open All Channels
seplocked Market Discussions
blankseplocked Liberty Eternal full Performance Audit ref: GFTTIXXBO052
 
This thread is older than 90 days and has been locked due to inactivity.


 
Pages: 1 [2] 3

Author Topic

Liberty Eternal
Posted - 2011.03.08 03:27:00 - [31]
 

Originally by: Misty McGinnity
tbh, i wouldn't let that nerd (varo jen)go anywhere near your accounts.

he is all over Brock's thread whilst ignoring you & this audit.

What does that tell you? hes too busy being a butthurt nerd, than helping you out.

--> get another auditer or better yet don't bother with it, you started already so who cares.


Calling someone a nerd is a compliment, not an insult Wink

Varo evemailed me an hour ago and he is looking into some software problems. I've made a contractual commitment to my investors regarding the audit and one or two delays aren't a major issue as long as we get there in the end.

Misty McGinnity
Mystify Trading Company
Posted - 2011.03.08 03:45:00 - [32]
 

contractual?, lighten up champ its a video game Rolling Eyes

i said "Butthurt nerd", big difference.

Misty McGinnity
Mystify Trading Company
Posted - 2011.03.10 05:51:00 - [33]
 

so hows that contractual agreement coming along?

has vero jen put his head in the sand?

Liberty Eternal
Posted - 2011.03.10 05:56:00 - [34]
 

Originally by: Misty McGinnity
so hows that contractual agreement coming along?

has vero jen put his head in the sand?


You're very keen for someone who doesn't like audits Wink Are you secretly angling for a job as an auditor?

Misty McGinnity
Mystify Trading Company
Posted - 2011.03.10 05:58:00 - [35]
 

Originally by: Liberty Eternal
Originally by: Misty McGinnity
so hows that contractual agreement coming along?

has vero jen put his head in the sand?


You're very keen for someone who doesn't like audits Wink Are you secretly angling for a job as an auditor?


nope just trolling our mate ;0

Krythas
Posted - 2011.03.10 06:01:00 - [36]
 

Originally by: Misty McGinnity
so hows that contractual agreement coming along?

has vero jen put his head in the sand?

OMG ! He's an emu now ??

You and your Aussie pets !

Misty McGinnity
Mystify Trading Company
Posted - 2011.03.11 01:09:00 - [37]
 

Edited by: Misty McGinnity on 11/03/2011 01:11:02
Originally by: Misty McGinnity
so hows that contractual agreement coming along?

has vero jen put his head in the sand?


breaker was "contracted" later then vero & has finished his audit here: Linkage

suggest you use him, this vero jeb guy is too slow imo.

edit: & it only cost 200m not the forementioned 1b

Misty McGinnity
Mystify Trading Company
Posted - 2011.03.14 00:27:00 - [38]
 

bump still no "contractual" audit.

is this happening or not?

Liberty Eternal
Posted - 2011.03.14 00:30:00 - [39]
 

Dear Varo, it seems that you don't enjoy auditing me the way you used to. Just recently, you've hardly been communicating with me at all - I'm worried about the bond, I need you around to help me raise it. The investors miss you, we hope that whatever you're doing, it makes you happy. If you're going to leave, I'll have to move on and try to find someone else - please don't be hurt. I hope you think of me - we can make this work, but we need to communicate more so I know where our [business] relationship is heading.

Yours,

Liberty

Tutskii
Posted - 2011.03.14 00:34:00 - [40]
 

Hey Liberty, I heard Varo hasn't been over in a while and well..

I have a couch if you need it my friend, just until you pull yourself together. I know how this is and I just want to tell you that I'm here for you. We'll hit the chats and find you a nice auditor, you'll see.

You're too good for him anyway.

-Tutskii

Misty McGinnity
Mystify Trading Company
Posted - 2011.03.14 00:40:00 - [41]
 

Troll win

Flawless victory!

Companion Qube
Minmatar
Electron Conservation Inc
SRS.
Posted - 2011.03.14 06:21:00 - [42]
 

Does anyone else find it terribly interesting that "John Galt" is providing the lion's share of the investment funds? I mean, seriously, did none of you put 2 and 2 together?

