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Reginald Rartan
More Money Ltd Neutrino Technologies
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Posted - 2009.07.13 10:06:00 -
[1]
MML issued bond, secured 100% by Chribba
Since this is the first time MML has asked for public funding, I have taken the following steps:
- Hexxx has reviewed this presentation and provided valuable advice to clarify this text and given advice on the plan itself. He assesses this investment as a low risk investment.
- Chribba has been given full API access and has verified that MML posses a high value portfolio of T2 BPOs as described below. The purpose of this is not to come up with an exact valuation of the BPOs but merely to verify that the total value is so much larger than the bond value that MML can repay the loan even if the total 48b ISK is lost somehow. And also of course to show that it makes no sense to run away with an amount that constitutes less than 10% of the companyÆs asset value.
- Chribba has agreed on securing the bond value by locking down a number of MMLs T2 BPOs in a newly created corporation. The sales value of these T2 BPOs is large enough to cover the bond value 100%. MML will be able to produce from these prints during the bond period, but only Chribba can unlock the prints. When principal and interest is fully paid back to all bond owners Chribba will unlock the BPOs to return them to MMLs production corporation. If principal and interest is not paid back, Chribba will sell the T2 BPOs and use the revenue to pay back the principal and interest to bond owners.
Introduction MML (More Money Ltd) is specialized in producing T2 items, drones and ships. Profit made by the company is reinvested by purchasing high value T2 BPOs that will form new lines of products. Normally the company has a high liquidity, but on some occasions, right after a large investment the ISK balance is low or even negative. This is the situation now after two large investments.
Purpose I have followed the Market Discussion forum group over a longer period and often thought that it could be interesting to issue bonds. I know that I can simply get a loan from a bank and MML have done so in the past. But this time I have decided to issue the very first MML bond series. The money borrowed this way will be used to improve MMLÆs liquidity thereby improving operations. |
Reginald Rartan
More Money Ltd Neutrino Technologies
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Posted - 2009.07.13 10:07:00 -
[2]
The Bonds MML will issue a 3 month serial bond. A serial bond is like a normal bond except it matures in portions û in this case 3 portions. You can read more about this type of bonds here.
- Nominal amount one bond: 1.000.000 ISK
- Total number of bonds: 48000
- Max bonds per buyer: 15000
- Interest: 1% weekly (approx 4% monthly)
- Interest payment: Weekly through share dividend payments
- Nominal amount all bonds: 48b ISK
- Maturity: 1/3 of the nominal value is paid back every 4 weeks
- Start date: 2009-07-20
- Ticker: MMB1
To show an example how this works. A bond holder with 1b worth of bonds will receive:
1st week: 10mill 2nd week: 10mill 3th week: 10mill 4th week: 10mill + 333.33mill 5th week: 6.67mill 6th week: 6.67mill 7th week: 6.67mill 8th week: 6.67mill + 333.33mill 9th week: 3.33mill 10th week: 3.33mill 11th week: 3.33mill 12th week: 3.33mill + 333.33mill. Bond closed Total interest paid: 80mill
Values rounded to make them more readable.
Why not a nice round 50b you may ask. I rounded it down to 48 which divide nicely in 3 portions.
Shareholders will receive 1 share for each bond in a new corp (MMB1) dedicated for this purpose. If less than 3000 bonds are sold the bond series will be cancelled and money returned.
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Reginald Rartan
More Money Ltd Neutrino Technologies
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Posted - 2009.07.13 10:08:00 -
[3]
Risks No investment is risk free but this is a very low risk investment. The full bond value + interest are secured by Chribba. I think most of you will agree that he is one of the most trusted persons in the game. So even if I got hit by a bus the investors are sure to get their money back with interest. The security kicks in if full bond principal + interest have not been paid the last day of the 14th week (including interest for the late payment).
Furthermore the bond value constitutes less than 10 percent of the sales value of the T2 BPOs owned by MML so it makes no sense to go rogue for such a relative small amount.
How to invest Reply here with the number of bonds you want to buy and send money accordingly to the char ôMML Bondsö. Before sending money please verify that the char is member of the corporation ôMML Bond July 2009ö. I will keep a bond holder list updated on this page. Once all payments are received I will create a MMB1 share for each sold bond and distribute them to the buyers.
