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Zolcan
Amarr Sovereign Enterprises
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Posted - 2007.05.17 02:25:00 -
[1]
Edited by: Zolcan on 17/05/2007 02:33:04
Today a vote was started by myself to the Sovereign Enterprises shareholders asking YES or NO votes to the following question.
"Should Sovereign Enterprises Release 2,000,000,000 isk in Bonds?"
As discussed in THIS THREAD we are asking permission of our shareholders to release 2,000,000,000 in general bonds to help fund the following.
1. Purchase two BC BPOs for 630m isk (already purchased and in lab until 05/31/07).
2. Purchase 1.37b isk in additional mineral stocks for ship production.
The terms of the bond release are as follows and if approved will be as follows.
BOND TERMS
Time Period: 16 periods (8 months) Guaranteed Minimum Return: 12% Period Payments: 2% interest on the remaining principle balance of bond (4% per month) Early Payment Penalty: None Late Payment Penalty: 1/2% increase in interest per period to a maximum of 6% total per period Late Payment Penalty Takes Effect: After 12 periods Bonds Issued: 2,000 Value of Each Bond: 1,000,000 isk Total Raised: 2,000,000,000 isk Minimum Share Purchase: 50 bonds (50m isk) Maximum Share Purchase: 200 bonds (200m isk) per Sovereign Shareholder (limit dropped if not all sold)
PAYMENT ORDER
1. The current Sovereign shareholder dividend of 40% of net profits will be paid first. 2. The corporation will retain 20% of net profits will be paid second. 3. Bond interest of 2% of the remaining balance will be paid third. 4. What is left will be applied to bond principle and paid forth.
EXAMPLE OF BOND PAYMENTS
Example (Week One): Sales: 6,000,000,000 isk Net Profit: 400,000,000 isk Bond Balance: 2,000,000,000 isk Shareholder Dividend: 160,000,000 isk (40%) Retained Earnings to Corp: 80,000,000 isk (20%) Interest Payment to Bondholders: 40,000,000 isk (2%) Remaining Net Profit to Bond Principle: 120,000,000 isk New Bond Principle Remaining: 1,880,000,000 isk
Example (Week Two): Sales: 7,000,000,000 isk Net Profit: 450,000,000 isk Bond Balance: 1,880,000,000 isk Shareholder Dividend: 180,000,000 isk (40%) Retained Earnings to Corp: 90,000,000 isk (20%) Interest Payment to Bondholders: 37,600,000 isk (2%) Remaining Net Profit to Bond Principle: 142,400,000 isk New Bond Principle Remaining: 1,737,600,000 isk
BONUS PAYMENT
As the purpose of this bond is to increase our gross sales and given we estimate sales moving from the current range of 5-6b isk a period to 7.5-9b isk a period we realize the current Sovereign shareholders have the most to gain in the long run from this bond release as they'll receive increased dividends long after the bond is paid off. As a result the following "bonus payment" for the bondholders will be put into action under the conditions that follow.
Bonus - After the full payment of the bond under the terms above there will be two consecutive periods (after) in which a bonus payment of 20% of corporate net profits will be paid to the bondholders. Those two periods (the month after the bond is paid off) the breakdown will be as follows. 40% Shareholder Dividend. 20% Bonus Bond Dividend. 40% Corp Retained Earnings. After which we will go back to the normal 40% Shareholder Dividend / 60% Retained Earnings system per our corporate charter. We anticipate a total bonus payout of approximately 140m isk each "bonus" or a total of 280m in bonus for the two payments. This would be an additional bonus of 14% on top of the 12% guaranteed return on the bonds for a total return of 26% if we reached that level of net profit (this is just an example). It could be more or less depending on our performance.
(Edit for spelling)
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Zolcan
Amarr Sovereign Enterprises
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Posted - 2007.05.17 02:25:00 -
[2]
Edited by: Zolcan on 17/05/2007 02:31:36
SHAREHOLDER VOTE
Shareholders voting in this election are agreeing to the descriptions above if voting YES in the election. The vote will run for five days after which if approved a sales thread will be started and bonds will be sold as per our charter.
CORPORATE CHARTER PROVISIONS FOR BOND SALES
The Sovereign Enteprises Corporate Charter lays out in detail the provisions for all bond sales. You can view the entire charter here in .pdf format.
