Odinsdagrting has opened its own forums. This truly focused at corp members, alliance mates, and shareholders, but there is a general forum for anyone wishing to strike up a conversation with any of us.
Monthly statements and other major announcements will still be made here.
Sunday, August 22, 2010
Monday, August 9, 2010
An Interesting Bug
When looking at the corporate information for Odinsdagrting, it says there are 4,140 shares. In all actuality, there are 7,340 shares. That is confirmed when I look at the the corporate wallet. Not only can I see all the shares, I can see who holds them.
4,140 is merely the number of shares that were created recently.
4,140 is merely the number of shares that were created recently.
Sunday, August 1, 2010
Monthly Statement, July 2010
This is the first month of contraction, with the corporation losing 920,845.47 ISK. Since the corporation should've grown by 134,787,808.00 ISK, this represents a total loss of 135,708,653.47 ISK.
Inventions did not go well, overall, during July. They resulted in a total loss of 108,359,713.91 ISK. Among the failed jobs were nine attempts to invent Hulk BPCs. Together, they totaled a loss of 163,481,664.96 ISK. That means that the inventions done outside of this were actually profitable.
The loss in inventions does not cover the entire shortfall. That leaves an unaccounted shortfall of 27,348,939.56 ISK.
We opened a new office this month (actually three, two of which we closed). This was 12,370,269.00 ISK in expenses that were not planned on last month's balance sheet and reflect as a loss on this month's.
After all of this, we still have 14,978,670.56 ISK unaccounted for. I am tightening the wallet, but I simply need better tools.
July saw our public stock offering. That actually consumed quite a bit of my time. While I did get to look over such tools as Eve Commander, I really didn't get to dive into a good solution.
I also didn't get to keep production in my division on the pace that I would've liked to. That led to sales not being as strong as I would've liked.
One of our new Gull Gaetas has been unavailable, yet, to begin posting sale orders in his region. The previous Gull Gaeta for that region pulled out, meaning we lost a region this month.
We also had a couple of war declarations this month. While we had no corporate losses, we did have a Gull Geata temporarily leave the corporation. His orders were canceled when he left. That region was not served for nearly two weeks. He has returned, and his orders have been reposted.
While sales were not as strong as I think they could've been, they did cross the billion ISK mark at 1,083,037,584.55 ISK in gross sales. Our net sales was actually quite handsome at 523,143,660.68 ISK.
This lead to a dividend of 42,121.19 ISK per share. While I don't consider that horrible, it is the lowest dividend we have had. Mind you, this was not the worst sales month we've had, but it is the slowest month we've had with our new commission structure.
I will go ahead and put out a warning for August. It will not be as strong a month as I will like. The new capital will be on the books, but we won't be able to apply it all by the end of the month. Since our new Caldari/Esoteric division is coming online this week, I do expect our sales to be stronger in August than they were in July. However, I don't expect them to grow at the same rate that the company will with this huge infusion of capital.
I hope that we can return to somewhere around 50,000.00 ISK per share dividends by the end of October.
The total company value at the close of July is 3,139,980,906.89 ISK. The current book value of a single share in the company is 981,244.03 ISK.
Inventions did not go well, overall, during July. They resulted in a total loss of 108,359,713.91 ISK. Among the failed jobs were nine attempts to invent Hulk BPCs. Together, they totaled a loss of 163,481,664.96 ISK. That means that the inventions done outside of this were actually profitable.
The loss in inventions does not cover the entire shortfall. That leaves an unaccounted shortfall of 27,348,939.56 ISK.
We opened a new office this month (actually three, two of which we closed). This was 12,370,269.00 ISK in expenses that were not planned on last month's balance sheet and reflect as a loss on this month's.
After all of this, we still have 14,978,670.56 ISK unaccounted for. I am tightening the wallet, but I simply need better tools.
July saw our public stock offering. That actually consumed quite a bit of my time. While I did get to look over such tools as Eve Commander, I really didn't get to dive into a good solution.
I also didn't get to keep production in my division on the pace that I would've liked to. That led to sales not being as strong as I would've liked.
One of our new Gull Gaetas has been unavailable, yet, to begin posting sale orders in his region. The previous Gull Gaeta for that region pulled out, meaning we lost a region this month.
We also had a couple of war declarations this month. While we had no corporate losses, we did have a Gull Geata temporarily leave the corporation. His orders were canceled when he left. That region was not served for nearly two weeks. He has returned, and his orders have been reposted.
While sales were not as strong as I think they could've been, they did cross the billion ISK mark at 1,083,037,584.55 ISK in gross sales. Our net sales was actually quite handsome at 523,143,660.68 ISK.
This lead to a dividend of 42,121.19 ISK per share. While I don't consider that horrible, it is the lowest dividend we have had. Mind you, this was not the worst sales month we've had, but it is the slowest month we've had with our new commission structure.
I will go ahead and put out a warning for August. It will not be as strong a month as I will like. The new capital will be on the books, but we won't be able to apply it all by the end of the month. Since our new Caldari/Esoteric division is coming online this week, I do expect our sales to be stronger in August than they were in July. However, I don't expect them to grow at the same rate that the company will with this huge infusion of capital.
I hope that we can return to somewhere around 50,000.00 ISK per share dividends by the end of October.
The total company value at the close of July is 3,139,980,906.89 ISK. The current book value of a single share in the company is 981,244.03 ISK.
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.
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.
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
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.
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.
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.
Background
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.
Positions
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.
Divisions
- 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.
Assets
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.
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.
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.
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.
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