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Atima Minmatar House of Marbles	Posted - 2009.01.12 19:18:00 - [1] IPO Plan ò Chapter 1 - Summary of Atima Industries ò Chapter 2 - Background on origins/idea/current business ò Chapter 3 - Corporate Governance ò Chapter 4 - The Business Plan (expanding) ò Chapter 5 - Full Disclosure of Risks Chapter 1 - Summary of Atima Industries Atima Industries is a business which deals in the sales of capital ship blueprints and the production of capital ship blueprint copies. We currently buy carrier and freighter blueprints for the purpose of reselling and also offer a service to sell on a blueprint owners behalf. Currently 20bn of public ISK is held by Atima industries and we are requesting a further 40bn ISK for expansion which will be 80% secured by Kazuo. Chapter 2 - Background on origins/idea/current business I am currently running this as a solo operation and it has proven to be highly successful. Kazuo Ishiguro is providing 80% security over this offering and will continue to do so by locking down the BPOs which I will be using. In the past I have ran two successful private IPOÆs one of which was focused around moon mining and reacting, the other which was involved in market manipulation, region wide refining and the dispersion of T2 products. Atima Industries has been running for one month now with public ISK, dividends have been paid early and it is running as according to my predictions. Chapter 3 - Corporate Governance The majority of business decisions will be made by myself after discussion with shareholders if it is required, however decisions for future expansion will be left to a shareholders vote. Chapter 4 - The Business Plan The business will be focused around reinvestment for future development with minimum returns being paid for the first 3 months ( March ) after which I will put a vote to shareholders as to if they would like to continue maximum reinvestment or alternatively take higher payouts. Assets will roughly follow this distribution: 80% BPO's which will be on continuous research, construction and copying 20% Liquid ISK which will be used to continue my reselling opportunities and provide a mineral float from which the capital ships will be built. The BPO's will allow me to provide consistent minimum returns and provide security for the investors ISK while the other 20% will allow me to pursue much larger returns. There will be a minimum return of 4% and a maximum return of 10% monthly. After 3 months a buyback will be in operation of 100% the initial price. If at any time the decision is decided to close then all shares will be bought back at 105% Expansion plan: A further 32bn worth of BPOs will be purchased for the purpose of capital ship construction, my maths show I can pull a 15-25% return on this investment, 15% being a conservative figure. Also 8bn will be raised and this will be needed for minerals to keep the operation working at 100% efficiency. Xabier will be joining me with two of his alts to provide more construction slots than I currently have, this will be for approximately 2-3 months while I am skill training my alts for this purpose. He has a lot of experience in this field and IÆm sure I will be able to make great use of this, he has been extremely helpful so far.
Atima Minmatar House of Marbles	Posted - 2009.01.12 19:19:00 - [2] Chapter 5 - Full Disclosure of Risks What will happen if the IPO is not as successful as predicted? As with all IPOÆs there is a risk of failure, however I have done my best to minimize these risks. With 80% invested into capital BPOÆs a significant return can be guaranteed by creating copies and construction. Also if the very unlikely possibility of the failure arises I will liquidate all the assets and will be able to refund 100% of the investment. So what if this is a scam? I am using a reputable third party who will lock down the BPOÆs within his own corp hanger from where I will be able to build from, copy and research them. This covers 80% of the investment. For the other 20% of the investment I will have access to it, but in all honesty it would not be worth my time. Xabier will also have access to this but I highly doubt his reputation will be in question. An audit has been preformed and Kazuo will confirm that I have stuck to the business plan so far and that I am capable of extending it. Kazuo still has all of my API keys and will continue to do so for as long as I hold public ISK. Xabier has also permitted Kazuo to audit his characters if it is required. It is also worth considering that if I only make my conservative estimate on returns and pay out 10% dividends I am still looking at a 5% return on the 60bn which is 3bn per month, I will have access to a maximum 12bn at any time which is only 4 months of my profit. I have already invested one month of my time into this project and I would not be willing to throw this all away. What if im hit by a bus? Im always careful while crossing a road, ensuring to look left and right several times and much prefer to use designated crossing areas, however if anything unfortunate does happen to me the full investment will be accessible by Kazuo who is holding the BPOÆs. If anyone has any other issues I will be more than happy to update this list. 4000 shares will be available at the price of 10 million each. The maximum investment will be 5bn for 48 hours after the launch to allow everyone a chance to invest this time, after which I will remove the investment cap for whatever is remaining. Please do not send your ISK to me, Kazuo will be receiving it for security reasons. Reservations
Atima Minmatar House of Marbles	Posted - 2009.01.12 19:49:00 - [3] Once all shares have been reserved it will be put to a shareholder vote to create the shares, however i have talked to most major investors about this and it seems the vote will go ahead. This will be increasing the ROI as capital production offers significantly higher returns than my current activities. The 4% returns will continue for 3 months from the initial launch, two months remaining after which returns of up to 10% will be issued.