SOVEREIGN ENTERPRISES CHARTER
The relevant provisions of the charter are as follows:
Section 002.960 - Corporate Bond Sales and Procedures
Please note provisions 12 and 13 and 14 of the charter section are in the process of being rewritten as we've closed the Sovereign forums (due to spam bots). We will ammend those charter provisions shortly to read that communication will be done here on the market forum in an appropriate thread.
Please note provision 9 of the charter which states current Sovereign shareholders (from the original purchase list we have) will have priority purchase. As the Reveltations patch has not yet occured and some shares may've changed hands if that is the case we will handle that on a case by case basis (information will be required as to who you purchased them from and confirmation will be provided by the person you did buy them from).
LENGTH OF VOTE
The vote will run for five days beginning 05.16.2007 02:30 evetime and end 05.21.2007 02:30 evetime (approximately). If the vote is "YES" the bonds will be issued according to the above terms.
Thank you,
Zolcan Chairman, President, CEO Sovereign Enterprises "Build it Right!"
(Edit to fix dates of vote - May not June!)
SOVEREIGN ENTERPRISES WEBPAGE AND FORUMS
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Zolcan
Amarr Sovereign Enterprises
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Posted - 2007.05.17 02:29:00 -
[3]
Please note there is a "bonus payment" in this vote that is new and was not in the previous discussion. This is to make it more worthwhile to outside investors who may want to invest in the bond issue. Thank you to everyone for your input on the bond issue.
Zolcan
SOVEREIGN ENTERPRISES WEBPAGE AND FORUMS
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Zolcan
Amarr Sovereign Enterprises
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Posted - 2007.05.22 03:29:00 -
[4]
Edited by: Zolcan on 22/05/2007 03:32:44
BOND ISSUE PASSED!! ORDER BONDS BELOW!!
I am pleased to announce the bond issue has passed by the following vote.
YES - 78.82% NO - 21.18%
I didn't vote (with my 68% of all shares majority) so this was a true shareholder vote. _______________________________________________________________________________
Please order bonds by posting below in the following format:
Name - Your Name Current Shareholder - YES or NO Bonds Purchased - 50 to 100 Purchase Price Total - 50m to 100m _______________________________________________________________________________
As per our corporate charter current bondholders have priority to purchase up to 40% the bonds. We will assemble a list of those who want to purchase from posts below and organize it by shareholder status. Per the charter once we've had 40% sold to shareholders the list will be truly "first come first serve" so please post right away if you want to purchase bonds. Current Board Members may purchase twice the limit (up to 200 bonds) if desired per the charter.
We currently have 1,600 bonds available for purchase as two board members have purchased so far.
The minimum purchase is 50 bonds (50m isk) and the maximum is 100 bonds (100m isk). If all the bonds are not sold by 05/26/2007 23:00 evetime we will drop the maximum limit and allow people to purchase extra.
Once we have received purchase commitments from buyers we will give directions to make payment and issue the bonds to you once payment is received.
Thank you,
Zolcan
SOVEREIGN ENTERPRISES WEBPAGE AND FORUMS
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Zolcan
Amarr Sovereign Enterprises
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Posted - 2007.05.22 03:30:00 -
[5]
OFFICIAL BOND PURCHASING LIST
1. Board Member #1 - 200 bonds 2. Board Member #2 - 200 bonds 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20. 21. 22. 23. 24. 25. 26. 27. 28. 29. 30.
SOVEREIGN ENTERPRISES WEBPAGE AND FORUMS
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Anatolius
Amarr PIE Inc.
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Posted - 2007.05.22 03:37:00 -
[6]
Edited by: Anatolius on 22/05/2007 03:35:17 Name - Anatolius Current Shareholder - YES Bonds Purchased - 100 Purchase Price Total - 100m Extra Bonds - YES
As always, Sovereign Enterprises has my complete confidence.
"If God be for us, whom can be against us?" |
Ma Raia'l
Amarr PIE Inc.
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Posted - 2007.05.22 03:53:00 -
[7]
Name - Ma Raia'l Current Shareholder - NO Bonds Purchased - 50 Purchase Price Total - 50m Extra Bonds - NO
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Vlad Konstantinov
Amarr PIE Inc.
