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Thulem
Milestone Institute of Technology
   |
Posted - 2009.08.22 11:30:00 -
[1]
Hello everybody,
Who am I?
I am Thulem. I am a T2 industrialist for over 2 years now. Some of you might know me from the Sell Orders Forum, where I used to buy T2 BPOs if they appeal to me. After spending some time with great people in the corporation KdZ I decided that it was time to concentrate on what is most fun for me. Since the corp was organized communistc I left to maximize profits and economic growth.
What do I want?
I read a lot about eve's financial market and the products that were offered. I was always interested in participating, but nothing really suited my way of playing. As a T2 industrialist I earn a lot of money, but sometimes there is a an investment opportunity coming up and my own cash is simply not enough to take it. This is very frustrating. I started to contact old friends from who I know they were also big in business and I borrowed money from them whenever I needed it. The problem again is, that they are not always available and sometimes they are also out of cash at that moment. I need a new way to get cash and then I thought of bonds and the public financial market of eve.
Today I want to introduce a new investment opportunity to you: A perpetual bond.
This is a kind of bond that has no maturity date. Practically this allows me to hold investors' cash as long as I want and as long as they allow me to (details follow below), while I pay a monthly coupon (interest) to them.
Details:
The BOND (20 available - 10.000.000.000 ISK total):
Face Amount: 500.000.000 ISK
Date of Issue: 1st September 2009
Maturity: -
Coupon:5%
Coupon Dates:1st of each month
Callability: The issuer (me) has the right to repay a bond at each first of a month without prior notice. In this case the bond will be repaid together with the coupon for the last month.
Putability:The holder (you) has the right to force the issuer (me) to refund the bond after 21+ days after the request.
Explanation:
Face Amount:This is the volume of each bond. You can only invest in multiples of this.
Date of Issue:This is the date at which the bond officially starts. 1st October will be the first interest payment.
Maturity:This is the date at which the bond normally ends. In this case there is no fixed maturity.
Coupon:This is the interest rate that will be paid after each month to the investors.
Coupon Dates:These are the exact dates on which the interest will be paid to the investors.
Callability:This explains my right as the issuer to repay any issued bond within the mentioned limits.
Putability:This explains your right as the investor to request refunding of your money at any time, with the limit that you have to allow me at least 21 days to get your cash together. If you send me a request on 7th of a month for refunding on 28th of that month, you will get no interest payment for that month. However you can request refunding on the first of the next month and you will receive full interest for this month.
Please note:There will be a limit of up to 4 bonds per investor. This minimizes the risk that all 10b ISK are requested to be refunded at once. It also increases the number of investors I can build up mutual trust with. |
Thulem
Milestone Institute of Technology
|
Posted - 2009.08.22 11:31:00 -
[2]
Why should you trust me with your cash?
Your security:
If you have any doubts, I encourage you to contact the sellers if these auctions were real!
In addition I am in contact with a trusted auditor to perform an audit on my account(s) in order to confirm what I have stated here. Unfortunately the guy seems quite busy and I cannot tell yet if and when his confirmation of my statements will follow. We still have to talk about my privacy and his payment. Again: it is NOT SURE if this audit will be performed! This will also depend on your feedback here. If it turns out that it is not necessary, I won't do it as it is also a security risk for me.
As you can see the risk that I run away with 10b ISK is quite low. 10b ISK is not much for me, but it can help me to get what I want if the opportunity comes up. Liquidity is very important for me and I am absolutely willing to pay 500m ISK in monthly interests to ensure it.
How do we get this going?
There is a total of 20 bonds available for 500m ISK each. You are allowed to buy a maximum of 4 bonds. In order to buy a bond, you transfer the corresponding amount of cash directly to my main character Thulem before 1st September 2009. As soon as I can confirm the receipt of the money, I will put your name on the list of investors below. Only people on this list are duly registered! So make sure you are.
List of Investors:
-
You can always contact me by EVE-mail in English or German if you have any questions. Of course I will also check the forums.
