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Countess Oracle
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Posted - 2006.03.02 06:01:00 -
[61]
Very well put Alanix :) Really sorry I caused all this commotion.
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Adam Weishaupt
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Posted - 2006.03.02 19:42:00 -
[62]
Elange is right. When you set up your IPO, you decide how much of your profit will be dividend. Then you issue that percentage of your shares. Calculate per-share earnings, and that's per share dividend. 80% to corp, 20% divided x ways among shareholders.
The problem, then, is when the corporation wants to offer some sort of altered dividend. If I understand correctly, Countess wanted to issue 74m in profit to shareholders of 10% of the total corporation shares. In my opinion, you should just do this out of game, send out an EVEmail, and be done with it. This is a trust game, using the in-game mechanic to pay dividend guarantees nothing. Do it the easy way, and spend more time making money for the shareholders. :)
 Quote:
Option 3. Same as option 2 but with one addition. I have found a limitation in my ability to spend all this cash if it were to complete the 100K shares sold at 25k ea. This is because i dont have any more Market Slots open to buy more items until i get to wholesale skill, which first i have to get to Retail 5 and am currently training 3 to 4 with 2 days left on that. SOOOOOOOOOOOOOO I want to pause the sell offer that GPSx has up on EGSE and allow the current shareholders to buy/sell their current holdings until I get to a point in my skills to utilize the remaining funds fully. No sense in having the funds yet if i cant use them. So might as well let the current shareholders that got in at a good time the ability to let the stock increase. Who knows we may even decide to not issue anymore stock until the freighter business comes up.
Doesn't this strike anyone as abusive? You issued 100k, if you want them off the market, have someone buy them on your behalf, since you're flush with cash anyhow. Closing trading defies the whole free market spirit of this, imo. I realize RL exchange can stop trading in extreme circumstances but this doesn't strike me as one. Do the inverse split, and people will be discouraged from buying since the price will increase.
Interesting stuff, keep it up...
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Alanix
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Posted - 2006.03.02 20:39:00 -
[63]
Adam: I don't see how it is abusive to terminate an IPO early? I agree that she should do the inverse split, fix the prices/offers on EGSE, and continue taking money and issuing shares. However, if the shareholders consent to terminating or delaying the IPO, then there is nothing "abusive" about it, not that I can see. IMO she is doing the right thing--she is letting the shareholders in a public corporation make the decision, rather than deciding things without shareholder approval.
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Adam Weishaupt
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Posted - 2006.03.02 21:22:00 -
[64]
Abusive may be the wrong word. I was simply puzzled by the intention to remove a stock from the exchange simply to let its value appreciate and stop the inflow of capital. In essence, what was said is that in a little bit, she can use the extra capital, but not now, so why sell at all? Speculation! It's all part of the fun. My interpretation was that ALL selling would be closed, but on a closer reading, perhaps Countess means to only suspend further selling of the 100k initial sell order. I assume others would be free to trade?
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Alanix
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Posted - 2006.03.02 22:31:00 -
[65]
Yes Adam, I believe that was her desire: just suspend the IPO until her skills catch up. In the meantime people would still be trading on EGSE.
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Jhonen Senraedi
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Posted - 2006.03.03 03:10:00 -
[66]
Well having put in 8.5 mill prior to the vote decision etc. to secure another 340 shares and take my personal holding to 500(12.5 million worth)..I am a little perturbed to now discover that..a)The share issue has been suspended/paused and that b)I have neither received the extra shares I purchased...nor a refund of the money paid...
Personally..I would rather have the shares...and as they were bought prior to the vote etc. ..they should be at the listed price of 25k each..
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Terat
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Posted - 2006.03.03 03:51:00 -
[67]
I just purchased 100 shares for 2.5 milllion and haven't gotten any shares or a refund either. I hope one or the other comes through eventually. 2.5 mil is a chunk of change for me. I haven't been playing that long.
Terat
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Alan Bell
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Posted - 2006.03.03 04:06:00 -
[68]
Edited by: Alan Bell on 03/03/2006 04:08:39
i own 1200, 2800 incoming, i say keep system as is, to allow others to buy stocks and then STOP purcahsing of new ones, or if that is already been done, tell ppl that purcahsing has been postponed, then do what you need to do
http://coldfusion.online-guild.com |
Alanix
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Posted - 2006.03.03 04:07:00 -
[69]
The problem is that the character EGSE hasn't logged on in 24 hours. Granted, it was a hectic patch day, and Euros were pretty much screwed out of their playtime. However, I don't see how EGSE can possible succeed without a representative on 24/7. They could have three people take 8 hour shifts, four 6's, or whatever, but without a broker constantly online, I don't think the exchange will be successful.
