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Kalni
White Star Line 2010
SOLITUDE COALITION
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Posted - 2010.04.25 20:11:00 -
[1]
This is the second trade bond I have done. In the first here I borrowed 600 mil at 20% per month. Perhaps not the smartest move (in terms of rate) but I was new to game and ramped up on trading. Despite the interest rate I made margin.
Plan:
As before I will operate out of Amarr, but this time round I will also be using Jita. I don't haul any very high value cargos, but instead use contracts with a suitable escrow price.
Mostly I have been operating by station trading, and I have 1 mil SP in trade, but i'm just a couple of days away from PE 5 so will be using a couple of BP's Ive researched up to try my hand at production.
Because I will be using the bond isk to trade I cannot give collateral.
Bond Terms:
Value: up to 2 bil Isk
Interest: 8.5%, paid monthly for the duration of the bond.
Duration: 12 weeks maximum, but may be payed off sooner in full.
Share Value: 10 million per bond i.e. 200 bonds at 10 mil each
Bond amount - I would run the bond with between 1-2 bil invested at this interest rate. If its not fully taken up I will run it with what I've got.
Risk Assessment:
Scam risk.
Trading incompetence, I will again ask for an audit and give up my API to show I can trade.
Bond Status:
Accepting reservations, pending audit.
Varo Jan has volunteered to re-audit.
I will be approaching the MD audit fund to see if I can get some help with audit costs.
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Lashka Gar
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Posted - 2010.04.25 23:54:00 -
[2]
I'll go in for 10 bonds/100mil after the audit etc etc.
Looks like you made good on your first go and this is an appropriate step forward.
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Bobby BooShae
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Posted - 2010.04.26 06:30:00 -
[3]
I to will go in for 10 bonds/100 mil pending audit
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Khayos
Caldari
United Enterprise
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Posted - 2010.04.26 11:42:00 -
[4]
20 bonds - 200mil pending audit
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Tenatz
IsTech Industries
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Posted - 2010.04.26 12:43:00 -
[5]
I would like to reserve 20 bonds pending audit.
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Pippgirl
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Posted - 2010.04.26 12:58:00 -
[6]
I would like to reserve 20 bonds please
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Kalni
White Star Line 2010
SOLITUDE COALITION
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Posted - 2010.04.26 20:43:00 -
[7]
Edited by: Kalni on 26/04/2010 20:43:46
Varo has agreed to audit. MD audit fund has kindly agreed to subsidise audit costs.
Reservation list updated.
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Taram Caldar
Royal Black Watch Highlanders
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Posted - 2010.04.26 20:52:00 -
[8]
Pending results of the audit I would like to reserve 100 bonds (1 billion isk)
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Rykker Bow
Gallente
The Blackfold Brotherhood
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Posted - 2010.04.26 21:02:00 -
[9]
I'll reserve 20 bonds pending review of the audit
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Taigatoo
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Posted - 2010.04.26 21:06:00 -
[10]
Pending results of the audit, I'd like to reserve 20 bonds.
Thanks,
-T.
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max ikabon
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Posted - 2010.04.26 22:47:00 -
[11]
I would like to reserve 10 bonds pending audit.
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Estel Arador
Minmatar
Estel Arador Corp Services
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Posted - 2010.04.26 23:16:00 -
[12]
This is probably the tamest investment thread ever 
None of the investors who reserved "pending audit" have any questions? If I had reserved pending audit I would ask a few things which could be confirmed (or disconfirmed) by an audit, like asking Kalni what his current NAV is.
Free jumpclone service|924 stations - 6300+ users |
Taigatoo
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Posted - 2010.04.27 00:35:00 -
[13]
- Some of the potential investors may have set parameters that they don't want/need to be vocal about, because they go without saying.
- Some may have asked ingame, have the info they want already and are just waiting for it to be confirmed.
- Some may think that the amount of ISK that will be potentially invested is not that huge and unless severe red flags are being raised, they've already decided to invest.
Having said that, I agree. It's very tame indeed.
-T.
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Lord Arbalest
Amarr
Zero Profits
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Posted - 2010.04.27 01:09:00 -
[14]
 Originally by: Taigatoo
- Some may think that the amount of ISK that will be potentially invested is not that huge and unless severe red flags are being raised, they've already decided to invest.
That's a very risky attitude to adopt when investing. Isk invested badly is isk thrown away. Then again, whatever works for you.
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Taram Caldar
Royal Black Watch Highlanders
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Posted - 2010.04.27 01:11:00 -
[15]
Edited by: Taram Caldar on 27/04/2010 01:15:57
Originally by: Estel Arador
This is probably the tamest investment thread ever
None of the investors who reserved "pending audit" have any questions? If I had reserved pending audit I would ask a few things which could be confirmed (or disconfirmed) by an audit, like asking Kalni what his current NAV is.
Most of the questions I have will be answered by a thorough Audit. If I don't like what I see I'll happily withdraw my reservation as I did with a previous thread.
