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Ray McCormack
Nordar Innovations.
Posted - 2007.03.28 18:05:00 - [31]
 

Have a look at FIN's trustee model. Basically you will have a few trusted community members as the CEO and Directors of the corp. They will lock the BPOs (your most valuable assets) and you will have access to them. You do not get Director access, and cannot control more than 50% of the shares. This means there is no way for yourself to run off with all the corporation assets.

Ricdic
Caldari
Caldari Provisions
Posted - 2007.03.28 18:36:00 - [32]
 

Edited by: Ricdic on 28/03/2007 18:33:22
Yep, as above this is strongly advised. It adds a huge level of security to your operation, and if you refused to do something of this accord, it would look poorly on your operation.

There are plenty of trustworthy people in Eve and in these specific forums. Putting the BPO's on lockdown, means that the trustees that you choose, would have to scam in unision and affect both of their reps, in order to steal from you/shareholders.

I personally find the best way :

Have 3 people (you +2 trustee's), each with 33.3% of shares, and all but you with director status. This ensures that a vote would have to be cast in order to remove the bpo from corp hangar. The vote would then require at least 2 people accepting, in order for this to happen.

Keeping you away from director status, means you cannot do anything tricky, like close office, and loot the impounded hangar, etc I believe.

edit: Otherwise, your business definetly looks intriguing, and I may be inclined to throw some isk your way if some security can be established.

Cainam
Hypherians
Posted - 2007.03.28 19:34:00 - [33]
 

Ah, I see how you mean.

This is what is planned for phase 5 of this venture. (When Hypherians, if allowed by the shareholders. sells some or all of the shares.)

The general idea is that Hypherians Capital Production at one point will be completly owned by the public, and thus will have a need for a board of trustees.

Now, for the first 4 parts of this venture I didn't forsee the need for this, and to be honest I didn't think it would be this hard to raise the funds.

Now to the point. As it stands, with your suggestions I'd have to remake this entire venture to accomodate a trustee-board. This is something I am willing to do, but first I must contact my current investors to get this approved.

Secondly I'd have to raise more funds. If I'm going to hold 33% of the shares, the total funds that have to be raised by outside investors would have to be 20b

Thirdly. This might look a bit greedy, but if I'm only allowed a 33% dividend I also would like a "salary" for the work that will be put it to this by me, or that the trustees pull their own weight in a manner of speaking. Wink But hell, we are all in it for the ISK, right!

Another point I'd like to make is that if I will own 33% and 2 other trustees will own 33% each, the corp wouldn't be publicly owned... It would be a small industrial corp with 3 members Razz ... but I guess this was a typo/brainfart.

Finally:

There's only 12 days left to the deadline and frankly it doesn't look like we will hit our target so unless a smaller miracle happens (or someone with a huge wallet drops by) the investors will probably recieve a mail the 10 april along with their funds back.

I won't give up on working along the current model yet, but in case it falls through, and we don't meet the minimum 10b ISK raised I will re-work the entire venture to incorporate a trustee-board.

Now, the only question left is how do we trust the "trustees"? Laughing

I would like to thank Ray McCormack and Ricdic for this suggestion, and should you have further ideas or questions feel free to post again!

Ricdic
Caldari
Caldari Provisions
Posted - 2007.03.29 02:44:00 - [34]
 

Hey mate, you misunderstood a little bit. Dividends and the likes are completely up to you how much you charge/pay/salaries etc.

The only reason the board sits in the corp (2-3 people), is so they ensure the bpo's cannot be stolen. Basically all your isk and finances are yours to do as you wish. As trustee's, the 2-3 guys never do anything really.

It takes a 50%+ vote to unlock a bpo from the corp hangar.If you have 3 trusted people with 33.3%, this means it would require 2 of those 3 to turn to the dark side. Generally one person can turn to scam relatively easily (even with rep), but when you have 2 well known individuals, you find it far less likely.

So really, there would be no remodelling required, except that all production/research etc is done via the corp hangar (should be the case anyway). Obviously , moving the bpo's is where you hit a snag, as they are locked safely away (can stil work on them whilst locked) until the 2/3 people accept the vote.

Hope this clears it up a bit more.

