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(#28 - 2008.05) BMBE Shareholder Report

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Author	Topic
Sharlath	Posted - 2008.06.09 15:06:00 - [1] I guess it's my turn to do this. Dividends Graph May 1 169 446 331,36 584 723,17 per share. 0,96% of New NAV. Re-investment 584 723 165,68 292 361,58 per share. 36 844 559,90% of New NAV Additional Capital Gain -787 813 000,00 -393 906,50 per share. -49 641 650,91% of New NAV. Loan Interest 1 505 000 000,00 Admin Fee 584 723 165,68 Broker Fee 584 723 165,68 Expenses None. Share Purchases 7 590 000 000,00 Share Sales 0,00 Dividends Received 1 418 615 828,40 Shares 66 632 040 500,00 25 363 AATP @ 12 000,00 2 119 513 FIN @ 6 500,00 12 159 FIN-U @ 950 000,00 341 341 BSAMR @ 100 000,00 18 657 BSAMT @ 100 000,00 5 000 PCT @ 1 000 000,00 Share NAV Difference -787 813 000,00 Default Gain 0,00 Sales Profit 0,00 Previous Month's End NAV Graph 149 143 682 459,71 May Buyback (Shares) 413 May Buyback (ISK) 27 718 353 385,14 May End NAV 121 222 239 240,25 May End Shares Outstanding 1 587 The Baun Clause Graph 76 384 523,78 Buyback Price 68 746 071,40 Start of Month Loan Amount 5 296 000 000,00 End of Month Loan Amount 5 000 000 000,00 Average Loan Amount Graph 15 117 096 774,19 Bonds None. Defaults None. Loans 3 New 4 Closed 0 Refinanced 0 Defaulted
Sharlath	Posted - 2008.06.09 15:07:00 - [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 May-08736 891,20 Total30 907 472,98
Sharlath	Posted - 2008.06.09 15:11:00 - [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 : 68,746,071.40 Please contact Sharlath to arrange buy backs. Do not send any shares until told to.
northwesten Trinity Corporate Services	Posted - 2008.06.09 15:14:00 - [4] oh dear! is there a simpler template for monthly reports? nothing wrong with yours I guess but just a friendly question for a noob ipo runner. Trinity Corporate Services
Ray McCormack hirr	Posted - 2008.06.09 16:04:00 - [5] The following has been transferred to Sharlath : 25,363 AATP 2,119,513 FIN 12,159 FIN-U 341,341 BSAMR 18,657 BSAMT 5,000 PCT 40,000,000,000.00 ISK 413 BMBE are in the BMBE corporation wallet and will be confirmed once the handover is done in-game. 9,590,198,740.00 to follow once a RESX withdrawal completes. [WTS] Shares \| Secured ISK Loans
Sharlath BIG	Posted - 2008.06.09 16:17:00 - [6] Originally by: Ray McCormack 25,363 AATP 2,119,513 FIN 12,159 FIN-U 341,341 BSAMR 18,657 BSAMT 5,000 PCT 40,000,000,000.00 ISK I can confirm that I recieved these. There will be an announcement about some changes forthcoming.
herot Fortunis - Redux	Posted - 2008.06.11 17:48:00 - [7] Thanks for the report Sharlath! And I guess a congratulation to your new post as manager for BMBE is in order. Since I'm away a business trip and can't log into the game and check for myself I also have a quick question: It's my understanding that the tresuary shares shouldn't recive dividends. Is this taken into consideration when making the dividens pay out? i.e. are extra dividend added to the pay out to compensate for the capital being returned to the corp wallet through the treasury shares. (should currently have been: dividend*2000/1587?)
herot Fortunis - Redux	Posted - 2008.06.13 19:28:00 - [8] I noticed that the dividend hasn't yet been paid out for may. Any idea when this will happen?
Ghost Emperor EvE Mutual Fund Inc.	Posted - 2008.06.15 22:09:00 - [9] Congratulations...at last some good news for the stock market...and a healthy NAV for sure, will have to update EMFI portfolio upwards for a change :) GL with plans for EMFI EvE Galactic Stock Exchange and Real-time Eve Stock Exchange EMFI blog at: http://emfi.blogspot.com/
killerco The Flying Dutchmen Hydra Alliance	Posted - 2008.06.16 18:13:00 - [10] Don't wanna push anything but it seems the may dividend still hasn't been paid

herot Fortunis - Redux	Posted - 2008.06.20 22:57:00 - [11] Edited by: herot on 20/06/2008 22:57:41 Any news on when the dividend for May will be payed out? PS! And I still think that the dividen per share should be 736 891 isk/share since only 1587 shares are elegible for dividends this month. DS!
