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Thread Statistics | Show CCP posts - 1 post(s) |
Ray McCormack
Nordar Innovations.
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Posted - 2010.01.31 10:38:00 -
[1]
Dear Shareholders,
it's with great excitement for our future prospects that I announce the formation of a new holding corporation for AATP: AATP Holdings [AATPH]. This corporation will be responsible for dividend distribution.
Reasons
The reasons for the creation of the holding corporation and the subsequent share swap are twofold:
- To prevent dividends from being deposited into dormant or banned accounts.
- To utilise the dividends from these accounts to grow the business.
Share Swap Process
A share swap scheme to change existing AATP shares into the new AATPH shares has begun and will continue until all shares haven been swapped out. To swap your shares over, initiate a conversation with Ray McCormack in-game, transfer your shares over only after being given the go-ahead. Your new shares will then be transferred to you.
It is important that you DO NOT send shares without explicitly being told to do so.
Should you not be able to contact Ray McCormack directly due to time zone differences, please send him an in-game EVEmail and alternative arrangements will be made for you.
- Contact Ray McCormack.
- Do not send shares until explicitly told to.
- Transfer your AATP shares to Ray McCormack (or another nominated character) only after being instructed to.
- Your new AATPH shares will then be transferred to you.
NB: AATP and its employees will not be held responsible if these procedures are not adhered to.
Missed Dividends
Should your swap occur after a dividend cycle(s), your right to those missed dividends will still exist and they will be paid out to you in full. If AATP, for whatever reason, is unable to meet this obligation immediately, they will be paid out of dividend funds at the next cycle. If this still cannot satisfy the payment of missed dividends, a loan will be obtained from one of the financial entities within EVE. Failure to obtain such a loan will lead to the liquidation of current and then fixed assets to accommodate this obligation.
- Missed dividends are still rightfully yours.
- They will be paid out to you during the share swap process.
- Should AATP be unable to meet this obligation:
- They will be paid from proceeds earmarked for distribution at the next cycle.
- A loan will be obtained.
- Assets will be liquidated.
Withheld Dividends
Any dividends from unclaimed shares will be kept in the AATP wallet. Use of these funds to cover operational shortfalls will be restricted to no more than one month's profit. Use of these funds to purchase additional fixed assets will be restricted to no more than 50% of the available fund. Use of the additional 50% to procure fixed assets will be subject to the financial approval by AATP employees and tentative acceptance of a loan with one of the financial entities in EVE.
- Dividends from unclaimed shares kept in AATP wallet.
- Use of funds for operational processes restricted to an amount equal to one month's profit.
- Use of funds for fixed asset procurement restricted to 50% of the fund.
- Use of the additional 50% subject to financial approval by employees and the tentative acceptance of a loan.
Estimate of Unclaimed Shares
Utilising an unfounded, untested method of measuring atrophy, AATP estimates that at least 2.1m shares could remain unclaimed indefinitely, 22% of the 9.5m distributed shares. At current dividend amounts that would result in a 1.1b monthly increase for the withheld dividend fund.
Future Share Swaps
The potential exists for new holding corporations to be created in the future, for much the same reasons as this one. No definite interval between swaps has been set yet, most will be done opportunistically when there appears to be a measured benefit for the corporation.
Regards
Ray McCormack
CEO - AATP
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Ray McCormack
Nordar Innovations.
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Posted - 2010.01.31 10:49:00 -
[2]
You will be able to swap shares out from tomorrow evening once the vote in the holding corporation goes through to create a further 9.499m shares.
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Ray McCormack
Nordar Innovations.
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Posted - 2010.02.01 16:54:00 -
[3]
I am online now and available for share transfers.
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Ray McCormack
Nordar Innovations.
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Posted - 2010.02.01 19:49:00 -
[4]
Why would I need a clause for something I can just go ahead and do anyway?
443,543 shares swapped this evening; 9,056,457 outstanding.
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Ray McCormack
Nordar Innovations.
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Posted - 2010.02.02 04:41:00 -
[5]
 Originally by: Proton Power
I think that is fair.
It is also commonsensical, as whilst you are away your ISK can be used it grow your investment.
Originally by: Proton Power
I am not sure if you created some sort of vote or not to inform your share holders of this
There was a vote, and there will be an AATP vote issued every dividend cycle to remind shareholders to exchange shares.
Originally by: Thoraemond
I hope the attrition information will be made available on a regular basis
I will continue to update the exchanged and outstanding in this thread for the next month, and then it will become a permanent item in the Shareholder report going forward.
Quote:
share bug
Yeah, it doesn't display correctly, but there are 9.5m shares.
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Ray McCormack
Nordar Innovations.
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Posted - 2010.02.02 16:31:00 -
[6]
Online again to exchange shares.
I've replied to all EVEMails, if you didn't receive a reply it's because I don't like you or you have CSPA charges enabled (and I'm not made of money. Well, I am, but it's the principle).
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Ray McCormack
Nordar Innovations.
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Posted - 2010.02.02 19:32:00 -
[7]
There's a very annoying bug with the share transfer window that I'd forgotten about.
You enter the number of shares, type in the person's name, skip the Search button and hit Okay. If they have a name that needs confirmation a character selection window pops up. You select the correct character, and then if you press Okay again (there's a bit of lag that allows you to do so) the share transfer will go through twice.
The problem is exacerbated from the lag of taking screenshots at the same time.
Did that twice tonight, first person has sent the extra shares back and I don't see a problem getting the extra shares back from the second person.
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Ray McCormack
Nordar Innovations.
