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Kain Rehel
Gallente Darkwave Technologies Blade.
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Posted - 2010.03.10 01:16:00 -
[1]
Edited by: Kain Rehel on 10/03/2010 01:24:32 Edited by: Kain Rehel on 10/03/2010 01:21:14 www.Lotto49.ca Corp Plan
25 000 shares: 12 500 public / 12 500 corp. Price per share: 1 250 000mil/per share Estimated future return: 4.5% per lottery event
* Chapter 1 - The Purpose * Chapter 2 - Background * Chapter 3 - The Plan * Chapter 4 - Risks * Chapter 5 - Exit Option
Chapter 1- The Purpose
I have thought about this for awhile now and hope this appeals to all. My purpose of this is to find partners to raise isk threw corp. shares to be able to acquire more expensive items for future lotteries.
Chapter 2- Background
I have successfully completed 6 sold out lotteries totalling 3.345 billion in isk in prizes. The average time for my lotteries to complete from opening date to number drawn and prizes contracted out is approximately 6 days. The average profit after paying for prizes, 3rd party holder (I use Grendell) contract feeÆs, and website host fee is approx. 100mil. Keep in mind that my first 5 lotteries were primarily to gain experience, cliental, a nice lottery mail list, show the people I wasnÆt a scam and to try different price/prize structures to see what works best
I plan to stick with a 1mil/ticket price structure and adjust the ticket numbers depending on prize. This way even the new eve player can play, along with a veteran who can spend 100mil no problem.
My Characters are: I only have one account: Main Kain Rehel, alts lotto49 and Machaine
Chapter 3- The Plan
My plan is to stick with what I know. And thatÆs listening to my cliental, what they want for prizes and ticket prices. The hardest part is the constant updating of the forums and website, itÆs a pain, and IÆm currently in talks with a few website/software guys to make it more automatic. I am always looking at contracts and eyeing the forums for great deals on possible future prizes, to maximize my profit. With a total 15.625bil in possible investments if all shares sell, I plan to slowly but surely move up the scale of pricier ships for my main lotteries. At the moment IÆm doing carriers and would like to eventually move up to dreads, a jump freighters, and supercarriers. At the moment IÆm doing 1 lottery at a time with plans to soon do up to 3 lotteries at a time with different scale prizes to hit different market type (bpo, ships etc...)
My last lottery was a Thanatos. That lottery sold out in 3 days, giving me in the end a profit of 135mil after paying off all related expenses. Giving a share holder with 1 share 0.432% return after 4 days. Doing 5 of these type lotteries in 1 month would gather an approx. 2.16% return for a shareholder.
What the future to me means: bigger prize, bigger profit. For example 1: on a jump freighter bought at 4bil and selling tickets of 5bil with an end profit of approx. 850mil would mean a 2.72% return for that lottery alone, which from what I see in the forums would take about 2 weeks (I hope to do do better). For example 2: on a super carrier Aeon for example bought at 17.75bil and selling tickets worth 20bil giving me an end profit after expenses of approx. 2bil would mean a 6.4% return for that lottery alone, which from what I see could take anywhere from 2days to 3 weeks to complete.
Share dividends will be paid out after each lottery.
Chapter 4- Risks
Scam: There is always the chance that anything can be a scam. The 1.25mil/share was chosen for the relatively low risk investment. I love doing this, its fun for me, I in it for the long run.
Chapter 5- Exit option
At the end of each lottery, I will give shareholders an option to sell shares back to the corp. at the original price of 1.25mil/share if they wish to no longer be a part of this or are unhappy with returns. Or of course you can sell your shares to someone else.
This is on a reserved basis only at this time. Want to make sure everything is good to go first.
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Kain Rehel
Gallente Darkwave Technologies Blade.
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Posted - 2010.03.10 01:21:00 -
[2]
Edited by: Kain Rehel on 10/03/2010 01:23:00 Reservation List
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Cecilia Syal
Minmatar Republic Military School
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Posted - 2010.03.10 01:24:00 -
[3]
Your using our national lottery for a spaceships game lottery!?! lol, but at least it cant be cheated so good call, this investment IPO thing I am not sure is thought out tho, cause 25,000 shares, and 1.25mil each is 25bil+ , my head hurts so not doing the math... Its a good legit lottery with decent operating revenue, but....
25,000 shares is alot, say the 840mil profit from one lottery you said, spread among the share holders, who paid 1.25mil each for a share, they would be getting 34k isk a share or something, 840mil divided among 25,000 shares. ? why the need for public IPO to fund the lottery if its well on its way already if i may ask?. especially when you will be taking 50% of the dividend.
