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[Bond] One Stop Buyout, 150B, Full Collateral, 4%. Taking Reservations

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Varo Jan Caravanserai Consulting	Posted - 2010.01.16 19:23:00 - [1] I have an exclusive agreement with LadyOfWrath to purchase One Stop Research, One Stop Research Alliance and One Stop Mining, including all tangible and intangible assets for 175B. The corporations involved have all been audited by Grendell, and the presence of all tangible assets has been verified. This bond offers you the opportunity to invest in an existing blue chip venture with an excellent track record. Bonds û Total Value 150B Number: 300 Face Value: Five hundred million ISK each (500m). Interest Rate: 4% monthly. Collateral: Full. Please see the Security paragraph below for details. Period: Open-ended Repurchase: There may be partial or full repurchase of these bonds. Should that happen, bonds would be repurchased at face value. Trading: You are free to trade these bonds, but all trades must be done through Grendell. All trades must be confirmed in this thread in order to ensure payment of interest to the right holder of the bonds. Priority Rights Existing One Stop investors will have priority in reserving bonds. Right of Refusal I will not accept investments from known scammers. Should an investor provide material support in future to known scammers, his bond(s) will be repurchased and offered for sale. Interest Cover The businesses currently generate profits in excess of ten billion ISK monthly. That provides adequate cover for bond interest payments. Various expansion plans are being considered which will strengthen the business and provide additional interest cover. Surplus profits will be left in the business to build up a cash reserve to cover three months interest payments. Security Grendell, LadyOfWrath and SetraDark have agreed to be trustees and to hold all shares. Grendell will be CEO of the corporations. BPOs valued at 127B will be locked down. Ji Sama is providing collateral in the form of blue chip shares valued at 25B. Those shares will be held by a trusted third party. In the event that I disappear without warning and there is no communication from me for three months, Grendell will liquidate the corporations and repay investors. In the event that interest payments are not made in full for three consecutive months, including making up previous shortfalls, Grendell will liquidate the corporations and repay investors. His liquidation fee will be 5% of the then current NAV. Should he require assistance by other trustees in the liquidation process, they will be suitably compensated. Business Operations LoW has agreed to remain on board for a period of 28 days in order to ensure a smooth transition. The business has one other member of staff who has agreed to stay on. This is not a time intensive operation, so I do not anticipate any conflicts with my existing activities. However, should any unforeseen conflicts arise, existing activities will be scaled down. I currently run nine research characters of my own (90 slots which are in constant use), so I am familiar with the processes involved in this business. Business Assets BPOs û 127B In-space assets û 16B Inventory û 5B Cash û 3B Other assets verified by audit: 4B Total 155B Grendell¦s view is that is a conservative estimate. Other assets include 6 Research characters - say 6B That leaves goodwill of a maximum of 11B against the sales price of 175B. Please note the sales price includes the website, all business contacts and methods of sales. Reporting As this is a bond, there is no requirement to publish monthly accounts. Nevertheless, in the interests of transparency, full accounts prepared in accordance with accounting standards will be issued by Magnu Stormhawk. Continued in next post.
Varo Jan Caravanserai Consulting	Posted - 2010.01.16 19:35:00 - [2] Assessment and Mitigation of Risks Note: Please bear in mind these are my personal risk assessments. Your views may vary. Theft The bond is fully collateralised by locked down BPOs and collateral provided by Ji Sama. The Board of Trustees consists of Grendell, LadyOfWrath and SetraDark. It would take collusion by two to steal BPOs. Risk assessment - Low. RL Issues or Burnout This is not a time-intensive operation, so the risks of burnout are minimal. The consequences of my disappearance have been covered elsewhere. Risk assessment û Low. Adverse Business Conditions This is an existing blue chip operation with an excellent record û not an untried startup. It is in a strong position with an excess of solid assets, and is well capable of weathering low cycles. A cash reserve will be built up to cover downturns in profitability. Existing merc contracts will be extended. LadyOfWrath has agreed to a one year non-competition clause. Risk assessment û Low. Competence I am an unknown quantity to most of you. Naturally, I would not have taken this on If I did not believe I could perform. Ji Sama, my previous CEO, has attested to my competence. Risk assessment - For you to decide. One more post to follow.