---
Thulem can cut onions without crying! |
Thulem
Milestone Institute of Technology
|
Posted - 2009.08.22 11:32:00 -
[3]
Edited by: Thulem on 22/08/2009 11:43:51
Status:
There are currently 20 bonds available.
Next interest payment will be 1st October 2009. |
Mikael Genexi
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Posted - 2009.08.22 14:55:00 -
[4]
If you have the audit performed and it shows that you still have the BPOs in your possession then I will purchase 2 bonds.
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Varnik
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Posted - 2009.08.22 15:20:00 -
[5]
Subject to a successful audit I would purchase 1 bond.
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Vaerah Vahrokha
Minmatar
Dark-Rising
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Posted - 2009.08.22 17:14:00 -
[6]
In case you don't get an audit made, I think I am the only other active auditor. In case you want to use of my services I am available for the next 3 days, then I'll have surgery and will be unable to audit till half Sept.
-
Auditing and consulting
Before asking for investors, please read
http://tinyurl.com/n5ys4h and
http://tinyurl.com/lrg4oz
|
leona starfire
LS Trading and Production Inc.
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Posted - 2009.08.22 17:44:00 -
[7]
If you are willing to have an audit put me down for one bond.
thanks
Leona starfire
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Box Kicker
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Posted - 2009.08.22 17:52:00 -
[8]
I'll take one please after an audit
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Miyahon
Gallente
LEM0N
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Posted - 2009.08.22 18:02:00 -
[9]
I'd like to reserve one bond aswell pending audit.
|
Jonas Xiamon
Caldari
Stones Inc.
|
Posted - 2009.08.22 18:48:00 -
[10]
Edited by: Jonas Xiamon on 22/08/2009 18:52:18
I will also reserve one bond, pending an audit.
-----------------------------------------------
Words are in essence meaningless, action is true definition. You ask who I am? Then observe me. |
Fraps
Setenta Corp
Libertas Fidelitas
|
Posted - 2009.08.22 18:55:00 -
[11]
I would like to reserve 2 bonds, pending an audit of course.
 Originally by: Rohann
/emote pokes woody and moons him
I R NEKID SEE!?!?!?!?!
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cosmoray
Cosmoray Construction
|
Posted - 2009.08.23 04:34:00 -
[12]
A few points:
1. I don't really see why you need the cash? Wish an 8B positive cash flow each month, you should have adequate reserves for any purchases.
2. A perpetual bond doesn't really favor an investment. You get financing, but the shareholders are at your mercy. You can decide to never buy the shares back, and as long as you pay the interest no one can do anything about it.
I would always recommend a term limit on a bond. This gives a bond holder the right to cash out. The bond can be extended for another term limit but it is the shareholders choice.
3. If you are worth so much an audit to prove it is mandatory.
4. Even if you are as rich as you state, you have no rep on this forum. Whether your rich or poor, new players should have to pay higher rates of interest than more established players with previous good credit history of successfully running businesses. New players should also consider having to have assets locked down to add as a security.
No offense, you might be rich but why should we trust you?
5. I am also surprised you havewn't come back to answer any questions.
|
motomysz
No Limit Productions
Mostly Harmless
|
Posted - 2009.08.23 05:07:00 -
[13]
Originally by: cosmoray
A few points:
1. I don't really see why you need the cash? Wish an 8B positive cash flow each month, you should have adequate reserves for any purchases.
2. A perpetual bond doesn't really favor an investment. You get financing, but the shareholders are at your mercy. You can decide to never buy the shares back, and as long as you pay the interest no one can do anything about it.
I would always recommend a term limit on a bond. This gives a bond holder the right to cash out. The bond can be extended for another term limit but it is the shareholders choice.
3. If you are worth so much an audit to prove it is mandatory.
4. Even if you are as rich as you state, you have no rep on this forum. Whether your rich or poor, new players should have to pay higher rates of interest than more established players with previous good credit history of successfully running businesses. New players should also consider having to have assets locked down to add as a security.
No offense, you might be rich but why should we trust you?
