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Morton Summers
NIWTHID Corp.
1
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Posted - 2015.07.18 19:23:40 -
[31] - Quote
Koniforous wrote:I'm pulling out. But for the record, I have gambled on jita games and if I lose isk I dont calculate those funds when determining my NAV or monthly interest payments so that my investors dont suffer. That's where some of the "adjusted" NAVs have come from. If I win, I do add that into the pool so me and my investors both win. Consider doing the same. I'm only pulling out because the last 2 lines in that pastebin I dont like, not because you played jita games
Fair enough. I don't believe I ever received Isk from you in game. If you sent me Isk via an alt, please contact me through that alt and I'll take care of things. Otherwise, I guess our business is concluded. I appreciate you expressing interest at least for a small point of time.
In addition, it's worth pointing out that the line "Probably not a scamGäó" lies in the original post and all of my Jita advertisements have been made with similar levity. Make of it what you will.
Anyways, I'm sorry we couldn't continue to work to together. If you ever change your mind, feel free to let me know. I'll still be here :) --Morton Summers |
Koniforous
Tauren Transit
254
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Posted - 2015.07.18 21:53:27 -
[32] - Quote
For sure ill keep track of what you're doing here and chime in with my 2cents once in a while. Good luck!
TAUTX: Private Bank & Lending
TAUTX: Collateral Liquidation / Discount Items
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Koniforous
Tauren Transit
254
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Posted - 2015.07.18 23:10:11 -
[33] - Quote
Morton Summers wrote:Rilati Kansene wrote:-Note - ISK doubling in Jita local definitely up there on the top of the list towards encouraging a very serious lack of enthusiasm from actual potential investors ..shrug.. http://pastebin.com/mgHBTkBC For the record, I wasn't scamming. I was playing a game with Mr L Shiyurida based solely in personal money as a way to kill time while orders came in. I occasionally through some of my personal money around as a form of entertainment. I have not, do not, and will not waste any money entrusted with me by others in such foolishness. I will be happy to verify this if anyone doubts me. However, I understand this looks bad and if anyone wishes to pull their investment because of it I will honor my past commitments and buyback their shares at 1m a piece. In other news, there are now 18 investors and a total of 1.3 bil in the corp. I have 390 more shares I am willing to sell after which I will not be selling more until I am confident I can maintain consistent profitability.
I would like you to explain the contract issued by you to a pilot in Jita, an Imicus worth maybe 400k isk, contracted for 100mil, found in your contract history.
Was this your successful attempt at scamming newbs in Jita?
I have highlighted some key words stated by you, and want to point out that while using investors' isk to scam SUCCESSFULLY isn't entirely bad, it does show that you might scam your investors eventually....
TAUTX: Private Bank & Lending
TAUTX: Collateral Liquidation / Discount Items
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Avi Shekelstien
New Order Logistics CODE.
4
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Posted - 2015.07.19 12:05:24 -
[34] - Quote
I'm amazed people are considering investing with someone who gets "principal" mixed up with "principle". |
Morton Summers
NIWTHID Corp.
1
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Posted - 2015.07.19 14:23:14 -
[35] - Quote
Koniforous wrote:[quote=Morton Summers]I would like you to explain the contract issued by you to a pilot in Jita, an Imicus worth maybe 400k isk, contracted for 100mil, found in your contract history.
Was this your successful attempt at scamming newbs in Jita?
I have highlighted some key words stated by you, and want to point out that while using investors' isk to scam SUCCESSFULLY isn't entirely bad, it does show that you might scam your investors eventually....
Haha, while that looks like a scam in retrospect, it wasn't really one in the traditional sense. I advertised the contract in Jita local as an "ASPIRING DOMINIX(tm)" with an associated rhetoric that made it clear it was a very bad deal. The person who ended up completing the contract bought it because they were amused with what was going on not because they were tricked. Afterwards, I promptly contacted them explaining that the contract was not meant to be completed and offered to either refund their money or give them 100 shares in the corporation. They elected to get 100 shares and are currently one of my investors. If you wish me to put you in contact with them, I can look into doing so and they will verify this story.
Also, to Avi, I'm only human. I make typos like everyone else. |
Morton Summers
NIWTHID Corp.
