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Cheeba Don
Macabre Votum
Against ALL Authorities
2
   |
Posted - 2012.05.07 10:58:00 -
[1] - Quote
Dear MD,
This past week I stepped down as CEO of my old corp (Fusion Enterprises Ltd of MH, MM and NCdot).
I will be focusing this summer on a 6 month industry project and looking for a few final investors who are looking to get some nice returns on unused ISK they have.
A full business plan for my project can be found here
In addition, Vaerah Vahrokha has done an audit which he will post in this thread shortly.
But the tldr is:
- I am raising cash to invest in my industrial/trading alt corps
- I am selling 100 shares at 1bill each this May
- In October I will buy those shares back from investors plus profit
I invite any pilots who have flown with me in MH, MM, NC. etc, or anyone who has known me in game and found me to be a trust-worthy fellow, to get in touch.
This is Phase 2 of the share sales schedule. Phase 1 has seen over 50% of the shares sold, and more reserved, so I expect this IPO to sell out shortly.
Investors will be kept up to date on the project via this blog: http://fireflycapitalventures.blogspot.co.uk/
If interested, do read the above business plan, and if you still have any questions, feel free to convo me, mail me or post in this thread.
Thanks, Cheeba Don |
Vaerah Vahrokha
Vahrokh Consulting
706
|
Posted - 2012.05.07 11:07:00 -
[2] - Quote
Audit report for Cheeba Don business proposal
This is Vaerah VahrokhaGÇÖs analysis as of 2012-04-05 14:00 EvE Time.
NEISIN code: CSUNDSCIP011.
Official discussion: link to investment prospectus.
Public Audits Record (PAR) for this investment: backlink.
Tools used
jEveAssets
EvE Mentat
Microsoft-« ExcelGäó
Blender 3D => LuxRender
Paint.NET => Bolt Bait Pack, DPY Plugins, MadJik Pack, Vandermotten Effects
Forewords about the Audit
The Investee wants to keep his corporation identity private. The corporation will be called: GÇ£Indy Corp AlphaGÇ¥.
Cheeba Don is an heavily decorated 0.0 PvP player, high sec trader and manufacturer.
In order to expand on his current activity he is starting an uncollateralized IPO.
Generalities
By express indication of the Investee, this audit will exclusively cover the following points:
1) Corporation Net Assets Value.
2) Proof of production.
The Investee provided a corporation and 3 accounts characters API keys for the above assessments. The Auditor performed some addidional investigations as well.
Main character for this proposal is Cheeba Don.
Cheeba Don is a Feb 2006 character. He got 78M SP with a lot of diverse skills: from being able to fly a supercapital ship (many PvP skills trained to V) to T3 to mining to trading, PI and much more.
His alts cover leadership positions in Indy Corp Alpha and have a wide range of manufacturing, researching, invention, trading and transport skills.
Cheeba Don and his alts forum posting history is not very long. It does not show evident ill-behaviors, posts are generally about trading, manufacturing, blueprints and so on. His alts killboard shows a number of losses for a total of about 2B, mostly in low sec and mostly about cyno ships being destroyed or on another PvP alt. He killed loads though, for about 200B worth of value, with a win:loss ratio of more than 7:1.
Manufacturing statements
Cheeba Don alts have all sorts of manufacturing, research and invention skills. There are records about capital parts, capital ships and T2 production and invention.
Follow anonymized screenshots showing these activities:
Production and research
Production and invention
Trading statement
ItGÇÖs possible to determine that Indy Corp Alpha buys the materials needed to produce tech 1 and 2 items and that sells those items on the market.
Follows an anonymized screenshot showing these activities:
Trading
Involvement in other business
Cheeba Don has not disclosed about liabilities in other business
Business Plan Analysis
The Investee has sent the Auditor a prospectus detailing the business plan, alts assigned tasks and a possible prospectus and other data.
The Investee disclosed his strategy to the Auditor. It involves manufacturing a variety of items and selling them on the markets.
Feasibility statement: the business plan looks viable, but accurate performance data could not be gathered due to the lack of long term trading data.
Collateral and exit strategy
The Investee wonGÇÖt post collateral for this IPO.
An exit strategy plan has been proposed.
Auditing | Collateral holding and insurance | Consulting | PLEX for Good Charity
Twitter channel |
Vaerah Vahrokha
Vahrokh Consulting
706
|
Posted - 2012.05.07 11:08:00 -
[3] - Quote
Net Asset Value and other balance considerations
The estimated net worth of all liabilities, solid & liquid assets is about 319.539B ISK.
