Consulting
Snapshot audit report for RAW23 business proposal
This is Vaerah Vahrokha’s analysis as of 2011-02-10 20:00 EvE Time.
NEISIN code: MRBHDYZBO078.
Official discussion: link to investment prospectus.
Public Audits Record (PAR) for this investment: backlink.
Tools used
EvE Wallet Aware
jEveAssets
EvEMeep
EvEMon
NEISIN
Microsoft™ Excel®
Blender 3D => LuxRender
Paint.NET => Bolt Bait Pack, DPY Plugins, MadJik Pack, Vandermotten Effects
Forewords about the Audit
RAW23 is an high sec trader but also a manufacturer and much else. Through a series of bonds (this is the 7th) he managed to grow a sensible NAV for a 2009 player. He has asked for a snapshot of his salient data and requested a report about some specific informations.
Generalities
Main character for this proposal is RAW23. RAW23 has executed an aggressive characters purchasing strategy so that he currently owns six accounts. He has got 18 characters at hand, most of them handpicked with task oriented training, some have a noticeable amount of skill points. Among the various characters, there are skills for basically everything, often in multiple copies. Through his alts, RAW23 may manufacture big time and operate with almost any kind of science and industry. He has also multiple characters for trading, hauling (including Jump Freighters), PvP, PvE (multiple factions), explore… usually in multiple instances of each specialty.
RAW23, is an August 2009 character with just 663,913 SP. This is because RAW23 is the character that has become known on the forums, the “public face”. Other characters are quite more developed. One of them is an Apr 2005 one and has 51.6M SP, many of the others range from 25M to 33M.
The total SP of all his characters at the time of the data snapshot was: 301,486,852 (301M).
Characters’ history check
RAW23 requested an in depth characters’ history check.
Here are the findings:
- Total amount of post checked, one by one: 2586.
- Most of the characters have a sizable employment history and have been bought in the Character Bazaar.
- RAW has a copious history of posts in that forum (using other alts, some disclosed in his bonds). They are all about buying characters, not selling.
- One of the characters has been bought and sold at least two times before ending in RAW23 possession.
- Out of all the characters purchases, all may be easily tracked to RAW23 (using one of the other alts) except three:
- In one of them, he states he purchased a character with an alt he biomassed later (thus leaving no direct tracks).
- Two other purchases appear to be made with characters he does not own. He spent a good deal of time explaining the intricacies of his business partnerships that seem to also include characters purchases on behalf of others. There are also some small donations to said player. While the explanation sounded convincing enough, there’s no proof nor written record that allow to precisely track the missing links.
NAV and accounting
RAW23 business includes the most diverse activities, including loans and collateral holding. Thus a straight and automatic NAV calculation has not been possible. RAW23 has also asked for some additional entries to be included.
Therefore a manual approach has been used, where entries have been API checked (where applicable) and categorized as follows:
- Characters value
- Credits => Investment securities
- Credits => Interest receivable
- Liabilities => Loans payable
- Liabilities => Interest payable
- Collateral kept
- Donations => Equity transactions
- Wallets values less the values held for third parties
- Assets values less the values of the assets held as collateral
- Net Asset Value
As it’s possible to see, what follows is a number of accounts that at the end of the document are consolidated into the final NAV statement.
Characters value
As per RAW23 request, since he considers his characters as something quantifiable (he purchased them), the total SP has been calculated and given an ISK value with his own formula:
Value = SP * 250.
The total SP at the time of the data snapshot was: 301,486,852 (301M).
The total value is: 75,371,713,000 (75.371B).
Credits => Investment securities
These are outstanding credits to be paid to RAW23.
Entries with links point to the relevant investment thread.
| 1">audit-record" style="text-align: left;" colspan="3">Cash | ||
|---|---|---|
| Lauren Hellfury | 0.100 | B |
| Kei darker | 2.000 | B |
| Arcy Dorei | 0.500 | B |
| Undisclosed (*) | 7.000 | B |
| Mickov Brat | 4.000 | B |
| Undisclosed (*) | 0.500 | B |
| Undisclosed (*) | 7.500 | B |
| Undisclosed (*) | 0.800 | B |
| Mechtech | 9.000 | B |
| Loan to an undisclosed corporation (*) | 35.000 | B |
| Total: | 66.400 | B |
(*) Confirmed with in game inquiry or API check.
Credits => Interest receivable
These are outstanding credits interests to be paid to RAW23.
Only published investments and API verificable transactions were included.
Total interest receivable: 1.380B.