1
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Posted - 2015.07.20 05:26:21 -
[36] - Quote
Hi! I've finished selling my initial round of shares. As of right now, we have 22 investors and a principle of 1,505,000,000. If things go well in the coming weeks, I might start selling more shares.
An update on the buyback situation: I am changing my guarantee to be that I will buy back shares for 750k from any individual no questions asked. I will continue to buy back shares from original investors for the 1 mil in accordance with my earlier guarantees.
A big thanks to everyone who invested money with me. Hopefully things will turn out well in the coming weeks. :) I will keep this thread updated with any changes that occur. --Morton Summers |
okoolos rimmer
Napkin Nation
114
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Posted - 2015.07.20 18:16:35 -
[37] - Quote
Let me get this straight. A Random dude with no past MD history posts a convulted business plan involving some magical shares, collateral and a spreadsheet aka "propriatary software". He offers to find prrofitable items to trade and then divulge that secret? And people are actually buying this?
1) Open google docs and google ImportXml. 2) Pull jita buy price from eve-central. 3) pull jita sell 4) substract 5) Add fancy colors 6) Optional: add different hubs.
Voila. You got yourself priopriatary software.
Feel free to send 50 mil shares err isk to me. Please include buyback/api key/ROI/double down/IPO/on tilt or any other fancy term as reason. |
Darion Maken
Deep Core Mining Inc. Caldari State
2
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Posted - 2015.07.20 18:38:26 -
[38] - Quote
This will prove interesting to see play out. I'm in agreement with Okoolos. Shocked you found 22 people to give you 1.5 billion on something so nebulous. But I'll look to the bright side - it isn't that much ISK divided across 22 people. I hope you all get rich off this.
Darion |
okoolos rimmer
Napkin Nation
114
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Posted - 2015.07.20 18:58:14 -
[39] - Quote
To be fair in a way you have to admire the op. Instead of scaring people by asking for huge amounts of isk from few people he went the other "retail way" and asked for little from a lot. He also made the "share payback" system so complicated and convulted everyone is talking about that instead of looking at the fundamentals. Everyone here seems to be so obsessed with how the share system will work they're forgettting to ask where will the actual money came from. Either way this will be a fun and a bumpy ride for all involved. Thanks for entertaining us!
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Koniforous
Tauren Transit
254
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Posted - 2015.07.20 19:07:35 -
[40] - Quote
It does look like a scam, but at best I'm hoping its just a poorly thought out business model by an honest borrower. It does seem to be getting better ;)
EDIT: He's putting in a lot of work, so we probably wont see him scam 1bil, maybe 10, but I'm hoping this is legit because I wish more people would use shares!
TAUTX: Private Bank & Lending
TAUTX: Collateral Liquidation / Discount Items
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Cista2
Phoibe Enterprises
128
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Posted - 2015.07.21 21:56:16 -
[41] - Quote
The OP now says sold out. Can you please give your investors some indication of dividend payment schedule?
My channel: "Signatures"
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Recommended: "The Biomass Bar" (for corpse selling)
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Morton Summers
NIWTHID Corp.
3
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Posted - 2015.07.22 17:38:16 -
[42] - Quote
Cista2 wrote:The OP now says sold out. Can you please give your investors some indication of dividend payment schedule?
Sure! From this point forward, I will be issuing dividends once a week sometime between Monday and Wednesday. I'm defining a three-day range so that there's time to liquidate enough to issue the dividend. The dividend will be calculated and issued as I've said earlier. I'm still not sure how big the dividends will be. The dividend I issued yesterday (or maybe two days ago...) was 300 mil in total, so the dividend next week will most likely be a bit larger. |
Morton Summers
NIWTHID Corp.
3
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Posted - 2015.07.29 05:14:03 -
[43] - Quote
Hi everyone!
This week I made around 500 million in profit which I just sent out as a dividend. I also completed enough of my proprietary software for it to be able to start making recommendations on items to station trade on. Since I started using it, I noticed the profits increase substantially so there will probably be a larger dividend next week.
Our net worth is now roughly 2 billion and I can now increase the guaranteed buyback rate to 850k/share. The 1 mil/share rate still stands for original investors.
