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Ji Sama
Caldari Tash-Murkon Prime Industries United Corporations Of Modern Eve
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Posted - 2010.01.20 19:09:00 -
[31]
RL hit me like a train :( I will have the audit done within 6 hours!
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skurv
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Posted - 2010.01.20 21:18:00 -
[32]
Originally by: Vaerah Vahrokha Finally I confronted him with the fact that public investments incur sensible overhead, including the costs for an audit and / or collateral holding. He did not seem to have thought about these additional steps (which indeed would make a 500M bond overkill) and so I suggested him to seek out the help of a free auditor. He does not *need* the money, he wants more of a MD public experience out of it. This and the expressed intention of getting known are imho not overly positive factors, in the sense that a public investment should be the last resort, but then, it's not my task to judge here.
By the way VV, thank you for your time the other day. You did point out some things that until that point I had not realized and/or thought about. Namely how much a full scale audit could really cost, and some of the ideas/basis behind collateral backed bonds. But of course things like this are exactly why i wanted to get the experience of running a public offering.
I do agree though that if/when the time comes for me to ask for a serious investment it should be as a last resort, and it should always be heavily scrutinized. having looked at the numbers and how much it will truely cost me to get this experience (as compared to say, a collateralized private loan) i can definately see where the drawbacks are. But, i honestly believe that running a smaller, short term public operation will prepare me better if the day does come for me to have a larger public offering.
Having heard the concerns of "exposure" to MD, i am starting to see more clearly why people would be cautious of these types of scenarios and all i can say to them truely is "good on you". But of course as i've said before i believe the potential rewards for investors in this particular scenario outweigh the risks of investing, else i wouldn't have posted at all.
Thank you again for your time and comments VV, --Skurv
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Ji Sama
Caldari Tash-Murkon Prime Industries United Corporations Of Modern Eve
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Posted - 2010.01.21 02:29:00 -
[33]
Audit report on Skurv
I have been given full access to two accounts; these accounts contain six characters, one of them being Skurv and the other relevant for this audit being a second trading character. All other characters are irrelevant to this audit.
Character:
Skurv; Corporation history! Lone Star Joint Venture
Character creation date! 2008/02/06
Skill points! 22.9M
Primary character focus! Spaceship command, industry and science
Secondary character focus! Navigation, gunnery and electronics
Tertiary character focus! Mechanic, leadership and corporation management
Quaternary character focus! Trade, learning and engineering
Corporation history! Lone Star Joint Venture is a primarily science and industry member corporation of the Alliance Wildly Inappropriate, it consist of 300+ members. Its CEO is HELLAH LAYBOOOL. RED FLAG: There have been rumours, allegations and speculations of fraud/default in regards to the alliance leadership
Posting history! First post was on 2008/09/29 00:19:00 in this thread he sells 3 GTCÆs He has no real posting history. Neither does any of the other characters associated with his accounts.
GREEN FLAG: No suspicious traces. GREEN FLAG: No character trades.
Online behaviour! Skurv have a keen business understanding of his niche. He knows the basics of the trade he is involved, and has some advanced theories as well. Overall, he has a nice open personality, and has answered all questions professionally and to the point.
GREEN FLAG: Skurv submitted to an audit
Financials! Because of the limitations of the API key, I only used the last 1000 transactions. These transactions date back 2010/01/01.
Estimated NAV! Assets: 2991M Sell orders: 715M Buy orders: NONE Liquids: 88M
Total Estimated NAV = 3794M ISK
Income statement! 880M ISK sold 990M ISK bought 140M ISK profit
Trading! Skurv buys in Jita, and hauls it off to a trade hub, where he has created a thought of one-stop mini trade hub. He is well aware of his limitations, as well as his opportunities.
Conclusion! I found no discrepancies.
Only potential red flag is that of his alliance history; however the rumours and accusations are based on actions taken before he joined the alliance.
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Roger Kiyosaki
Community for Active Tax Evasion
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Posted - 2010.01.21 08:45:00 -
[34]
Originally by: Roger Kiyosaki Pending audit, I'll take one slice of the bond for a total of 50m ISK.
