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Hexxx
Minmatar
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Posted - 2008.01.04 03:00:00 -
[1]
Please visit the following link for EBANK's cashflow report:
EBANK December Cashflow Report
Some highlights for those with little patience:
We collected 1.4 billion in dividends from stocks that EBANK holds.
We collected 897 million in profit from some limited market speculation.
We paid out 335 million as Xmas gift to our customers.
We earned 2.1 billion in interest from loans.
Paper Profits came out to roughly 3.6 billion.
So why the big increase in profits?
It came out to a few things;
1) A shift to a more substantial stock/bond portfolio resulted in much greater gains this month from dividends.
2) Increased loans at good rates resulted in some impressive revenue. Very impressive. Part of this can be attributed to our expansion...the early stages gave us enough capital to move on some loans which turned out to do very well for us.
3) We finally moved on cashing in on some market speculation.
I can't speak to further expectations on market profits.
Consulting, IPO Template, and Stock/Bond definitions.
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Genbukan
Best Buy INC
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Posted - 2008.01.04 07:04:00 -
[2]
 Originally by: Hexxx
Please visit the following link for EBANK's cashflow report:
EBANK December Cashflow Report
Some highlights for those with little patience:
We collected 1.4 billion in dividends from stocks that EBANK holds.
We collected 897 million in profit from some limited market speculation.
We paid out 335 million as Xmas gift to our customers.
We earned 2.1 billion in interest from loans.
Paper Profits came out to roughly 3.6 billion.
So why the big increase in profits?
It came out to a few things;
1) A shift to a more substantial stock/bond portfolio resulted in much greater gains this month from dividends.
2) Increased loans at good rates resulted in some impressive revenue. Very impressive. Part of this can be attributed to our expansion...the early stages gave us enough capital to move on some loans which turned out to do very well for us.
3) We finally moved on cashing in on some market speculation.
I can't speak to further expectations on market profits.
Great work so far and truly enjoy how things are coming along. I know that there were probably countless hours
of time vested into it. The bugs that needed to be fixed and still having the time to run your business.
Keep up the great job.
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Hexxx
Minmatar
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Posted - 2008.01.04 14:19:00 -
[3]
Oh, we're still fighting bugs. We've had to redo our statistics on loans because the queries weren't given us the information we thought they were...talk about a pain in the butt.
If we can finally really nail down a great and effective loan system with great reporting, it will be a hugely beneficial thing. Alot of this report had to be triple checked because I don't take anything for face value. Mr. Horizontal was instrumental in assisting me with alot of the data gathering and Ricdic of course helped with a very large spreadsheet with our investments that are outside the EBANK system. I'm quite satistified with the report and I think it gives the reader a good idea of EBANK's growth.
Consulting, IPO Template, and Stock/Bond definitions.
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Roger Welco
Caldari
WhiteGlaze Interstellar Inc.
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Posted - 2008.01.08 16:52:00 -
[4]
wwo just liek a real life bank.. except the 'xmas gift to our customers'.
now if a real bank did that... :)
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VB Sarge
The Bastards
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Posted - 2008.01.08 23:47:00 -
[5]
It's right about now that I really wish I had deposited that 500mil before xmas :p
www.the-bastards.com |
Treelox
Amarr
Market Jihadist Revolutionary Party
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Posted - 2008.01.09 00:16:00 -
[6]
Originally by: VB Sarge
It's right about now that I really wish I had deposited that 500mil before xmas :p
hehe
Quick get some in before chinese new year, if we are lucky one of the BOD of EBANK is ethnic chinese and we can get the great red envelope with a Chinese New Years Bonus.
:)
--
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Bakimi Ghevorchal
Praetoria Holdings
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Posted - 2008.01.09 00:49:00 -
[7]
Originally by: Treelox
hehe
Quick get some in before chinese new year, if we are lucky one of the BOD of EBANK is ethnic chinese and we can get the great red envelope with a Chinese New Years Bonus.
:)
...or accuse them of racism if they don't  why am I seeing dragonridertao appear here any minute....
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CEO of Praetoria Holdings, a Public Company |
YouGotRipped
Gallente
Ewigkeit
Galactic Research
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Posted - 2008.01.09 12:00:00 -
[8]
Originally by: Hexxx
Please visit the following link for EBANK's cashflow report:
EBANK December Cashflow Report
So why the big increase in profits?
It seems to me you forgot one source of revenue.
Unauthorized use of BPOs that were put up as collateral. That should have netted you guys some bucks don't you think?
