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Mr Bushar's Bond Run #1: 10M bonds, 30d, 15% interest (DONE, REPAID)

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Mr Bushar
Doomheim
#1 - 2012-07-16 14:58:30 UTC  |  Edited by: Mr Bushar
STATUS: FILLED
According to my financial forecasts, I will not be needing funding for at least two more weeks, and as such, this bond run is now officially closed

JULY 22 - FLEXIBLE TERMS ARRANGEMENT
I decided to offer my investors a flexible arrangement. If any investor would like to obtain repayment with interest early, let me know and we can work out a 0.5% interest per day component.
This is completely optional, and I have decided to add this to thank you for your support.


Hi everyone,

I am offering bonds with the following terms:

Bond Face Value
10M per Bond

Bond Limit per Person
Each person may purchase up to fifty (50) bonds for this run

Bond Repayment Terms
The bonds will be repaid the following month on the same day. Daily proration will not be taken into consideration.

Bond Issuance Date
I am offering a flexible arrangement. You can purchase bonds at any time and the repayment terms will be honoured.

Bond Interest Rate
15% per month for each bond

Late Payments
Late payments are not expected. In the case of a late payment, you will receive an additional 1% interest payment on the principal per day under this agreement.

How to Subscribe for a Bond
You must:
- Send me an in-game mail with the amount
- Wire the ISK to Mr Bushar on the same day you are sending the mail

You could also:
- Post in this thread with the total amount and any other information

Background Information, Risks, Etc...

I have played Eve several years ago when the game was fairly young.
I quit as the game did not interest me in general, but came back as I found a great interest in trading and operating a financial institution.

In real life, I work for a large audit firm. I have a good understanding of business and finances. I also teach tutorial classes part time for accounting and audit courses in University.

I understand that this is a risky bond, and as such, 15% interest (above and beyond what will be offered in subsequent bond runs) is offered.

Risks:
- I am not well known in the community and my account and character are fairly new.
- There is always the risk of fraud. My level of integrity is very high, and I would liquidate everything I had to repay all the loans if it came down to it, but at the end of the day only I know that about myself.

Risk Mitigators:
- The business I will be running is very low risk; Essentially, I am station trading.
I started with a capital of 100M, and a zero-interest two week loan of 400M from my real life friend.
In two days, I am up to 720M total asset worth (before 400M liability), with a total of 1.8B asset turnover.
I am good at what I do, and my style of trading (items, quantities, diversification levels, cash management, etc...) shall remain undisclosed except for the fact that station trading is my only business activity.

NEW: Investor Loyalty Program (6 spots remaining)
I will always offer interest rates higher than the average rates in this forum, even in the future.
I am starting an investor loyalty program to justify the high level of risk in this investment until I build a solid track record.
- The first 10 investors to buy at least 10 bonds will obtain a Lifetime Guarantee on my future bonds
- Lifetime Guarantee: This includes the first dibs on any future bonds I will issue. Once I develop a solid track record of paying my debts, and offer bonds with a higher cap and great interest rates, these ten investors will have first dibs buying bonds before the rest of the forum.
- This incentive program was created to encourage the first few risk takers to make a decision about investing. You get great future interest rates, and I get to start developing a reputation.
- All I ask is that once you receive your principal and interest payment in full, you will vouch for me in the thread

PREMIUM INVESTOR LIST: Makro SSRI, Xearal, Invictus Kruegar, Capa Trade

I will continually update this thread when bonds are issued and repaid, as well as providing business activity reports.
Anonymous bonds are not allowed, I will publicly announce every bond holder's name, funds received, date received, funds due, funds paid, and date paid.

Investor List (Constantly Updated)
Real Life friend (interest free to get me started) - 400M
July 16 - youm02 - 30M
July 17 - Makro SSRI - 500M
July 18 - Xearal - 100M
July 19 - Invictus Kruegar - 100M
July 20 - Capa Trade - 100M

Other relevant data when computing operational results:
July 18 - Shadowfoot - 100M capital injection (shareholder in our operations, best friend irl)
July 18 - Shadowfoot - 400M interest free loan forgiven

Internal Bond Tracking screencap: (Updated July 20)
http://i.imgur.com/8giBJ.png


OPERATIONAL RESULT UPDATES

July 16 mid-day operating results:
http://i.imgur.com/Wnj6X.png
http://i.imgur.com/NbcwD.png
http://i.imgur.com/pz2l1.png
http://i.imgur.com/3jtl5.png

July 17 mid-day operating results:
Trade Summary: http://i.imgur.com/YX8EZ.png
Asset Worth: http://i.imgur.com/ant4L.png (** Not Net Asset Value, Current Liabilities = 430M)
Cash Flow Statement: http://i.imgur.com/Dt6t2.png

July 18 mid-day operating results: Up to 5.5B turnover, 600M profit in total.
http://i.imgur.com/EuXdw.png

July 19: Up to 8B in turnover and 862M in total profits
http://i.imgur.com/2zVS6.png


ANNOUNCEMENTS

July 19 - SURPRISE BONUS PAYMENT
See https://forums.eveonline.com/default.aspx?g=posts&m=1656498#post1656498

July 20 - BOND FREEZE
See https://forums.eveonline.com/default.aspx?g=posts&m=1660800#post1660800

August 7th - Thank you everyone, all loans have been repaid early with full 15% interest.
Bad Bobby
Bring Me Sunshine
In Tea We Trust
#2 - 2012-07-16 15:39:55 UTC
It is an extreme gamble investing 100m+ in a 3 day old character.

