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The Bitter Sea Trading Company - Part II.

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Kouryusei Caldari The Bitter Sea Trading Company	Posted - 2009.05.23 20:02:00 - [1] - About the company. The Bitter Sea Trading Company is a privately traded organization that does not tie itself to a single profit making venture. If an opportunity arises in any sector, the organization will seek to capitalize on it; not limiting itself to a single area of trade. The organization is ran by two "business savvy" people, myself and my wife. My wife has the financial acumen to handle my company finances in the real world, and has always been great at spotting opportunities to capitalize on. You guys may not trust her, but I do. See a need, fill a need. If we see a market shortage of a specific item, we'll manufacture it (we provide the majority of our own minerals, so profit returns are greater) and sell it for a considerable return. If we see a trading opportunity, such as the ability to buy a popular item that usually sells for 200,000 ISK per unit, for a fraction of this cost - of course we'll jump on it. The basic principles of time trading are something I am extremely familiar with, it's how I got to where I am in the real world. We also look at the bigger picture, returns on researched BPO's several months down the line. Copying of said BPO's to BPC's for increased sale revenue. You get the picture. Whilst the company does offer attractive monthly returns, serious investors will be looking at a long term investment based on increased share value. We aim to become big, and I'm too stubborn to back down on that idealism. -- - Dividends. On the 1st day of each calendar month, dividend payments are issued with the following returns in mind. 40% of the generated profit from the previous calendar month is equally split amongst the shareholders. The remaining 60% is reinvested into the company, therefore providing increased capital for further growth, and increasing the value of each and every share exponentially. -- - Shares. There were initially 1000 shares issued at 1M per share, these were snapped up in under an hour. Following a resolution proposed last night in order to allow the company to participate in larger volume trading, an additional 1500 shares are set to be created in roughly 7 hours. The initial offering limited users to a maximum of 200 shares per person. With the creation of these additional shares, no such limitation is in place. The organization cannot forcibly buy back your shares at any time, nor does it limit the buyback value of your shares to a certain percentage. The value of a share changes on a day to day basis, and you are free to trade them as you see fit. However, prior to trading a share; please contact the corporation. This is solely for our records. If you are interested in selling your shares back to the corporation at fair market value, then you can contact myself or Eiroze. We will never decline anyone who wishes to sell their shares back. -- - Auditing. An audit is currently in progress. A character link audit has been performed by two non-biased people, and a full audit is in progress by a respected auditor. -- - Contact. I can be contacted in-game via evemail or private chat, or in this thread. ----- eveHOSTED - Hosting you can afford. eveTALK - Ventrilo / Teamspeak at affordable prices. intraPAY - A market tool of some kind... >_>.
Kouryusei Caldari The Bitter Sea Trading Company	Posted - 2009.05.23 20:02:00 - [2] Edited by: Kouryusei on 23/05/2009 20:03:52 - Share listing. All currently available shares are now either sold out or reserved. - Payment records. This section will be updated once the first dividend payment is issued. ----- eveHOSTED - Hosting you can afford. eveTALK - Ventrilo / Teamspeak at affordable prices. intraPAY - A market tool of some kind... >_>.
Kouryusei Caldari The Bitter Sea Trading Company	Posted - 2009.05.23 20:03:00 - [3] Edited by: Kouryusei on 23/05/2009 20:06:23 I would firstly like to apologize for my uncouth attitude that I displayed in my previous thread, I now realize that the posts made towards my investment opportunity were not hostility - but more a careful warning to adhere to proper practices. After having gone over the history of this forum today, I now understand that nothing personal was meant by it, and retrospectively speaking, I got off lightly. So, yet again, I would like to apologize for any untoward attitude that I may of shown to another forum member. A public audit is forthcoming. Fly safe and good profits to all. o/ ----- eveHOSTED - Hosting you can afford. eveTALK - Ventrilo / Teamspeak at affordable prices. intraPAY - A market tool of some kind... >_>.