I'm only trying to help you. :)
Exactly how many of your illustrious clients' collateral are BPOs worth copying / produced from and how frequently do they forget to make any use of them via your third party service? How often you guys delay them on purpose till the job delivers?
I'm just curious if this is really the case, but pls feel free to correct me or come forward with a nice 1000 words essay on bank policy and honesty.
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McRuder
Gallente
This Space Been Rent
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Posted - 2008.01.09 15:17:00 -
[9]
We make profit because we know how.
Do we steal? No.
Do we scam? No.
Do we copy other's BPO? No.
Would you believe me? No.
All these trolls are tiresome, and its really such a waste of my time to read such crap and having to respond.
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Hexxx
Minmatar
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Posted - 2008.01.09 16:50:00 -
[10]
Edited by: Hexxx on 09/01/2008 16:51:56
Originally by: YouGotRipped
Edited by: YouGotRipped on 09/01/2008 12:06:50
Originally by: Hexxx
Please visit the following link for EBANK's cashflow report:
EBANK December Cashflow Report
So why the big increase in profits?
It seems to me you forgot one source of revenue.
Unauthorized use of BPOs that were put up as collateral. That should have netted you guys some bucks don't you think?
I'm only trying to help you. :)
Exactly how many of your illustrious clients' collateral are BPOs worth copying / produced from and how frequently do they forget to make any use of them via your delegation service? How often you guys delay them on purpose till your job delivers?
I'm just curious if this is really the case, but pls feel free to correct me or come forward with a nice 1000 words essay on bank policy and honesty.
All forms of revenue have already been accounted for. Use of client collateral as a revenue source is not something we do, and hence, not a form of revenue.
edit: Actually, I'm not entirely correct. When EBANK first started one or two of our loans were secured via shares. For some of these loans we collected and kept these dividends per client agreement. These days however, I believe we generally return dividends to clients who provide shares as collateral. This is generally on a case-by-case basis and terms are negotiated before the start of the loan.
Consulting, IPO Template, and Stock/Bond definitions.
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YouGotRipped
Gallente
Ewigkeit
Galactic Research
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Posted - 2008.01.09 17:05:00 -
[11]
Thanks for taking time to reply. No more questions.
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Myrdyr
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Posted - 2008.01.09 17:26:00 -
[12]
Edited by: Myrdyr on 09/01/2008 17:39:10
a couple quibbles:
1) covering up a 2.5bil investment loss with a 2.5bil "donation" is deceitful EDIT: sorry, just read about the Riethe details and lack of BoD approval
2) an average daily account balance would be nice to compare to month-end
3) you earned 2.1bil interest? I see 2.4bil in "loan repayments", does that mean only 300mil principal was paid down?
4) along the lines of #3, break down "outstanding loans" versus "new loans" so it's easier to see how you're doing month to month on generating new loan business (you appear to be nearly maxxed out on loan capacity relative to isk liquidity, and it certainly looks like you can't cash out everyone who holds deposits, which means your cost of revenue ratio is probably out of wack...)
am i in the right ballpark?
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Hexxx
Minmatar
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Posted - 2008.01.09 19:07:00 -
[13]
Originally by: Myrdyr
Edited by: Myrdyr on 09/01/2008 17:39:10
a couple quibbles:
1) covering up a 2.5bil investment loss with a 2.5bil "donation" is deceitful EDIT: sorry, just read about the Riethe details and lack of BoD approval
2) an average daily account balance would be nice to compare to month-end
3) you earned 2.1bil interest? I see 2.4bil in "loan repayments", does that mean only 300mil principal was paid down?
4) along the lines of #3, break down "outstanding loans" versus "new loans" so it's easier to see how you're doing month to month on generating new loan business (you appear to be nearly maxxed out on loan capacity relative to isk liquidity, and it certainly looks like you can't cash out everyone who holds deposits, which means your cost of revenue ratio is probably out of wack...)
am i in the right ballpark?
Loans....you bring up a good point. The big problem we have is determining how much of their payments are towards interest and how much is towards principle. Sure, we could work up some amoritization tables here but that's a bit more complicated than I'd like to be.
We're still dealing with how to report these internally and externally, and for now all we're measuring is how much they owe (with interest) and how much they've paid us. It's simplistic, but it works for now and we've been able to manage our operational funds without having to contact our reserves or borrow money from another Bank.
