This first post will simply be the index and update page for this bond. The index will be edited for linkage as sections come online.

1 - Introduction
2 - Details
3 - Auditors Report
4 - References (Sublinks of course)
5 - Clauses
6 - Investor Listing
7 - Errata & Changes (Again Sublinks)

{Several posts to follow as the board allows.}

[WTS] Tech II Component BPO Sets

Introduction

Firstly let me state that I did intend to get all detailed and wordy for this however I realized that, well, I'm not interested in doing that nor do I think any of you are. This is not to say that doing a bond or ipo is about not caring to do something but over time all the expected standards have created a legalese type environment. A place where clauses and sub paragraphs more define an offering then the offering itself. So, as in the past, when I think it is time I just try to lead by example.

Mind you this is not a social project of mine, there is a real purpose and goal for this bond. But in equal measure it is also about how one should do things, about what is good way of running affairs, about leading from in front instead of being a r.e.m.f.. I do not plan to redefine profit sharing or interest rates here but mostly about the importance of plain speech.

So I'm going to be blunt, going to list what is what and what is not. Anything that I seem to have missed or you feel was not sufficiently clear please feel free to ask for more information. Some questions will not be answered no matter what but I'll specific those areas clearly. Shall we begin?

Who Am I
(If you can't be bothered, freely skip this part.)

I am a beta player. I have, in my time, been; in TTI and the first Venal conflicts; been a reporter and later editor/operator of the old news site Eve Guardian; issuer of several repaid bonds and one completed (but underperformed) IPO; emeritus member of the eBank Board of Directors (proudly so even if I troll them sometimes); friend and battle mate of Celestial Apocalypse during last year's Insurgency; long time and respected member of these boards who has also earned the occasional week to 90 day ban; and (most importantly) ******* that simply speaks what I know as truth even if it means admitting I'm wrong or an *******.

Impressive yes? I like to think so though I rarely toss in people's faces. Most of what I believe, which is a large part of who I am, that a person's value is not only determined by the accolades or kudos of yesterday. That true self worth requires a reinvestment internally as well as the reaping of one's just rewards. I believe reinvention is the only way to keep oneself sharp, motivated, and challenged. It is my own personal motto, it is also the motto by which my corp mates function, and I think it is the surest way to avoid burnout in life and in Eve.


Why Should I Trust You?

I always answer this question with, Don't.

I'm not going to feel comfortable getting into a relationship with someone who has not done some level of research. I want no lemmings at my feet or on my coattails. One of my key methods of avoiding stress is to make sure that there are no lemmings vested in me. I don't need people who don't get it whining up my arse with nonsensicals when my time could be, and is, better spent elsewhere focused on business, not coddling.

So if you can't handle having someone possibly calling you a moron, don't invest here please.

Details: Part 1

Total Bond Amount: 6 - 12 Billion
Bond Value: 500M each

The reason for the variance? Mostly based around the fact that I can comfortably absorb 12 billion to effect my intended goals. However I am not inclined to linger around waiting to see if I can raise the maximum amount at this time. If I raise less, so be it.

Interest Rate: 2% preferred, 4% maximum

It goes without saying that I would prefer to finance this bond with as low an interest as possible. I understand that you are going to want as high as possible. So I'm going to do a dutch auction for each bond of the entire issue. Bidding will start at 4.00% and bid increments is -0.1%. 2% interest rate is a buy out position. Overall bond interest rate will be an average of the final bids on bonds. If five sell at 2%, and 10 sell at 3%, the interest rate of the issuance will be 2.66% for all involved parties.

Also this will be, like all of my other previous ventures, a manually administered bond. I still find that there are many failings to the Eve share system and until such a time there are better financial documents/mechanisms I won't, myself, ever use Eve shares as financial tools.

Before we get into any complaints or disparagement about the low ball interest rate let me clarify something, this is low risk. I can not think of anything more low risk than this. Of course I'm saying that and I could be very biased. I'm sure we'll agree on that in general without having to get specific. That being said, I won't mind if you post "too low interest for me". (Not that I could stop you but I'm just saying no feelings either way if you do or don't.)

The Plan: Withheld

Speculate all you wish but if you do your research I am consistent with the fact that I do not specifically discuss the purpose of any bond I issue. Withholding this information is, as always, as much personal choice & style as it is in my opinion prudent. My plans are not totally subject to interuption, not very much at all, however I prefer not to tempt fate, or other Eve players, as well.

However with this in mind I've decided to take some additional precautions and a few extra steps to reassure people that I'm not cashing in on my reputation or have suddenly decided I want to buy a carrier pilot & industrial toon to satisfy some dream. Several clauses are going to cited and institued to address a few areas I feel of important, an auditor has already been at work looking at both of my accounts, and I've made sure that my corp mates are upto speed in case of any sudden absence. In fact, I've been so detailed that even if there should be a sudden absence matters can continue unabated.

