[ActiveMining] Official Shareholder Discussion Thread [Moderated]

[damiano]

I just logged into cryptotrade and found that my shares have STILL not been transferred. Then I was reading something on here about IPO refunds?

I "hold" almost 15k shares. Could someone bring me up to speed in a concise explanation as to WTF is happening?

Ken doesnt know how to run a company. 

MSD
Lawsuits
SEC

All coming soon enough

[damiano]

You missed something:

Ken/ActiveMining is going to go bankrupt through one or multiple of the following depending on how much "liquid assets" he actually has.

MSD Refund
MSD Fines
Fraud Lawsuits
Refunds on sales
Sales Lawsuits
Wages

You are probably right, but the Fraud Lawsuits would take those back through Ken personally.

Does anyone have a link to wages? I don't remember ever seeing them.

*Edit posted on ActM Thread previously

By taking into account how much he started with and how much is left, I am certain 100% he lied about all wages.

Ken has stolen money from ActiveMining, of that I am very sure.

Can we discover all of this from the blockchain? I remember the accounts were scattered, was there ever one single address where both IPO funds went to?

Burnside would be able to disclose that information, but he wouldn't do it without a subpeona

Well at least we know where the funds went to from btct.co

[LorenzoMoney]

Here is a link to a copy of the Missouri Secretary of State Cease and Desist order which was sent to Ken Slaughter.

http://freepdfhosting.com/0d53fc3f43.pdf

The amount of restitution, and the formula which will be used to determine the restitution has not yet been determined.

It is pointless to argue whether or not government or lawyer involvement is a good thing or a bad thing. It already happened.

We all should read the cease and easiest order.

Several important points should be clear. The first is, the method and formula for restitution and fines has not yet been determined. And the second is, that the Office of the Secretary of State of Missouri might be influenced by good arguments from the community of share holders on how to determine restitution.

I am of the opinion that restitution should be made in Bitcoin, not in US currency, and that it should be at the rate of .0025 Bitcoin per share, to be paid either in bit coin directly, or at the exchange rate of the time of the cease and desist order, which is about $540 per Bitcoin.  

Contact information for the Secretary of State of the Missouri is available and from what I understand, they are receptive to data which could help in determine restitution.

[shaofis]

FROM A PM WITH KEN


Can any of you actually provide a single example of Ken being dishonest?

Ken,

You have been dishonest.
We have known each other since you first announced Virtual Mining on BitFunder.
You can argue with me, and deny it all you want, but you have been very dishonest.

Lorenzo Money

No, I have not.  If you think I have give me an example.
[/I have not.  If you think I have give me an example.

You can start with the statement about shipping our first product and go from there.

[Jasun7211]

lol  I'm about half way through and even the State has it wrong.   hahaha the IPO was on Bitfunder   This is turning more fun by the second.   Must be the Show me State water. 

[lobbes]

For the sake of information, I have created an 'index of ActiveMining threads' in Meta: https://bitcointa.lk/threads/index-of-active-mining-threads.324135/
Posted from Bitcointa.lk - #OgTSQx7lhwagO2ow

[Jasun7211]

Not too shabby   71k in fines and some restitution and refunding.  I'll take it. game on baby!!!

Tuun those machines back on. 

[Jasun7211]

https://www.youtube.com/watch?v=dKYM62qSA_0

Lets get back to biz

[gogxmagog]

https://www.youtube.com/watch?v=dKYM62qSA_0

Lets get back to biz

hehe

he killed kenny

[Jasun7211]

Also the purpose of the document is to determine  "why the penalties should not be imposed".  So by chance, loophole, supporting documentation, this all may go away.  Highly unlikely, but in this case I wouldn't put anything out of the realm of reality.

[kleeck]

So company liabilities as we know them:

70k in fines to MSD
100k in enforced reimbursements to shareholders (if only 2Millon shares are reimbursed @ 0.05cents)
3Mill in pre-orders to be returned

possible liabilities:

SEC fine of around 100k? With possible enforced cessation of trading.
WoodLaw consumer case to include the above 3Mill above additional court fines and legal costs of 100k

So the total here is around 3.27 Million dollars?
Once Ken pays that out we will then and only then be able to start investing in chips and machines. If Ken doesn't have well inexcess of 3.27Mill USD then the company will fold due to lack of funds. So it looks like the company will fold.

Doesn't this ruling mean Ken can no longer pay dividends or have anything to do with unregistered securities? For any dividdends to be paid the shares need to become registered - that needs adding to the costs above.

I've emboldened all the items that you've pulled out of your ass with no sourcing. I've also underlined your conclusion from said ass-pullage. Feel free to source your "facts".

In addition I'd like to remind you that whatever penalties are incurred will not be due tomorrow. These legal proceedings take time, I was surprised that Ken stated that people might receive their refunds in 120 days from the official posting. That is quick by some standards.

