Assens Letta
Hunerian Science Institute
Virtue of Selfishness
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Posted - 2008.10.11 21:56:00 -
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Later last year I had a few RL issues that made it unable for me to play eve online, as a side effect of it HUNSI production pretty much stopped and Kod had to change the business structure of the corporation, thus HUNSI was temporarily unable to come to terms with the goals and with the duties to investors, as it should.
The Hit By a Bus protocols even when put in place (which enabled HUNSI to survive) were not able to cope with the demands, that was particularly my fault, a fault that we have set up to correct.
HUNSI his going to restart building as a corporation, using the previous model it had but improving on the labour distribution, improving the tasks of its members so that in any hit by a bus event of any of its composing members someone knows what must be done in a particular job and can step in its place (even if temporarily).
So is HUNSI back in business? The answer would have to be yes, as a matter of fact HUNSI never left the business, nor stopped, HUNSI had to shift from a corporate model to a ôeveryone for himselfö model with all the drawbacks that it meant.
Why has HUNSI taken so long to pay up its debts? Truth be told HUNSI could have paid its debts in a single month, but that would have meant selling the fixed assets HUNSI had. The bottom line situation was that HUNSI still had the people that made it work inside, HUNSI was still capable of generating profit, and to sell the fixed assets would have meant declaring bankruptcy and re-starting from scratch. We preferred to take the long term approach, were we use the assets and the infrastructure we have in order to set things right and to come out stronger.
As we set things back straight with the investors (some work has been done in that are as you all know threw the MD posts) and we re-start building as a corporation we will look in to getting everything back into step with the long term goal we wanted to accomplish (both individually and as a corporation).
HUNSI never had the obligation to report to the market about its income statements (as we did in the past), nevertheless we did it, we will resume that practice as soon as we re-start building t2 items as a corporation, the main reason behind it is that we want the market factors to be informed on how well we perform thus enabling us to increase our market status (a status that was severely affected by the last months events).
To all the investors and to everyone inside HUNSI, I owe a debt of gratitude, for their patience, for their efforts, for their willingness to stick it thru the bad times.
Thank you very much
Assens Letta
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