Scheduling

All things being equal all bond repayments will be on, or before, the 15th of each month. All payments will be one month in advance as well. There are no reports expected to be issued, no need for e-peen spamming, however every 3rd month a report will be issued and the continuation status of the bond will be up for deliberation by involved parties.

Buybacks & Secondary Market

Buybacks will be offerred at every 90 day cycle. There is no secondary market, period. Anyone wishing to cash out will contact me, prior to the 90 day mark, and their buyout will be listed in the 90 day report. Anyone else wishing to pick up those bonds at that time may do so from the reservation list that will hopefully form.

Let me reiterate, strongly, there will be no transering of bonds. Only the person I agree to do business with will be the owner of the bond and recipient of any funds whatsoever. (If someone gets jammed up - tough crap mate.)

Details: Part 2

Acceptable Parties & Bids

No one person may own more than two (2) five hundred million (500,000,000) bonds. Period.

To ensure this is so I'm invoking the Ricdic Clause here: No bid is considered valid until I have approved of that person. Do not waste my time with alts or total unknowns. If your toon has been sold and the name is anywhere, go to hell for all I care. If you think that I would have a personal objection to being in your presence, then you can rest assured I don't want your isk either. So please, do not make me embarrass you (though I'll try my damnedest) by bidding when your dumb ass know you should not.

(I called it the Ricdic Clause in humor of Ric's habit of alt bidding too many shares, no other reason.)

In regards to publishing an investor's list I am going to go with this. There will be no anonymous or silent investors. A list of all investors will be maintained including the amount of their investment.

Other Loan Mechanisms

Since this is a valid question I thought I'd answer: BMBE is apparently not an option though I did try exploring it. eBank is an option that I would find to create some conflicts of interest. Out of respect ot them (good feelings and bad history both) I simply have not decided to go this route. In either case neither would be an ideal solution for my own purposes nor do I think it would benefit you, my future investor, either. (Refer back to I know it's a low rate, get over it.)

Collateral & Audit

The purpose of the API audit is two fold. Firstly it is to adhere to a commonly accepted standard of conduct that I myself encourage. Secondly, it is to confirm that I have readily liquidatable assets in the case some form of disaster strikes. The choice to not offer up collateral is essentially to the choice to keep productive assets productive for my, and this bonds, purposes instead of someone else's benefit & interest payments. Just does not seem like a smart move to me.

I'm not going to comment on what Kazuo is going to report however safe to say that there are plenty of bpos involved and that they are easily liquidatable (if in excess of the bond), that they are locked down, and that I have control of lock down with alternates who can monitor the status (or change it if absolutely necessary) of all locked down bpos. This is also just in the way of blueprint assets. I also have good quantities of speculation products.

Essentially, I could sell a crap load of stuff to make this possible however I might take some losses doing so thereby negating any gain I would see.

One point of fact, Kazuo and I only discussed reparation for his services briefly and mostly in passing. In his opinion this project is not worth his investment though if I offered him a discount it may become attractive to him. My solution is thus: I know in my head how much of a discount I'll give, he does not. So if he invests I'll disclose that at the time of investment, if not, he's still pretty much unrewarded and out of any conflict of interest zone.

References

I'm not listing any references though I did place a spot for references in the index. I suspect that I'll have a list of good, and bad, references spontaneously appearing. When those appear I will simply link to those unsolicited (and perhaps unappreciated) comments.

Clauses

Ricdic Clause: No alt usage to attempt to purchase more stocks/bonds than is permitted by the issuer.

Cosmoray Clause: Specify specific time frames/milestones for investor/public discussion and review.

Taikun Clause: Health issues. I'm off chemo and was certified cancer free about a month ago. This being my second battle with it health could come up as an issue in the future. The HBB clause will also cover any sudden hospitalizations.

Hit By Bus Clause (HBB): In the case that I should be hit by a bus or suffer some other form of unfortunate event the prevents this project from continuing in good faith Athre shall be considered the point of contact and executor of fund. This does not preclude the fund continuing or shutting down however it does specify who is next. (My wife is not, nor ever will be, willing to bother with Eve enough to handle this: She thinks we're all nuts anyway.)

{This section is as much informational as it is humor.}

[WTS] Tech II Component BPO Sets

TL:DR

Dutch Auction
Amount: 500M
Available Bonds: 24
Start Bid: 4%/month
Buy Out: 2%/month

Final interest rate will be determined from the average of all bids. No bid as good until I say accepted.

To Shar -verb:
 1 - To say what you mean.
 2 - To say what it means.
 3 - To say something mean.

Originally by: Kazzac Elentria

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Tempted, but my investors wanna know what they're isk would be used for.. if even only hinted at

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Understandable. Of course this is the idea behind going bond/cd instead of IPO. I'm open to many disclosures however the actual activity I'm keeping close to me chest.

