| Pages: [1] :: one page |
| Author |
Thread Statistics | Show CCP posts - 0 post(s) |
Liberty Eternal
   |
Posted - 2010.11.12 01:29:00 -
[1]
Edited by: Liberty Eternal on 12/11/2010 01:41:39
This is an update and apology to the 4 people who invested in my trading bond earlier this year.
This was a 2 billion isk bond with 4 investors making 500 million isk investments each, repaying at 31% for an individual total of 655million per investor and was due on 5th April. However, my computer broke and my replacement laptop was unable to run the DirectX9.0 shader model. I have now finally got a desktop gaming PC.
Here is a link to the bond offering.
http://eve-search.com/thread/1279950/page/1
So first of all, a massive apology to everybody involved in the bond - particularly my 4 investors Decidivus Jones, Varo Jan, Triffid Piemuncher and Nin Kimrov. I'm very sorry and I hope it was not too demoralising or disruptive.
Also, an apology to all of you in MD for my failure to anticipate this risk which lead to a failed public offering, which lowers market confidence.
Repayment - 655 million isk sent per investor
The agreed return was 655million isk and this became due on April 5th 2010, meaning the bond is 7 months late in paying back. So clearly there is some liability on my behalf to pay some compensation/interest for those 7 months.
I am currently holding around 3.4 billion isk in cash and have 1-1.5 billion in stock. What I have therefore proposed to my investors is that I repay the principal and initial interest of 655million immediately, then pay compensation of around 50 million per month towards the end of November [by then it will be an additional cash payment of 400 million isk per investor] when I have traded and have the cash.
The total proposed compensation package for the failure of the bond will therefore stand at 1.6 billion isk, in addition to the 2.62 billion bond repayment of principal and interest that I have already returned.
Compensation/Damages - 400 million isk offered to each investor
All 4 investors have received their 655million back, I am just waiting for an agreement on the settlement. I will update this thread when I have heard back from all investors.
Repayment sent to all investors
Nin Kimrov - confirmed receipt of principal/interest and happy with compensation terms
Triffid Piemuncher
Varo Jan
Decidivus Jones
|
Breaker77
Gallente
Reclamation Industries
|
Posted - 2010.11.12 01:43:00 -
[2]
Welcome to the new and improvedÖ MD!! Where the old posters you knew have moved on and new faces have appeared.
Oh and if you missed it, you have some catching up to do with EBank and Bad Bobby 
|
Nin Kimrov
Minmatar
Kenzi Arms and Munitions
|
Posted - 2010.11.12 01:49:00 -
[3]
Edited by: Nin Kimrov on 12/11/2010 01:49:55
I confirm receipt of principal and interests. (655 millions)
I also confirm that I agree with the suggested compensation terms.
Happy to see you back, and yes, you missed alot :P
|
ForumWarrior
|
Posted - 2010.11.12 01:50:00 -
[4]
When roleplay goes wrong, tonight at 5!
---
ôThere is a powerful tension in our relationship to technology. We are excited by egalitarianism and anonymity, but we constantly fight for our identity.ö |
Taram Caldar
Royal Black Watch Highlanders
Warped Aggression
|
Posted - 2010.11.12 01:51:00 -
[5]
Welcome Back, Liberty! Very respectable of you to honor your debt and even pay compensation to your investors.
Market Alerts Mailing List
|
Nathan Jameson
|
Posted - 2010.11.12 04:15:00 -
[6]
With ethics like these, it won't be hard finding investors for the future.
Let me know if you decide to start up a new one. 
|
Mme Pinkerton
United Engineering Services
|
Posted - 2010.11.12 08:25:00 -
[7]
You're back \o/
|
RAW23
|
Posted - 2010.11.12 09:37:00 -
[8]
Welcome back!
Let the Randianisation of MD recommence!
|
Triffid PieMuncher
|
Posted - 2010.11.12 10:11:00 -
[9]
Fair play to you Liberty. I'm sure the other three, like myself had written this off quite some time ago.
I had decided that the investment market was not for me since I thought I had got this one so wrong but maybe I will re-consider after all.
Confirming receipt of 655M thanks. Happy with any compensation arrangement you want to make. In truth though, knowing my judgement perhaps wasn't so bad after all is compensation enough.
Welcome back to Eve.
|
Ave Volta
Red Frog Investments
Blue Sky Consortium
|
Posted - 2010.11.12 23:08:00 -
[10]
Edited by: Ave Volta on 12/11/2010 23:09:14
Hey I remember the 31% bond charity bond. Look like it worked out to 4.4% per month instead which is more in line with typical offerings 
Nice of you to not just disappear.
/edit typo
--------------------------------
chown -R us:us /yourbase |
Decidivus Jones
|
Posted - 2010.11.16 04:14:00 -
[11]
I too confirm receipt of principal and interests. (655 million), and I have no problem with the suggested compensation terms.
I had admittedly just about lost faith, but I am quite happy (aside from the money) to see that my original estimation of your character was correct.
Many thanks!
|
Liberty Eternal
|
Posted - 2010.11.16 05:54:00 -
[12]
That's good, now all four of my investors have confirmed receipt of the repayment and that they are happy with the compensation plan [Varo Jan confirmed and agreed in-game through evemail].
Thanks everyone for your comments, I read and appreciated all of them 
And especially thank-you to my four investors for their kindness and for accepting the compensation settlement without a fuss.
I will pay the settlement out on the 30th November. I will put up a final post on that day announcing the closure of this bond.
Until then, good luck and have fun
|
Helmh0ltz
|
Posted - 2010.11.17 06:37:00 -
[13]
+9001 Market Discussion reputation points. Good luck with your future endeavors.
======
Your signature is freakishly huge for this forum. Please resize according to the forum rules, thanks. Shadow. |
Nemi Lethal
Gallente
DarkStar Armada
|
Posted - 2010.11.17 14:28:00 -
[14]
Good Show
|
Liberty Eternal
|
Posted - 2010.11.30 15:30:00 -
[15]
Compensation has been sent today as agreed. 400 million isk each to Nin Kimrov, Triffid Piemuncher, Varo Jan and Decidivus Jones. My thanks again to my investors, they have been great to me and I look forward to working with them again in the future.
|
Nin Kimrov
Minmatar
Kenzi Arms and Munitions
|
Posted - 2010.11.30 22:10:00 -
[16]
I confirm reception of 400 millions.
Just send me a evemail for any future projects you may have.
|
Charon Jones
|
Posted - 2010.12.01 02:39:00 -
[17]
Edited by: Charon Jones on 01/12/2010 02:41:14
I confirm receipt of 400 million. You have handled this in a truly professional manner, and I look forward to doing business with you again.
Decidivus Jones
|
Decidivus Jones
|
Posted - 2010.12.01 02:51:00 -
[18]
I confirm receipt of 400 million. You have handled this in a truly professional manner, and I look forward to doing business with you again.
Decidivus Jones
|
| |
|
| Pages: [1] :: one page |
| First page | Previous page | Next page | Last page |