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RD Manager
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Posted - 2007.10.05 20:44:00 -
[1]
This is a prospectus. There are no shares for sale yet. I'm looking for feedback with any potential flaws in my business plan. I'm also looking to gauge interest as it is not worth going forward with this unless I can sell most or all of the shares.
Section 1 - Overview
The purpose of this corporation is to speculate on the value of many different items that may increase in value as a result of the Revelations 3 expansion. The corporation will acquire items, hold onto them until after the patch, and then sell them off at the highest prices possible. This is a relatively short term investment and will not continue operations indefinitely. The sole purpose is to profit from changes introduced in Revelations 3. This is a high risk, high return, short term investment.
Section 2 - Detailed Business Plan
Much information on the upcoming expansion has been released already and it is currently ramping up for a testing period on the Singularity server which will undoubtedly reveal more information. Every patch in the past has brought great profits to those who did the work to predict the market and followed through with the investment of ISK. Revelations 3 will no doubt follow in that path, and perhaps more so with many new Tech 2 ships being introduced.
Revelations Direct will use whatever information it can to direct purchasing of assets that will most likely rise in value when the patch comes out. Investment in these assets will begin as soon as ISK starts coming in from share sales. All ISK that comes from share sales will be invested into the market as fast as prudence allows in order to take advantage of this time sensitive opportunity. Preferably all ISK will be invest at least two weeks before the release of the patch, which is projected for mid November.
Once all ISK is invested the corporation will go "dormant" until the release of the patch. Upon release of the patch the assets will begin to be sold. The goal is to sell them at the highest price possible and many of the price changes as a result of the patch may take days, week, or perhaps a month or more to materialize. Extracting maximum profit will be the goal and part of this is selling off the assets at the correct time.
Upon liquidation of all assets the corporation will distribute the ISK and cease to function.
Section 3 - Conditions of Investment
This is a high risk, high return, short term investment. It is high risk because there's no way to project what the final price of the invested items may be. Not all changes in the patch are known and some may reduce the value of these assets rather than increase them. There is no guaranteed rate of return. It is high return because all the known changes point to the investment potentially increasing in value many times over. Some of the assets will most likely increase 5 to 10 fold. The investment will be spread over a number of different types of items in order to limit exposure but the risk is still high.
The release date of the expansion is variable and thus I cannot give an exact date for complete liquidation. Rather, liquidation will be completed no later than two months from the date of the release of the expansion.
Section 4 - Asset Disclosure and Reporting
Prior to and during the investment period I will not disclose what items will be invested in so as to limit potential competition and prevent people from attempting to hurt the investment. However, on liquidation of the corporation I will publicly release a detailed list of purchases and sales so that anyone may confirm the legitimacy of the operation.
I will provide biweekly reporting that includes total value of assets at current Jita values as well as how much ISK the corp has. These numbers do not translate directly into corp value because Jita sell values don't always materialize, however the number will be useful for getting some idea of how the investment is doing.
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RD Manager
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Posted - 2007.10.05 20:44:00 -
[2]
Section 5 - Trust
Why should you trust me? I can't give great reasons as I have mostly kept to myself in my time playing. I first began playing in 2004 but only played on an off for a few months at a time. I began trading last December and parlayed 500k ISK starting funds into a billion within a month. Since then I have been active occasionally in the Market Discussion forum which at least proves I have an interest in the market. Beyond that I don't have any way to prove my legitimacy. This offering will be far too large to secure in any meaningful way so all you have is my word. At the very least, the operation will be very simple and very easy to audit at the end (or even during by a trusted party) so skimming off the top won't be feasible in any way.
Section 6 - Administrative Salary
I will be taking 25% of all profits as my salary for running this corporation. This is the motivation for me to do a good job and the assurance that I will do my absolute best to make a profit for the corporation.
Section 7 - Offering Details
* Share value: 1 million * Number of Shares: 30000 * Total value: 30 billion
Shares will be sold on a first come, first serve basis with any extra ISK being returned to those who sent it. Share sales will be closed two weeks from the date of initial offering. This is a time sensitive investment and beyond that time it will be difficult to invest the ISK effectively. As this plan scales easily with any amount of ISK there will be no negative drawback to shareholders, only to my administrative salary.