Thanks Ji for the report.
Given Ji Sama's report, I can confirm my interest in buying in for 50m ISK.
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Devroush
Caldari Sidclan
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Posted - 2010.01.21 13:37:00 -
[35]
Originally by: Devroush I'll invest an additional 50M isk, pending the audit.
I'll give it a go too :). Put me down for 50M isk.
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Vaerah Vahrokha
Minmatar Brutor tribe
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Posted - 2010.01.21 14:56:00 -
[36]
@Ji Sama:
Could you please (in future audits) use a green that is more readable? I don't know if it's just my laptop acting up, but the red writings look bad and the green ones are unreadable. - Auditing and consulting
Before asking for investors, please read http://tinyurl.com/n5ys4h and http://tinyurl.com/lrg4oz
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skurv
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Posted - 2010.01.21 21:14:00 -
[37]
As the audit is complete now, I intend on moving foreward with my bond. Shortly, I will be evemailing those who have already expressed interest in investing in the bond (prior to this post) and offering a "pre-sale" to them (prioritized by they order they expressed their interest, first come first serve). This pre-sale offer will continue until Saturday 1/23/2010 at downtime or until no shares remain whichever comes first.
If there remains any shares of the bond after the pre-sale has concluded, I will then update the first post with how many shares remain and open them to the public until downtime on Monday, 1/25. At that time all sales will be closed and the bond's term will commence with the first interest paid on or about 2/1.
Ideally, with each interest payout I will post a status with approximate weekly sales, purchases, profits and payouts. At the end of the bond's run, all shares will be bought back at 100% of face value and i have requested for Ji Sama to do another audit of the venture's finances at that time to round out the offering.
Feel free to continue commenting in this thread if there are any questions. --Skurv
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Kithran
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Posted - 2010.01.21 21:30:00 -
[38]
Sent 100 mil with reason as directed in mail.
Kithran
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Morgain dVher
Native Freshfood
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Posted - 2010.01.21 21:31:00 -
[39]
I'll invest in 2 shares, please send me an eve mail. I'm not on often these days, but I'll check the mail daily until Monday. Thanks
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skurv
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Posted - 2010.01.21 21:32:00 -
[40]
The Pre-Sale offering of shares has begun. An evemail has been sent to all those who qualify for this offer.
I was unable to contact Disturbing Events via evemail and therefore he will not be eligable for the pre-sale offering, however if he/she would still like to purchase shares they may do so with priority if/when the offering is opened to the rest of the public. --Skurv
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Race Imperiled
Minmatar
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Posted - 2010.01.21 22:06:00 -
[41]
Funds sent for one share @ 50 million. I appreciate your prioritization for the pre-sale. ***
Available for Hire |
Devroush
Caldari Sidclan
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Posted - 2010.01.21 22:21:00 -
[42]
50M sent. Good luck with your venture!
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Taram Caldar
Noir. Noir. Mercenary Group
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Posted - 2010.01.22 02:47:00 -
[43]
Edited by: Taram Caldar on 22/01/2010 02:48:32 Reserving 2 shares please. Will send isk when I receive an evemail that the reservation is confirmed with the bond owner.
Want a sig made? Contact me in game. Click my sig to see samples |
Corlath
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Posted - 2010.01.22 03:20:00 -
[44]
Reserve 2 shares for me...eve is down I'll be in touch Sunday (1/24) |
Lord Meltdown
Caldari The Wraith Templar Force
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Posted - 2010.01.22 03:20:00 -
[45]
id like to reserve 2 shares as well |
Nouva MacGyver
Caldari MacGyver Communications
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Posted - 2010.01.22 03:42:00 -
[46]
Skurv,
I can't check my evemail at the moment, but was I one of those that qualified? If yes my earlier reservation of 100mil stands. I'll send it over to you in some hours when I'm home and able to access Eve. |
Thoraemond
Minmatar Far Ranger
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Posted - 2010.01.22 11:20:00 -
[47]
Originally by: Vaerah Vahrokha [Ji Sama, c]ould you please (in future audits) use a green that is more readable? I don't know if it's just my laptop acting up, but the red writings look bad and the green ones are unreadable.
