| Pages: 1 2 3 :: [one page] |
|
|
| Author |
Thread Statistics | Show CCP posts - 0 post(s) |
Dethmourne Silvermane
Gallente
SRS Industries
SRS.
   |
Posted - 2009.12.30 20:50:00 -
[1]
Edited by: Dethmourne Silvermane on 30/12/2009 20:53:51
Silvermane Enterprises (SMANE) 5B Bond Offering
ò Chapter 1 - Summary of SMANE
ò Chapter 2 - Background
ò Chapter 3 - Corporate Governance
ò Chapter 4 - The Business Plan
ò Chapter 5 - Statement of Assets
ò Chapter 6 - Full Disclosure of Risks
ò Chapter 7 - Full Disclosure of Main and Alts
ò Chapter 8 - Exit Strategy
ò Chapter 9 - Interest Schedule
ò Chapter 10 - FAQ
Chapter 1 - Summary of SMANE
Silvermane Enterprises is a corporation I started primarily to provide a 0% tax shelter for my trading alts. I primarily deal with market and contract trading, with a sideline business in insurance fraud.
Chapter 2 - Background
This business is strictly run by myself, and contains no other players. The current member list is Alicia Silvermane (CEO - my trade alt), and will be expanded to also contain Elune Silvermane (who will be used for insurance fraud and to move any necessary ships, as I complete training for them).
I have previously run a bond - http://www.eve-search.com/thread/1217945 - this bond was successful; however, as I had changed my business plan significantly, I felt that I should pay off my investors early rather than subject them to the whims of a change in direction in my plans. For this bond, the ISK will be used for general trading in addition to insurance fraud, providing me more leeway and the opportunity to capitalize on whatever may be most profitable at the time without concerning myself with changing investor expectations.
Chapter 3 - Corporate Governance
This corporation is run as a sole proprietorship - my alt is CEO and controls 100% of the shares. As there are no characters outside of mine who are in corporation, there is no concern that another person will be granted wallet access and run off with any funds.
Chapter 4 - The Business Plan
My plan is to primarily trade in some market segments that I've identified from experience as being medium-turnover, medium-margin items in multiple hubs. I will be arranging to place jump clones for my main trade alt in a number of hubs (using Estele Arador's excellent and free JC service) to minimize the amount of out-of-station travel required. I also have a number of small blueprints that produce a minimal-to-moderate proit when used in manufacture; I will take advantage of these as a sideline income source. In addition, I will be investing highly in insurance fraud, as I have made agreements with a number of battleship producers to purchase ships from them at signficantly below the self-destruct value. To further capitalize on insurance fraud, I offer a service to sell mocked-up killmails at the price of modules+5m (plus ship cost when appropriate) - I make a small but non-negligible income off of this service, though for obvious reasons I cannot disclose those who have purchased said service.
Chapter 5 - Statement of Assets
I currently own very little as I am focusing primarily on maximizing my ability to invest my own ISK in this venture - I own a Rattlesnake fit for running L4 missions, and a Corpus X-type Armor EM hardener which is currently for sale on the contract market. I also own a Dominix which is currently fit for wormhole operations - I will be dismantling and selling the dominix in favor of minimizing risk during this venture.
I will also point out that I currently owe a private investor 2 billion ISK (at 0% interest) due to a failed investment scenario undertaken during my time in Stain (another reason that I am keeping my current projects solely in high-security space). I also owe another private investor a 1 billion ISK coupon at 5% per month with no set end date. That 1 billion ISK coupon was for battleship suicides, which I am currently doing and profiting at; however, I continue to find more potential profit marred by my inability to take advantage of deals based on my insufficient wallet.
Killmail Sales
Ship Purchase Program |
Dethmourne Silvermane
Gallente
SRS Industries
SRS.
|
Posted - 2009.12.30 20:52:00 -
[2]
Chapter 6 - Full Disclosure of Risks
Risk #1: That this is a scam.
- Obviously, regardless of what I say, the possibility that this is a scam exists. However, I feel that my posting history, along with the relatively moderate size requested, should mitigate the risk of scam. I feel that my reputation on EVE is my most valuable asset, and I don't see any reason to sell it at any price. I consider every bond and loan I take to be a "renting out" of that reputation, and I feel that successful completion of my end of a deal gives me back the most valuable thing I own.
Risk #2: That the business fails to realize a profit.
- I find this particular risk highly unlikely, as I know enough battleship producers who also mine their own minerals that, failing a significant change in how insurance is calculated, I could at worst profit solely off insurance fraud. I also do very little dealing in high-risk items (e.g. Technetium), preferring to deal in somewhat less profitable, but exceptionally lower risk items, e.g. certain ammunition. However, in this event, I will fall back on level 4 missions, which are effectively guaranteed income.
Risk #3: That I get hit by a bus or otherwise become unable to play for a long period of time.
