My second crackme. It is a VM crackme, means the whole is written and interpreted by a VM engine. I didnt add any anti-debug trick except a nice anti-PEiD trick in it.
Again, patching is allowed. Tick ZF is not accepted as a solution, as the effect is not permanent. Learn how to patch dude. If you patch the crackme, submit the patched version here.
If possible, do take some time write up a tutorial on how you cracked it so others can learn from it.
crackme_nop_vm
http://crackmes.de/users/opcode0×90/crackme_nop_vm/

