Bitcoin Forum

I have received the announcement of the IPO for this stock in my email, but as far as I can see there is no related Bitcointalk thread.

Can anyone share some insight about this venture?

Announcing the upcoming public offering for 7C Seventh Continent Ltd. (7C)

On Thursday, December 5th, 2013 at 1:00PM (EST), a public offering will open for 7C Seventh Continent Ltd..
Total Units: 250000
Maximum Units Per User: 250000
Price: 0.0077BTC/unit
Fund Overview: https://www.havelockinvestments.com/fund.php?symbol=7C

Market: www.gameontheseventhcontinent.com
Info: www.gameontheseventhcontinent.net

First Economy for Bitcoin owners
Seventh Continent is a digital commodities exchange in Bitcoin for privately run businesses: Let us build a better future together!

Comparative advantages:

•Seventh Continent Market is a new skill based investment opportunity for the Bitcoin community.

•Fair play, transparency, equal opportunities!

•“One Market One Trading” model means no OTC trading, no credit risk, no scams, no cheating possible, also prevents monopolistic positions and stealth or fraudulent second market transactions.

•Overtake the zero-sum game paradigm! On Seventh Continent Market digital products will be sponsored by brands (for instance energy drink will be renamed Red Bull, a rented car Avis sedan, hamburgers Big Mac or Whopper etc) paying a small advertisement fee each time a digital product bearing their brand name is sold on the Market. The fee will be divided fifty-fifty between users and operator. This way the sum of cash circulating on the Market will always be higher than the sum invested by the users!

•Investment risks on the Seventh Continent Market can be kept to a minimum since customers own the trading businesses and can have a relatively high influence on prices.

•Seventh Continent has currently no direct competition. Nevertheless it has the enormous advantage to create its own competition by opening very quickly new market places (China, South Korea, Germany, Argentina, Russia etc) in different cultural environments listing local products, in different languages, multiplying user base and sources of income alike.

•When real money for digital goods with no return loses its shine, a skill based market place where players accumulate fame and fortune stands a chance of being a real success.

•Flash front-end today and a brand new HTML5 front-end for February 2014, 3D platform for IV.Q.2014.

•Users will have the opportunity to list their real companies on Seventh Continent Market starting III.Q.2014.

Business model:

Register a company in Bitcoin > Purchase resources > Trade > Make profit > Cash out or Reinvest your Bitcoins back into the Bitcoin Economy.

Targets

Funds raised will be used for the following events and developments:

•New HTML5 front-end launch in February 2014

•Trading Rally on March 7th 2014 - Participation of unlimited number of users registering at least one digital company and participate with a minimum of one Bitcoin competing for 77 hours to win the first prize 77 Bitcoins. Three goals will be met: 1.awareness, 2.confirm a solid user base, 3.profit (first dividend) As a result we hope 7C unit value will dominantly increase.

•Open Chinese 7C platform in April 2014

•Trading Rally in Hong Kong in April 2014 (another value adding event)

•Open new regional platforms in June-October 2014

•3D launch by the end of 2014

Please contact us for more details or questions.
Thank you for your time and interest.
Gregory Adam Harmati PhD - CEO Seventh Continent Ltd.

I cannot understand what this company is actually doing.

Best I can understand so far, it's sorta like Second Life.

For the $2m they want to collect, they have not delivered enough information, like estimated profits, share holder structure etc.

Also they're asking for $2m, that should be reason enough not to invest.

I got the same e-mail. I think they went out to all Havelock members. Was also a little confused at their goal here.

I checked yesterday and both of the sites were down.

And can you better explain how everyone deposits money into your game and then somehow everyone cashes out more than they out in. It sounds Ponzi-ish.

I sort-a kind-a get it. It's not gambling ("it's skill-based, derp!"), not a pyramid scheme ("and this is what you get by referring friends, Friend!") and is "a for profit game."
Site loads flash, nothing works other than the registration form.
Amazing company.
http://s18.postimg.org/7rvxvlhzd/image.jpg

Yep this all confirms my first impression

http://images2.wikia.nocookie.net/__cb20130802133046/dragonball/images/6/61/Shut-up-and-take-my-money.jpeg

This is one of those listings where they ask for 2 million dollars knowing it will never actually sell out, they hope half of it will sell and they can walk away with their 1 million dollars. I feel disappointed that Havelock would list something like this, it seems to be going downhill.

