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RAW23
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Posted - 2011.07.22 16:09:00 -
[1]
This post is to inform investors in Tia Anthar's bond (http://www.eveonline.com/ingameboard.asp?a=topic&threadID=1546541&page=2) that Tia has contacted me to let me know that RL obligations will prevent her from continuing with the investment. Whether or not this will constitute a default remains to be seen. I have suggested that Tia will want to ensure that her investors are made whole in respect of both total loan value and interest (and I would also quite like my fee ) but have not yet heard back from her. My intention is to get this moving asap even in the absence of such data so as to preserve as much investor value as possible.
The current situation is that 7.85bil has been spent on 7 prints. I have, therefore, returned 8bil of the remaining 8.15bil in cash that I'm holding (sorry û the maths was easier leaving the 150mil out and I didn't have much free time today) and will return the remainder once I have sold the prints (as per the shut-down protocol agreed in Tia's thread).
Points to note: 1) Most of the prints were purchased somewhere between the mid and upper end of expected sales prices. It is possible that a small amount of isk will be lost on these prints but the chances of getting the full amount back is pretty good. However, two prints were purchased at prices substantially over what I would expect to be able to re-sell them for and it seems quite likely that a few hundred mil will be lost when these are liquidated.
2) Two of the prints in the normal range were sold to Tia by me and the prices I charged were in the upper range of what can be expected (900mil for a cap cargo bay print and 1.2bil for a cap construction parts print û both with over 150 me). Now, given that two of the other prints were substantially overpriced it has occurred to me that some might suggest either that Tia or myself have used this bond as a mechanism for offloading prints at inflated prices and at the expense of the investors. This is certainly not the case as far as I am concerned and I very much doubt it is in Tia's case either. However, in order to avoid any such claims I will be willing to take back my prints at the price I sold them for if 50% or more of the investors so request. I would ask that you only make such a request if you doubt my good faith in the initial sale.
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Stealing Honest
Stealing Honest Speculation Group LLC
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Posted - 2011.07.22 16:41:00 -
[2]
12 days?
Damn
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Caliph Muhammed
Caldari Caldari Naval Criminal Investigative Service
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Posted - 2011.07.22 16:56:00 -
[3]
Edited by: Caliph Muhammed on 22/07/2011 17:05:24 Nice bond. Too bad one blueprint wasn't purchased at a time to be sure everything was going to be handled as promised.
50% of the money sunk into blueprints and a closing within a month. Yuck.
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RAW23
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Posted - 2011.07.22 17:34:00 -
[4]
Originally by: Caliph Muhammed
I mean you did oversee the whole operation.
No I didn't. I was asked to serve as the third party securing the collateral, which I have done. I am now liquidating the bond on the agreed basis given that the bond issuer has informed me she will not be able to continue.
Quote:
You should cover the isk to payback the investors and sell the prints on your own time.
Again, no. Let me cite the relevant part of the original thread for you (post 15):
Originally by: RAW23
Tia - before we finalise things I'll need a list of the prints that will be purchased so that I can inform the investors what the total NPC value will be in order for them to be able to judge to what extent the bond will be collateralised.
In the event of a default I will put the prints up for sale at market value for two weeks. Any that are not sold by this point will be dropped to NPC price for a firesale unless two thirds of the investors vote to carry on with a slow sale approach for a maximum of two more weeks (voting to be weighted on a 1 isk / 1 vote basis). Any prints still remaining after the second two week period be be sold at NPC.
As you can see, the process of selling the prints so as to recover investor isk was the service I offered to provide and that was accepted by the investors. Any losses acruing from lower sales values are their's to absorb, not mine, although I will put my best effort into getting maximum value for them.
Originally by: Caliph Muhammed Edited by: Caliph Muhammed on 22/07/2011 17:12:47 Nice bond. Too bad one blueprint wasn't purchased at a time to be sure everything was going to be handled as promised.
50% of the money sunk into blueprints and a closing within a month. Yuck.
