2012-39-NYAN-statement
NYANCAT FINANCIAL: YOUR FRIEND FOR LIFE
Nyancat Financial Weekly Letter to Shareholders
Sunday September 30th, 2012
also available at:
http://www.tsukino.ca/cpa/nyan/nyancat-statements/2012-39-nyan-statement/Here is the payout for week 39:
Week 38:
NYAN paid 0.51% (0.00395570 per share on NAV of 0.77). The NAV of NYAN is now 0.78 per share.
NYAN.A paid 1.00%
NYAN.B paid 2.00%
NYAN.C paid 0.53% (0.00090225 per share on NAV of 0.17). The NAV of NYAN.C is now 0.18 per share.
This week we have regretted making last week's major shift to using an automatic script to value our portfolios. Thus we will return to the old way of valuing using RMV (Real Market Value) and not NAV-as-spot-price. However, we will still publish spot price figures because I think that pulling data directly from GLBSE is kind of cool.
Simplification Week
This week was Simplification Week. NYAN was unwound as were many small positions. HRPT was moved out of A and B back to C. Shares were bought back en-masse (I actually bought back too many shares and had trouble paying this week's div. Next week will be fine.) Holdings of NYAN.A have been converted to BMF, to add stability to NYAN.A.
NYAN
After buying back almost 1,500 bicoins worth of NYAN-related securities over the past 2 weeks (900 NYAN and almost 600 NYAN.A and NYAN.B iirc), I've decided to close the NYAN ticker symbol. It will now enter a long-term process of liquidation in which it will pay approximately 0.5% to 0.7% per week and buy back shares. The NAV is currently 0.79 and this will go up as it buys back shares (even if it buys back shares at 1). CPA will accelerate this process from time to time; please feel free to put shares up for sale in the low .80's and we'll see about buying them out as time goes by. The NAV will slowly increase back to 1, so keep an eye on that as well. Any reasonable bids on NYAN will be taken and used to buy out NYAN.B.
The wind-down was done by returning all the shares in NYAN to their respective funds (save 250 NYAN.A to maintain the NAV). There was enough NYAN.B in NYAN to warrant returning about 3,500 shares of CPA back to CPA as well, so that position is also being wound down.
NYAN.A
We be unwinding all non-BMF assets in NYAN.A. This will allow me to focus on increasing NYAN's value by working on a single portfolio, NYAN.A.
Additionally, 500 OBSI.HRPT was moved to NYAN.B in exchange for MOVETO.FUND and a further 600 OBSI.HRPT was moved out for FPGAMINING (which was then traded for more BMF) at 0.5 per share of FPGAMINING. FWIW that's the current spot market price. We will continue winding down OBSI.HRPT via transfer as time goes by, just like it says in the contracts for NYAN.A, B and C, any holdings will be moved into NYAN.A if NYAN.A experiences any losses.
NYAN.B
We will continue to buy back shares of NYAN.B as we can. I think that we may try to completely buy out NYAN.B at 1 btc/share. This will take a long time, maybe a few of months all in all. We will see. I would consider selling NYAN.B if it went over 1.01/share. The basic idea is to allow all the overflow from A to reach C. Although, it's true, the trade overflow from B is substantial. In this regard OBSI.HRPT is playing a bit of a part here; I'll be transferring some of NYAN.B's safest and lowest-paying assets to NYAN.A in favor of OBSI.HRPT this week. I will also be looking at transferring more OBSI.HRPT into NYAN.C. I don't believe OBSI.HRPT is worth 0.0299, as there has been no public news from Obsi. At the same time it doesn't really belong in NYAN.A or NYAN.B because it is a high risk fund. Please keep in mind that these HRPT assets were moved from NYAN.C because of a price crash on GLBSE. There is no danger from A or B holding HRPT. The only danger is that if held long-term I may forget the risk and buy more HRPT in C. That would not be acceptable; NYAN.C should buy the HRPT back from A and B before it buys any new security. That will return the fund's risk profile to what it should be. It's a simple rule, and nothing to worry about.
We also sold ~3,900 shares of DMC between .07 and 0.09, for an approximate 800% return. This return has now been realized, previously it had only been assumed. A large part of this went out in dividends already anyway.
NYAN.C
NYAN.C is in the trenches now, there's no doubt. The problem now is OBSI.HRPT. The current top ask is 0.0299. However, what's the news? There's no news. OBSI has been paying low dividends recently, however this was announced by Obsi ahead of time and the contract allows for it anyway. OBSI.HRPT still pays better than mining; the 7 day dividend average is 2.13% per week according to stochastically.com. I don't see any reason to panic yet. After talking with Obsi several times about this on IRC I believe the value of OBSI.HRPT is not 0.0299, but 0.1. That is the price he will sell new shares at. And as nothing has changed that I am aware of or that he has told me, I refuse to destroy the setup in NYAN based on a temporary market crash. So I'll keep OBSI on the books at .1 for now. Yes, I will be actively trading OBSI.HRPT for the fund. I will be buying low and selling hi if I can do it.