Cheers! --Morton Summers |
Cista2
Phoibe Enterprises
128
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Posted - 2015.07.29 07:48:09 -
[44] - Quote
Thanks.
To those outside looking in at this thread, I can inform that the recent investors have sso far received dividends tallying app. 13% of their investment.
My channel: "Signatures"
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Recommended: "The Biomass Bar" (for corpse selling)
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Morton Summers
NIWTHID Corp.
3
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Posted - 2015.08.12 16:55:24 -
[45] - Quote
Hi all!
This past week and a half, I have been incredibly busy which has prevented me from putting as much time into the corporation as I would have liked. Because of this, last week I was only able to issue a 400 mil dividend and over the course of this week I was only able to make 100 mil.
Because of the small profits this week, I will not be issuing a dividend until next week. If investors would rather I issue the 100 mil immediately, I will do so.
Fortunately, my schedule has cleared up so things should return to normal by next week. Furthermore I'm looking into getting a second person to help manage the corporation so scheduling conflicts don't hurt performance. I will keep this thread posted if I make any notable changes.
In other news, the corporation is now worth enough that I can guarantee a 1 mil buy back price for every share with no restrictions which should simplify things substantially.
Regards, --Morton Summers. |
Koniforous
Tauren Transit
265
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Posted - 2015.08.12 17:48:09 -
[46] - Quote
Switch to a monthly or bi monthly dividend payment, this will make your life so much easier.
TAUTX: Private Bank & Lending
TAUTX: Collateral Liquidation / Discount Items
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Kyra Lee
Ixian Machines TOG - The Older Gamers Alliance
4
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Posted - 2015.08.12 19:37:05 -
[47] - Quote
I would be interested in purchasing some shares if you ever decide to make some more. |
Koniforous
Tauren Transit
265
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Posted - 2015.08.12 20:38:05 -
[48] - Quote
How will you accomplish having someone else help you with the corporation?
TAUTX: Private Bank & Lending
TAUTX: Collateral Liquidation / Discount Items
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Morton Summers
NIWTHID Corp.
3
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Posted - 2015.08.15 03:42:42 -
[49] - Quote
Koniforous wrote:Switch to a monthly or bi monthly dividend payment, this will make your life so much easier.
After doing this a few weeks, I think you are definitely right. I'm going to switch to issuing a dividend every other Monday (with a few days of leeway on either side to allow for necessary liquidation). As of right now we are on track for a relatively large dividend next Monday, so that will be the first dividend on the new schedule. There will be another dividend two weeks from this Monday and so on. I'm going to see how this works out, I may need to switch to monthly dividends later on.
Kyra Lee wrote:I would be interested in purchasing some shares if you ever decide to make some more.
I am not currently selling shares. Things are currently going pretty well, though, so issuing more shares is definitely something I am considering. The one issue I will need to work out is how to ensure current investors don't get their dividends diluted by issuing more shares. Ostensibly, having a larger principle will result in proportionally larger profits and then the dividend per share will remain confident, but I'm not quite sure how accurate this will be in practice.
Koniforous wrote:How will you accomplish having someone else help you with the corporation?
I currently have talked with someone who is helping me develop the proprietary software. They do not currently have any access to corporation funds.
If I decide to give someone else access to a portion of the principle, I will be fully transparent and post here explaining what has happened. My theoretical plan for giving someone access to a portion of the principle and letting them help me make trades is as follows: 1) I will create a subsidiary corporation on an alt 2) All of the shares of this corporation will be owned by NIWTHID (which is what makes it subsidiary....) 3) Any person I bring on board will be made a member of this second corporation and given access to a single wallet division 4) The amount of Isk I will let them be responsible for will be transfered to the appropriate location. I will keep track of their progress and periodically transfer a portion of their profit to NIWTHID to be issued as a dividend. 5) At least initially, I will ensure that the amount of Isk this person will be managing is less than the amount of Isk I have in my personal wallet. That way, if they wind up not being trustworthy and steal from the corporation, I will be able to make up the difference. The reason for making a subsidiary corporation is to ensure that if the person I bring on board purchases stock, they are not in a position to force a vote to take over as CEO.