It was posted in the economics thread I asked for a redirect
Their is also one in the newbies thread
https://bitcointalk.org/index.php?topic=331545.msg3815932#msg3815932


Got to agree from what I have read this is a Second Life idea based on bitcoin
While I agree it is a neat idea the valuation makes absolutely 0 Sense to Me
In fact I can't even value this based on the information we have
I don't go and make a website then value it a 2 million dollars
I could but would people really be interested

That said I can easily argue Second Life's economy is around a few million a month
http://en.wikipedia.org/wiki/Economy_of_Second_Life

But correlation does not imply causation
Because A is worth so much B should be worth 2 million at this time
That said the rub here is that if the IPO succeeds the market capital of the site itself is somewhere around that range

I guess it also will be used to make a 3D site

Either way reserved vote

Personal opinion:
I almost want to have Havelock have voting privileges on the listing of new assets if this is all the info we get on IPO's

7C has a prospectus available, but the layout of the Havelock website doesn't make it all that obvious.  Links:

https://www.havelockinvestments.com/reportdownload.php?id=43  (7C prospectus)

https://www.havelockinvestments.com/reports.php (all fund reports)

After reading through the the summaries (both here and on Havelock) as well as the prospectus, my best guess falls in line with others: It's an odd 'Second Life' sort of game, or at least the marketplace aspect. You register, pay a small fee to build up your fake company, make / produce products, sell / trade those products, profit.

The concept seems pretty cool, and it reminds me a bit of some of the Facebook games that came out ages ago...only difference here is you're hit with fees with just about anything you do in the game. This would be something I'd probably play from time to time...but not something I'd invest in, at least not until they're up and running, have a strong customer base, and some actual financials.

Also, not sure if anyone's noticed, but tomorrow signifies the first round of funding. There are 3,000,000 shares in total; 2M privately held, 1M to be offered in 250K increments. They're not valuing their company at BTC1,925, they're valuing it at BTC23,100.

Oh, and we can't forget the disclaimers near the end of the prospectus ;)

Gentlemen:
I appreciate your concerns probably based on bad experience you had or read in the past. However I venture to suggest you to read our IPFO Prospectus and business description you will find on HI Fund Reports. I trust you will change your mind.

@_mr_e @ThickAsThieves
OnBitcoin compared us in a recent article to Second Life but let me tell you that this is not the same business model or profile. We have a fine-tuned economy in 2D which will be multiplied to serve different cultural area (Western countries, China, South-Korea, South-America, etc...) and by the end of year 2014 an independent 3D RPG. It is obviously not necessary to attach the 3D to all existing 2D platforms, moreover probably only Western 7C will be privileged. Market and users will decide.

@pascal257
Please take time reading through detailed Prospectus before posting hasty comments. If you have any questions I will gladly answer them. Nevertheless constructive critical comments are appreciated.

@zefyr0s
IPFO Prospectus available on HI Fund Reports page will give you a thorough picture of our work.

@twentyseventy
Please write URL addresses correctly into your browser and you will see that no "sites are down". Besides you have been poorly informed: Seventh Continent does not offer any fix or high returns, users are not paid from subsequent users investments, always solvent, investment after registering a digital company in Bitcoin can be withdrawn at any time, consequently it is not a Ponzi-scheme. Please let me know exactly what concerns do you have and I am open to discuss them. I believe it is important to be honest and fair on a Forum like this one as well even if you choose to keep your incognito.

@pankkake
I actually don't even know what to answer you ... lol. Your crude humor doesn't give me too much intellectual space to deploy my thoughts.

@crumbs
All I have for you are just crumbs... But of course our company and developers are great individuals. Flash developed years ago is unfortunately not today's technology I give you that. This is why we are working on a brand new HTML5 front-end and will be launching in February 2014. You should admit nevertheless that Flash was a much safer and aesthetic solution than HTML which finally won the battle...

@Peter Lambert
You must have been deceived many times, probably this is the reason for your concerns. You need to trust us that we pursue the same goal than our individual investors: building a fair and transparent economy for the Bitcoin Community. If you are ready to participate, you are welcome, if not I don't want to convince you.

@freedomno1
Thank you for raising more serious questions. Actually HI provides all necessary information and believe me this is not the first investment round. Besides we are not talking about a "website", rather a complex system including a serious back-end and front-end.

@Kyune
Detailed Prospectus is available at Fund Reports.

Gentlemen, thank you for your comments and time. In case you are interested in our project you are all welcome to ask for more information and/or contact me giving up your incognito, you will find my direct email on HI.
Sincerely
Gregory Harmati PhD
CEO - Seventh Continent Ltd.

Since you are taking the time to answer questions, why not answer the most important one?

Please explain your valuation.

