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(#29 - 2008.07) BMBE Shareholder Report

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TornSoul BIG Libertas Fidelitas	Posted - 2008.08.04 04:42:00 - [1] www.BIG-EVE.com/BMBE Foreword New BMBE Manager Loan&interest changes State of BMBE May dividend Buyback stopped BMBE numbers Afterword Foreword As avid readers of the market discussion forums will know, the BMBE has been in a bit of a void for the past couple of months. I'll be the first to admit that this state of affairs is less than satisfying (to say the least). I've already covered the reasons for this in the (#28 - 2008.05) BMBE Shareholder Report so I'm not going to repeat that wall of text here again - But use the link if interested. Suffice to say that starting with this Shareholder Report, I hope to get BMBE back on track again. New BMBE Manager Part of getting BMBE back on track is to actually have a person in charge af the BMBE, which we basically haven't had since Ray retired, hence the void the BMBE has been in. Not by choice, but by necessity, that person is once more myself (TornSoul). A almost succeded in persuaiding a couple of other persons to take up this responsability, and in fact thought I had succeded, but alas, for various reasons it didn't pan out. After Ray's (year long) very succesfull reign of the BMBE, I have some rather BIG shoes to fill. And to set things straight from the start : I very much doubt I can fill those shoes. (so don't even start...) I will do what I can, but I'm not Ray, and I will most likely also do things a bit differently as well. BIG Lottery
TornSoul BIG Libertas Fidelitas	Posted - 2008.08.04 04:42:00 - [2] www.BIG-EVE.com/BMBE Foreword New BMBE Manager Loan&interest changes State of BMBE May dividend Buyback stopped BMBE numbers Afterword Foreword As avid readers of the market discussion forums will know, the BMBE has been in a bit of a void for the past couple of months. I'll be the first to admit that this state of affairs is less than satisfying (to say the least). I've already covered the reasons for this in the (#28 - 2008.05) BMBE Shareholder Report so I'm not going to repeat that wall of text here again - But use the link if interested. Suffice to say that starting with this Shareholder Report, I hope to get BMBE back on track again. New BMBE Manager Part of getting BMBE back on track is to actually have a person in charge af the BMBE, which we basically haven't had since Ray retired, hence the void the BMBE has been in. Not by choice, but by necessity, that person is once more myself (TornSoul). A almost succeded in persuaiding a couple of other persons to take up this responsability, and in fact thought I had succeded, but alas, for various reasons it didn't pan out. After Ray's (year long) very succesfull reign of the BMBE, I have some rather BIG shoes to fill. And to set things straight from the start : I very much doubt I can fill those shoes. (so don't even start...) I will do what I can, but I'm not Ray, and I will most likely also do things a bit differently as well. BIG Lottery
TornSoul BIG Libertas Fidelitas	Posted - 2008.08.04 04:43:00 - [3] Loan&interest changes The first thing I'll do a bit differently is to completely revamp the loan/interest structure of the BMBE Effective immediately: All current loan types (RIFL/RISP/RIST) have been removed, and is replaced with just one standard loan type. Interest rate is fixed at 2% weekly (to be paid _in advance_) Collateral is fixed at 100% of the loan amount. The reasons for the above changes are among others: The (now) past loan types tended to confuse people and of the 3 loan types rarely any but the RISP type was used anyhow. So while the original idea of providing different kind of loan types in order to service loan takers the best, depending on their circumstances, was good, it has mostly turned out to muddle the picture instead. The same goes for the variable interest rate we had introduced. Originally intended as a tool to maximize BMBE's profit potential, as at the time there really wasn't much competition in the banking area, this time is past. It's a sad fact that the attention span of most in EVE, even of those looking for a loan, is extremely low. I can't count the number of times I've been approached about a loan, without people even having bothered to check out the BMBE website... Or if they had, they'd simply gone tl;dr after the first few lines.... So to curb that somewhat, the loan structure have to be as simple as possible. And as experience have shown, the multiple loan types we had on offer wasnt used much anyhow, so one loan type should be just fine. One thing is to fix the interest rate (for the above reasons), another is to lower it (to 2%). Theres one very simple reason for this : Competition. The 2% may or may not be changed in the future, but for now, I believe it to be the cheapest loan rate around, and I hope it will contribute to bringing in some business again. The idea beeing to make ISK "on volume, rather than a few expensive items(loans)" The collateral size have been changed for much the same reasons (used to be 120% of loan value) - With the added twist of interest now having to be paid in advance (so we are assured at least one payment, even on a default) I've had to explain the old 120% collateral rule so many times to potential loan takers, it's not even funny. Hopefully it will be more intuitive with the new 100% collateral rule - and again, I believe it will be more competitive as well. Overall I hope the changes will contribute to make the loan system (one type of loan) of the BMBE easier to understand for potential loan takers (who then won't get confused and simply walk away) and that the reduced interest rate will make potential loan takers consider BMBE over the competition. BIG Lottery