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Benvie
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Posted - 2007.10.05 20:45:00 -
[3]
Confirming this is my alt.
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Chichis
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Posted - 2007.10.05 20:49:00 -
[4]
Edited by: Chichis on 05/10/2007 20:49:36 Confirming this as my original character to show how long I have been playing the game, even if on and off.
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Matalino
Gallente Ki Tech Industries
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Posted - 2007.10.05 21:11:00 -
[5]
Edited by: Matalino on 05/10/2007 21:15:50 Sounds very interesting.
Personally I have a preference for longer term more stable returns so I don't expect to invest, but I hope that my comments might still be of some value.
Regarding Section 4 - I completely understand the need for limited disclosure, but are you concidering the inclusion of 1 or 2 trusted overseers to provide assurance to investors that the sepeculation is well grounded, and possibly provide some added insight into the projected market?
I am NOT volunteering for the job myself. I don't think that I am qualified in that area. However, I can say from my recent expirience that having a trusted third party advisor can be helpful, both in vetting ideas and assuring investors.
Also regarding Section 4 - I would recommend that at the end of the venture you also disclose your reasons for selecting the items that you did, both the successful and unsuccessful. Writing down those reasons prior to purchasing might help you reverify for your own benifit that your speculation is well grounded.
Regarding Section 6 - you have stated how you can share in the success, but you have not stated how you might share in the case of failure. I think that it would show some added responsiblity if you where to accept partial liablity in the case of a net loss. Just since you mentioned 25% of profits, you might think to offer to assorb 25% of losses.
Not sure which section it would belong in, but what is your estimated time of opperation post patch. Some adjustments take hours, others take months. I think it would be wise for you to decide now on a term (obviously not a date as we don't know when the patch will be) by the end of which you will have liquidated the assest unless a revision to that term is approved by shareholders. If I were to select a term I would say either 2 or 3 months.
Those are just some thoughts. In all, you proposal sounds like an very interesting idea.
I know that I got very lucky last year as I happened to be work mineral recycling when Pyrite prices went through the roof and made a tidy profit on that patch.
Best of luck on your speculations.
************************** Datacore Harvesting IPO |
Benvie
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Posted - 2007.10.05 21:22:00 -
[6]
Originally by: Matalino Regarding Section 4 - I completely understand the need for limited disclosure, but are you concidering the inclusion of 1 or 2 trusted overseers to provide assurance to investors that the sepeculation is well grounded, and possibly provide some added insight into the projected market.
I agree and I had hoped to do this but I didn't want to write it in as a guaranteed thing. I will get in contact with some people that I would consider for the position and hopefully update with information regarding it.
Originally by: Matalino Also regarding Section 4 - I would recommend that at the end of the venture you also disclose your reasons for selecting the items that you did, both the successful and unsuccessful. Writing down those reasons prior to purchasing might help you reverify for your own benifit that your speculation is well grounded.
I agree and a very good idea. I will add this in.
Quote: Regarding Section 6 - you have stated how you can share in the success, but you have not stated how you might share in the case of failure. I think that it would show some added responsiblity if you where to accept partial liablity in the case of a net loss. Just since you mentioned 25% of profits, you might think to offer to assorb 25% of losses.
I can't guarantee this, as I don't currently have enough isk to cover a huge loss. However, I do have profitable business ventures going on the side and I think by the time liquidation is finished I might be able to cover a pretty substantial loss. I'll think on how I can update this.
Quote: Not sure which section it would belong in, but what is your estimated time of opperation post patch. Some adjustments take hours, others take months. I think it would be wise for you to decide now on a term (obviously not a date as we don't know when the patch will be) by the end of which you will have liquidated the assest unless a revision to that term is approved by shareholders. If I were to select a term I would say either 2 or 3 months.
