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Mikael Genexi
Gallente Product Number 3
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Posted - 2009.09.25 19:37:00 -
[61]
Hi Thulem.
Just wondering how this bond is making any sense for you?
My calculations might be off but it looks like your new BPO could generate around 300M a month for you.
But you are paying out 500M per month (not taking into account that you had to shell out 3.25B of your own ISK).
It seems like you are losing Isk on this bond. I know you are adjusting the payout downward to 400M but should you not drop it to a level so that you are at least breaking even?
Just curious because it seems like most T2 BPOs are selling for an ROI of less than 3%/month these days so I can't see how a 5% bond to buy one works out.
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Thulem
Milestone Institute of Technology
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Posted - 2009.09.26 15:51:00 -
[62]
First of all, please keep in mind people, that I do not want this thread to become a discussion thread. You are all welcome to ask questions and they will be answered, but I won't discuss here.
I just wanted to make this clear, because your question, Mikael, which is welcome, is such a question that usually leads to a discussion. Now I'd like to answer it:
Your calculation regarding the new BPO differs from mine. Now that is nothing special since considered factors and numbers tend to differ depending on whom you ask. That's why I won't go into this further.
It's not important anyway, because your main mistake is the assumption that I have used 10b of public ISK to finance the new BPO (which btw was 14.25b). Imagine I have just used 5b of public ISK and paid the difference (9.25b) with my own ISK. Let us assume this BPO really returns 300m of monthly profit. Then 250m of this 300m will be spent on interest payments, while I still earn 50m for myself. That's a bad ROI for myself, but I still make profit.
What you have to consider is the fact that it is not important how much interest I pay for public ISK for me to still being profitable. It's all about how I use this public cash. It's about to what extend I let you (the investors) participate in my business. To keep this in line is my responsibility and you can trust that I know what I am doing with my money.  |

Kalrand
Charles Ponzi School of Business GoonSwarm
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Posted - 2009.09.29 09:01:00 -
[63]
Originally by: Thulem Edited by: Thulem on 26/09/2009 22:41:10
First of all, please keep in mind people, that I do not want this thread to become a discussion thread. You are all welcome to ask questions and they will be answered, but I won't discuss here.
I just wanted to make this clear, because your question, Mikael, which is welcome, is such a question that usually leads to a discussion. Now I'd like to answer it:
Your calculation regarding the new BPO differs from mine. Now that is nothing special since considered factors and numbers tend to differ depending on whom you ask. That's why I won't go into this further.
It's not important anyway, because your main mistake is the assumption that I have used 10b of public ISK to finance the new BPO (which btw was 14.25b). Imagine I have just used 5b of public ISK and paid the difference (9.25b) with my own ISK. Let us assume this BPO really returns 300m of monthly profit. Then 250m of the 300m will be spent on interest payments, while I still earn 50m for myself. That's a bad ROI for myself, but I still make profit. I could use the other 5b ISK of public cash later on a similar project.
What you have to consider is the fact that it is not important how much interest I pay for public ISK. It's all about how I use that public cash. It's about to what extent I let you (the investors) participate in my business. To keep this in line is my responsibility and you can trust that I know what I am doing with my money. 
Edit: Corrected some spelling mistakes for better readability.
So you skipped that whole part of the corporate finance textbook where they talk about cost of funding, right?
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Thulem
Milestone Institute of Technology
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Posted - 2009.10.01 18:24:00 -
[64]
Edited by: Thulem on 01/10/2009 18:25:30
Hello everybody.
Today it's payday.
Coupon payments have been arranged as follows:
Ashleelolz (4) - 2.000.000.000 ISK - 100.000.000 ISK Camwor (1) - 500.000.000 ISK - 25.000.000 ISK Miyahon (1) - 500.000.000 ISK - 25.000.000 ISK Miyuki Suzumiya (4) - 2.000.000.000 ISK - 100.000.000 ISK Norah Sin (2) - 1.000.000.000 ISK - 50.000.000 ISK Promethian child (1) - 500.000.000 ISK - 25.000.000 ISK Sgt Nightsky (1) - 500.000.000 ISK - 25.000.000 ISK Tsang Chou (1) - 500.000.000 ISK - 25.000.000 ISK Unity Love (4) - 2.000.000.000 ISK - 100.000.000 ISK Varnik (1) - 500.000.000 ISK - 25.000.000 ISK
Total interest payment: 500.000.000 ISK
All investors have been informed separately by eve-mail.
Thank you all for your support! 
Status has been updated. Please check it for latest news.
I plan to increase the size of the bond in December 09, but this also depends on how well the market is going to accept the 4% coupon rate. If I see that the market's demand is not sufficient, there is no use to increase the bond's size of course. Time will tell, as I expect unsatisfied investors to request refunds of their money within the next couple of days. --- Thulem can cut onions without crying! |