Market transactions are made either by the Investee character or another corporate character.
Assets across all of the characters and corporations are estimated to be worth 276.383B.
Important notice: the reported values may be lower than the real amounts, because certain assets in certain conditions are not reported by the API.
Assets and balance
Balance
Wallet balance: 30.251B
Market sell-orders: 12.681B
Market escrow: 0.224B
Contracts: 0.000B
Investments / receivable: 0.000B
Liabilities / payable: (0.000) B
Total: 43.156
Assets
POS: 8.115B
Fleet / ships (unfitted): 4.753B
Modules: 3.298B
Misc. solid assets; minerals, salvage, ice and trade goods etc.: 76.174B
Blueprint copies and originals: 172.195B
Other
Accessories (includes PLEXes): 0.000B
Charges: 0.097B
Commodities: 6.415B
Drones: 0.447B
Ordered assets under construction: 0.000B
Planetary items or resources: 3.522B
Ship components: 0.000B
General or classified items: 1.367B
Total: 276.383
Estimated grand total: 319.539 Billion ISK
The above evaluations were made by using The Forge prices as reference.
Conclusions
Due to the lack of performance data, lack of collateral and large size of the investment, the Auditor classifies this investment as high risk.
Please notice how GÇ£high riskGÇ¥ does not mean GÇ£unsafeGÇ¥. ItGÇÖs two different concepts. Talking about high risk of bad performance, risk of real life complications etc. is one thing, the ever present chance of scam is another. The latter cannot be prevented by an audit, which only acts as first line deterrent.
Indy Corp Alpha as a whole seems competent (skills wise and player wise) enough to deliver on their statements and have past positive records. Their business is in a growth phase.
Basically, the Investee looks like having the ability to successfully honor the IPO. Notice how an audit may only evaluate the ability or potential of an Investee to succesfully honor a bond / IPO.
The Auditor suggests perspective Investors NOT to invest their full capital on this venture but to offer what they could eventually afford to lose.
Disclaimers
Due to stringent EvE API limitations, although the information provided to you on this document is obtained or compiled from sources believed to be reliable, Vahrokh Consulting cannot and does not guarantee the accuracy, validity, timeliness, or completeness of any information or data made available to you for any particular purpose.
This Auditor is actively and passionately against any breach of privacy, in particular regarding in game mail API access. Therefore no information will ever be gathered and no audit will ever be released that will contain any element found by eavesdropping someone else's private communications.
Neither the information nor any opinion contained in this document constitutes a solicitation or offer by Vahrokh Consulting or its affiliates to buy or sell any securities, assets or services.
Auditing | Collateral holding and insurance | Consulting | PLEX for Good Charity
Twitter channel |
Darth Tickles
Dark Sun Consortium
312
|
Posted - 2012.05.07 13:13:00 -
[4] - Quote
Guy is quitting the game after the final failure of his corp and wants to get a "big" public scam under his belt before he does, just so he's had the "full eve experience". |
Liberty Eternal
Red Federation
RvB - RED Federation
71
|
Posted - 2012.05.07 19:27:00 -
[5] - Quote
Darth Tickles wrote:Guy is quitting the game after the final failure of his corp and wants to get a "big" public scam under his belt before he does, just so he's had the "full eve experience".
Predicting people's intentions is difficult - do you have any direct evidence? |
Darth Tickles
Dark Sun Consortium
317
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Posted - 2012.05.07 19:33:00 -
[6] - Quote
Liberty Eternal wrote:Predicting people's intentions is difficult
Speak for yourself.
|
Cheeba Don
Macabre Votum
Against ALL Authorities
3
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Posted - 2012.05.08 07:59:00 -
[7] - Quote
Liberty Eternal wrote:Darth Tickles wrote:Guy is quitting the game after the final failure of his corp and wants to get a "big" public scam under his belt before he does, just so he's had the "full eve experience". Predicting people's intentions is difficult - do you have any direct evidence?
no. no he doesn't.
|
Babyface Eighteen
School of Applied Knowledge
Caldari State
1
|
Posted - 2012.05.08 14:10:00 -
[8] - Quote
100b scam is not what it used to be.
