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ICQ Salvaging : IPO - Filled . Now with Bunny Pics on Post 11
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Every One
Triglavian Directive
S h a d o w
#21 - 2012-12-20 06:11:36 UTC
Spence Deninard wrote:
Hi everyone.

Well....hi...
Fractal Muse
Sebiestor Tribe
Minmatar Republic
#22 - 2012-12-20 16:23:18 UTC
Spence Deninard wrote:
Hi everyone.
Now, either way is suitable to my system. Option 1 gives the business more capital to play with at a fairly generous level while Option 2 means a bit more work involved (finding buyers, selling goods and tying up capital in the form of inventory). Option 2 however potentially gets me a little bit more income as from what I have seen eve-marketdata.com is a little undervalued in some areas and only values at Jita prices.

The reason for this forum post is firstly to look for some advice regarding the above and secondly to advise my investors I will be paying weekly starting from this week. The faster I generate a dividend, the faster that the 50% can be reinvested back into working capital (I have kept it separate for now to avoid confusion). At this point there is 48m available for dividend day with 25% of that going to my two investors (12m) and I now have approximately 50m worth of loot to attempt to sell (as per the above paragraph).

To make your life easier I would suggest to use the 'estimated value' of items that EVE gives you. That'll net you a little more ISK when you sell the items yourself and your clients will be able to see, without any additional effort, that you are being true to your word.

Having to constantly check an external source for the current price of every item is going to become extremely time consuming. EVE has an easy way to estimate value so use that! It's typically a little below JITA market prices.

I would suggest that skilling up a trading alt is a good idea when you can start taking the time to put into it. Being able to trade in volume will become very useful and increase your ISK generation by a few % - which, in the long run, will become rather valuable.

I'm glad to read that your project is doing well!
Spence Deninard
The Scope
Gallente Federation
#23 - 2012-12-21 07:11:52 UTC
Fractal Muse wrote:
To make your life easier I would suggest to use the 'estimated value' of items that EVE gives you. That'll net you a little more ISK when you sell the items yourself and your clients will be able to see, without any additional effort, that you are being true to your word.


If you have a look at www.eve-marketdata.com it has copy/paste fields. You copy all of the information straight from your cargohold into the notepad of eve-marketdata.com and it instantly compiles a list of prices and total value. The value seems to be more accurate than the one in Eve and it goes off Jita prices and also provides prices of +20%.

The way I work it, when I finish a salvage job with a client I export the assets into a spreadsheet and then copy/paste a portion of the spreadsheet into an evemail to the client so they can see every piece of loot along with the amount it was valued at, the total value and the amount paid to them (50% of value). They then have the option to suggest if something is out of order (such as a price being way off) and an adjustment can be made to suit both parties fairly.

From the end of the mission to the end of my paperwork is approximately 4 minutes. My spreadsheet allows me to see precisely where the loot is located, what it's worth, what my profit margin has been etc.

Quote:
Having to constantly check an external source for the current price of every item is going to become extremely time consuming.


I agree, hence the convenience of the above. Check that site out, it really does seem incredible.

Quote:
I would suggest that skilling up a trading alt is a good idea when you can start taking the time to put into it. Being able to trade in volume will become very useful and increase your ISK generation by a few % - which, in the long run, will become rather valuable.


Yes, except I will be trading in large quantities rather than volume. Most of the named stuff may only have a few items per so I would rather hold them as long as possible to have decent sized loot batches, but there will be hundreds of items.

Quote:
I'm glad to read that your project is doing well!


Thank you kindly and thanks for the advice.
Spence Deninard
The Scope
Gallente Federation
#24 - 2012-12-22 12:44:39 UTC
Starting NAV Week 1 - 200,000,000

Cash on hand (main wallet) - 36,496,401.99
Cash on hand (secondary wallet) - 17,944,360.53

Purchased Assets:
Noctis plus fittings - 102,733,995.69
Platinum Insurance - 22,674,602.40

Loot / Salvage Estimated Asset Value:
Torrinos V - 25,750,218
Kaunokka II - 19,475,088
Ichoriya V - 33,163,678

NAV End of Week 1: 258,238,344.61

Purchased Assets + Cash on Hand = 179,849,360.61

Dividend to be paid out using this formula:

125,408,598.09 + 54,440,762.52 - 200,000,000 = -20,150,639.39
(purchased assets)+(cash on hand)-(starting balance) = DIVIDEND

This is due to the fact that a dividend cannot be paid on inventory and if I use cash on hand it means I am dividending with funds needed to pay clients. This formula should also ensure reinvested funds aren't just paid in future dividends as the starting balance will increase each time a dividend is paid and the corporation has 50% reinvested.

Fun Facts:

Estimated Value of all Salvage & Loot recovered - 170,407,099
Estimated Profit - 78,388,984
Payments made to clients for salvage & loot - 92,018,115

Number of jobs completed - 6
Number of clients serviced - 4
Number of new clients serviced - 4


TLDR :
- We made 58,238,344.61 this week however these assets haven't yet been sold.
- As a result no dividend this week
- The corp wallets needs to exceed 74,591,401.91 before dividends can proceed.
- My estimates always attempt to emulate worst case scenarios
- Haven't started selling due to poor trade skills, will begin this week
Spence Deninard
The Scope
Gallente Federation
#25 - 2013-01-08 10:16:51 UTC
Hi guys,

Unfortunately due to real life issues I won't be continuing this offer. I managed to spend from 31st Dec to 5th January in hospital and just haven't found the time to follow up with this business with all the RL stuff going on and to a lesser extent a lack of interest in tracking down people willing to let me salvage/loot.

Having said that, I have been playing with the markets and running Level 3 missions. I loaned myself some isk over the period to upgrade ships and have paid all but 10m back with interest.

I am closing this out as follows

Fund was for 200m isk

I am repaying 100m isk right now.

As assets loosen up and I make the money to do so I will pay 2 more payments of 75m each, generating effectively a 125% return on investment over the course of the offering which at this point has been going about 3 weeks.

I will be evemailing my 2 investors directly to advise them of the above.

Thank you for all the advice and guidance provided.
Spence.
Every One
Triglavian Directive
S h a d o w
#26 - 2013-01-08 10:55:49 UTC
I feel bad for what happened to you, hope you get back to 100% soon. Food was bad? What?
El 1974
Green Visstick High
#27 - 2013-01-08 13:01:22 UTC  |  Edited by: El 1974
Hi, I got the msg and the first payment. Sad to hear the bad news. Hope you'll be allright.

Edit: I hope the bunny suvived x-mas.
Spence Deninard
The Scope
Gallente Federation
#28 - 2013-01-08 14:42:53 UTC
Bunny is fine :)

We increased the rabbit run to the whole grassed area of the backyard as he is a very well behaved bunny.

Doctors don't know what's wrong but it isn't serious :) Thanks for the kind responses.
Wescro
Deep Core Mining Inc.
Caldari State
#29 - 2013-01-09 02:44:03 UTC
Best of luck to you. Your initial investors seem happy, I'll take a look if you ever do another IPO.

http://crossingzebras.com/2013/02/17/csm8ripardteg/
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