Atima Minmatar House of Marbles	Posted - 2009.01.12 19:56:00 - [4] Originally by: cosmoray A few comments: 1. I do get a bit squemish when a successful IPO becomes a huge expansion without even making 1 full month of divs. On the plus side you do have good people involved. Will the expansion have any dilution effects on dividends. i.e. if I chose not to invest? There will be no dilution effect on dividends, if anything you will now see higher dividends as capital production is providing larger returns 2. Now you do have a nice business plan, but I have one problem with your operations; You have run this as a business (IPO) which means the rewards to the shareholder are variable. So far you have sent out a mini-statement saying profits are good and forwarded a dividend. Now you have chosen NOT to make this business transparent. Are you planning on providing a monthly report like most IPO's which detail sales/profit/dividends etc. I will continue to provide mini-statements which will be confirmed by Kaz/Xabier. If you have any issues about transparency contact me in game and i am willing to talk it through with you. To my eye it looks like you made more than 4% profit in your 2 weeks already but you paid out the minimum dividends? I would like a comment about the report and how you came up with the dividends? If you only intend to pay 4% per month then this is a bond, and should have been advertised as such. Seeing as Ray is at 4.5% you shouldn't have been able to secure financing at 4%, even with auditors. I am concerned to invest until at least I see the quality of reporting and the final payment of dividends and how they were calculated at the end of the FIRST month. In the initial offering i stated that the minimum dividend would be paid for 3 months while the profits would be used for reinvestment. After this three month period all profits up to a 10% return on the initial investment will be paid. Anything after this 10% will be used as i see fit.
Atima Minmatar House of Marbles	Posted - 2009.01.12 20:06:00 - [5] The business will be focused around reinvestment for future development with minimum returns being paid for the first 3 months after which I will put a vote to shareholders as to if they would like to continue maximum reinvestment or alternatively take higher payouts. This is taken from chapter 4 of the original business plan, im sorry that you were not aware of this, i hope this clears things up for you. As for management fee, there is none currently except my time code expenses which come under the costs.
Atima Minmatar House of Marbles	Posted - 2009.01.12 20:13:00 - [6] Originally by: Waseem When are you collecting ISK? When is the official start? Are the 48 hours ticking as of your post timer? Pending these answers, I reserve five billion. ISK will be collected after a full reservation has been made, Yes the timer is ticking as of the post time.
Atima Minmatar House of Marbles	Posted - 2009.01.12 20:16:00 - [7] It was not intended to be misleading cosmo, if you are truely unhappy i am willing to buy out all your shares at 105% of their purchase price. As for it not being an IPO, ricdic pointed out in the first thread that it was somewhat of a mixture between a bond an IPO.
Atima Minmatar House of Marbles	Posted - 2009.01.13 07:14:00 - [8] I will raise the share buy back to 115% to cover the first 3 months low dividends, i placed the 4% in place to allow myself time to purchase all the BPOs required. It is not possible to buy that ammount of capital BPOs and put them into production within one month which would result in a fall in NAV due to dividend payout over the first two months. Also take into consideration that this IPO is being secured, it is a safer investment and hence lower returns. Your ISK will be transfered tonight Cosmo. As for you doubting my ability, Kazuo can confirm i am able to do this via my API keys and i beleive he already has several times.
Atima Minmatar House of Marbles	Posted - 2009.01.13 07:48:00 - [9] Originally by: cosmoray Edited by: cosmoray on 13/01/2009 03:58:48 I don't agree. IPO's that payout low initially to reinvest for growth is good if divs are long term, but this IPO has a term limit so I consider it a bond. In this case the OP gets to reinvest at first with a promise of MAYBE paying more later. Also i have never stated that there is a limit on the length of this offering cosmo, my intentions are to run this for over one year.
Atima Minmatar House of Marbles	Posted - 2009.01.13 07:53:00 - [10] Originally by: Ricdics It is secured against scam, not failure Ive talked the profits over with xabier and with a CONSERVATIVE estimate i can easily turn 15% returns on this 40bn, the previous 16bn is only doing around 6% and the 4bn about 20%. The market has been providing these profit margins for 3months+.

Atima Minmatar House of Marbles	Posted - 2009.01.13 15:21:00 - [11] Ok, i will clarify a few issues, sorry if they have not been clear. - Buyback is NOT manditory, it is optional for those investors who need their ISK back. - The three month period will last untill the end of march for all shares. The reason for the three month period is to allow start up time. All the BPOs purchased will not be at the correct levels for research nor will i be able to buy all these BPOs at a reasonable price within the same few days. -This is not a BOND. It is an IPO which is paying 4-10% dividends depending upon profits. There is a set up period untill the end of march and untill this time 4% dividends will be paid. -I have raised the buy back that will be available for your shares to 115% to cover the first few reduced dividends. This buy back will not be an option untill the end of march.