From our point of view you have nothing to lose by defaulting as you have no reputation to burn and your character is essentially worthless.

As you haven't submitted to an audit to verify any of your claims they must all be taken on blind trust. We have no proof that you are capable of trading and therefore no proof that you are capable of generating the required interest.

You offer no collateral and probably have none to offer. You probably have little to fall back on should your plan fail in a legitimate way.

You haven't put a great deal of effort in to this. If you are honest, then you are also naive and overly hasty. If you are dishonest, then you can add lazy to that list.

15% interest does not justify the risk at all. No amount of interest really could justify it.
Darth Tickles
Doomheim
#3 - 2012-07-16 15:43:36 UTC
Did you really think you were being clever with this whole "attack audits->offer bond" scheme?

Talk about being painfully transparent.

I am glad you wasted a whole bunch of time and effort on :words: for your hilariously awful scheme. That always brings me some measure of joy.

See you on the next alt.
Mr Bushar
Doomheim
#4 - 2012-07-16 15:44:42 UTC
Bad Bobby wrote:
It is an extreme gamble investing 100m+ in a 3 day old character.

From our point of view you have nothing to lose by defaulting as you have no reputation to burn and your character is essentially worthless.

As you haven't submitted to an audit to verify any of your claims they must all be taken on blind trust. We have no proof that you are capable of trading and therefore no proof that you are capable of generating the required interest.

You offer no collateral and probably have none to offer. You probably have little to fall back on should your plan fail in a legitimate way.

You haven't put a great deal of effort in to this. If you are honest, then you are also naive and overly hasty. If you are dishonest, then you can add lazy to that list.

15% interest does not justify the risk at all. No amount of interest really could justify it.


Perfectly understandable, and at this point, I would agree that the risk is almost a gamble.
I am not going to disagree with you.

The offer, however, still stands for people willing to accept this level of risk.
The bond principal and 15% interest will be repaid, and I plan on building a reputation of full and timely repayments.
Mr Bushar
Doomheim
#5 - 2012-07-16 15:49:01 UTC  |  Edited by: Mr Bushar
Darth Tickles wrote:
Did you really think you were being clever with this whole "attack audits->offer bond" scheme?

Talk about being painfully transparent.

I am glad you wasted a whole bunch of time and effort on :words: for your hilariously awful scheme. That always brings me some measure of joy.

See you on the next alt.


I can see how you think it's a scheme. Any reasonable person could agree with that.
My view of the state of auditing in this game came from a couple days of reading the market forums and relating the "audits" to my real life experience. My view still stands that audits in this game provide almost no assurance, and this opinion is unrelated to my trading activities.
Bad Bobby
Bring Me Sunshine
In Tea We Trust
#6 - 2012-07-16 15:54:07 UTC
Mr Bushar wrote:
Perfectly understandable, and at this point, I would agree that the risk is almost a gamble.

It's worse than that.

If someone was to invest in you, regardless of wether you go on to honor your word, it's an open invite to anyone in EVE to create an alt and come to MD with a carbon copy of your proposal.

It would be irresponsible for anyone to invest in you, regardless of the direct outcome from this bond.
Cebraio
State War Academy
Caldari State
#7 - 2012-07-16 15:55:51 UTC
Considering that making alts in EVE is awfully easy, I really don't understand why you post an anti-audit campaign with this character and then a bond afterwards, if you were trying to land a scam. This can only mean that A) you are stupid and failing at scamming, or B) are actually honest and just stated your opinion there.

Either way, I'm not going to risk losing anything here. No collateral, no audit, no history, no reputation, not even the (in-game) skills for trading. It's not worth trying my luck and trusting you on this, not even over 100m.
Mr Bushar
Doomheim
#8 - 2012-07-16 15:58:09 UTC
Bad Bobby wrote:
Mr Bushar wrote:
Perfectly understandable, and at this point, I would agree that the risk is almost a gamble.

It's worse than that.

If someone was to invest in you, regardless of wether you go on to honor your word, it's an open invite to anyone in EVE to create an alt and come to MD with a carbon copy of your proposal.

It would be irresponsible for anyone to invest in you, regardless of the direct outcome from this bond.


I don't understand - what is wrong with anyone in eve coming to MD and creating a proposal?
It's called free choice, if someone wants to invest in risky bonds for higher returns, let them.
If that is not your personal strategy, then nobody is forcing you to invest.