Varo Jan Caravanserai Consulting	Posted - 2010.01.16 19:37:00 - [3] Now taking reservations. Note: when the bond is filled I will ask investors to transfer cash to Grendell. Please DO NOT send cash to Grendell until I post specifically asking for transfers to be effected. Reservations tehsuxOr - 1B
Varo Jan Caravanserai Consulting	Posted - 2010.01.17 19:40:00 - [4] Originally by: cosmoray Are you issuing shares from a holding corp to cover the 150B? With 300 bonds its very difficult to effect manual payments, and bond trading and share transfer becomes down to a manual ledger. I plan to follow the same process as LOW. Investor details will be maintained on the existing website. I¦m building a spreadsheet now as reservations are made, so the calculation per se is not an issue. Assuming the spread of investments follows what we¦ve seen so far with reservations, I could end up with 60 manual transactions to be processed. Doing that once a month is not a problem for me.
Varo Jan Caravanserai Consulting	Posted - 2010.01.17 21:49:00 - [5] cosmo, RAW, AC - I¦ll reply to you in the discussion thread.
Varo Jan Caravanserai Consulting	Posted - 2010.01.18 19:34:00 - [6] Guys, I really, really, really would appreciate it if you would post any questions in the discussion thread, not a thread that was specifically opened to take reservations. No, cosmo, I cannot force you to do that, but I would appreciate it if you would do so. The discussion thread is linked in my opening post in this thread.
Varo Jan Caravanserai Consulting	Posted - 2010.01.19 22:29:00 - [7] Thanks to everyone who has posted their interest in reserving bonds so far. By my count we¦re up to 37B plus 25B unsecured from RAW23. Posts which belong in the discussion thread (linked in my opening post) have muddied the waters in here at times, but I¦m pretty sure I¦ve made a note of all reservations. If I have not, please let me know.
Varo Jan Caravanserai Consulting	Posted - 2010.01.21 13:46:00 - [8] Thanks for your reservation, Krythas. Yes, I will mail you when payment is due. DrefsabZN, I will add your reservation now, and note that it depends on approval from LoW to transfer your bonds and shares directly. Thank you very much. All other reservations have been updated.
Varo Jan Caravanserai Consulting	Posted - 2010.01.21 15:00:00 - [9] From a post by LoW in his own thread: Originally by: LadyOfWrath Yes it will be done. I just need to do the math for transfers since stocks will have an odd value. Final Value: 46,954,655.21 ISK Per Stock This value will be assigned when doing stock transfers. Should any stockholder have ISK remaining when a transfer is completed it will be paid out to them. No player may request Bonds of greater value than stocks they currently own without posting they intend to pay the idfference in Varo's thread. All transfers will have priority over any other reservations.
Varo Jan Caravanserai Consulting	Posted - 2010.01.21 18:59:00 - [10] My pleasure, Taigatoo. And with your reservation, the bond is now 50% filled. :) We are on target.
Varo Jan Caravanserai Consulting	Posted - 2010.01.22 21:19:00 - [11] Originally by: DrefsabZN Just need to know who and when to send the isk. Sorry, I missed that. Money should be sent to Grendell once the bond is filled. When the time is ready, I will post in this thread and send each investor an eve mail.
Varo Jan Caravanserai Consulting	Posted - 2010.01.26 13:58:00 - [12] Originally by: SetrakDark I would allow (encourage) 10% or so over-reservation to account for dropped ones. A week is a long time in internet spaceships investing. Accepted. I¦ll edit the reservations post to include a standby list for up to 15B.
Varo Jan Caravanserai Consulting	Posted - 2010.01.27 02:06:00 - [13] Originally by: Darth Raxis Edited by: Darth Raxis on 26/01/2010 23:23:37 I would like to reserve for another 500 mil pls. Edited because I forgot to say another, this will be a total of 1 bil invested if another 500 is available. Yes it is, Darth. Your reservation has been upped to 1B. That makes 147.5B reserved, and 2.5B available.