That is not Countess' fault, however. I don't see anything posted anywhere regarding the status of the stock vote, so I would assume that the vote has not ended yet. Consequently, I wouldn't worry too much about getting your shares; I'm sure when EGSE finally does log on he will transfer all shares which have been purchase prior to the "cutoff."
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Jhonen Senraedi
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Posted - 2006.03.03 05:06:00 -
[70]
well as a current shareholder...who didn't get to vote as was trying to read all this about what exactly the vote entailed....but extended Downtime snafu'd me..
I can tell people that the vote has ended...and thus,those of us waiting to get shares...i.e buys submitted before vote ended...are thus without shares and without our investment...
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Alanix
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Posted - 2006.03.03 05:11:00 -
[71]
Jhonen, I would be astonished if Countess and EGSE did not deliver any shares that were ordered before the vote ended.
P.S. What date/time did the vote end?
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Alan Bell
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Posted - 2006.03.03 05:14:00 -
[72]
ended:
2006.03.03 00:56:00
http://coldfusion.online-guild.com |
Countess Oracle
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Posted - 2006.03.03 05:30:00 -
[73]
Originally by: Adam Weishaupt
Doesn't this strike anyone as abusive? You issued 100k, if you want them off the market, have someone buy them on your behalf, since you're flush with cash anyhow. Closing trading defies the whole free market spirit of this, imo. I realize RL exchange can stop trading in extreme circumstances but this doesn't strike me as one. Do the inverse split, and people will be discouraged from buying since the price will increase.
Interesting stuff, keep it up...
First of all Adam, you dont understand what I PROPOSED. I am not proposing to stop trading. I didnt say that. I said I wanted to stop the Corporate sale offer, and let trading continue with the current shares that are held by shareholders.
Second of all, I am not being abusive, i am simply putting something to the voters to decide which is what is suppose to happen. And that was after submitting it to the board of directors for permission to submit it to the voters.
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Countess Oracle
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Posted - 2006.03.03 05:40:00 -
[74]
I am certain that EGSE will honor all sales. Unfortunately I am still patching, going on 30 mins now so I dont even know the results of the vote as of this moment. I will of course make sure that all orders are honored and that orders such as the buy offer at 16500 do not get caught in the stock split which would be unfair.
There is no intention nor do i think there really is any possibility of anyone getting harmed in this transaction even if the votes were to halt the SELL OFFER. Everyone else that owns shares will probably be better off than they were in the beginning. They can still sell their shares and buy other shares that are put up for sale by other shareholders.
I think also that it would have been irresponsible of me not to at least inform the share holders that ALL of the original capitalization would not be making money as intended. Letting the shareholders decide wether or not to keep about 1 billion extra isk sitting in the corp doing nothing for about 2 weeks really was the only ethical option open to me.
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Alan Bell
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Posted - 2006.03.03 05:55:00 -
[75]
Edited by: Alan Bell on 03/03/2006 05:55:03
vote went down like this:
option 1: almost 0%
option 2: about 30%
option 3: about 60%
just to let you know...
so will i be getting the rest of my shares?
also, it wld interest me to know how many shares have been sold already, and who are the current top holders, and how many shares they have. (i want to be one  )
http://coldfusion.online-guild.com |
Alanix
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Posted - 2006.03.03 06:14:00 -
[76]
P.S. EGSE just filled my order. This is a first-class operation ya'll have going; he was very kind and chatted with me while filling orders. I still believe that the job of processing orders should be distributed to several people, one of whom would be online at all times to fill orders in real time. Nonetheless, a smooth, excellent transaction!
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Alan Bell
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Posted - 2006.03.03 06:29:00 -
[77]
yup, now a proud owner of 4000 shares...
hes doing the share things right now, and says countess should be able to get rid of all unowned shares
http://coldfusion.online-guild.com |
Terat
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Posted - 2006.03.03 06:55:00 -
[78]
I just got my 100 share, too. I'm looking foward to seeing how this works and buying more shares when I can afford them!
Terat
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Countess Oracle
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Posted - 2006.03.03 07:13:00 -
[79]
Originally by: Alanix
P.S. EGSE just filled my order. This is a first-class operation ya'll have going; he was very kind and chatted with me while filling orders. I still believe that the job of processing orders should be distributed to several people, one of whom would be online at all times to fill orders in real time. Nonetheless, a smooth, excellent transaction!
Yeah he is good people imo. The problem I see with having multiple people be in charge of it would be the ability to hold responsible each individual. Remember to dole out the shares, EGSE actually has 100k of GPSX and has XXXX number of shares of GSECC and XXXX number of shares of EGSE etc etc. thats one hell of a valuable character. Something has to be figured out, but not sure how to make it SAFE and still have multiple person access.
If anyone wants to brainstorm some ideas here perhaps we can come up with something.