TornSoul BIG Libertas Fidelitas	Posted - 2008.08.04 04:43:00 - [4] State of BMBE Changes are all well and good, but doesnt tell much about the current state of the BMBE. The hard truth is that the current state of the BMBE leaves much to be desired. Both management and economics wise (and you don't get much economy without some management...) The management should now (finally) be in place - And I hope I will be able to kick BMBE into motion again. The economics... Well... Currently we haven't got a single loan. Not one... I hope that the above listed initiative will turn this around again - But I'm sure it won't come overnight. It takes awhile for the word to spread (2% interest etc) I expect 2-3 months before we will truly see (and be able to judge) the effect of the changes. The only income currently comes from the shares (dividend) bought by Ray. The ISK made on shares (dividend) is only just above pocket change, and it's simply not enough. It's of course better than nothing, but... We currently have ~66B ISK tied up in shares, and last months dividend payout was ~1.2B ISK. Not excactly stellar return (But better than then ISK just laying idle of course) The whole "side business" of trading in shares (buying/selling for profit) to make an income was Ray's invention and not something I will (or can) continue. It's never something I've dabbled in in earnest, so I simply don't have the knowledge and insight that Ray possesses, and which is required in order to "gamble" the shareholders ISK this way. So I'm left with figuring out what to do with the shares that BMBE currently owns. Some of them are paying dividends, and some are not. I'm aware that a buyback on FIN-U shares are underway - And it's on my list of things to get done. BMBE has about 12B worth of those... I'm mostly inclined to get rid of all the shares (as it's not my field of expertice), but it would seem that might not be so easy for all of them... Consider this an open call for some advice on what to do with the share portfolie that the BMBE owns (keeping BMBE's best interests in mind - aka the shareholders) In an ideal world, the above mentioned changes to the BMBE would mean that we would shortly be in need of a lot of ISK in order to provide loans - and liquidating all shares would give us more ISK, which should make more ISK than the shares currently do. Again - I'm totally open for ideas and suggestions here. May dividend The may dividend reported in (#28 - 2008.05) BMBE Shareholder Report by Sharlath has never been paid out. And as pointed out by herot in the same thread, the listed dividend was in error, as it didnt take into account that BMBE had bought back shares from the market. Now, I would personally prefer that we don't pay out the May dividend. I'm suggesting this purely for the reason of easier bookkeeping for me in this transition phase. Please note that shareholders are not "losing ISK" due to this, as all the ISK, including admin fee, goes to increase BMBE NAV instead. I'm however going to have this put to a shareholder vote - due to the fact that the May shareholder report states that the May dividend was intended to be paid out. As you will see below, July dividends won't be paid out either (not that there's alot to pay out). Again, the reason beeing for easier book-keeping in this transition phase. August would then return to normal again. Buyback stopped Effective immediately no more BMBE shares will be bought back. The main reason for this is, again, to ease the bookkeeping in this transition phase. It is unlikely that the buyback procedure will be re-instated, but I wont rule it out completly. BIG Lottery
TornSoul BIG Libertas Fidelitas	Posted - 2008.08.04 04:43:00 - [5] Loan&interest changes The first thing I'll do a bit differently is to completely revamp the loan/interest structure of the BMBE Effective immediately: All current loan types (RIFL/RISP/RIST) have been removed, and is replaced with just one standard loan type. Interest rate is fixed at 2% weekly (to be paid _in advance_) Collateral is fixed at 100% of the loan amount. The reasons for the above changes are among others: The (now) past loan types tended to confuse people and of the 3 loan types rarely any but the RISP type was used anyhow. So while the original idea of providing different kind of loan types in order to service loan takers the best, depending on their circumstances, was good, it has mostly turned out to muddle the picture instead. The same goes for the variable interest rate we had introduced. Originally intended as a tool to maximize BMBE's profit potential, as at the time there really wasn't much competition in the banking area, this time is past. It's a sad fact that the attention span of most in EVE, even of those looking for a loan, is extremely low. I can't count the number of times I've been approached about a loan, without people even having bothered to check out the BMBE website... Or if they had, they'd simply gone tl;dr after the first few lines.... So to curb that somewhat, the loan structure have to be as simple as possible. And as experience have shown, the multiple loan types we had on offer wasnt used much