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Kain Rehel
Gallente Darkwave Technologies Blade.
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Posted - 2010.03.10 01:29:00 -
[4]
Edited by: Kain Rehel on 10/03/2010 01:33:50 As i said, I spend probly half my game time doing this lottery stuff. I like it, its fun, and i'd like to get into the more expensive stuff. Isk is obviously holding me back at this time. 50% for me running the thing and 50% for you guys, I thought was a good deal. From my calculations its a half decent return when i get to the point of running 3 lotteries at once. The 34k you talk about is for 4 days investment :) When we get into a month and so on it will add up.
Also like i said, I am not taking anyones isk untill this is all set up to everyone standards. I am and always will be open to suggestions and ideas to make this viable.
Kain
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Cecilia Syal
Minmatar Republic Military School
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Posted - 2010.03.10 01:33:00 -
[5]
yeah if you plan on running a couple a month then it sounds more reasonable, I might be interested in that case.
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Kain Rehel
Gallente Darkwave Technologies Blade.
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Posted - 2010.03.10 01:35:00 -
[6]
Well ofcourse, like it says I have run 6 lotteries in bascially the last 6 weeks. :) Half of that would go to the shareholders.
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Thoraemond
Minmatar Far Ranger
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Posted - 2010.03.10 01:41:00 -
[7]
Originally by: Kain Rehel [...] 3rd party holder (I use Grendell) [...] Keep in mind that my first 5 lotteries were primarily to gain experience, cliental, a nice lottery mail list, show the people I wasnÆt a scam and to try[...]
If you hired Grendell to secure your first lotteries, and no one was scammed, it would appear that you demonstrated that Grendell 'wasn't a scam', not that you weren't. That's the point of hiring such a third party service, in fact.
Accordingly, you should probably have Grendell post in this thread to confirm that he will continue to act as your third party service provider, and you should confirm that any investment funds raised (in the event that you are able to convince anyone to invest) would be payable to him, and not to you.
Originally by: Kain Rehel Scam: There is always the chance that anything can be a scam. The 1.25mil/share was chosen for the relatively low risk investment.
This makes it look like you are implying that price per share is somehow related to the risk of loss to the investor. Please explain. á á
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Kain Rehel
Gallente Darkwave Technologies Blade.
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Posted - 2010.03.10 01:51:00 -
[8]
Please don't read too much into every word. I know there is alot of scams going on. Thier is alot of money involved here 15.6bil to be exact if all shares sell. I didn't mean that any contributions made by futur shareholders were related to any risk of loss. And don't think people took it that way. Sorry you did. I will however ask Grendell to post in here saying he will continue to work for me as my 3rd party service provider as soon as can get access to the game. I don't want to get into giving Grendell all my investment money, then having to have him buy what i want, holding the rest and so on. This is my lottery, your way would make it bascially his. If a large investor comes along then we can look at alternatives but I believe this can work this way.
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SetrakDark
DarkCorp Holdings
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Posted - 2010.03.10 01:54:00 -
[9]
Originally by: Kain Rehel I believe this can work this way.
It can't.
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Thoraemond
Minmatar Far Ranger
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Posted - 2010.03.10 02:06:00 -
[10]
Originally by: Kain Rehel I didn't mean that any contributions made by futur shareholders were related to any risk of loss. And don't think people took it that way. Sorry you did.
Please allow me to simplify my question for you; I hope you can address this issue. You said: 'The 1.25mil/share was chosen for the relatively low risk investment.'
- What about that share price makes it, in your words, 'relatively low risk'? and
- More generally, how did you choose the share price?
Also, who will be auditing your offering? á á
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Kain Rehel
Gallente Darkwave Technologies Blade.
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Posted - 2010.03.10 02:16:00 -
[11]
The share price was chose so at the very least 5% return could be made a month on the 1.25mil investment. Also giving those who only want to invest a small amount (because they are scared of a scam) can do so. When they see dividends being paid out, then perhaps they will invest more. I hope this answers your question.
Auditing. Again I should have asked Grendell to perhaps vouch on my behalf since he has seen my "books" has my limited api information. And can vouch on all my lotteries. I will have to talk to him to see if he can audit or who he recommends. I trust Grendell he has helped me alot. I just want to take it to the next step.