YouGotRipped Ewigkeit	Posted - 2009.05.23 20:04:00 - [4] lol Black Sun Empire
Ray McCormack hirr	Posted - 2009.05.23 20:05:00 - [5] Edited by: Ray McCormack on 23/05/2009 20:06:23 Originally by: Kouryusei - Auditing. An audit is currently in progress. A character link audit has been performed by two non-biased people, and a full audit is in progress by a respected auditor. Names please, confirmation please. I have zero respect for unnamed auditors. Also, not you again, Ralph? WTS Tech II Component BPO Sets \| Auction Prowler
Ji Sama Caldari Tash-Murkon Prime Industries	Posted - 2009.05.23 20:07:00 - [6] Edited by: Ji Sama on 23/05/2009 20:07:29 Brock is on the audit... Also confirming investment of 640M Quote: "Lecherito on Market Discussion: Though I have to go down on the record as saying that I'm convinced the majority of the MD community is ******ed"
Kouryusei Caldari The Bitter Sea Trading Company	Posted - 2009.05.23 20:07:00 - [7] Originally by: Ray McCormack Edited by: Ray McCormack on 23/05/2009 20:06:23 Originally by: Kouryusei - Auditing. An audit is currently in progress. A character link audit has been performed by two non-biased people, and a full audit is in progress by a respected auditor. Names please, confirmation please. I have zero respect for unnamed auditors. The full audit is being done by Brock Nelson, a recommended auditor who appears to be fairly respected round here. ----- eveHOSTED - Hosting you can afford. eveTALK - Ventrilo / Teamspeak at affordable prices. intraPAY - A market tool of some kind... >_>.
Nuldat	Posted - 2009.05.23 20:16:00 - [8] I would like to reserve 20 shares, pending the completion of the full audit (and a post by the auditor).
YouGotRipped Ewigkeit	Posted - 2009.05.23 21:00:00 - [9] Edited by: YouGotRipped on 23/05/2009 21:01:01 I guess we'll just have to wait for an auditor then. Black Sun Empire
Varo Jan Minmatar	Posted - 2009.05.23 21:19:00 - [10] Confirming reservation of shares to the value of one hundred million ISK in Bitter Sea Trading. Payment contingent on satisfactory audit by Brock Nelson.

Kouryusei Caldari The Bitter Sea Trading Company	Posted - 2009.05.23 21:27:00 - [11] Originally by: YouGotRipped Edited by: YouGotRipped on 23/05/2009 21:15:08 Kouryusei is exhibiting signs of Riethe-ness and his intrapay trading companion whose release he insists to delay is actually a bad joke (nothing more than a manufactured JPG). As it is a free product which I am developing in my spare time, I will delay it until I am happy with it; it's that simple. :) Aside from that, reported for trolling. If you have comments regarding intraPAY, direct them to the right thread. If you have a comment regarding this investment opportunity, then by all means, post it in this thread. ----- eveHOSTED - Hosting you can afford. eveTALK - Ventrilo / Teamspeak at affordable prices. intraPAY - A market tool of some kind... >_>.
YouGotRipped Ewigkeit	Posted - 2009.05.23 21:29:00 - [12] Originally by: Kouryusei Originally by: YouGotRipped Kouryusei is exhibiting signs of Riethe-ness and his intrapay trading companion whose release he insists to delay is actually a bad joke (nothing more than a manufactured JPG). As it is a free product which I am developing in my spare time, I will delay it until I am happy with it; it's that simple. :) I beg to differ Sir, for now let's wait for that audit. Black Sun Empire
RJ Nobel	Posted - 2009.05.23 21:31:00 - [13] I am not an investor in Bitter Sea, and at this point I have no desire to invest. That being said, Kouryusei deserves some acknowledgement for re-opening his IPO thread. Admitting to a mistake, especially in the often-hostile MD environment, isn't easy. Good luck to Kouryusei and his investors.