I think you missed this line in Section 3: "The release date of the expansion is variable and thus I cannot give an exact date for complete liquidation. Rather, liquidation will be completed no later than two months from the date of the release of the expansion." I hope that addresses your concern.
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Argenton Sayvers
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Posted - 2007.10.05 21:30:00 -
[7]
1. Great idea, conceptually this is one of the best ones so far, taking eve's game mechanics into account. *finite duration *obvious benefits for BOTH you and the investors (you lack cash, investor lacks knowledge of game mechanics and the iron will to profit) *Educational purpose as post-patch profits will be documented
2. Trust issues are obvious. While 30b is not enough to do some major profiteering, handing 30b over to someone who might actually end up making 300b out of it is pretty ... risky. This is the perfect scam - you have a perfect reason to not talk about anything relating to your qualification or your actual investment plan. You have to make up for that problem somehow.
3. I second the need for a trusted 3rd party to get some form of aproval and (partial) information on planned investments.
4. What special qualities do you have (and how can you prove them to the investors)? The plan is rock solid (people are going to get very rich with Rev3 - unless CCP is on a crusade to burn the patch profiteering crowd). But what can you predict that others cannot?
No need to disclose really unusual investments, but things like "datacores" or "decryptors" or "buying BS BPOS to copy" are pretty obvious and i doubt that it would be to dangerous to share with market forum folk.
5. Do you have a plan already on what to buy or do you want to try to race the other SiSi campers when more information is released? I would think its a mixed approach, X% longterm plan, Y% zero-hour profiteering. Give X and Y.
6. You are about 20h too late ...
Having said that, i might be interested in investing 500m, just to see what you think were the right investment choices, providing you can provide some analysis (or links to earlier threads of yours) that i think are worth throwing away 500m for.
However, i will still need to do a basic background check...
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Matalino
Gallente Ki Tech Industries
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Posted - 2007.10.05 21:31:00 -
[8]
Originally by: Benvie I can't guarantee this, as I don't currently have enough isk to cover a huge loss. However, I do have profitable business ventures going on the side and I think by the time liquidation is finished I might be able to cover a pretty substantial loss. I'll think on how I can update this.
I realized that after I went back to look at the size of the offering, and so I editted my orginal post to say, "up to a certain amount." But I will leave it to you to think of exactly how you want to offer assurances in the case of a net loss. I only wanted to get you thinking about that possiblity.
Originally by: Benvie I think you missed this line in Section 3: "The release date of the expansion is variable and thus I cannot give an exact date for complete liquidation. Rather, liquidation will be completed no later than two months from the date of the release of the expansion." I hope that addresses your concern.
Ya, I must have missed that part.
************************** Datacore Harvesting IPO |
Benvie
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Posted - 2007.10.05 21:46:00 -
[9]
Originally by: Argenton Sayvers Trust issues are obvious. While 30b is not enough to do some major profiteering, handing 30b over to someone who might actually end up making 300b out of it is pretty ... risky. This is the perfect scam - you have a perfect reason to not talk about anything relating to your qualification or your actual investment plan. You have to make up for that problem somehow.
Most definitely and I realize I'm seriously going out on a limb here asking for so much ISK while being so unknown. In most circumstances I would not have done it, but in order for this to be successful I have to strike while the iron's hot. Huge opportunities like this don't come about very often, this is going to be one of the bigger patches in terms of introducing new ships (and profit opportunity).
I don't know any way I can make up for the lack of reason to trust me. I tried not to make a huge point of the potential returns this investment could make, as that seems to be common theme with scams. I have also tried to make a point that the venture itself, outside of the trust issue, is inherently risky as it's essentially a bet on the future of certain items.
Originally by: Argenton Sayvers What special qualities do you have (and how can you prove them to the investors)?
One of the biggest things with this coming patch is the ships, which are dependent on Invention. My only personal business right now is in invention and tech 2 production, at which I make a very good return. I believe my understand of the way Invention works puts me ahead of the majority of people. That's not to say there isn't other people with the same ability and knowledge I have, and I'm sure there's a number on this forum who know as much as I know. None of them, however, seemed to be taking the initiative to make a public offering having to do with this.