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Posted - 2007.05.22 06:22:00 -
[8]
Name - Vlad Konstantinov Current Shareholder - YES Bonds Purchased - 50 Purchase Price Total - 50m Extra Bonds - NO
---
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Treelox
Amarr Frontier Technologies
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Posted - 2007.05.22 06:40:00 -
[9]
Name - Treelox (woot first non PIE) Current Shareholder - YES (from the begining) Bonds Purchased - 100 Purchase Price Total - 100mil iskies (Just waiting for a target for this isk) Extra Bonds - Yes (Im willing to take another 100-200mil isk if they are availble)
--
FTEK | Production ~ Research ~ Sales ~ Omber Zombie's Wet Work |
Phoenix IV
MegaTrade Corporation
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Posted - 2007.05.22 07:13:00 -
[10]
Name - Phoenix IV Current Shareholder - NO Bonds Purchased - 100 Purchase Price Total - 100m Extra Bonds - YES |
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Uzen Ghirraz
Amarr The Silver Hand
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Posted - 2007.05.22 07:23:00 -
[11]
Name - Uzen Ghirraz Current Shareholder - YES Bonds Purchased - 50 Purchase Price Total - 50m Extra Bonds - NO
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RESI Manager
Minmatar RESX Stock Investments
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Posted - 2007.05.22 07:51:00 -
[12]
Name - RESI Manager Current Shareholder - NO Bonds Purchased - 100 Purchase Price Total - 100m Extra Bonds - YES ______________________________ Real-time EVE Stock Exchange, Blog |
Lallara Zhuul
Amarr PIE Inc.
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Posted - 2007.05.22 09:08:00 -
[13]
Name - Lallara Zhuul Current Shareholder - Yes Bonds Purchased - 100 Purchase Price Total - 100m Extra Bonds - Yes
'Death is the only Release from duty..' |
Kasia Pelarar
Eve Share and Market Authority
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Posted - 2007.05.22 10:16:00 -
[14]
Name - Kasia Pelarar Current Shareholder - YES Bonds Purchased - 100 Purchase Price Total - 100,000,000 ISK Extra Bonds - YES |
Rodj Blake
Amarr PIE Inc.
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Posted - 2007.05.22 10:21:00 -
[15]
Name - Rodj Blake Current Shareholder - YES Bonds Purchased - 50 Purchase Price Total - 50m Extra Bonds - NO
Dulce et decorum est pro imperium mori. |
Chani Miranor
Amarr PIE Inc.
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Posted - 2007.05.22 11:53:00 -
[16]
Name - Chani Miranor Current Shareholder - YES Bonds Purchased - 100 Purchase Price Total 100m Extra Bonds - YES
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Zolcan
Amarr Sovereign Enterprises
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Posted - 2007.05.22 12:12:00 -
[17]
1400 BONDS SOLD SO FAR - 600 BONDS LEFT TO SELL
SOVEREIGN WEBPAGE
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Erikel
Cosmic Odyssey YouWhat
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Posted - 2007.05.22 14:58:00 -
[18]
Name - Erikel Current Shareholder - NO Bonds Purchased - 100 Purchase Price Total 100m Extra Bonds - NO
PS: Should i transfer the money to Zolcan?
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Gaius Sejanus
Gallente Federal Navy Academy
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Posted - 2007.05.22 16:24:00 -
[19]
Name - Gaius Sejanus Current Shareholder - NO Bonds Purchased - 100 Purchase Price Total 100M Extra Bonds - NO
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Pang Grohl
Gallente
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Posted - 2007.05.22 18:23:00 -
[20]
Name - Pang Grohl Current Shareholder - NO Bonds Purchased - 100 Purchase Price Total - 100m Extra Bonds - YES
Si non adjuvas, noces (If you're not helping, you're hurting) |
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Jane Tyrill
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Posted - 2007.05.22 18:30:00 -
[21]
Name - Jane Tyrill Current Shareholder - No Bonds Purchased - 100 Purchase Price Total - 100m Extra Bonds - YES
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Grr
Amarr Epitoth Fleetyards Vigilia Valeria
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Posted - 2007.05.22 18:37:00 -
[22]
Name - Grr Current Shareholder - No Bonds Purchased - 100 Purchase Price Total - 100m Extra Bonds - YES
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starfire0101
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Posted - 2007.05.22 18:57:00 -
[23]
Name - starfire0101 Current Shareholder - NO Bonds Purchased - 100 Purchase Price Total - 100m Extra Bonds - NO
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Simon Meyer
Gallente Silent Sun Enterprises
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Posted - 2007.05.22 19:50:00 -
[24]
Edited by: Simon Meyer on 22/05/2007 19:51:43 Edit - hmm guess i'm too late :)
Name - Simon Meyer Current Shareholder - YES Bonds Purchased - 100 Purchase Price Total - 100m Extra Bonds - NO
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Chitah
Gallente PT RESEARCH INSTITUTE
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Posted - 2007.05.22 22:23:00 -
[25]
Edited by: Chitah on 22/05/2007 22:22:45 Edited by: Chitah on 22/05/2007 22:22:21 Name - Chitah Current Shareholder - NO Bonds Purchased - 100 Purchase Price Total - 100m Extra Bonds - NO
Will be transfered as soon as i log in.