I personally am tired of asking the same questions over and over so I just wait to see the audits now. If the audit has an answer I don't like and it wasn't covered in the offering (yes this one is pretty sad) already I just withdraw my reservation and let the offerer swing in the wind. Too many bond issuers today are giving sub standard offerings. So... I'll put in a reservation and if everything, and I do mean everything, isn't kosher on the audit then I withdraw the reservation.
There's a perfectly good way for the bond owners to avoid this: Give a proper Bond offering and business plan... there's even one in the stickies somewhere if I recall correctly. It's not my job as a potential investor to tell the bond owner what they're doing wrong. It's my job to decide whether or not to invest based on the information given.
As for the NAV it will come out in the audit. As for her age... I already know.... as for her business plan... I already know.... (in game questions ftw) and as far as the writeup? I am already putting marks against this IPO due to the laziness of the writeup especially considering we already pointed out that the writeup should be thorough in Kalni's discussion thread.
Will I eventually invest? Maybe... it really depends on a lot of things that I'm waiting to see in the Audit since Kalni didn't bother to do a thorough business offering.
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Kalni
White Star Line 2010
SOLITUDE COALITION
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Posted - 2010.04.27 22:05:00 -
[16]
@ Estel, NAV is around 650 mil according to Emma, but no doubt Varo will report his view in the audit.
I'm sorry some are complaining this bond offer is tame. I'm not fantastic at writing up a business plan like some folks on MD. The plan for trading is the same buy low sell high as before so there's a limit to what I can say about that. I was thinking that doing what I said I would do, and proving it with the audit was more important than a flashy plan.
So no I'm not giving bells and whistles, but I will again do what I say I will.
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Estel Arador
Minmatar
Estel Arador Corp Services
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Posted - 2010.04.27 22:43:00 -
[17]
Originally by: Kalni
@ Estel, NAV is around 650 mil according to Emma, but no doubt Varo will report his view in the audit.
Certainly Varo will. I was just suggesting that asking you what your NAV is before the audit is posted would be interesting since it would show any differences in interpretation. Figuring out where such a difference comes from (if any) would tell the prospective investors something about how organised you are about your financials.
Originally by: Kalni
I'm sorry some are complaining this bond offer is tame.
Speaking for myself, my comment on the tameness of this thread was not so much directed to you as to the investors, who just reserve pending audit without any further questions or comments. (And there are plenty questions and comments investors could ask/make given the very brief post you made.)
Me finding this thread 'tame' is just another way of saying that I'm surprised you've not been flamed to death 
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Varo Jan
Caravanserai Consulting
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Posted - 2010.04.27 23:50:00 -
[18]
Originally by: Kalni
I will again ask for an audit and give up my API to show I can trade.
Varo Jan has volunteered to re-audit.
I will be approaching the MD audit fund to see if I can get some help with audit costs.
Confirming that I volunteered to re-audit and that I have Kalni's API key.
However, terms have yet to be agreed, so I will start the audit once agreement has been reached.
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Varo Jan
Caravanserai Consulting
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Posted - 2010.04.29 11:20:00 -
[19]
Confirming that terms have now been agreed, and that I will now make a start on the audit.
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Taram Caldar
Royal Black Watch Highlanders
Warped Aggression
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Posted - 2010.05.02 03:34:00 -
[20]
Something has come up and I won't be able to participate. Please cancel my reservation.
Good luck with your bond.
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Kalni
White Star Line 2010
SOLITUDE COALITION
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Posted - 2010.05.02 23:09:00 -
[21]
Originally by: Taram Caldar
Something has come up and I won't be able to participate. Please cancel my reservation.
Good luck with your bond.
No problem Taram. That takes me back to reservations of 1.3 bil, 700 available. Varo has completed the audit and will no doubt post it next time hes on.
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Hinata
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Posted - 2010.05.03 00:12:00 -
[22]
I will fill the remainder of the bond i.e 700m? Pending audit
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Varo Jan
Caravanserai Consulting
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Posted - 2010.05.03 08:16:00 -
[23]
Audit Report on Kalni
I was given full access to one account consisting of two characters, Kalni and a fresh alt. According to Kalni, this is the only active account, there are no inactive accounts, and no characters have been bought or sold. Kamarillon, a market checking alt, has been biomassed.
The account is paid in cash. No PLEXs or GTCs have been used to fund the account.
Characters
Kalni
Female Caldari Achura, created on 01/02/10.
2.8m SP. 4 skills at Level 5. Medical clone insufficient, no capability for jump clones, +3 implants Charisma and Memory. Standings are negligible with corporations and factions.
Training has been focused in two areas:
Industry 1.1m SP (PE and Refining 5)
Trade 1.2m SP. Kalni can manage 113 orders (Wholesale 3). He is currently training Broker Relations 4. Accounting and Margin Trading are at L4.
Employment History
School of Applied Knowledge 01/02/10 to 20/02/10.
White Star Line 2010 from 20/02/10 to now. White Star is a 64 man industrial corporation.
Posting History
33 posts in MD. No posts by the alt or the biomassed character were found.
Contracts History
There was one public contract for a Sigil BPC and a few courier contracts issued by Kalni and his alt. All were completed.
Activities
Kalni spends between 2 and 3 hours a day in-game. His main activity is trading, which he started the week he joined.