Here are the results of the vote:
Option 1: Leave all shares as they are 0.103092783505 % (0.000999000999001/0.969030969031)
Option 2: Split stock to reduce # of shares held by corp to less than 100000 39.175257732 % (0.37962037962/0.969030969031)
Option 3: Split stock to reduce # of shares AND pause CORPORATE sale of shares on EGSE 60.7216494845 % (0.588411588412/0.969030969031)
So its definitely not a mandate, but wasnt too close either. I will remove the remaining corporate shares as of 12:00 Noon PST on March 3rd, 2006. Once I remove those shares I will split the remaining shares to all individual shareholders.
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Countess Oracle
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Posted - 2006.03.03 07:29:00 -
[80]
Originally by: Alan Bell
just to let you know...
so will i be getting the rest of my shares?
also, it wld interest me to know how many shares have been sold already, and who are the current top holders, and how many shares they have. (i want to be one )
yes you should get rest of your shares if you have an order in. AND up to the time i cancel the sell order tommorrow. I will evemail EGSE and let them know to cancel any buy orders up prior to me cancelling the order which is an automated thing i can do from the corp side of EGSE.
Top Shareholders as of right now are:
Tugako [@] 10000 shares. First Purchase: Mar 03 2006 05:28:15 Last Transaction: Mar 03 2006 05:58:05
Zoran Durrant [@] 4000 shares. First Purchase: Feb 28 2006 02:06:27 Last Transaction: Mar 01 2006 21:00:54
Alan Bell [@] 4000 shares. First Purchase: Mar 01 2006 20:50:55 Last Transaction: Mar 03 2006 05:48:18
Braendig [@] 3000 shares. First Purchase: Feb 28 2006 02:38:25 Last Transaction: Mar 03 2006 05:24:41
carraktiker [@] 2500 shares. First Purchase: Feb 25 2006 01:27:12 Last Transaction: Mar 01 2006 02:29:33
Moppeux O'Mara [@] 2250 shares. First Purchase: Feb 24 2006 18:48:31 Last Transaction: Feb 27 2006 04:37:21
Ferrosa [@] 1500 shares. First Purchase: Feb 25 2006 14:25:32 Last Transaction: Mar 01 2006 20:57:39
Sordea Mampo [@] 1300 shares. First Purchase: Feb 26 2006 22:34:11 Last Transaction: Mar 01 2006 21:09:39
Galtan [@] 1100 shares. First Purchase: Feb 26 2006 05:22:00 Last Transaction: Feb 28 2006 02:02:26
Roabea [@] 1000 shares. First Purchase: Feb 28 2006 02:13:46 Last Transaction: Jan 01 1970 00:00:00
and 45 other shareholders
The top 5 shareholders will be nominated for board memberships each week, right after dividends are issued. This sunday will be the day we issue dividends again.
Although I may put it to a vote to have the terms of the board members extended to 1 month terms so as to alleviate changing members too often.....alot of work for me to evemail each one and get their acceptance of the nomination, as well as harder for the individual shareholders to keep track of who they should contact for information or vote proposals.
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Ferrosa
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Posted - 2006.03.03 17:01:00 -
[81]
Darn, just missed board membership 
Ah well, i'll just have to live with the big dividend then 
Keep it up Countess! Hope u get that freighter soon
Convo me some time, to discuss several possible items that can be bought for scrapmetal processing, my knowledge on those things is quite extensive, but I bet yours is pretty good as well 
Cheers,
Ferrosa
Quote:
Hey there, gorgeous
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Elange4
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Posted - 2006.03.03 19:23:00 -
[82]
woah woah woah!
that was a TWO day Vote? that is not nearly enough time for a corporate-wide vote of a business of this size.
I am sure many many shareholders did not log in over the patch period, and that many are weekend players.
This is simply wrong. I protest, even tho I personally knew of it.
--Elange4
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Countess Oracle
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Posted - 2006.03.03 19:31:00 -
[83]
I am not requesting the boards permission on this vote because it involves the board itself and could be a conflict of interest. I am putting forth a vote to the full body of shareholders to extend the terms of the board of directors to 1 month instead of 1 week.
This is requested simply because the amount of time it takes each week to research current highest shareholders and to then evemail them to assure they want the position would be a great deal more work than I really want to do.
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Elange4
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Posted - 2006.03.03 19:39:00 -
[84]
Countess, if you are online right now, please answer me! The vote to split the shares was two days, over a patch period in the middle of the week.
Unless you have a very very good reason for shutting out your shareholders' rights, I must say that I will sell my shares immediatley for whatever anyone will offer me.
I own 300 GPSX shares, and I am losing confidence daily.
I will edit this response to preserve your reputation if you can publicly and quickly answer me on this problem.