Please notice: There is no reservation list. Bonds are assigned in the order funds are received.
Reselling of bonds If you want to sell back your bonds early you are welcome to contact me. I will either buy the bonds myself or help you resell them to other buyers. You can of course also sell them yourself simply by trading the shares to another player.
Confidential Corporation Details Specific information such as which T2 blueprints MML owns or which is currently being funded will not be published.
I would like beforehand to excuse for any badly constructed sentences or misspelled words. English is not my primary language.
Thanks for reading, Reginald Rartan |
Reginald Rartan
More Money Ltd Neutrino Technologies
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Posted - 2009.07.13 10:09:00 -
[4]
Reserved |
MML Bonds
MML Bond July 2009
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Posted - 2009.07.13 10:16:00 -
[5]
This is the bond administrator.
Please await Chribbas confirmation before sending ISK. |
Emmgel
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Posted - 2009.07.13 10:34:00 -
[6]
Pending confirmation from Chribba that the above is accurate and that the value described in T2 BPOs has been locked down, I am prepared to reserve 10 billion.
No ISK will be sent until this confirmation has been received. I presume Chribba will be acting as intermediary for the ISK-shares transaction as well?
Emmgel
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Chribba
Otherworld Enterprises Otherworld Empire
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Posted - 2009.07.13 11:04:00 -
[7]
Posting to confirm that I have my alt placed as CEO in one of the production corporation, holding all shares, and have a number of T2 BPO's locked down.
It is also my judgement that said BPOs cover the value of the requested 48B, in the event of things going wrong the BPOs will be unlocked and sold to repay investors.
I also confirm having received API access and verified that a number of T2 blueprints are in production (additionally to the ones locked by myself) in the main production corporation.
/c
Secure 3rd party service |
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leona starfire
LS Trading and Production Inc.
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Posted - 2009.07.13 11:11:00 -
[8]
Put me down for 15B isk worth. I will send the isk later on today.
Thanks
Leona Starfire
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flakeys
Interstellar Brotherhood of Gravediggers Privateer Alliance
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Posted - 2009.07.13 11:13:00 -
[9]
Edited by: flakeys on 13/07/2009 11:15:50 Put me in for 10bille.Will send isk later today.
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Foolish Bob
Caldari FireTech In Tea We Trust
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Posted - 2009.07.13 11:19:00 -
[10]
Originally by: Reginald Rartan
Interest: 1% weekly (approx 4% monthly)
In the interests of pure pedantry it's worth noting that the return is nothing like 4% per month. For this particular structure of bond, (weekly pay r, length of bond n months) the total return is
T=2 x r x (n+1)
In this case it's always 8% (2x1%x4), which makes the monthly return 2.66(7)% of your inital investment.
I explicitly make no value judgement on this; like I said, I'm just being pedantic.
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Emmgel
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Posted - 2009.07.13 11:31:00 -
[11]
Further to the above (and given someone paid me back unexpectedly so I have some more liquidity!), reserve 15 billion.
Await confirmation for ISK transfer from Chribba.
Emmgel
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Saehta
Sigillum Militum Xpisti Novus Ordo Mundi
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Posted - 2009.07.13 11:38:00 -
[12]
Reserving 1b assuming you will take a reservation till im off work. If not... o/
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flakeys
Interstellar Brotherhood of Gravediggers Privateer Alliance
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Posted - 2009.07.13 11:39:00 -
[13]
10 bille send to character : MML Bonds
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Deovina
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Posted - 2009.07.13 11:43:00 -
[14]
3b sent to MML Bonds @ 11:40
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Reginald Rartan
More Money Ltd Neutrino Technologies
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Posted - 2009.07.13 11:57:00 -
[15]
First of all thanks for fast and big investments
After viewing the tread and also by suggestion I can now see the reason for having a reservation list. People at work not able to get ingame should also be able to buy the bonds.