+1

This.  lol

All the bitcoin investors in this thread are male?   ::)

So, is the 7C game itself for men only, or just the investment opportunity? 

I'm ready to take it on trust that "[your] company and developers are great individuals," though the exact meaning of that puzzling lingual construct continues to elude me.
If I seemed critical of Flash technology, that was not my intent.
Please forgive me.
What i meant to suggest is your website is joke.
None of it works.
The dying technology at its core --  the "much safer and aesthetic solution" -- loses relevance in light of that fact.

Some here might argue that waiting for flash to load before seeing your broken site not work is tedious.  Pay them no mind!  Petty, inconsequential rabble -- artless philistines!  A broken site the caliber of yours is well worth the wait!  And many, many millions of dollars to boot, lolz.

On a happier, more constructive note: Love your goulashes and rhapsodies, consider incorporating one or both into your wonderful broken site.

+1 , after HIF its just another bad joke ... and why the fuck is LABCOIN still listed there?

Ladies and gentlemen:
I try to answer your questions and comments whenever I have time.

@Korbman @ThickAsThieves @shadallion @wmcleod
Seventh Company Ltd. evaluation has been made based on previous first and second rounds of investments by Havelock Investments a Panamanian Private Investments company during due diligence process and it is indeed a post-money valuation (not pre-money valuation!). But of course evaluation took into consideration total capital invested in the previous rounds by Angel investors and VC, as well as income and profit estimations. For more information please contact listing Fund and read about our market entry strategy in the IPFO Prospectus.

@Kyune
I am sincerely sorry :) Seventh Continent is of course for everyone.

@crumbs
As I said just crumbs ... your moniker speaks for itself. But I really like your humor when it is not too personal or racist. I appreciate that you are trying to foil the intellectual carousel you got yourself in, and let me help you: I am not trying to convince the "artless philistines" as you so eloquently put it rather explain that we are releasing a new HTML front-end soon. I am sorry you are encountering difficulties with Flash; I am not sure but maybe downloading latest version and install it on your computer is not a far fetched idea.

As token of appreciation for taking time giving your assessments on my company's current market introduction I would kindly ask you ladies and gentlemen to give your thoughts on how you would build an economy for Bitcoin. I am really interested what do you think about it. Not to put too fine a point on it, but building a new economy for Bitcoin is our goal!

Thank you all.
Sincerely
G.A.Harmati PhD
CEO Seventh Continent Ltd.

G.A.Harmati PhD, CEO, DMD --"An more erudite scammer"

It seems that Greg would stand a lot to lose from scamming people out of ~$3m...

The idea certainly sounds good though, will read the prospectus.

I am not sure if I understand all the big words and corporate speak, but it sounds like you are valueing your company based on what you think investors will throw at you rather than any properties of your business?


See here: https://bitcointalk.org/index.php?topic=124441.0 (https://bitcointalk.org/index.php?topic=124441.0)

What does that mean, exactly?
Why raise capital when it's not needed, i.e. just to let it sit in escrow?  Are you suggesting that you worked out some sort of allowance rationing between the two of you?  Please clarify.

Yes, please clarify what is meant here, Havelock.

All Capital raised in this or any of our future offerings will not be accessible directly by the Company looking for Capital. It is placed in Escrow and will only be distributed as needed by the Company to pay for expenses. A company will need to provide proof of what the money is used for and where the money is going. Only after verification, Funds are released only for the expenses specified, while the other funds are still kept in escrow.  We will not just provide access to the Capital raised through Havelock Investments directly to the companies. They must show which phase of development they are at in order to receive applicable funds. The same way a Construction Loan works, only in provable stages.

In the event the Company is no longer able to continue operations, for whatever reason, the remaining funds in the escrow account will be refunded to the Unit Holders equally.

Thank you,

Havelock Investments

Well that makes more sense to me
I hope the cold storage wallet is well guarded  ;)

Thank you for the clarification.  This sounds like a good idea.

I can't believe this security was taken on, this is embarrassing.  If this comes even close to selling out I have lost faith, gone are the days when any BTC investment got infinite BTC thrown at them.  Still not sure why I didn't start one back then, I met a guy selling the Brooklyn bridge and as a bitcoin community we could have owned it.

That's a rather... unique way of handling an IPO IPVO IPFO.  Are your other asset issuers treated the same way?  Neo & Bee, for instance?
Who's the dude doing the escrow?  Does he charge for his service?
Who is doing the financial audits, same dude?
Who gets the frequent flyer mileage from the Panama - Hungary flights?