--Elange4
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Countess Oracle
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Posted - 2006.03.03 20:07:00 -
[85]
Originally by: Elange4
Countess, if you are online right now, please answer me! The vote to split the shares was two days, over a patch period in the middle of the week.
Unless you have a very very good reason for shutting out your shareholders' rights, I must say that I will sell my shares immediatley for whatever anyone will offer me.
I own 300 GPSX shares, and I am losing confidence daily.
I will edit this response to preserve your reputation if you can publicly and quickly answer me on this problem.
--Elange4
First of all I think if you were to edit your response to preserve my reputation would simply make you a liar and I highly suggest you dont do that.
Second of all what the hell are you talking about. Excuse my french but I cant even log in. When I get to Character selection and choose countess to get in, all I get is a message saying "You are currently in Kisogo and that region is starting up. Please try again in a few minutes." That has been going on for several hours.
Third, what exactly am I doing wrong to wreck my reputation? I will split the stock at the time I said I would split the stock when I am capable of getting into the game to do so. The fact that the game is not allowing me to enter should not be a reflection on my reputation and to be honest I am kind of insulted by your post.
As for your shares, sell them, I think there is still a buy order up on the market for 16500. Thats a decision you should make and should not really consult me on.
If my post appears as though I am ****ed off, perhaps that is the case. I cant get into the game and I read a post from you that indicates I have done something wrong and need you to cover my ass. Sorry but I dont feel that is the case.
Good Luck with your investment.
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Alanix
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Posted - 2006.03.03 20:14:00 -
[86]
Whoa there, everyone needs to calm down just a bit. It would be a good idea to make future votes last for at least 5 days, to give everyone time to vote. Still, there is no reason to be so virulent and bitter Elange. You are losing confidence in Countess because she held a two-day vote instead of a 5- or 7- or 10-day vote? It isn't like she's trying to screw you over, she probably didn't even think about the duration of the vote and just put in two days because it sounded good.
Countess, you have a long wait. About 10% of the systems in Empire are not functioning right now. I have a character stuck in another system, so I decided to log off and take a nap ;)
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Countess Oracle
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Posted - 2006.03.03 20:17:00 -
[87]
Your character is located within (Kisogo), which is currently stuck.
Please select a different character or try later.
This is the message I am getting. I will split the stock as soon as I can possibly get in. Until I get in and am able to cancel the order on the EGSE then all shares that are sold until that time will be honored regarding that sale and the stock split.
As for the post from ELANGE4, I now see his previous post that I missed. His complaint I think is that there was not enough time given for a shareholder vote. Its an option in the game on how long to vote. If he would like a revote on the subject, I suggest he take the time to contact the board of directors, as have been named here on this thread, and request that they stop the sanctionable action and revote.
Other than that, the power of the shareholder vote will remain in effect. I cannot go against a shareholder vote on my own. Using any excuse, even my bad planning, although I had no clue they were patching or that they would have a horrible time doing so, would be an open door to abuse of power and I WILL NOT DO THAT!
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Countess Oracle
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Posted - 2006.03.03 20:41:00 -
[88]
Originally by: Alanix
Countess is right; the vote cannot be rescinded by her alone--if she rescinded this vote she could do so with any vote. I don't think Elange is upset at the results of the vote, I think Elange is just concerned that all shareholders may not have had the opportunity to vote.
Perhaps we can set a minimum duration for shareholder votes in the future. Would five days be acceptable, Elange? Countess, would that be okay with you?
Certainly!
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Elange4
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Posted - 2006.03.03 20:43:00 -
[89]
No, I have had enough; cooling off will not help.
I apologize to all for the nature of this post; yet conscience dictates I must respond as follows:
Countess, two days is not enough time for a corporate vote: Plain and simple. I understand this is new territory for all concerned.
I am not a liar. You just called me such, and even posted that you had not read my posts before doing so. I did not see you in-game, so I could not ask you personally what was happening, but I saw your post on the forum 45 minutes ago. You do not even see the respect I was giving you by the offer to edit my post here.
This is a public forum, and I wanted to give you a chance to address your rash behavior and unclear communication.
Forget it. This is a serious serious breach of coporate responsibility and it's accountability to shareholders.
I shall sell my shares at the earliest opportunity. I can see no way to renew any belief in this undertaking's success: even if it is a success I will regret making a profit at the expense of respect and the business like approach that should become standard to any new public Eve company... This is an exciting time, but rampant enthusiasm on my part, your part (Countess), or the investing public will only kill the market in it's infancy.
All that being said, Investors, Be Warned: this is a billion dollar plaything of a Newb who understands neither Eve nor business in the Real World. That, and she will quickly run out of basic item to re-process on the market, and will have to change her business plan. In light of those two sentences, you are treading on thin ice.
--Elange4
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Countess Oracle
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Posted - 2006.03.03 20:59:00 -
[90]
roflmao
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