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[Nyphur] Very important announcement.

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Nyphur Pillowsoft	Posted - 2008.01.20 22:44:00 - [1] Hey guys. I'm afraid I'm going to have to let a lot of people down today but before any of you panic, your investment isk is safe. I'm going to let down some of my corpmates that want good 0.0 access and have big plans for the future. I'm going to have to let down some of the friends I've made in Eve and the corps that have stuck by Pillowsoft while we gallavanted around 0.0 as "Total Comfort" alliance. Worst of all and the thing I regret the most is that I'm going to have to let down some of my investors. I do hope that most of my investors so far have had a great experience, have watched their isk grow and won't mind what I'm about to do. The people who had hoped investing in me would last longer than it has will be disappointed. The Problem: I have been having issues with stress and anxiety over the past six months and this January it reached its peak as I had university exams on top of my mounting responsibilities in Eve. Running an alliance, being responsible for corpmates and other corps, having to play eve regularly and worry about how my markets etc are doing constantly all added to it. The alliance responsibilities have been eliminated and it has helped but I have to do more. For the sake of my mental health, I am going to be taking a bit of a break from Eve but more importantly I'm going to completely get rid of all of my in-game time-based responsibilities. Eve has turned into a job for me and I've finally started to burn out on it. I am officially closing down both of my investment schemes. All of the corporate assets of both PIF and PSRS will be liquidated and the isk returned to investors at the original IPO price, as stated in the exit strategies. The Future: A large number of previous investment opportunity owners have reached the point that I am now at, where they are mentally burned out on their scheme and would like to stop. For some that means pulling a massive scam and running off with all the public isk but for those of us with integrity, it means liquidating fairly and paying out all of the isk originally invested back to the shareholders. I pride myself on my integrity and trustworthiness and I am gratified that the eve community has trusted me with 60,000,000,000 isk on nothing but my good name and a promise. I will be paying all invested isk vack to investors as stated in the exit strategies of PSRS and PIF. Thank you all for investing, it has been excellent. Dividends will cease immediately while liquidation plans are put into action. There now follows details on how liquidation will occur. Pillowsoft Investment fund (PIF): IPO Thread: http://oldforums.eveonline.com/?a=topic&threadID=510513&page=1#2 As stated in the Exit Strategy: Quote: In the event of the following list of things occuring, liquidation will occur ahead of schedule: - I cannot play eve any more for any reason. - The markets I am trading in crash horribly and suitable replacement markets to trade in cannot be found. - The total capital employed by myself and my corp falls to below 25b for some ungodly reason. I am involking the first condition in that list. I can no longer play eve to a schedule due to health concerns. Assets to liquidate: To ensure that shutdown and liquidation of PIF goes smoothly, the inventory listing of assets will not be disclosed until after the liquidation payment goes out. I do have a full itemised list and will post it after liquidation. The total assets retrieved from liquidation will be 20b, providing a 100% return of invested capital. Liquidation schedule: The entire point of liquidating for me is to get rid of such imposing schedules that force me to play Eve for a certain amount of the week. To that end, I will not promise a deadline for liquidation but as liquidation values used are close to market buy order prices, I'm confident that it will take no more than one or two months in total (by Feb 29th to March 31st). Eve-Tanking.com - We're sorry, something happened.