Again, note that as of now this remains theoretical. If I decide to actually go through with this, I will be fully transparent and keep this thread updated. --Morton Summers |
Cista2
Phoibe Enterprises
145
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Posted - 2015.08.15 06:42:17 -
[50] - Quote
Confirming having received 3 dividends so far.
My channel: "Signatures"
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Recommended: "The Biomass Bar" (for corpse selling)
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Cista2
Phoibe Enterprises
155
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Posted - 2015.08.28 08:23:10 -
[51] - Quote
Noticed today that a dividend was again received on the 24th, without any bravado. This means that I have to date received close to 50% of my initial investment back, on dividends alone.
Much appreciated, keep up the good work!
My channel: "Signatures"
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Recommended: "The Biomass Bar" (for corpse selling)
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Bad Bobby
Bring Me Sunshine In Tea We Trust
1026
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Posted - 2015.08.29 11:58:24 -
[52] - Quote
If it wasn't for our roving financial news reporter, Cista2, I would have no idea if this was going well or not. |
jam pan
Aliastra Gallente Federation
6
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Posted - 2015.08.31 09:50:38 -
[53] - Quote
I bought 10m in shares pre split. I then rushed in after the split and got another 190 shares, for a total of 20m investment and 240 shares (I think, I haven't, like, counted.) To date I;ve received more than 120m in dividends, so I could cash out right now and come out ahead if I wanted to. Definitely going well, Cista2 is not being paid for their statements :P. AFAIK...... but Cista is reputable, so obviously not.... although.... teeheehee |
Morton Summers
NIWTHID Corp.
4
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Posted - 2015.09.19 21:49:48 -
[54] - Quote
I am putting the corporation on hold until mid to late October.
I've been really busy these past few weeks and haven't had the time to effectively grow the corporation. My schedule should normalize between mid to late October and then I will resume my trading efforts. I will post an update here when this happens.
I have fully liquidated the corporation's assets and have enough cash on hand to buyback all shares at 1 mil each. If you want to sell your shares, please contact me via EVE Mail and I will be happy to buy your shares back. When I can start managing the corporation agin in October, I will sell all the shares I have bought back.
A huge thanks to everyone who has invested with me so far. Hopefully things will still go well once I get more time. :)
Regards, Morton Summers |
Cista2
Phoibe Enterprises
168
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Posted - 2015.09.19 22:36:10 -
[55] - Quote
I'll stay in, see what happens in October.
My channel: "Signatures"
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Recommended: "The Biomass Bar" (for corpse selling)
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Morton Summers
NIWTHID Corp.
4
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Posted - 2015.10.23 23:24:59 -
[56] - Quote
Hi everyone! It's been a couple weeks and my schedule has cleared up enough that I've resumed trading. I've been trading for about a week (and a few long-term investments matured) so I'm scheduling a dividend for this upcoming Monday, October 26.
I have received several messages about buying additional shares. I was planning on selling the bought back shares, but unfortunately (or perhaps fortunately) no one sold their shares so I do not have any additional shares to sell. I may consider issuing more shares in the future, but I would like to turn a profit for a few more weeks and iron out some kinks to my trading strategy before expanding.
Regards, Morton Summers |
Cista2
Caldari Provisions Caldari State
174
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Posted - 2015.10.24 11:13:02 -
[57] - Quote
Welcome back :)
My channel: "Signatures"
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Recommended: "The Biomass Bar" (for corpse selling)
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Zerinia
Alliance of Free Stars
14
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Posted - 2015.10.24 21:16:45 -
[58] - Quote
Welcome back. I look forward to my dividends :) |
Morton Summers
NIWTHID Corp.
4
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Posted - 2015.10.26 00:39:19 -
[59] - Quote
Just issued the first dividend since getting back. At 1.4 bil total, it is the largest dividend yet issued. :) The next dividend is scheduled in two weeks for Monday, November 9.
Regards. Moron Summers |
Zerinia
Alliance of Free Stars
14
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Posted - 2015.10.26 00:47:19 -
[60] - Quote
56m isk on my 240 shares, for which I paid 200m. I like it! :P |
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