Havelock, is this a policy change that will be in effect for all future IPOs, or just this one?  Why did you choose to implement it now, on this particular IPO?

This raises new issues regarding Havelock's transparency and reliability.  Investors and issuers both will have new long-term counterparty risks if Havelock itself is going to control the private keys to these large capital sums.   Or are the the capital funds going to be controlled by some third party and be "escrowed" from Havelock itself as well?   (Doesn't sound like it from the wording above).

This Policy will effect all future offerings including this one. It is required by The Panama Fund that manages the Bitcoin Venture Capital Fund.

All funds in escrow, and all of the Havelock Investments Funds are audited by Certified Public Accountants registered and licensed in Panama.

We have taken this step to protect the Havelock Investments users.

Thank you,

Havelock Investments

A Panamanian shelf registration AKA "The Panama Fund," managing "Bitcoin Venture Capital Fund," AKA "Havelock Investments."

Total IRL addys:       0
Total IRL dox:          0
Total investor trust:  Over 9000

*Havelock Investment Fund's self-offered IPO stalled and failed halfway through its second tranche.  See here (https://bitcointalk.org/index.php?topic=339417.msg3640995#msg3640995).
TL;DR:  The less-than half-funded IPO was deemed a success & trading started.  

Edit:
Q:  How does a typical security fare on Havelock?
A:  They all tank.  No exceptions.  Not a one.

Q:  Got any examples of recent offerings?
A:  Sure, here's the most recent one, tanked in less than a month:

http://s12.postimg.org/42rv34orx/Capture.jpg

Q:  Surely the Havelock Investment Fund did better?
A:  Hell no, that tanked like the rest of them.

Q:  So, should i invest?
A:  Lolz.

Some people get on the boat, and others miss it.

But not you.

http://techpinions.com/wp-content/uploads/2012/07/great-ships-the-titanic.jpg

None of my securities, including NEOBEE, are under this requirement, they are all PTs anyway.

All funds raised for NEOBEE on Havelock were sent to Danny very early on.

TAT is correct!

Also COG Fund was not a new offering but a re-listing on our Site from another exchange.

I realise that, TAT, i have no doubts regarding NEOBEE.  But it begs the question:  Why is this one?

It tanked, regardless.  Just like the rest of the securities on your exchange.

Mining stocks were destined to go down as soon as ASIC came out on a large scale. It will ultimately reach an equilibrium once the total network hash rate stabilizes. When that happens mining share prices will ultimately stop falling and settle at a point to which the dividend is acceptable to investors for use of their BTC capital.

The fact that Havelock is the LAST half-decent exchange left says something positive about how it is run. The fact that Havelock is attracting a wide variety of new funds such as 7C also is positive. Havelock is providing a place for companies to list. All of these companies are VC level investments. They will not immediately go up. Ultimately as an investor I believe some of them will be successful in the future.
 

...and that would be the point at which "investing" will make sense.  Not before.
My point is embarrassingly simple:  If you can predict that the price of an offering will be lower in the future, wait for that lower price.  Something about "catching a falling knife."  Only now it's not a single knife -- it's a knife downpour.  Add to that an exchange that just "got sold" to some Panamanian letterhead...  you get the picture. 
*Do you still only post about Havelock?  Haven't taken my advice about throwing some variety into your posts, i haven't checked?

I'm pretty sure I've heard this "for your own protection" stuff before....

Off-topic remark: Are you turned on by the combination of smugness and exposed tits in your profile picture, since you're clearly a dude?

It's been done to death Herpy. People have met me. Get over yourself.

I'll take that as a yes.  ;)

Another successful Havelock IPO :D

:D
http://s3.postimg.org/3o1fyhqgj/Capture.jpg

I wonder if that drop was in any way related to this piece of information missing from the dividend notice:

http://coincurrencynews.com/2015/03/05/its-dividend-time/

Ouch.

Two (of many) glaring problems here:
1) If you've been blogging and getting free shares for your work, but can't make ends meet, something tells me this "plan" is really just to generate hype for a quick pump and dump.
2) If the company isn't able to generate their own dividends from profit, what's the point of donating your money to do it for them? That doesn't do anything to solve the underlying problem, and instead serves to highlight the floundering state of the company.

Well looking at what happened to the stock got to agree with you Korbman
1) On March Sixth pre Dividend it was at 0.003
2) After Dividend of 900 satoshis stock price collapses to 0.001
3) Presently valued at 0.0007

So yep it backfired pretty badly there or someone dumped after the dividend was recieved
https://www.havelockinvestments.com/fund.php?symbol=7C

Thanks for the necrobump. So this was Havelock :D