Originally by: Ray McCormack

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Your reporting of my well timed initial post is deemed unacceptable. I therefore won't be investing. It has nothing to do with the low interest rate or ridiculous stipulations.

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Actually I regret it as I realized that interruptions were unimportant with the format I'm using. But your disinterest is noted.

To Shar -verb:
 1 - To say what you mean.
 2 - To say what it means.
 3 - To say something mean.

Originally by: Khrillian

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1-Are you going to manually pay out interest instead of using the share dividend mechanic? If not, how will you enforce reselling?

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Covered in the detailing but this is manual.

Originally by: Khrillian

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2-Why are you using average bid to determine the interest rate? You do realize you might get some people pulling out because of that after the fact - if the interest rate they get is significantly lower than what they bid.

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That is a common risk of Dutch auctions. Not an unusual circumstance. Anyone that backs out over such is not worth doing business with.

Originally by: Khrillian

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3-You say this project has a real actual purpose, but you're a trader who has been around since beta. Seriously, why the hassle to get just an extra 12bil?

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Hassle? This isn't hassle at all. Of course this ipo serves several purposes besides itself. Lets see:

- E peen: I get the chance to show people I know what I'm doing and that I can do it.
- Leading: I get to help show people how it is done. While they may not be able to work as blithely with certain issues as I do here I'm demonstrating a well thought out prospectus.

Originally by: Khrillian

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4-Why do you care who buys your bond? You can block them if they bug you ingame.

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Oh it is not in game activities that bother me. Any serious haters/annoyances don't get blocked, the get war dec'd. But my reason here is that, as I listed in the details, I prefer who I deal with and I'm also keeping the individual limit as a hard limit. It won't be perfect of course but no harm in trying.

(A fine example: I wouldn't accept investment from Riethe.)

Originally by: Enihcam Xes

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I will bid for two bonds at 4% interest.

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Bid with your main and your bid will be acceptable. (You are obviously a research alt mate.)

To Shar -verb:
 1 - To say what you mean.
 2 - To say what it means.
 3 - To say something mean.

Originally by: Ambo

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3) Perhaps I'm missing somthing here but BMBE's loan is 2% per week interest, that would be costing you 8%+ per month. I'm not sure of Ebank's rates but I believe they are generally in the 10%+ per month range? So you're happy to give them (or BMBE at least) that much per month but not public investors? seems... wierd, that's all.

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I'll ignore your other comments as I think they are either hostile or uniformed. Other involved parties have, as of yet, shown up to confirm various securities/collaterals/audit so jumping into those issues is a bit... premature. (Even getting drawn into your debate is premature at this point)

However on this issue: If you read you would see that I choose not to entertain BMBE or eBank rates. I review them as possibilities, yes. It is one of the things I commonly suggest to people before they go public. So, of course I looked at that option.

So, while you may feel a bit of hostility over the rate (your prerogative) trying to find fire where there is no smoke is a bit over the top.

Oh and let me say this: I'm not going to get dragged into discussing Fury/Feronia. I've never acted like them, I do provide sufficient accountability and transparency where prudent, and I'm not asking for all that much. There is only one person's cross I carry, no one else's. (Besides Ambo, when you go on in someone's ipo thread about "who are you" are you saying that reputation matters not at all?)

To Shar -verb:
 1 - To say what you mean.
 2 - To say what it means.
 3 - To say something mean.

Originally by: Vitamin Deficiency

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Shar is an elitest *******

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I agree with half of this statement. I do not think I'm elitist.

While the more dramatic confrontations draw more attention there are many who I have assisted, without any personal gain, to achieve their goals. I've never violated a trust, never failed a payment, never broken my word either. Just because something appears one way on the forums does not necessarily make it true.

If elitism is to try to keep certain standards as standards, then perhaps I am elitist. I'll have to seek guidance on this.

To Shar -verb:
 1 - To say what you mean.
 2 - To say what it means.
 3 - To say something mean.

Originally by: Jaeger Orlofsson

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Reserving 500m at 4% pending audit

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I know who you are (& your alt! ) and I'm happy to accept your bid.

To Shar -verb:
 1 - To say what you mean.
 2 - To say what it means.
 3 - To say something mean.

Originally by: jna

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EDIT: btw, I might be blind, but don't see a close date for the auction...?

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See Tree, there was something missed.

End Date of Auction: 22-Sep-2008, DT.

As each 90 cycle comes to a close any newly available, or remaining, bonds will go up for auction again. This will of course effect the overall interest rate at that time.

Originally by: Leaf Blossom

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2 bonds @ 4%

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Sorry, no alt bids allowed.

To Shar -verb:
 1 - To say what you mean.
 2 - To say what it means.
 3 - To say something mean.