WhitePhantom
Gallente
Edenists
Posted - 2007.04.03 09:39:00 - [35]
 

Now, the only question left is how do we trust the "trustees"?

How about you offer Ricdic or Ray McCormack the job, perhaps since they suggested it, they will help you on this venture. I am interested in this venture, of course I don't have a billion isk let alone but a small investment ( 2-3 shares ).

Will look forward to hearing about the status of the investment fund.






Cainam
Hypherians
Posted - 2007.04.04 03:21:00 - [36]
 

Originally by: WhitePhantom
Now, the only question left is how do we trust the "trustees"?

How about you offer Ricdic or Ray McCormack the job, perhaps since they suggested it, they will help you on this venture. I am interested in this venture, of course I don't have a billion isk let alone but a small investment ( 2-3 shares ).

Will look forward to hearing about the status of the investment fund.




Well, I might ask them or someone else if i can't get this off the ground any other way.

It seems that I might have been a mistake to announce that I would re-form this venture to include a board of trustees since not a single person has invested or contacted me about it since.

Oh well, I guess we'll see what happens. My own affairs is going quite nicely now so I might just run it as private thing on a slightly smaller scale if this investment round fails Wink

Only one week left now, still lots of shares available!



Ezoran DuBlaidd
Native Freshfood
Posted - 2007.04.04 12:39:00 - [37]
 

Originally by: Cainam

It seems that I might have been a mistake to announce that I would re-form this venture to include a board of trustees since not a single person has invested or contacted me about it since.




the secret investors' part lost my interest.

Cainam
Hypherians
Posted - 2007.04.04 20:08:00 - [38]
 

Edited by: Cainam on 04/04/2007 20:17:29
Originally by: Ezoran DuBlaidd

the secret investors' part lost my interest.


There are no "secret" investors. Most of those who has invested has made a post here about it.

However, I really can't publish the names of those who have invested without their consent now can I?

IIRC there's only one person who has invested without making a post about it, and that investment was of a minor nature.

EDIT: After reading the entire topic again I find that there's a few investors that hasn't posted in this thread. All the major investors has posted, and the remaining ones are less or equal to 100m isk.

WhitePhantom
Gallente
Edenists
Posted - 2007.04.04 20:56:00 - [39]
 

I will make an investment, although it will be small, expect it by Friday.

Cainam
Hypherians
Posted - 2007.04.05 23:17:00 - [40]
 

Originally by: WhitePhantom
I will make an investment, although it will be small, expect it by Friday.


Size doesn't matter Wink

Cainam
Hypherians
Posted - 2007.04.10 22:11:00 - [41]
 

Edited by: Cainam on 10/04/2007 22:09:14
Investing round failure


It is my sad duty to inform you all that the Hypherians Capital Productions venture will never reach stage 2.

The fundraising deadline was hit today, and with only ~3b raised we were about 7b short for the project to continue.


I would like to thank those who invested in this venture for putting their faith and their hard-earned ISK in my care.

As of 2007-04-11, 00:02 all investments have been returned to their owners.

Niton Stormrider
Offworld Miners and Fabricators Guild
Rising Orbit Free Trade League
Posted - 2007.04.11 04:08:00 - [42]
 

To all concerned:

With the failure of this IPO, Cainam contacted me, respectfully related the failure of the endeavor, and immediately refunded my investment in full. Throughout the course of this IPO I've maintained a very cordial communication with him, and have found him to be open, well-spoken, and enthusiastic. I am saddened that this venture didn't get off the ground, but based on my experience I would invest with Cainam again! I'd like to see what the man could do with full funding someday.

Niton Stormrider
HCD Mining and Research

Kldraina
Posted - 2007.04.12 02:00:00 - [43]
 

Edited by: Kldraina on 12/04/2007 01:56:38
^ Post above mine sounds way too much like a PR statement Razz

Meh. Just thought I'd report that I did get my money back. Guess I'll sink my cash back into trading, and market speculation. Laughing

Ji Cagimus
The Plexus Research Institute
Posted - 2007.04.12 14:55:00 - [44]
 

I have received all of my initial investment back, as stated by Cainam. I wish him the best any future endeavors.


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