Atima Minmatar House of Marbles	Posted - 2009.01.13 18:25:00 - [12] Updated Reservations. aproximately 48 hours left to vote on the expansion. Total shares: 4000 Shares Remaining: 772 Murixo 500 shares ( ingame ) Damien Jax 30 shares Kazen 10 shares Prisoner 42 1 share Roarke grasby 50 shares Scion Lex 10 shares Null Lifter 30 shares Kw1jybo 5 shares MyHonIa 100 shares Vync 200 shares Eisstar 20 shares Hillesumos 20 shares Cinta Verick 30 shares Tasko Pal 50 shares Ambo 500 shares Kazuo Ishiguro 100 shares Dawts 2 shares John Hedon 10 shares Elektra Cute 10 shares Alaki Kant 20 shares Jonny Suede 50 shares Javelin6 100 shares aussie vengeance 10 shares alduarne 10 shares Breaker77 10 shares Vor'an 5 shares The Schwa 35 shares J Carreg 10 shares HammerBlow 30 shares Brock Nelson 10 Shares Skade Bax 2 Shares Togen Lei 1 Share Miyuki Suzumiya 10 Shares Quinn Moran 25 Shares Merhandus Grandus 200 shares Estan Drake 25 shares TheScienceMonkey 10 shares Mike'P 50 Shares Pizza Laser 150 shares SonO***host 485 shares (ingame) HawkBunny 2 Shares
Atima Minmatar House of Marbles	Posted - 2009.01.13 19:12:00 - [13] Send it to kaz whenever you wish, it is not required to be sent untill the vote has been completed which is in 48 hours. Please send it within 5 days after the 48hours has been completed.
Atima Minmatar House of Marbles	Posted - 2009.01.13 20:50:00 - [14] Originally by: Amarr Citizen 155 If after 3 months you changed your business plan and started getting 50% returns, would you still only pay out 4-10%? If that situation ever occurs i would propose changes to the current payout system which would be left to a shareholder vote.
Atima Minmatar House of Marbles	Posted - 2009.01.13 21:01:00 - [15] Originally by: Sen Gyounen Good question. I had a lot of questions upon first reading the topic. Most of them have been answered throughout the thread. However, one thing that isn't clear, is the original investment going to be treated the same as the new issue, in terms of dividends? Yes, the new shares are going to be treated the same as the original investment. There has only been one change and that is that the buyback has been increased to 115% and this applies to all shares.
Atima Minmatar House of Marbles	Posted - 2009.01.14 02:00:00 - [16] Yes, i will have access to 8bn isk from this expansion. Never more than this at any given point. Remember if i was to scam this Kazuo will disclose all of my characters that have been playing for up to 4 years each, the reputation of these characters is worth much more than 8bn to me. Also have it known that my personal assets are in excess of 8bn and i have also invested one month into this project so far which i would not be willing to throw away.
Atima Minmatar House of Marbles	Posted - 2009.01.14 11:41:00 - [17] Originally by: Shar Tegral Originally by: Trading Bunnz Just out of interest, what does this expansion give you access to, unsecured? About 9.5b or so? For a newcomer? Originally by: Atima Yes, i will have access to 8bn isk from this expansion. Never more than this at any given point. Now that was disingenuous. "From this expansion" and "at any given point". The actuality is that you will have access to 12 billion isk. Now, how much of the original 4 billion is still available is unknown to us but side stepping a direct question like that is ... umm... disingenuous at best. Very good observation shar, however out of the profits so far a further 4bn of BPOs was purchased and put into research, pulling the investment up to 100% security :)
Atima Minmatar House of Marbles	Posted - 2009.01.14 11:55:00 - [18] Yes, i will be holding 12billion ISK, more than this as profits are made, however 20bn is secured as BPOs in research so the unsecured ammount after this offering will be 8bn. This is double what i had access to after the last offering. I will also be able to ask kaz to unlock up to 4 bn worth of BPOs, so it is possible that i could hold 12bn unsecured, you are right in that respect, so ive tripped myself up somewhat. However i have no intention of doing that. When i said you were good at noticing holes, i never thaught THAT good :)
Atima Minmatar House of Marbles	Posted - 2009.01.15 22:08:00 - [19] Expansion plan was successful. 97.25% Yes 2.75% No An early dividend will be paid to existing share holders of 2% before the new shares are made, this is to syncronise the dividend payouts. Next payout will be 14/02. Once again i would like to thank you all for making this happen.