Therefore investors who have posted here that they want to invest have a reservation for 24 hours to transfer funds. |
RaTTuS
BIG Libertas Fidelitas
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Posted - 2009.07.13 12:08:00 -
[16]
Edited by: RaTTuS on 13/07/2009 12:08:19 I'll take 1Bil worth * -- RaTTuS @ InEve, Capital Prints for sale |
flakeys
Interstellar Brotherhood of Gravediggers Privateer Alliance
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Posted - 2009.07.13 12:09:00 -
[17]
Edited by: flakeys on 13/07/2009 12:10:56 nevermind , someone posted double reserve
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Marcus Baltar
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Posted - 2009.07.13 12:18:00 -
[18]
Originally by: Reginald Rartan How to invest Reply here with the number of bonds you want to buy and send money accordingly to the char ôMML Bondsö. Before sending money please verify that the char is member of the corporation ôMML Bond July 2009ö. I will keep a bond holder list updated on this page. Once all payments are received I will create a MMB1 share for each sold bond and distribute them to the buyers.
Please notice: There is no reservation list. Bonds are assigned in the order funds are received.
Confirming 475,000,000 ISK sent 2009.07.13 12:14 to the wallet of "MML Bonds" for the purchase of 475 bonds in MML Bond as instructed above.
Thanks. |
Vaerah Vahrokha
Minmatar Dark-Rising
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Posted - 2009.07.13 12:24:00 -
[19]
(Excuse me, ATM my money is all invested so I can't participate )
I am curious, you state you are low on liquidity yet you use a form of bond periodically draining on your liquidity instead of hitting at maturity. Any words about this? |
Kithran
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Posted - 2009.07.13 12:28:00 -
[20]
Just sent 100,000,000 isk for 100 bonds.
Kithran
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Reginald Rartan
More Money Ltd Neutrino Technologies
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Posted - 2009.07.13 12:36:00 -
[21]
Originally by: Vaerah Vahrokha (Excuse me, ATM my money is all invested so I can't participate )
I am curious, you state you are low on liquidity yet you use a form of bond periodically draining on your liquidity instead of hitting at maturity. Any words about this?
This allows MML to repay the loan along the way instead of waiting to the end of bond period. The bond ensures that MML has enough liquidity - as profit comes in I can pay back portions of the loan.
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Irmaus
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Posted - 2009.07.13 13:18:00 -
[22]
I would like to reserve 700 bonds (700M)
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SellOrder Forum
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Posted - 2009.07.13 13:27:00 -
[23]
Reserve 5000 bonds will transfer isk around 6.30 (GMT)
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Mienka
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Posted - 2009.07.13 13:30:00 -
[24]
Isk sent for 100 bonds.
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Bankimus
EVE Wealth Management
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Posted - 2009.07.13 14:14:00 -
[25]
I'll take 100 bonds. Will send isk tonight. ______________________________________ http://sites.google.com/site/evewealth |
Neon Fury
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Posted - 2009.07.13 14:32:00 -
[26]
I'll take the remainder of the bonds that are available ( around 1500 i believe)
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Reginald Rartan
More Money Ltd Neutrino Technologies
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Posted - 2009.07.13 14:43:00 -
[27]
Originally by: Neon Fury I'll take the remainder of the bonds that are available ( around 1500 i believe)
There are 1525 bonds left. I'll buy one for myself :) so I'll reserve 1524 bonds for you, if that is ok. |
Tamati Tama
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Posted - 2009.07.13 14:53:00 -
[28]
Originally by: Reginald Rartan
Originally by: Neon Fury I'll take the remainder of the bonds that are available ( around 1500 i believe)
There are 1525 bonds left. I'll buy one for myself :) so I'll reserve 1524 bonds for you, if that is ok.
Darn, was going to reserve 500 :/
I call first on the waiting list if anyone drops out.
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Neon Fury
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Posted - 2009.07.13 15:29:00 -
[29]
isk will be transferred in an hour when i'm back from work(1.524 bil)
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Yakumo Smith
Gallente No End To Infinity
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Posted - 2009.07.13 16:29:00 -
[30]
i'll call second if anyone drops out (up to 9b worth)
Eve forums blocked at work...but eve search isn't, so I got to watch the action but not be able to invest :((
I suppose this must be my sig. I'll do something cool with it eventually. |
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