Another "special" quality is that I don't have nearly enough of my own capital to profit of the coming patch by myself, despite knowing so much about it. Many people have their own private investments in this and as such are not interested in running a public one. All my money is tied up right now in increasing the capabilities of my own invention and tech 2 production operation, because I personally plan to profit off the patch as well by being ready to produce the new ships.
Originally by: Argenton Sayvers But what can you predict that others cannot?
Absolutely nothing. But that doesn't matter because the majority of people don't think that far ahead and those that don't plan ahead will make many people rich when the patch comes out, the ones that did plan ahead.
Originally by: Argenton Sayvers No need to disclose really unusual investments, but things like "datacores" or "decryptors" or "buying BS BPOS to copy" are pretty obvious and i doubt that it would be to dangerous to share with market forum folk.
I intend to invest a bulk of the capital in things relating to invention. That is the biggest hotbed of activity for this patch. The prices of datacores, decryptors, and ship data interfaces are already on the rise. I could easily spend the entire 30 billion and more on these if I wanted. There are a few other opportunities as well that I will put some of the isk in. As I said in the prospectus I plan to spread the ISK around a little in order to hedge my bets in case something unforeseen happens.
Quote: Do you have a plan already on what to buy or do you want to try to race the other SiSi campers when more information is released? I would think its a mixed approach, X% longterm plan, Y% zero-hour profiteering. Give X and Y.
Definitely a combination. The goal is to try and make as much ISK as possible. Much of the ISK will be invested right away but some will be kept for a bit so I can take advantage of any new opportunities that rise. All the ISK will be invested before the patch, and most will be invested 2 weeks before the patch.
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Argenton Sayvers
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Posted - 2007.10.05 22:12:00 -
[10]
Alright, you say you have knowledge with t2 production and invention. I think it would be fair to disclose some information here:
Write up (as detailed as possible) your experience with invention (from your very beginnings to now). Do it as you see fit, i will ask specific questions when i see fit. Think of it as writing your life story rather then a short paragraph. No need to give away secrets or game mechanics, but you are free to brag if you know things most people dont (like exact chances for invention).
Some random questions:
What t2 BPOS are you producing from? Since when? Why is your corp only 15 days old? How many POS towers, if any. What have you done in your eve career before you started invention? How much private capital do you have? Any real people in the corp besides industrial alts?
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Kazuo Ishiguro
House of Marbles Zzz
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Posted - 2007.10.05 22:25:00 -
[11]
If you're prepared to cover investments by handing over some of your own assets to a trusted third party, you can put me down for 200m or so. My research services Spreadsheets: Top speed calculation - Halo Implant stats |
Benvie
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Posted - 2007.10.05 22:44:00 -
[12]
Edited by: Benvie on 05/10/2007 22:44:30 I first started playing sometime in 2004. My first couple years playing I would go through the same cycle. I would do something with mining or some missions or whatever and then get frustrated after a few weeks or a few months that I would always be behind due to the way the skill system works.
In December 2006 I decided to create a new character solely for the purpose of trading because it was thing that was almost completely skill independent. I started it off with 500k seed money from my "main", the mostly mining character. Despite being a relative noob I was able to quickly trade up to a billion ISK after my first month. Initially I traded in low end implants, then I moved onto reselling tech 2 drones, and finally I made the bulk reselling named tech 1 modules.
In my next month I turned that billion into 3 billion, mainly trading rigs and salvage materials as the patch had just come out. For the month after that I dabbled in tech 1 ship production, some ravens and drakes and other things, but decided the margins were too low to be worth it and sold off the BPOs. After that I invested some of my ISK into TinyDot and went on hiatus for a couple months due to moving in real life.
When I came back I got back into module trading right off the bat to try and build up some more cash. I came back to about 2 billion ISK of assets not counting shares. I had a number of modules that I hadn't sold off before going on hiatus that depreciated due to invention bringing down the price of the tech 2 variants. I traded back up to 3 billion in a few weeks but got tired of monitoring orders. I did the math on invention various modules and the numbers looked very good so I began investing in what I needed to do it.
