

You are wrong because the "smart investors" are not to blame.

Ken is to blame. Had he been honest from thebeginning, had he done what he promised, had he not ignored the advisory board, had he not played the NDA game, the company would be in great shape and there would have been no unhappy investors.

What you are saying is equvalent to a man yelling at his wife who is hupset that he is being arrested, "Honey! If you hadn't called the police when I beat you, the cops wouldn't be taking me away."

All that being said, Ken has some serious nerve calling this all a bump in the road. The road is unpaved and full of potholes.
This is more than a bump. It is a sign saying, bridge out.

The solution is simple: Ken, produce and make public a proper financial report. Also, answer all the lingering questions peopel have been asking for months.


Lorenzo Money

If bitcoin gets back to over $1k which many think it will very shortly even our crappy old 55nm chips would be profitable to produce. ActM is not dead yet and this MSD thing is such a joke. So as punishment the MSD is forcing Ken to buy back shares at a fraction of what they are worth, I'm sure Ken feels very punished lol Well done whoever picked up those 2milion shares overnight!

See this is the reason you don't go out of your way to involve the MSD or lawyers.

Guess what? The first thing that gets paid isn't share buyback, dividends or customer refunds but.... The MSD gets its $100,000.

See, everyone is selfish and I knew that getting the authorities involved would be a bad idea.

Because guess what dumb shits? The law doesn't care about you at all, it cares abouts its own profits.

The MSD will take its slice and then watch the company fall.

Well done to the smart investors in this thread who wanted big brother to come help out. He came, fucked you over and took ActiveMining's money.

Smart aren't we?

[shaofis]

If ACTM had in stock miners flying off the shelf I would be
more optimistic

Although if Ken buys back a significant amount of shares there is more motivation for him to perform better

Ken would have to stop miss-leading people for there to be any success.