Good luck! |
De Guillaume
Black And Yellow Investments
264
|
Posted - 2012.05.09 13:32:00 -
[9] - Quote
Darth Tickles wrote:Guy is quitting the game after the final failure of his corp and wants to get a "big" public scam under his belt before he does, just so he's had the "full eve experience".
i think you might be right. with how much asset he is holding, he must at least be able to provide 50-60% of the 100b in collateral
:} |
Darth Tickles
Dark Sun Consortium
352
|
Posted - 2012.05.09 13:52:00 -
[10] - Quote
Of course I'm right. |
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Cheeba Don
Macabre Votum
Against ALL Authorities
3
|
Posted - 2012.05.09 19:25:00 -
[11] - Quote
The share sale is over.
For those who missed out but are interested, please send me a mail expressing your interest and if one of the current investors wants to cash out early, we can organise the sale of shares over to the new investee.
|
Cheeba Don
Macabre Votum
Against ALL Authorities
4
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Posted - 2012.06.09 16:10:00 -
[12] - Quote
Month 1 Profit Report |
Vaerah Vahrokha
Vahrokh Consulting
1241
|
Posted - 2012.06.09 17:28:00 -
[13] - Quote
Good job!
Auditing | Collateral holding and insurance | Consulting | PLEX for Good Charity
Twitter channel |
Cheeba Don
Macabre Votum
Against ALL Authorities
4
|
Posted - 2012.07.03 12:00:00 -
[14] - Quote
For those interested in these sorts of reports...
A DCU profit story.
A month ago, I pushed the DCU market up and managed to hold it for almost a month. Was a lot of fun and very profitable.
For investors, the next monthly report will be out in a few days. |
Cheeba Don
Macabre Votum
Against ALL Authorities
4
|
Posted - 2012.07.06 08:21:00 -
[15] - Quote
Month 2 Profit Report
Investors should be pleased. |
Estel Again
Defense Industries
28
|
Posted - 2012.07.06 10:25:00 -
[16] - Quote
Am I correct that the profit report shows that you raised 80B instead of the proposed 100B? |
Cheeba Don
Macabre Votum
Against ALL Authorities
4
|
Posted - 2012.07.06 10:38:00 -
[17] - Quote
Estel Again wrote:Am I correct that the profit report shows that you raised 80B instead of the proposed 100B?
The short story - I raised just under 70b.
The slightly longer story about why I didn't keep going to 100b. |
Estel Again
Defense Industries
28
|
Posted - 2012.07.06 11:30:00 -
[18] - Quote
That doesn't say why you didn't, just that you didn't.
Reconstructing things a bit:
2012.05.07 - you had "over 50%" of 100B in investments.
2012.05.09 - share sale "is over"
2012.06.07 - you disclose that you raised 67B
That's 10B to 17B raised in just 2 days, quite a feat. Congratulations! (Of did it take a month to raise it?)
It's a shame none of the investors posted here. Has VV verified the investments coming in?
(The audit says 0B in liabilities, though you say you had >50B at the time.) |
Cheeba Don
Macabre Votum
Against ALL Authorities
5
|
Posted - 2012.07.06 11:52:00 -
[19] - Quote
As with these projects - during fundraising a lot of people pledge money, but when you come round to collect not all of them actually have it on hand. Indeed one investor gave me money then promptly asked for it back.
Why I didn't keep going to 100b - to quote that blog post:
Quote:While the original goal had been 100bn, this smaller share sale still allowed me to get my projects underway. In hindsight, 100bn was a nice round number but had I raised that much, the final returns on investment would have been less as I am not sure I could have put all that ISK to use.
Simply put 100b was more than enough to do what I wanted and it sounded nice :) However, to get the reaction towers and manufacturing underway - only ~60b was actually needed. The remainder has been used in trading.
In addition - in my original business plan, I wasnt putting any isk into the project (apart from assets etc) and was intending to make ISK for myself by taking a % of the profits. What I ended up doing was selling 67 shares, and then buying 13 myself to bring the total starting wallet to 80b.
Needless to say, the business plan has evolved.
Finally, no investors have posted in this thread as the vast majority of them came from FHC, and many failheapers have a superiority complex about the eve-o forums :) You can visit the fhc thread here. |
Strrog
Caldari Provisions
Caldari State
0
|
Posted - 2012.07.07 02:29:00 -
[20] - Quote
Hello Cheeba,
At this point whats available for investors and what return should be expected?
thx |
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Cheeba Don
Macabre Votum
Against ALL Authorities
6
|
Posted - 2012.07.07 10:52:00 -
[21] - Quote
Strrog wrote:Hello Cheeba,
At this point whats available for investors and what return should be expected?
thx
At this time, FCV consists of 80 shares and there is no intention to issue any further.
