Market Discussions

Morning everyone,

As per the discussion thread* it's now time to finally go live. Chribba holds the collateral in the form of BPOs matching the full bondvalue in NPC-value and will confirm doing so below. And with this post VV can finally get to sum up the audit.

Most of what's mentioned in the discussion thread still stays true. The one big difference is that the interest rate has unsuprisingly been lowered to 2%. This partly to reflect the massive response recieved, but also to facilitate some unforseen changes made in Crucible 1.1 and 1.2, making one of our markets somewhat unstable. Given the low risk and duration of the bond the interest rate is still competetive.

Basic terms:
1b minimum in 1b increments to a total of 50b.
2% monthly interest, paid during the first week of each month.
Bond starts once filled, first interest payout is April
Bond ends with the sixth interestpayout, expected to be early September.


We reserve the right to cash out any investor at any time, refunding the full investment and accrued interest rounded up to nearest full month.

Reservations are handled on a first come first served basis. Either post in thread or mail me if you want to maintain anonymity.

I'm sure I've forgotten a bunch, but just chime and I'll keep on adding info about it.
https://forums.eveonline.com/default.aspx?g=posts&m=628971

Isk recieved:
EnterprisePSI 5b
Ambo 20b
Oerlikon Llama 2b
Anonymous 18b
Lost Hamster 5b

My god you people are fast. Thanks and noted.

Everyone but you from the former thread should now have been mailed a heads up aswell.

Reserving 2B.

I'll take up to 20 bil if there is any left...

If there is any left, which I am not sure there is..

I will take 10 Billion

Or please add me to the reserve list.

A fully featured audit for Tanith YarnDemon has been published on the Public Audit Records database.

A forum compliant version of the audit will be produced and posted as soon as possible.

Assets and balance


Balance

Wallet balance: 77.700B
Market sell-orders: 11.928B
Market escrow: 1.021B
Contracts: 0.000B
Investments / receivable: 0.000B
Liabilities / payable: (0.000) B
Total: 90.649B

---

Assets
POS: 3.492B
Fleet / ships (unfitted): 12.916B
Modules: 82.210B
Misc. solid assets; minerals, salvage, ice and trade goods etc.: 5.597B
Blueprint copies and originals: 61.646B


Other

Accessories (includes PLEXes): 5.203B
Charges: 3.546B
Commodities: 4.795B
Drones: 1.961B
Ordered assets under construction: 0.000B
Planetary items or resources: 1.113B
Ship components: 0.005B
General or classified items: 6.308B
Total: 188.792B

Estimated grand total: 279.441 Billion ISK

The above evaluations were made by using The Forge prices as reference.

---

Current assets

The Investee heavily deals in contracts. Since the general EvE Investor might be not accustomed at complex balance sheets, the Auditor chose to keep the current assets off the NAV. There is a total of 7,169,342,000 ISK in current assets. When sold, those would add to the current wallet balance.

Snapshot of outstanding contracts

Another reason to keep them separate is the current lack of reliable contracts API software, the whole process has been completely performed by hand and Excel, since tools like API Jacknife failed to return a correct and full dataset.


Markets analysis

This is not a full market analysis but just a proof that the Investee also deals in other markets. The balance looks negative but this because it includes all the purchases but none of the finished products contracts sales.

Last month sales graph

Last month income: 21.15B.
Last month expenses: 24.4B
Total month balance: -3.25B


Positives

The Investee has the character skills to confirm his claims.
The Investee net worth is vastly more than the requested capital, the Investee is comfortable dealing with the involved amounts.
The Investee has proved the blueprints being original.
The Investee accepted an audit, had a prior discussion and took time to share his final prospectus and have some points checked.
The Investee accepted a long conversation to bring many factors in light.
Some PvP past is always a boon when dealing with prolonged operations that could be wardecced or whatever.
Low interest rate makes for an easier investment profitability.
Investment is fully collateralized.


Negatives

Supply chain might be disrupted and tangible losses could happen due to the location of the production.
Part of the Investee production happens in low security, this is always a risk factor, whatever the safety measures and experience involved.
Mineral prices might drop and eat into the investment profitability. The Investee could be forced selling ships whose minerals were more expensive than at the time of sale.


Conclusions

Due to the full collateral, possible RL associate being able to help, multiple availability of records, and Investee past ability both to deliver and form a functional supply chain, the Auditor classifies this investment as moderate risk.

Please notice how “moderate risk” does not mean “safe”. There might be loss of profitability over time, supply chain disruption, real life issues involving the Investee or Chribba.

The Investee seems competent (skills wise and player wise) enough to deliver on his statements and has records. His business is in a growth phase, his API records show he may operated as he stated.

Basically, the Investee looks like with the ability to successfully honor the bond. Notice how an audit can only evaluate the ability or potential of an Investee to succesfully honor a bond / IPO.
The Auditor suggests perspective Investors NOT to invest their full capital on this venture but to offer what they could eventually afford to lose.


Disclaimers

Due to stringent EvE API limitations, although the information provided to you on this document is obtained or compiled from sources believed to be reliable, Vahrokh Consulting cannot and does not guarantee the accuracy, validity, timeliness, or completeness of any information or data made available to you for any particular purpose.
This Auditor is actively and passionately against any breach of privacy, in particular regarding in game mail API access. Therefore no information will ever be gathered and no audit will ever be released that will contain any element found by eavesdropping someone else’s private communications.
Neither the information nor any opinion contained in this document constitutes a solicitation or offer by Vahrokh Consulting or its affiliates to buy or sell any securities, assets or services.

Worst part is you could prob get away with 0.5%

Isk sent.

ISK transfered.