Thursday, June 15, 2006

[-SVE-] Hook, Line & Sinker

The first major IPO scam just happened and we all fell for it. Janette analysed our failsafes, prepared herself and beat us.

Luckily it seems we will get away with this and will be reimbursed (while Janette keeps her isk). The rules have been changed, it has been made very clear that all sorts of scams including IPO scams are legal now, even when conducted on the eve-o forums.

First of all I want to say I am happy for my investors and my fellow investors we got our isk back, it would have been a big pile of learning money, and I hope the lesson has been learned anyways.

What does this mean for the future?

I personally think it is a good thing!, over the last weeks the quality of the IPO's has been degrading, people were investing in anything, and the services I could offer as EMFi were limited to throwing my isk at an IPO before someone else did so I could get a stake. Of course I have done my famous grilling, but the participation of CEO's has been limited. Why be grilled if you can sell out your IPO anyways?

What I hope now is that the eve-public is MUCH more sceptic at looking at IPO's and new CEO's are much more realistic about the effort they put into preparing an IPO and the isk they hope to raise.

I see new opportunities and increased revenue from our underwriting and venture capital departments, also I see rising stock prices for established public corporations.

Even though we didn't get any tools, the increased awareness of the public has benefited the IPO community.

Watch this space, I will be writing up in detail the services I will offer in my underwriting, and venture capital divisions.

3 Comments:

Anonymous Level4 said...

It would be usefull if we could find a link on your site to the following resources:

1) a brief explanation of what is an IPO , similar to this http://jmbroker.blogspot.com/2006/05/faq.html

2) an example of a good well prepared bussiness plan.

and finally an example of a proper financial statement to be used to communicate back to investors..

lets educate the folks who are interested, we need to make it all more accessible to everyone.

June 16, 2006 5:52 am  
Anonymous Taurequis said...

I want to echo the comments above. Also it would be nice to have a glossery of terms used in the IPO's for us non educated out there that may be a bit confused by things like NAV's etc at first glance.

June 26, 2006 7:21 pm  
Blogger Nocturnal Prince said...

Im please that although you where scammed and lost some ISK, you still can find something positive to say. If you gained anything from the whole SVE scam it is this...

In the future you will have more time and ability to pick the shares and imo that is far more valuable.

June 26, 2006 8:51 pm  

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