Varo Jan Caravanserai Consulting	Posted - 2010.01.27 05:21:00 - [14] Originally by: Mila Mone Reserving remaining 2.5B I will also fill your standby list if anyone will choose not to participate up to the total amount of 15B Let the games begin. Let me know in eve-mail when I should send the payment. Thank you very much, Mila! Confirming that both the bond and the standby list have been filled. I¦ll post transfer details shortly and eve mail all investors.
Varo Jan Caravanserai Consulting	Posted - 2010.01.27 05:40:00 - [15] Could all investors please transfer money to Grendell. Please write "One Stop Bond" in the Reasons box when you make the payment. Finally, could you post here confirming ISK has been sent.
Varo Jan Caravanserai Consulting	Posted - 2010.01.27 06:10:00 - [16] Originally by: RJ Nobel Well, I had my doubts that this would fill in the relatively short time period alloted, so congratulations to Varo are in order. MD has a never-ending supply of ISK - it just takes a stiff upper lip to get your share of it. Thanks, RJ. It¦s been an interesting experience. Yes, that¦s an English under statement. :)
Varo Jan Caravanserai Consulting	Posted - 2010.01.27 20:32:00 - [17] I¦ve had an eve mail from Trakinor cancelling his reservation, so there¦s another 3B there if you want it, Mila.
Varo Jan Caravanserai Consulting	Posted - 2010.01.27 21:01:00 - [18] Originally by: tehsuxOr I'd like to pass my reservation to the next person in line, I'll be selling my character and purchasing another so I'll need all the money I can get. Enjoy you luck b4st4rds! Sorry to hear that, but good luck with your new character. Mila, tehsuxOr¦s 1B is yours if you want it.
Varo Jan Caravanserai Consulting	Posted - 2010.01.28 05:54:00 - [19] Thanks, guys. Just waiting on money transfers from: Erialor Godsent ~ 1B Seline Gylen ~ 1.5B Transval ~ 2B Patri Andari ~ 0.5B Mr Bussy ~ 10B Ji Sama ~ 2B Mikael Genexi ~ 1B On Standby Mila Mone ~ 11B Sundomi Sky ~ 5B Mistyevening ~ 1B RAW23 ~ 3B
Varo Jan Caravanserai Consulting	Posted - 2010.01.28 06:23:00 - [20] The following current investors in One Stop have confirmed that shares are to be converted into bonds to the value of: Jadun ~ 0.5B Mike'P ~ 1B Murixo ~ 10B The following current investors in One Stop have confirmed that their shares are to be converted to bonds, and they have transferred the balance owed to Grendell: Phoebe Halliwel ~ 5B DrefsabZN ~ 20B Awaiting final confirmation from: Synseer ~ 2B
Varo Jan Caravanserai Consulting	Posted - 2010.01.28 07:57:00 - [21] Ji has been in touch to say he will be transferring his 2B within a day. I said in my opening post that Ji will be providing collateral in the form of blue chip shares valued at 25B, and that those shares will be held by a trusted third party. Ji has now confirmed that the following shares have been transferred to Bad Bobby: 17K T4U shares 5K Cosmoray bonds 3K LYII shares
Varo Jan Caravanserai Consulting	Posted - 2010.01.28 15:36:00 - [22] Originally by: Mistyevening I'd like to know if taking a part on this is still possible? might be in with 2 bils if possible. You¦re on the standby list for 1B. I added you after you first posted.
Varo Jan Caravanserai Consulting	Posted - 2010.01.28 15:50:00 - [23] Mistyevening, I¦ve sent you an Eve mail. You might want to reduce your CSPA charge. :)
Varo Jan Caravanserai Consulting	Posted - 2010.01.28 20:16:00 - [24] Thanks, Erialor. Guys, I¦d appreciate some advice here. How long should I give people to transfer money to Grendell before I allow people on the standby list to take the reservations?