I'm not sure I understand your point here. The bond was to buy 16bil of prints, not one print at a time. Purchasing one at a time would have made the bond impossible as all the prints were needed for the production operation. What the investors signed up for was 100% of the isk being put into prints.
I have to say your comments are very poorly informed and suggest that you probably didn't read the thread that you are now commenting on the contents of.
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Caliph Muhammed
Caldari Caldari Naval Criminal Investigative Service
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Posted - 2011.07.22 17:42:00 -
[5]
Edited by: Caliph Muhammed on 22/07/2011 17:42:02 I'm just raking you over the coals brosef as you did me when all I wanted was 1000 ISK per share for a fund that isn't a scam, has lived up to its word and is still going strong.
Nothing personal, I don't have an issue with you, i'm just seizing an opportunity. I'm sure you'll handle it satisfactory to the investors.
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Elise DarkStar
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Posted - 2011.07.22 17:46:00 -
[6]
Originally by: Caliph Muhammed Edited by: Caliph Muhammed on 22/07/2011 17:42:02 I'm just raking you over the coals brosef as you did me when all I wanted was 1000 ISK per share for a fund that isn't a scam, has lived up to its word and is still going strong.
Nothing personal, I don't have an issue with you, i'm just seizing an opportunity. I'm sure you'll handle it satisfactory to the investors.
Ya, well done, bro. He sure looks silly now that you've taken it to him. That should square things up and teach him not to mess with you again.
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Caliph Muhammed
Caldari Caldari Naval Criminal Investigative Service
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Posted - 2011.07.22 17:49:00 -
[7]
The goal wasn't to injure. Just stir. I don't have a problem with RAW and im not invested in this bond. It's outcome, aside from sympathy to those who lose money by trying to help others, doesn't affect me.
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Elise DarkStar
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Posted - 2011.07.22 17:54:00 -
[8]
Originally by: Caliph Muhammed The goal wasn't to injure. Just stir. I don't have a problem with RAW and im not invested in this bond. It's outcome, aside from sympathy to those who lose money by trying to help others, doesn't affect me.
Your ability to maintain a coherent message through all this is exemplary and worthy of great praise. You've been a shining beacon for all those who try to enforce a modicum of sanity and order in this crazy and chaotic world. I see great things from you in the future.
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Bad Bobby
Genos Occidere HYDRA RELOADED
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Posted - 2011.07.22 17:57:00 -
[9]
What are the outstanding BPOs, their research levels and the prices paid?
I might be able to take them off you.
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Caliph Muhammed
Caldari Caldari Naval Criminal Investigative Service
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Posted - 2011.07.22 18:14:00 -
[10]
Edited by: Caliph Muhammed on 22/07/2011 18:20:45
Originally by: Elise DarkStar
Originally by: Caliph Muhammed The goal wasn't to injure. Just stir. I don't have a problem with RAW and im not invested in this bond. It's outcome, aside from sympathy to those who lose money by trying to help others, doesn't affect me.
Your ability to maintain a coherent message through all this is exemplary and worthy of great praise. You've been a shining beacon for all those who try to enforce a modicum of sanity and order in this crazy and chaotic world. I see great things from you in the future.
BitterVet? You phrase "consistency and coherency through all of this" when its what? Two posts? Exaggerate much?
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trance atlas
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Posted - 2011.07.22 18:20:00 -
[11]
hey i invested in this.
how did you divvy up the 8 bil was it 50% to each investor, or dude A got his whole 1 bil back dude B got his whole 150 mil back ?
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RAW23
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Posted - 2011.07.22 18:38:00 -
[12]
@Trance û Each investor got 50% of their investment back as this isk had not yet been spent.
@Bobby û I'll mail you the list and you can make offers on anything that interests you. But for the first two weeks I will be looking for the maximum possible retail value. After that the prints may drop to firesale depending on the wishes of the investors.
@Caliph - ow ... the coals ...
