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Gabriel Virtus
hirr
Morsus Mihi
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Posted - 2009.05.01 05:42:00 -
[1]
Reserving 500 shares - 250m. Thanks
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Gabriel Virtus
hirr
Morsus Mihi
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Posted - 2009.05.04 05:05:00 -
[2]
250M sent to Caleb for 500 shares.
-GV
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Gabriel Virtus
hirr
Morsus Mihi
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Posted - 2009.05.09 04:48:00 -
[3]
I am requesting a buyback for my 500 TMP shares. Sent an email to Caleb in-game. Too many mistakes for my blood
-GV
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Gabriel Virtus
hirr
Morsus Mihi
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Posted - 2009.05.14 02:39:00 -
[4]
I am sorry, but when did investors get a chance to decide if after the audit was complete, that we were alright with the funds being released. It seems a bit strange that "pending an audit" means as soon as the audit is done, funds will automatically be released and everything is fine. There were serious concerns raised in both of the audits and this might have changed the mind of some of the investors. You should still offer buyback for a week in order to make sure the shareholders were actually satisfied with the audit and alright for the funds to be released.
So... many... mistakes. Having an undisclosed toon and investment corporation is a bit much. Having the investment corp and not releasing any information about said investment corp including previous offerings and investor testimonials is even more. Anyway, buyback should still be offered at full cost until the investors can judge whether the audit satisfied their problems with the IPO offering.
-GV
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Gabriel Virtus
hirr
Morsus Mihi
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Posted - 2009.05.14 22:31:00 -
[5]
Edited by: Gabriel Virtus on 14/05/2009 22:36:02
 Originally by: Amarr Citizen 155
Well, no one should really be complaining about the funds being released IMO. None of you specified the circumstances behind the funds being released other than "pending audit" or some other such wording. Also, and this isn't a cut against Caleb as it could happen to anyone, but this is why I didn't understand the need to involve a broker or third party to hold the isk until the audit was done. Wait for the audit, look at audit, decide to transfer your isk or not transfer your isk based on audit results and the response to the audit. You guys totally went out of order for god knows why.
Under the same logic, the money should be released no matter what once there is an audit performed... any audit, by anyone... and even if the audit returned saying that a scam was likey. I think it is reasonable to assume that when someone says "pending an audit" they mean pending a satisfactory audit by a trusted member of the MD community.
Under this circumstance, with a broker involved ( I do not agree that the broker added any sort of insurance and in fact increased the risk two-fold), the broker should have asked for the approval of the investors to release funds to the IPO. The reservations should have just kept their money until the IPO was actually going online.
I am not trying to insult Caleb or Ji, I just think the broker was done by someone clearly on the side of the IPO offerer and provided no additional security. I think the 100% buyback that Ji offered for unhappy investors a couple of posts ago was all that needed to eliminate this concern.
-GV
edit: I cant spell for ****
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Gabriel Virtus
hirr
Morsus Mihi
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Posted - 2009.05.21 05:16:00 -
[6]
As I reread the IPO plan, and the AT LEAST 2 edits that have gone through on the part about buyback, I realize that in the event of a completely successful IPO and business, Ji Sama still has the ability to rebuy all the shares at 95% of value. At first, I thought this was an offer to investors that wanted to liquidate their shares early and should rightly suffer a penalty. He has built in a guaranteed profit for himself. I thought it was an offer for investors needing liquidity, but it is what he is absolutely going to buy back all his shares for... less than people paid for them in the first place. How does this possibly make any sort of sense? Best case scenario with a very successful business plan, Ji still makes 1.25B in profit built into the plan.
Why do you keep editing the business plan an unknown amount of times? Why would you buyback shares after a successful business at a price lower than the initial investment? In the event of a closed IPO, all shares should be liquidated and all assets should be returned to share holders after debts are paid. You liquidate all assets belonging to TMP and payback debts and then split the rest to the shareholders.
I can understand a penalty for those wanted to sell shares back to you, but why would you penalize an initial investment when YOU decide to liquidate shares? This is ridiculous, I am a new investor and have learned quite a bit after watching the rocky launching of this IPO and rather strange business plan and can honestly say that I regret investing in the first place.
-GV
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Gabriel Virtus
hirr
Morsus Mihi
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Posted - 2009.05.21 07:20:00 -
[7]
Originally by: Brock Nelson
Linkage
Ji hasn't made any changes to the buyback plan. If you didn't like that part to begin with, then why invest in it?
I am new to investing and I assumed that it was an offer to buyback shares from investors trying to get out before the IPO closes, etc. Not a 95% buyback plan that can be forced on investors at any point, including now and make everyone take a 5% loss. It was my mistake to not read more carefully, but still think this is rather odd feature to use even after a successful IPO.
-GV
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Gabriel Virtus
hirr
Morsus Mihi
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Posted - 2009.06.06 03:39:00 -
[8]
Confirming receipt of 25,249,999.99 isk on 500 shares(250mil) or 10.09% dividend. Dividend was paid on 6/05/09 @ roughly 12:30 server time.
Thanks Ji Sama and TMPI! Div paid ahead of schedule and above expected returns.
-GV |
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