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Drythar Starthra
SWARTA
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Posted - 2010.03.10 04:06:00 -
[12]
Edited by: Drythar Starthra on 10/03/2010 04:11:24 Hmm, so no collatoral? A swaying type of interest payout which by all figures looks low for a uncollatoralized ipo. That's alot of isk.
I personally like lottery's. However this business model doesn't look appealing as far as a public run lottery goes. Since I try to give as much positive feedback as possible, if you will humor me, here's what I'd do if I was you.
1. Raise the potential payout to investors, since they are the ones taking all the risk, your just the "car salesman" so to speak. You want to use peoples money to run a lottery, you gotta make it worth their while. Even with a 80/20 split for investors, your still getting a decent return yourself. Then again I'd have to see the profit margin over the span of a month to fully understand the figures.
2. Set up a dummy corp of some sort to hold your prize's and the isk between lottery's. Then setup some MD regulars (either well known folks who get a small cut or MD people who invest). Set it up so that not one person, not even yourself, can run off with the Thanatos or Officer fit CNR. Also having this kind of security would help ease the minds of ticket buyers too I imagine. Grendell could possibly have an alt on this corp?
3. Get an audit from a MD auditor, such as VV, Breaker or someone. There's a the 001 thing and the new Audit Fund, both are good places to look.
4. Join the Signatures and/or SCC channel and just get comments on how to make it work. Lay out some of the ideas I've put forth and other ideas you might have. These guys will do their best to help you. They like making isk and they like being friendly..well most of em.
With that being said, knowledge is power. Ask questions, understand that something like this is risky if not set up right. Also know that there are underlining standards to ipo's/bonds...collatoral, audit, good business model, security and (as much as I hate to say it) reputation.
-you don't let someone spend the night at your house if he sleeps with other peoples wives, however if he's a milkman who hasn't slept around, then well...he still has to pay rent to stay in a room, but atleast he has a chance-
Drythar
(incase you could care less what I have to say, free bump atleast :P)
-edit- Also rereading some of it real quick, I must say. Your "making each bond small decreases the chance of a scam" is completely bogus. I hate to say it man. Even if I only own a brick used to build a house and 2000 people own the rest of the bricks, the fact of the matter is it can still burn down. Scam risks, security for your ipo/bond are key. You may think that the whole thing is lookin good since no one's posted (SCAM) or anything, its becuase they read this and just moved on quick. Take clear steps to put investors minds to ease.
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SetrakDark
DarkCorp Holdings
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Posted - 2010.03.10 04:14:00 -
[13]
Originally by: Drythar Starthra Set up a dummy corp of some sort to hold your prize's and the isk between lottery's. Then setup some MD regulars (either well known folks who get a small cut or MD people who invest). Set it up so that not one person, not even yourself, can run off with the Thanatos or Officer fit CNR. Also having this kind of security would help ease the minds of ticket buyers too I imagine. Grendell could possibly have an alt on this corp?
Corp security doesn't work this way. What you're describing is impossible.
Originally by: Drythar Starthra Get an audit from a MD auditor, such as VV, Breaker or someone. There's a the 001 thing and the new Audit Fund, both are good places to look.
Maybe just to verify there are no scam toons on the account, but otherwise everything else is publicly viewable and should be the investors' duty to research. Auditors are for what people can't do on their own.
Other than that, very good advice.
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Drythar Starthra
SWARTA
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Posted - 2010.03.10 04:25:00 -
[14]
Eh I've never tried to lock down items using a dummy corp with a board of directors. I thought I had read somewhere that it was sorta possible. But I think in that case the ipo runner just unlocked the bpo's himself and got "scammed" out of them. So I see what your saying.
And I don't know enough about IPO's themselves to even remotely start to comment on the functions of an audit. I was just saying that having a MD regular audit wouldn't hurt.
Lastly, thanks on the compliment :p
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cosmoray
Bella Vista Holdings Corp
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Posted - 2010.03.10 05:14:00 -
[15]
On some of your lotteries you have Grendell securing them. If you have a third party secure the lottery why do you need start up capital.
Receive the cash, buy the ship and pay the prize.
Your not really adding much value to ask for nearly 16B in ISK, and I don't see why you need it.
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Kain Rehel
Gallente Darkwave Technologies Blade.
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Posted - 2010.03.10 05:25:00 -
[16]
First Thanks guys for all the advice. I guess I took for granted all that is needed to start something like this. I'm gonna talk to Grendell about all this and hopefully he can guide me in the right direction. I want this to be as secure as I can make it without having someone else bascially running it. I'll take everything you've said, sit down and see what i can come up with forsure.
