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EMFi Manager
EvE Mutual Fund Inc.
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Posted - 2006.08.13 17:36:00 -
[1]
Edited by: EMFi Manager on 13/08/2006 17:41:08
Good post Mung,
I understand how you feel and why you do this.
I hope that EIB is allowing you to unlock these prints so you can sell and liquidate, and I hope you won't run of with the proceeds instead of paying out dividends. I also hope that EIB will payout everything to the shareholders with a minimum of 75%.
This war of UEMA vs EIBI has gone on too long. And I am glad it is over and hope the shareholders aren't going to be the victim here.
/me tips hat.
Alt of Naphtalia
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EMFi Manager
EvE Mutual Fund Inc.
|
Posted - 2006.08.13 17:47:00 -
[2]
ok..
Mung, have you talked about this process with an EIB rep? or will they want to liquidate it themselves?
Alt of Naphtalia
Visit my investment site |
EMFi Manager
EvE Mutual Fund Inc.
|
Posted - 2006.08.13 17:57:00 -
[3]
Before I leave this thread...
one VERY imporant issue...
what I miss in your procedure is you returning the 3000 UEMA shares you "took" from the corp to your main without paying for them. I am sure you will move those back to corpwallet before you pay out dividends and you don't expect to receive 3bil bonus "for your troubles" while the shareholders are going to be losing out between 10% and 80% of their investments?
I certainly hope that was an oversight.
Faithfully, EMFi
Alt of Naphtalia
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EMFi Manager
EvE Mutual Fund Inc.
|
Posted - 2006.08.13 21:37:00 -
[4]
 Originally by: Mung Lore
I would get isk from the dividends just like everyone els.
Yes I know, I am not contesting you getting DIVIDENDS but do you think you should get 10% of the liquidated funds? pocket 3bil for your efforts in this failed operation (failed not becuase of you but still failed)?
You are quiting so your dividends should stop don't you agree? and the shares should be returned?
Yours Faithfully EMFi!
Alt of Naphtalia
Visit my investment site |
EMFi Manager
EvE Mutual Fund Inc.
|
Posted - 2006.08.14 16:09:00 -
[5]
Originally by: Eilene Fernite
As UEMA's liquidation appears to be a direct result from the EIB failing in executing it's IPO insurance contract, you do have a position in their relationship. As the auditor, you should have the details on exactly what assests the EIB holds in EUMA.
If I had full details of what EIB holds the audit would have been finished weeks ago. As posted a lot earlier the audit is on hold pending Cally logging in.
Originally by: Eilene Fernite
Also, you offering to buy EUMA's bpos is making it look like you're trying to take advantage of the end of a corporation <<snip>>. It's good business, but not exactly good publicity.
I am not here for charity, I will take advantage of any bankrupt corporation if that means I can make more profit for my shareholders. Profit for my shareholders should be a CEO's driver, even if that means poluting the galaxy and blowing up moons full of orphans. In my book Good business = good publicity.
Quote:
a corporation that you yourself have helped take down
I really dislike this unfounded accusation. There is nothing I have done or could have done that would have gauranteed a different outcome of situation with UEMA. However on a more general term. If killing a business (ie: a competitor) would mean more profit for my shareholders it will *definately* be something I'd consider. However EMFi has invested in UEMA, and we stand to lose a lot of profit on the FAILURE of Mung Lore's project.
Alt of Naphtalia
Visit my investment site |
EMFi Manager
EvE Mutual Fund Inc.
|
Posted - 2006.08.14 17:23:00 -
[6]
Originally by: Eilene Fernite
Quote:
However on a more general term. If killing a business (ie: a competitor) would mean more profit for my shareholders it will *definately* be something I'd consider. However EMFi has invested in UEMA, and we stand to lose a lot of profit on the FAILURE of Mung Lore's project.
So you would screw over shareholders in a corporation just to further the interests of your own shareholders? Perhaps you should've said that before you started the EIB audit. It sheds a whole new light on your supposed neutrality and trustworthyness.
If I am asked to do an audit it is in the best interest of my shareholders to be impartial, neutal and thourough, because my reputation is on stake and my reputation drives my shareprice. So what you write there doesn't make sense
But if you ask me straight up, the following scenario:
1) EMFI owns a big stake in a corporation that produces in Sharlehud
2) A Competitor comes into the area and starts to undercut prices and hurting my returns
3) Would I consider hiring a merc outfit to kick them out?