Hexxx	Posted - 2008.06.21 16:48:00 - [12] Would love an update... Director \| www.eve-bank.net
herot Fortunis - Redux	Posted - 2008.06.28 14:20:00 - [13] We're approching the end of June and still haven't seen any dividend payment for May. In light of this, it would be nice if we could get some update about how the handover is going, or if there have been further changes regarding the future of BMBE?
herot Fortunis - Redux	Posted - 2008.07.04 20:55:00 - [14]
oxymoronica	Posted - 2008.07.04 21:21:00 - [15] I bet they decided to pocket the ISK they got now and skipped town......
Hexxx Minmatar	Posted - 2008.07.05 17:27:00 - [16] I'd like an information update on this so we know what the status currently is. Director \| www.eve-bank.net
Ricdic's Hoe	Posted - 2008.07.05 18:20:00 - [17] Just like the old days
Xelios Xarxes	Posted - 2008.07.06 01:38:00 - [18] Go go Cally #342
killerco Gallente Federal Defence Union	Posted - 2008.07.06 10:48:00 - [19] any updates?
Treelox Amarr Market Jihadist Revolutionary Party	Posted - 2008.07.06 21:20:00 - [20] im not sure why this surprises anyone. It just like it was before Ray took over. Late dividends, no communication, and yet the BIG lottery happens regularly. Really it is exactly like it was before Ray was the manager. It is this apathy of the CEO alone that has always kept me from bothering to invest in this. I know that Torn has a big reputation, but in this case he really lives it down. --

F FLETCH	Posted - 2008.07.10 06:45:00 - [21] I mailed Sharlath over a month ago to get a buy back on my shares. I have heard nothing yet. Honestly if this is the way we are going to be treated again you should just disolve the whole BMBE and be done with it. FF
herot Fortunis - Redux	Posted - 2008.07.13 21:54:00 - [22] Still no news!
MaVla Minmatar	Posted - 2008.07.16 07:43:00 - [23] Can whoever is 'running' this now stop being so ignorant and actually respond please. Torn, your reputation has already taken a beating over this whole BMBE situation, your making it worse but not responding. As CEO of the corp in question I hold you personally responsible for sorting this situation out. You could at least acknowledge that something is happening in the background. MaVla
shambley BIG Libertas Fidelitas	Posted - 2008.07.16 11:51:00 - [24] Sorry Guys, I have no direct affiliation with the BMBE but as a memeber of BIG I will try to get this resolved ASAP. I have just noticed the lack of action and information in the thread when browsing the forums I will be poking people hourly until this is resolved. I am trying to contact those concerned to get the information flow sorted. [update] I have phoned Sharlath and he is on a pre-arranged vacation in Japan, Tornsoul will be paying out shares and i'm sure he will respond as soon as I get hold of him. If thier are any other issues besides the dividend pay outs then let me know - eve-mail or convo, I am logged in daily. P.S. Nice to see ya Herot, Long time since we were corpies in fortunis what is it 3-4 years now Again aplogies on behalf of the guys running the BMBE BIG LOTTERY BIG DEAL BIG RECRUITMENT
RaTTuS BIG Libertas Fidelitas	Posted - 2008.07.16 12:51:00 - [25] good find sham - yeah sharlath is afc in Japan ATM ;-( Tornsoul should be taking care of it [but we all know what that is like] /me stays out of BMBE affairs as I have more than enough to do -- BIG Lottery, BIG Deal, InEve, USERPROFILE
proteas	Posted - 2008.07.17 16:38:00 - [26] Hi Guys, There has been some restructuring of the BMBE, all funds etc have been transfered back to TS and he will be dealing with dividends and loans from now on. We have been hit with a large dose of RL, and this has unfortunately affected the Bank . Apologies for the delay in reports - normal service will resume shortly. P.