Varo Jan Caravanserai Consulting	Posted - 2010.01.28 23:09:00 - [25] Edited by: Varo Jan on 28/01/2010 23:15:14 Originally by: Mila Mone I'm more than happy to fill remaining 17B provided all the ppl in the queque agree. Thank you very much, Mila. Ji Sama is my ex-CEO, so I¦m certain he will come through. That leaves 14B. I¦ll check with Sundomi, who is next on the reservations list after you. Originally by: RAW23 I'll pay for Ji's Ji had an RL emergency, but he emailed me to say he would be sending his contribution. Nevertheless, in case he can¦t do it in time, I¦ll take you up on that offer. Thankee, sir. Originally by: Annabelle Horiz Might be worth sending an additional evemail to them? Don't think you will end up short however with the backing you have been given. I'd also cover the remainder if that was the difference between this going live or not. I think the standby covers the current deficit, but put me down for another 10bn on the standby list if you want extra security (tho I highly doubt it'll be needed). I sent second eve mails to some people yesterday, and I¦ve now sent an eve mail to all. Thank you very much for your standby offer!
Varo Jan Caravanserai Consulting	Posted - 2010.01.29 12:03:00 - [26] I think I¦ve given fair notice to all subscribers, so it is time to move on. As of now, the following people have not sent cash to Grendell: Seline Gylen ~ 1.5B Mr Bussy ~ 10B So, in order of precedence, those reservations may now be taken up by: Mila Mone ~ 11B Sundomi Sky ~ 0.5B If you guys want to split it up between you in some other fashion, that¦s fine by me. Synseer, who was first to make a reservation, and is an existing investor in One Stop, has not sent a final confirmation. Nevertheless, I am going to assume that he¦s still willing to proceed. So his 2B should be adjusted against existing holdings in One Stop. Grendell, it looks like RAW23 sent you 2B on behalf of Ji and Ji has now paid, so that money needs returning to RAW23.
Varo Jan Caravanserai Consulting	Posted - 2010.01.29 14:41:00 - [27] Yay! We¦re there! Secured Bond Holders Current Investors in One Stop DrefsabZN ~ 20B Jadun ~ 0.5B Mike'P ~ 1B Murixo ~ 10B Phoebe Halliwel ~ 5B Synseer ~ 2B Total 38.5B New Investors Annabelle Horiz ~ 2.5B Anne Lou ~ 1B Cind Moltarr ~ 1B Darth Raxis ~ 1B Deuce Bigalo ~ 0.5B Erialor Godsent ~ 1B Fecilcia ~ 6B flakeys ~ 34B Ji Sama ~ 2B Josefine Eramdem ~ 0.5B Krythas ~ 1B leona starfire ~ 10B Mikael Genexi ~ 1B Mila Mone ~ 20B Patri Andari ~ 0.5B RaTTuS ~ 2B Regulator6 ~ 1B Sturmwolke ~ 1B Sundomi Sky ~ 6B Taigatoo ~ 2B Taram Caldar ~ 1B Trader Hansen ~ 10B Transval ~ 2B War chylde ~ 0.5B Xanthar Rex ~ 4B Total 111.5B Grand Total, Secured Bond: 150B Unsecured Bond - RAW23: 25B
Varo Jan Caravanserai Consulting	Posted - 2010.01.30 11:30:00 - [28] Thank you all for your good wishes. :) LoW and I hope to complete the transfer of assets and handover this weekend. Originally by: DrefsabZN I take it you will be having the IPO officially running from the 1st of next month to make things simple, if so then I take it we should expect the first bond payments to be coming back on the 1st of march. Interest payments will be made at the end of February.
Varo Jan Caravanserai Consulting	Posted - 2010.02.01 14:00:00 - [29] Originally by: Darth Raxis What do I do if I need to sell my bonds? I assume Grendell handles it, do I just post here? Yes, you¦re right, Darth. Quoting my opening post: You are free to trade these bonds, but all trades must be done through Grendell. All trades must be confirmed in this thread in order to ensure payment of interest to the right holder of the bonds. Quote: Also, Varo, When are you getting a cool sig like LoW's? g Have to confess I never look at sigs, most are naff and take up too much space. But yeah, LoW¦s is cool. Tell you what, I¦ll think about getting one when I¦ve repaid the bond. For now I¦m looking at ways to save money, not spend it.