Atima Minmatar House of Marbles	Posted - 2009.01.17 18:49:00 - [20] All shares paid for have now been distributed. The remaining reservations will stand for another 48 hours, after which they will be sold elsewhere.

Atima Minmatar House of Marbles	Posted - 2009.01.20 20:25:00 - [21] No, the BPOs are still secure, although it was a close call. Xabier nearly had access to some of the funds, however nothing belonging to atima industries has been taken.
Atima Minmatar House of Marbles	Posted - 2009.01.20 22:53:00 - [22] Xabier did not get the access he requested. If your unhappy i will buy back your shares at purchase price, alternatively you can ride it out. This offer only stands untill this issue is cleared over.
Atima Minmatar House of Marbles	Posted - 2009.01.21 08:32:00 - [23] Sorry i forgot to update the last 20 shares, my bad, must be working to hard :). I'll issue them tonight when i get in.
Atima Minmatar House of Marbles	Posted - 2009.01.23 18:34:00 - [24] Astarte, i offered a buy back at purchase price due to recent events involving Xabier for investors that were looking to sell there shares, leave a reply or contact me in game if you wish to sell them.
Atima Minmatar House of Marbles	Posted - 2009.01.23 18:55:00 - [25] As for an update on events, so far all capital BPOs required for the expansion have been bought up apart from two carrier BPOs. Currently i am adding the finishing touches to the component BPOs and construction will begin in around 5 days. It will take 11 days to build the components, after which it will take a further 11 days for the carriers to be completed. Due to the time required for the BPOs to be bought and construction to be running at 100% efficiency it will be a near profitless month, however retained profits will cover the dividend. As for phase one investment, some bad news. The Freighter BPC market has crashed to the point where it is only offering 2.5% returns as opposed to the 6% returns for the previous months. I have retained the copies in the hopes that the value will increase and have put the BPOs in the labs for a further 1 months copying. If the market does not improve over this time i will consider liquidating some of the BPOs and moving over to dreadnought production. Do not worry about the venture becoming unprofitable as the returns on the Carrier market are substantial enough to cover a 10% return for all shares. It has also been significantly more stable than the BPC market in the past.
Atima Minmatar House of Marbles	Posted - 2009.01.23 20:36:00 - [26] No. I am offering to buy back at 100% due to recent events. 115% will be available in around two months time, however only in amounts that i can continue to keep this venture going.
Atima Minmatar House of Marbles	Posted - 2009.01.24 23:06:00 - [27] Edited by: Atima on 24/01/2009 23:10:12 Originally by: cosmoray This is the reason I don't like expansions. You have 60B in assets. Within ONE MONTH you have come back to investors to report that one of your main business sectors has crashed. You will basically make no cash there. So now you are changing business plans, and your going to try dreadnaught production. Are you experienced in that field? Have you researched the market? Do you know your returns? Are they better than you other failed sector? This is why I don't like fast expansions. I like to see if the manager is compatent to run the business before they get additional funding. Now you may be an totally honest person and never scam, but your report isn't very encouraging. Moving forward with new IPO's I will also want to see the auditor and the person securing the assets be different people in light of evn7298 & Xabier. The main business sector has not crashed. I have been UNABLE to resell as the BPOs i would resell are being held for construction. I do not dictate the BPC market returns, yes i researched it over several months and it was offering 4-7% returns. As for expansion it offered diversification, which helps counteract effects like this. The business plan has not been changed, if you took the time to read it fully I said I had put them back into copying and would CONSIDER changing it in one month depending upon how the market acts. This is the second time you have failed to fully read what i have posted and claim that i am taking investors for a 'ride'. My competence does not define how the market acts, it does however define how i react to it. How does my report make you fear that i am a scammer? Surely a scammer would sugar coat it to make investors happy. As for multiple auditors i have no issue with this, it will have to be taken up between investors and Kazuo. Now please cosmo, stop the personal vendetta, there really is no need to imply i am incompetent/scamming simply because the market drops.
Atima Minmatar House of Marbles	Posted - 2009.01.24 23:34:00 - [28] Originally by: cosmoray Edited by: cosmoray on 24/01/2009 23:20:54 Sorry if you thought I implied you were a scammer. This is not the case, I may have worded it wrong. My entire problem with the IPO is that a person with relatively little reputation expanded to a HUGE IPO within 1 month of launch. You had no time to show that you could run the business successfully, show that burnout wasn't an issue, deliver promised returns on time, show good reports. So far you have given mini-trading updates, and basically a profits warning. Nothing else. Why should I have confidence in you now. You are running the LARGEST newer generation IPO THAT HASN'T SCAMMED at some of the lowest guaranteed rates. To be put into that position you should have proven yourself first. BIG RESPONSIBILITY Yes it is a big responsibility, one that I intend to live up to. To me this is more than I could have ever wanted, I want to prove my self against all odds. As for my reputation, in the MD forum it may be small, but this is as all reputations start out. In the past I have ran a successful Lowsec POS project and also a market manipulation project, both funded by private investors. I'm aware that this does not count for much here however I am confident in my own abilities. Also as for the profits warning, I am not here to sugar coat it for investors, I am trying to be as clear as I can. And as for the low minimum returns, from a risk/return point of view, the risk is significantly lower due to the significant amount of security. The predicted returns however are higher than many other projects out there.
