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

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Bad Bobby The Dirty Rotten Scoundrels	Posted - 2010.04.10 09:56:00 - [271] 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. Good deals signed with my friends and close associates has been the cornerstone of my businesses. Building good relationships and making isk for both yourself and your friends is just good practice. I don't think there is any reason to exclude RAW as a valid client for Varo. However, I am suprised to read how low One-Stop's income was. My experience of the same type of business has shown it to be one of the highest returning endeavours available for the effort required.
Vaerah Vahrokha Minmatar Vahrokh Consulting	Posted - 2010.04.10 10:24:00 - [272] 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. - Auditing & consulting When looking for investors, please read http://tinyurl.com/n5ys4h + http://tinyurl.com/lrg4oz
Bad Bobby The Dirty Rotten Scoundrels	Posted - 2010.04.10 10:43:00 - [273] Originally by: Vaerah Vahrokha tend to them till their maturity and then offload them to someone else once they grow stale. This much was obvious, I think LOW actually said this was specifically their approach with their businesses in at least one MD thread. I just assumed it was still yielding over 10% when it was sold.
Ray McCormack Nordar Innovations.	Posted - 2010.04.10 13:13:00 - [274] Originally by: Bad Bobby Good deals signed with my friends and close associates has been the cornerstone of my businesses. Building good relationships and making isk for both yourself and your friends is just good practice. I don't think there is any reason to exclude RAW as a valid client for Varo. Well, let's not get crazy, of course I'm not implying that. But as it stands the business is unable to meet interest payments let alone reduce the outstanding debt, and Varo has fallen well short of the target he set himself - which leads us to question any other estimates he has set. Titan BPC For Sale \| Some people call me the space cowboy, yeah
RAW23	Posted - 2010.04.10 13:29:00 - [275] Originally by: Ray McCormack Originally by: Bad Bobby Good deals signed with my friends and close associates has been the cornerstone of my businesses. Building good relationships and making isk for both yourself and your friends is just good practice. I don't think there is any reason to exclude RAW as a valid client for Varo. Well, let's not get crazy, of course I'm not implying that. But as it stands the business is unable to meet interest payments let alone reduce the outstanding debt, and Varo has fallen well short of the target he set himself - which leads us to question any other estimates he has set. I think everyone may be extrapolating a little too much from Varo's statement that he had met the 15bil/month target he had set himself for the first year. All interest payments have been met so far and all were met before Varo and I arranged our agreement, so I'm not sure where the figures claiming he is unable to meet his interest payments are coming from.
cosmoray Bella Vista Holdings Corp	Posted - 2010.04.10 13:55:00 - [276] Edited by: cosmoray on 10/04/2010 13:57:30 If all targets are being met and interest payments being made why has Varo taken out a 20B unsecured loan at 5%. When can the public expect the accounts Varo promised on April 1st?
Varo Jan Caravanserai Consulting	Posted - 2010.04.10 17:10:00 - [277] 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.
Mme Pinkerton United Engineering Services	Posted - 2010.04.10 17:30:00 - [278] Edited by: Mme Pinkerton on 10/04/2010 17:31:58 Originally by: Varo Jan 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. If your reply is meant to say that with "net profits" you refer to profits after deduction of interest payments, much of my post above is pointless (as are the following posts by Bad Bobby & VV). If not, I am afraid that I fail at reading comprehension, too
Varo Jan Caravanserai Consulting	Posted - 2010.04.10 17:45:00 - [279] 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 - [280] 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.
cosmoray Bella Vista Holdings Corp	Posted - 2010.04.10 18:07:00 - [281] Edited by: cosmoray on 10/04/2010 18:07:48 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). At present I have 40B unsecured bond. Varo has 45B unsecured and 125B secured.
Varo Jan Caravanserai Consulting	Posted - 2010.04.10 18:08:00 - [282] 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.