anyhow, so one loan type should be just fine. One thing is to fix the interest rate (for the above reasons), another is to lower it (to 2%). Theres one very simple reason for this : Competition. The 2% may or may not be changed in the future, but for now, I believe it to be the cheapest loan rate around, and I hope it will contribute to bringing in some business again. The idea beeing to make ISK "on volume, rather than a few expensive items(loans)" The collateral size have been changed for much the same reasons (used to be 120% of loan value) - With the added twist of interest now having to be paid in advance (so we are assured at least one payment, even on a default) I've had to explain the old 120% collateral rule so many times to potential loan takers, it's not even funny. Hopefully it will be more intuitive with the new 100% collateral rule - and again, I believe it will be more competitive as well. Overall I hope the changes will contribute to make the loan system (one type of loan) of the BMBE easier to understand for potential loan takers (who then won't get confused and simply walk away) and that the reduced interest rate will make potential loan takers consider BMBE over the competition. BIG Lottery
TornSoul BIG Libertas Fidelitas	Posted - 2008.08.04 04:43:00 - [6] State of BMBE Changes are all well and good, but doesnt tell much about the current state of the BMBE. The hard truth is that the current state of the BMBE leaves much to be desired. Both management and economics wise (and you don't get much economy without some management...) The management should now (finally) be in place - And I hope I will be able to kick BMBE into motion again. The economics... Well... Currently we haven't got a single loan. Not one... I hope that the above listed initiative will turn this around again - But I'm sure it won't come overnight. It takes awhile for the word to spread (2% interest etc) I expect 2-3 months before we will truly see (and be able to judge) the effect of the changes. The only income currently comes from the shares (dividend) bought by Ray. The ISK made on shares (dividend) is only just above pocket change, and it's simply not enough. It's of course better than nothing, but... We currently have ~66B ISK tied up in shares, and last months dividend payout was ~1.2B ISK. Not excactly stellar return (But better than then ISK just laying idle of course) The whole "side business" of trading in shares (buying/selling for profit) to make an income was Ray's invention and not something I will (or can) continue. It's never something I've dabbled in in earnest, so I simply don't have the knowledge and insight that Ray possesses, and which is required in order to "gamble" the shareholders ISK this way. So I'm left with figuring out what to do with the shares that BMBE currently owns. Some of them are paying dividends, and some are not. I'm aware that a buyback on FIN-U shares are underway - And it's on my list of things to get done. BMBE has about 12B worth of those... I'm mostly inclined to get rid of all the shares (as it's not my field of expertice), but it would seem that might not be so easy for all of them... Consider this an open call for some advice on what to do with the share portfolie that the BMBE owns (keeping BMBE's best interests in mind - aka the shareholders) In an ideal world, the above mentioned changes to the BMBE would mean that we would shortly be in need of a lot of ISK in order to provide loans - and liquidating all shares would give us more ISK, which should make more ISK than the shares currently do. Again - I'm totally open for ideas and suggestions here. May dividend The may dividend reported in (#28 - 2008.05) BMBE Shareholder Report by Sharlath has never been paid out. And as pointed out by herot in the same thread, the listed dividend was in error, as it didnt take into account that BMBE had bought back shares from the market. Now, I would personally prefer that we don't pay out the May dividend. I'm suggesting this purely for the reason of easier bookkeeping for me in this transition phase. Please note that shareholders are not "losing ISK" due to this, as all the ISK, including admin fee, goes to increase BMBE NAV instead. I'm however going to have this put to a shareholder vote - due to the fact that the May shareholder report states that the May dividend was intended to be paid out. As you will see below, July dividends won't be paid out either (not that there's alot to pay out). Again, the reason beeing for easier book-keeping in this transition phase. August would then return to normal again. Buyback stopped Effective immediately no more BMBE shares will be bought back. The main reason for this is, again, to ease the bookkeeping in this transition phase. It is unlikely that the buyback procedure will be re-instated, but I wont rule it out completly. BIG Lottery