As for cosmoray comments, i thought that i made it clear what i wanted to do with the 16bil. I wanted to buy bigger prizes resulting in bigger profits, resulting in better dividends for everyone.
I can ofcourse continue to do carriers, collect the profit, then do dreads, collect the profit and keep going that route until i eventually get to my super carriers. I just figured there would be interest in this idea to "fast track me" straight to the carriers and make everyone some money.
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Cyaxares II
Gallente Estel Arador Corp Services
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Posted - 2010.03.10 06:51:00 -
[17]
Originally by: Kain Rehel I can ofcourse continue to do carriers, collect the profit, then do dreads, collect the profit and keep going that route until i eventually get to my super carriers. I just figured there would be interest in this idea to "fast track me" straight to the carriers and make everyone some money.
You didn't get cosmoray's point:
it's plain stupid to lock up capital by buying the price before selling the tickets.
First sell all the tickets, then (let Grendell) take the proceeds and buy the price(s).
all capital a lottery needs upfront is the money to pay the 3rd party.
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Thoraemond
Minmatar Far Ranger
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Posted - 2010.03.10 08:29:00 -
[18]
Originally by: Kain Rehel The share price was chose so at the very least 5% return could be made a month on the 1.25mil investment. Also giving those who only want to invest a small amount (because they are scared of a scam) can do so. When they see dividends being paid out, then perhaps they will invest more. I hope this answers your question.
Thank you for clarifying; I remain concerned that this approach may reveal a lack of insight into your own business, but as you post more and address people's questions, I remain open to changing my mind.
Whether the share price is 1.25 MISK or 20 MISK should make no difference to your ability to create returns of 'at the very least 5%'. Whether you were to raise 15 GISK @ 1.25 MISK/share or 15 GISK @ 20 MISK/share, either way you would be seeking to earn against the same pot of capital.
Your capacity to make that 5% depends on your operational plan and on the total amount of ISK you have raised. (Past a certain point, having more ISK in hand can tend to make it harder to earn a greater rate of return.)
Differentiating between
- the likelihood that any investor would lose his or her ISK, and
- the amount of ISK that investor would lose,
we can see that a lower share price might help small investors (those that would actually invest less ISK in total due to the lower share price) lose less ISK in the event that things go unfavourably for them... but a low share price does nothing per se to reduce the likelihood of that loss. One who invests 20 MISK might lose that entire amount, regardless of whether that is 16 shares or 1.
Given the mean ISK held per pilot (shown in one or more past QEN reports) and how easy it is to put together five million or ten million ISK, even for a still-in-trial pilot, 1.25 MISK/share seems unnecessarily small to me, but ultimately that is just a matter of opinion... my concern is the (perhaps accidental) implication that the share price has anything to do with the likelihood of loss.
Originally by: Kain Rehel Auditing. Again I should have asked Grendell to perhaps vouch on my behalf since he has seen my "books" has my limited api information. And can vouch on all my lotteries. I will have to talk to him to see if he can audit or who he recommends. I trust Grendell he has helped me alot. I just want to take it to the next step.
[...]
An audit would only reveal my numerous lottery ticket payments, which grendell can say are thier, I also post who buys the tickets, so its the same thing, but yes confirming everything is always good.
Having seen some operational details and some ISK related to working for you in securing your lotteries is not the same as seeing your 'books'. The limited API does not provide access to your 'books'. An auditor will need access to your full API. One purpose of auditing is to share (with the auditor) evidence to support your claims rather than just the claims themselves. I am sure it is obvious that there is a difference to potential investors between
- relying on your (obviously self-interested) claim that 'an audit would reveal only x' and
- relying on an audit finding by an apparently independent auditor that is consistent with your claims.
Your posts in later comments suggest that you are amenable to auditing, so I won't press this issue myself. It would have been preferable to see this issue considered, at least, in the initially-posted plan. á á
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Kain Rehel
Gallente Darkwave Technologies Blade.
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Posted - 2010.03.10 08:55:00 -
[19]
Edited by: Kain Rehel on 10/03/2010 08:56:15
Quote:
You didn't get cosmoray's point: it's plain stupid to lock up capital by buying the price before selling the tickets. First sell all the tickets, then (let Grendell) take the proceeds and buy the price(s). all capital a lottery needs upfront is the money to pay the 3rd party.