Varo Jan Caravanserai Consulting	Posted - 2010.02.02 02:06:00 - [30] List update to reflect Darth¦s sale. Secured Bond Holders Annabelle Horiz ~ 2.5B Anne Lou ~ 1B Cind Moltarr ~ 1B Deuce Bigalo ~ 0.5B DrefsabZN ~ 20B Erialor Godsent ~ 1.5B Fecilcia ~ 6B flakeys ~ 34B Jadun ~ 0.5B Ji Sama ~ 2B Josefine Eramdem ~ 0.5B Krythas ~ 1B leona starfire ~ 10B Mikael Genexi ~ 1B Mike'P ~ 1B Mila Mone ~ 20.5B Murixo ~ 10B Patri Andari ~ 0.5B Phoebe Halliwel ~ 5B RaTTuS ~ 2B Regulator6 ~ 1B Sturmwolke ~ 1B Sundomi Sky ~ 6B Taigatoo ~ 2B Taram Caldar ~ 1B Trader Hansen ~ 10B Transval ~ 2B Synseer ~ 2B War chylde ~ 0.5B Xanthar Rex ~ 4B Total Secured Bond: 150B Unsecured Bond - RAW23: 25B
Varo Jan Caravanserai Consulting	Posted - 2010.02.05 14:48:00 - [31] Post 185 updated to reflect transfer of 5B unsecured from RAW23 to Sundomi Sky.
Varo Jan Caravanserai Consulting	Posted - 2010.02.08 13:25:00 - [32] Originally by: Bad Bobby Originally by: Phoebe Halliwel Varo - I am passing my 5b in bonds to Bad Bobby to be held as collateral for a loan. Please could you update your records to show the transfer & ensure all dividends are paid to him. We'll post once the agreement is complete to transfer the bonds back. Hope this is acceptable. Thanks Confirming this. Send me the divs and I'll deduct them from Phoebe's interest payments. My records have been updated to reflect this. Interest payments will be made to Bad Bobby, until both Phoebe and BB advise me otherwise.
Varo Jan Caravanserai Consulting	Posted - 2010.02.14 16:40:00 - [33] Post 185 updated to reflect this: I confirm that in the event of a default, scam, or hit by a bus scenario, ownership of One Stop Buyout unsecured bonds will be transferred from RAW23 to the investors in "RAW Materials Insurance Fraud" bonds on an ISK for ISK basis.
Varo Jan Caravanserai Consulting	Posted - 2010.02.19 20:08:00 - [34] Post 185 updated to reflect the sale of 1B worth of secured bonds by Taram Caldar to Athena Tarsis.
Varo Jan Caravanserai Consulting	Posted - 2010.02.25 23:31:00 - [35] Originally by: Varo Jan Thank you all for your good wishes. :) LoW and I hope to complete the transfer of assets and handover this weekend. Originally by: DrefsabZN I take it you will be having the IPO officially running from the 1st of next month to make things simple, if so then I take it we should expect the first bond payments to be coming back on the 1st of march. Interest payments will be made at the end of February. Sundomi, I¦ll be making payments on 28 Feb, and on the last day of the month thereafter.
Varo Jan Caravanserai Consulting	Posted - 2010.02.28 07:37:00 - [36] The first monthly interest payments on the secured and unsecured bonds have been made.
