Quote from: auto2nr1 on July 05, 2013, 06:35:23 AM

***MY VERSION OF WHAT THE CONTRACT SHOULD LOOK LIKE**

VMC/AMC Merger

This is a Pre-Merger VMC Offering.

(This Is For Community Review Only)

The Final Offering May Be DIFFERENT

(This Document Is For Community Review Only And May Contain Errors)

**STRUCTURE**

   ENTITY NAME
   -----^-----
  | |
40% 60%
PUBLIC MGMT
OWNED OWNED

40% of the shares will be sold to the public (10m shares)
60% of the shares will be held privately by management (15m shares)

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Introduction
The ENTITY NAME HERE (VMC) business includes cryptocoin mining and sales of self-built ASIC devices. The public will hold 10,000,000 shares (40%), while ENTITY NAME (VMC) owner(s) shall hold 15,000,000 shares (60%), for a total of 25,000,000 shares (100%).

The issuing of more shares will be allowed in the future, provided there is strong economic justification, mainly on the basis of covering emergent capital needs. Existing shareholders also get the first choice for buying new shares before they are sold on the open market. The volume of new shares shall be kept at a minimum as much as possible and the pricing of them should be such that the total value of all assets (tangible and intangible) per share does not diminish, protecting shareholders as much as possible from future dilution of value.

How to buy shares
ENTITY NAME HERE (VMC) shares will be sold on BitFunder and BTCT.CO, following asset approval. Existing Active Mining Cooperative (AMC) shareholders will be entitled to trade their shares for ENTITY NAME HERE (VMC) shares, on a 1:1 basis.

Dividend payment
The income, including mining income, sales via bitcoins or other cryptocoins and fiat income transferred to bitcoins, will be paid to shareholders proportionally, when all manufacturing, maintenance, labor costs, R&D, and miscellaneous expenses are deducted.

Our chips
Generation 1: Fast-Hash. 28nm. Each chip's rated frequency is 800 MHz at 1.15V. It translates to 16,000 MH/s because it does 20 hashs per cycle. Chip requires proper handling of heat and power supply.

***MY VERSION OF WHAT THE CONTRACT SHOULD LOOK LIKE**

You can fill in the ENTITY NAME with the name of your choice. I am guessing it will be VMC. AMC will eventually cease to exist. If you want to call the 40% of that shares a "division" of VMC called Active Mining, AMC or whatever you feel is a good name for that division. I believe this is close how how ASICMINER is structured. BitFountain would be equivalent to what would be VMC (60% privately held by owners) in this contract and the 40% of the shares that is sold to the public would be ASICMINER which would be Active Mining or any name of your choice if you wanted to distinguish public vs private shares. But the important thing is that we would be one entity with a total of 25m shares (10m for public and 15m for private).

I think this is more what what we are looking for. ONE ENTITY. This should clear up any confusion. Let me know if you guys are on board with this revision. You should build on top of this Ken if the other shareholders agree to my revision.

I like it. I think that going to one company (in lieu of the subsidiary type arrangement that was proposed) will make the whole process easier for shareholders to see whats happening.