We even made a few nice trades already this week buying OBSI.HRPT at ~0.02 and selling for ~0.05.
Ok ok so I've insinuated quite a few times there are things I know about OBSI.HRPT that the market does not know. While I'm not ready to spill the beans just yet, let me just point out that as the market has been selling down into .01, OBSI has been quietly buying back 500 to 1,000 shares per day over the past 4-5 days. Big hint. I think I'll just leave that there for now.
THE TROLL SITUATION
For the last 2-3 weeks, a number of scumbag trolls (Puppet, Deprived, Eskimobob and some others) have been dogging me in the forums. They follow me around to literally *every* thread I post. They lie about my companies and what I am doing with my companies. Each and every trade is scrutinized. The logic is often of the form "Usagi is running a scam because he made a trade {traded x for y} and we assume that this trade is scammy!" It makes little to no sense. They have on various occasions called my operations a scam because:
1. NYAN.C might invest in ponzis (OBSI.HRPT is not a ponzi; and the NYAN.C contract states "Investments are chosen entirely based on their interest rate without regard to the risk profile." anyway).
2. BMF does not lower it's share price each time we buy hardware. (No-one does that. it's not logical. The complaint is that we list hardware at the full purchase price including shipping. This is what we paid for it, and we price our company on the market using this info. So that's that.)
3. Puppet and EskimoBob in particular have opened scammer accusations against me for the sole reason I have reported their posts and called for tags for them. They skip from issue to issue, deny and obfuscate the single and focused claim (i.e. 1) that I have made against them, and some trolls even ignore the local rules of a thread.
4. Moderators don't do anything, suprisingly, even on clear contract violations, clear malicious criminal libel, and do not enforce local rules.
My question is.. why? Why me? I came to the conclusion that it is because I set the standard for disclosure with my online spreadsheets, websites and FAQs, and weekly letters to shareholders. I cannot deny that every day, the trolls pick apart the facts, figures, and other data on my spreadsheets. It has to stop and moderators are doing nothing.
So I've come to a decision. I just checked the contracts for BMF and NYAN. Nowhere does it say I have to provide disclosure of any kind. I think you know what I am about to say and I think it's justified.
I publish spreadsheets for everything I do. I write weekly letters to shareholders. I wrote a FAQ. I'm ID Verified on GLBSE. I set up public e-mail addresses for each one of my companies. I hang out on IRC and the forums all the time and answer questions. BMF even donated 50 BTC (fifty bitcoins) to bitcointalk.org. And this is how I am treated. I even helped Nefario set up a public panel of community members to help make decisions on IPOs and disciplinary actions. I'm the good guy here. You're looking at the GOOD guy. This troll situation is too much and a big problem is the mods. I've been on usenet for a very long time and many private blogs and boards. Unmoderated communities ALWAYS DIE. In short the mods here for all their experience and power are actually quite inexperienced and lazy, and they don't recognize value when they see it. I cannot tell you how sorry I am that I gave Theymos 50 bitcoins, I had thought that at the very least they would enforce local rules, and they ignore them. I'm actually pretty upset that Maged said I was close to a scammer tag and that I had been making misleading statements, without actually pointing out what those statements were.
Fine.
You asked for it, you really did. No more weekly letters to shareholders. No more updating online spreadsheets. I remain here to answer your e-mail. But I will only speak to shareholders, potential investors, or forum mods in PM (or when requested in public). You must obtain a signed letter of holding from Nefario as a shareholder, or pay a deposit into escrow if you are a potential investor. I really do not care if you decide not to invest with me as a result of this decision. If you are so lazy that you cannot be bothered to contact me then I do not want you as an investor of NYAN. Game over, trolls. I win.
(Of course, NYAN will continue to publish a spreadsheet, once a week or when dividends are paid. Enjoy.)
I will reverse this decision when Puppet, Deprived and EskimoBob are either banned from the forums, or recieve a scammer tag. If you wish this to happen, please petition against them in the Scam Accusations forum. Have a nice day. MPOE-PR should also probably be banned.
MANAGEMENT GUIDANCE FOR WEEK 40
In general, we will continue to buy back shares of NYAN.B aggressively and sell shares of NYAN.A, in an attempt to rescue the NYAN.C shareholders. NYAN.A and NYAN.B will continue to pay and trade as they have so far. However, paid bashers have recently begun to infect the forums and moderators have basicaly stated they will do nothing. As a result the liquidity crunch has worsened and panicky invetstors have been scared into selling. We advise you to place below-contract bids for NYAN.A and NYAN.B, if you wish to try to catch a deal. However we do not advise trying to sell A or B at 0.99 or less at this time. If I see bids up for that I will continue to buy them back. Remember, when we buy back shares at 0.99 or below, it actually increases the value of NYAN.A, B and C. Something to think about.
I remain available to answer your concerned questions regarding NYAN. You can always e-mail me at
nyan@tsukino.ca or chat on IRC.
Good luck!
Quoting this one so there's still a copy whenever usagi next has a deletion spree.