Varo Jan Caravanserai Consulting	Posted - 2010.02.28 14:34:00 - [37] Originally by: Bad Bobby Sorry to mess you around, but may I request that the divs are sent to Mornington Crescent. No problem. I¦ll amend my records. Damn, that name brings back some old memories. :)
Varo Jan Caravanserai Consulting	Posted - 2010.03.03 02:23:00 - [38] Secured Bond Holders Annabelle Horiz ~ 2.5B Anne Lou ~ 1B Athena Tarsis ~ 1B Cind Moltarr ~ 1B Deuce Bigalo ~ 0.5B DrefsabZN ~ 20B Erialor Godsent ~ 1.5B Fecilcia ~ 10B flakeys ~ 38B Jadun ~ 0.5B Ji Sama ~ 2B Josefine Eramdem ~ 0.5B Krythas ~ 1B leona starfire ~ 10B Mikael Genexi ~ 1B Mike'P ~ 1B Murixo ~ 10B Patri Andari ~ 2B Phoebe Halliwel ~ 5B - Held as collateral for a loan by Bad Bobby. Interest payments to be made to BB¦s character, Mornington Crescent. RaTTuS ~ 2B Regulator6 ~ 1B Ren Mazuo ~ 3B Shionomo ~ 1B Sturmwolke ~ 1B Sundomi Sky ~ 6B Synseer ~ 2B Taigatoo ~ 2B Trader Hansen ~ 15B Transval ~ 2B Trayjan ~ 1B War chylde ~ 0.5B Wieting Foyu ~ 1B Xanthar Rex ~ 4B Total Secured Bond: 150B Unsecured Bond RAW23 ~ 20B - In the event of a default, scam, or hit by a bus scenario, ownership of these bonds will be transferred to the investors in "RAW Materials Insurance Fraud" bonds on an ISK for ISK basis. Krythas is the effective owner of 1B of these bonds. Final transfer to be effected when the RAW Materials Insurance Fraud bond closes. Sundomi Sky ~ 5B Total Unsecured Bond: 25B
Varo Jan Caravanserai Consulting	Posted - 2010.03.06 09:06:00 - [39] Originally by: Sundomi Sky I have not received my dividend. Sundomi, I just checked One Stop Mining corporate account transfers and both bond interest payments were made to you on 28/02/10 at 07:07 and 07:08. Could you recheck your wallet, please?
Varo Jan Caravanserai Consulting	Posted - 2010.03.15 01:31:00 - [40] Investor list for secured and unsecured bonds updated in post 232.
Varo Jan Caravanserai Consulting	Posted - 2010.04.01 00:03:00 - [41] March interest payments on the secured and unsecured bonds have been made.
Varo Jan Caravanserai Consulting	Posted - 2010.04.01 12:26:00 - [42] Unfortunately, Magnu has had to back out due to RL priorities, so I'll be preparing the accounts myself.
Varo Jan Caravanserai Consulting	Posted - 2010.04.03 17:29:00 - [43] A couple of announcements. Digital Jedi, an investor in the old One Stop, has provided me with an unsecured 5% loan of twenty billion ISK. The first interest payment was made on 31st March. Total interest due at the end of each month now amounts to 8.25B. I will be selling a range of products on behalf of RAW23 for a fixed fee amounting to some 7B per month. As a result, I expect net profits from all activities in One Stop to exceed 15B from this month onwards - which is the first target I set myself when I took over One Stop two months ago.
Varo Jan Caravanserai Consulting	Posted - 2010.04.04 18:39:00 - [44] Investor list for secured and unsecured bonds updated in post 232.
Varo Jan Caravanserai Consulting	Posted - 2010.04.07 11:07:00 - [45] Investor list for secured and unsecured bonds updated in post 232.
Varo Jan Caravanserai Consulting	Posted - 2010.04.10 17:10:00 - [46] Originally by: Ray McCormack Originally by: Varo Jan I will be selling a range of products on behalf of RAW23 for a fixed fee amounting to some 7B per month. As a result, I expect net profits from all activities in One Stop to exceed 15B from this month onwards - which is the first target I set myself when I took over One Stop two months ago. Excluding this windfall from your bestest buddy, it appears you fall well short of your target as well as interest payments. It appears you fall well short in reading comprehension and maths. Little surprise there.
