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EBANK: 1 Year, 1 Trillion, 1 Major Report

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Mr Horizontal Gallente KIA Corp KIA Alliance	Posted - 2008.10.13 18:53:00 - [1] Happy Birthday EBANK! On October 1, EBANK has been operating for a whole year since launch. In doing so, EBANK also surpassed 1 trillion in customer deposits, although its NAV had surpassed that earlier in August. Staff changes With this, I would also like to announce that Hexxx has decided to step down from the chair and resigned his directorship but remains within EBANK as a member of staff due to RL having got significantly busier. This was at his request, and following his recommendation and a vote, I have been elected as the new chairman. Pang Grohl has also stepped down due to RL as well, and Athre has been promoted to a director. Meanwhile Amarr Citizen 155 has also joined EBANK to help PP and Ricdic. New expansion to 1.25T With this announcement, we are also announcing a new expansion to 1.25T, or an extra 250b. As you can see from recent sales, we have reshuffled our investments a little, due to some excellent opportunities and rather need to have a bit more cash injected into EBANK. You can blame PP, Ric and Anastasia for being too efficient at making money, and at the moment they're biting at the bit to expand and make even more money. So give it to them please, and get PP, Ric and Anastasia off my back. Please also be sure also to have your emails within EBANK up to date. Annual Report In the process of becoming chairman, I went away to ensure I knew absolutely where the last cent of ISK in EBANK is, and after a couple of weeks of discussion with the board ensuring everyone knew where EBANK stands, the report has been edited and expanded for public consumption to form a full 26 page Annual Report. As a bonus, it has pretty charts too. EBANK Annual Report 2007-2008 This report details almost everything you ever wanted to know about EBANK; how it makes its money, who does what, the rationale behind its decisions, and why it operates in the way it does. Please ensure you read the report wholly and carefully, as I won't be answering inane questions already stated in the report. Director \| www.eve-bank.net
EBANK SentryRaven Eve-Tech Savings n Loans	Posted - 2008.10.13 18:57:00 - [2] \o/ ---- ------------------------------------- SentryRaven - Forum Manager
skilzrulz Gallente OneZeRO Enterprises	Posted - 2008.10.13 18:59:00 - [3] hurray
Shadarle	Posted - 2008.10.13 19:02:00 - [4] Edited by: Shadarle on 13/10/2008 19:02:44 And people wondered why I was so harsh on ISSO. An entire corp could hardly manage to make 5% on 300 bil or so. Here you have 10 people or so making more than that on 1 trillion and have found people who only want 1.5-3% in return! Quite interesting to see how much money is truly out there in there for safer investments.
Shar Tegral	Posted - 2008.10.13 19:03:00 - [5] If they are making good money... why do they need to get more money for the community at way cheaper then IPO standard? eBank taking a page out of CCP's book and bilking their own customers? To Shar -verb: 1 - To say what you mean. 2 - To say what it means. 3 - To say something mean.
Alz Shado Ever Flow Axiom Empire	Posted - 2008.10.13 19:15:00 - [6] Originally by: Shar Tegral If they are making good money... why do they need to get more money for the community at way cheaper then IPO standard? eBank taking a page out of CCP's book and bilking their own customers? They need more deposits to be able to pay the interest rate on the previous deposits, so they can advertise for more deposits, to pay off these deposits...etc etc //// ---------=== []= ---------=== \\\\ Rifter(RedBad) "Kill a man one is a murderer; kill a million, a conqueror; kill them all, a God." -- Jean Rostand
Shadarle	Posted - 2008.10.13 19:18:00 - [7] Originally by: Shar Tegral If they are making good money... why do they need to get more money for the community at way cheaper then IPO standard? eBank taking a page out of CCP's book and bilking their own customers? It sounds like you're saying they should stop being greedy and should pay out more than they have to out of the kindness of their hearts. Perhaps I misunderstand what you mean.