Ray McCormack Nordar Innovations.	Posted - 2010.04.10 18:14:00 - [283] 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. Titan BPC For Sale \| Some people call me the space cowboy, yeah
Varo Jan Caravanserai Consulting	Posted - 2010.04.10 19:23:00 - [284] 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 - [285] 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.
Ray McCormack Nordar Innovations.	Posted - 2010.04.10 20:24:00 - [286] Originally by: Varo Jan One Stop is running fine, tyvm. Now run along and troll somewhere else. Care to explain how, when you're looking at 8b+ interest and only reportedly making 8b? Surely you expect the business you bought to pay for itself? Unless your mates must step up and save you every time? Titan BPC For Sale \| Some people call me the space cowboy, yeah
Ray McCormack Nordar Innovations.	Posted - 2010.04.10 20:33:00 - [287] Originally by: Varo Jan Why are you stating the obvious? Originally by: Varo Jan And what's the point here? Doing a good part on playing the Ray role? This is your business and reputation, not ours. Unless you don't care any longer? Or did you ever? (PS, I don't.) Titan BPC For Sale \| Some people call me the space cowboy, yeah
Ms ElectricFeel Amarr Royal Amarr Institute	Posted - 2010.04.10 21:02:00 - [288] 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. LOL; just look at your shady accounting methods Ray. How can someone who CONSTANTLY fails at partly/mainly running Ebank say someone else is failing? You make a good point. The profits are paying the interest payments. BUT, at least retained earnings aren't RED for this business. You are trolling for the sake of trolling, when your methods of preparing user information in regards to Ebank's financials are BOOKED. IMO, you have no room to talk.
Brock Nelson Caldari Flux Technologies Inc SRS.	Posted - 2010.04.10 21:13:00 - [289] Originally by: Ms ElectricFeel 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. LOL; just look at your shady accounting methods Ray. How can someone who CONSTANTLY fails at partly/mainly running Ebank say someone else is failing? You make a good point. The profits are paying the interest payments. BUT, at least retained earnings aren't RED for this business. You are trolling for the sake of trolling, when your methods of preparing user information in regards to Ebank's financials are BOOKED. IMO, you have no room to talk. Doesn't mean he can't drop by and call on someone else... Store \| Get SRS
Ji Sama Caldari Tash-Murkon Prime Industries United Corporations Of Modern Eve	Posted - 2010.04.10 21:26:00 - [290] Originally by: Brock Nelson Originally by: Ms ElectricFeel 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. LOL; just look at your shady accounting methods Ray. How can someone who CONSTANTLY fails at partly/mainly running Ebank say someone else is failing? You make a good point. The profits are paying the interest payments. BUT, at least retained earnings aren't RED for this business. You are trolling for the sake of trolling, when your methods of preparing user information in regards to Ebank's financials are BOOKED. IMO, you have no room to talk. Doesn't mean he can't drop by and call on someone else... ¿ It sure does ring hollow when known scammers and failed managers, tries to point their dirty fingers at others, but you are completely right, it is the argument that is valid, not the person presenting it.
