Things that need to be answered directly from Ken.
Not sure where this address was found - is it a genuine AMC claimed address on their website?
Just a little research shows that this address and specifically 'Suite 3' was used circa 2007 by Italian money launderers and scam artists some of who have been jailed for a multi-million pound internet fraud.
http://www.indymedia.org.uk/en/2009/02/422284.html?c=on
A link on that page shows the 'Suite 3' address is infamous in the arena of London-based scam companies (currently still registered as well as historic) many many of which have been set up claiming 'Suite 3' as their 'office'. Apparently there is probably no office or suite at the property just a seemingly very 'accommodating' Mail hosting operation.
http://www.complaintsboard.com/complaints/wsr-csr-corporation-worldwide-england-greater-london-c142076.html
What does this prove? Well it proves that AMC are pretending they have a London office that is infact a mailbox. It also proves AMC are using the exactly the same distancing and 'keeping anonymous' techniques that scam artists successfully use. Anything else? I have a question - Should a 25mill dollar business be using an anonymous mailbox as used by convicted scammers, or should they have a bit more transparency?
I don't like this whole VMC/AMC structure. Why are we risking everything to fund VMC's hardware project? Wouldn't it be better for VMC/AMC to be one entity and manufacture hardware and mine just like ASICMINER? I've been reading this thread since day 1 and there is so much drama, confusion and lack of transparency. Why can't we just keep it simple? Wouldn't it make more sense to have VMC/AMC operate under one roof. AMC can manufacture hardware and mine. AMC can use the hardware to mine or sell it if it will generate additional income on the side just like ASICMINER. With the mining revenue and hardware sales it will to back to the shareholders in dividends. The 20m in growth and expansion fund will then be used to continue manufacturing and selling more hardware. If more shares need to be released to raise funds for more growth and expansion then those shares can be released at the market price at that time. What do you guys think? Isn't this more easier to work with? Then AMC will be able to take in profits from mining and hardware sales and the investors will be happy and it will give the company more value.
I 100% agree with this.
The most worrying aspect of the whole setup, is why does VMC, and ultimately Ken, benefit 90% from hardware sales that AMC (read, US) invested in and funded.
I think if Ken were to change this aspect, it would greatly improve the investment in AMC for everyone, and new investors would come onboard instead of being worried about this strange aspect.
Do what ASICMINER is doing ... use the funds ... create the hardware ... use it to build a mining aspect, and sell the rest of the hardware.
THAT, makes sense.
And further, if Ken did do this, he shouldn't feel like he is backing down or will be looked upon badly, quite the opposite! It would add credibility for listening to shareholders and shows that he is truly looking after the shareholders interests. Which is his number 1 duty.
Can we get a response to this Ken? This would really give investors more confidence and transparency to what they are investing into. Possible investors would be less confused as well. ASICMINER has a good plan and business model and it works.
I do however still consider there to be a vast amount of issues that need to be addressed before I can call AMC anything else then a "pretty damn close to a complete scam" based on a lot of the things brought up here. Starting with but not exclusively related to:
- pricing structure and expected profit margin
- ownership structure
- share structure
- ownership structure relating to profit and risk sharing related to VMC'S/AMC and Ken.
- listing practices and total share amount, listing time and dividend placement
The address is posted on the btct.co asset details page.
umm... lol?
Quote
Office Address:
Active Mining Corporation
95 Wilton Road
Suite 3
London
SW1V 1BZ
United Kingdom
Fax: +44 (0)20 3004 1756
Active Mining Corporation
95 Wilton Road
Suite 3
London
SW1V 1BZ
United Kingdom
Fax: +44 (0)20 3004 1756
umm... lol?
Not sure where this address was found - is it a genuine AMC claimed address on their website?