Banni Vinda Minmatar Kinda'Shujaa	Posted - 2008.07.17 16:52:00 - [27] Originally by: proteas all funds etc have been transfered back to TS ... normal service will resume shortly This is what worries me. 'Normal service' under TS wasn't too great
TornSoul BIG Libertas Fidelitas	Posted - 2008.07.17 19:38:00 - [28] RL has been hitting me over the head in all kinds of annoying ways for the past month+. Currently recovering from a (thankfully mild) summer flu. As someone mentioned the BIG Lottery - I did the drawing while feeling pretty miserable this monday... Before the flu it was work, and before that .. etc. As I said, the last month+ hasnt excactly been very EVE friendly to me. Don't take this as an attempt of an "excuse" or similar - But simply as stating fact - Nothing more nothing less. ---- Now... The BMBE... I did it solo at first for a long time (little less than a year or so). Then Ray started to take an interest and started giving a hand (at the time unknown to the public) This gradually let to me "slipping", and the "general public" getting pretty fed up with me with regards to the BMBE, because of this (fair enough btw), and eventually Ray took over the handling of BMBE completly. And basically the general consensus became that it was best if I stayed away from doing BMBE stuff (I've still been answering mails and convo's, which the "public" never sees, but aside from that...) Especially as Ray was doing such a stellar job. The "general public" was happy Ray was happy. I was happy. Then Ray decided to move on... (after a year+ or so mind you) Seeing as most, myself included (because of everyone else mainly) would probably prefer I didn't step back in to manage BMBE, I've been trying to accomplish excactly that. Thought a couple of times I had managed but alas... So... I'm currently faced with tryign to pick up where Ray left of. Keep in mind I've had nothing, and I mean absolutly nothing, to do with the practical side of BMBE in over a year. So getting "back in shape" with BMBE involves a rather large initial investment of time. It might look deceptively simple on the outside, but theres actually alot of ground to cover to get up to speed again (everything's relative ofc - So don't start an argument over that). As "luck" (not!) would have it, this has co-incided with my forementioned "run-in" with RL as of late. Hence the "no news/no action" result you have witnessed sofar. Is this acceptable in any way? No it's not. It's higly unsatisfactory in every way imaginable - I won't even try and paint it any other way. It just "is"... Shit happens, and this definatly is high in it atm. I will make one promise here though: *Things will* get sorted. It might be (is!) later than everyone wishes for, but BMBE is not a new scam (someone suggested we'd run of with the ISK... pfft), it's simply "a business not operating as it should at the time being". It'll get rectified, as soon as I've had the RL surplus to get through the initial investment of time to get things up and running again. It's sadly that simple... Which just makes it even more "painfull" (outright damn annoying) to everyone (myself included) that it hasnt happened yet. I would like to tell you that it'll happen this weekend, I got my mind set to that, but I've had that for the last many weekends, and each and every time RL have stuck it's tongue out at me and as a consequence all of you. I'm sorry I can't give you better news than that (ie. it'll get fixed within this or that timeframe), but I'm simply too "gunshy" from my last couple of months (RL) experiences to dare make any such promise - Which if not keept would simply make everyone even more furious. And you are right to be furious, I'm not trying to downplay it. Simply putting the fact's of the story there for you. /puts on asbestos suit /crosses fingers for a "good" weekend BIG Lottery**
EBANK Ricdic Eve-Tech Savings n Loans	Posted - 2008.07.17 20:56:00 - [29] I say shut her down. Liquidate BMBE whilst it still has been left with a good parting smell (when Ray was running it) rather than letting it fall back into disrepair. If you need someone to buy out your debt so a full closure can be actioned pop me a mail and we can see if we can help Cheers
Ray McCormack hirr	Posted - 2008.07.17 21:07:00 - [30] Are you calling me a rosy fart? [WTS] Tech II Component BPO Sets

EBANK Ricdic Eve-Tech Savings n Loans	Posted - 2008.07.18 03:40:00 - [31] Originally by: Ray McCormack Are you calling me a rosy fart? Your welcome
MaVla Minmatar	Posted - 2008.07.18 10:08:00 - [32] Edited by: MaVla on 18/07/2008 10:08:53 As a shareholder I would like to see it closed, it has gone on long enough without the required support it needs and with all due respect Torn the lottery is your baby and always will be. There will always be a RL reason thats going to get in the way, you know it and so do all your shareholders. Anyone thinking things will change is kidding themselves. Offer a reasonable buy back and I'm sure the majority of your investors will be biting your arm off to take it. MaVla
Jaeger Orlofsson VentureCorp Imperial Republic Of the North	Posted - 2008.07.18 11:41:00 - [33] I have to say the extortionate 10% tax/fee is apallingly high considering the reason for the buyback offer and recent performance.