Brock Nelson Caldari Flux Technologies Inc SRS.	Posted - 2010.04.10 21:46:00 - [291] Originally by: Ji Sama Originally by: Brock Nelson Doesn't mean he can't drop by and call on someone else... ¿ It sure does ring hollow when known scammers and failed managers, tries to point their dirty fingers at others, but you are completely right, it is the argument that is valid, not the person presenting it. Usually those who get called use "haha! I don't think anybody's who's a scammer or failed manager should be calling on me" as an excuse Store \| Get SRS
Ji Sama Caldari Tash-Murkon Prime Industries United Corporations Of Modern Eve	Posted - 2010.04.10 22:21:00 - [292] Yep you are right, in the future you can just point them towards This
Estel Arador Minmatar Estel Arador Corp Services	Posted - 2010.04.10 22:34:00 - [293] 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? Free jumpclone service\|924 stations - 6300+ users
Packtu'sa Nabaal Construction and Industrials Corp Nabaal Syndicate	Posted - 2010.04.10 23:13:00 - [294] Originally by: Estel Arador If that's the case, what's the problem exactly? They seem upset that Varo has friendships and connections which allow him to continue running One Stop even in the face of a drop in core business profits. Packtu'sa Founder/CEO, Nabaal Construction and Industrials Corp [NCIC]
Vaerah Vahrokha Minmatar Vahrokh Consulting	Posted - 2010.04.10 23:19:00 - [295] Edited by: Vaerah Vahrokha on 10/04/2010 23:23:24 Quote: You are an auditor, right? Then learn not to make unsubstantiated accusations You also are an auditor, who pictured what initially was a jump in the unknown as the safest thing ever, but let's pass over this. Because I quote someone else does not mean I read their post as holy truth, nor that I wanted to state what those directly above or below my post did. I do not have so GREAT issues at you working to pay interests, it's your choice to work hard to make someone else's pockets large like a mountain. What I think is just that: LOW indeed had good nose to dump this huge operation, I am actually half waiting for Bad Bobby to do the same with his. It's how long since the last big IPO / bond (and even not so big IPO) resulted in a shining success, ROI galore and champagne? There's PP and who else? As partial excuse of other posters tossing wrong numbers (but it's their choice not mine): It's quite hard to follow this long soap opera starring mirrors climbing and changing financial statements and agreements scattered thru the various pages. It's kind of tradition to keep the first OP updated with the last changes and vastly lesser operations (I talk of <= 10B bonds) regularly posted performance audits by third and neutral parties. What I can more or less see is this: You are out 150B (plus eventually other, but hair splitting is not necessary here) and basically staying afloat with the interests (correct with the right figures, I CBA grepping the whole novel to find the changes of the changes). Now, I, a newb, a poor random idiot, with an huge 300M initial investment am making up to 3B a month of interest-free pure cash. I also have proof that mining ice with 3 alts (can find something more AFK?) anyone with cheap pilots can make up to 3B a month, interests free and scalable. And again, the investment is about 100M per fitted ship buying off sell orders Now, where do you position this operation's profitability vs initial investment to simple idiocy operations leading to clean 3B of effortless cash, every month? How do you compare this operation setup vs setting 3 mackinaws up? How do you compare the very mention of how the lowest income, most dissed and taken as example of crap, most modest job of all (mining ice) can easily scale up and compete with the huge giant? 150B : 300M = X : 3B Is the resulting X a GREAT deal or was LOW SMART? - Auditing & consulting When looking for investors, please read http://tinyurl.com/n5ys4h + http://tinyurl.com/lrg4oz
tehsuxOr Poor Old Ornery nOObs	Posted - 2010.04.11 00:54:00 - [296] Ok so if one month is bad that means sure failure? What is wrong with you people? Every market in eve has fluctuation, I'd say it's safe to say this one is no exception to that rule. Chill out...
Varo Jan Caravanserai Consulting	Posted - 2010.04.11 01:59:00 - [297] 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.
tehsuxOr Poor Old Ornery nOObs	Posted - 2010.04.11 02:17:00 - [298] Edited by: tehsuxOr on 11/04/2010 02:21:01 Originally by: Varo Jan 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. What he said. Edit To the OP, keep doing ur thing, let the flamers do what they do best and flame...
Varo Jan Caravanserai Consulting	Posted - 2010.04.11 02:26:00 - [299] 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.
Vaerah Vahrokha Minmatar Vahrokh Consulting	Posted - 2010.04.11 07:21:00 - [300] Edited by: Vaerah Vahrokha on 11/04/2010 07:22:11 Quote: 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? Same as what I said: Quote: I do not have so GREAT issues at you working to pay interests, it's your choice to work hard to make someone else's pockets large like a mountain. but you missed the point, twice. In fact I was commenting about how LOW has been a smart manager, not about how you like to use your time. Edit: the tome was just to support that. - Auditing & consulting When looking for investors, please read http://tinyurl.com/n5ys4h + http://tinyurl.com/lrg4oz

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