Nyphur Pillowsoft	Posted - 2008.01.20 22:45:00 - [2] Pillowsoft Secure Return Shares (PSRS): IPO Thread: http://oldforums.eveonline.com/?a=topic&threadID=510513&page=1#2 As stated in the Exit Strategy: Quote: In the event of the following list of things occuring, liquidation will occur: - I cannot play eve any more for any reason. - The markets I am trading in crash horribly. The exit strategy itself will be a standard liquidation and return of invested capital at the issue price. The BPOs will be sold off for at least 20 billion isk each (at ME 1) and that isk will be paid out to investors as each sale is concluded. Once all four are sold, the shares will be declared inert and the business declared bankrupt. The corporation will be shut down to prevent confusion. Both of these conditions have now come true and liquidation will proceed as scheduled, with the slight modification that the BPOs will not be able to sell for 20b each since the market for motherships has collapsed. Copying will cease after the current cycle and the bpos will be prepared for sale. Assets to liquidate: Nyx BPO ME 1 18.5b (estimated sale price) Aeon BPO ME 2 17b (estimated sale price) The POS used to copy the BPOs are considered personal property and were not funded with IPO isk. Also, stating what types and sizes were used may cause risk and so they are not listed here. Stock: 1 nyx bpc 1.4b (availible 5th feb) Total: 36.9 As the project started out with 40b, even selling at these prices leaves a projected loss of 3.1b, which is 7.75% down on the invested capital. It is unfortunate that this loss has to be passed onto investors but the Exit Plan never covered depreciation of assets and simply states that the bpos will be sold and that isk paid out to investors. It is assumed that every investor knows the risks of investing. To date, PSRS has made payments totalling 13.2 billion isk, which is about a 33% dividend on invested isk. Those of you who bought in at the start and held onto your shares will be cashing out having made 25% on your isk even though the business itself failed. Liquidation schedule: Given the very solid nature of the assets being liquidated, I cannot promise a schedule. In order to expediate matters so that your isk isn't sitting idle for too long, I have valued the bpos at only a touch above npc prices and will accept offers at the price above instantly. Anyone willing to help with liquidation by buying them and reselling for a profit is welcome to do so. Because of the fact that I have dropped 3.1b of investor money on PSRS scheme, I would like to encourage investors to hold onto their shares. Despite what people think, my personal isk is very limited but some day, just maybe, if I come into a large packet of isk somehow.. I might make a final make-up dividend. No promises, though. Eve-Tanking.com - We're sorry, something happened.
Nyphur Pillowsoft	Posted - 2008.01.20 22:46:00 - [3] Final thoughts Although I'm sad to be closing up shop, this is a game at the end of the day and real life ALWAYS takes priority. Over the past few years, I've gotten deeper and deeper into Eve and taken on more and more responsibility. I've gone from worrying about corpmates having fun to worrying about alliancemates having fun, I've gone from one account to three and I've gone from being responsible for my own isk to being responsible for 60b of investor isk. Somewhere along the line, I gave up my independence from the game - I couldn't just stop playing for a week or a lot of other players would suffer. This is not something I am prepared to let happen any more. For the next year at least, I need to be free from responsibility in Eve. Might I come back a year from now and run another IPO? Maybe, but I am not going to plan for it. If I do, I will use the experiences I've accumulated running PIF and PSRS to plan properly and ensure I am not running things solo so it doesn't become a burden. I would like to say that the PIF business performed excellently despite having to run the entire thing singlehandedly when my corpmates stopped helping and that if someone would like to purchase the business plan and spreadsheets I used for it and even the assets and locations, I'm sure we could work something out. Otherwise I will gladly make it public. I will be availible for third-party trustee duty if someone needs me to do it (Chribba could do with some competition) and I'll definitely offer my expertise in running IPOs etc as a consultant if someone needs help. Just don't expect me to want any responsibilities for about the next year. Just 1-2 more months and all my Eve responsibilities will be settled. Then I can relax . Eve-Tanking.com - We're sorry, something happened.
Ramblin Man Empyreum	Posted - 2008.01.20 22:53:00 - [4] O7 I know how hard finals and EVE can be, and you've done it with far more commitments than I have. Here's hoping life in general becomes more enjoyable for you. ¦a= a= hei=ra! Welcome to the dark side old friend. .Shar Where we hate people through words.
Nyphur Pillowsoft	Posted - 2008.01.20 22:54:00 - [5] Originally by: Ramblin Man O7 I know how hard finals and EVE can be, and you've done it with far more commitments than I have. Here's hoping life in general becomes more enjoyable for you. ¦a= a= hei=ra! Thanks man. I'm entering the second semester of my third year in university, which is my second last year. The next year is my final year and I don't want it messed up at all by dependence on a game. Eve-Tanking.com - We're sorry, something happened.
Vie Victus Gadrel Heavy Industries	Posted - 2008.01.20 22:57:00 - [6] I am in the market for some POSs and modules. If you wish, please send me an evemail with what you have available and I'll make you an offer. Thanks!
Auri Hella Anqara Industries Blue Sky Consortium	Posted - 2008.01.20 23:28:00 - [7] I'm a bit sad to see you go, PIF was one of those investments that everybody wants to have, stable as a rock. I'll miss the wallet blink every month. Having said that, life takes precedence over any game. I hope you find the peace and quiet you're looking for. Good luck.