- In this scenario, my little brother (IRL) will log in with my characters and liquidate everything, then sell off characters as needed to bring the ISK pool up enough to at least cover the original bond issue. He will sell the characters based on starting date, reducing my character pool first by auctioning Elune Silvermane should she be marketable at that time, followed by Alicia Silvermane, and resorting to selling Dethmourne Silvermane (my main) only should this become absolutely necessary. Should both myself and my brother become unable to log in, I will contact Ji Sama (if possible) with my account details and request that Ji liquidate the accounts as necessary; I have alternate communication options (outside of EVE) with which to contact Ji.
Chapter 7 - Full Disclosure of Main and Alts
My main is Dethmourne Silvermane. He is a 2 year old character, and I encourage you to do your own research on my posts within the forum and my corporate history. In fact, do this before you buy any bonds at all. It's a good habit to get into if you're a first time investor. I'll be using Alicia Silvermane as the "face" of my company because Dethmourne as a rule is my "play the game" alt, not my "make money" alt, and he does less-profitable things such as low-class wormholes and L4 missions in extremely overtanked ships.
My alts are the following:
Dethmourne Silvermane (Combat alt)
Alicia Silvermane (CEo/Trade/Manufacture alt)
Elune Silvermane (Insurance Fraud alt)
Chapter 8 - Exit Strategy
If the business completely fails to realize a profit, I will liquidate Elune and Alicia, and focus on L4 missions with Dethmourne. Without the need to provide for multiple accounts' worth of gametime, I can afford to pay for what would then be a single account with real life funds as opposed to plex, further speeding my ability to pay back the ISK. I will continue to pay interest on the bonds in a scenario where it is unrealistic to pay them back in their entirety until such time as they can be paid back, prioritizing them according to bond grade (see Chapter 9).
Killmail Sales
Ship Purchase Program |
Dethmourne Silvermane
Gallente
SRS Industries
SRS.
|
Posted - 2009.12.30 20:52:00 -
[3]
Edited by: Dethmourne Silvermane on 30/12/2009 20:58:40
Chapter 9 - Interest Schedule
There will be 3 classes of bonds available for this project.
Class A bonds are for investors who want the ability to pull out on relatively short notice. They will pay 5% interest per month, and are redeemable for full face value with 1 week's notice. Note that if you pull out mid-month, you will not receive any interest for the month.
Class B bonds are for investors who want more interest and are not as interested in immediate recovery of the original principal. They will pay 6% interest per month, and are redeemable for full face value on the 1st of each month (which is also when interest is paid), with at least 1 week's notice (note that Class A bonds will be redeemed asap after notice provided, whereas Class B bonds will only be redeemed upon interest payment date).
Class C bonds are an indefinite-term loan, offering the greatest interest rate but no call option; these will be repaid in full as it makes business sense to do so or within 12 months of this bond offering (whichever is soonest), again on the 1st along with that month's interest payment. Class C bonds will pay 7% interest.
All 3 classes of bonds are optionally redeemable by Silvermane Enterprises at any time, with the caveat that Class A bonds must be redeemed before Class B bonds, and Class B bonds redeemed before Class C bonds. Should Silvermane Enterprises redeem your bond, you will receive that month's associated interest payment.
All bonds are 100m each; there is no limit to the number of bonds you can purchase.
I will be offering bonds in the following structure:
10 Class A bonds
20 Class B bonds
20 Class C bonds
Chapter 10 - FAQ
Q: How do I know this isn't a scam?
A: Please see Chapter 6.
Q: How do you know you'll be successful?
A: I have been doing this with moderate success already; however, the early repayment of my bond combined with an admittedly whimsical desire to purchase a Rattlesnake (and the desire to avoid reselling this as I now use it as my primary mission-running boat) has left me relatively low on funding.
Q: Why are you doing this?
A: In order to make money, of course. I wouldn't run a bond if I didn't believe it would be profitable.
Q: Do you intend to have an audit done at some point?
A: VV ran an audit on my last bond - I can look into having someone run an audit on this bond as well; however, I am certain VV is currently unavailable. I could contact one of the ".01" auditors, should that be desirable.
Q: What's your background?
A: I started EVE with a character named Loktai Silvermane; he was built primarily as a miner. I tired of mining and eventually even sold the character in deference to my next character (Dethmourne Silvermane), who is a relatively well-rounded PvE/PvP/Trade character. I spent a significant portion of his life in the Systematic-Chaos alliance, where I enjoyed the fun of PvP and lost my shirt replacing expensive T2 ships. I now currently have Dethmourne in SRS. alliance, which is primarily made up of scc-lounge regulars; we do some wormhole ops but all of our primary goals are currently in high-sec space.
Q: When will you buy back the bonds?
A: Please see Chapter 9.
Q: What if someone War Decs SMANE?
A: I will create a placeholder alt to put in as CEO and remove my trade/fraud alt if necessary; however, as I primarily station trade on my trade alt and my fraud alt will primarily be self-destructing ships, this is a minor concern.