Seconded. More specifically, might I suggest the tag limegreen instead of green, and the tag b for bold face (which helps with the legibility of colours as well)? |
skurv
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Posted - 2010.01.22 11:37:00 -
[48]
Originally by: Lord Meltdown Edited by: Lord Meltdown on 22/01/2010 04:05:25 id like to reserve 2 shares as well
edit isk sent
Lord Meltdown, Your isk will be returned to you when i log in-game this evening. Only the people who the Pre-Sale has been offered to via in-game email may purchase shares at the moment. The primary reason for this is that they offered their support prior to my announcement and thus should have the first shot at shares. If all of them had purchased 2 shares then i would have none remaining.
I cannot accept isk for shares from anyone who isn't involved in the pre-sale. However, on saturday after downtime i will update the thread with the # of shares remaining open and i'll attempt to contact anyone not involved in the pre-sale that has expressed interest on a first come first served basis.
however, thank you for your interest in my venture. I'll return your isk when i get home from work and get log into EVE this evening --Skurv |
RAW23
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Posted - 2010.01.22 12:18:00 -
[49]
Edited by: RAW23 on 22/01/2010 12:18:27 I'll take the remaining 4 please or any that are left by the time you get down the list to me. |
Lord Meltdown
Caldari The Wraith Templar Force
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Posted - 2010.01.22 15:05:00 -
[50]
Sorry, I have jumped the gun on this offering, I did not clearly read everything(were all human) and your reason is highly respectable.
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Darth Raxis
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Posted - 2010.01.22 15:22:00 -
[51]
I would be interested in 2 shares if any are available.
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Dretzle Omega
Caldari Caldari Navy Volunteer Task Force
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Posted - 2010.01.22 15:25:00 -
[52]
Originally by: skurv Lord - I am more than willing to listen to any criticism of my business plan or my presentation. however, none of setra's comments were even remotely constructive. he was trolling, and thus i responded to him as a troll.
It's a bit of old news now, but just a helpful comment here: Setrak's comments were constructive, despite being negative and stated in a tone you disapproved of.
Originally by: skurv I want to use the endevour to both lay the foundations for a reputation in the MD forums
You said that first, before your other reasons. You've already reiterated by now that you place more emphasis on the other reasons, but this was a point of interest. Even if it's low on your list, it need not be mentioned at all.
Setrak was stating a simple fact that bonds for the purpose of "rep grind" are frowned upon. If investors come to that conclusion themselves, then that's one thing. If you openly state it, it looks worse.
Originally by: SetrakDark Pick 10 random people and pay them 5m each once a week.
Now you've experienced as much as you'll get from running this.
She was completely correct here, the way you originally approached. Getting an audit was a good move; an ongoing audit throughout (if Ji doesn't charge too much and/or is even willing to do it ) would be another good move, to show what you can do with the money. Otherwise, you might as well pay out 50 mil a week, selling assets to do so, as with a black box method that's as much as you get from a "rep grind" bond.
Setrak is trying to be helpful, skurv. By the way, responding harshly, even to actual trolls, and yelling that you will not respond to trolls is scammer behavior. It's often used by scammers as a way to ignore questions/comments he doesn't want to answer while trying to make himself look legitimate in doing so.
Just FYI.
Originally by: Akita T BTW, if you see God when you're clutching for your chest due to sudden realization you have no chance to get out of this with your wallet intact tell him he still owes me money
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Ji Sama
Caldari Tash-Murkon Prime Industries United Corporations Of Modern Eve
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Posted - 2010.01.22 15:47:00 -
[53]
Confirming that I am pulling data on a daily basis, and this will be closed of with a performance audit. According to Cista's Audit Initiative (CIA) no fees are involved in this audit!