Sgt Nightsky
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Posted - 2009.10.01 20:09:00 -
[65]
Confirming receipt of interest.
Thanks a lot Thulem, happy continuation.
Regards, Sgt Nightsky
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Promethian child
Amarr 0utbreak
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Posted - 2009.10.03 19:47:00 -
[66]
Confirming i received payment
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Thulem
Milestone Institute of Technology
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Posted - 2009.10.11 18:55:00 -
[67]
Status Info:
Today Sgt Nightsky told me that he would like his money (1 bond - 500m ISK) refunded on 2nd November 2009. For easier management of the bond I will refund that money earlier - on 1st November.
This bond will be sold again at the end of October. As previously said I will favor current investors if any of them is interested. I will announce when I will be accepting money transfers again. Until then please do not send me any ISK or requests for reservation.
Thank you! |

Thulem
Milestone Institute of Technology
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Posted - 2009.10.18 22:48:00 -
[68]
It's time for some news again.
Today I managed to acquire a new T2 BPO. It's the Hornet II BPO that was on auction ingame for the last couple of days/weeks. The Hornet II market is pretty much down right now, but I expect it to recover within the next couple of months.
T2 business as a whole is quite stable these days. Some market manipulation here and there but nothing special. I am satisfied with the prices last period and I am looking forward to another good month of business.
With 2 new BPO acquisitions in such a short amount of time I could really need some new cash. But I will stick to the plan. I will issue 20 new bonds (10b ISK) 1st December 2009 with a coupon of 4% as announced before. Current investors will be favored again as usual. The schedule for the advance sale will be announced mid of November. Until then please do not send any ISK or requests for reservation!
The Status has been updated.
Thanks to all of my investors again for your support!  |

Thulem
Milestone Institute of Technology
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Posted - 2009.10.27 21:32:00 -
[69]
Status info:
Today Varnik requested a refund of his investment (1 bond - 500m ISK) on 1st December. This bond will be sold again at the end of November together with the newly issued bonds.
Information on pre-selling:
There are 2 bonds for sale in the next days. Procedure will be as follows:
Bonds will be sold on a first come first served basis. No reservations.
29.10.2009, 00:00 EVE Time - 31.10.2009, 23:59:59 EVE Time: time frame for existing investors
30.10.2009, 00:00 EVE Time - 31.10.2009, 23:59:59 EVE Time: time frame for new investors
If you would like to buy a bond, please send the money directly to Thulem as usual. All incoming ISK will be confirmed. If I receive payments for more than the amount of bonds available, the ISK will be returned within 24 hours. Payments made outside the above-mentioned time-frames will be refunded.
Existing investors who qualify for purchasing these bonds will be notified separately by EVE-mail, unless they already requested a refund of their investment. --- Thulem can cut onions without crying! |

Thulem
Milestone Institute of Technology
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Posted - 2009.10.29 19:46:00 -
[70]
Today I received 1.000.000.000 ISK from Unity Love. As she already invested the maximum of 2.000.000.000 ISK (4 bonds), I had to refund the ISK.
Among my current investors are eligible for purchasing the bonds:
Camwor Norah Sin Promethian child Tsang Chou
They have already been informed.
No bonds have been sold yet, so there are still 2 bonds available.
After today new investors will get their chance. --- Thulem can cut onions without crying! |

Treekle
The New Empire
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Posted - 2009.10.29 20:08:00 -
[71]
I would like to reserve the two bonds if no one else takes them.
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Hexxx
Minmatar
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Posted - 2009.10.29 21:37:00 -
[72]
This is neither debt nor equity. I recognize that perpetual bonds do exist, but they are the bastard child of financial instruments.
You could have done very much the same by selling stock and retaining 51% for yourself. Of course then you'd be asked to actually report your financials.
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Thulem
Milestone Institute of Technology
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Posted - 2009.10.29 22:00:00 -
[73]
Thank you for your interest, Treekle.
Please note that I do not take reservations (see post 69). If you would like to buy one or both bonds, please be the first to send the money to Thulem after 23:59:59 Eve Time today. |