Q: When is the first bond payment?
A: 01.February.2010
Killmail Sales
Ship Purchase Program |
Dethmourne Silvermane
Gallente
SRS Industries
SRS.
|
Posted - 2009.12.30 20:53:00 -
[4]
(Reserved for reservations/further FAQ entries).
Killmail Sales
Ship Purchase Program |
Breaker77
Gallente
Reclamation Industries
|
Posted - 2009.12.30 21:05:00 -
[5]
Put me down for 1 Class B bond.
As for an audit, I would offer to do it, but I don't really feel I have the experience to do an audit for something of this size. Ji Sama perhaps?
|
Llu
|
Posted - 2009.12.30 21:07:00 -
[6]
Put me down for 1 B and one C bond please. Payment can be done today or 5th of Jan forward (no internet access between those two dates by the looks of it).
|
Marcus Baltar
|
Posted - 2009.12.30 21:07:00 -
[7]
I would like to reserve 5 (500,000,000 ISK) Class C bonds, please.
Please confirm when, and to whom I should send the ISK (which will be done when I have consumed less "festive" spirit(s)).
Thanks.
--
|
Mikael Genexi
Gallente
Product Number 3
|
Posted - 2009.12.30 21:10:00 -
[8]
I will reserve 2 Class C Bonds.
|
Magnu Stormhawk
Stormhawk Enterprises
|
Posted - 2009.12.30 21:27:00 -
[9]
Stormhawk Enterprises will take 3 Class C Bonds
|
Vasta Magna
Yarex Shipyards
|
Posted - 2009.12.30 21:34:00 -
[10]
I'll take 1 C bond please.
|
|
|
Vaerah Vahrokha
Minmatar
Brutor tribe
|
Posted - 2009.12.30 21:46:00 -
[11]
I have been contacted by Dethmourne Silvermane and sent the full API key of the new account.
ATM such API key is tied to
Elune Silvermane
Balance 6.49M
67k SP
Training learning skills at 3244k SP per hour at this moment.
-
Auditing and consulting
Before asking for investors, please read
http://tinyurl.com/n5ys4h and
http://tinyurl.com/lrg4oz
|
spice route
|
Posted - 2009.12.30 22:28:00 -
[12]
Pending any further audit results, I'll take two C's, two B's, and one A. Total of 500m.
|
Vaerah Vahrokha
Minmatar
Brutor tribe
|
Posted - 2009.12.30 22:47:00 -
[13]
 Originally by: spice route
Pending any further audit results, I'll take two C's, two B's, and one A. Total of 500m.
I have not been contacted for auditing, the above excerpt is a free "courtesy of mine" plus availability of Dethmourne to send me these details, that's all.
-
Auditing and consulting
Before asking for investors, please read
http://tinyurl.com/n5ys4h and
http://tinyurl.com/lrg4oz
|
Dethmourne Silvermane
Gallente
SRS Industries
SRS.
|
Posted - 2009.12.30 22:52:00 -
[14]
I will be more than happy to offer an audit; there are the audit results in my previous bond - Linkage - but if another audit is required for any additional info I'd love to contract VV to do so. I wasn't certain what additional information would be requested.
---------------------------------
Ship Purchase Program
Killmail Service discontinued by request. |
spice route
|
Posted - 2009.12.30 23:10:00 -
[15]
Often a "bringdown audit" to update any info that might have changed since the last audit. IE background wouldn't change. Re-review of logs, connections, basic soundness of strategy, etc. might be helpful. Basically a "still clean, still making sense."
As an added bonus, a string of repeated clean bringdown audits should lower his borrowing costs over time.
|
sexywalrus
|
Posted - 2009.12.31 00:32:00 -
[16]
1 Class C bond please.
|
InUrJita CheckinUrPrice
|
Posted - 2009.12.31 01:11:00 -
[17]
I'll put in for a B.
|
Taram Caldar
Noir.
Noir. Mercenary Group
|
Posted - 2009.12.31 04:23:00 -
[18]
Edited by: Taram Caldar on 31/12/2009 04:24:10
5 class B bonds please.
Want a sig made? Contact me in game. Click my sig to see samples |
Kapila Parthalan
|
Posted - 2009.12.31 04:48:00 -
[19]
I would like to reserve the remaining 5 class C bonds, pending satisfactory audit, etc.
|
Dethmourne Silvermane
Gallente
SRS Industries
SRS.
|
Posted - 2009.12.31 06:35:00 -
[20]
Please note the updated info on buying C class bonds now that I am out of the intial expected demand (new info found right below reservation list). As per audit, I have evemailed VV requesting that if she has time, I get reaudited. If VV is unavailable I will contact Ji Sama; should Ji be unavailable I will begin down the list of .01 investors until such time as an auditor is found.