Brock Nelson Caldari Flux Technologies Inc	Posted - 2009.05.24 07:30:00 - [14] Confirming that I'm auditing Kouryusei Blueprint Store
Mme Pinkerton Caldari	Posted - 2009.05.24 09:00:00 - [15] Originally by: Kouryusei If we see a market shortage of a specific item, we'll manufacture it (we provide the majority of our own minerals, so profit returns are greater) and sell it for a considerable return. ever heard of opportunity cost? (hint: you can't sell minerals you use for manufacturing)
YouGotRipped Ewigkeit	Posted - 2009.05.24 09:02:00 - [16] Edited by: YouGotRipped on 24/05/2009 09:06:45 Originally by: Mme Pinkerton Originally by: Kouryusei If we see a market shortage of a specific item, we'll manufacture it (we provide the majority of our own minerals, so profit returns are greater) and sell it for a considerable return. ever heard of opportunity cost? (hint: you can't sell minerals you use for manufacturing) FFS, the guy created his char on 08.05.2009 sure he'll manufacture it. Black Sun Empire
Kouryusei Caldari The Bitter Sea Trading Company	Posted - 2009.05.24 17:30:00 - [17] Edited by: Kouryusei on 24/05/2009 17:35:44 Edit: This audit was performed by Brock Nelson, his name doesn't appear to be anywhere. Here are the results of the audit, I have asked Brock Nelson to post in the thread to confirm these are the actual results. http://intrapay.co.uk/audit.pdf Following are my replies to any concerns raised within it. -- Quote: Personal liability of 400M. As this was a personal loan made to me initially before I had any actual ISK. I did not find it relevant to the IPO as this could be easily repaid through the sale of a few Teamspeak server rentals (amongst other things, I received 500M as a retainer from a prominent forum member simply to give him technical advice; so generation of ISK is not a problem \o/). It is not linked to the corporation, and is not a liability. It will be repaid within the allotted timescale, and would of been done sooner had I not been using the personal ISK generated to get further within the game. :) Skills. The Kou Avery account was created today solely to burn through the trading skills with the 1.6M SP boost. Eiroze focuses on hauling (she has limited skills as she is solely targeted towards a freighter), whilst I focus on manufacturing (amongst other things). As a side note, Eiroze is not my account; it is that of my wife. :) ----- eveHOSTED - Hosting you can afford. eveTALK - Ventrilo / Teamspeak at affordable prices. intraPAY - A market tool of some kind... >_>.
Kouryusei Caldari The Bitter Sea Trading Company	Posted - 2009.05.24 17:31:00 - [18] If as a result, any reserved shareholders would not like to pull out; please state so in this thread. Existing shareholders, contact me in-game if you would like to back out. :) ----- eveHOSTED - Hosting you can afford. eveTALK - Ventrilo / Teamspeak at affordable prices. intraPAY - A market tool of some kind... >_>.
YouGotRipped Ewigkeit	Posted - 2009.05.24 17:50:00 - [19] lol, what? Black Sun Empire
RJ Nobel	Posted - 2009.05.24 18:07:00 - [20] Edited by: RJ Nobel on 24/05/2009 18:11:45 Why exactly are you posting Brock's audit for him? I suspect that Brock sent the results to you for a review and response. Did Brock ask you to post the results for him (which would be exceedingly odd), or did you decide to publish the results on your own? I'm not directly saying that you altered the results or are in any way trying to be deceptive. However, posting the audit like this is, IMHO, quite harmful to the validity of the audit. I'm not accusing you of being a scammer. I think you've tried to meet all the reasonable criteria that MD can provide for identifying scammer's. Unfortunately, this adds another error to a series of poor decisions regarding your IPO. Honest or not, you're not making a good impression. Edit: And just so I'm clear, I think Brock did a good job with the audit - as posted by Kouryusei...