Lotteries just don't work that way unfortunaly. Grendell wants the prize in his possession before using his name as a 3rd party service. Otherwise the person running the lottery, could take all the money from ticket sales and run. Plus letting your clients know that the actual prize is out there held by the 3rd party gives extra confidence there is no funny business happening. I would not consider your idea of selling all tickets, gathering the money then getting the prize, and neither would Grendell.
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Cyaxares II
Gallente The Scope
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Posted - 2010.03.10 09:20:00 -
[20]
Originally by: Kain Rehel Otherwise the person running the lottery, could take all the money from ticket sales and run.
obviously, the money for tickets would be send directly to the 3rd party.
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Kain Rehel
Gallente Darkwave Technologies Blade.
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Posted - 2010.03.10 09:23:00 -
[21]
Thoraemond, thank again for taking the time to read everything and taking the time to explain all this to me, i do appreciate it. First, I will ofcourse agree to a full api audit. Just need to find out a few names of people who do this sort of thing, and costs related to this, but i do agree with you I should have had this done before hand. If you have anyone in mind please forward their names to me. Whats this sort of thing cost? Second, It makes no real different, weather I decided to have 25000shares or 1000000mil shares or 5000. I decided 25000 for the simple reason you have already said: small investors can be attracted aswell as the large investor. I've decided on this approach because my lotteries are run the same way, i have clients who buy 1, 1mil isk ticket and i have some who buy 100mil's of tickets. In my opinion the little guy can alwasy play a big part. Third you talk about "Differentiating between:i-the likelihood that any investor would lose his or her ISK, and ii-the amount of ISK that investor would lose." Unless i am hit by a car and die, my investors will make money. I will continue to run my lotteries, at the carrier level or beyond. Worst case scenerio i continue to average a carrier lottery every 3-6 days, making a half decent profit on each giving my investors, a nice 4-5% return on this investment. This will only increase in time and with more amount of isk at my disposal. When you talk about "(Past a certain point, having more ISK in hand can tend to make it harder to earn a greater rate of return.)" I'm not sure i follow, When i get enough isk to run the bigger lotteries for say a super carrier, which can take 1-3 weeks (perhaps) i will still run a carrier lottery at the same time. :)
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Kain Rehel
Gallente Darkwave Technologies Blade.
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Posted - 2010.03.10 09:29:00 -
[22]
Originally by: Cyaxares II
Originally by: Kain Rehel Otherwise the person running the lottery, could take all the money from ticket sales and run.
obviously, the money for tickets would be send directly to the 3rd party.
I have already gone over this. I am not interested in my 3rd party running my entire lottery. Grendell's rate is reasonable for holding and picking the winner. If i add collect all the isk, confirm, update the names, this will eat away at my profit, reducing what i can give my shareholders. Besides, I can say Hey everyone TITAN lottery, but in the end if i cant get a titan, then what?
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Cyaxares II
Gallente The Scope
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Posted - 2010.03.10 09:44:00 -
[23]
Originally by: Kain Rehel Besides, I can say Hey everyone TITAN lottery, but in the end if i cant get a titan, then what?
If the lottery doesn't fill, you shouldn't launch it anyways.
If you have raised "enough" money through ticket sales but there is no titan on sale, well, then you obviously haven't raised enough money (supply is a function of price, even in the short term).
Why not buy an option to get a titan at date x for y ISK beforehand? If the lottery fills, exercise that option, if it doesn't let it expire (and lose what you paid for it).
I am not so much concerned about whether you like my proposal or not (your projected returns seem poor to me as is, and by using a 3rd party you will never get into a position in which people are willing to trust you), however, it seems extremely wasteful to buy the prices upfront.
I am sure there is some practicable solution that does not require such excessive amounts of capital. (btw you shouldn't compare Grendell's fees to your cost if you did it all by yourself but to the interest rate you have to pay on the excess capital).
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coeira
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Posted - 2010.03.10 10:32:00 -
[24]
this is the 2nd time you've tried to do this venture in 3 days. the first time you where told such a large amount of money without collateral would be extremely hard to raise because of the scam risk.
and last time you where asking for the money to be sent to grendell this time your wanting to handle the investors money and the lottery money yourself so doubling the amount you could run off with.
First offering
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RAW23
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Posted - 2010.03.10 10:41:00 -
[25]
Not buying the ship in advance will also allow you to make the lottery more attractive - "Jump freighter of your choice", for example, rather than "Rhea".
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Kain Rehel
Gallente Darkwave Technologies Blade.