Varo Jan Caravanserai Consulting	Posted - 2010.04.10 17:45:00 - [47] Originally by: Mme Pinkerton Quote: Surplus profits will be left in the business to build up a cash reserve to cover three months interest payments. Could you give the public a quote on the current state of this cash reserve? Reserves fluctuate. No doubt you are well aware that building an interest reserve will not be done overnight. Quote: Currently your ability to make interest payments seems to rely on one single customer (8.25b in monthly interest obligations opposed to 8b in profits from One Stop's core business). The agreement with RAW23 came into force earlier this month. It therefore follows that interest payments of 7.25B in February and 8.25B in March were not made courtesy of RAW23, wouldn't you agree? You may have misread my earlier statement. I said I expect profits to exceed 15B, my target. I did not say they would equal 15B. Please note also that I said that income from the agreement with RAW23 would amount to "some 7B per month." Quote: While RAW is far too nice to let you down on this agreement even if his RL would suddenly get less busy, this is bad style and sounds - depending on the state of the above mentioned cash reserve - rather risky. Perhaps you'd like to retract that statement now? Quote: Quote: The businesses currently generate profits in excess of ten billion ISK monthly. That provides adequate cover for bond interest payments. Maybe I did miss one of your updates - but why has the situation of the One Stop core business deteriorated so much since you took over management? The situation has improved. Income from research fees is up. More corporations have joined the alliance. More kits were sold in March. Characters have received additional training, allowing them to increase their contributions to the business. Three more characters have been brought into the business. Unutilised assets have been put to work.
Varo Jan Caravanserai Consulting	Posted - 2010.04.10 18:01:00 - [48] Originally by: cosmoray If all targets are being met and interest payments being made why has Varo taken out a 20B unsecured loan at 5%. Digital Jedi offered me 37B. I was tempted to borrow the lot as it would have allowed me to implement various expansion plans sooner. I chose not to, deeming it more prudent to put a lesser sum to work. DJ did not require me to post an announcement as a precondition. I mailed him after he had transferred the money to me, and suggested it. So take the announcement as a courtesy to inform you of my total liability to members of the community. Quote: When can the public expect the accounts Varo promised on April 1st? The accounts are being provided as a courtesy too, unlike other bond offerings such as yours. Magnu had to withdraw, so I am producing the accounts myself. You can expect them when they have been prepared to my highly picky satisfaction.
Varo Jan Caravanserai Consulting	Posted - 2010.04.10 18:08:00 - [49] Originally by: Vaerah Vahrokha Quote: Maybe I did miss one of your updates - but why has the situation of the One Stop core business deteriorated so much since you took over management? Because LOW is a very, very, very good business man/woman and know how to invent new opportunities, grow them to success, tend to them till their maturity and then offload them to someone else once they grow stale. You are an auditor, right? Then learn not to make unsubstantiated accusations. In other words, don't jump on a bandwagon and talk out of your arse. Check your facts first. Then check again. Free advice.
Varo Jan Caravanserai Consulting	Posted - 2010.04.10 19:23:00 - [50] Originally by: cosmoray You chose to provide public accounts. I never stated I would provide public financials. I only agreed to pay dividends (have done so since June 2008). Why are you stating the obvious? Quote: At present I have 40B unsecured bond. Varo has 45B unsecured and 125B secured. And what's the point here? Apart from demonstrating you can't read. I have 150B outstanding in secured loans.
Varo Jan Caravanserai Consulting	Posted - 2010.04.10 20:03:00 - [51] Originally by: Ray McCormack Originally by: Varo Jan It appears you fall well short in reading comprehension and maths. Little surprise there. I see nothing to suggest I do. The profit from the business you purchased has fallen short of meeting the required interest payments for the bond that was raised to purchase it, it has also fallen well short of the target you set yourself. That equates to failure. Remember the Foghorn Leghorn cartoons? They don't make them like that any more. One of my favourite quotes is, "That kid's about as sharp as a pound of wet liver." It applies to you perfectly. One Stop is running fine, tyvm. Now run along and troll somewhere else.
Varo Jan Caravanserai Consulting	Posted - 2010.04.11 01:59:00 - [52] Originally by: Estel Arador If I understand this correctly, some people are concerned that the core business is bringing in less profits than expected, but not so much less that the interest payments are in danger (that is, profits exceed interest payments, even if not by much). Varo has secured a deal (which may or may not be considered part of the core business), the profits of which will be added to existing profits. If that's the case, what's the problem exactly? Here are some facts: 1. I took over One Stop on 1st Feb 2. Interest payments amounting to 7.25B for Feb were paid on the due date. 3. Interest payments amounting to 8.25B for Mar were paid on the due date. 4. A sales agreement with RAW23 was reached early in April. Said agreement will net me in excess of 7B per calendar month. 5. I have not yet released accounts for One Stop - so nobody is in a position to claim that profits were less or more than expected. There is no problem.