I initially did my invention without a POS which was a complete pain and very slow. I invented Afterburner II's which weren't the highest return either. A few weeks of skilling up and doing small time invention I netted a couple hundred million profit, but this includes various expenses like many science skillbooks for 4 industry/science alts and some encryption methods skillbooks.
The corporation I'm in now was created to bring all my finances under one roof and in order to create a high sec POS. I currently have a large POS 3 jumps from Jita being utilized with both regular labs, advanced labs, and factories. I had to cut production for a couple weeks due to changing what I was producing and the resulting changes in skills needed.
My current net assets are roughly: Shares: 900 million POS: 1.2 billion Tech 2 Inventory: 1.2 billion Named Tech 1 Inventory: 400 million ISK: 170 million Ships: 300 million Materials in research/production: 400 million
Total valuation: 4.5 billion (very rough)
I also have 5 characters which I'm not sure how to value. Trade main with 6m SP, industrial alts with 8.5m SP, 6m SP, 14m SP, and 12m SP.
As I have finally gotten my operation up to speed (which has taken a few months of building up the required assets and skills) I project my profits for the next month exceed 7 billion. I have no idea what my profits will be with the release of Revelations 3 but I believe it will be extensive.
Also I have never owned a tech 2 BPO.
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Benvie
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Posted - 2007.10.05 22:53:00 -
[13]
Originally by: Kazuo Ishiguro If you're prepared to cover investments by handing over some of your own assets to a trusted third party, you can put me down for 200m or so.
My own total net worth isn't as extensive as the size of this IPO. Further, I could afford to put less than half of my net worth up as collateral because I am currently running a business that requires a good portion of it. If I had enough ISK to cover a significant portion of the amount I would simply do it privately rather than do a public offering.
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Shadarle
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Posted - 2007.10.06 01:20:00 -
[14]
Wow, 40 billion is quite a large IPO for someone that doesn't seem to be very well known.
I am not sure how successful it will be to speculate this time around as there are a lot of people talking about it lately. And there has been a lot of time for people to start buying things up. Speculation works best when the speculation itself drives prices really high and doesn't rely on demand increasing. When speculation occurs over a long enough time, the speculation doesn't effect the market much, so it takes a long time for the demand level to actually drive prices high enough to make the speculation worth it.
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Benvie
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Posted - 2007.10.06 01:25:00 -
[15]
Originally by: Shadarle Wow, 40 billion is quite a large IPO for someone that doesn't seem to be very well known.
I am not sure how successful it will be to speculate this time around as there are a lot of people talking about it lately. And there has been a lot of time for people to start buying things up. Speculation works best when the speculation itself drives prices really high and doesn't rely on demand increasing. When speculation occurs over a long enough time, the speculation doesn't effect the market much, so it takes a long time for the demand level to actually drive prices high enough to make the speculation worth it.
It's 30 billion. I still believe there is plenty of room for profit. Sure more profit could have been made if this had been done a month or two ago but there's very few people actually looking forward and buying things up. The fact is demand, even with current speculation, is nowhere near the level that it will be when the expansion comes out. At least, I believe that and anyone who is willing to invest in this should also believe it.
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Shadarle
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Posted - 2007.10.06 07:18:00 -
[16]
Originally by: Benvie
Originally by: Shadarle The speculation is that datacore prices will rise I believe and rise substantially in certain areas. At least that is the impression I've gotten from some inventors I've talked to. Which makes me think this is an extremely profitable venture.
Datacores are one of the things I plan to invest in.
However I did not invest in that venture.
Also, that post was in part to counter that some people thought datacore prices would drop in the future. They definitely shouldn't drop, but the question is just how much they will rise and how long it will take for it to happen.
The longer speculation goes on for, the smaller the returns. For example if you were to buy up 10 billion worth of stuff and sell it for 13 billion then you'd make a 30% profit. Very good if happened in less than a month.
If, however, from the time of investment it takes 3 months to sell off everything for 13 billion then you've made 10% per month. Not bad, but not nearly as impressive.