Brisco Smiley Peppermint Bay Trading Company	Posted - 2008.01.20 23:43:00 - [8] I'm sure the experience will serve you well in all your endeavors. Good luck finding the fun again. o7
Whiskey Smokes	Posted - 2008.01.20 23:47:00 - [9] I'm not an investor but in the power of being human I'd just like to say that I appreciate you being open about the ingame stress and how it affects real life. I hope you'll get some good times ahead of you now, and wish you the best.
Kaede Frost	Posted - 2008.01.21 00:03:00 - [10] You have been a trusted and well respected member of the community for a long time. Best of luck with the future. Join the In-game lottery mailing list: "Kaede Lottery" to keep uptodate on the latest lottery.
Xharky X-238	Posted - 2008.01.21 00:09:00 - [11] Good luck with your exams. o/ -------------------- <&Hammerhead> Observator results make pretty good safe spots
Klavayne Free Mercenaries Union FreeFall Securities	Posted - 2008.01.21 00:40:00 - [12] Originally by: Nyphur Because of the fact that I have dropped 3.1b of investor money on PSRS scheme, I would like to encourage investors to hold onto their shares. Despite what people think, my personal isk is very limited but some day, just maybe, if I come into a large packet of isk somehow.. I might make a final make-up dividend. No promises, though. Not an investor in PSRS anymore, but that paragraph alone speaks volumes about your character and integrity (good thing of course). Shame to see these close down but it cant be helped. Good luck.
Hexxx Minmatar	Posted - 2008.01.21 01:41:00 - [13] I faced a similiar situation just before I joined EBANK. I was burnt out on running a 0.0 corp, we had just left an alliance which screwed us badly, etc. I dropped everything, I quit the Corp and resigned as CEO and basically cleared my plate. I knew that if I didn't, I would quit EVE. I applaud you on knowing when it was time to take steps to reduce your stress/burnout. Many people today play too hard to sustain their projects and end up getting burned out and even quitting. I urge all of you to take this an opportunity to learn how to better take care of what's most important; yourself. Further kudos on the execution of your exit strategy and all of your hard work. May your IPO (from beginning to end) serve as an example of the "right way" to manage a business. Many people have closed their IPO's for very similiar reasons. O'Mara for example did the same thing for almost the same reason, and I still view his reports as a Gold Standard for the markets. Consulting, IPO Template, and Stock/Bond definitions.
Akita T Caldari Navy Volunteer Task Force	Posted - 2008.01.21 01:57:00 - [14] To be honest, I am quite surprised you lasted so long, knowing how nasty the markets have been lately. Good call on calling it quits while you still have your sanity, and kudos on not leaving people hanging, wondering what happened. 1\|2\|3\|4\|5.
Nyphur Pillowsoft	Posted - 2008.01.21 02:51:00 - [15] Thank you all for your kind words. Between this thread and the evemails of support I've gotten, it is clear that people overwhelmingly support the decision and the reasons behind it even though they were hoping for a longer term investment. I'll be glad when all this is liquidated and I don't have to worry about it any more. Even now that I have announced it and there are no dividends to pay any more, I feel a lot better already. Eve-Tanking.com - We're sorry, something happened.
Sobach Gallente Fourth Circle	Posted - 2008.01.21 03:09:00 - [16] Originally by: Nyphur Thank you all for your kind words. Between this thread and the evemails of support I've gotten, it is clear that people overwhelmingly support the decision and the reasons behind it even though they were hoping for a longer term investment. I'll be glad when all this is liquidated and I don't have to worry about it any more. Even now that I have announced it and there are no dividends to pay any more, I feel a lot better already. It's ok, I'll pod you later ;)
LaVista Vista Conservative Shenanigans Party	Posted - 2008.01.21 05:03:00 - [17] Good thing you can be so honest about it. Mental illness is nothing to joke about. So please take care. I hope to see you back after yours exams :)
Akita T Caldari Navy Volunteer Task Force	Posted - 2008.01.21 08:13:00 - [18] Well, I doubt it's the "get a gun and shoot everybody" or "collapse in a corner sucking on a thumb" type of nervous breakdown, but more of a "angry and tired constantly", burned-out state. 1\|2\|3\|4\|5.