---------------------------------
Ship Purchase Program
Killmail Service discontinued by request. |
|
|
Martosh Toma
Gallente
Fraction Investment
|
Posted - 2009.12.31 09:22:00 -
[21]
Sorry I am low on luquid isk currently or i'd have reserved more.
I'd like to reserve 2 class c bonds as per your bond conversion option (you can pick if it replaces a or b bonds)
|
Julius Rigel
|
Posted - 2009.12.31 11:40:00 -
[22]
No haiku you say?
This is unacceptable!
Give me one B bond.
|
Jadun
|
Posted - 2009.12.31 16:22:00 -
[23]
yo ho
i would like to invest isk into 5 C-bonds if possible. otherwise i would like 5 B-bonds.
not sure which char should get the isk. please gime some info on that.
jadun
|
Dethmourne Silvermane
Gallente
SRS Industries
SRS.
|
Posted - 2010.01.01 06:51:00 -
[24]
Bumping because I still need investment...
Also an update, got in touch with VV and an updated audit is being performed. I don't know how exhaustive, comparatively, this one will be with the first one, but I have full faith in VV's ability to perform an audit that will adequately fulfill the wants of potential and current investors.
---------------------------------
Ship Purchase Program
Killmail Service discontinued by request. |
Erialor Godsent
Gallente
Federal Navy Support Divison
|
Posted - 2010.01.01 12:23:00 -
[25]
Sign me up for 5 Class B bonds please...
--
|
Vaerah Vahrokha
Minmatar
Brutor tribe
|
Posted - 2010.01.01 12:54:00 -
[26]
I tried multiple times to contact Dethmourne for further clarifications (I need details about methodology and viability of his ideas) but all I get is this:
-
Auditing and consulting
Before asking for investors, please read
http://tinyurl.com/n5ys4h and
http://tinyurl.com/lrg4oz
|
flakeys
T.H.U.G L.I.F.E
The Volition Cult
|
Posted - 2010.01.01 16:07:00 -
[27]
I had the same when i made a contract for his previous offer's collateral back .
You can allways find him in SCC channel.
|
Nakk
|
Posted - 2010.01.01 20:49:00 -
[28]
Edited by: Nakk on 01/01/2010 20:49:10
I'll take 3 Class B Bonds please.
|
Karn T'cren
|
Posted - 2010.01.02 01:37:00 -
[29]
Sign me up for 1 class B bond. |
Dethmourne Silvermane
Gallente
SRS Industries
SRS.
|
Posted - 2010.01.02 04:02:00 -
[30]
VV I apologize - I had autoreject on and I didn't readd you after my last addybook clearing.
Issue should be resolved.
---------------------------------
Ship Purchase Program
Killmail Service discontinued by request. |
|
|
Marcus Baltar
|
Posted - 2010.01.02 13:22:00 -
[31]
Originally by: Marcus Baltar
I would like to reserve 5 (500,000,000 ISK) Class C bonds, please.
Please confirm when, and to whom I should send the ISK (which will be done when I have consumed less "festive" spirit(s)).
Thanks.
500,000,000 ISK sent 2010.01.02 13:20 to Dethmourne Silvermane.
Thanks.
--
|
siNuskuRve
|
Posted - 2010.01.02 18:33:00 -
[32]
I will take the last two bonds, converted to Class C please.
I would take at least another three, if you were planning on extending the offering...
Sending 200 million isk to Dethmourne now!
Thanks!
Sin
|
Rolland Gundar
|
Posted - 2010.01.02 21:58:00 -
[33]
You can put me down for 5 class Bs if you have space still. I can make payment today.
|
Taram Caldar
Noir.
Noir. Mercenary Group
|
Posted - 2010.01.02 22:37:00 -
[34]
Confirming I still would like 5 Class B but am awaiting VV's updated Audit before sending Isk.
Want a sig made? Contact me in game. Click my sig to see samples |
Dethmourne Silvermane
Gallente
SRS Industries
SRS.
|
Posted - 2010.01.03 02:50:00 -
[35]
Rolland, I apologize - all bonds are currently out. I don't wish to add additional bonds at this time as I don't have a business model that I feel expands greatly beyond the point of the isk already reserved. I do appreciate your interest however.
Also, I am looking forward to VV's update as much as you are Taram :)
---------------------------------
Ship Purchase Program
Killmail Service discontinued by request. |
Vaerah Vahrokha
Minmatar
Brutor tribe
|
Posted - 2010.01.03 22:42:00 -
[36]
Audit report for this business proposal
This is Vaerah Vahroka's analysis as of 2010-01-03 19:20 EvE Time.
Tools used
EvEMon
jEveAssets
EMMA
EvEMeep
EvE Asset Manager
Forewords
Dethmourne Silvermane is a former 0.0 player now dealing with high sec trading and general business operations.
Due to a series of factors (purchase of a missioning ship, misadventures in 0.0 sec, loans) he finds himself low on liquidity, exactly in the moment he'd found out some expansion perspectives.