TornSoul BIG Libertas Fidelitas	Posted - 2008.08.04 04:44:00 - [7] Edited by: TornSoul on 04/08/2008 04:53:55 BMBE numbers I may resume the template that Ray has been using in the past (or something very close to), but for this first report (after resuming as BMBE manager) I'll keep it pretty short, and simply list what I consider some key figures. As already mentioned the BMBE has currently no active loans, which is bad, but thankfully makes the whole "getting up to speed" on bookkepping that little bit easier - and hopefully makes things a bit more transparent to everyone else. Please note that the numbers listed are assuming that may dividends will not be paid out (but this is pending a vote so might change) BMBE NAV: Liquid ISK : 49,966,795,251.81 ISK Sharevalue : 66,632,040,500,00 ISK ----------------------------------- Total 116,598,835,751.81 ISK Total public BMBE : 1587 BMBE Sharevalue : 73,471,226.06 ISK Dividend : There will be no dividend payout for July (dividend payout will resume again next month) Income for July : 1,283,423,961,83 ISK (all from share dividends - as there's no active loans) Share portfolio : 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 portfolio and value is a straight copy from the (#28 - 2008.05) BMBE Shareholder Report I believe the above are the most pertinent numbers. Anything you feel is missing, and which can't be gleaned from the above, ask, and I'll see if I can provide it. Afterword If you have read all of the above, you will have noticed my copious mentions of "bookkeeping ease". The fact is, that I haven't had a thing to do with the practical side of BMBE for a good year now. And I have simply had all the available ISK and shares transfered to myself (or rather a character that is not doing anything else) I'm basically starting from scratch. There does exist a spreadsheet with details of BMBE transactions during Ray's reign (and I've also studided it in detail) This has however not been updated since Ray retired - and it does need to be corelated with some other sources as well to make a complete picture. Instead of trying to work that all out (if possible) I'm choosing to start from scratch - bookkeeping wise. Which is why I hope the shareholders will agree to simply roll the may dividends (and admin fee) into BMBE capital - else my idea of starting from scratch won't quite work... and will greatly complicate getting into the BMBE manager seat once again. I consider today as Day 1 in a new era for the BMBE (for better and worse), and as such I wish for the bookkeeping to reflect that as well. And with the above presented numbers, you the public, and especially the shareholders, know just as much as I do about the current finances of the BMBE as well. I hope this can be a re-birth for the BMBE. I also hope it can be a rebirth for me as the manager of BMBE. My last stint in that seat (when starting BMBE), before Ray took over, didn't excactly end with the best of performances. My first action, once more being in the BMBE manager seat, has been to change the BMBE loaning service, to something that hopefully will once more make BMBE the place to go if you need some extra ISK. Time will tell. BIG Lottery
TornSoul BIG Libertas Fidelitas	Posted - 2008.08.04 04:44:00 - [8] Edited by: TornSoul on 04/08/2008 04:53:55 BMBE numbers I may resume the template that Ray has been using in the past (or something very close to), but for this first report (after resuming as BMBE manager) I'll keep it pretty short, and simply list what I consider some key figures. As already mentioned the BMBE has currently no active loans, which is bad, but thankfully makes the whole "getting up to speed" on bookkepping that little bit easier - and hopefully makes things a bit more transparent to everyone else. Please note that the numbers listed are assuming that may dividends will not be paid out (but this is pending a vote so might change) BMBE NAV: Liquid ISK : 49,966,795,251.81 ISK Sharevalue : 66,632,040,500,00 ISK ----------------------------------- Total 116,598,835,751.81 ISK Total public BMBE : 1587 BMBE Sharevalue : 73,471,226.06 ISK Dividend : There will be no dividend payout for July (dividend payout will resume again next month) Income for July : 1,283,423,961,83 ISK (all from share dividends - as there's no active loans) Share portfolio : 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 portfolio and value is a straight copy from the (#28 - 2008.05) BMBE Shareholder Report I believe the above are the most pertinent numbers. Anything you feel is missing, and which can't be gleaned from the above, ask, and I'll see if I can provide it. Afterword If you have read all of the above, you will have noticed my copious mentions of "bookkeeping ease". The fact is, that I haven't had a thing to do with the practical side of BMBE for a good year now. And I have simply had all the available ISK and shares transfered to myself (or rather a character that is not doing anything else) I'm basically starting from scratch. There does exist a spreadsheet with details of BMBE transactions during Ray's reign (and I've also studided it in detail) This has however not been updated since Ray retired - and it does need to be corelated with some other sources as well to make a complete picture. Instead of trying to work that all out (if possible) I'm choosing to start from scratch - bookkeeping wise. Which is why I hope the shareholders will agree to simply roll the may dividends (and admin fee) into BMBE capital - else my idea of starting from scratch won't quite work... and will greatly complicate getting into the BMBE manager seat once again. I consider today as Day 1 in a new era for the BMBE (for better and worse), and as such I wish for the bookkeeping to reflect that as well. And with the above presented numbers, you the public, and especially the shareholders, know just as much as I do about the current finances of the BMBE as well. I hope this can be a re-birth for the BMBE. I also hope it can be a rebirth for me as the manager of BMBE. My last stint in that seat (when starting BMBE), before Ray took over, didn't excactly end with the best of performances. My first action, once more being in the BMBE manager seat, has been to change the BMBE loaning service, to something that hopefully will once more make BMBE the place to go if you need some extra ISK. Time will tell. BIG Lottery