Ray McCormack hirr	Posted - 2008.07.18 12:32:00 - [34] Having implemented the Treasury Shares procedure I feel it my responsibility to answer for it. It is not a buyback or shut-down mechanism. It is intended to assist with the liquidation of a shareholder's investment should the bank be in a relatively liquid position, and force the bank into a liquid position should it not be performing up to standard. There are a variety of other reasons for Treasury Stock. It is also not a perpetual offer and may be rescinded with notice. The reason the 10% reduction is in place is to avoid the somewhat nasty potential situation for the BMBE to overspend on shares due to an unrecoverable default or third-party shares loosing value (as FIN and FIN-U were at the time of introduction). It is most certainly not in place to extort shareholders out of their ISK. [WTS] Tech II Component BPO Sets
Jaeger Orlofsson VentureCorp Imperial Republic Of the North	Posted - 2008.07.18 14:10:00 - [35] Ray, sorry but could you explain it further, I'm afraid I dont understand the Treasury Share information on the wikipedia page or how it applies to this situation - can you break it down into tl;dr format? If for example I went for the buyback does that mean I can have the 10% later? If not who does that go to?
Ray McCormack hirr	Posted - 2008.07.18 15:04:00 - [36] The 10% goes back into the BMBE and increases NAV for the remaining shareholders. Should all shares be bought back this way then the BMBE will be left with no shareholders and a NAV of 10% of current NAV. But as stated this offer is not a buyback or shut-down mechanism. And the 10% reduction is to avoid anyone cashing out before an unrecoverable default or fall in NAV leaving the remaining shareholders with an even bigger loss. For those of you unsure as to the probability of closure, let me settle your uncertainty. The BMBE will not shut down, it will continue to run under TornSoul and in the future perhaps a variety of other individuals, it's just the degree of success that may vary. [WTS] Tech II Component BPO Sets
Ricdics Corporate Placement Holding	Posted - 2008.07.18 15:09:00 - [37] Originally by: Ray McCormack The BMBE will not shut down, it will continue to run under TornSoul and in the future perhaps a variety of other individuals, it's just the degree of success that may vary. Ugh, that's terrible news. TS may be good with the lottery but his historical performance with BMBE, as well as the delegate chosen to run it in the first post are a clear sign of where BMBE is heading. People selling BMBE shares at 50% of cost, no communication, crap dividends etc. Not sure why a vote wasn't initiated when you left Ray offering shareholders the option to close shop and get their isk back rather than forcing them back into this situation they were all stuck in just over a year ago.
Mr Horizontal Gallente KIA Corp KIA Alliance	Posted - 2008.07.18 15:17:00 - [38] Put simply Treasury Stock in EVE would be shares that have been bought back and sitting in BMBE's wallet, effectively unissued shares. I'm at work so not in game and don't have reference to BMBE's IPO documentation either, so am doing this from memory. Say BMBE issued 2000 shares at 50m each to create a marcap of 100b. This is by all intents and purposes now a debt to BMBE. It then leverages 80% of this ISK, thus creating a nice income stream. The remaining 20% is it's liquid reserves. Now things are good, and that 85% leveraged capital is producing enough revenue to pay the debt via dividends to shareholders. This is what you experienced when BMBE was in full flight under Ray's helmsmanship. The treasury stock system was then introduced, because in light of the secondary market and stiff competition from competitors, BMBE could potentially have a tough time earning money from loans, and was looking at its risk exposure in light of the changing landscape and this mechanism is as a result a safety net. What it does is when BMBE has 100b, and say BMBE is earning 12.5b income and suddenly 30% of it's leveraged loan falls off it's books, because a debtor pays it all back and moves away, then suddenly, BMBE's income drops proportially as well. As such, in order to remain healthy, BMBE can choose to buy back its shares at 90% NAV, which devalues the whole corporation, but at the same time, readjusts the percentages back into normal operating positions. tl;dr, Treasury Shares allow BMBE to shrink itself proportionally to any event threatening liquidity that has happened so it can ensure operation in its comfort zones, and be able to react rather than sitting on a pile of unleveraged (and not-earning) ISK, with a huge price tag on it. Director \| www.eve-bank.net