LaVista Vista Conservative Shenanigans Party	Posted - 2008.01.21 08:32:00 - [19] Originally by: Akita T Well, I doubt it's the "get a gun and shoot everybody" or "collapse in a corner sucking on a thumb" type of nervous breakdown, but more of a "angry and tired constantly", burned-out state. A nervous breakdown is more of an acute attack depression and/or anxiety state. And unless reacted on, it will eventually become a clinical depression. So if its a nervous breakdown as per the books, the "get a gun and shoot everybody" scenario isnt impossible. And you will be suprised how fast one person can go from a nervous breakdown to a such state. Im sorry for the offtopic.
Feta Solamnia	Posted - 2008.01.21 08:32:00 - [20] dp what I did when I had exactly the same problem. Join a silly pvp corporation and start shooting the crap out of people. Definitely relieves the stress. No more responsibilities and people screaming at you when you get late. Originally by: Oveur I have access to all market data. Believe me, we have not reached anything close to deflation yet.
Zeromancer Corp Zero	Posted - 2008.01.21 08:51:00 - [21] Thx for the report. I have great respect for you to come out in public about your problems. Now take some time off and get well.
PotNoodle Miner Viziam	Posted - 2008.01.21 08:54:00 - [22] Edited by: PotNoodle Miner on 21/01/2008 08:54:12
THEGREAT LOBO Infinitus Odium The Church.	Posted - 2008.01.21 08:54:00 - [23] I am an investor in PSRS and was hoping for a longer term investment, but i also understand the rl comes first. Take a break from eve, and if you come back next year with another idea for an IPO i will be gladly willing to invest again
Taurequis Waylander 01	Posted - 2008.01.21 11:26:00 - [24] Well done on all your efforts. Prehaps people should include RL issues and life breaks in their buisness plans more often. Like three months divs then a month "life break". Might stop corperate burnout. Best Regards, Taur
Roemy Schneider BINFORD Solidus Alliance	Posted - 2008.01.21 11:43:00 - [25] humm, sry i'm unprepared right now and i'm only pulling stuff from the top of my head; (i don't mean to be picky, and i'm not top-fit on this monday - and i fully understand how ccp raped moms) but! :D IPO was 40b aeon bpo was obtained for 15b can't remember the nyx purchase so i'll assume npc'ish 18b pos-fuel for... 2 months? what did i miss that's 6.something bil? - putting the gist back into logistics
ZahnSchmelz Montoya Heavy Industries	Posted - 2008.01.21 12:24:00 - [26] Heh, GL with RL issues and thanks for all effort.
Kara Rhane Gallente Rhane's Research and Development Labs.	Posted - 2008.01.21 12:28:00 - [27] Nyphur, Your one of a handful of people on here that I've just constantly seen post good reports, have happy investors and lead by a great example. The way your choosing to 'wrap things up' makes me have a deeper respect for how you've handled this entire situation. In my own 'Private IPO' we have 3 real life friends that know each other. One has problems the other two step up and help, sorry to say that I wish you had the same support system that I have been lucky enough to be blessed with. As for leaving for a while, i think we all need it. I barely register under the radar on these forums (if anything I lurk like crazy) but I took a good 2 months of time off, just signing on to throw BPO's into the labs and cut and make a reply on the forums if needed. But after those two months my god what a difference, real life was caught up on. All the projects and junk that had been neglected for literally a year+ I was able to tackle and I actually yearned to come back, take on new challenges and try new stuff (I still missed the post patch roaring market tho, boo!) If anything I think a few months of having time for anything else will be a good breath of fresh air and you'll even find yourself doing something else and thinking of what could be accomplished in EVE. You'll be back Finally, this is just a (maybe considered knee jerk reaction) but it appears as if some of your business is selling the BPC's of the motherships you have BPO's for. I'm not sure I'm the right person (reputation wise) but I have been running our little BPO/BPC service for a year+, I've built a solid reputation in running our service and even tho we are up to 9 pages on our thread, 200+ posts and I think around 15,000+ views. I'd say maybe that if your investors liked what they saw with our reputation maybe a shift, reissue, or even transfer of sorts of running might be able to be arranged? I might not know everything of your IPO, and I'm going to say upfront it's been many months if not longer that I was reading over your IPO. But maybe with the reputation we've built in our little (but long running ) service we might be the people to continue the IPO (in some fashion). I'm not to sure who here would know much about us, Ricdic and I have had good contact over the last year. He