Ambo Dirty Deeds Corp. Axiom Empire	Posted - 2008.08.04 07:54:00 - [9] Well you've sure got a fair job on your hands. Good luck with it. I can help a little with your shares situation. Quote: 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 PCT is essentially finished and the shares are all but worthless now. However there might be a payment at some point in the future. I believe BSAMT and BSMAR are solid. I'd be suprised if you had trouble selling those. Personally I wouldn't be interested due to the low returns though. BSAC June 08 Report FIN is currently waiting on BPO sales before starting a buyback & FIN-U is in the process of being bought back through resex (latest update) Last I heard AATP was looking for a new CEO not sure what actually happened with that but it's listed as paying dividends and 'normal' risk on EMFI's report -------------------------------------- Trader? Investor? Just want to track your finances? Check out EMMA
Treelox Amarr Market Jihadist Revolutionary Party	Posted - 2008.08.04 10:32:00 - [10] If you have no loans, dont understand what has been going on the last year. Are confused by the books kept by the first competent manager of BMBE(Ray), to the point where you are starting over(shudder). May I suggest that you just liquidate everything and close BMBE. I suggest this not only for the reasons listed above, but also because you seem to be someone only able to handle one public function these days and that is the running of the BIG Lottery. --

Ricdics Corporate Placement Holding	Posted - 2008.08.04 12:52:00 - [11] Originally by: Treelox May I suggest that you just liquidate everything and close BMBE. Agreed 100%. This has no bearing whatsoever on me being in EBANK, I simply think keeping it going plus withdrawing your buyback offer, not to mention having a stockpile of shares that are somewhat rubbish. Proton has been paid back in full and closed FIN & FIN-U could take months to further liquidate and is no longer paying dividends AATP hasn't paid dividends for about 4 months now and has no direction whatsoever. The core corporation invested in by AATP is not only unresponsive but also not paying dividends. That's over half the portfolio either worthless or tied up for an unknown period of time. Plus having that much isk idle... EBANK might be interested in offering BMBE an interest bearing savings account for around the 40-50b mark if you need some form of vessel to store funds. It would of course be fully accessible as loan options become available so at least your investors aren't getting nothing whatsoever from their investment in the interim. If something like the above cannot be arranged nor any alternative income vessel or serious advertising campaign then I agree with Treelox you should close now rather than drawing it out as we see occuring with FIN-U
TornSoul BIG Libertas Fidelitas	Posted - 2008.08.04 18:08:00 - [12] Edited by: TornSoul on 04/08/2008 18:11:22 @Ambo Thank you very much for the links. Especially the BSAMR&BSAMT ones. @Treelox If you have no loans, dont understand what has been going on the last year. Not sure what you mean by this... When Ray retired there was 2 small loans active, which have since been paid in full. No new ones have been made since. During the last year other loans have been made and paid back. Any given loan rarely runs for more than a couple of months - So that's really not that strange. Are confused by the books I understand the books keept perfectly. They are however incomplete and not updated. And seeing as theres no active loans atm - It's easier to start fresh, rather than trying to "repair" the existing ones (for them to "work" they require previous months to be "filled out") I believe I've been very honest about my motivation for "starting fresh", so an untrue snide remark about me not understanding the books is really uncalled for. And... The BIG Lottery is in fact not the only public function I'm (capable of) handling.... Whats with all the snide remarks anyways... sheesh @Ricdics Thank you for the additional info on the shares. And I agree with your assesment of the shares portfolie. And having that much idle ISK is definatly not productive either. With the changes I've instated I hope this will change. I'll keep your EBANK proposal in mind. But would like to wait and see if the new changes has an effect first. As for shutting down : I have no immidiate plans for doing so. BMBE has been changed quite a bit, hopefully in a way making it more competitive, closing down before seeing the effects of this would be premature in my opinion. And it would require getting rid of all the shares first anyhow, so could hardly happen anytime soon anyways (without major loss) I'm intend on making BMBE a good business again. BIG Lottery
cosmoray Cosmoray Construction	Posted - 2008.08.04 18:22:00 - [13] looks like BMBE is now a chunk of ISK and/or a share portfolio. I think it would be better to pay back a decent chunk of the cash to the shareholders via share sales and ISK distribution. Keep a minimal amount for loans. If you start to get business back you can always sell these loans onto the market, and keep the difference in the interest. There is no point in tying up capital in underperforming assets.