As such he is seeking for public funding both to refinance current debt and to overcome the partial returns erosion. This erosion is due to his current expansion being based on borrowed and limited funds.
Since not all the readers are interested in a fully featured study, a short version of the audit has been provided.
Short version
Considerations
The Investee proposes a series of 3 bond solutions with low to middle interest, aimed at raising capital to support an expansion of his trading and "insurance fraud" activities.
The Investee, basing on his former bond outcome and procedures, decided not to provide collateral for this venture.
The Investee, understandably, has declined on divulging the details about his trading strategy.
Due to the trading strategy, the Investee does not need to move goods around, reducing the risk of loss.
Red Flag: the Investee provides for no collateral.
Yellow flag: part of the business strategy involves insurance fraud, a game mechanic that could change or have its effects changed with no prior notice and any time. In that case a pessimistic scenario will be engaged, where Dethmourne has to earn enough income to pay for interests for over a year.
Yellow flag: The above reason also forbids further continuing of the "mocked up killmail" service, defined as a "small but non-negligible income service".
Cautionary / yellow flag: an exit strategy has been provided, but the exact terms of the liquidation (including values and other concurrent liabilities treatment) are vague at best. Moreover neither the exit strategy executor may prove his ability or will to perform what's needed (which is quite "normal"), nor Ji Sama confirmed his factual agreement to the deal.
Cautionary / yellow flag (technically yellow, in practice it's not a real obstacle): Dethmourne's alt is still 20 days away from being able to perform the insurance fraud operations. Dethmourne's main is able to do that, now in a way that won't hurt his corporation's killboard.
Green flag: the Auditor has reviewed the investee's skills and current assets. They look in line to the claims and compatible with the trading profession.
Green flag: the Investee arranged for an audit.
Green flag: the Investee submitted himself to answer to a series of questions.
Green flag: the Investee does not own a freighter but due to his business strategy, he does not need to move anything, so danger of loss to suicide ganks is low.
Green flag: the Investee is quite experienced at PvP and thus even in case he'd have to move stuff, he'd have the basics on how to survive.
Green flag: the Investee proved to be able and keep an above 3-4B NAV in the last months. The request is for a very manageable amount compared to that.
Green flag: at the (unannounced) moment of assets API data download, Dethmourne has been found with a respectable number of unfitted battleships and a rather large number of battleships BPCs. During the audit the amount of battleships decreased, the wallet increased.
Conclusions
Due to lack of collateral, current liabilities, the unpredictable possibility of insurance mechanics changes and the profession involved, the Auditor classifies this investment as high risk regarding bonds of A and B type and very high risk for bonds of C type.
Notice: high or very high risk does not necessarily mean *bad* business.
(To be continued...)
-
Auditing and consulting
Before asking for investors, please read
http://tinyurl.com/n5ys4h and
http://tinyurl.com/lrg4oz
|
Vaerah Vahrokha
Minmatar
Brutor tribe
|
Posted - 2010.01.03 22:46:00 -
[37]
In particular, the existance of current liabilities puts at greater danger the ability and priority to recover money in case something goes bad.
As for the single options, bonds option A looks like quite not really a best deal due to the very low rate of interest (really only good for those who can't live without zero day call option).
Option B is probably where the proposed interest meets the current market value due to the monthly payment and call option.
Option C could possibly harm Dethmourne income in case insurance fraud would get negatively changed. For those trusting the Investee ability, though, it's like a nice 7% "passive savings bank account" and this could explain the popularity of the option.
The Investee seems competent (skills wise and player wise) enough to deliver on his statements. This exclusively regards Dethmourne and the trading alt (skills have been covered in the past audit already), while the new alt has currently no useful skill for the task yet. The Auditor cannot grant about the alt future.
No fundamental flaw has been found in his (or his alts) past recorded deaths and forum posts. He sold two characters in the past, though they are not involved with trading.
Basically, the Investee looks like with the ability to successfully honor the bond. Notice how an audit can only evaluate the ability or potential of an Investee to succesfully honor a bond.
The Auditor suggest the Investors NOT to invest their full capital on this venture but to offer what they could eventually afford to lose, expecially on option C.
The most realistic risk of defaults are, in decreasing order of probability: insurance fraud being changed for Dethmourne's worse, Investee scamming, default with no collateral to back anything up.
Full version
Generalities
Main trading character for this proposal are Dethmourne Silvermane's trading and suicide battleships alts, both located on a dedicated accounts.
The Investee is training the battleship alt at the moment of this writing. The alt would take about 20 days before being able to perform his task.
He basically got his main trading alt and a PvE / PvP character with trading skills (some to level IV) and a new alt only used to blow ships.
The Investee only got those three characters on three accounts, no easily spotted track of dubious other alts has been found.
The main trading character is an August 2009 one and has the required trading skills, for a total of about 6.2M SP.
