| Author |
Topic |
Stins
Interstellar Starbase Syndicate Operations
|
Posted - 2007.06.02 15:43:00 - [ 1]
In May, ISS earned just over 21 billion ISK which is a 7,4% return on capital.. Profits came from interest on loans, dividends on ventures, and t2 ship construction. The shopping baskets broke even, since t2 module prices have declined of late.
Of the 7,4 percent profits, the shareholders receive the first 5. The players who directly manage the fund receive the next percentile. ISS receives the last 1,4. This is the first time since the fund was created that the managers have earned any management fees.
In June we anticipate earning over 10% on capital, assuming no big changes on the market.
Balance Sheet
-------------
Assets
21214 shares in wallet
105,1 bn ISK loans
94,2 bn ISK industrial assets (BPOs, inventory, POS)
6,74 bn ISK trade assets/market orders
38,2 bn ISK shopping baskets
43,76 bn ISK cash
----------
288 bill ISK
Liabilities
28786 shares outstanding
10 Misk per share IPO price
------------
288 bill ISK |
Treelox
Amarr
Evolution
IT Alliance |
Posted - 2007.06.02 16:38:00 - [ 2]
 Originally by: Stins
43,76 bn ISK cash
Is this a normal average of cash in the wallet? or was this number gathered during a snapshot of the wallet durning a very liquid stage on the reselling cycle? |
Roemy Schneider
Vanishing Point. |
Posted - 2007.06.02 22:28:00 - [ 3]
21/288=7,29% which means you just reduced the value of ISSO - n1
and, yeah, i always wondered why you issue dividends in those 12.5 tranches with a ~40bil pot at hand.
"This is the first time since the fund was created that the managers have earned any management fees." - so... you never made 6% in any of the 5 month (+1 when ISSO got started)?
and do you still hand out loans to ISS members (corps) aka outsourcing profitable ISS ventures for a plain 10% interest? |
Shadarle |
Posted - 2007.06.02 23:20:00 - [ 4]
Originally by: Roemy Schneider
and, yeah, i always wondered why you issue dividends in those 12.5 tranches with a ~40bil pot at hand.
I've wondered this as well. As to the rest, I'm glad to hear profits are raising now. Looking forward to possibly getting more than 5%  |
Kasumi Kreig
Caldari
Perkone
|
Posted - 2007.06.03 22:24:00 - [ 5]
Edited by: Kasumi Kreig on 03/06/2007 22:25:22 Originally by: Roemy Schneider
21/288=7,29% which means you just reduced the value of ISSO - n1
Based on this, shouldn't the value of the shares just dropped over 7%? Seems to me that the fair market value of ISSO is now 8797000 ISK/share. And more scarily, the return to shareholders is only 5%. FIN-U is offering 7.8%. Based on that, maybe the low buy orders of 7.3M/share for ISSO are closer to fair. |
Shadarle |
Posted - 2007.06.04 00:34:00 - [ 6]
Originally by: Kasumi Kreig
Edited by: Kasumi Kreig on 03/06/2007 22:25:22
Originally by: Roemy Schneider
21/288=7,29% which means you just reduced the value of ISSO - n1
Based on this, shouldn't the value of the shares just dropped over 7%? Seems to me that the fair market value of ISSO is now 8797000 ISK/share. And more scarily, the return to shareholders is only 5%. FIN-U is offering 7.8%. Based on that, maybe the low buy orders of 7.3M/share for ISSO are closer to fair.
It is a guaranteed 5% though. Is Fin-U promising 7.8% minimum dividends? And this report states that they are expecting profits to go above 10% next month which means that it may be in the 6-7 or higher range. |
Sales Merchant |
Posted - 2007.06.04 09:06:00 - [ 7]
Originally by: Shadarle
It is a guaranteed 5% though. Is Fin-U promising 7.8% minimum dividends? And this report states that they are expecting profits to go above 10% next month which means that it may be in the 6-7 or higher range.
I'll only believe it when i see it. It's been 6 months scraping the bottom of the barrel on minimum 5% payouts which is an insult to investors and suprising for an organisation capable of so much more considering thier past accomplishments and the sheer amount of isk made availble to them in this IPO. |
Nyphur
Pillowsoft
Total Comfort |
Posted - 2007.06.06 05:42:00 - [ 8]
Originally by: Sales Merchant
Originally by: Shadarle
It is a guaranteed 5% though. Is Fin-U promising 7.8% minimum dividends? And this report states that they are expecting profits to go above 10% next month which means that it may be in the 6-7 or higher range.
I'll only believe it when i see it. It's been 6 months scraping the bottom of the barrel on minimum 5% payouts which is an insult to investors and suprising for an organisation capable of so much more considering thier past accomplishments and the sheer amount of isk made availble to them in this IPO.
An insult to investors? It's right there in the business plan, if investors fail to understand that plan then they insult themselves. The first 5% profit generated goes to dividends. The next 5% (between the 5% and 10% profit marks) goes to ISSO management. Anything further goes into venture capital to be used on high-risk high-yield projects that MAY add to investor's dividends and value of shares. There were never any promises of over 5% monthly interest from ISSO and they are performing exactly as expected. That is, by no definition of the term, scraping the bottom of the barrel. |
Ehrine Ashbark
Lyrus Associates
The Star Fraction |
Posted - 2007.06.07 10:54:00 - [ 9]
Originally by: Roemy Schneider
and, yeah, i always wondered why you issue dividends in those 12.5 tranches with a ~40bil pot at hand.
Eve will not let you pay a dividend of more then 12.5bn isk. As a result the dividend has to be paid out of multiple dividend payments which add up to the correct total. |
Ferrosa
Clown Punchers.
Clown Punchers Syndicate |
Posted - 2007.06.07 22:51:00 - [ 10]
Originally by: Ehrine Ashbark
Originally by: Roemy Schneider
and, yeah, i always wondered why you issue dividends in those 12.5 tranches with a ~40bil pot at hand.
Eve will not let you pay a dividend of more then 12.5bn isk. As a result the dividend has to be paid out of multiple dividend payments which add up to the correct total.
This is because they used 32-bit values for the dividend payout, which has a maximum value of 2^15-1 = 2.17B or something like that. Which means you can only pay out max dividends of 2.17B ISK per time. |
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