Liabilities => Loans payable
These are outstanding loans RAW23 has to pay:
| 1">audit-record" style="text-align: left;" colspan="3">Cash | ||
|---|---|---|
| Flakeys, Krythas, Martosh Toma | 20.000 | B |
| Flakeys | 20.000 | B |
| Total: | 40.000 | B |
Liabilities => Interest payable
These are outstanding credits interests to be paid to RAW23.
Only published investments and API verificable transactions were included.
Total interest receivable: 1.200B.
Collateral Kept
For privacy reasons the exact assets names and locations won’t be disclosed. They have been verified with API and / or contract. Collateral will not be added to the final balance sheet as it’s not a real RAW23 possession.
| 1">audit-record" style="text-align: left;" colspan="3">Assets | ||
|---|---|---|
| Blueprints | 27.805 | B |
| Collateral made of speculative items | 17.440 | B |
| Miscellaneous collateral kept in containers | 3.234 | B |
| Total: | 48.479 | B |
Donations => Equity transactions
These would figure as liabilities.
| 1">audit-record" style="text-align: left;" colspan="3">Cash | ||
|---|---|---|
| Undisclosed (*) | 0.500 | B |
| Undisclosed (*) | 1.000 | B |
| Vahrokh’s Ethical Fund of Funds [MRVAHFTFF016] | 0.100 | B |
| Total: | 1.600 | B |
(*) Confirmed with in game inquiry or API check.
Assets and balance
These are the RAW23 possessions, excluding all of the other accounts listed in the previous chapters.
In previous audits, this chapter is usually called “Net Asset Value and other balance considerations”, while in RAW23 case his total assets are just an account among several others.
| 1">audit-record" style="text-align: left;" colspan="3">Balance | ||
|---|---|---|
| Wallet balance: | 8.717 | B |
| Market sell-orders: | 1.458 | B |
| Market escrow: | 0.671 | B |
| Contracts: | 0.000 | B |
| Total (*): | 10.846 | B |
| 1">audit-record" style="text-align: left;" colspan="3">Assets | ||
|---|---|---|
| Miscellaneous U.S.B.A. (*): | 3.657 | B |
| Fleet / ships (unfitted): | 3.834 | B |
| Modules: | 1.869 | B |
| Misc. solid assets; minerals, salvage, ice etc.: | 59.118 | B |
| Blueprint originals: | 2.582 | B |
| 1985 Blueprint copies (**): | 1.773 | B |
Other | ||
| Accessories: | 3.276 | B |
| Charges: | 0.114 | B |
| Commodities: | 0.439 | B |
| Drones: | 0.021 | B |
| Ordered assets under construction: | 0.000 | B |
| Planetary items or resources: | 37.638 | B |
| Ship components: | 0.000 | B |
| General or classified items: | 21.134 | B |
| Total: | 135.455 | B |
Estimated assets and balance grand total: 146.301 Billion ISK (***)
The above evaluations were made by using The Forge prices as reference.
(*) U.B.S.A. => Undisclosed Business Strategic Assets.
(**) 1985 blueprint copies: 78 BPC types were manually searched on contracts and priced with the conservative formula: (Max + Min) * 100 / 205 unless they only had one item or all same price items.
(***) The Forge prices have been used.
NAV (Net Asset Value)
This is the sum of all the previous balances. It is:
NAV = Assets – Liabilities.
| 1">audit-record" style="text-align: left;" colspan="3">Assets | ||
|---|---|---|
| Cash and cash equivalents | 10.846 | B |
| Note receivable | 0.000 | B |
| Investment securities | 66.400 | B |
| Interest receivable | 1.380 | B |
| Due from other funds | 0.000 | B |
| Inventory, personal assets | 135.455 | B |
| Inventory, characters | 75.371 | B |
| Total Assets | 289.452 | B |
| ||
| Liabilities | ||
| Note payable | 0.000 | B |
| Loans payable, net | 40.000 | B |
| Interest payable | 1.200 | B |
| Equity transactions | 1.600 | B |
| Refundable advances | 0.000 | B |
| Total Liabilities | 42.800 | B |
| ||
| Net Asset Value: | 246.652 | B |
Disclaimers
Due to stringent EvE API limitations, although the information provided to you on this document is obtained or compiled from sources believed to be reliable, Vahrokh Consulting cannot and does not guarantee the accuracy, validity, timeliness, or completeness of any information or data made available to you for any particular purpose.
This Auditor is actively and passionately against any breach of privacy, in particular regarding in game mail API access. Therefore no information will ever be gathered and no audit will ever be released that will contain any element found by eavesdropping someone else’s private communications.
Neither the information nor any opinion contained in this document constitutes a solicitation or offer by Vahrokh Consulting or its affiliates to buy or sell any securities, assets or services.