The character is heavily tuned for trading (all the current skills at least to level IV or V) and contracting. He got little non merchantile skills except for a quite strong training in T1 production and refining.
The main character stated to be the one performing the insurance operations till the dedicated alt is ready is Dethmourne Silvermane.
He is a Jan 2008 character, with 32.3M SP. As stated in the previous audit, he is an hybrid who got good ship command skills for multiple races, some trading, some missioning, some mining, some industry, good leadership, some science and exploration.
In particular he got:
- Amarr Battleships to III
- Caldari Battleships to III
- Gallente Battleships to IV
At the moment he's training for Minmatar ships, but he's not ready for them yet. They are not really the best deal for insurance fraud anyway, due to they tendency to have higher prices.
The character posted several times on the forums, both with main and alts, mostly about his former investments (One Stop Mining Shop, Titans 4 U) and general MD discussions.
The character got standings with several Empire corporations.
The last character, Elune, is a freshly made character with 359k SP, currently being trained to take advantage of the most profitable Battleship's race.
(To be continued...)
-
Auditing and consulting
Before asking for investors, please read
http://tinyurl.com/n5ys4h and
http://tinyurl.com/lrg4oz
|
Vaerah Vahrokha
Minmatar
Brutor tribe
|
Posted - 2010.01.03 22:50:00 -
[38]
Involvement in other business
The Investee invested and then backed off Bad Bobby's Titans 4 U, he also participated and concluded in a bond for One Stop Mining Shop.
The Investee owes 2B at 0% interest to one investor and 1B at 5% (unlimited duration) to previous ventures.
Business Plan Analysis
The Investee sent the Auditor some informations about how and how much he should make with his activities.
Expecially for C type bonds, there are two possible scenarios to analyze:
1) Nothing changes in the current insurance mechanics.
In this case, with the given numbers, the interests would be easily paid back for all the solutions with a rather low effort.
2) Insurance mechanics change for the worse (for those in "insurance fraud").
a) This might happen because insurance is suppressed. This is very unlikely as insurance is a very important foundation of the game, please refer to past Akita T's and my posts for full details.
b) Insurance payouts could be made less profitable, but this is unlikely as well because this would render insurance obsolete and begin a rather severe fall in mineral and ship prices, with repercussions on BPO and BPC markets as well. At the same time it would cause what's stated at point c). It's still possible that the venture will turn less profitable anyway, because of more and more pilots jumping on the "insurance fraud wagon".
c) Insurance payouts could be revoked for self destruction (or even suicide ganking). This is another possible scenario but the Auditor feels it is not going to happen because insurance exists to expel the actual excess minerals off the game not (just) to control money consequences.
If in any instance the insurance would cease to be appetible or widely used, its main objective of expelling minerals off the game would fail, with great negative consequences for the game economy.
d) The game could get an undisclosed, new mechanic to push ship prices up or to compound insurance so that it becomes possible to reduce its payout in case of suicide ganking or self destruction. This would probably not happen for the next 6 months. In this case the pregress income should cover a year of C type bonds and the venture could probably close down but in the positive.
e) CCP decides that RMT has been disrupted enough and turns asteroids daily respawn off again, with no prior notice. This is the most dangerous scenario, because with the increased price of exhumers (read: lower numbers of them enter the game to refill their natural turnover), a possible rekindling of RMT, increased player base and now rarer asteroids, the insurance fraud would quickly lose viability, possibly to a worse status of pre-"Holy Rage" times.
In this case, C type bonds are at risk of eating a lot of revenue.
The factors above push the Auditor into classifying this business as high risk for A and B type bonds, very high risk for C type bonds.
Collateral and exit strategy
There is no collateral offered for this venture.
In case of RL impediment causing a delay in dividends for 2 (two) months past the due maturity day, an appointed third party (Ji Sama) would liquidate assets and try recovering the possible.
The exact terms of the course of action are left to the decisions of the Third Party.
The Auditor will not take part in any refund, except (if asked) to check the API for Investors payment.
Net Asset Value and other balance considerations
EMMA had some issues at calculating all the values, the EvE API does not support contracts nor faction items, so a partly manual plus jEveAssets, EMMA and WalletAware estimation has been used. Results should be conservative and accurate to below 10% error.
Important notice: this NAV components are affected with very significant fluctuations between assets and wallet. In 2 hours wallet would go from 750M to 1.5B and then to 2.5B as ships were blown up.
(To be continued...)
-
Auditing and consulting
Before asking for investors, please read
http://tinyurl.com/n5ys4h and
http://tinyurl.com/lrg4oz
|
Vaerah Vahrokha
Minmatar
Brutor tribe
|
Posted - 2010.01.03 22:52:00 -
[39]
Previous investment NAV
The estimated net worth of all liabilities, solid & liquid assets is about 3.58B.
The transactions are made by both of the characters.
Assets across all of the characters and corporations are estimated to be worth 3.06B. The Auditor did not include some minor ammo BPOs.