Atima Minmatar House of Marbles	Posted - 2009.02.05 17:52:00 - [29] Ok, I'll provide another update sorry if they are irregular and infrequent. Yes, that is correct the carriers are now in the oven as are the second set of components. However I currently have some cash flow issues and I am unable to buy the minerals for the next run of carriers. I've been discussing this with Ricdic and there is a plan in place for me to take a loan at 6% monthly to cover the build costs. I also had a delay due to not having enough build slots to start at full production as Xabier was going to provide the additional ones i required ( Just to reiterate; Atima Industries was unaffected by his scam ) This has set back production by around 2 weeks at which point I will have enough slots to continue at 100% efficiency. The Capital BPOs that are currently in copying are not preforming to well. They are barely reaching the minimum dividend and so will drag down the overall dividend. I am currently looking at ways to improve this however they are in copying for another month and so it will be some time before I can make any changes. Two further 4% dividends are planned, one at the end of February and the other at the end of March, after which i will be aiming for 10% dividends, however i cannot guarantee that i will hit 10% for the first month, which i suspect will be around the 6-8% mark.
Atima Minmatar House of Marbles	Posted - 2009.02.05 21:54:00 - [30] Hope is what I'm relying on at the moment, had a rarther unfortunate series of events. I also lost a rapier while protecting my freighters, lucky it was only a rapier and not 3 full freighters, from now on I will be using a compression service to reduce this risk. The cash flow issues are mostly down to me expanding to fast but I'm confident i will pull through with the loan i will be taking out, if that does not suffice i will inject some personal isk into the project. Once it is running at 100% efficiency i can see it being an ideal isk print assuming i am able to sell all my products. There is only one thing that hasn't gone wrong yet and thankfully it is the most important, the carrier market.

Atima Minmatar House of Marbles	Posted - 2009.02.06 12:37:00 - [31] Edited by: Atima on 06/02/2009 12:42:02 Originally by: Feronia Originally by: Atima ... my maths show I can pull a 15-25% return on this investment, 15% being a conservative figure. I guess those numbers came from Xabier too. I'm glad you're revising your profit margin downward to a more realistic number. Those numbers did not come from Xabier, and those profits still stand at around that value. The reason why i cannot attain those margins is because I don't have the cash flow to keep in constant production. However I am using my personal wallet at the moment as a buffer. The reduction I predicted in payout is not a reduction in profit, I am using the extra profit to pay back the loan. I'll admit it Cosmoray, I did expand to fast however I do not regret this. I consider this a challenge and as I said previously, one I will live up to. There is no need to worry Ambo, and there is not much anyone can do to help out. I'm already on the case and in 1 day time i will have over 60 production slots at my disposal and full production will follow. The 'Hope' statement I made was an incredible overstatement, it was said in jest to draw attention to the run of bad luck I've had. I still believe that this will become one of the best investments out there in the following months. As for retaining the next 1-2 dividends, there really is no need for this at the moment, assuming everything goes to plan from here on.
Atima Minmatar House of Marbles	Posted - 2009.02.06 15:17:00 - [32] Originally by: Feronia Originally by: Kazzac Elentria ...and Atima is following pretty closely to the same business model I handle personally myself. I hope not, if you spend most of the investor's money on extra capital BPO's and have not figured out you also need extra money to buy the build materials needed, your maths are wrong and your business plan has plenty of holes. The fact you need to invest personal money, and even take an extra loan to keep the business running should make people worry to say the least. The initial plan was for me to build from an excess stock of components Xabier had, and give him the components back once the capitals had sold. The retained profits over the first two months would have been sufficient to fund my own component stock. Now with Xabier out of the picture I do not have access to a component stock and so I needed to inject 8bn to purchase a component stock. So this raises the question as to why I didn't just purchase the component stock out of the IPO funds. Well quite simply it would have resulted in a lower security for investors and I feared I would not receive the investment I required. I hope this answers the questions as to my incompetence. My maths was not wrong, there were no holes in the business plan and I knew I needed the extra isk to build. The only mistake I made was to rely upon Xabier.
