Market Discussions

Well done.

Processing withdrawal requests as quickly as possible is a requirement for good banking operations.

Consider billing yourself as an investment fund - it more accurately characterizes your activities and still provides for the "buying" and "selling" of fund shares with the fund manager. This would also support private secondary sales between sellers and buyers of those shares and providing potentially better liquidity between investors/customers should you be unable to meet your published (Service Level Agreement)SLA on withdraws.

Just some thoughts.

As previously stated, TAUTX will be expanding by 1250 shares on June 1st. Current share holders are allowed to reserve a portion of these shares. To determine how many shares you can reserve: take the amount of shares you currently have, and multiply that number by 0.25. The resulting whole number is the number of shares you can reserve.

If you wish to take advantage of your reservable share allowance, you must evemail me BEFORE the first of the month requesting a specific amount of reservable shares.

For all of you that have already requested your reservable allowance, or plan to: you may now send the correct amount of isk to the TAUTX CORPORATE WALLET. Your deposits will be confirmed via evemail, and I will issue your shares after the June 1st interest payment has been completed. Remember, the current buy and sell price is 1mil isk per share. Overages will be returned, and discussed in your confirmation evemail.

The remaining shares will be available on a first come first serve basis for the public, and current clients; indiscriminate. Beginning June 1st at 00:00 evetime, you may evemail me requesting a specific number of shares. I will confirm and request your isk to be sent to the TAUTX CORPORATE WALLET. Once your deposit is confirmed, you will be issued your shares. Any evemails sent before June 1st 00:00 evetime will be considered invalid.

June 1st's interest payment will be the last 2.5% flat return per isk invested. July 1st, and subsequent payments, will utilize the new single dividend payment structure. Please refer to the TAUTX webpage for details. Any questions or comments may be posted here, or evemailed to me privately.

Please join the "TAUTX" Mailing List for updates such as this, and other related news.

Thank you.

heh....still at it I see. You and 'Far' must not have day jobs. I don't see how you run these 'banks' and still have time to field all this BS on the forums. You must really like that public money and all the rep building. Again....good luck.

Thanks for the goodluck, Scion. I have a day job, actually. And a family. Running this bank to pay my subscription fee is truthfully less time consuming than before running the bank. I log in a few times a day, update market orders, respond to evemails, and occasionally post TAUTX news/reports. It's really not that time consuming at all, and I absolutely love the rep building because it's slowly proving everyone wrong that posted on this thread in the beginning.

Dividend from Tauren Transit
From: Koniforous
Sent: 2014.05.30 03:08

Tauren Transit may have credited your account as part of a total payout of 2,500,000,000.00 ISK to their shareholders. The amount awarded is based upon the number of shares you hold, in relation to the total number of shares issued by the corporation.

June 1st's interest payment has been issued 2 days early. Estimated NAV and profit reports will be posted soon.

Sent you a message ingame with some questions.

I have finally developed a way to utilize TAUTX Futures [TAUTF]! I will use TAUTF to host the Bonds Branch of TAUTX. Skip to the bottom for the simplified bonds overview, or continue on to read the full details (it's wordy!)

In reality, I will be performing all accounting and fund transferring, funneling all funds into my personal wallet just as I do with TAUTX funds. The TAUTF corporation will act as a placeholder to display the bond information, as well as maintaining a separate wallet journal to distinguish Bond Holders from TAUTX Account Holders.

TAUTF will sell 30 day bonds to the public to assist in the monthly profits of TAUTX. Bonds will cost 100mil, have a fixed ROI of 3% (0.1% per day), and will be sold at anytime during the month. This will allow for a type of mid-month deposit and boost monthly revenues; increasing TAUTX Share Holders' monthly payouts. Bonds will be able to be sold back to TAUTF anytime (as soon as funds permit). Bonds will begin accruing interest at 0.1% per 24hr period as soon as they are purchased. On the 30 day mark of a bonds purchase date, assuming the bond is still active, the initial purchase price and any accrued interest will be transferred to the Bond Holder's wallet, the bond will be considered to have matured, and will be closed.

Bond Holders can be either entities or pilots. Shares will not be used for these transactions. In-game records will be maintained to distinguish active Bond Holders. This falls under the TAUTX Private Bank & Lending umbrella, therefore: any clients, and/or interactions between those clients, will remain anonymous. I will never release your name to the public, nor any of our interactions, without your approval. I would greatly appreciate any of my clients coming forward to post on this thread, but I will never force any of you to do so.

Bond purchase prices will be excluded from TAUTX profit reports, so too will bond withdrawals. Paid bond ROI's on bond withdrawals will be applied to TAUTX liabilities for the month of their paid out date. Any funds generated through the use of TAUTF Bonds' sales will be automatically applied to TAUTX profits via Eve-Mogul to help boost TAUTX monthly profits. Active bond funds will be deducted from TAUTX Net Asset Value reports. Bond funds are excluded from the lending pool.

Maximum bond sales shall not exceed maximum TAUTX Shares in circulation (Listed in TAUTX corporate info). Since the current maximum of TAUTX deposits is 6.25 billion, TAUTF Bonds, being sold in increments of 100mil, will for now have a maximum circulation of 62 (6.2 billion).