even saw me prepare my service and set it up since day one (even offered to merge into his company before we even started, but hey that's Ricdic ) A few others have seen me post from time to time, and I've got 9 pages of people that have had positive dealings with me over the past year. This is truly a shot in the dark and is meant more as a way to extend the service to your investors as well as giving me a shot at running an IPO of sorts (not too hard when it's already proven after all). I don't know what others will say about me or the corp but the offer to maybe start talks is there. I've been batting around the idea for an IPO for 5+ months, it's copy based and I told ricdic about it but didn't go ahead when I saw a few others do various parts of it on their own. If you think it might be a good match (and yes, feel free to ask ricdic about me fully if you even debate this idea for a second) then I am easily reached through EVE mail or maybe here. It's a thought, and apologies if this comes kinda sudden but your copy and sale of the BPC's fits hand in glove of what I've been drawing up plans for for the past months (that break from EVE nixed the plan in my mind). Yes this got wordy, but EVE mail offers too small a character limit to get this idea out there, and if a few investors or nyphur think it's not a good idea I'll see pretty quickly and respectfully withdraw the offer. Hope things go well for you. P.S. with current operations my corp wouldn't need any of your personal assets we have POS's and labs up with extra capacity. -Kara ***** Rhane's Research and Development LabsÖ Click to search our Ammo's, Missiles, and Drone BPO sets.
Pillowsoft Banker	Posted - 2008.01.21 19:31:00 - [28] Originally by: Kara Rhane Finally, this is just a (maybe considered knee jerk reaction) but it appears as if some of your business is selling the BPC's of the motherships you have BPO's for. I'm not sure I'm the right person (reputation wise) but I have been running our little BPO/BPC service for a year+, I've built a solid reputation in running our service and even tho we are up to 9 pages on our thread, 200+ posts and I think around 15,000+ views. I'd say maybe that if your investors liked what they saw with our reputation maybe a shift, reissue, or even transfer of sorts of running might be able to be arranged? Unfortunately, that wouldn't meet with the shareholder's approval as it wasn't part of the established exit strategy. What you CAN do is either offer to trade your shares for PSRS shares before liquidation or just offer your own proposal to PSRS's old investors once it closes down. I can't endorse either idea but also can't stop you from offering the service to them. I have to do right by my investors until everything's liquidated. We can talk more if you want to buy the mothership bpos. BTW this is Nyphur, my main account is inactive for a few hours while I get a game time code.
triman247 Glimmermere	Posted - 2008.01.21 20:20:00 - [29] I would like to start by saying that I know exactly how you feel. A few RL friends and I started a corp that got too big too fast and the stress really built up especially when 2 of our Co-CEO's went inactive. Also, I have been a shareholder since week 1 as a recommendation from an old friend. You have provided constant payments, and in getting out, it is my opinion that your reputation is not tainted at all because you were forward with your intentions and reasons. REAL LIFE ALWAYS COME FIRST! there are too many people in this game who have too much stress, and that is not healthy. It is the right thing to back away while you can and while you still have the mind to do so. Also, the guy who said that getting into a PvP corp and just killing a ton of people might be a good idea. Thats what I did when my corp got too stressful, and I have to say that it definitely changes the perspective on the game and adds a different twist away from the industry and research side, to which I have done both. But by all means, if you need a break from eve, quit! your characters will still be there if you need them in the future. Who knows. you might feel the withdrawal start to catch up on you a few months or years down the road Anyway, thank you for being the head for the only IPO I have ever invested in, and thank you for being honest to everyone. triman247
Karanth Gallente Eve's Brothers of Destiny Free Trade Zone.	Posted - 2008.01.21 23:36:00 - [30] I love you, and despite my lack of posting, I still pay attention. You are one of the hardest workers around, and I'd shower you with money anytime. All that's left... There is only one sig hijack that matters, the orginal and only member of the hijack squad. me. -Eris. ps Black russians are better then beer. Well, there's not many of us left! -Rauth

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Pillowsoft Investment fund (PIF):

Pillowsoft Secure Return Shares (PSRS):

Final thoughts