Thoraemond
Minmatar
Far Ranger
Posted - 2011.03.14 06:55:00 - [43]
 

Originally by: Companion Qube
Does anyone else find it terribly interesting that "John Galt" is providing the lion's share of the investment funds? I mean, seriously, did none of you put 2 and 2 together?

Who is John Galt?

Misty McGinnity
Mystify Trading Company
Posted - 2011.03.14 06:56:00 - [44]
 

let me google that for you .jpg


Thoraemond
Minmatar
Far Ranger
Posted - 2011.03.14 07:08:00 - [45]
 

Originally by: Misty McGinnity
let me google that for you .jpg

I take it you missed the link in my post?

Misty McGinnity
Mystify Trading Company
Posted - 2011.03.14 07:16:00 - [46]
 

ah huh, i see you have hidden a link behind an obscure ASCII symbol.

do you feel clever now or more nerdish?


Cyaxares II
Posted - 2011.03.14 07:34:00 - [47]
 

Edited by: Cyaxares II on 14/03/2011 07:40:29
Originally by: Companion Qube
Does anyone else find it terribly interesting that "John Galt" is providing the lion's share of the investment funds? I mean, seriously, did none of you put 2 and 2 together?

If Liberty got an alt in TTI, he has to post his answers to the application questionnaires asap for great lulz.

edit: couldn't find the questionnaire on their site, so here it is.

Petyr Baelich
Valar Morghulis.
Get Off My Lawn
Posted - 2011.03.14 08:15:00 - [48]
 

Originally by: Cyaxares II
Edited by: Cyaxares II on 14/03/2011 07:40:29
Originally by: Companion Qube
Does anyone else find it terribly interesting that "John Galt" is providing the lion's share of the investment funds? I mean, seriously, did none of you put 2 and 2 together?

If Liberty got an alt in TTI, he has to post his answers to the application questionnaires asap for great lulz.

edit: couldn't find the questionnaire on their site, so here it is.


You have to click on the "apply now" button and it sends that to you. App works well for filtering the people they want in their corp, as all apps should. TTI is one of the oldest corps in EVE, going strong since day 1 of beta.

For what it's worth I know both LE and JG and they're not the same person. LE hasn't even applied to TTI, (although he's a frequent guest in their public channel) as far as I know and I still run their website/forums so I see all apps.


Alain Kinsella
Minmatar
Posted - 2011.03.16 02:28:00 - [49]
 

Originally by: Petyr Baelich

You have to click on the "apply now" button and it sends that to you. App works well for filtering the people they want in their corp, as all apps should. TTI is one of the oldest corps in EVE, going strong since day 1 of beta.



Actually that's an impressive questionnaire, which I've now bookmarked. Reminded me of a similar one our old GM asked us to submit with new characters (It gave him guidance on what he could do to play with each character's morals, as well as get a good idea when each other's will clash).


Back on topic, wanted to wish LE luck on the latest venture. Always nice to see different methodologies work out - even if I don't agree with parts.

Liberty Eternal
Posted - 2011.03.16 19:13:00 - [50]
 

Edited by: Liberty Eternal on 03/04/2011 21:14:37
Edited by: Liberty Eternal on 16/03/2011 19:26:35
Edited by: Liberty Eternal on 16/03/2011 19:26:00
Thanks Alain.

John Galt has been in the game since Beta, he's not my alt.


Just an update on the performance audit - for private reasons Varo Jan has been unable to complete the audit. I've spoken to him and we decided to cancel the audit contract - Varo has returned all my isk and even a little bit extra as a gooodwill gesture, so I thank him for that.

I'm going to seek a performance audit with another auditor. Given how busy VV is and the almost complete lack of qualified auditors, I think realistically it may be April/May before it is actually up on the thread. I will keep my investors updated and update the thread when relevant. Please be patient! Unfortunately this is just one of those things Sad

Finally, I'd just like to say that it was not Varo's [or anyone's] fault. I still have confidence in VJ and will be happy to use him as an auditor again in the future just as soon as he is able to again.
--------------------------------------------------

Edit: Completed char sale

Liberty Eternal
Posted - 2011.04.04 23:24:00 - [51]
 

All interest has been paid to investors.