Assets and balance
Balance
Wallet balance: 472M
Market sell-orders: 400M (this value is skipped in the NAV since they are included in the assets evaluation below).
Market escrow: 7.7M (during the weeks it floated up to 700M, average 400M)
Contracts: 43M
Investments: 0M
Total: 522.7M
Assets
POS: 0M
Fleet / ships: 998M (unfitted)
Modules: 1.46B
Misc. solid assets; minerals, salvage, ice and trade goods etc.: 48M
Blueprint copies and originals: 28M
Other: About 526M
Ordered assets under construction: 0M
Total: 3.06B
---------------------------------------
Estimated grand total: 3.58 Billion ISK
Current NAV
The estimated net worth of all liabilities, solid & liquid assets is about 5.71B.
The transactions are made by the two elder characters.
Assets across all of the characters and corporations are estimated to be worth 4.02B.
Assets and balance
Balance
Wallet balance: 1.5B
Market sell-orders: 1.5B (this value is skipped in the balance since they are included in the assets evaluation below).
Market escrow: 60M
Contracts: 130M
Investments: 0M
Total: 1.69B
Assets
POS: 0M
Fleet / ships: 3.2B (unfitted)
Modules: 471M
Misc. solid assets; minerals, salvage, ice and trade goods etc.: 13M
Blueprint copies and originals: 196M
Other: About 140M
Ordered assets under construction: 0M
Total: 4.02B
---------------------------------------
Estimated grand total: 5.71 Billion ISK
Business impressions
The business consists of two operations: blowing ships for insurance refund and trading.
The business, as long as the Investee keeps working like in the recent past, should be amply be able to repay the promised interests, as long as nothing changes in insurance mechanics nor in asteroids respawn times.
In case insurance stops being viable, Dethmourne will have to resort with exclusive trading. In that case the last bond figures have to be taken, as the Investee stopped trading in the mean time due to RL impediments.
This would make Dethmourne earn about 4% for himself over the C type bonds.
Risks
The largest risks of failure, in decreasing order, involve: insurance fraud being changed for Dethmourne's worse, Investee scamming, default with no collateral to back anything up.
Considerations
Please refer to the audit's short version for general considerations about the Investee.
Conclusions
Please refer to the audit's short version for the conclusions about the Investee.
-
Auditing and consulting
Before asking for investors, please read
http://tinyurl.com/n5ys4h and
http://tinyurl.com/lrg4oz
|
Taram Caldar
Noir.
Noir. Mercenary Group
|
Posted - 2010.01.03 23:06:00 -
[40]
Due to some RL issues that have arisen I will be unable to invest in this bond as liquid isk has had to be earmarked for GTC's this quarter.
Sorry for inconvenience.
Want a sig made? Contact me in game. Click my sig to see samples |
|
|
siNuskuRve
|
Posted - 2010.01.03 23:10:00 -
[41]
Pouncing on Taram's withdrawal, and as per my original post, I'd take at least another three bonds if there is noone ahead of me in the queue...
And great audit VV.
Thanks,
Sin
|
Dethmourne Silvermane
Gallente
SRS Industries
SRS.
|
Posted - 2010.01.04 04:56:00 -
[42]
3 bonds allocated to sinuskurve. I have contacted Rolland for the option on the remainder; then an investor who contacted me ingame. Should neither of them be interested, 2 more bonds will be available.
---------------------------------
Ship Purchase Program
Killmail Service discontinued by request. |
Simmonite
Caldari
|
Posted - 2010.01.04 06:58:00 -
[43]
Edited by: Simmonite on 04/01/2010 06:59:21
Putting my name down for 1 bond incase 1 of thoes comes free. :) I wish you luck with the Bond.
[edit:bad spelling]
|
Magnu Stormhawk
Stormhawk Enterprises
|
Posted - 2010.01.04 09:34:00 -
[44]
ISK sent.
|
Kapila Parthalan
|
Posted - 2010.01.06 02:05:00 -
[45]
Transferred 500M ISK to Dethmourne Silvermane.
|
Simmonite
Caldari
|
Posted - 2010.01.06 07:32:00 -
[46]
Confirming Isk sent for 2 Class B bonds. :)
|
Sugar Jugs
Juggalicious
|
Posted - 2010.01.28 05:56:00 -
[47]
Sorry mate, was away on holidays, just read your mail.
If you need further financing, feel free to hit me up in game by evemail is best (I afk a lot). Also, check your mail, I'll send ya some info if you're still doing BS fraud (sounds like you are a bit).
Same rate as previous is fine. :)
|
Dethmourne Silvermane
Gallente
SRS Industries
SRS.
|
Posted - 2010.01.31 17:42:00 -
[48]
February interest paid.