Leon Angeal	Posted - 2008.10.13 19:22:00 - [8] Very interesting read, congratulations on your success :)
cosmoray Cosmoray Construction	Posted - 2008.10.13 19:24:00 - [9] Interesting read. No major flames, just a couple of questions: 1. Page 26, it says you have a relationship with BMBE in place now, correct? It would be nice to let TS let his shareholders know! 2. Collateral on Default loans. It seems that EBank is holding a lot of valuable goods that require selling. Trolling through the WTS forums everyday can be a pita. Why don't EBank put up their list of for sale items on their website, with a sale / reserve price that they would take. It would then allow potential purchasers to look at the entire list and make sensible offers. Saves ALTS putting loads of threads on the WTS forum.
LaVista Vista Conservative Shenanigans Party	Posted - 2008.10.13 19:25:00 - [10] Originally by: Shar Tegral If they are making good money... why do they need to get more money for the community at way cheaper then IPO standard? eBank taking a page out of CCP's book and bilking their own customers? Fractional reserve banking and debt. Useful read.
LaVista Vista Conservative Shenanigans Party	Posted - 2008.10.13 19:26:00 - [11] Originally by: cosmoray 1. Page 26, it says you have a relationship with BMBE in place now, correct? It would be nice to let TS let his shareholders know! Correct. But it was only put into place some odd 3 days ago actually. But a part of our agreement WAS that the public should be notified about the specific terms. I will make sure this is done asap.
Mr Horizontal Gallente KIA Corp KIA Alliance	Posted - 2008.10.13 19:37:00 - [12] Originally by: cosmoray 1. Page 26, it says you have a relationship with BMBE in place now, correct? It would be nice to let TS let his shareholders know! Yes. LV is playing viceroy with TS here as he said above. Originally by: cosmoray 2. Collateral on Default loans. It seems that EBank is holding a lot of valuable goods that require selling. Trolling through the WTS forums everyday can be a pita. Why don't EBank put up their list of for sale items on their website, with a sale / reserve price that they would take. It would then allow potential purchasers to look at the entire list and make sensible offers. Saves ALTS putting loads of threads on the WTS forum. We will with Merchant Services, but I believe they're ingame contracts. This is Ricdic's domain so I'll let him answer exactly :) Director \| www.eve-bank.net
Shar Tegral	Posted - 2008.10.13 20:06:00 - [13] Originally by: Shadarle It sounds like you're saying they should stop being greedy and should pay out more than they have to out of the kindness of their hearts. Perhaps I misunderstand what you mean. Yes, you do misunderstand what I'm saying. Mostly I'm just annoyed that ebank has not quite been honest with the community. However, as you often say, there is no surprise to what a community of idiots will accept. Again, I'm not saying that they haven't made some smart moves here and there but truth be told they were moves of desperation. Well thought out hail mary's, not forward looking. The price for hitching up to 1 trick ponies, again and again, and for not diversifying or improving practices/systems/people. Doesn't stop the ebank from trying to sell another "perspective" like only scientologists can. To Shar -verb: 1 - To say what you mean. 2 - To say what it means. 3 - To say something mean.