Atima Minmatar House of Marbles	Posted - 2009.02.06 15:51:00 - [33] Originally by: cosmoray Serious piece of advice. Why don't you liquidate some of the locked down assets. Set up the business to a more reasonable size. Secondly send a vote out to invrease the free capital side of the business so you can put into perma production what assets you would have left. Any production business is only really good if you are producing 24/7, or you are not leveraging your BPO's. I would honestly make some changes before your workload gets to great. I would love to do this, liquidating the BPOs that are in copying would be a great boost to the business as the profits from them are negligable in comparison to construction. However this lowers the security of the IPO, and at the end of the day it is my responsibility to stick to the business plan. I cannot lower the secured investment without it being 100% agreed upon by investors, which I see as unlikely as it was the unique selling point of my offering.
Atima Minmatar House of Marbles	Posted - 2009.02.06 15:55:00 - [34] I would also like to point out that I am not in any serious trouble here, it will not affect dividends. The purpose of me providing an update on this was to just let investors know how things are going. I'm sure I will pull through this, after all it just boils down to a delay in production which I compensated for by setting the first 3 months at minimum dividends.
Atima Minmatar House of Marbles	Posted - 2009.02.06 16:24:00 - [35] I cannot do that without effecting security sadly :(
Atima Minmatar House of Marbles	Posted - 2009.02.06 17:30:00 - [36] Nothing was agreed upon for the loan, the option is there for me to take it. I will let Shareholders know if I take it.
Atima Minmatar House of Marbles	Posted - 2009.02.07 11:07:00 - [37] Originally by: nether void Edited by: nether void on 06/02/2009 20:53:54 Edited by: nether void on 06/02/2009 20:53:29 Technically, if you take a loan from Ebank, they are entitled to money first in case of failure and your shareholders second, so an Ebank loan should be a shareholder vote, IMO because it's shareholders who are actually taking on debt. I own no shares though, so totally outside and unsolicited opinion. In case of failure, NAV is significantly higher than initial investment. Also the loan is secured against my name, and not the name of share holders, so technically it is me who is taking on the debt. However I will still put it to a vote, although if I do take the loan, it will most certainly be the best course of action. I wont take on additional debt if I have any doubts as to if I can pay it back. I realise that it is actually a loan that is being taken, however it is not a long term loan that is needed, consider it 'trade credit'.
Atima Minmatar House of Marbles	Posted - 2009.02.08 01:56:00 - [38] Originally by: cosmoray Make a vote and restructure the business. If you make an EBANK loan they will want it secured against assets. In a business failure shareholders get paid last, and I am sure they will want the loan secured against the company BPO's. Put a vote up to have Kaz unsecure half the BPO's and HE sells them. Also as part of the vote restructure increase the working capital to produce off the BPO's remaining. Then repay a lot of the capital back to the shareholders in special dividends. There would be nothing worse then trying to carry on with a plan that doesn't have enough cash to run its operations or the CEO is resistant to change. Make the change, because if this fails no one will go near you again. You are taking things out of proportion cosmoray, this will not fail. There are no serious issues, I was just letting shareholders know the recent issues. I am fully able to continue the business at the current rate, I'm just looking to maximise efficiency. Also I am most certainly not resistant to change, I'm currently looking at options to increase profitability, the best method would be to sell the freighter BPOs and move this over to a component stock. I also have a further 5 carrier BPOs in research which come out this month. With the isk from the freighter BPOs I will be able to run all the carriers in constant production and turn a profit in the region of 8bn monthly. At the current rate, with the slowed production and copying section, I am still turning around 8% returns monthly, I am just trying to bring this above 10%, which will allow for further reinvestment. The EBANK loan would be secured against a portion of my capital stock, which would be released as I continue to sell capitals, so effectively nothing is lost from taking the loan, except the 6% monthly payment, and the loan would only stand for several days at a time resulting in a neglegable cost for it. The loan would only be for 7bn isk. Ricdic agreed to 5bn collateral to the loan.
Atima Minmatar House of Marbles	Posted - 2009.02.09 20:17:00 - [39] Originally by: Ricdic Securing debt in order to get out of debt is a terrible strategy and I hope not one you attempt to take. This all depends upon the situation. Admittedly, this is the route I would least like to go down however the final decision will be down to share holders, a vote will come up in the next few days outlining the options available to me. I would also like to reiterate that things are being taken way out of proportion. Kazzac hit the nail on the head, dammed if you do, dammed if you dont.