---------------------------------
Ship Purchase Program
Killmail Service discontinued by request. |
Erialor Godsent
Gallente
Federal Navy Support Divison
|
Posted - 2010.01.31 17:50:00 -
[49]
Recieved - thanks ;)
--
|
Magnu Stormhawk
Stormhawk Enterprises
|
Posted - 2010.01.31 19:48:00 -
[50]
Confirming interest recieved, with thanks
|
|
|
Simmonite
Caldari
Black Star Alliance
|
Posted - 2010.01.31 22:54:00 -
[51]
Posting payments recieved also Thanks :)
|
Kapila Parthalan
|
Posted - 2010.02.05 20:14:00 -
[52]
Confirming receipt of payment #1 of 7% on 2009.01.31 for my Class C Bonds.
|
Dethmourne Silvermane
Gallente
SRS Industries
SRS.
|
Posted - 2010.02.17 06:21:00 -
[53]
Paid back a few principals early. Will continue to pay principal back as sell orders empty out.
---------------------------------
Regarding high-sec mining:
Originally by: AmarrettoDiAmarr
3-4 million ISK/hr is perhaps .15 0r .20 US$/hr; not quite prison wages and you are around less honest people. |
Breaker77
Gallente
Reclamation Industries
|
Posted - 2010.02.17 15:35:00 -
[54]
Confirming receipt of 100 mil plus 6% interest for 1 class B bond.
|
InUrJita CheckinUrPrice
|
Posted - 2010.02.17 17:49:00 -
[55]
Paid out with interest. Thanks Deth, good luck with future offerings!
|
Dethmourne Silvermane
Gallente
SRS Industries
SRS.
|
Posted - 2010.02.22 06:46:00 -
[56]
2 B bonds belonging to spice route repaid. 2nd post updated to reflect as such.
---------------------------------
Regarding high-sec mining:
Originally by: AmarrettoDiAmarr
3-4 million ISK/hr is perhaps .15 0r .20 US$/hr; not quite prison wages and you are around less honest people. |
Dethmourne Silvermane
Gallente
SRS Industries
SRS.
|
Posted - 2010.02.27 10:40:00 -
[57]
interest sent.
more principal repaid.
---------------------------------
Regarding high-sec mining:
Originally by: AmarrettoDiAmarr
3-4 million ISK/hr is perhaps .15 0r .20 US$/hr; not quite prison wages and you are around less honest people. |
Erialor Godsent
Gallente
Federal Navy Support Divison
|
Posted - 2010.02.27 10:41:00 -
[58]
Interest recieved - thanks :)
--
|
Simmonite
Caldari
Black Star Alliance
|
Posted - 2010.02.28 09:23:00 -
[59]
Interest and repayment recieved :)
|
Kapila Parthalan
|
Posted - 2010.03.01 02:21:00 -
[60]
Confirming receipt of payment #2 of 7% on 2009.02.27 for my Class C Bonds.
|
|
|
Dethmourne Silvermane
Gallente
SRS Industries
SRS.
|
Posted - 2010.03.30 08:45:00 -
[61]
obligatory interest sent post.
Regarding high-sec mining:
Originally by: AmarrettoDiAmarr
3-4 million ISK/hr is perhaps .15 0r .20 US$/hr; not quite prison wages and you are around less honest people.
|
Kapila Parthalan
|
Posted - 2010.04.28 02:54:00 -
[62]
Confirming receipt of payment #3 of 8% on 2010.03.30.
Confirming receipt of payment #4 of 108%, including principal return, on 2010.04.28. Received total of 30% interest from 2010.01.06 to 2010.04.28.
I just noticed the payment from last month. Thanks for the extra interest.
|
Magnu Stormhawk
Stormhawk Enterprises
|
Posted - 2010.04.28 08:47:00 -
[63]
Confirming reciept of interest and capital repayment.
Many thanks Deth
|
siNuskuRve
|
Posted - 2010.04.28 09:05:00 -
[64]
Capital repayment and interest received.
Thanks, Deth.
|
Marcus Baltar
Savaran Zhayedan Spah
|
Posted - 2010.04.28 09:40:00 -
[65]
Originally by: Marcus Baltar
I would like to reserve 5 (500,000,000 ISK) Class C bonds, please.
All interest payments received and on time. Principal returned.
2010.04.28 540,000,000 ?!
2010.03.30 40,000,000 ?!
2010.02.27 35,000,000
2010.01.31 35,000,000
2010.01.02 -500,000,000
150,000,000 (30% ROI over 115 days, ~7.3%/month(28day)) 
Thanks.
--
|
Dethmourne Silvermane
Gallente
SRS Industries
SRS.
|
Posted - 2010.04.28 22:16:00 -
[66]
All interest for April sent; all principal repaid.
Regarding high-sec mining:
Originally by: AmarrettoDiAmarr
3-4 million ISK/hr is perhaps .15 0r .20 US$/hr; not quite prison wages and you are around less honest people.
|
|
|
| |
|
| Pages: 1 2 3 :: [one page] |