Lexander Morinex Caldari LDD Investments	Posted - 2008.10.13 20:28:00 - [14] First of all, I am going to offer full disclosure. Though it is not generally known, I have a working relationship with Dynasty Bank, therefore my comments have to be evaluated in terms of that relationship. Comment One: EBank has 30% of its assets locked up in the manufacturing operation of one person? No wonder Shar Tegral screamed. If one person scams, then EBank has less capital in the bank than deposits it owes. From a risk management perspective, this really bothers me a lot. It basically means that EBANK is a manufacturing company, with PP in control of a large portion of the assets. Comment Two: A nearly 1/3rd loss on loans due to scams. That isn't your fault as such, but does point out how risky such a business is. Comment Three: Loan growth has essentially stopped. But you want to add more deposits? I assume that means production will become a higher percentage of the business? So basically EBANK is offering less than 3% on a manufacturing IPO? Comment Four: Overall, you guys are to be celebrated. Pretty impressive, despite my particular concerns. - Lexander Morinex
Ambo State Protectorate	Posted - 2008.10.13 21:22:00 - [15] Very interesting read, nice to finally be able to see behind the curtain a little. Just a couple of points: 1) I thought some of the graphs were more confusing than helpful due to slightly unclear labling, but that's not exactly a big deal. 2) You speak of having 3 'buckets': manfacture, trade and loans/shares. You also say that each of these is allocated roughly 1/3 of the useable capital. However, the later tables clearly show that there is nothing at all invested in trade and has not been for 6 months. Is this beacuse you've just started trading again after a break or do you actually only have 2 'buckets'? 3) You guys have worked really hard and have created somthing really impressive here. No matter the faults. Keep it up! -------------------------------------- Trader? Investor? Just want to track your finances? Check out EMMA
Mr Horizontal Gallente KIA Corp KIA Alliance	Posted - 2008.10.13 21:24:00 - [16] Originally by: Lexander Morinex EBank has 30% of its assets locked up in the manufacturing operation of one person? If one person scams, then EBank has less capital in the bank than deposits it owes. From a risk management perspective, this really bothers me a lot. It basically means that EBANK is a manufacturing company, with PP in control of a large portion of the assets. This is a very naive comment, since you don't take into account that 100% of the profits EBANK makes gets put back into the bank. If everyone withdrew their ISK, we'd still have 64b in the bank, and still be the biggest bank, with 0 liability! And the profit isn't counting the assets EBANK owns which themselves have grown considerably in value - we've only accounted for what we bought them at. What PP does and how he does it will remain confidential. You have a right to see the fruits of his labour, but not how and what he deals with. Needless to say, PP, Ricdic and AC can't do anything with that operation without other people on the board knowing about it. Plus, 300b isn't big in PP's standards. Originally by: Lexander Morinex A nearly 1/3rd loss on loans due to scams. That isn't your fault as such, but does point out how risky such a business is. Section 3.2: Risk Report. We don't believe there is anything wrong with loans. And in the worst case we have only lost 1.24%, not 30%, since you clearly are ignoring collateral and accounting for the loss against the profit made from loans alone and not from the total principle lent out. Originally by: Lexander Morinex Loan growth has essentially stopped. But you want to add more deposits? I assume that means production will become a higher percentage of the business? Page 6, penultimate paragraph. We have consciously kept loans constant before chasing them again. Production is already ramped to maximum. We have another 33% to play with, and we're still figuring out what's best. In the meantime Ric is playing mega market manipulator. Originally by: Lexander Morinex So basically EBANK is offering less than 3% on a manufacturing IPO? You think this is the only announcement? Originally by: Lexander Morinex Overall, you guys are to be celebrated. Pretty impressive, despite my particular concerns. Thanks, I guess. Director \| www.eve-bank.net