*EDIT: I missed the part to whom to transfer so i transfered to Zolcan
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Havok Pierce
Gallente Black Lance NBSI Alliance
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Posted - 2007.05.22 22:24:00 -
[26]
Name - Havok Pierce Current Shareholder - No Bonds Purchased - 50 Purchase Price Total - 50m Extra Bonds - YES
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Zolcan
Amarr Sovereign Enterprises
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Posted - 2007.05.23 03:51:00 -
[27]
The bond issue is now sold out. Please see the next post for details on making payment for your bonds from Sovereign Manager our bond fund manager.
Thank you!
Zolcan
SOVEREIGN WEBPAGE
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Sovereign Manager
Amarr Sovereign Bond 0002
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Posted - 2007.05.23 04:02:00 -
[28]
Thank you for participating in our second Bond Fund sale. We are committed to providing a good investment opportunity with minimal risk to our shareholders and bondholders. Below you will find the details for this bond fun issue and directions to make payment.
BOND FUND CORPORATION - SOVEREIGN BOND 0002 BOND FUND MANAGER - SOVEREIGN MANAGER
Directions to make payment and receive bonds -
1. Send your bond payment to SOVEREIGN MANAGER of Sovereign Bond 0002 corporation. Send to him personally and not to the corp.
2. At the same time send an evemail to Sovereign Manager saying that you've made a payment to him and listing the amount and the bonds you purchased.
3. Each evening Sovereign Manager will log on and process payments. When payment is confirmed he will give the bonds to those who purchased them. He will then send a reply evemail telling you the bonds should be in your wallet.
4. We will process payments for five days starting now and ending 05/28/2007 at 03:00 evetime. After this if there are unclaimed bonds they will be offered to the alternates on the list in order of listing.
If you have any questions please post them here. The first bond payment will be processed on 06/15/2007 (end of upcoming period) and payment should be made within four days of that date per our corporate charter.
Thank you,
Sovereign Manager Sovereign Bond 0002 Fund Manager _________________________
PAYMENT RECORD
1. Board Member #1 - 200 bonds ** PAID 2. Board Member #2 - 200 bonds ** PAID 3. Anatolius - 100 bonds ** 4. Vlad Konstantinov - 50 bonds ** 5. Treelox - 100 bonds ** 6. Lallara Zhuul - 100 bonds ** 7. Kasia Pelarer - 100 bonds ** 8. Ma Raia'l - 50 bonds 9. Phoenix IV - 100 bonds 10. Uzen Ghirraz - 50 bonds 11. RESI Manager - 100 bonds 12. Rodj Blake - 50 bonds ** 13. Chani Miranor - 100 bonds ** 14. Ricdic - 100 bonds 15. Erikel - 100 bonds 16. Gaius Sejanus - 100 bonds 17. Pang Grohl - 100 bonds 18. Jane Tyrill - 100 bonds 19. Grr - 100 bonds 20. Starfire0101 - 100 bonds
Reserve List - If someone doesn't pay for their bonds within the five day period we will offer to sell to these people next as they were on the list.
21. Simon Meyer - 100 bonds (1st Alternate) 22. Chitah - 100 bonds (2nd Alternate) 23. Havoc Pierce - 50 bonds (3rd Alternate)
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Zolcan
Amarr Sovereign Enterprises
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Posted - 2007.05.24 23:57:00 -
[29]
To date we have received 1,550,000,000 of the purchased 2,000,000,000 in bond payments from bondholders. There are three more days to pay Sovereign Manager for your bonds per the directions above afterwhich the bonds will be offered to the alternates.
Thank you to all who have purchased bonds for helping our company grow and prosper.
Zolcan
SOVEREIGN WEBPAGE
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Treelox
Amarr Frontier Technologies
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Posted - 2007.05.25 05:38:00 -
[30]
howdy zolcan,
Id like to sign up as 4th alternate, just on the off chance that you have some left over after the 250 issues that are reserved for the 3 in already designated alternate slot.
If awarded the 4th alternate slot, id love to get my grubby hands on another 100 mil worth. --
FTEK | Production ~ Research ~ Sales ~ Omber Zombie's Wet Work |
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