Hexxx
Minmatar
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Posted - 2009.10.29 23:05:00 -
[74]
I read through it again and what you're doing here isn't really a Bond.
- recognizing "deposits" as liabilities which are paid interest - preventing any single investor from having too much capital in you to prevent a "run" should all investors decide to "withdraw" from the Ban...er, "Bond"
Take away the terms, and the way you're conducting this operation looks, sounds, and feels alot like a small private bank. The customers/investors can't sell their "Accounts" to anyone else either.
I think you've got a good thing going, but I certainly don't like the mix-up in terms. Just call a spade a spade and be done with it instead of misrepresenting what you're doing under the label of a "Bond".
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Treekle
The New Empire
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Posted - 2009.10.30 01:44:00 -
[75]
Isk sent for the 2 bonds. Thanks.
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Thulem
Milestone Institute of Technology
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Posted - 2009.10.30 18:02:00 -
[76]
I confirm receipt of 1.000.000.000 ISK from Treekle for the 2 bonds.
Thanks a lot, Treekle! 
As both bonds have been sold now, please do not send any more ISK!
Next chance for interested investors will be the end of November, when about 21 bonds will be for sale again. |

Hexxx
Minmatar
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Posted - 2009.10.31 03:46:00 -
[77]
Originally by: Thulem
First of all, please keep in mind people, that I do not want this thread to become a discussion thread.
Is this thread in the right forum? Which thread is the discussion thread? Is there a discussion thread?
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Thulem
Milestone Institute of Technology
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Posted - 2009.10.31 15:55:00 -
[78]
Hexxx: "Which thread is the discussion thread? Is there a discussion thread?"
There is no "discussion thread", because I am not interested in discussing my idea(s). You are welcome to ask questions regarding my bond and they will be answered, but I won't discuss different opinions. If you don't like my idea, my business or the investment, please just leave it.
You gave your opinion and that is fine, but don't expect me to discuss it with you. If you feel the need to discuss your opinion with others, please make another thread.
Thank you!  |

Hexxx
Minmatar
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Posted - 2009.10.31 16:10:00 -
[79]
Originally by: Thulem Hexxx: "Which thread is the discussion thread? Is there a discussion thread?"
There is no "discussion thread", because I am not interested in discussing my idea(s). You are welcome to ask questions regarding my bond and they will be answered, but I won't discuss different opinions. If you don't like my idea, my business or the investment, please just leave it.
You gave your opinion and that is fine, but don't expect me to discuss it with you. If you feel the need to discuss your opinion with others, please make another thread.
Thank you! 
Thulem,
Thank you for the clarification. I respect the fact if you do or don't want to discuss it (and that's fine) but if you don't want to discuss than I'm not sure this thread belongs in this forum - Market Discussions.
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Thulem
Milestone Institute of Technology
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Posted - 2009.11.01 16:25:00 -
[80]
Hello everybody.
Today it's payday again.
Coupon payments have been arranged as follows:
Ashleelolz (4) - 2.000.000.000 ISK - 100.000.000 ISK Camwor (1) - 500.000.000 ISK - 25.000.000 ISK Miyahon (1) - 500.000.000 ISK - 25.000.000 ISK Miyuki Suzumiya (4) - 2.000.000.000 ISK - 100.000.000 ISK Norah Sin (2) - 1.000.000.000 ISK - 50.000.000 ISK Promethian child (1) - 500.000.000 ISK - 25.000.000 ISK Sgt Nightsky (1) - 500.000.000 ISK - 25.000.000 ISK Tsang Chou (1) - 500.000.000 ISK - 25.000.000 ISK Unity Love (4) - 2.000.000.000 ISK - 100.000.000 ISK Varnik (1) - 500.000.000 ISK - 25.000.000 ISK
Total interest payment: 500.000.000 ISK
In addition the following refunds have been effected on request:
Miyahon (1) - 500.000.000 ISK (100% of investment) Sgt Nightsky (1) - 500.000.000 ISK (100% of investment)
Total refunds: 1.000.000.000 ISK
All investors have been informed separately by eve-mail.
Status and list of investors have been updated. Please check them for latest news. Topic description of the thread and the bond's details in the original post have been updated to correctly show the new coupon of 4%.
Thank you all again for your support!  |

