Press Releases for Odinsdagrting [ODNDT].

Monday, July 26, 2010

Odinsdagrting Prospectus

This is the first draft of a partial company prospectus. Documents such as this really shouldn't live in a blog. As soon as I get something more suitable online, I'll move it there.

In the mean time, enjoy.

Summary of Odinsdagrting

Odinsdagrting is a Minmatar/Gallente friendly, publicly-traded, capsuleer corporation. Odinsdagrting currently builds Tech 1 and Tech 2 Gallente rigs, frigates, destroyers, and cruisers. We are in the process of establishing a Gallente and Amarr division. We hope to establish an Minmatar division, too.


Odinsdagrting means, roughly, Wednesday Group. This corporation was formed with Marten Scholen, Tuxtoo, and Fyllyn Dywn. It was formed with former college roommates that I routinely see on Wednesday evenings.

The idea for the corporation itself was one I had since my last publicly-traded venture, Prydwen Technologies Group. This was started in the hopes to getting my friends interested in the Capsuleer lifestyle. Regrettably, it didn't take for them.

I remain around as the remaining initial investor in Odinsdagrting. We have moved from our original home in Alf, Metropolis to Yona, Essence to be closer to the rest of our new alliance, United Trade Syndicate.

Odinsdagrting is now worth just over 3 Billion ISK. It has nearly doubled in size from its initial capitalization of 1.6 Billion ISK. Odinsdagrting remains focused on building Tech 1 and Tech 2 rigs, expanding into frigate, destroyers, and cruisers. In addition to expanding into all four races, we hope to expand into industrials, battlecruisers, barges, and battleships.

Corporate Structure

It is my intention to always maintain a simple majority of stake in the corporation. Having that majority does give me the ability to force through any outcome that I wish in a corporate vote. It is my desire, however, to only use this power in votes that affect the protection of corporate assets, such as blueprint lock downs.

As the corporation continues to grow, I wish to put major purchases to a vote for the stock holders. In these votes, I will abstain.


There are three positions within the corporation

  • CEO

  • Jarl: The Jarls are the chief producers in a given division.

  • Gull Gaeta: Gull Gaetas are the sales associates.

There is nothing that keeps anyone from holding more than one position. I, the CEO, am the Incognito Jarl and Gull Gaeta for Essence. Each of the corporations two other Jarls are also Gull Gaetas for the regions they are based in.


  • Sales: This wallet is the corporate wallet that the Gull Gaetas use to post sell orders. I routinely prune this wallet.

  • Incognito Production: This is currently the only active production division, being run by myself. It is focused on Gallente/Incognito manufacturing and invention.

  • Esoteric Production: This is our newest production division. It will be focused on Caldari/Esoteric production. It is currently being staged by the Esoteric Jarl Nara Wolf.

  • Occult Production: This is our next planned production division. It will be focused on Amarr/Occult production. We have not, yet, even established an office for this division. It will be run by Occult Jarl Lucius Cethion.

Business Plan

Odinsdagrting is focused on manufacturing and selling. We currently focus on Tech 1 and Tech 2 rig manufacturing and invention, currently focusing on Gallente/Incognito rigs. We have expanded in Gallente frigates, destroyers, and cruisers.

Odinsdagrting has acquired the Blueprint Originals for our first Gallente battlecruiser, a limited selection of Gallente industrials (those that have a Tech 2 variant), and all Caldari/Esoteric rigs. We are in the process of establishing the infrastructure to bring these items to market.

Odinsdagrting has plans on expanding into Amarr/Occult rigs and ships, as well as expanding into the complete line of battlecruisers.

Odinsdagrting has a network of sales associates, the Gull Gaetas. This division of regions allows sellers to focus on their own region, without being forced to travel to keep tabs on several regions. This network allows us to easily move stock to several markets.

Odinsdagrting purchases all raw materials from the market or from the spoils of private ventures of corporate members at market prices. Over the three months of April, May, and June 2010, the corporation averaged an 84% return on the manufactured goods it sold.


Odinsdagrting currently has 693,202,660.00 ISK in BPOs and 47,211,703.90 ISK in data interfaces. Over April, May, and June 2010, the corporation has had an average of 323,700,533.45 ISK in Tech 2 BPCs, 184,232,288.43 ISK in invention consumables, 1,175,583,748.59 ISK in manufacturing consumables, and 884,452,897.37 ISK in inventory for sell.

Thursday, July 22, 2010

Odinsdagrting is Expanding

Odinsdagrting has opened the first of two new production offices. This new office will focus on Caldari/Esoteric production and be lead by Jarl Nara Wolf, Gull Gaeta for Jita.

It may still take a few weeks before the new office is spun up completely, but I am excited about this. The capital from this stock offering will be used to fund our planned Amarr/Occult office to be led by Jarl Lucius Cethion, Gull Gaeta for Tash-Murkon Prime.

Saturday, July 10, 2010

Public Stock Offering

Odinsdagrting currently has 3,200 shares of stock with a par value of 500,000.00 ISK. The company has a book value of 3,140,901,752.36, giving each share a book value of 981,531.80. Since there are not active public stock markets in New Eden, there is no clear market value of the stock.

The corporation pays dividends each month equal to 25% of the profit from sales. Since the corporation went public in October 2009, the corporation has paid a total of 648,078.89 in dividends per share.

This means, that any individuals who purchased any of the original 3,200 shares of stock at 500,000 ISK and held on to them, have made back 130% of their original investment and now hold stock with a book value 96% greater than before. The QEN actually shows minor deflation of the same period.

The corporation is offering a second, and final, stock offering. Odinsdagrting will offer up to 4,100 shares of stock to the public at 1,000,000.00 ISK per share. These potential 4,100 shares are in addition to the 3,200 shares already being held and 1,300 shares committed to be sold already during this issuance.

Anyone interested in purchasing stock, please contact me. Please, do not send any money. Just let me know how many shares you would like.

The purchase period will be three weeks. The actual shares will be issued on 2 August 2010. At that time, those that pledged offers to purchase stock will be contacted and arrangements made.

Wednesday, July 7, 2010

Monthly Statement, June 2010

The Good

June saw a gains in hiring. I am now no longer advertising for hiring as I bring the four new Gull Gaeta up to speed.

The boon of this was a rally in corporate sales. We closed June with 1,129,515,745.08 ISK in sales, a lot of that in Tech 2 sales, meaning the return on investment dollars rose to 79.47%.

After paying out 272,676,424.61 ISK in commissions, and 189,706,880.00 ISK in dividends (59,283.40 ISK per share, or 11.86% of par value), the corporation netted 379,413,748.32 ISK.

The Bad

I've been dreading publishing this statement. The good news is very good, but at the end of the month, the bad news is just worse.

The corporation only grew by 1.75%. Given the strength of the sales, I would've expected a growth of 12.29%. The corporation is 326,450,073.90 ISK shy of that.

I've started cutting into the profit margins of sales to compensate for broker's fees and sales tax. The problem is, we have over one billion ISK in inventory. A lot of that is posted in sales orders. The broker's fees for that haven't been taken into consideration.

I've also purchased some researched BPOs. While I pay extra for these, I only count the base price of the BPO when calculating the value of corporate assets. As a result, there is some loss when those purchases are written down to base prices.

The What I'm Too Busy To Do

I have several spreadsheets that I use to run the corporation. They are getting cumbersome and are slowing me down. They are also unable to track everything, and so the corporation has leaks. I want to put together a solid PHP application that will let me track build orders and sales inventories and will interface with the Eve API.

Regrettably, I'm too busy keeping things running to build stuff to make things run smoother. Sometimes I feel like I'm too busy making money to spend it.