::--::__--__Simplified Overview__--__::--::

- TAUTX Futures [TAUTF] corporate info has been updated as the placeholder for bond sales information.
-Bond Maturity = 30 days
-Bond Price = 100mil
-Bond ROI = fixed 3% (0.1% per day)
-Maximum Bonds in Circulation= 62
-Purchase a bond at anytime, sell back a bond to TAUTF at anytime
-Bonds are designed to boost TAUTX profits and therefore boost monthly returns for TAUTX Account Holders
-Paid Bond ROI's will be counted as a TAUTX liability during the month of their payout
-Bond funds are excluded from the lending pool

As always, questions and/or comments are greatly appreciated. These are initial policies and values that may be adjusted in the future.

Feel free to contact me if you wish to purchase a TAUTF bond. Thank you.

You might want to rethink the interest rate you are offering on those bonds. 3% seems very low for what is effectively an expansion that seeks to double your borrowings and thus significantly increase the risk of the investment. Personally, I would be inclined to move more incrementally and either seek to increase your exposure or seek to reduce the amount you pay to borrow isk but not both in one bound.

This is especially the case given that it looks like the expansion is about 5 times the size of your last recorded monthly profit (1.2bil). If you are only making 1.2bil or so a month then one might reasonably consider 6 billion to be a very considerable amount of isk from your perspective - indeed, the 12 billion of public exposure you are open to looks like it would take 10 months work to gather under your own steam. Those kinds of ratios are not terribly attractive.

By the way, has there been any third party oversight of your business yet?

I don't mean for this to sound overwhelmingly negative. On the face of it you have been running a working operation for 4 months now and either expanding your debt or refinancing at a lower level is a perfectly legitimate move. Getting an audit done to confirm that your activities are what you claim they are would be a very valuable step moving forward. However, you need to be careful not to expand too far or too fast or your business will start looking like a cash grab.

First of all, thank you for the input, gentlemen.

RAW:

1. The interest rate on bonds has been set at 3% monthly because originally I had promised returns on Investment Accounts (originally savings accounts) at 2.5%. I want bonds to be just as attractive, but also low enough to reduce the chance of any major defaults. With the IA's (Investment Accounts; the primary TAUTX accounts) the chance of defaulting is actually a lot higher than defaulting on a bond, since I am not using shares to represent bonds I will be able to close bonds and pay any accrued interest before a possible default occurs. While I am effectively doubling the possible deposit values, I am working with a significantly lower chance of default by using bonds as the expansion.

2. You are correct, at the current rate of NAV increases and monthly profits it would take considerable time to earn the actual deposit value from any bond sales. However, I have purposefully tied the maximum bonds available to TAUTX maximum deposit values SPECIFICALLY because TAUTX maximum deposit values are derived from the TAUTX NAV. Since TAUTX NAV must equal 2x the maximum deposit values to expand, bonds are theoretically backed by TAUTX personal funds (bank funds not owned by depositors). ::EDIT:: If anything were to go wrong there is a significant cushion to cover either deposits or bond purchase prices. That was the intent, anyways. If this becomes problematic, I will make changes, just as I have done several times with other policies.

3. Define oversight? As it turns out, I have contacted several 3rd parties, of whom opinions I greatly respect, when I am thinking of enacting new policies. I share back and forth evemails with them and also take into account any opinions expressed on this thread before publishing any new policies. Case in point: This bond idea stems from a very wise 3rd party that suggested I leverage my funds more favorably by reducing the cost of my capital; since IA's can potentially cost me significantly more to use than fixed return accounts, and bonds can be sold at anytime during the month.

4. As stated in answer 2., I have purposefully tried to avoid appearing as a cash grab by enacting proper policies that should keep all funds at minimally low chances of any defaults. I am entirely open to the idea of 3rd party audits. My only concern is that the auditor does not reveal any personal account holder information with anyone. I have a privacy guarantee for my clients, and so the auditor would have to be a trusted member of the community, naturally. I am completely willing, for example, to allow you, Hexxx, Elizabeth Norn, Chribba, and/or Grendell to review my full api key, under the condition that the only information released would be to confirm (or deny) that I am maintaining TAUTX as I have said I am, presenting proper financial reports, and any other information required, but not identifying of any of my clients, or using any information obtained for personal or associate's gain/fun/pain.

Hexxx:

3. Thank you!


::EDIT::

As this new bond offering will place a potential 50% debt value on TAUTX funds, future Share expansions will be postponed. Bond sales will continue until 100% of their current maximum value has been earned and added to the TAUTX personal fund. When TAUTX NAV is equal to 2x the combined value of maximum IA's and maximum Bond Sales (24.9bil) only then will IA expansions and Bond Sales expansions occur.

How's that RAW, and Hexx? For whatever reason I wasn't mathing properly. This last policy basically put TAUTX back to square one when it originally launched. I will increase debt value from 0% to 50%, and when debt value has once again achieved a 0% value, I will expand.