I'm currently reviewing accounting methodology with a view to improving it, both in terms of data presentation and accuracy. This may lead to a slight delay in getting the figures up but I think the improvement will be worth it.

Company report will follow after the accounts are up.

Strrog
Caldari
Zero Excavations
Posted - 2011.04.05 06:13:00 - [52]
 

Sorry i think i reported this thread by mistake lmao, attn moderators do not do anything here.

Just wanted to confirm the interest recieved of 300 mill.

Liberty Eternal
Posted - 2011.04.05 22:19:00 - [53]
 

Thank-you for confirming Strrog. Just as a side-note, I would have liked John Galt to confirm the large interest sum paid, however he is away on basic army training so I don't think he will be able to.


As noted above, I've been reviewing my accounts to improve them and make them more accurate. Making accurate accounts is more challenging than one might think, so here are my notes for improvement so far:


Improvements and changes in account system -


1) I'm moving to a monthly calendar account system for my trading accounts. This will be easier to write-up, more accurate and historically verifiable and consistent because I can check more easily through EVEWalletAware history if I just divide into calendar months. I currently take the accounts at intervals set by the interest payment dates - ie 4th Feb-4th March, etc - this is needlessly confusing, particularly as I sometimes took the data half-way through the day, chopping off some of the transactions and thus throwing the figures.


2) I will be combining all data from 4 EVEWalletAware data stores - Liberty's personal journal, Free Market Blue Team and two account alts, to give a combined figure. This will be easier to do on a calendar basis, and I will put up historical records of the trading accounts for reference. I previously left out some of the smaller figures for speed - I will now include them all for accuracy.


3) I will give separate Main accounts and Trade accounts from now on. I previously tried to combine them in different ways but this is virtually impossible because NAV statements are taken in a different way, at a different time, and to a lower degree of accuracy than trading figures.

Non-trade Expenses and contract trades will be placed on the Main accounts. Final figures for expenses and turnover will be given on the Main accounts.


4) All profit figures from now on will be given only as NAV increase. "Trading profit" is unreliable and impossible to calculate accurately because I can't take historical NAV statements with complete accuracy. I will no longer be trying to give a figure for "trading profit"


5) I will introduce some performance statistics to allow analysis of the business and weak/strong points that may be of interest. These will be tax/fees, number of markets traded in, Capital employed, profitability, order spaces utilised. I will add or remove performance statistics depending on how things work out.


The main change is the movement to a calendar/monthyl system - this creates a little data crossover but will make things easier from now on. Very Happy

Liberty Eternal
Posted - 2011.04.05 22:24:00 - [54]
 

Trading Accounts for March 2011. Covers March 1st to March 31st 2011, source EVEWalletaware.


Notes: For this month's figures [ie March] several days of trading at the beginning of the month are be included that were also included in the last bond.

In addition, several days of trading that have so far occurred in April will not be put on to the trading accounts until April's figures are put up next month. It's just a lot easier to do it this way, and it makes historical comparison/accuracy a lot easier as well.


Trade Purchases 126,608,875,767 isk

Trade Sales 129,999,086,711 isk


Balance +3,390,210,943



This is the tradng figure for the month of March and it includes all market transactions undertaken and includes my two alts and alt corporation.

Please note that the trading balance does not really mean a lot, it is included for reference.

Liberty Eternal
Posted - 2011.04.05 23:20:00 - [55]
 

Edited by: Liberty Eternal on 05/04/2011 23:22:56


Main Accounts for month of March

Covers March 1st to March 31st 2011. Sources: EVEWalletAware and Tranquility Server [wallet journal, contract history].


Expenses


Non-Trade Expenses

PLEX for Japan [4 PLEX + 200mil] 1,628,000,000
Level 5 Personal Learning Implants 537,570,000
PLEX for account subscription 349,900,000
Character Transfer costs [2PLEX] 700,000,000
Character Value write-down 400,000,000
Loan Interest Payments 2,350,000,000

Total Non-Trade Expenses 5,965,470,000


Trade Expenses

Trade Purchases 126,608,875,767 isk
Contract - Item Purchases 129,976,000 [70 mil of which sent through player donation]
Contract - Fees and Rewards 3,019,800
Broker's Fees 345,860,934
Sales Tax 95,059,607

Total Trade Expenses 127,182,792,100


Total Expenses for March 133,148,262,100


Income


Non-Trade Income

Character Sale 2,600,000,000
Audit Fee Refund & Goodwill Payment - 1,100,000,000
Small loan interest - 10,000,000

Total Non-Trade Income - 3,710,000,000


Trade Income

Trade Sales 129,999,086,711

Total Trade Income 129,999,086,711


Total Income 133,709,086,711


Net Profit 560,824,000

Liberty Eternal
Posted - 2011.04.06 00:11:00 - [56]
 

NAV Statement at 00:01 GMT on April 6th 2011.

