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Proton Power
Power Corrupts Tech
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Posted - 2008.06.05 20:37:00 -
[1]
It is a sad day for me today, but I have failed. I can't seem to get motivated enough to even sign into Eve right now, and after only a month or so back with this feeling it would not be right for me to hold on to your isk and pay close to nothing in dividends.
I will be closing PCT out and selling everything I can quickly as possible to consolidate 69bil in actual isk and get it paid out.
I appologize for this, and I am sure some will flame me for it, but honestly its a game, and it's becoming a game I don't enjoy any longer.
I still consider most of you friends, and will post here still, but over all this is / was my last attempt at an IPO, if I try to open another cruicify me please.
I have a small deployment in 2 weeks, so my plan is to payout atleast 40bil by then, and then work on the other 19bil. I may sell a few personal assets to speed the process up some. -----------------------------------------------
http://oldforums.eveonline.com/?a=topic&threadID=439797Cli |
Athre
The HIgher Standard
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Posted - 2008.06.05 20:45:00 -
[2]
I applaud you in liquidation vs holding assets for "some day". Not an easy decision.
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YouGotRipped
Ewigkeit
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Posted - 2008.06.05 20:47:00 -
[3]
Don't take it so hard on yourself, I'm sure the rest will understand. Before you go I want you to know I love your sig.
Motherships |
Amarr Citizen 155
Alternative Methods Research Group
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Posted - 2008.06.05 20:48:00 -
[4]
Originally by: Proton Power
I have a small deployment in 2 weeks, so my plan is to payout atleast 40bil by then, and then work on the other 19bil. I may sell a few personal assets to speed the process up some.
Should that be 29bill and not 19bill?
---------------------------------------------- Why do it the hard way when you can do it the AMARR way. |
Proton Power
Power Corrupts Tech
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Posted - 2008.06.05 20:57:00 -
[5]
Originally by: Amarr Citizen 155
Originally by: Proton Power
I have a small deployment in 2 weeks, so my plan is to payout atleast 40bil by then, and then work on the other 19bil. I may sell a few personal assets to speed the process up some.
Should that be 29bill and not 19bill?
Yea what you said :). All 69bil will be paid in full. I can't promise a date, I have a lot of assets to get rid of, and will keep buy orders up for now so that I don't take a hit on all the fee's. Once I see a lot of the orders settle I will clear them all out.
40bil+ should be fairly quick, its the last bit that becomes harder to clear out. -----------------------------------------------
http://oldforums.eveonline.com/?a=topic&threadID=439797Cli |
Treelox
Market Jihadist Revolutionary Party
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Posted - 2008.06.05 20:58:00 -
[6]
<3 PP
I suspect that the game changed way to much during your last +10month deployment. It killed off many a MD person and a lot of the old school have quit, go on serious break, or just dont even bother anymore.
Not sure how your doing the refunding, if it is a buyback, i am content to wait for a while with my 5bil worth of shares. I have known you way long enough to trust you to take care of things.
p.s. bother me on msn and we can cry about how CCP hates industrialist. --
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Hexxx
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Posted - 2008.06.05 21:02:00 -
[7]
Thanks for being upfront with us about the turn of events.
Your contributions and previous work stand on their own as to your commitment and ability. Don't feel guilty about withdrawing, it's just that time for you. All of us are going to reach that point sooner or later.
Director | www.eve-bank.net
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Daegrath
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Posted - 2008.06.05 22:26:00 -
[8]
Can I buy some of your stuff? :)
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EBANK Ricdic
Eve-Tech Savings n Loans
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Posted - 2008.06.06 02:31:00 -
[9]
Hey Proton sorry to hear but it's better for you to shut down than to run something you aren't enjoying. Contact me on MSN, we can offer you a low interest loan (ie very low) to cover the remainder until you can get that 19b difference, so you can basically get your investors all paid out
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Maestro Del'Tirith
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Posted - 2008.06.06 03:13:00 -
[10]
I am happy to see somebody closing out and returning money to their investors, as opposed to wandering off with it.
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Kylar Renpurs
Dusk Blade
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Posted - 2008.06.06 03:35:00 -
[11]
Sounds like a good time to get back into T2 Components
On a more serious note, sad to see this close up, even though I had no finger in it. But even as a secondary bonus it's probably the best thing for your investors. When I closed up shop, I noticed margins were getting thinner, and your May dividend furthered that thought. Looking into some casual income by throwing up a cheap T2 component line for a month, I realised how bad that market had become.
Good job running an excellent business PP.
Improve Market Competition! |
Vhaluus
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Posted - 2008.06.06 04:02:00 -
[12]
you're just trying to back out of our bet
no but on a more serious note, I may be new here but you seemed like a decent guy so I'm sorry to see you go.
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Admiral Kwint
Lothian Quay Industries
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Posted - 2008.06.06 06:03:00 -
[13]
Originally by: Proton Power
I appologize for this, and I am sure some will flame me for it, but honestly its a game, and it's becoming a game I don't enjoy any longer.
Sorry to hear that, I hope you continue to lurk around MD.
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Ray McCormack
hirr
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Posted - 2008.06.06 06:05:00 -
[14]
Sort your wife out tbh.
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Ambo
Dirty Deeds Corp. Axiom Empire
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Posted - 2008.06.06 06:15:00 -
[15]
Well that's dissapointing.
