CEOlaura tannen
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Posted - 2007.04.24 20:27:00 -
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Details:
20,000 bonds have been created in the investment corporation "Star Ship Enterprises" [SSE] and will be sold at 1 million isk each. We are limiting these bonds to a one year maturity date as the market one year from now could be changed in ways nobody can predict. Dividends of 10% of the invested isk will be paid out each month and at the maturity date, the initial investment will be paid out in full. This means that over the course of a year, your investment will yield 220% of the invested isk.
The first dividend will be on 1st June. After the first dividend has been paid, we will be accepting buybacks and bond conversions. A bond conversion is where you exchange a number of your bonds for an equal number of premium bonds. While a normal bond pays out 10% interest per month, a premium bond is a ticket in a lottery to win a larger portion of isk. Premium bonds can be converted back to normal bonds at any time. See below for more details on premium bonds.
I will be offering a limited buyback scheme. I will accept a total of 600 bonds sold back to me per month and will buy them back at a rate of 90% issue price (900k each). This is to discourage people from using me as a bank account, depositing and withdrawing their isk as they see fit, as this could be too much unneccecary work for me. The bonds which are sold back will be either kept by the corp if the wallet can handle it or re-issued if there is sufficient demand and it's not too much work.
Premium Bonds:
This is a first in eve, as far as I know. Once all bonds are sold and the first dividend is out, we will offer people the ability to convert their normal bonds into premium bonds. This will have to be done manually by contacting me and I'll tell you which character to send your bonds to. Each premium bond will be listed on the website ( will add soon) along with the owner's name and a number. Each month, when the dividend is paid out, the bonds in the premium bond wallet will recieve the portion of the dividend that represents the premium bonds. A real-life lottery or share index will be used to pick a number (or numbers) from the list on the website and the chosen winner(s) will recieve the entire wallet.
Essentially, everyone who changes their bonds for premium bonds is entering their monthly interest into a pool and that pool is randomly distributed to one or more bondholders via a lottery. Statistically, the payout on these bonds is identical to the payout on the normal bonds, the only difference being that you're gambling your steady returns for a chance at a huge return each month. A premium bond is like a permanant monthly lottery ticket and you can change it for a normal bond or cash out just the same as you would with a normal bond.
More details of the premium bonds will become availible after the first dividend is paid out. Bonds will be easily convertable back and forth between premium and normal, though I will have to do it manually.
Exit strategy:
These bonds have a fixed 1-year lifespan, after which the investment isk will be repaid to the investors in the form of a final dividend. To that end, partial or total liquidation will occur at the 11-12 month mark to get the wallet up to the initial investment of 20 billion.
In the event of the following list of things occuring, liquidation will occur ahead of schedule: - I cannot play eve any more for any reason. - The markets I am trading in crash horribly and suitable replacement markets to trade in cannot be found. - The total capital employed by myself and my corp falls to below 25b for some ungodly reason.
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