Even if this bond run is not successful, I will create another several months later after I have built a reputation.
I am seeking financing to help me grow faster, and will provide higher returns accordingly.
Mr Bushar
Doomheim
#9 - 2012-07-16 15:59:04 UTC  |  Edited by: Mr Bushar
Cebraio wrote:
Considering that making alts in EVE is awfully easy, I really don't understand why you post an anti-audit campaign with this character and then a bond afterwards, if you were trying to land a scam.


If I was trying to land a scam, I would post on a different character than the one I used to express my views on audits, which, by the way, still stand.

This is my main and only character, as I am a returning eve player.

Cebraio wrote:
Either way, I'm not going to risk losing anything here. No collateral, no audit, no history, no reputation, not even the (in-game) skills for trading. It's not worth trying my luck and trusting you on this, not even over 100m.



That is perfectly fine :)
Mr Bushar
Doomheim
#10 - 2012-07-16 16:07:32 UTC
Results of Operations so far:

http://i.imgur.com/Wnj6X.png
Kailean
Caldari Provisions
Caldari State
#11 - 2012-07-16 16:09:53 UTC
Mr Bushar wrote:
Even if this bond run is not successful, I will create another several months later after I have built a reputation.


Yeah, that didn't make any warning bells go off for me at all.
Bad Bobby
Bring Me Sunshine
In Tea We Trust
#12 - 2012-07-16 16:11:18 UTC
Mr Bushar wrote:
I don't understand - what is wrong with anyone in eve coming to MD and creating a proposal?

It would fill the forum with scams which would overwhelm the legitimate offerings and further discourage people from comming here to invest their isk. This would be bad both for the legitimate MD community and the harder working scammers. Essentially a public relations disaster.

Mr Bushar wrote:
It's called free choice, if someone wants to invest in risky bonds for higher returns, let them.

That isn't free choice, it's an over-abundance of expensive choices.
Bad Bobby
Bring Me Sunshine
In Tea We Trust
#13 - 2012-07-16 16:12:11 UTC
Mr Bushar wrote:
Results of Operations so far:

http://i.imgur.com/Wnj6X.png

If someone braver than I want's to click that link, do let us all know what you find.
CorInaXeraL
The Dresdeneers
#14 - 2012-07-16 16:20:59 UTC  |  Edited by: CorInaXeraL
Bad Bobby wrote:
Mr Bushar wrote:
Results of Operations so far:

http://i.imgur.com/Wnj6X.png

If someone braver than I want's to click that link, do let us all know what you find.


Looks like a basic spreadsheet that simply compares ISK invested, ISK gained from sales, Net Profit, and % of investments returned through sales. Looks like there's links in the spreadsheet to do 1-day, 7-day, and 1-month, as well as current month comparisons, nothing earth-shattering though.

13.69% profit from $1,742,572.145 isk invested ($281,001.067 isk profit) from an overall return of $1,928,422.629 isk in sales.

Though, without the API wallet verification, it's simply numbers on a spreadsheet, which anyone can type in.



Edit: This was a screenshot of said spreadsheet, so the options to peruse history or broaden the scope (screenshot is 7-day history only) are unavailable.
Kailean
Caldari Provisions
Caldari State
#15 - 2012-07-16 16:21:12 UTC
Bad Bobby wrote:
Mr Bushar wrote:
Results of Operations so far:

http://i.imgur.com/Wnj6X.png

If someone braver than I want's to click that link, do let us all know what you find.


It's just a spreadsheet.
Cebraio
State War Academy
Caldari State
#16 - 2012-07-16 16:22:38 UTC
Bad Bobby wrote:
Mr Bushar wrote:
Results of Operations so far:

http://i.imgur.com/Wnj6X.png

If someone braver than I want's to click that link, do let us all know what you find.

Numbers. Lots of them. Black numbers on white background. Some even have green background, indicating growth. Looks legit.
Mr Bushar
Doomheim
#17 - 2012-07-16 16:23:58 UTC  |  Edited by: Mr Bushar
It's a screenshot from API and EveMarketeer.com
The data is gathered directly from my API.
Bad Bobby
Bring Me Sunshine
In Tea We Trust
#18 - 2012-07-16 16:37:30 UTC
Kailean wrote:
Bad Bobby wrote:
Mr Bushar wrote:
Results of Operations so far:

http://i.imgur.com/Wnj6X.png

If someone braver than I want's to click that link, do let us all know what you find.


It's just a spreadsheet.

Shame, I was hoping for Rick Astley.
Mr Bushar
Doomheim
#19 - 2012-07-16 16:37:38 UTC
Mr Bushar
Doomheim
#20 - 2012-07-16 16:38:13 UTC
Bad Bobby wrote:
Kailean wrote:
Bad Bobby wrote:
Mr Bushar wrote:
Results of Operations so far:

http://i.imgur.com/Wnj6X.png

If someone braver than I want's to click that link, do let us all know what you find.


It's just a spreadsheet.

Shame, I was hoping for Rick Astley.


At this point, you can stop trolling in my thread.
Thanks.
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