Sgt Nightsky
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Posted - 2009.11.02 08:43:00 -
[81]
Confirming receipt of interest and invested capital.
Thulem, it was a pleasure doing business with you. Your precise but friendly manner of communication was exactly what I was looking for. Open to questions, accurate answers. Have a cookie for that In addition to this, punctual payments were made.
Good luck in your future ventures. I am sure we'll meet again.
Kind regards, Sgt Nightsky
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Thulem
Milestone Institute of Technology
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Posted - 2009.11.15 16:24:00 -
[82]
Thank you very much Nightsky. I look forward to seeing you among my investors soon again. 
Here is some information for you how the business was last period. In short: above avarage! T2 business was really good as module prices increased heavily for some days and I managed to sell a lot of my goods at that time, thus raising turnover for the last period before BPC sales to approx. 9.5b ISK. Hornet IIs did not yet contribute.
However the following period seems not that promising as prices decreased again to a somewhat usual level. Turnover is expected to be approx. 9.0b ISK before BPC sales including first Hornet II sales. With pleasure I noticed that CCP plans to cut mothership production costs by 40% which will largely increase the number of MSes used and lost thus supporting my drones sales in the mid future.
Life is good.
Now some organisation for the coming bond issue:
At first I distanced myself from another reservation procedure as my experiences with the initial issue were not satisfying due to several canceled reservations partly even without any notice. I do not treat you like that and I don't want to be treated like that. However I was informed by one of my investors that he would have liked to buy one of the bonds that were for sale at the end of last month, but didn't manage to get the needed ISK together in time. Now as I value my investors I decided to allow reservations again, but with a small deposit required.
In addition due to increased turnover and profit I decided to increase the limit of bonds owned by a single investor to 5 (formerly 4) as untimely christmas present for Unity Love and others who might want to increase their investment in this bond.
Details:
- there are 21 bonds (20 new, 1 resale) at 500m ISK each for sale for December
- you can reserve/hold up to 5 bonds total
- reservations are accepted from now on until the end of 25th November 2009
- every single bond reservation requires a deposit of 10m ISK to be transfered directly to Thulem in advance (e.g. 1 bond - 10m ISK; 5 bonds - 50m ISK)
- deposits for reservations are considered a part of the bond price, but will be regarded as donations if the reservation is canceled with or without notice (only reserve, if you really want to buy and can afford it!)
- all reservations by existing investors will be favored before any reservation from a new investor
- valid reservations have to be paid (490m ISK each) between 26th and 28th November 2009, 23:59:59 Eve Time. Payments received later will be refunded, deposit for reservation(s) will be deducted
- reservations will be served in chronological order (excluded current investors) depending on the date of receipt of the deposit
- current status of the reservation process can be seen in the "Status" section on page 1, post #3
- if you have made the required deposit of multiples of 10m ISK and your char's name is still not on the reservations-list 24 hours later, please contact me
If you have any questions, please let me know.
All investors will be informed separately by eve-mail, unless they already requested a refund of their investment.
Status has been updated. Please check it for latest news. The topic description of the thread and the bond's details in the original post have been updated to correctly show the bond's new size of 20b (40x 0.5b) ISK and the raised limit of 5 (formerly 4) bonds per holder.
I'd like to thank all my investors again for their trust and support. Thank you people!  |

Miyuki Suzumiya
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Posted - 2009.11.16 12:17:00 -
[83]
1 bond reserved. 10M isk sent. Cheers Thulem.
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Thulem
Milestone Institute of Technology
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Posted - 2009.11.16 20:18:00 -
[84]
Reservation confirmed, Miyuki Suzumiya. Thank you a lot! 
Status updated.
20 bonds still available. |

Darumbar
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Posted - 2009.11.16 21:47:00 -
[85]
10Mill isk sent to you to reserve 1 Bond .
Thanks
Dar
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Thulem
Milestone Institute of Technology
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Posted - 2009.11.17 19:46:00 -
[86]
Deposit for 1 Bond received, Darumbar. Thanks! 
Status updated.
19 bonds left. |

Valadeya uthanaras
GK inc. Panda Team
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Posted - 2009.11.18 16:37:00 -
[87]
Will take 4 bond of for 2 billions
will send reservation money when I get online tonight
Valadeya
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Thulem
Milestone Institute of Technology
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Posted - 2009.11.18 21:56:00 -
[88]
Thanks for your reservation, Valadeya uthanaras. Deposit for 4 bonds received.
Status updated.
15 bonds left. |

Lecherito
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Posted - 2009.11.19 22:01:00 -
[89]
Something doesn't smell right here.
-L
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Thulem
Milestone Institute of Technology
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Posted - 2009.11.20 18:59:00 -
[90]
Reservation period ends in 5 days on 25th November, 23:59:59 Eve Time. After this unreserved bonds will be sold directly on a first-come-first-served basis until 30th November, 23:59:59 Eve Time. Still unsold bonds will then be offered again to the public at the end of December for January.
Thank you all for your interest! |
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