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Faith Clothos
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Posted - 2011.07.22 18:38:00 -
[13]
Edited by: Faith Clothos on 22/07/2011 18:38:30 Great posts Caliph.
How goes it? Better to keep your mouth shut and be thought a fool than to open it and... something
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Bad Bobby
Genos Occidere HYDRA RELOADED
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Posted - 2011.07.22 18:45:00 -
[14]
Originally by: RAW23 @Bobby û I'll mail you the list and you can make offers on anything that interests you. But for the first two weeks I will be looking for the maximum possible retail value. After that the prints may drop to firesale depending on the wishes of the investors.
Ok, please post here when the mail has been sent so I know to log on and check.
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Shadowed Figure
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Posted - 2011.07.22 18:54:00 -
[15]
RAW23, you have mail. I may be interested in the blueprints as well. Please respond when convenient. |
RAW23
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Posted - 2011.07.22 19:04:00 -
[16]
I'm afraid I won't be able to do the list until tomorrow but I'll post here when I've sent it to both of you.
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trance atlas
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Posted - 2011.07.22 19:10:00 -
[17]
Originally by: RAW23 I'm afraid I won't be able to do the list until tomorrow but I'll post here when I've sent it to both of you.
not busting your balls, just interested could you not post all the bpos so someone browsing can make a offer?
semi cool bpo #4 me8 pe 1 cool bpo #3 me4 pe 9001?
ect
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Caliph Muhammed
Caldari Caldari Naval Criminal Investigative Service
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Posted - 2011.07.22 19:14:00 -
[18]
Edited by: Caliph Muhammed on 22/07/2011 19:17:20
Originally by: Faith Clothos Edited by: Faith Clothos on 22/07/2011 18:38:30 Great posts Caliph.
How goes it? Better to keep your mouth shut and be thought a fool than to open it and... something
Your arrival alongside Elise was predictable.
The wagons are circling.....
I see the silohuette of "Eternal Liberty" on the horizon.
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Bad Bobby
Genos Occidere HYDRA RELOADED
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Posted - 2011.07.22 19:15:00 -
[19]
Originally by: trance atlas not busting your balls
I think you're busting his balls.
Let the man enjoy his evening and deal with his spacefriends later.
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RAW23
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Posted - 2011.07.22 19:16:00 -
[20]
Edited by: RAW23 on 22/07/2011 19:17:09
Originally by: trance atlas
Originally by: RAW23 I'm afraid I won't be able to do the list until tomorrow but I'll post here when I've sent it to both of you.
not busting your balls, just interested could you not post all the bpos so someone browsing can make a offer?
semi cool bpo #4 me8 pe 1 cool bpo #3 me4 pe 9001?
ect
I can post the BPOs but not their me/pe as I would have to log in to retrieve the details.
BPOs 2 x Cap Construction Part 3 x Cap Cargo Bay 2 x Orca
All are well researched. Comps are pretty much all over 100 me iirc and the Orcas are 2/1 and 3/1 if memory serves.
Since this is now a BPO sale thread I also have a pretty full range of the other comp prints available as well if anyone is looking for a package.
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trance atlas
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Posted - 2011.07.22 19:18:00 -
[21]
Edited by: trance atlas on 22/07/2011 19:19:32
Originally by: Bad Bobby
Originally by: trance atlas not busting your balls
I think you're busting his balls.
Let the man enjoy his evening and deal with his spacefriends later.
How do you know it's evening it could be lunch. Edit thanks for the list
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Ottro Aoki
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Posted - 2011.07.22 19:23:00 -
[22]
http://www.eveonline.com/ingameboard.asp?a=topic&threadID=1552518&page=1#2
Toon has been pimped around the toons forum for a while now.
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RAW23
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Posted - 2011.07.22 19:26:00 -
[23]
Originally by: trance atlas Edited by: trance atlas on 22/07/2011 19:19:32
Originally by: Bad Bobby
Originally by: trance atlas not busting your balls
I think you're busting his balls.