Atima Minmatar House of Marbles	Posted - 2009.02.14 16:16:00 - [40] Ok,the vote is up. I'll give a run down on what will happen for each choice. Reduce security to 70% The BPO's that are currently in copying will be unlocked and sold. The isk raised from this will be used for a component stock, allowing me to run production at 100% efficiency. Take a 7bn loan. A 7bn loan will be taken from EBANK at 6% monthly. It will be secured on around 5bn worth of carriers. As I sell some of the carriers I will buy back the collateral. This will allow me to run production more efficiently however it will be slowed down as I have to wait for Ricdic to log in so I can buy back the carriers. Take a 7bn loan and skip a dividend. The loan will be identical to the one above, however the dividends will be missed until I have paid off the loan in full. This should be around 1 dividend, however it may require me to half the following months dividend. I personally will be voting in favour of reducing security and would urge investors to also take this option. However I understand this increases the risk of your investment. I would personally prefer not to take on additional debt. Skipping the dividends would also be a good option, however it means investors potentially may not see dividends until the end of march. I would also like to add that the under preforming assets should be sold of regardless of any option chosen. However security will be maintained at 80% as I will reinvest the ISK raised into assets that can be locked down. I will put this up to vote after this vote has been completed.

Atima Minmatar House of Marbles	Posted - 2009.02.14 16:49:00 - [41] Currently the minimum security I can have is 80%. At the moment it is slightly higher than this, Kaz has the correct figures but I would estimate at around 85%.
Atima Minmatar House of Marbles	Posted - 2009.02.26 13:08:00 - [42] The dividends are due and always have been on the last day of the month. Last months dividends were paid early so i could get going with the expansion. I fail to see how I have provided a bad experience for my investors Cosmoray. I have always been upfront about any issues i have had and dealt with them accordingly.
Atima Minmatar House of Marbles	Posted - 2009.02.26 13:18:00 - [43] The thing is I am working hard, paying dividends on time and providing a commentary on the procedure of the business. Yet people are complaining I am not working hard enough. Please feel free to expand upon which areas I have made this a bad investment? I will do my best to fulfill the investors request. However please take into consideration that I do not take a managment fee from this investment yet still dedicate most of my eve time to it. I do this because I enjoy doing it and I don't believe I am doing a bad job at all.
Atima Minmatar House of Marbles	Posted - 2009.02.26 13:25:00 - [44] Kazzac I understand why investors are edgy, and I agree I would personally be worried investing in a person such as my self. It is true I have access to a large amount of unsecured isk. However if I was scamming Kazuo could detect it weeks ahead as I would have to stop production, this would take two weeks. I'm fairly sure Kazuo would notice if I had stopped production for two weeks and the wallet had been emptied. I would appreciate it if he would confirm that I infact have all the unsecured funds currently locked into continuous production. I have no intention of scamming and would value my reputation much higher than 15bn. Infact I have 6bn of my own isk currently within the corperation that I receive no dividends for, Kazuo can also confirm this.
Atima Minmatar House of Marbles	Posted - 2009.02.26 14:37:00 - [45] I'm happy to disclose to everyone right now what I am doing, I'll go over it here in the forum. I currently own 6 Freighter BPOs Orca BPO 16 carrier BPOs 17 component BPOs 1 medium POS, currently just anchored. no mods. These are the fixed assets. Also in my possession: 2 carriers 12 carriers in production components in production to build 12 carriers 3 carrier BPC's 10 freighter BPC's small amount of spare minerals and components aprox. 800mill worth 2.2bn in corp wallet Corp has a debt to me of 6bn isk. The freighter BPOs and orca BPOs were in the labs creating copies, returning around 4-5% each month after the fees for the labs. Currently in station waiting to be unlocked. 4 of the carrier BPOs were in research. They've just came out of the labs and will be moved to production location once I organise for them to be unlocked and I provide collateral to cover them. 12 carrier BPOs and 17 component BPOs are in production. I am going to sell the 6 freighter BPOs and buy the additional component BPOs required to build from all 16 carrier BPOs. Also i will use the isk from the freighter BPOs to pay off the corps debt to myself which I am using for the component stock. How I run the business: I buy the minerals via buy order on Jita market throughout the week. I contract the empire hauling of minerals to a third party who moves them one jump from my lowsec system for a minimal fee. I then haul these minerals in using my personal freighters and a huginn. Potential improvements here : Mineral compression. less hauling less risk. Why don't I do this? I picked a station owned by a corperation who doesn't have any agents so I would have to pay a 5% reprocessing tax. I will relocate in the future to another station in the system and begin construction there. Why not now? Because all the BPOs will need to be unlocked, this will cause a huge delay in production and lower the profit. Right now I am more concerned with providing better returns for investors. Capital ships and components are made in this station. I then proceed to sell them on public contracts. What I would like to do is purchase the BPOs for capital modules and fighters. Build these modules and sell them on market along with other relevent fittings and rigs and so provide a hub for capital ships. This isn't a viable option due to limitations of isk available to me. I will do this at some point in the future with retained profits. The BPC side of the business was simple. copy BPO in a lab for a fee from kazuo, sell on public contracts. Fairly low returns, not enough to keep investors happy so I am liquidating this side. At this point your all probably wondering so what are my profits? well to be honest the market fluxuates alot and I cannot offer a precise figure. I'll Answer to the best of my ability however. Profit per 28 days: Construction of 12 carriers: 4,751,627,200.44 Using yesturdays prices for mineral sell orders in jita and contract sell orders for carriers. BPC copying: Around 600mill after costs. This fluxuates extremely. Hence my stock of capital BPC's. I simply hold onto them until it is the right time to sell. Research on the carrier BPOs: I estimate they are gaining around 5% value per month in research, so around 250mill per month. This is pretty much my profits for the past month and a half, carrier profits were much larger last month, around 5.3bn due to the fall in mineral prices. The small rise we saw recently may not have seemed much but it significantly impacts profits for capital production. As you can see my current profit is approximately around 5.5bn per month. This is just short of 10% per month. Once I liquidate the copying side of atima industries the profits will increase. I encourage you all to pick apart my current practices, I have tried to be as clear as possible and I would invite a respected third party to do an external NAV report if they wish to do so. I will disclose the exact research and BPOs to them.