5. I am also surprised you havewn't come back to answer any questions.
For the record, I agree with everything you've said. With that out of the way, he did say, "Putability: The holder (you) has the right to force the issuer (me) to refund the bond after 21+ days after the request. "
|
Vaerah Vahrokha
Minmatar
Dark-Rising
|
Posted - 2009.08.23 07:12:00 -
[14]
Originally by: motomysz
Originally by: cosmoray
A few points:
1. I don't really see why you need the cash? Wish an 8B positive cash flow each month, you should have adequate reserves for any purchases.
2. A perpetual bond doesn't really favor an investment. You get financing, but the shareholders are at your mercy. You can decide to never buy the shares back, and as long as you pay the interest no one can do anything about it.
I would always recommend a term limit on a bond. This gives a bond holder the right to cash out. The bond can be extended for another term limit but it is the shareholders choice.
3. If you are worth so much an audit to prove it is mandatory.
4. Even if you are as rich as you state, you have no rep on this forum. Whether your rich or poor, new players should have to pay higher rates of interest than more established players with previous good credit history of successfully running businesses. New players should also consider having to have assets locked down to add as a security.
No offense, you might be rich but why should we trust you?
5. I am also surprised you havewn't come back to answer any questions.
For the record, I agree with everything you've said. With that out of the way, he did say, "Putability: The holder (you) has the right to force the issuer (me) to refund the bond after 21+ days after the request. "
Define "force to refund" in EvE.
-
Auditing and consulting
Before asking for investors, please read
http://tinyurl.com/n5ys4h and
http://tinyurl.com/lrg4oz
|
Camwor
Gallente
Intergalactic Industrial Board
|
Posted - 2009.08.23 07:23:00 -
[15]
Subject to successful audit, I would buy 1 bond.
|
Thulem
Milestone Institute of Technology
|
Posted - 2009.08.23 09:45:00 -
[16]
Thank you all very much for your interest and feedback.
As mentioned before I have been in contact already with a trusted auditor and according to your feedback this audit will be performed. I have come to an agreement with the auditor and he will post here as soon as the work is done. I estimate it will be next Tuesday.
Cosmoray, I understand your concerns. Please let me comment on your points:
1. As explained in the introduction above I have often found myself in situations where I don't have the cash I need. I want liquidity and am willing to pay for it. If these 10b ISK I ask here make the difference it is all worth it!
2. Please see the comment from Motomysz. This is an important attribute of the bond that has been integrated by me to make it more flexible for you, the investors.
3. Acknowledged. It will follow as stated above.
4. I will do what is necessary for this bond to be successful. At the moment I don't see the necessity of what you ask. Beyond that the negative impact (of what you ask) on my business would ruin the cost-value ratio of this project thus make it uninteresting for me.
5. Be patient son. All questions will be answered.
Vaerah Vahrokha, thank you for your question.
As explained above the putability is an attribute of the bond in favor of the investor. It is integrated to allow you as an investor to get your money refunded within an appropriate amount of time. It makes this kind of bond more flexible. Of course the enforceability of such a request is subject to trust, as is this entire project.
Thank you all again for your interest. |
Mike Clark
|
Posted - 2009.08.23 12:49:00 -
[17]
I would also like to reserve 2 bonds, pending an audit. |
Thulem
Milestone Institute of Technology
|
Posted - 2009.08.25 16:56:00 -
[18]
It is time to post an update on the current status of the audit.
The terms between the auditor and me have been agreed.
Full API keys of my accounts have been given to the auditor on 23th August, so he could start working.
I have not received his report yet, so I assume RL issues kept him from performing the audit until now. As real life is always top priority, I ask for your patience.
I will post news as soon as they are available.
Thank you all again for your interest. |
Ashleelolz
|
Posted - 2009.08.25 17:18:00 -
[19]
I'll reserve 4 shares pending a favorable audit.
|
Velina Kovashka
The Infinity Group
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Posted - 2009.08.25 18:03:00 -
[20]
Reserving 1 Bond pending audit
|
Camwor
Gallente
Intergalactic Industrial Board
|
Posted - 2009.08.25 20:36:00 -
[21]
Originally by: Camwor
Subject to successful audit, I would buy 1 bond.