Just a little research shows that this address and specifically 'Suite 3' was used circa 2007 by Italian money launderers and scam artists some of who have been jailed for a multi-million pound internet fraud.
http://www.indymedia.org.uk/en/2009/02/422284.html?c=on
A link on that page shows the 'Suite 3' address is infamous in the arena of London-based scam companies (currently still registered as well as historic) many many of which have been set up claiming 'Suite 3' as their 'office'. Apparently there is probably no office or suite at the property just a seemingly very 'accommodating' Mail hosting operation.
http://www.complaintsboard.com/complaints/wsr-csr-corporation-worldwide-england-greater-london-c142076.html
What does this prove? Well it proves that AMC are pretending they have a London office that is infact a mailbox. It also proves AMC are using the exactly the same distancing and 'keeping anonymous' techniques that scam artists successfully use. Anything else? I have a question - Should a 25mill dollar business be using an anonymous mailbox as used by convicted scammers, or should they have a bit more transparency?
I don't like this whole VMC/AMC structure. Why are we risking everything to fund VMC's hardware project? Wouldn't it be better for VMC/AMC to be one entity and manufacture hardware and mine just like ASICMINER? I've been reading this thread since day 1 and there is so much drama, confusion and lack of transparency. Why can't we just keep it simple? Wouldn't it make more sense to have VMC/AMC operate under one roof. AMC can manufacture hardware and mine. AMC can use the hardware to mine or sell it if it will generate additional income on the side just like ASICMINER. With the mining revenue and hardware sales it will to back to the shareholders in dividends. The 20m in growth and expansion fund will then be used to continue manufacturing and selling more hardware. If more shares need to be released to raise funds for more growth and expansion then those shares can be released at the market price at that time. What do you guys think? Isn't this more easier to work with? Then AMC will be able to take in profits from mining and hardware sales and the investors will be happy and it will give the company more value.
I 100% agree with this.
The most worrying aspect of the whole setup, is why does VMC, and ultimately Ken, benefit 90% from hardware sales that AMC (read, US) invested in and funded.
I think if Ken were to change this aspect, it would greatly improve the investment in AMC for everyone, and new investors would come onboard instead of being worried about this strange aspect.
Do what ASICMINER is doing ... use the funds ... create the hardware ... use it to build a mining aspect, and sell the rest of the hardware.
THAT, makes sense.
And further, if Ken did do this, he shouldn't feel like he is backing down or will be looked upon badly, quite the opposite! It would add credibility for listening to shareholders and shows that he is truly looking after the shareholders interests. Which is his number 1 duty.
Can we get a response to this Ken? This would really give investors more confidence and transparency to what they are investing into. Possible investors would be less confused as well. ASICMINER has a good plan and business model and it works.
Would it be possible for Ken to re-write the original contract and get rid of a lot of wacky text that works only in his & VMC's favor? If this happened and there would be no more price manipulation and also dilution of shares.
I would want the cap set at a lower amount of shares. 40m sounds reasonable where 50% of the revenue goes back into grow and expansion and 50% goes back in dividends to shareholders. New shares that have yet to be released should be released at the market value at the time of the release. VMC/AMC should keep things simple like ASICMINER by mining and manufacturing hardware. This way investors are happy because they are investing into 100% of the business without us funding Ken's side project (VMC). Also i think this will eliminate all the heat being put on Ken and scaring away new investors. Sound reasonable guys?
I would want the cap set at a lower amount of shares. 40m sounds reasonable where 50% of the revenue goes back into grow and expansion and 50% goes back in dividends to shareholders. New shares that have yet to be released should be released at the market value at the time of the release. VMC/AMC should keep things simple like ASICMINER by mining and manufacturing hardware. This way investors are happy because they are investing into 100% of the business without us funding Ken's side project (VMC). Also i think this will eliminate all the heat being put on Ken and scaring away new investors. Sound reasonable guys?
I do however still consider there to be a vast amount of issues that need to be addressed before I can call AMC anything else then a "pretty damn close to a complete scam" based on a lot of the things brought up here. Starting with but not exclusively related to:
- pricing structure and expected profit margin
- ownership structure
- share structure
- ownership structure relating to profit and risk sharing related to VMC'S/AMC and Ken.
- listing practices and total share amount, listing time and dividend placement