Atima Minmatar House of Marbles	Posted - 2009.02.26 18:58:00 - [46] Originally by: cosmoray expansion My main point Atima is that you have a huge amount of capital tierd up in your business, but no one really knows how you run a business before you expanded to 60B. So now your in a business which is a lot of work (burn out is a serious risk for investors) and things are starting to slip. I think your reporting has been poor, no detailed report at end of month (cash flow,sales, profits, whatever) so no one really knows how the business is doing. By not giving sales data the shareholders are not seeing what is going on with their money, they don't know if you are just paying cash from unsecured pile. If you are not making any sales but just paying the minimum you can say that too. Communication. Communication. Communication. The more you tell the shareholders the more they put their trust in you. When their is no communication they start to theorize and bash you. You run a major vote to restructure a 60B business and after the vote has finished you still don't come back and talk to investors. No communication for 12 days. I would have given an update, if you were having difficulty in unlocking BPO's say so here. That extra bit of communication buys a lot of grace with shareholders when they know what is going on. Management fee. Personally I would have taken one. Your doing lots of hardwork (probably too much) and you only get divs. I wouldn't run a 60B IPO, haven't got the time or patience. I still believe you should reduce the size of the IPO to a manageable form for yourself. The best IPO managers run the IPO, make div payments on schedule and provide excellent reports. Look at AATP, Bad Bobby, AC, Cosmoray (maybe everyone's opinion?) and even EvaLf (he gives blog updates every few days) for good reporting. I honestly don't want you to end up in the position of other IPO's where the CEO doesn't talk to the shareholders and they are held hostage to the CEO because they can't sell their shares or get out. So now your in a business which is a lot of work (burn out is a serious risk for investors) and things are starting to slip. Less work than trading, things are NOT starting to slip at all. I think your reporting has been poor, no detailed report at end of month (cash flow,sales, profits, whatever) so no one really knows how the business is doing. I agree that I have not posted any statistics, mostly because I buy and sell via a mixture of my corperation wallet and personal wallet. I'm not 100% sure how to do the maths apart from working it out on paper, I have thousands of transactions each month. I could use EMMA, which I purchased a key for myself. However I also have transactions in Atima's wallet which I use to trade for my own personal gain, these would cause EMMA to calculate incorrect profits. Also I am not a director in Kazuo's corp and so cannot access API data of the wallet. I try to communicate to the best of my ability, I went through the options available to share holders to the best of my ability. I was unaware Kazuo was having difficulties unlocking the BPOs as we play eve generally at different times to each other. I left him an evemail but recieved no reply. I suspected he was just taking a small break. I most certainly don't hold my investors hostage, I can provide buy backs right now. I recieve 3-4 evemails each week from people requesting shares from me and report to the best of my ability.
Atima Minmatar House of Marbles	Posted - 2009.02.28 12:14:00 - [47] I will buy the 30 shares back, contact me in game when you want to pass them over.
Atima Minmatar House of Marbles	Posted - 2009.02.28 12:16:00 - [48] Sorry, I only refreshed the 11th page and didn't see the other buy orders. If the other buyers drop out, contact me.
Atima Minmatar House of Marbles	Posted - 2009.02.28 15:49:00 - [49] A 2bn dividend has been paid. A further 400mill will be paid as soon as I sell off a blueprint. Reason for the delay in the last 400mill : BPO unlock took longer than it should have and so I haven't been able to free up the isk to pay the dividend. Also I didn't have the isk in wallet to pay it out in full due to buying the minerals for the next production cycle. The delay should only be for one day or two. Sorry for the inconvenience :)

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