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cosmoray
Cosmoray Holdings Corp
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Posted - 2010.09.14 22:36:00 -
[1]
15 minutes as an auditor then straight to a 15B ISK IPO.
You are also not very keen about an audit (not that I think it helps).
Too much, too soon
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cosmoray
Cosmoray Holdings Corp
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Posted - 2010.09.17 02:09:00 -
[2]
Nice to see your sticking to your original terms of the IPO that attracted the investors.
Let me now put this IPO in nice plain MD Cosmo English.
OP's terms
1. Highly speculative IPO worth total of 15B (5B of OP money) 2. High risk/high reward or loss 3. Change terms to zero dividend payments 4. Share trading only 5. You provide reports until close out for total accumulated pot 6. You announced that you would like to be able to run larger pools of ISk to better manipulate market
Translation
1. I am launching a high risk 15B ISK IPO 2. No audit, or someone who will pass me easily that I can show I have sufficient cash to do this 3. After 1 month I have done awesome turning it into 18B ISK and just paid everyone out, which is a 20% 1 month return I am a god. BTW my results won't be able to be verified by audit because they might steal my secrets. 4. Now announcing a 40B high risk IPO growth fund of which I am holding 10B in shares. 5. After 1 month the fund is worth 46.8B ISK, but I am afraid will not be verifiable by audit. Confidentiality, you know how it is old boy. 6. Month 2 fund is at 61B ISK. 7. Share trading has been rather brisk with share value up by a third. 8. Please pay no attention to my alts who have secretly been selling my shares at inflated values. 9. I have sold all my shares and STFU suckers, I made 46.2B ISK for about 12 MD posts. 11. I am an MD SCAM god!!
Anyone who even thinks about investing with these change of terms needs to be shot. Biggest red flags for investing you will ever see.
Obvious scam is obvious.
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cosmoray
Cosmoray Holdings Corp
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Posted - 2010.09.17 14:55:00 -
[3]
emorage quit.
There goes a CEO and auditing career.
When will people learn not to be emotional and deal with the problems. The problem with this is that OP moved from a difficult (but not impossible) to fill IPO due to very hard circumstances (new player, too much cash, no defined business case) to a new IPO that was classic SCAM material (new player, no dividends just growth, wants to expand) within the launch.
As soon as people state they don't want to pay dividends, it usually means they don't want to part with any of the cash they have brought in. Scam alert.
The faces may change but over the last 4 years (for me anyway), the signs always remain the same.
I would say that MD has become pretty good at avoiding the immediate scams (money lost after day 1), but loses sight of its vigilance when proven managers start to expand. As a rule I never take up shares in any players expansion.
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