The answer would be a sounding yes. EvE is a dark world and a dark game. Corporate pvp happens, and using part of my isk to hire a merc corp to kick them out or kill that competing industrial corp would be something I would consider if the price is right and the profit validates it.
I am not Santa Claus, I am a business man that has to maximize his shareholders returns.
Alt of Naphtalia
Visit my investment site |
EMFi Manager
EvE Mutual Fund Inc.
|
Posted - 2006.08.15 00:20:00 -
[7]
Originally by: Kitty O'Shay
End the audit. You can say there was "insufficient data to form any conclusions" if you must. But the longer EMFI lingers, the worse it looks.
I have never made a secret about the following:
1) Cally hasn't logged in for any substantial ammount of time since the audit started
2) For stated reasons I require Cally's cooperation in-game
3) This hasn't happened yet in the 6 weeks the audit has been running
4) I have gathered a lot of information in the last 6 weeks.
Me declaring the audit "over" doesn't change a thing there. Any intelligent person can make conclusions based on this. I feel I am still doing valuable work and I am still finding out truths every day.
I have got a clue where Cally is, and as soon as I find out if he will get back into the game (should know before next monday, hopefully sooner) I will make the decision wether to give up.
I am wondering how stopping the audit now will help, if you can explain I will consider it.
-----------------------
As for UEMA vs EIB, I am only a concerned shareholder of UEMA as proven by my 500k in chatlogs I managed to gather trying to help him make his venture the most succesful one..
Quote:
As for being involved in UEMA's failure, I think there's some blame to be laid at EMFI's feet. When the EIB "corp theft" happened, EMFI was in place to take control of the stolen UEMA assets and shares. Why didn't this happnen? Then EMFI would've been the trustee and a lot of the trouble avoided.
I seriously don't know what you mean there. I never had access to UEMA's stolen isk or shares, nor were there ever any UEMA shares stolen.
I think you are confused with the stolen EIBI shares which I hold in my wallet. I also don't know how I could ever get control of the stolen assets and shares?
Could you clarify this paragraph?
Alt of Naphtalia
Visit my investment site |
EMFi Manager
EvE Mutual Fund Inc.
|
Posted - 2006.08.15 00:26:00 -
[8]
Also like I have stated in one of my replies above...
Even though I admit to be willing to do corporate pvp to better my shareholders.
It is crucial for me to remain neutral, impartial, patient, fair, strict and dilligent when doing an audit or checkup. My shareholder value is directly linked to my trustworthyness. I would never cheat in an audit to enrich myself or my shareholders. If found out, that would hurt my shareholders more due to loss of confidence then the gain I could get from it.
I would accept a loss as a CEO in order to not cheat because a loss can be easilly recovered (only a month missed dividend) where a scandal could cost my shareholder 6-7k/share.
I guess till the full truth is out however noone will ever know, but I have confidence in myself that I am still doing the right thing. and I have consulted with some trusted individuals on the current status and my options for sanity purposses.
Faithfully, EMFI
PS: the gist of this post is: Even though I would do corporate pvp, I would always be neutral as a auditor or broker because my name means share value for my shareholders.
Alt of Naphtalia
Visit my investment site |
EMFi Manager
EvE Mutual Fund Inc.
|
Posted - 2006.08.15 00:34:00 -
[9]
In light of the recent post by Kal I will declare the audit over and failed and will publish a report in due time.
Alt of Naphtalia
Visit my investment site |
EMFi Manager
EvE Mutual Fund Inc.
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Posted - 2006.08.15 02:01:00 -
[10]
Originally by: Kristin Bergljot
Originally by: EMFi Manager
Edited by: EMFi Manager on 15/08/2006 00:36:28EDIT: If anyone has any burning questions, I will consider answering them if I feel they can be answered outside of the context of the report.
Just one. Whose alt is Kal D'vogh?
I will talk to Kal tomorrow about this.. as of this moment I have no reason to disclose his main character, nor does it really matter too much.
His 'main' plays for a pvp corp as do many mains of corps of EIB/EIBI and EMFI.
I haven't been able to talk to Kal yet, but received some nasty evemails of another EIB employee, I choose to talk to Kal first and I am tired and I Am probably not making any sense :S
Alt of Naphtalia
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