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Get Paid
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Posted - 2010.01.23 03:01:00 -
[54]
Just posting to confirm i have sent you 100 million isk in return for 2 shares as requested in eve mail.
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skurv
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Posted - 2010.01.23 04:05:00 -
[55]
***UPDATE*** With under 8 hours remaining before the pre-purchase deadline passes, only 1 investor has yet to respond to the pre-sale offer. Presently there are 2 shares open, and should they not be sold before i wake up after downtime i will begin offering them to those who have expressed interest beyond the "pre-sale" list. All of Saturday will be reserved for offering to the following people (in order of precidence) ***do not send isk without receiving an evemail confirming your share reservation*** Morgain Dvher Taram Caldar Corlath Lord Meltdown Raw23 Darth Raxis ***do not send isk without receiving an evemail confirming your share reservation*** i cannot emphisize this point enough. If i evemail you confirming the reservation, you will have 2-3 hours to respond before i offer to the next person. at that point, it will be first come first served for those shares. Should i receive isk from multiple persons for the same shares offered i will determine who they should go to and refund the isk to the other person(s) (assuming of course that all who sent isk have been offered shares. if not then i will gratiously thank whomever was not for their gift). ***do not send isk without receiving an evemail confirming your share reservation***
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Mme Pinkerton
Eschaton Industries
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Posted - 2010.01.23 08:32:00 -
[56]
Originally by: skurv If i evemail you confirming the reservation, you will have 2-3 hours to respond before i offer to the next person. at that point, it will be first come first served for those shares.
What's the rationale behind this move? Why is it so important to get the money asap? I heard not everyone lives in the same TZ or is online 23/7...
imo that's pretty bad form.
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Roger Kiyosaki
Community for Active Tax Evasion
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Posted - 2010.01.23 08:54:00 -
[57]
50m ISK sent for 1 share, as indicated in EveMail.
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Nouva MacGyver
Caldari MacGyver Communications
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Posted - 2010.01.23 09:25:00 -
[58]
Originally by: Mme Pinkerton What's the rationale behind this move? Why is it so important to get the money asap? I heard not everyone lives in the same TZ or is online 23/7...
imo that's pretty bad form.
I agree with this. Skurv I also understand you probably wanting to observe some self-enforced protocols to make this offering "right", but perhaps you could extend the response deadline to a more reasonable timeframe? Also, it's the weekend so that's also another point to consider besides what Mme said about varied time zones.
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skurv
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Posted - 2010.01.23 14:25:00 -
[59]
Originally by: Mme Pinkerton
Originally by: skurv If i evemail you confirming the reservation, you will have 2-3 hours to respond before i offer to the next person. at that point, it will be first come first served for those shares.
What's the rationale behind this move? Why is it so important to get the money asap? I heard not everyone lives in the same TZ or is online 23/7...
Originally by: Nouva MacGyver I agree with this. Skurv I also understand you probably wanting to observe some self-enforced protocols to make this offering "right", but perhaps you could extend the response deadline to a more reasonable timeframe? Also, it's the weekend so that's also another point to consider besides what Mme said about varied time zones.
The reason i did this, and yes it may be bad form i'll admit (i'm still new to this remember?), is because i want the bond to officially begin accruing interest on monday morning as i've previously stated. It's not vital that i get all shares filled in order to begin the expansion, however I would like everyone who is interested to have a fair chance at acquiring the 1 remaining share before monday. so doing the math i'll gladly change my timeline slightly.
The first offer is going out now to morgan dvher, and the second will go out in about 7 hours, and so on until the offer is filled. this will send the final offer out at about the time i go to bed on sunday night so when i wake up monday morning i can start the timeline as planned. If the final share does not sell prior to downtime on monday morning (1/25), then the bond will commence using the funding it has already received/I have verified.
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Taram Caldar
Noir. Noir. Mercenary Group
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Posted - 2010.01.24 00:12:00 -
[60]
As stated in mail you sent me I have sent 50mil isk for the purchase of 1 share.
Thank you.
Want a sig made? Contact me in game. Click my sig to see samples |
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