Thanks for actually liquidating rather than just wandering off and leaving everyone in the lurch as happens far too often. --------------------------------------
Trader? Investor? Just want to track your finances? Check out EMMA |
Feronia
Magma Industries
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Posted - 2008.06.06 07:37:00 -
[16]
Its sad to see this happen so fast, but I'm sure you've thought this through and did the right thing. The least we can do is respect your honesty and give you the time needed to repay your investors.
Take a small break and come back motivated enough to enjoy EVE again.
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Shar Tegral
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Posted - 2008.06.06 08:08:00 -
[17]
Originally by: Proton Power It is a sad day for me today, but I have failed am tired.
Corrected it for you. Imnsho I'd change the thread title to "PCT Closing Shop, CEO Retiring." Originally by: Proton Power I have a small deployment in 2 weeks
This is the only part that I find of any concern. I hope this is a training deployment but even then I know how dangerous training is as well. Either way, wish you well and god keep you & yours.
To Shar -verb: 1 - To say what you mean. 2 - To say what it means. 3 - To say something mean. |
Level4
Red Frog Investments Blue Sky Consortium
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Posted - 2008.06.06 09:33:00 -
[18]
Originally by: Treelox <3 PP
I suspect that the game changed way to much during your last +10month deployment. It killed off many a MD person and a lot of the old school have quit, go on serious break, or just dont even bother anymore.
Not sure how your doing the refunding, if it is a buyback, i am content to wait for a while with my 5bil worth of shares. I have known you way long enough to trust you to take care of things.
p.s. bother me on msn and we can cry about how CCP hates industrialist.
Some of us still hang around Treelox, waiting for CCP to have an "aha" moment... I hope lavista will shake them up a bit :)
Join channel Profit
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Proton Power
Power Corrupts Tech
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Posted - 2008.06.06 10:45:00 -
[19]
Few quick answers.
1) Not backing out of the bet, that was my isk not IPO isk, even though after today both will be mixed in to expidite the liquidation a little faster. Congratz on the win though, I will send the isk soon as I get home.
2) The deployments have always been part of the IPO, and told everyone that I have 2-3 week deployments lined up for the first few months. We are only leaving for I think 3 weeks tops, and its just around the States showing off the Navy.
3) I will be liquidating via Dividends so that everyone gets thier isk they invested. I will do a large payout soon as some things wrap up and I sell a large chunk of the IPO. Once that is done, the other bit may take longer, but you will get your isk. -----------------------------------------------
http://oldforums.eveonline.com/?a=topic&threadID=439797Cli |
Kazzac Elentria
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Posted - 2008.06.06 12:07:00 -
[20]
Good on you for recognizing the train before it derails Proton.
Handle your business man, because in the end. This is still just a game. |
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Vhaluus
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Posted - 2008.06.06 12:41:00 -
[21]
Originally by: Proton Power Few quick answers.
1) Not backing out of the bet, that was my isk not IPO isk, even though after today both will be mixed in to expidite the liquidation a little faster. Congratz on the win though, I will send the isk soon as I get home.
2) The deployments have always been part of the IPO, and told everyone that I have 2-3 week deployments lined up for the first few months. We are only leaving for I think 3 weeks tops, and its just around the States showing off the Navy.
3) I will be liquidating via Dividends so that everyone gets thier isk they invested. I will do a large payout soon as some things wrap up and I sell a large chunk of the IPO. Once that is done, the other bit may take longer, but you will get your isk.
it was a joke :)
honestly, I'm not worried about it.
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cosmoray
Cosmoray Construction
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Posted - 2008.06.06 12:54:00 -
[22]
Sorry you are closing up.
Are you looking to sell any BPO's?
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Roemy Schneider
BINFORD
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Posted - 2008.06.06 13:44:00 -
[23]
butbutbut...
what about the upcoming patch.....: "Manufacturing waste amounts will now round correctly."
*bashes some hope back into PP* - putting the gist back into logistics |
Ulstan
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Posted - 2008.06.06 21:06:00 -
[24]
Aw, sorry to see you go PP! CCP crushes the joy out of yet another MD'er.
I wouldn't call this IPO a 'failure'. I mean, you're not scamming people and your business plan didn't fail. As long as you liquidate in a timely fashion and send people back their iskies I can't imagine reasonable people having complaints.
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YouGotRipped
Ewigkeit
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Posted - 2008.06.07 04:27:00 -
[25]
Edited by: YouGotRipped on 07/06/2008 04:41:25
Originally by: Ulstan Aw, sorry to see you go PP! CCP crushes the joy out of yet another MD'er.
It has nothing to do with CCP. The project that he's undertaken was too ambitious even for an industrial corp. The point of playing a game is to enjoy it and not to toil all day. As long as you make enough isk to sustain your pvp habits etc there's no need to play the hero. Compare this with the story of a bald guy (Shadarle anyone?) that enjoys pushing himself harder and harder every month for reasons known only to him. What a wuss!
hahah
Motherships |
Danari
Viper Squad Souls of Vengeance
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Posted - 2008.06.07 09:37:00 -
[26]
Is there anything I can do to convince you that if the game isn't fun you shouldn't forum ***** either?
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YouGotRipped
Ewigkeit
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Posted - 2008.06.07 12:14:00 -
[27]
Edited by: YouGotRipped on 07/06/2008 12:15:34
Originally by: Danari Is there anything I can do to convince you that if the game isn't fun you shouldn't forum ***** either?
A generous donation. I don't promise anything though.
Motherships |
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