Mehixa	Posted - 2008.07.18 15:19:00 - [39] Originally by: Ray McCormack Having implemented the Treasury Shares procedure I feel it my responsibility to answer for it. It is not a buyback or shut-down mechanism. It is intended to assist with the liquidation of a shareholder's investment should the bank be in a relatively liquid position, and force the bank into a liquid position should it not be performing up to standard. There are a variety of other reasons for Treasury Stock. It is also not a perpetual offer and may be rescinded with notice. The reason the 10% reduction is in place is to avoid the somewhat nasty potential situation for the BMBE to overspend on shares due to an unrecoverable default or third-party shares loosing value (as FIN and FIN-U were at the time of introduction). It is most certainly not in place to extort shareholders out of their ISK. Ray, I'm not sure how this forces BMBE into a liquid position since, by it's definintion, BMBE is expending cash in order to reaquire stock (now termed treasurey stock, as it moves to being owned by the entity whom issued it). Further complicating this is that if BMBE puts itself in an illiquid position, it handicaps it's own ability to provide loans; the primary method by which it generates revenue. Now, I could see how this would prompt BMBE to attempt to liquidate it's non-cash assets (and perhaps that's what you mean here), but if the majority of these assets are shares in other IPO's, BMBE will need to "quickly" find a price to which a buyer will agree. If it does liquidate these non-cash assets, it further places emphasis and reliance on loans as the primary source of revenue. If loans dry up or demand isn't there...it presents a risk for future revenue and weakens BMBE's position relative to it's competition. To investors in BMBE, I believe (Ray is free to correct me, I might have this wrong) that by offering a 90% buy-back, BMBE is trying to hedge the risk of cutting too deep into their liquidity. It's more of a sa*uard or risk mitigator. Obviously it was designed to be a disincentive and perhaps it's safer that way for the good of BMBE. Ok, here comes the part where I throw in my two-cents.** I think BMBE should probably liquidate. Let me explain. I don't think that Torn Soul has the time to continually manage BMBE, and finding another manager like Ray to take over the reigns would be extremely challenging. In terms of the BIG portfolio of brands, I would ask TS to consider the value of continuely running BMBE and the risk to the BIG brand itself if BMBE continues to limp along with anemic returns or (worse) is percieved to have collapsed. It may make sense in the grand scheme of things to consolidate the BIG portfolio by closing the BMBE venture.
Ray McCormack hirr	Posted - 2008.07.18 16:09:00 - [40] All valid points really, but I can assure you now you're just ****ing in the wind by asking for a shut-down. May god grant you the wisdom to accept what you cannot change. Mehixa, you answered your own question be referencing third-party shares owned by the BMBE. You're just off the mark when it comes to the timespan concerning these matters. It's not a race, the BMBE is in it for the long run, and will probably only close when CCP shuts TQ down. Ric, I honestly contemplated a vote. But it's not my decision to make, nor, according to the IPO documentation, is it the shareholder's. And while I could argue the above points for the introduction of the Treasury Shares, there is one single overwhelming reason for them. I considered it a parting gift to shareholders and a swift kick up the proverbial for TS, warning him he can't just sit back idly on a pile of ISK anymore. [WTS] Tech II Component BPO Sets

Mr Horizontal Gallente KIA Corp KIA Alliance	Posted - 2008.07.18 18:12:00 - [41] My opinion is structurally BMBE is 100% fine, but it requires a helm. I did sell out the minute Ray announced he was stepping down, but I'd really, really like BMBE to be on it's feet again. With FIN and Ionia gone, there are just too few 'blue chip' stocks left. Director \| www.eve-bank.net
killerco Gallente Federal Defence Union	Posted - 2008.07.19 07:24:00 - [42] Originally by: TornSoul RL has been hitting me over the head in all kinds of annoying ways for the past month+. Thanks for this update TornSoul gl with your RL
herot Fortunis - Redux	Posted - 2008.07.22 22:45:00 - [43] Originally by: shambley P.S. Nice to see ya Herot, Long time since we were corpies in fortunis what is it 3-4 years now Hi, Sham! Yes, time flies doesn't it? It doesn't really feel that long ago, but when I look at my employment history I have to conlude that your right. Anyways, thanks alot for helping to set things in motion again for BMBE.

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