However, some current shareholders are considering selling some or all of their shares. Share sales will be done through me if this occurs, and I will advertise on this thread and others if shares become available. Share transfers not done through me will be invalid.
Shares do not currently pay a monthly dividend. Instead I will initiate a share buyback in October. Monthly returns vary greatly (see blog) but 10% monthly returns overall would be a safe guess. |
Cheeba Don
Macabre Votum
Against ALL Authorities
6
|
Posted - 2012.07.11 16:18:00 -
[22] - Quote
I have one share for sale at 1.52b.
It will be sold on first come first serve basis - first person to send me a mail will be told where to send ISK.
I will update this thread with any further share sales in the future.
Thanks |
Cheeba Don
Macabre Votum
Against ALL Authorities
6
|
Posted - 2012.07.12 09:17:00 -
[23] - Quote
Share is sold.
Also new posting about chasing sell orders. |
Strrog
House Aratus
Fatal Ascension
0
|
Posted - 2012.07.14 15:34:00 -
[24] - Quote
Well looks like I missed 1 share there lol.
Perhaps reservation is possible? |
Cheeba Don
Macabre Votum
Against ALL Authorities
6
|
Posted - 2012.07.17 08:27:00 -
[25] - Quote
Strrog wrote:Well looks like I missed 1 share there lol.
Perhaps reservation is possible?
Yes it is. I'll add you onto the list. 3 shares traded hands last week so there is some turnover. |
SetrakDark
DarkCorp Capital Group
DarkCorp Imperium
125
|
Posted - 2012.07.17 08:43:00 -
[26] - Quote
Strrog wrote:Well looks like I missed 1 share there lol.
Perhaps reservation is possible?
I have 3 shares for sale, not sure how many you want. 1.5b each, so 4.5b for all 3, though I'm willing to sell them individually.
I'll leave these as an open sale for anyone, first to send me the money will get the shares. I'll update this post as they sell...I expect them to all be gone by the time I wake up tomorrow. |
Cheeba Don
Macabre Votum
Against ALL Authorities
6
|
Posted - 2012.07.17 10:15:00 -
[27] - Quote
SetrakDark wrote:Strrog wrote:Well looks like I missed 1 share there lol.
Perhaps reservation is possible? I have 3 shares for sale, not sure how many you want. 1.5b each, so 4.5b for all 3, though I'm willing to sell them individually. I'll leave these as an open sale for anyone, first to send me the money will get the shares. I'll update this post as they sell...I expect them to all be gone by the time I wake up tomorrow.
SetrakDark owns NO shares in FCV.
All share sales or purchase must be done through me or my alt, Firefly CEO.
If you wish to sell your shares, you must use me as a third party to ensure no one gets scammed. Alternatively, you can sell the shares directly to me and I will find another buyer.
Thanks |
Mr Bushar
Myron Gainez
9
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Posted - 2012.07.17 13:10:00 -
[28] - Quote
Darth Tickles wrote:Guy is quitting the game after the final failure of his corp and wants to get a "big" public scam under his belt before he does, just so he's had the "full eve experience".
Just came here to say that... not only did you call me a scammer in my thread right away (and still are trolling in it), I now see that you also called one of the best investments in eve online (firefly capital ventures) a scam.
This forum needs to chill with all the negative pathetic posters who think they are so intelligent and are "onto something" every time someone makes an offering. Thank you for showering us with your wisdom, that everyone is a scammer, now please get out.
To OP: I've been following your blog and operations and I am very impressed. Amazing job, I would never be able to do that myself. |
Darth Tickles
Dark Sun Consortium
679
|
Posted - 2012.07.17 13:48:00 -
[29] - Quote
lol this is a scam
the guy just makes stuff up and posts some random screenshots, much like you
he didn't sell any "bonds" originally, so now he's trying to "resell" imaginary bonds he "sold" to his alts, much like the imaginary bonds that you sold to yourself
It's easy to call everything a scam because 99% of the bullshit on here is a scam
also wolololol umad about your ****** scam? |
Cebraio
Starfire Oasis
168
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Posted - 2012.07.17 13:51:00 -
[30] - Quote
Mr Bushar, before you reply: Know that Darth Tickles is a known troll here. He has an agenda going to "prove" that all MD arrangements are doomed to fail. People, who know him, don't take him seriously around here. |
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