[Jasun7211]

Well done Kleek.  You da man.    Time for everyone to turn down for what!!!

and it's $71k. Even the accurate statement isn't accurate  lolz     At that time of payment just throw a extra btc for a tip.

[funkymunky]

So company liabilities as we know them:

70k in fines to MSD
100k in enforced reimbursements to shareholders (if only 2Millon shares are reimbursed @ 0.05cents)
3Mill in pre-orders to be returned

possible liabilities:

SEC fine of around 100k? With possible enforced cessation of trading.
WoodLaw consumer case to include the above 3Mill above additional court fines and legal costs of 100k

So the total here is around 3.27 Million dollars?
Once Ken pays that out we will then and only then be able to start investing in chips and machines. If Ken doesn't have well inexcess of 3.27Mill USD then the company will fold due to lack of funds. So it looks like the company will fold.



Doesn't this ruling mean Ken can no longer pay dividends or have anything to do with unregistered securities? For any dividdends to be paid the shares need to become registered - that needs adding to the costs above.

Stuart, I mean Minerpart oh in this instance I mean kokoarm....

As Kleek and others have pointed out if you're insistent on continually announcing facts and figures please show some backing to these "claims".

[Jasun7211]

https://blockchain.info/address/1DJpsvnM7xTnQbWEhLYyCyfxQyxwupEzCa Now we cracked through 300 coins in the mining acct.  Racken em, stackin em.  Ok cool  I'm all set here   l8ter guys.  Till the next bump in the dirt road.  

Interesting take BTW
http://www.news-leader.com/story/news/local/ozarks/2014/06/03/lawyer-slaughter-technically-violated-exemptions/9930741/

[zumzero]

(Not sure why I got deleted but there you go.)

Am I the only one that is seeing the same repeating patterns in this thread?

Lol, we are currently exiting the mass hysteria phase and seeing that give way to the next phase. It's around now that people start calming down and listening to the voices of reason.  Before you know it we discover Ken & Co have had a breakthrough and suddenly we're sitting pretty again.  Guys, this is far from over and there's plenty of time left for ActM to succeed.

As I suggested yesterday, the boil has been growing under the surface for some time.  A couple of days ago it reared it's ugly head and all we need to do is lance it.

This recent development IS actually good news and I'll hear nothing against that.  

[mannybitcoins]

https://blockchain.info/address/1DJpsvnM7xTnQbWEhLYyCyfxQyxwupEzCa Now we cracked through 300 coins in the mining acct.  Racken em, stackin em.  Ok cool  I'm all set here   l8ter guys.  Till the next bump in the dirt road.  

Interesting take BTW
http://www.news-leader.com/story/news/local/ozarks/2014/06/03/lawyer-slaughter-technically-violated-exemptions/9930741/

"we" LOL

[kleeck]

ANY REASON FOR THIS BEING DELETED?
Thanks.

If you don't agree with someone you don't need to get abusive do you? What's the point?

There are no 'facts' available so you, me or anyoneelse needs to use the 'best guess'. These are simply my best guesses, you tell me how to improve them.

For example, according to KEN he made 6Mill in pre-orders. I am saying just 3Mill remain to be paid back but according to KEN he has repaid only about 1.5Mill (if I remember correctly) so my 'best guess' has actually  been revised DOWN by 1.5Mill.

Have you a better figure for how much we owe. Or a factual one even? If you want we can use KEN's own implied figure of 4.5Mill USD?

I've emboldened all the items that you've pulled out of your ass with no sourcing. I've also underlined your conclusion from said ass-pullage. Feel free to source your "facts".

In addition I'd like to remind you that whatever penalties are incurred will not be due tomorrow. These legal proceedings take time, I was surprised that Ken stated that people might receive their refunds in 120 days from the official posting. That is quick by some standards.

Provide the link to Ken's quote regarding owing $3MM in refunds.

If we don't have figures then stop creating them, if we do then source them.

Easy.

Edit: Because I know you are still confused, we aren't interested in your dream figures and subsequent dream outcomes. They are simply a waste of space, which is probably why they are being removed. /mysterySolved.com

[ActM Thread]

The number of posts being deleted here is outrageous.  The resident troll has all posts deleted without being read.  For the rest of those currently having posts deleted at this time it's largely because many of you have a tainted history in this thread and have started posting again.  If that's you and you make, "I told you so" comments then expect your posts to be deleted.  Also, anyone who posts offensive comments directed towards Ken or wild accusations will also have their posts removed.  Finally, all posts that contain quotes from trolls are also deleted without being read.

ActM Thread

[equipoise]

I suggest to stop deleting posts when there is no justified reason. You are abusing your power.

[ActM Thread]

I suggest to stop deleting posts when there is no justified reason. You are abusing your power.

Please pm ActM Thread and we can discuss specifics.  We are more than happy to explain, in full, why you may have had a post removed.