Quote from: chsados on June 27, 2013, 11:00:05 PM

Quote from: steveioio on June 27, 2013, 10:55:32 PM

Quote from: chsados on June 27, 2013, 10:45:40 PM

Quote from: steveioio on June 27, 2013, 10:43:20 PM

Quote from: TheSwede75 on June 27, 2013, 10:31:33 PM

There are so many insecurities, man-sized holes, and pure 'makes no sense' holes in the entire 'business' and it's relationships with other companies I don't even know where to start. I am 100% totally jealous of the company owners that have managed to secure their retirement in a few weeks. Buying shares @ current value? HELL NO!

I'm all ears. What are your precise objections?

This guy on reddit raised some valid objections:

Quote

AMC is ABSOLUTELY not worth the .0025 / share that it is going for right now. All of the increase since its original .008 price is based on this news that they have hardware coming out in the future that is on par with what others are offering.

Furthermore and MOST IMPORTANTLY, the company that is listed, AMC, will only receive a VERY SMALL percentage of profits from the sale of this hardware because it is some other company, VMC, that will actually be selling it. Basically what happened is that this one man, "Kenneth Slaughter", owns both AMC and VMC. KSlaughter used funds raised from his selling of AMC shares to fund development of hardware that VMC will sell. As a shareholder of AMC, you will only see 10% of the profits made from VMC even though you have wholly funded VMC's R&D.

Imagine in an alternate universe where ASICminer was instead two companies, say ASIC-1 and ASIC-2, where both are owned by friedcat. ASIC-1 mines for bitcoins while ASIC-2 produces hardware. However, friedcat only puts ASIC-1 on the market. When friedcat has his IPO, he will use the raised funds to produce hardware using ASIC-2. The shareholders will only see value of 10% of hardware sales and then the mining revenue, even though they are funding the entire operation. This alternate universe is essentially what you have with Kenneth Slaughter and AMC/VMC.

Other points of concern include that the dividends per share will be worth less than half of the % they currently receive by April of 2014 because in the written in the contract is the clause that allows KSlaughter to increase the amount of shares receiving dividends from the current 40,000,000 to the full 100,000,000 at that time.

Additionally, the contract allows KSlaughter to continuously undersell the current market price all the way down to .008 BTC/Share

This is not to say that AMC does not have value, but please be aware that any hardware "breakthroughs" should not have a 200% effect on share price.

Edit: Personally, I would buy in if prices fell to somewhere around .012 BTC/Share

So his concerns are to do with what has been clearly stipulated by AMC from the outset? If you don't like the setup and conditions don't invest but it's a bit ludicrous to be telling people they are not getting a good deal when the deal is clear for all to see. Can't these people read?

Unfortunately no, people don't take the time to read. Not all of this information is in a concise and centrally located place. Prior to the announcement there were pages upon pages of hype. Do you have a problem with someone providing a general summary of whats going on and allowing others to come to their own conclusion?

+1

I am almost certain that the vast majority of people who are buying into AMC's hype did no digging at all into the contract of the stock.