herot Fortunis - Redux	Posted - 2008.08.04 18:33:00 - [14] Edited by: herot on 04/08/2008 18:33:47 Hi Tornsoul. First itÆs nice to hear that the bank might be staring to function again soon. And if this process can be speeded up by retaing the dividends shored up during the last few months, I see no problems with that ( I will be placing a vote in game shortly). AmboÆs post above and the links he provided got me doing a quick run through of the figures since the date that Ray posted that he had handed over the shares and Liquid ISK to Sharlath (2008.06.09): -Since when PCT closed down, and the capital was repaid through dividends over one month from 2008.06.13 to 2008.07.13. This should have added roughly 5bil to the Liquid ISK. -In RayÆs post he mentions that he has forwarded 40bil in ISK and that a further 9,590,198,740 ISK will be sent later. -In your summary you mentioned that the income for July was 1,283,423,961,83 ISK. (No mention was made foo the month of June, but I guess we can assume that at least some dividends were paid for that month as well.) Based on these three figures I find that Liquid ISK probably should be around 56-57bil by now!? (If I havenÆt missed something completely of course) I would recommend that you recheck the wallet(s) that the shares resided in(or have the respective owner of thereof recheck) for dividends payments, from the moment Ray handed them over until they were given over into you possession. PS! Safe to say with regards to the above: it probably would be wise to get out of the share trading business and concentrate on the loan market, as you suggested. :)
Block Ukx H A V O C The Requiem	Posted - 2008.08.04 18:48:00 - [15] BSACÆs public information and financial reports can be found here: BSAC Financial Reports. Additional information can be found in the private investorÆs blog. Contact me for details. TornSoul, as of today, Ray McCormack remains the recorded owner of what I believe are BIGÆs BSAMR shares. Last monthÆs share dividends were sent to RayÆs account. If ownership were to pass to BIG, I will need an email from Ray declaring the new owner. Regards, Block Ukx BSAC Mineral Market Manipulation (MinMa) Information Desk
TornSoul BIG Libertas Fidelitas	Posted - 2008.08.04 22:47:00 - [16] Edited by: TornSoul on 04/08/2008 22:54:50 Sharlath recieved the BMBE ISK/Shares from Ray on 2008-06-09 I recieved all BMBE ISK/shares from Sharlath on 2008-06-29 -In RayÆs post he mentions that he has forwarded 40bil in ISK and that a further 9,590,198,740 ISK will be sent later. Ray had not transfered the 9.5B ISK to Sharlath by the time Sharlath transfered ISK/shares to me. Sharlath is on holiday atm - So I don't know if perhaps Ray has transfered the 9.5B ISK to Sharlath after 2008-06-29 (day Sharlath moved everything to me) So this 9.5B is unaccounted for atm. But I'm sure it'll turn up (Either Sharlath or Ray has it) I must admit I thought that ISK had already been transfered (didn't have reason to believe otherwise), and was part of the ISK Sharlath transfered to me. You bringing it up, made me study the actual logs, and I can't see a transfer anywhere... So thanks for bringing it up! Seems like NAV will go up with an additional 9.5B ISK - Once we figure out who has them. -Since when PCT closed down, and the capital was repaid through dividends over one month from 2008.06.13 to 2008.07.13. This should have added roughly 5bil to the Liquid ISK. I've recieved dividends from PCT on 2008-07-13. This only amounts to 1,214,356,428.59 ISK though (most of the july income) - Not 5B ISK (where'd you get 5B ISK from?) As far as I can tell, there might be a further payment later on : http://myeve.eve-online.com/ingameboard.asp?a=topic&threadID=741661&page=2#51 but apart from that the PCT shares are now worthless. So might as well hold on to the shares, but value them at zero in the next report - and then be pleasantly surprised if they should indeed turn out to pay some more later. Valuing at zero, will reduce NAV with 5B ISK. -In your summary you mentioned that the income for July was 1,283,423,961,83 ISK. (No mention was made foo the month of June, but I guess we can assume that at least some dividends were paid for that month as well.) Yes dividend where paid during June. It's included in the ISK Sharlath moved to me. So both June and July dividends (and admin fee) is included in the posted NAV. Based on these three figures I find that Liquid ISK probably should be around 56-57bil by now!? (If I havenÆt missed something completely of course) Liquid ISK should be 49,966,795,251.81 ISK (as already posted) 9,590,198,740 ISK ("missing" ISK from Ray) -------------------- 59.556.993.991,81 ISK Total --------------------------------------------------- TornSoul, as of today, Ray McCormack remains the recorded owner of what I believe are BIGÆs BSAMR shares. Last monthÆs share dividends were sent to RayÆs account. If ownership were to pass to BIG, I will need an email from Ray declaring the new owner. Ownership should be transfered to BMBE (aka the char I use for it - I'll EVEmail you the name) Last month's share dividends should have gone the same way. I guess those has to be recovered from Ray. If possible, could you here list excactly what that would amount to? --------------------------------------------------- @herot and Block Ukx Thank you very much for the assistance. BIG Lottery
herot Fortunis - Redux	Posted - 2008.08.05 00:10:00 - [17] Originally by: TornSoul I've recieved dividends from PCT on 2008-07-13. This only amounts to 1,214,356,428.59 ISK though (most of the july income) - Not 5B ISK (where'd you get 5B ISK from?) Hi! In the thread that Ambo linked regarding PCT, PP mentions 3 payments that he's made during June (prior to the one you recieved): -2008.06.13 (24bil total) -2008.06.15 (10bil total) -2008.06.22 (18bil total) -not posted by PP But since you mention that the 9.5 extra ISK from Ray probaly isn't accounted for yet, I assume that these dividends were included in the transfer you got from Sharlath.