Lexander Morinex Caldari LDD Investments	Posted - 2008.10.13 21:34:00 - [17] Quote: This is a very naive comment, since you don't take into account that 100% of the profits EBANK makes gets put back into the bank. If everyone withdrew their ISK, we'd still have 64b in the bank, and still be the biggest bank, with 0 liability! It wasn't 'naive', it was misreading your 'easy to read report'. The total tally that I added up was less than 300b in profits beyond deposits. It is good to know that your internal assets exceed that, because it does improve the situation greatly. Quote: What PP does and how he does it will remain confidential. I don't care to know. I don't consider that important. He could be doing anything as far as I am concerned. The issue is that 30% of the assets are tied up in one enterprise. That puts a lot of risk in your operation, even if PP is completely trustworthy. And to grow, you are only going to have increase that percentage. Originally by: Lexander Morinex And in the worst case we have only lost 1.24%, not 30%, since you clearly are ignoring collateral and accounting for the loss against the profit made from loans alone and not from the total principle lent out. Once again, I was noting that a good percentage of the profit made was reduced by scam losses. That is the number I care about, since it represents the ability of loans to generate profit. Quote: Originally by: Lexander Morinex Overall, you guys are to be celebrated. Pretty impressive, despite my particular concerns. Thanks, I guess. Let me make this perfectly clear. EBANK is doing a lot of things right, for which you are to be congratulated. But, there are concerns here, and it is a big report which you know a lot better than me at this point. I am just going off what I can glean from that monster. Just because I worry that you are taking too many risks doesn't mean you haven't done many good things. - Lexander Morinex
Mr Horizontal Gallente KIA Corp KIA Alliance	Posted - 2008.10.13 21:49:00 - [18] Originally by: Ambo 1) I thought some of the graphs were more confusing than helpful due to slightly unclear labling, but that's not exactly a big deal. Office 2007 -> Office 2003 then PDF. I think it lost a bit in the process, I'll see if I can produce a cleaner PDF. Originally by: Ambo 2) You speak of having 3 'buckets': manfacture, trade and loans/shares. You also say that each of these is allocated roughly 1/3 of the useable capital. However, the later tables clearly show that there is nothing at all invested in trade and has not been for 6 months. Is this beacuse you've just started trading again after a break or do you actually only have 2 'buckets'? At first we only had one bucket: loans! Then in June we started implementing this new 3-bucket plan. It started off with the production operation. We have considered going into minerals, but quite frankly we're scared shitless of that market, especially with Block lurking like a monster there! We do have 300b to leverage correctly, and we've scrambled at it to get 5% ROI by doing spreading the ISK all over the other profit centres to ensure it's earning money, but we're not 100% comfy there yet to be honest. In the meantime, we've cleaned them up a little (hence the sale threads) and Ric's only started trading this month, but better ideas on a postcard please... Originally by: Ambo 3) You guys have worked really hard and have created somthing really impressive here. No matter the faults. Keep it up! Thanks Director \| www.eve-bank.net
EBANK Ricdic Eve-Tech Savings n Loans	Posted - 2008.10.13 22:11:00 - [19] I want to clarify that the 300b operation Proton, AC and myself are running has approximately 250b worth of bpo's locked down with the shares held by other directors. Therefore I would put the proton risk bracket no higher than 50-100b
Mr Horizontal Gallente KIA Corp KIA Alliance	Posted - 2008.10.13 22:14:00 - [20] Originally by: Lexander Morinex Once again, I was noting that a good percentage of the profit made was reduced by scam losses. That is the number I care about, since it represents the ability of loans to generate profit. Believe me, so do I, and I have made a note of it in the report. EBANK grew very, very, very aggressively, and you can criticise us a hell of a lot for not being as careful as we ought to have in being able to shrink and manage a deficit correctly - though we didn't lose sight of it completely. I mean with 80% of the banks ISK lent out - the hardest ISK to claw back - it made my alarm bells ring! But with ultra aggressive growth, you take risks. If we didn't take the risks, we wouldn't be where we are now, so it's Catch-22. Now however, we've pulled back the reins a bit and cruising, so the guys really have been working overtime sorting a lot of things out to what it is now. The loan book is beautiful right now. The share book is a bit pants still, but that's on the list to be sorted, and comparatively it's pretty tiny anyway. EBANK is really a completely different beast to even when Shar left in July, let alone what it was 6 months or a year ago. Ask any of the directors, it's seriously unrecognisable to what it was, and for the better. Director \| www.eve-bank.net
Proton Power Amarr Tleilex Developments	Posted - 2008.10.13 22:24:00 - [21] Per the 300bil part. With the lease program I am currently looking at aprox 450bil right now, BUT I can't touch any of it without 50% of the BOD saying I can. So even though I do the labor, over all EBANK makes the decisions on what I do. If I wanted to walk away today at most I could walk away with is the wallet, some t1 bpo's, a few pos's and a few ships. At most and this is probably exagerated I could walk away with 50bil. Anyway glad to be here and part of EBANK. Earn Isk on your Idle Isk Today!
