Posted - 2007.07.12 14:28:00 - [1]

 

Edited by: BSAC Manager on 26/07/2007 11:22:35
Edited by: BSAC Manager on 25/07/2007 14:08:42
Edited by: BSAC Manager on 19/07/2007 11:51:12
EDIT:
IMPORTANT

The Fund will not be accepting new investors after July 25, 2007.

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Previously, we issue an open call for BPO Trustees which was successfully fulfilled. Details can be found elsewhere. We now seek 2 Bil ISK from investors for inventory purposes.

Currently, the total amount invested into the Capital Ship Fund (CSF) is approximately 20.7 Bil. Of that only 1.36 Bil is used for inventory, the rest of the fund is invested in BPOs. It should be noted that 1.36 Bil is barely enough for 2 Obelisk. Yet, BSAC managed to produce parts for 2 Obelisk plus a Pheonix. This was possible because minerals were bought on credit from the Mineral Reserve. With the Charon coming out of ME research and the Obelisk going into ME research, BSAC wants more parts so we can have a smooth transition between the Obelisk and the Charon, which means keeping an inventory for 2 Obelisk, 1 Charon, and 1 Pheonix. Well, that’s about 3.35 Bil inventory.

I can continue running the CSF with a 2 Bil debt, but that is putting some stress on the Mineral Reserve, which in addition has put a 1 Bil collateral for ME research. The Mineral Reserve is only 5.8 Bil in size, and 3 Bil has been loaned to CSF. I can continue this arrangement, but in the end we need to raise 2 Bil ISK to maintain a healthy production line.

For this purpose, 200,000 “Block Ship and Ammunitions Shares” will be sold at 10,000 isk per share. These new shares will be created after the sales of our second Obelisk, which is scheduled out of the fab line on July 18. This is mainly to protect current shareholders. Interested investors should visit our sales thread.

Any concerns, comments, or questions regarding the CSF program should be posted here.

Prospectus