Block Ukx H A V O C The Requiem	Posted - 2008.08.05 11:48:00 - [18] TornSoul, According to the stock ledger, BMBE owns 359,160 BSAMR shares and 50,143 BSAMT shares, and Ray McCormack remains the BMBE representative. You should ask him to evemail me (BSAC MMM) the new BMBE representative. BSAC Mineral Market Manipulation (MinMa) Information Desk
TornSoul BIG Libertas Fidelitas	Posted - 2008.08.05 16:35:00 - [19] @herot I assume that these dividends were included in the transfer you got from Sharlath Confirmed. Sharlath has recieved dividends on those dates - and it's part of the ISK he forwarded to me. @Block Ukx It would appear that Ray has some personal BSAMR/BSAMT shares then as the numbers you listed are higher than what's in my possesion (which equals what has been listed in the shareholder reports) I've informed him to let you know about the transfer of BMBE shares. BIG Lottery
F FLETCH	Posted - 2008.08.06 11:34:00 - [20] Edited by: F FLETCH on 06/08/2008 11:35:26 Ok, I purchased 20 shares on this alt as a quick way to make isk simple as that. When did BMBE decide to go into share dealing? Was this agreed somewhere and I missed it, I invested in this venture as a way of loaning isk, not buying shares in ventures that are now defunct. Seriously, this is why you can't offer a buy back option because you no longer have the liquid isk to cover it, what would happen is someone come along asking for a 100b isk loan? you can't cover it anymore. Can't you see that quite a high percentage of your shareholders just want this closed? It's a waste of your time and ours, do something else and let this die with honour. F Fletch

Ray McCormack hirr	Posted - 2008.08.06 16:39:00 - [21] Originally by: F FLETCH Ok, I purchased 20 shares on this alt as a quick way to make isk simple as that. When did BMBE decide to go into share dealing? Was this agreed somewhere and I missed it, I invested in this venture as a way of loaning isk, not buying shares in ventures that are now defunct. No agreement was needed, it was a management decision made by myself to avoid having ISK sitting idle. These investment details have been available for almost a year on the monthly reports, why did you not raise your concerns earlier? All the shares listed are either paying out or will be shortly. Originally by: F FLETCH Seriously, this is why you can't offer a buy back option because you no longer have the liquid isk to cover it, what would happen is someone come along asking for a 100b isk loan? you can't cover it anymore. I'm sure the buyback was rescinded for other reasons. If someone came asking for a large loan the BMBE has multiple ways of sourcing ISK to satisfy the request. From privately financed low-rate loans to the issuance of public bonds. Originally by: F FLETCH Can't you see that quite a high percentage of your shareholders just want this closed? You state that as if it's fact. And the results of a vote would surprise you. Originally by: F FLETCH It's a waste of your time and ours, do something else and let this die with honour. It's not really a waste of TornSoul's time, considering how much he spends on it. [WTS] Tech II Component BPO Sets
F FLETCH	Posted - 2008.08.07 06:17:00 - [22] If the results of a vote would surprise me why can't it be put to the vote and one way or another we will see what people want. As shareholders surely we have a right to have a voice in the running of the venture, terms like 'management descion' are banded about when it suites but we all invested in this venture it shouldn't be left to one person to blatently refuse a vote that a shareholder has called for. F Fletch
Mephie	Posted - 2008.08.07 09:23:00 - [23] Originally by: F FLETCH If the results of a vote would surprise me why can't it be put to the vote and one way or another we will see what people want. As shareholders surely we have a right to have a voice in the running of the venture, terms like 'management descion' are banded about when it suites but we all invested in this venture it shouldn't be left to one person to blatently refuse a vote that a shareholder has called for. F Fletch Why not just sell your shares on RESX or EGSE? Looking at the exchanges, I'm sure if you plopped em down at 50-60mil a pop they'd go like hotcakes. Hopefully not faster than I can buy em up though. --Meph
Ricdics Corporate Placement Holding	Posted - 2008.08.07 09:45:00 - [24] My prediction has BMBE trading at 35m within the next 6 months. Half the portfolio tied up in dud stocks and the other half sitting idle in a wallet. Add to that that TS is now running BMBE again and the future looks extremely bleak (based off past results). If investors ask for a corp vote they should definitely be getting one. As a shareholder myself I would also ask for a vote to be put forth with option to either close or continue.
Ray McCormack hirr	Posted - 2008.08.07 15:41:00 - [25] Shareholders have no say in the running of the BMBE, that was stated in the original IPO documentation. While some of the shares listed may be defunt, they are certainly not worthless. In fact, their listed price is below the price they will be liquidated for. So I'm not sure what you're arguing here, as things go that's a very healthy share portfolio. [WTS] Tech II Component BPO Sets
Ricdics Corporate Placement Holding	Posted - 2008.08.07 16:09:00 - [26] Originally by: TornSoul Share portfolio : 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 AATP hasn't paid dividends in months and has no real owner plus it's sister corp HTI is impossible to reach and hasn't paid dividends in months. FIN is doing an extremely slow buyback that has thus far gone on for months with no dividends incoming. FIN-U is same as above BSAMR and BSAMT iirc don't actually pay dividends. PCT has already closed and income from this closure should be in someone's wallet. So of 6 stocks we have : 1 closed 1 unreachable and not paying dividends 2 closing slowly and not paying dividends 2 growth stocks (iirc) and not paying dividends 0 active loans Now the only things I am not certain about is the BSAC stocks. I never understood them fully and generally had our other directors determine purchases etc in them. I would say they are the only healthy stocks left in BMBE, the rest are either worthless or not generating any income thereby tied up unutilised capital. Which isn't a major deal as you guys aren't using the capital you have in the first place. Regardless of the original operation document I am disappointed you guys wouldn't run a vote just to see what people's opinions are. Maybe people are happy to have you continue, or maybe you will get a 90% close vote. Wouldn't you prefer to be running an operation people are happy with rather than dragging your name through the mud holding it's investors hostage? If you (TS) can turn BMBE around then that's fine but I still think the decent thing to do is run the vote and garnish interest.