Brock Nelson Caldari Flux Technologies Inc	Posted - 2009.05.24 18:22:00 - [21] Edited by: Brock Nelson on 24/05/2009 18:23:30 Sorry about that guys, I was under the impression that I was to post the audit result myself. I've sent the result to Kouryusei for him to review prior to my posting the result, I didn't actually said it was ok for him to post it. Edit: I reviewed the posting by Kouryusei and didn't find much differences. Seems everything happened too fast. Any ways, here's my result posting so that it can't be altered. The Bitter Sea Trading Company IPO Audit Result Business Plan Analysis The business plan is a bit vague; the IPO document states that Bitter Sea Trading Company will do trade and manufacturing. Corporation HereÆs a quick financial overview of The Bitter Sea Trading Company: Liquid Asset: 855m Market Orders: 873m Asset: 564m Total NAV: 2,294b The majority of funding came from sales of PLEX on the market. Character Analysis As part of Character Analysis, I went through Eve-search, corporate history and skill to verify that there is no scam attempts, questionable conducts, omitted information that may not have been included on the OP. Kouryusei IÆve searched for this Character through Eve-search for prior posting history and very little is found outside of Market Discussion. Some were found for timecard purchase, vent server rental, and purchase of blueprints. A quick look at his transaction reveals trading in common market items, however looking at his journals; one interesting entry was found: 1.Undeclared Liabilities? 400,000,000 were loaned to Kouryusei @ 20% for 31 days. This was found in comments of a transfer between Kouryusei and omitted by request. Liabilities were not listed in the IPO document. The IPO document states that the business plan involves doing manufacturing and trading. Transaction entries has shown that trade is being conducted; however it should be noted that there is a lack of extensive trade skill that are relevant (ie: lack of skills and standing to drive down transaction tax cost, etc). Kouryusei does however have sufficient skill to do manufacturing and is currently working on improving his refinery and production efficiency skills. Other Alts Kouryusei has 3 accounts, each one has only one alt in it; the oldest being Kouryusei at an age of less than a month. Both alts have no posting history, nor do they have many skills. -Eiroze was created on May 6 and will be used for hauling goods. -Kou Avery was created on May 24 and has not had any skilled started as of this time. Notable Information I should point out that Kouryusei had made some purchase from Flux Technologies Inc for blueprints. Those blueprints are researched blueprints, mostly T1 Shield Modules that were sold at NPC price as opposed to Research Cost price due to slow turnaround. Final Thought Trade history is unproven and marginal at best but Kouryusei has found some good deals that can be used to make good profit margin. Eve Online û Verify Employment History Evemon û Verify Skill EMMA û Verify trade history Blueprint Store
Kouryusei Caldari The Bitter Sea Trading Company	Posted - 2009.05.24 18:24:00 - [22] Originally by: RJ Nobel Edited by: RJ Nobel on 24/05/2009 18:11:45 Why exactly are you posting Brock's audit for him? I suspect that Brock sent the results to you for a review and response. Did Brock ask you to post the results for him (which would be exceedingly odd), or did you decide to publish the results on your own? I'm not directly saying that you altered the results or are in any way trying to be deceptive. However, posting the audit like this is, IMHO, quite harmful to the validity of the audit. I'm not accusing you of being a scammer. I think you've tried to meet all the reasonable criteria that MD can provide for identifying scammer's. Unfortunately, this adds another error to a series of poor decisions regarding your IPO. Honest or not, you're not making a good impression. Edit: And just so I'm clear, I think Brock did a good job with the audit - as posted by Kouryusei... I honestly did not see a problem with uploading it, and getting him to confirm. If this is against generic MD policy, then I apologize to the utmost. Brock will be posting the audit himself as well. :) ----- eveHOSTED - Hosting you can afford. eveTALK - Ventrilo / Teamspeak at affordable prices. intraPAY - A market tool of some kind... >_>.