Upgrade to 2 bonds please.
|
Dethmourne Silvermane
Gallente
Ceptacemia
Systematic-Chaos
|
Posted - 2009.08.26 01:08:00 -
[22]
Who's the auditor?
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Kazzac Elentria
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Posted - 2009.08.26 01:29:00 -
[23]
Originally by: Dethmourne Silvermane
Who's the auditor?
Me, and it was on my docket to get done today but I was sick, kid is still sick (bronchial bacteria or some such), and now the wife was sick.
Add to that I had a client that required a 5 sefver exchange migration with unified messaging that I had to walk through over the phone and email with another support rep.
....its been a fun start to the week. So apologies in advance.
I'm gonna try and squeeze some time tomorrow, it really won't take me long just confirmation of a bunch of stuff. |
Miyuki Suzumiya
|
Posted - 2009.08.26 02:41:00 -
[24]
I will reserve 4 bonds pending audit.
|
Thulem
Milestone Institute of Technology
|
Posted - 2009.08.26 17:52:00 -
[25]
Edited by: Thulem on 26/08/2009 17:54:11
I intended not to name the auditor before the report was finished, but as Kazzac already revealed himself, I hereby confirm that Kazzac Elentria is assigned to perform the audit.
Please note:
All available bonds have been reserved now with subject to a performed audit.
No bonds have been purchased until now. Direct purchases before the published audit will squeeze out last reservations (list above is in chronological order).
Any further interest may be announced and will be noted seperately. It will be considered if a reservating party fail to send the money until the end of 31th August, 23:59 EVE time. In this case I will notify other interested parties in chronological order on 1st September (after I returned home from work - approx. 17:00 eve time) and will grant them the chance to purchase still available bonds with full interest payment for September.
Thank you all again for your interest. |
Kramutti
|
Posted - 2009.08.26 18:07:00 -
[26]
Either the bonds are reserved or they are not, can you please clarify?
|
Thulem
Milestone Institute of Technology
|
Posted - 2009.08.26 19:52:00 -
[27]
As a careful reader that you are, you have doubtlessly read that all made reservations are subject to a performed audit. This means they mean nothing until said audit is published.
Until then everybody who wants to purchase these still available bonds is welcome to invest and will be favored before any other conditioned reservations.
As soon as the audit is published, the requirement for the reservations is met and they become effective.
If you have any further questions, do not hesitate to ask. |
Thulem
Milestone Institute of Technology
|
Posted - 2009.08.28 18:01:00 -
[28]
It's time again to let you know what is happening.
I've heard nothing from Kazzac yet, so I've contacted him again today. As mentioned before he seems very busy, but I am confident that he will find time for the audit within the next hours/days as weekend is near.
I thank you all again for your interest and patience. |
Jonas Xiamon
Caldari
Stones Inc.
|
Posted - 2009.08.28 21:57:00 -
[29]
Edited by: Jonas Xiamon on 28/08/2009 21:59:24
*Jonas continues to wait impatiently for an audit report.*
Edit: Also, we're allowed to sell our bonds for more than we bought them yes?
-----------------------------------------------
Words are in essence meaningless, action is true definition. You ask who I am? Then observe me. |
Thulem
Milestone Institute of Technology
|
Posted - 2009.08.29 11:24:00 -
[30]
Thank you very much for your patience, Jonas.
Regarding your question, please be informed that trading the bonds is not supported.
This is just because I have to keep track of all the bond owners at any given time in order to ensure overview and correct interest payments. I have no interest in updating the investor list every day. What you ask could easily become common practice ( tertiary market), which would be very time consuming for me. I know this is what you intended.  But I don't have the time and willingness to support this. T2 production and trading is my business, bond brokering is not.
Thank you for the chance to clarify this topic. |
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