Ray McCormack hirr	Posted - 2008.08.07 16:44:00 - [27] Originally by: Ricdics the rest are either worthless or not generating any income thereby tied up unutilised capital. Run the numbers Ric and stop posting just for the sake of it. AATP is such a minimal amount it is hardly worth mentioning. FIN-U is valued at 950k, but is currently running a 1m buyback. FIN is valued at 6.5k, but will probably be doing a 10k buyback in the next month or two. PCT has liquidated and should be listed at 0 as the ISK was received for those from dividends. BSAMT pays dividends, BSAMR pays BSAMT and BSAMR shares. Both of which continue to climb steadily. So there is nothing unhealthy about that share portfolio at all, it's serving its intended purpose quite admirably. The numbers seen above aren't simply random figures either, investment was calculated to ensure liquid ISK was maintained in accordance with average loan amount over the past 12 months. A four month decline in loans due to management changes is no reason to rush to calls for liquidation. Besides the fact that it would never, ever be actioned (probably). [WTS] Tech II Component BPO Sets
cosmoray Cosmoray Construction	Posted - 2008.08.07 17:02:00 - [28] What happens when FIN and FIN-U are bought back, AATP is too small to worry about which leaves you with 2 sets of shares. What then happens when you are sitting on a huge pile of cash (current ISK + buybacks) and you don't get any loans. In that case what would be the purpose of holding onto everybodies money? Should you get a management fee for holding two sets of shares? Should you hold billions sitting in a wallet? Would you just hold everyone's money forever, just because it says it in the original IPO document? Do the circumstances ever change? What harm does a vote have? Problem here is the same as some of the other big IPO's, people get burnt out and leave the game and investors lose everything. You may not, but you MIGHT. Pride shouldn't make you hold onto your business when the fundamentals have disappeared.
TornSoul BIG Libertas Fidelitas	Posted - 2008.08.07 18:17:00 - [29] Edited by: TornSoul on 07/08/2008 18:21:11 Originally by: Ray McCormack Shareholders have no say in the running of the BMBE, that was stated in the original IPO documentation. That same dead horse getting flogged yet again... Poor thing. As Ray says, the IPO very very very deliberatly stated that all BMBE decisions would be management calls, not shareholder calls - and no if's or but's about it. Get over it already. It's not going to change. Period. ------------- As for the numbers (in particular the listed value of the PCT shares and the liquid ISK available), I don't like to retrospectivly change the numbers listed in this shareholder report. Instead the numbers will be updated with report #30. ------------- We've had our first (very small but still) loan after the loan/interest re-vamp. And as added factoid - This BMBE website consistently get around 25-30 hits per day - or 600-800 a month. Not a large number at all, but it's consistent! Point being, there's people out there looking for loans - all the time. And perhaps, just perhaps, we've hit the sweet spot with just one loan type and a low 2% interest rate, and then again perhaps not. Only time will tell - And thats the whole point. If we don't even try to turn the boat around, we can only fail. Hence why I in my initial post here, said I estimated 2-3 months before we'd actually be able to truly judge if these changes has had the hoped effect or not. Calling for liquidation now is premature, and pardon my french, outright stupid. You stand to lose nothing, but potentially gain alot. And if you consider not having access to the ISK you've invested as "losing something", as you could get better ROI elsewhere with it - Well... Sell your shares, it's that simple. Perhaps you'll lose some ISK on dumping the shares, but if your reason for dumping them is that you believe you can get better ROI elsewhere, that should even itself out and then some - Else what would be the point in the first place. Investing in any IPO is a risk, with some you lose all your ISK - Not with the BMBE. So stop jammering, and perhaps try and come up with some constructive ways of making BMBE a success instead. That I'll gladly listen to. BIG Lottery
cosmoray Cosmoray Construction	Posted - 2008.08.07 18:59:00 - [30] Talk about stubborn pride. Just because an IPO says something years ago, does nothing change. Treating your shareholder funds like your own personal piggy bank. Screw the shareholders! Why should you listen to your shareholders, its only THEIR business.

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