But yes, you could probably do quite well if you speculate wisely. I just think it won't be as good as past speculation has been because a LOT more people are doing it. And I happen to know a few people in particular who have already stockpiled massive amounts of a few items which I will not name, expecting them to rise due to Rev 3. I guess we'll have to wait and see how it goes, but I still think you're going to have issues raising so much money without a great rep. If you can then this market is due for a big scam in the near future.
Tanking Setups Compared
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Ricdic
Caldari Corporate Research And Production Pty Ltd Zzz
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Posted - 2007.10.06 07:27:00 -
[17]
Originally by: RD Manager
Prior to and during the investment period I will not disclose what items will be invested in so as to limit potential competition and prevent people from attempting to hurt the investment. However, on liquidation of the corporation I will publicly release a detailed list of purchases and sales so that anyone may confirm the legitimacy of the operation.
Good business idea. I have already been chatting with a couple of people in game and have some solid leads (imo) on changes as a direct relation to rev 3. If you get off the ground feel free to have a chat with me and I will sell you my ideas or at least a portion of the profits recieved from utilising the ideas.
I was thinking of doing something similar to you but am trying to gear down my public operations a bit and don't really have the capital to pull it off in a spectacular fashion.
Anyway, chances are a few of the things I have been looking at you already have in mind, so it will be good to have a chat in-game or via msn ([email protected]) if/when you shoot off the corporation.
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Ricdic
Caldari Corporate Research And Production Pty Ltd Zzz
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Posted - 2007.10.06 07:44:00 -
[18]
Just read the responses.
Just wondering, what do people think of the ability to partially secure IPO's and businesses such as this one with characters? I believe it is completely acceptable via the EULA as long as it is done via a character transfer.
Just a crazy idea after seeing the OP has a handful of half decent SP alts, one could sit with a trustee during the project and passed back upon completion. Obviously transfer fee's need to be considered but it would be easy enough for the OP to pay one way, and the trustee to pay the other way with the OP providing the trustee with X isk to cover said fee. (ie, trustee sells character back to OP for 250 million isk, which covers basically the cost of a transfer when comparing GTC/RL/ISK values).
What do the rest of you think?
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Dr Slurm
General Commodities
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Posted - 2007.10.06 07:48:00 -
[19]
Originally by: Ricdic Just read the responses.
Just wondering, what do people think of the ability to partially secure IPO's and businesses such as this one with characters? I believe it is completely acceptable via the EULA as long as it is done via a character transfer.
Just a crazy idea after seeing the OP has a handful of half decent SP alts, one could sit with a trustee during the project and passed back upon completion. Obviously transfer fee's need to be considered but it would be easy enough for the OP to pay one way, and the trustee to pay the other way with the OP providing the trustee with X isk to cover said fee. (ie, trustee sells character back to OP for 250 million isk, which covers basically the cost of a transfer when comparing GTC/RL/ISK values).
What do the rest of you think?
I considered putting this char up for hock when I was pondering an IPO recently. I just figured no one would go for it. <sig>
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Ricdic
Caldari Corporate Research And Production Pty Ltd Zzz
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Posted - 2007.10.06 13:39:00 -
[20]
Yeh it is a unique security but I don't believe anything in the EULA states that it is not allowed. Of course there is a real life fee involved in the transfer.
Surprised we haven't had more discussion on this in the last 4 hours tbh. Expected flames galore by the time I returned home from work.
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Montaire
Genbuku. Daisho Syndicate
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Posted - 2007.10.06 14:19:00 -
[21]
Originally by: Ricdic Yeh it is a unique security but I don't believe anything in the EULA states that it is not allowed. Of course there is a real life fee involved in the transfer.
Surprised we haven't had more discussion on this in the last 4 hours tbh. Expected flames galore by the time I returned home from work.
Its a great idea. You'd have to make sure it was a trusted party, because nothing could compel them to return the character. Also you'd want the character to continue training, so it would have to basicly sit on its own account unfortunatly.