Lexander Morinex Caldari LDD Investments	Posted - 2008.10.14 02:00:00 - [22] Proton, Your statement has eased a number of my concerns. There is always risk in this game, especially in a game that people get burned out and just 'leave' for one reason or another. But some risk must be borne, and that is that. - Lexander Morinex
Anastasia Heron Amarr Interstellar Planetary KIA Alliance	Posted - 2008.10.14 02:49:00 - [23] I know a lot of people were impatient to see this report, and I want to apologize for my small contribution to its delay; We had this posted on our internal forums for about two weeks before I lept in last-minute with grammatical corrections. So that delayed it a couple of days while we snuck those edits in. I am very proud to be a part of EBANK. Not many of you know me, I haven't run any public operations or whatnot, but for what it's worth, I'm very pleased with the way EBANK has been run. It's no more perfect than any group of ten or so people scattered across several continents and many time zones. I daresay we have the same communication issues that most small corps do, the difference here being we have slightly more visibility than those corps do. I love the questions and the creative criticism regarding our venture. The baseless attacks, not so much. But like or dislike, I'd like to thank every member of the community who has been part of this adventure to this point, be it as a board member/employee, depositor, or bright-eyed critic. I look forward to continuing to be a part of this venture for a long time. Thanks for liking, trusting, or enduring us as appropriate. Here's to a great second year! ----- Originally by: CCP Mitnal please don't make allegations about other people's sexuality, post in avoidance of the forum filter and especially not post derogatory comments about someone else's mother
Kushion Anti Sweden Defense Force Virtue of Selfishness	Posted - 2008.10.14 03:13:00 - [24] Awww, Hexxx. You will be missed. Nice report...
Kazzac Elentria	Posted - 2008.10.14 04:13:00 - [25] With your Promotion Mr H, will development time for features be crunched I am assuming?
TomHorn	Posted - 2008.10.14 05:17:00 - [26] Congratulations to everyone involved in Ebank over the last year and happy birthday Hope the next year is just as amazing for you guys
Brock Nelson Caldari Deep Core Mining Inc.	Posted - 2008.10.14 06:30:00 - [27] I'm rather interested in your upcoming venture into R&D service, could you care to expand more on that? Drones \| Rigs \| Ships BPO and BPC
Mr Horizontal Gallente KIA Corp KIA Alliance	Posted - 2008.10.14 07:22:00 - [28] Originally by: Kazzac Elentria With your Promotion Mr H, will development time for features be crunched I am assuming? No! They have been delayed a bit, but I'm still on it. In fact in doing this report, it's highlighted some extra requirements from EBANK, because there are parts of EBANK that really need ledgers maintained automatically that have to be done manually. The more stuff that gets tracked automatically, the better EBANK is, so I've got quite a big plate even after the Exchange and Merchant Services now... Chairman \| www.eve-bank.net
Imperius Blackheart Caldari KIA Corp KIA Alliance	Posted - 2008.10.14 07:41:00 - [29] Grats Mr H, I'm sure your the right guy for the job and you'll do great. I hope things calm back down for Hexxx in RL. I'm so impressed with the growth you guys have had, unmistakeably a major market force in your own right. Imp. KIA Corp Recruitment Director, mail me for more info.
Mr Horizontal Gallente KIA Corp KIA Alliance	Posted - 2008.10.14 08:57:00 - [30] Originally by: Imperius Blackheart Grats Mr H, I'm sure your the right guy for the job and you'll do great. I hope things calm back down for Hexxx in RL. I'm so impressed with the growth you guys have had, unmistakeably a major market force in your own right. Thanks man! Although both Hexxx and Pang have moved on for good reasons RL. I'll let them disclose what as it's not my business to do so, but RL hasn't hit them bad. Chairman \| www.eve-bank.net

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