He trades mainly in one region but has recently started trading in another major hub. Station trading is his main strategy, but he occasionally buys and hauls. Orders are updated around three times a day. He believes a war dec would not affect him as he would use courier contracts where needed.
He has a few BPOs that he manufactures from.
Financial Information
Assets amount to 95m valued at Jita buy max prices.
Buy orders in escrow: 231m.
Sell orders: 176m
Cash: 117m
Net asset value amounts to 620m.
NB: There were no direct trades. The only donations were between Kalni and his alt.
Conclusion
As ever, financial records are sparse because of API pull constraints. What you see is no more than a snapshot.
Little has changed since Kalni's first offering, presumably a reflection of his lack of game time for a month or so due to a RL project.
Investors should be aware that Kalni has accepted my offer to carry out a post-performance review, which means I will retain his API keys for the duration of the bond offering.
The MD Audit Fund will pay for the audit.
Invest at your own risk.
Varo
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Lord Arbalest
Northstar Cabal
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Posted - 2010.05.03 11:13:00 -
[24]
Hey Kalni, if you don't mind I have a few questions.
In Varo's audit of your first bond, I believe your NAV was roughly standing at 325m before you began trading? It now after your first bond and some time in between stands at 620m. Rounded at around 300m profit/positive change in NAV. I assume this is partially due to you having to pay such a large interest rate during your first bond? Or have you made some personal purchases in between bonds?
I noticed you are moving to Jita to station trade now, have you done a little pre-investigation and test run trading in Jita?
I noticed Varo mention you had a slight break in your EVE time. Was this a one off personal matter? Or, something that could come up again during the duration of this bond?
All the best, and good luck with the bond.
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SetrakDark
DarkCorp Holdings
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Posted - 2010.05.03 11:18:00 -
[25]
It's unfortunate that the now near-universal expectation of an audit has pushed repeat-scammers almost exclusively into the "new trader" bond market. It's just too easy to start an account, trade a few items, make a few posts, and ask for 2b spacebux.
I believe investors will continue to take gambles on these bonds, and good for them. However, I believe they should focus their standard of evaluation on the amount of trading activity because there's little else to evaluate in these new accounts. A scammer is highly unlikely to grind away trading with a few 100m for 2 months just to steal 2b, except maybe just to be a dik, but a noob trader who enjoys the game-style would grind away for the enjoyment itself.
I have no idea where Kalni falls, but the impression I get from the trading activity does not justify being entrusted with 2b. That said, best of luck to all involved.
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Kalni
White Star Line 2010
SOLITUDE COALITION
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Posted - 2010.05.03 12:21:00 -
[26]
Edited by: Kalni on 03/05/2010 12:21:19
Originally by: Lord Arbalest
I assume this is partially due to you having to pay such a large interest rate during your first bond? Or have you made some personal purchases in between bonds?
I noticed you are moving to Jita to station trade now, have you done a little pre-investigation and test run trading in Jita?
I noticed Varo mention you had a slight break in your EVE time. Was this a one off personal matter? Or, something that could come up again during the duration of this bond?
As I stated on the first post in this thread borrowing at 20% was (in retrospect) a bad idea. I had a 4 week run with the first bond (because I borrowed from Ji sama for a week before the audit and bond money came in,
Interest was 94 mil (remember a corpmate lent me 200 mil on the same terms so this was on 600 mil loaned)
audit costs were 50 mil, and trade skillbooks were 60, so over the 4 week term of the bond I grossed about 500, but only netted about 300 mil.
The best part of one weeks play was wiped out when thieves knicked the copper wiring out of the local phone exchange, and as I mentioned a RL need cropped up about 2 weeks into the bond, so I would say the main trades were the first 2 weeks, so thats about 200 mil a week when I was "working it".
I have begun to start to use some Jita trades and yes over this past week I have been running some test trades. The 0.01 is pretty fierce 
The RL timesoak was a commitment to a friend to help deploy a server under some time pressure. The mistake was trying to do it with Ubuntu when neither of us know anything about Linux. Mt job isn't even IT so I consider that a one off.
I would say the first bond wasn't the slickest affair, but in my defence none of that impacted on investors.
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Khayos
Caldari
United Enterprise
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Posted - 2010.05.03 17:49:00 -
[27]
Hi Kalni
Since the audit some very good points (not about your bond, about investing in general) has come to me and I feel that I should hold off until I know that I have money to lose.
Sorry to waste your time.
Khayos
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Tenatz
IsTech Industries
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Posted - 2010.05.03 19:13:00 -
[28]
Although you are a bit new at this and not getting insane profits like some I am still gonna be the helpful (naive) guy and send you the money. Don't let the negative comments get to you. You have shown that you can generate enough profits to pay dividends and that is enough for me to know.
Best of luck!
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Pippgirl
Caldari
Skies Tis Moiras
Amici Noctis
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Posted - 2010.05.03 19:15:00 -
[29]
200 mill isk sent.
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max ikabon
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Posted - 2010.05.03 19:38:00 -
[30]
This is a bit a leap of faith
100 mil send
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