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Ray McCormack
hirr
    |
Posted - 2008.05.04 07:33:00 -
[1]
Why am I still doing this?
Dividends Graph
April 0.00
0.00 per share. 0.00% of New NAV.
Dividends were withheld this month to accommodate the NAV loss.
Re-investment
1,167,350,000.00
583,675.00 per share. 0.78% of New NAV
Additional Capital Gain
-3,136,696,000.00
-1,568,348.00 per share. -2.10% of New NAV.
See share prices below.
Loan Interest
1,167,350,000.00
Admin Fee
0.00
The Admin Fee was withheld this month.
Broker Fee
0.00
The Broker Fee was withheld this month.
Expenses
None.
Share Purchases
13,511,700,000.00
This was the outstanding 135,117 BSAMR shares not listed last month.
Share Sales
0.00
Dividends Received
0.00
Shares
59,779,853,500.00
25,363 AATP @ 12,000.00
2,119,513 FIN @ 7,500.00
12,159 FIN-U @ 950,000.00
253,204 BSAMR @ 100,000.00
17,077 BSAMT @ 100,000.00
5,000 PCT @ 1,000,000.00
FIN has been revalued at 7,500 per share. FIN-U has been revalued at 950,000 per share. We will begin writing these off at a rate of 10% per month until they're either off the balance sheet or liquidated.
Share NAV Difference
-3,136,696,000.00
BSAMR and BSAMT shored the loss up a bit, total loss was in fact 4.42b.
Default Gain
0.00
Sales Profit
0.00
Previous Month's End NAV Graph
151,063,028,459.71
April End NAV
149,093,682,459.71
The Baun Clause Graph
74,546,841.23
Buyback Price
67,092,157.11
Please see below.
Treasury Shares
0
Outstanding Shares
2000
Start of Month Loan Amount
14,845,000,000.00
End of Month Loan Amount
5,296,000,000.00
Average Loan Amount Graph
5,344,387,096.77
Bonds
None.
Defaults
None.
Loans
1 New
1 Closed
2 Refinanced
0 Defaulted
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Ray McCormack
hirr
|
Posted - 2008.05.04 07:34:00 -
[2]
Dividend History Per Share Graph
Feb-060.00
Mar-060.00
Apr-06567,705.06
May-062,120,000.00
Jun-061,660,000.00
Jul-061,036,000.00
Aug-06651,000.00
Sep-060.00
Oct-0610,000.00
Nov-0655,000.00
Dec-061,240,640.00
Jan-071,769,120.00
Feb-071,456,554.30
Mar-071,559,647.00
Apr-071,389,126.10
May-071,320,677.50
Jun-071,708,296.60
Jul-071,560,093.04
Aug-071,389,577.68
Sep-071,925,233.60
Oct-071,875,814.72
Nov-071,608,953.36
Dec-071,226,948.72
Jan-081,494,801.41
Feb-081,655,349.56
Mar-08890,043.14
Apr-080.00
Total30,170,581.79
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Ray McCormack
hirr
|
Posted - 2008.05.04 07:35:00 -
[3]
Treasury Shares
Please have a look at Wikipedia's explanation of Treasury Shares. Everything listed in there pertains here, apart from the legal market capitalisation amount (as there is none).
The BMBE will buy back shares at a value of 90% of recorded NAV.
The BMBE will liquidate assets to accommodate buyback requests.
The BMBE will utilise any idle ISK to buy back shares.
If there is no idle ISK, your shares will not be bought back.
Loan requests will be honoured before buyback requests.
Current buyback price is : 67,092,157.10
Please contact Ray McCormack to arrange buy backs. Do not send any shares until told to.
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Mr Horizontal
Gallente
KIA Corp
KIA Alliance
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Posted - 2008.05.04 11:27:00 -
[4]
So am I right with this tl,dr:
TornSoul asked you to resign from BMBE, and now can't be bothered to run it properly so is now forcing you to close it down having left it wavering for a month with 0 income.
Ray, be honest here. What do YOU want to do? Do you want to run BMBE still, even without the 'BIG' misnomer, or do you want to get out? I don't care what TornSoul's ideas for BMBE are, I'm only interested in what you think. |
Ray McCormack
hirr
|
Posted - 2008.05.04 13:32:00 -
[5]
 Originally by: Mr Horizontal
So am I right with this tl,dr:
TornSoul asked you to resign from BMBE, and now can't be bothered to run it properly so is now forcing you to close it down having left it wavering for a month with 0 income.
Ray, be honest here. What do YOU want to do? Do you want to run BMBE still, even without the 'BIG' misnomer, or do you want to get out? I don't care what TornSoul's ideas for BMBE are, I'm only interested in what you think.
I resigned of my own accord, I was not asked to. TornSoul was/is investigating the possibility of someone else running the BMBE. No one is forcing me to close it, and I am not closing it. There wasn't zero income this month.
I no longer want to run the BMBE, that's why I resigned. I have other plans to focus on. My sense of duty to shareholders left me no other choice than to introduce a buyback option and allow them to decide for themselves.
It is not my place to force a liquidation of the BMBE. I will, however, not shy away from asking shareholders through a vote. But we have not reached that stage yet. Consider this a polite nudge. The BMBE is a good corporation, it provides a valuable service, and there are changes in the pipeline that could make it even better. I would like to see it continue.
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herot
Fortunis - Redux
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Posted - 2008.05.04 19:19:00 -
[6]
Originally by: Ray McCormack
Why am I still doing this?
Don't know..., but it's appriciated. 
And for what it's worth I would very much prefer if the company could could be kept running in some form instead of a closure. So i'll keep my fingers crossed that Tornsoul manage to get hold of a new admin, after all he got hold of you once. 
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TornSoul
BIG
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Posted - 2008.05.05 00:09:00 -
[7]
Meh - Thanks for doing the report again Ray.
I thought I had new admins onboard.
Then RL happened to a key person.
Then RL happened to me, making me miss things wherent going along smoothly as I thought.
Sprinkle a bit of bad luck on top of various other things as well...
And this is where we're at atm.
Not a good month...
It's embarresing in fact...
But lets see if we can't get things into working order again.
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herot
Fortunis - Redux
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Posted - 2008.06.05 21:13:00 -
[8]
Are there any news? 
PS! I only want to hear them if they are good...
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Ray McCormack
hirr
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Posted - 2008.06.06 10:55:00 -
[9]
The report is only due this weekend. But it's a doozi, full of allegations and revelations. A veritable drama-bomb. Stay tuned.
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Jaeger Orlofsson
VentureCorp
Imperial Republic Of the North
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Posted - 2008.06.06 12:00:00 -
[10]
zomg! moar dramas pls!!1
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