Source: Tranquility Server, Wallet and Item box data, EVEboard - will update stock values when EVEcommander account is reactivated


Active Assets

Cash 10,016,945,852
Market Escrow 10,015,109,840
Sell Orders 9,508,222,128
Stock for Trade 3,000,000,000 [nominal estimate]
Personal Ships 1,500,000

Net Asset Value - 32,541,777,820


NAV Increase from last NAV statement [exc loan]

NAV figure for net proft 1,000,000,000


Liabilities

Loans due at bond end 16,000,000,000
Interest Liabilities due by bond end 4,800,000,000
Plex due by bond end [2 units] 700,000,000 [est]
Audit fees due by bond end 1,500,000,000 [est]

Total liabilities due by bond end 23,000,000,000


Current NAV minus Liabilities 9,541,777,820


Note on Passive Assets [not counted as NAV]

Character Value Liberty Eternal [nominal; will never be sold] 3,475,853,750
Implants plugged in 150,000,000 [est]
Implants waiting to be plugged in 537,570,000
Non-trade stockpiles [ie dispersed] 200,000,000 [est]
Skill book value [injected] source: Eveboard 312,279,500

Passive Assets Total 4,675,703,250

Liberty Eternal
Posted - 2011.04.06 00:25:00 - [57]
 

Ok - the nerd-binge is over. I will put the account history data up next month as there is enough info up for now. This will just be a brief summary of historical data, but re-formatted for a calendar-monthly history.

Same goes with the performance stats - main thing is that the format change went ok this month, I'll develop it and hopefully find a way to summarise and reduce the info for next month.


Company Report


Trade performance this month was average. Mainly because I took about a two-week break from trading to avoid burnout. I was hoping to take a two-week break between bonds but this one got started with a life of its own so I missed the chance. There was also the bond changeover which always slows down trading for about a week.

Thus, trading was slow for the month as a whole. Trade turnover was 6 billion less than for February. Gross profits [which I now realise there is no figure for Rolling Eyes ] were only around 6 billion for the month.

This would have been ok, but there were uusual expenses this month - 1.6bil plex for japan, 500 mil for lvl 5 trading implants, a 1.1 billion expense and write-down for the sale of Maximus Kentai, and finally loan interest jumped up to 2.35 due to the larger bond value.


Additional Investor for 1 billion isk

I've taken on an additional investor for 1 billion isk, taking the bond value up to 16 bil. Hian Yammamotto is the investor, a friend from in-game who was looking for an investment on MD. I couldn't find a good one that was available so took the isk myself as it was a friend and only 1 billion. Hian's interest conditions are the same as everyone else's, except that this month only 10% was paid instead of 15% due to late entry.

Next Month

I've been experimenting and improving my trade system and next month I hope to see an increase in turnover, hopefully a large increase in trading profits and a massive reduction in expenses. This should combine to boost my NAV by 5-10 billion if all goes well.

Saidin Thor
Posted - 2011.04.06 00:40:00 - [58]
 

Also confirming interest payment for this month.

Saidin Thor
Posted - 2011.05.02 00:01:00 - [59]
 

Confirming receipt of interest for the month of April.

Strrog
Caldari
Zero Excavations
Posted - 2011.05.03 03:47:00 - [60]
 

confirming 300 mill interest received

Also would like to bring to attention that previous thread ID did not work had to find the thread manually and update link to the thread.

cheers


Pages: 1 [2] 3

This thread is older than 90 days and has been locked due to inactivity.


 


The new forums are live

Please adjust your bookmarks to https://forums.eveonline.com

These forums are archived and read-only