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Posted - 2010.03.10 10:46:00 -
[26]
Originally by: coeira this is the 2nd time you've tried to do this venture in 3 days. the first time you where told such a large amount of money without collateral would be extremely hard to raise because of the scam risk. and last time you where asking for the money to be sent to grendell this time your wanting to handle the investors money and the lottery money yourself so doubling the amount you could run off with. First offering
Easy there partner, the link you provide is me asking for 1 or 2 investors, and got all your replies, took that information and made a plan to do it this way. Threw corp shares, and then pay dividends. That link was my first idea, this is a totally different approach. Do not accuse me of scamming. I have been taking everyones suggestions and trying to make this work.
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Kain Rehel
Gallente Darkwave Technologies Blade.
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Posted - 2010.03.10 10:52:00 -
[27]
Originally by: RAW23 Not buying the ship in advance will also allow you to make the lottery more attractive - "Jump freighter of your choice", for example, rather than "Rhea".
I can live with having a lottery with this idea, but i would still need the isk amount of a jump freighter to give to my 3rd party to hold. Otherwise the 3rd party would want to collect the ticket sales, and that just isn't an option. It would cost too much. And from the clients i talk to, 99% of the time the winner sells the prize in the end.
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RAW23
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Posted - 2010.03.10 11:15:00 -
[28]
Edited by: RAW23 on 10/03/2010 11:16:36 Edited by: RAW23 on 10/03/2010 11:16:10
Originally by: Kain Rehel
Originally by: RAW23 Not buying the ship in advance will also allow you to make the lottery more attractive - "Jump freighter of your choice", for example, rather than "Rhea".
I can live with having a lottery with this idea, but i would still need the isk amount of a jump freighter to give to my 3rd party to hold. Otherwise the 3rd party would want to collect the ticket sales, and that just isn't an option. It would cost too much. And from the clients i talk to, 99% of the time the winner sells the prize in the end.
Would the cost of having the money sent to a third party really outweigh the cost of payments to investors? If so, shop around and see what other 3rd parties are offering (no offence meant to Grendell, it's just 4% plus for holding money for a few weeks seems a bit much).
I'll be frank - you are not going to raise 15 bil+ unsecured with no MD history, no collateral and an uncertain interest rate. I'm sorry, but there it is. Just as people taking part in your lottery will want security via collateral or reputation (of the third party), so will MD investors. To make this work you need to find some way of providing this security at both ends (for investors and players). You might be best off reverting to your previous approach and looking for a couple of big investors, maybe one of whom could receive the ticket proceeds, or alternatively going for a smaller amount that will be seen as more acceptable for a start-up business.
Edit @Drythar - You can lock down BPOs but not other types of items, as far as I'm aware.
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coeira
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Posted - 2010.03.10 11:34:00 -
[29]
Originally by: Kain Rehel
Easy there partner, the link you provide is me asking for 1 or 2 investors, and got all your replies, took that information and made a plan to do it this way. Threw corp shares, and then pay dividends. That link was my first idea, this is a totally different approach. Do not accuse me of scamming. I have been taking everyones suggestions and trying to make this work.
doesn't matter if its 1 or 2 investors or 50-100. your still not giving any way for an investor to get there money back. the only 2 differences between your orginal offer and this is you firstly did a business plan. and now instead of looking for 1 or 2 to take a massive punt on you being trust worthy your wanting a lot more people to make that punt now.
except you want to hold all the cash so that would be 30 billion isk in your bank account. thats an awful lot of money and temptation for somebody essically given neither the investors not the lottery winners would have any way to make sure they get there prize or money back.
because if i was going to scam like this with an md offering on my lottery the first thing i'd do is go and create the next lottery or lotteries and say "in the past i've used grendell to hold the prizes but the MD community have now backed my business to the tune of 15 billion so I wont be using his service in this lottery but my MD backers will confirm we have the prize in place"
and then you run off to onto another alt with 30 billion more then you could make in 3 years doing your lottery.
it may not be a scam but its got the smell of one. even more so given the fact that doing a lottery as somebody has pointed out already you dont need all the capital up front to do it.
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Kain Rehel
Gallente Darkwave Technologies Blade.
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Posted - 2010.03.10 11:41:00 -
[30]
Edited by: Kain Rehel on 10/03/2010 11:42:01 Not that it makes a difference but its only 15bil in total shares. But anyways I'm not sure what to say guys. I figured this was a good plan. Its obviously much harder to put something like this together than I thought. I will get an audit done, just to end this discussion and go threw the experience of going threw one. Thanks to those who did gave me great advice, much appreciated.
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