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Posted - 2010.02.02 20:18:00 -
[8]
Originally by: Ray McCormack
443,543 shares swapped this evening; 9,056,457 outstanding.
1,925,143 shares exchanged this evening; 2,368,686 in total; 7,131,314 outstanding.
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Ray McCormack
Nordar Innovations.
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Posted - 2010.02.06 12:01:00 -
[9]
Originally by: Ray McCormack
1,925,143 shares exchanged this evening; 2,368,686 in total; 7,131,314 outstanding.
3,191,107 shares swapped to date; 6,308,893 outstanding.
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Ray McCormack
Nordar Innovations.
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Posted - 2010.02.10 05:02:00 -
[10]
RESX has returned all shares to depositors.
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Ray McCormack
Nordar Innovations.
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Posted - 2010.02.24 18:24:00 -
[11]
Originally by: Ray McCormack
3,191,107 shares swapped to date; 6,308,893 outstanding.
4,121,472 shares exchanged so far; 5,378,528 remaining.
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Ray McCormack
Nordar Innovations.
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Posted - 2010.05.08 19:28:00 -
[12]
Originally by: MindDragon
I know this is an ancient topic but I just game back to game and I got the notice. Is this still active? I have shares.
It most definitely is, and will be forever. Please convo me to organise the exchange.
Originally by: RAW23
Edit - On reflection, scam is probably the wrong word as this isn't a con trick. Fraud seems more appropriate.
And yet you're still willing to invest at an exorbitant rate in a corporation committing so-called 'fraud'? Hypocrite.
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Ray McCormack
Nordar Innovations.
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Posted - 2010.05.08 19:46:00 -
[13]
Originally by: RAW23
Now, since this hypocrite is a shareholder, will you explain how you reached the goodwill valuation that appears on our books? I'd like to know if the assets of mine that you manage are correctly valued.
And as explained before, since you're too ****ing dumb to notice the first time, this question has been asked and answered before. It's even linked in the latest announcement in a reply to a comment from your bum chum.
Can you see now?
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Ray McCormack
Nordar Innovations.
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Posted - 2010.05.08 20:00:00 -
[14]
Originally by: RAW23
It's so ... so ... obvious?
Of course not. But did you expect otherwise? The result is of your own making, it has nothing to do with you being a shareholder.
And yes, I do think you're a butt pirate. Nothing personal, just an opinion.
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Ray McCormack
Nordar Innovations.
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Posted - 2010.05.08 20:33:00 -
[15]
Originally by: Mme Pinkerton
I understand we are on the internetz but that's no excuse to utter discriminatory bull**** like your statements; I had hoped most civilized societies had gotten past that point for at least 40 years or so...
I don't know what PC gone crazy land you live in, but you don't think it possible that I myself might be a homosexual and that raw's comments about my latent homophobe nature might be accurate?
Anyway, you're clearly in need of some (butt) lovin'. Fhagg.
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Ray McCormack
Nordar Innovations.
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Posted - 2010.05.10 05:36:00 -
[16]
Yeah, I also noticed that, not sure why it went missing; it honestly doesn't bother me, people are free to run their mouths off spilling their worthless opinions on the matter.
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Ray McCormack
Nordar Innovations.
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Posted - 2010.05.10 16:42:00 -
[17]
Originally by: RAW23
I think he just likes the attention tbh;
And yet you're still here, giving it to me (hopefully in more ways than one). Who's the winner now? Yeah baby, you are!
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Ray McCormack
Nordar Innovations.
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Posted - 2010.05.10 17:40:00 -
[18]
Originally by: RAW23
Consider it
I'll consider it anyway you want me to, gorgeous.
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Ray McCormack
Nordar Innovations.
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Posted - 2010.05.11 15:07:00 -
[19]
Originally by: Xylopia
I've previously made contact to you, but never been responded.
You probably have CSPA charges enabled, and therefore would not have received a response from me. To initiate the transfer, simply start a conversation with me in-game.
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Ray McCormack
Nordar Innovations.
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Posted - 2010.05.12 05:32:00 -
[20]
Originally by: Hippopotamus Rex
i.e. Do you view this as the best possible solution or a perfect solution?
Depends, what problem do you think we're trying to solve?
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Ray McCormack
Nordar Innovations.
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Posted - 2010.05.13 05:47:00 -
[21]
The additional risk they assume is negligible and the benefit received from growing the business with their idle dividends is compensation enough.
With regards to your statement about the volume of debate on the matter; I would encourage all past, present and future shareholders to assume the same process will apply to them sometime in the future and adopt a stance on the issue accordingly.
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Ray McCormack
Nordar Innovations.
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Posted - 2010.05.13 14:30:00 -
[22]
Originally by: RAW23
An increase from zero risk
There is never zero risk.
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Ray McCormack
Nordar Innovations.
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Posted - 2010.05.13 19:23:00 -
[23]
Originally by: Hippopotamus Rex
I'm not suggesting paying 1% on ALL withheld dividends, just the amount that is withdrawn and re-invested into the corp. You will be tracking these amounts anyways, so tracking interest wouldn't be that much additional work.
I like this suggestion, I'll weigh its merits against some numbers and see what the options are.
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Ray McCormack
Nordar Innovations.
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Posted - 2010.05.14 05:29:00 -
[24]
Originally by: Professor Leech
If investors accept a free isk clause for inactive investors in ipos then there's nothing anyone can complain about. This is all about killing my entertainment.
Well, I'll give you some drama back then. Investors have no say in the matter, I alone decide what is best for the business.
Are you not entertained?
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Ray McCormack
Nordar Innovations.
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Posted - 2010.08.05 14:59:00 -
[25]
Please convo me to do the exchange.
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