Let the man enjoy his evening and deal with his spacefriends later.
How do you know it's evening it could be lunch. Edit thanks for the list
T'is the evening but don't worry about it. I'm working rather than enjoying myself but if the wife sees me logging in she'll think 'work' was just an excuse for 'play' and she puts out far too much dps for me to tank.
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Bad Bobby
Genos Occidere HYDRA RELOADED
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Posted - 2011.07.22 19:28:00 -
[24]
Originally by: trance atlas How do you know it's evening it could be lunch.
Because I've been around here long enough to know the regulars.
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trance atlas
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Posted - 2011.07.22 19:39:00 -
[25]
Originally by: Bad Bobby
Originally by: trance atlas How do you know it's evening it could be lunch.
Because I've been around here long enough to know the regulars.
I bet you don't know that t4u guy
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Brock Nelson
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Posted - 2011.07.23 00:06:00 -
[26]
Originally by: trance atlas
Originally by: Bad Bobby
Originally by: trance atlas How do you know it's evening it could be lunch.
Because I've been around here long enough to know the regulars.
I bet you don't know that t4u guy
notsureifserious.jpg
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Breaker77
Gallente Reclamation Industries
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Posted - 2011.07.23 00:22:00 -
[27]
Originally by: RAW23
BPOs 2 x Cap Construction Part 3 x Cap Cargo Bay 2 x Orca
All are well researched. Comps are pretty much all over 100 me iirc and the Orcas are 2/1 and 3/1 if memory serves.
Ugh, I'd make you an offer on all of them, but the ME 3 orca print bugs me. The breakpoints for ME research on an orca are 1, 2, THEN 6
Besides if I bought anymore Orca BPOs I'd have to buy another full set of BPOs so I'd have to buy a total of 7 more Orca BPOs. I'm rich, but not that rich. Ok so I am that rich
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Strrog
Caldari Zero Excavations
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Posted - 2011.07.23 01:09:00 -
[28]
I confirm that I received 2 bill back from 4 invested.
So I do not quite understand this, we had full collateral for this bond and only now it turns out to be over the market price initial assessment?
Will be monitoring this thread only as the other one has no post about the closure.
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Zeta Zhul
Caldari Preemptive Paranoia
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Posted - 2011.07.23 03:41:00 -
[29]
Originally by: trance atlas
Originally by: Bad Bobby
Originally by: trance atlas How do you know it's evening it could be lunch.
Because I've been around here long enough to know the regulars.
I bet you don't know that t4u guy
Ok now that's funny.
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RAW23
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Posted - 2011.07.23 05:55:00 -
[30]
Originally by: Strrog I confirm that I received 2 bill back from 4 invested.
So I do not quite understand this, we had full collateral for this bond and only now it turns out to be over the market price initial assessment?
When I took this job on I tried to make it clear to investors that the bond would NOT be 100% collateralised at firesale values since it would involve buying researched prints. The relevant posts on this issue are cited below.
Originally by: RAW23 Tia - before we finalise things I'll need a list of the prints that will be purchased so that I can inform the investors what the total NPC value will be in order for them to be able to judge to what extent the bond will be collateralised. In the event of a default I will put the prints up for sale at market value for two weeks. Any that are not sold by this point will be dropped to NPC price for a firesale unless two thirds of the investors vote to carry on with a slow sale approach for a maximum of two more weeks (voting to be weighted on a 1 isk / 1 vote basis). Any prints still remaining after the second two week period be be sold at NPC.
Originally by: RAW23 Edited by: RAW23 on 08/07/2011 12:11:16 Just had a look at the prints - NPC value will be c. 11.3bil.
Edited to correct the figure (I missed one print the first time round).
Originally by: RAW23 The 11.3bil is the NPC value and is just noted here so investors have an idea of the firesale value of the prints.
On another note, the reason I am giving this its own thread is because the other thread can always be locked at the OP's request and I prefer not to put the administration of the liquidation in the hands of the bond issuer.
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