Varo Jan Caravanserai Consulting	Posted - 2010.04.11 02:26:00 - [53] Originally by: Vaerah Vahrokha Tome on how smart he is to make 3B with 3 Mackinaws. Well go you. Whatever floats your boat. This game has room for all styles of play. If you find ice mining fun - who am I to criticise? Personally, I find running a 175B IPO - and other activities on the side - more exciting, interesting, intellectually stimulating, challenging. Enough adjectives for you? Oops - I forgot one: rewarding. And I do not mean adding 0.01 ISK to my wallet.
Varo Jan Caravanserai Consulting	Posted - 2010.04.29 21:06:00 - [54] April interest payments on the secured bond, the unsecured bond, and the private loan have been made. Investors should be aware that LadyOfWrath's account is currently inactive. The other two trustees in One Stop, Grendell and SetrakDark, are aware of the situation.
Varo Jan Caravanserai Consulting	Posted - 2010.05.05 15:41:00 - [55] Originally by: Deuce Bigalo Isk Received. Varo Jan, can you plz transfer my 1 share to Murixo. Thanx. Transfers are normally done via Grendell. Nevertheless, I'll amend my list of bondholders once Murixo confirms he sent you the money. Thank you for investing in my bond, Deuce.
Varo Jan Caravanserai Consulting	Posted - 2010.05.05 18:24:00 - [56] Investor list for secured and unsecured bonds updated in post 232.
Varo Jan Caravanserai Consulting	Posted - 2010.05.30 19:13:00 - [57] May interest payments on the secured bond, the unsecured bond, and the private loan have been made.
Varo Jan Caravanserai Consulting	Posted - 2010.06.16 16:15:00 - [58] @ RAW23 and Ray: Would you do me a favour, please, and take your discussion to the OS Financial Statements thread - if you intend to continue it.
Varo Jan Caravanserai Consulting	Posted - 2010.06.20 23:42:00 - [59] I have accepted an offer from Grendell to refinance the secured bond (150B) and the unsecured bond (25B) at more favourable interest rates. Actions will be as follows: 1. On 30th June I will pay June interest to all secured and unsecured bond holders. 2. On 30th June Grendell will repay capital to all secured and unsecured bond holders. 3. Ji Sama will be released from his commitment to provide 25B in shares as collateral on the secured bond. I'd like to thank all bond holders, past and current, for their faith in investing in what was my first bond offering. I'm very grateful to you. My thanks also go to RAW23 and Ji for going the extra mile for me and sticking their necks out. :)
Varo Jan Caravanserai Consulting	Posted - 2010.06.21 07:35:00 - [60] Originally by: Vaerah Vahrokha I'd add LOW in the credits roll. Investors "faith" has been heavily influenced by LOW credibility in his choosing you. This isn't the Oscars, and since when did you become a mind reader of 40+ investors? Take it for what it was - a simple thank you.
Varo Jan Caravanserai Consulting	Posted - 2010.06.21 07:46:00 - [61] Originally by: flakeys Thanks for a verry good investment and good luck on your future with one stop varo. You're very welcome, sir. You made the single largest reservation and subsequently increased it. I'm delighted it turned out well for you. If and when I raise a new offering, I hope you will still be interested in investing.
Varo Jan Caravanserai Consulting	Posted - 2010.06.22 01:52:00 - [62] Edited by: Varo Jan on 22/06/2010 01:56:05 It has been an exceptional month for One Stop. Sales so far exceed 15 billion, and there's still more than a week to go to month end. So I decided to pay June interest on the secured and unsecured bonds early. That has just been done. Please bear in mind that your capital will be returned to you by Grendell on 30th June. Edit: Thanks, Krythas. :) Investors in the One Stop buyout bonds will certainly be given preference in any future offerings of mine.
Varo Jan Caravanserai Consulting	Posted - 2010.07.31 14:42:00 - [63] For the record, July interest on the secured and unsecured bonds has been paid to Grendell.

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