Otherwise its a pretty good idea.
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Benvie
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Posted - 2007.10.06 16:29:00 -
[22]
Did your idea include allowing the owner to continue using the account? Just they didn't have control over it? It would be difficult to make it work if the account was being used as mine is. I wouldn't mine giving control over it to someone else but I wouldn't want to lose access to utilize it.
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Kazuo Ishiguro
House of Marbles Zzz
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Posted - 2007.10.06 16:54:00 -
[23]
No, you either have total, exclusive control over an account or none at all. Anything else is a breach of the EULA. My research services Spreadsheets: Top speed calculation - Halo Implant stats |
Argenton Sayvers
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Posted - 2007.10.12 15:09:00 -
[24]
Thanks for the answers, but i dont see this getting off the ground. Was there any discussion in the meantime with people who already hold public assets?
By the way, forget anything involving character transfers. Just buy GTCs with the cash if you have too much IRL.
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Shar Tegral
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Posted - 2007.10.13 05:29:00 -
[25]
I have a possible trust solution for you. Contact me in game to discuss it. This doesn't change the ipo itself from high-risk. It just changes the risk regarding you.
It's A GIRL!!!!! |
Benvie
Benvie Enterprises
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Posted - 2007.10.15 20:31:00 -
[26]
I had originally scrapped this idea as most of the items I was planning on investing in sharply rose in price literally the day I posted the prospectus. The feedback I got was what I expected and I would have gone forward with it at the time had those price changes not happened. Thanks once again everyone for the feedback.
Since then I have continued doing research and have identified a number of other items which I believe will see similar rises in prices and have so far been untouched by speculation. The total ISK which can be invested is not quite as high, therefore I have decreased the size of the offering. I believe this will also help to increase peoples' trust and assure that the entirety of the IPO sells.
I have made the following revisions to the prospectus:
Section 4 - Added oversight. Section 6 - Limitations on salary added. Added coverage for a loss. Section 7 - Halved the value of shares and thus the total value of the offering.
These changes address concerns people had as well as deficiencies I believed the plan had. I hope to be in contact with a few individuals over the next couple days to set up the security and identify the oversight committee (whether it be 1 or 2 people).
I encourage further comments so I can hammer this out and get it underway as soon as possible.
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Benvie
Benvie Enterprises
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Posted - 2007.10.15 21:17:00 -
[27]
An idea that has been floated by Shar Tegral is that of having him in control of all assets. In that case I would be directing the purchase and sale of items, but would have no direct access to any of therefor the burden of trust would be on Shar Tegral. You would still need to trust me to make the right purchasing and sale decisions though.
Compensation for his services is still up for discussion, something to the effect of a cut of the administrative fee or access to purchase lower cost shares. With that said, does anyone have any input on the idea and how it would affect their potential investment in this operation?
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Shar Tegral
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Posted - 2007.10.15 21:19:00 -
[28]
Originally by: Benvie An idea that has been floated by Shar Tegral is that of having him in control of all assets. In that case I would be directing the purchase and sale of items, but would have no direct access to any of therefor the burden of trust would be on Shar Tegral. You would still need to trust me to make the right purchasing and sale decisions though.
Confirming this is the idea that is on the table. Originally by: Benvie Compensation for his services is still up for discussion, something to the effect of a cut of the administrative fee or access to purchase lower cost shares. With that said, does anyone have any input on the idea and how it would affect their potential investment in this operation?
I'm curious what people will think up myself.
It's A GIRL!!!!! |
Fitz VonHeise
The New Order. United Connection's
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Posted - 2007.10.15 22:40:00 -
[29]
I'm game for a couple mil under these terms.
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Shar Tegral
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Posted - 2007.10.16 07:34:00 -
[30]
Originally by: Fitz VonHeise I'm game for a couple mil under these terms.
Thank you but only one part has been specified. I'm sure you'd be happier if we hammered out what is supposedly my "pay" on this. Or does everyone think I'm going to do this from the bottom my heart? (PS: That is where all the muck and trash winds up!)
It's A GIRL!!!!! |
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