YouGotRipped Ewigkeit	Posted - 2009.05.24 18:39:00 - [23] Edited by: YouGotRipped on 24/05/2009 18:46:53 Originally by: Brock Nelson [...] Final Thought Trade history is unproven and marginal at best but Kouryusei has found some good deals that can be used to make good profit margin. This is a little bit too focused to not be someone with previous playing experience. Scam content has evolved, pretty much as I predicted (trading for a limited time (fresh char, small volume) in an attempt to render the audit useless). Also it's quite possible that previously he refused an audit in order to stall for time needed to delete a potentially compromising char. Black Sun Empire
Brock Nelson Caldari Flux Technologies Inc	Posted - 2009.05.24 18:53:00 - [24] Originally by: YouGotRipped Also it's quite possible that previously he refused an audit in order to stall for time needed to delete a potentially compromising char. It's possible but that's for everyone to judge, its up to investors to put the one and one together. As an auditor, I'm merely given access to verify some of the things that Kouryusei says, has done, and can do. I didn't detect anything indicate that there has been a prior character that got deleted. Blueprint Store
Kouryusei Caldari The Bitter Sea Trading Company	Posted - 2009.05.24 18:57:00 - [25] Originally by: YouGotRipped Edited by: YouGotRipped on 24/05/2009 18:50:48 Originally by: Brock Nelson [...] Final Thought Trade history is unproven and marginal at best but Kouryusei has found some good deals that can be used to make good profit margin. This is a little bit too focused to not be someone with previous playing experience. (2 weeks???) Scam content has evolved pretty much as I predicted (trading for a limited time (fresh char, small volume) in an attempt to render the audit useless). Also it's quite possible that previously he refused an audit in order to stall for time needed to delete a potentially compromising char. Nothing anyone will say will ever change my mind in regards to his true identity. I do indeed have previous playing experience, albeit limited. I played briefly during the beta, and again during last summer. It doesn't exactly take long to find out what makes a profit, either (I received advice from more then one trader, when I asked for it). In regards to the "stall for time needed", as soon as that was stated; I had two independent people check the character list for that sole purpose. Yes, you caught me out - I'm Santa Claus. Jesting aside, I'm sure over time I can prove otherwise to you. :) ----- eveHOSTED - Hosting you can afford. eveTALK - Ventrilo / Teamspeak at affordable prices. intraPAY - A market tool of some kind... >_>.
Varo Jan Minmatar	Posted - 2009.05.24 20:51:00 - [26] Quote: Business Plan Analysis The business plan is a bit vague; the IPO document states that Bitter Sea Trading Company will do trade and manufacturing. You mean the IPO document in the opening post of this thread, or a confidential document provided to you? Either way, did you attempt to obtain more detailed information from Kou to satisfy yourself as the auditor that the plan is feasible? Quote: Corporation HereÆs a quick financial overview of The Bitter Sea Trading Company: Liquid Asset: 855m Market Orders: 873m Asset: 564m Total NAV: 2,294b The majority of funding came from sales of PLEX on the market. What¦s your definition of liquid assets? Journal cash? I understand some people have already invested. Where is this reflected in the accounts? Quote: Kouryusei does however have sufficient skill to do manufacturing and is currently working on improving his refinery and production efficiency skills. He¦s not going to be an efficient producer until he hits production efficiency five. How long will that take? What percentage of his business plan is based on manufacturing versus trading? Quote: Notable Information I should point out that Kouryusei had made some purchase from Flux Technologies Inc for blueprints. Those blueprints are researched blueprints, mostly T1 Shield Modules that were sold at NPC price as opposed to Research Cost price due to slow turnaround. Are there any other outstanding transactions pending between Flux and Bitter Sea? Quote: Final Thought Trade history is unproven and marginal at best but Kouryusei has found some good deals that can be used to make good profit margin. That isn¦t clear. Could you expand on it, please?