Is our system perfect? No. Would I like to change it? Yes. The simple truth is that right now this isn't something that is critical and I have many other things I need to be working on. I'll revisit this at some point but for now it's not likely to change in the future. I understand the frustration this might cause (it frustrates me too) but I don't believe this to be dangerous to EBANK's business for the moment.
Consulting, IPO Template, and Stock/Bond definitions.
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Ricdic
Caldari
Corporate Research And Production Pty Ltd
Zzz
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Posted - 2008.01.09 19:58:00 -
[14]
Originally by: Myrdyr
1) covering up a 2.5bil investment loss with a 2.5bil "donation" is deceitful EDIT: sorry, just read about the Riethe details and lack of BoD approval
There was no coverup. It was blatantly obvious that EBANK held stocks in RHCRP and made even more obvious by Riethe on the day he called scam. Either way I felt responsible for the debt so I paid EBANK the 2.5b (hence the 'donation')
Quote:
2) an average daily account balance would be nice to compare to month-end
For what reason? Why not just calculate month end value divided by 30? That's about all we would do to provide this info.
Quote:
3) you earned 2.1bil interest? I see 2.4bil in "loan repayments", does that mean only 300mil principal was paid down?
Hexxx dug into this above. The way our loans work, as long as people are paying the minimum interest payment each month (ie lets say 300m on a 3b loan @ 10%) then all we care to recieve is the 300m interest. People are welcome to repay their loans but there are no fixed terms. So at this point some people have had large loans completely repaid whilst others still have active loans. Would be fairly easy to add a 'loans finished' box of some sort, as we already have an Active=No/Yes box can be used to filter the code.
Quote:
4)(you appear to be nearly maxxed out on loan capacity relative to isk liquidity, and it certainly looks like you can't cash out everyone who holds deposits, which means your cost of revenue ratio is probably out of wack...)
We have no reason to cash out all customers. In the event all customers withdraw at once we will call on our reserve funds (approx 60b avail) whilst we look into getting funds back into EBANK etc
I am the loans officer so probably a little more authorative to answer those kinds of questions 
http://oldforums.eveonline.com/?a=topic&threadID=500043
Largest Empire Research Alliance in EVE! |
SencneS
Amarr
Spartan Industrial Manufacturing
SMASH Alliance
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Posted - 2008.01.09 20:35:00 -
[15]
On the interest and loan payment, you could have a scenario where, All 2.4bil was principle. Lets say someone had a 2.4bil loan left, and they paid it all off. This would be a principle payment. Now someone who has a rather large loan gets 2.1bil in interest.
Hexxx did a good job explaining why it's hard to work with these two numbers, I'm just throwing out the devil's advocate scenario here as well 
Amarr for Life |
Jack Freely
Caldari Trading Corp
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Posted - 2008.01.10 05:12:00 -
[16]
Originally by: Ricdic
We have no reason to cash out all customers. In the event all customers withdraw at once we will call on our reserve funds (approx 60b avail) whilst we look into getting funds back into EBANK etc
One thing that hedge funds do is set a window when funds can be withdrawn and how much can be withdrawn at any given time. Also when I was investing other peoples money I would put in place a contract that locked the money in for 2 years as I invested in income producing properties. No bank could take a full run, if they can then they have too much money that isn't in play.
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DragonRiderTao
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Posted - 2008.01.12 16:31:00 -
[17]
The land has many meanings for the coming year. In it lies wealth.
How many dragons can you slay? You cant slay mine. |
viaticae
Caldari
D'Arcy Corp
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Posted - 2008.01.12 16:59:00 -
[18]
Most Impressive work.
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Daeva Vios
Ares Arms and Modules LLC
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Posted - 2008.01.12 17:24:00 -
[19]
Edited by: Daeva Vios on 12/01/2008 17:24:22
Originally by: YouGotRipped
Thanks for taking time to reply. No more questions.
This post marks the first time you've impressed me. I know that doesn't mean much to you, but it means something to me so I thought I'd say it.
As far as the EBANK report goes, thank you for providing this. Until the game shuts down I doubt I'll be entirely convinced, but you guys go above and beyond to make yourselves as legitimate as possible. It's comforting to know that I could very well be wrong and not everyone has a price. 
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LadyOfWrath
Valhalla Navy Technical Institute
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Posted - 2008.01.14 01:58:00 -
[20]
I <3 EBANK. If not for Ricdic I wouldn't be where i am today in the Freighter business. They gave me a substantial loan which i needed to speed up expansion, and over half of it has already been repaid at this time.
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