Kouryusei Caldari The Bitter Sea Trading Company	Posted - 2009.05.24 21:01:00 - [27] Quote: That isn¦t clear. Could you expand on it, please? That would require disclosing my actual trading practices, which I am not willing to do. Suffice to say I am following "buy low, sell high" on high-margin items. :) ----- eveHOSTED - Hosting you can afford. eveTALK - Ventrilo / Teamspeak at affordable prices. intraPAY - A market tool of some kind... >_>.
Brock Nelson Caldari Flux Technologies Inc	Posted - 2009.05.24 21:02:00 - [28] Originally by: Varo Jan Quote: Business Plan Analysis The business plan is a bit vague; the IPO document states that Bitter Sea Trading Company will do trade and manufacturing. 1. You mean the IPO document in the opening post of this thread, or a confidential document provided to you? Either way, did you attempt to obtain more detailed information from Kou to satisfy yourself as the auditor that the plan is feasible? Quote: Corporation HereÆs a quick financial overview of The Bitter Sea Trading Company: Liquid Asset: 855m Market Orders: 873m Asset: 564m Total NAV: 2,294b The majority of funding came from sales of PLEX on the market. 2. What¦s your definition of liquid assets? Journal cash? I understand some people have already invested. Where is this reflected in the accounts? Quote: Kouryusei does however have sufficient skill to do manufacturing and is currently working on improving his refinery and production efficiency skills. 3. He¦s not going to be an efficient producer until he hits production efficiency five. How long will that take? What percentage of his business plan is based on manufacturing versus trading? Quote: Notable Information I should point out that Kouryusei had made some purchase from Flux Technologies Inc for blueprints. Those blueprints are researched blueprints, mostly T1 Shield Modules that were sold at NPC price as opposed to Research Cost price due to slow turnaround. 4. Are there any other outstanding transactions pending between Flux and Bitter Sea? Quote: Final Thought Trade history is unproven and marginal at best but Kouryusei has found some good deals that can be used to make good profit margin. 5. That isn¦t clear. Could you expand on it, please? Numbered for easy reference 1. There is no other document other than what is presented in this thread. During a private convo between Kouryusei and myself; he had stated that he intends to use his main char for trading, one of his alt for hauling and the other for production. 2. Liquid asset is simply cash, economics 101. 3. Production Efficiency V will take 11 days and 14 hours. What percentage of his business is for him to define. Like I said in the business plan analysis, his plan is vague. 4. There is no other outstanding transaction between Flux Technologies and The Bitter Sea Trading Company. Be happy that I even mentioned this point in the first place. 5. His trade history is unproven simply because he's a one month old player. My belief is that in order to be a proven trader, you'll have to experience both successful trade and trades that backfire on you. Blueprint Store
Ji Sama Caldari Tash-Murkon Prime Industries	Posted - 2009.05.24 21:26:00 - [29] Edited by: Ji Sama on 24/05/2009 21:26:40 just to clarify, i was under the impression that the hauler was his wife not his alt.... or? edit: his account should reflect a deposit of 640M of TMP Industries liquids. Quote: "Lecherito on Market Discussion: Though I have to go down on the record as saying that I'm convinced the majority of the MD community is ******ed"
Kouryusei Caldari The Bitter Sea Trading Company	Posted - 2009.05.24 22:03:00 - [30] Originally by: Ji Sama Edited by: Ji Sama on 24/05/2009 21:26:40 just to clarify, i was under the impression that the hauler was his wife not his alt.... or? edit: his account should reflect a deposit of 640M of TMP Industries liquids. Eiroze is my wife, as I've posted more then once, and emailed Brock (Secondly, Eiroze is not my account; it is that of my wife, :).). :) The account does indeed reflect that deposit, once it hit my account; it was added to the corporation; and your deposit went straight onto a tasty high margin opportunity I saw. :) ----- eveHOSTED - Hosting you can afford. eveTALK - Ventrilo / Teamspeak at affordable prices. intraPAY - A market tool of some kind... >_>.



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