[HAVELOCK] (HIF) Havelock Investments Fund

[Zakryze]

na they should spend even more btc on cocaine and whores so they dont have a revenue at all...

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[jrlichtman]

Havelock should hire a finance person/accountant.
Also site could use some new improvements.

I would be surprised if they don't have an accountant. This is an issue of transparency (opacity?), not accounting.

[Zakryze]

its an issue of "i put the money back into my pockets until i crashed the market hard enough to buy back the shares extremely cheap until i can sell them off and scam even more customers"

[jrlichtman]

its an issue of "i put the money back into my pockets until i crashed the market hard enough to buy back the shares extremely cheap until i can sell them off and scam even more customers"

Maybe. There's a working exchange. There's traffic on it. I've bought and sold shares there many times, and paid the percentage fee each time. I'm assuming that the listings are paying their fees as well. We don't have a breakdown for revenue, but if I sat down with a spreadsheet I could probably come up with a pretty good guess.

What we don't know is what the expenses are. That's a big problem.

The whole point of a report is so that investors can make informed decisions. I find this extremely disrespectful to the shareholders.

[VJain]

I invested (stupid decision at IPO) as a 3 yr investment (1 BTC). Let's hope that things, in the long run, sharpen up.

[jrlichtman]

I invested (stupid decision at IPO) as a 3 yr investment (1 BTC). Let's hope that things, in the long run, sharpen up.

I put in a small amount, also at the IPO. Hanging on because its worthless anyhow.

[Lohoris]

Very interesting.

Report Summary:
167.0421581 BTC in Revenues
165.03646538 BTC in Operating Expenses
------------------
2.00566043 BTC Profit

All I can say is just wow.  Talk about a retarded thing for me to invest in.

"Never go full-retard"

lol obvious scam is obvious.

[joele]

Expect negative profit next quarter.

[VJain]

Very interesting.

Report Summary:
167.0421581 BTC in Revenues
165.03646538 BTC in Operating Expenses
------------------
2.00566043 BTC Profit

All I can say is just wow.  Talk about a retarded thing for me to invest in.

"Never go full-retard"

lol obvious scam is obvious.

How is it obvious? Do you have information we don't? Or if there was something I missed, please point it out and I'll facepalm for the next 30 seconds.

My belief is they're just either:
1. Reinvesting it all on marketing/dealing with potential investors/funds
2. Making poor management and expense decisions (my eyes on this one)

I really hope Havelock publishes their expenses... in a more detailed way.

[Lohoris]

I really hope Havelock publishes their expenses... in a more detailed way.

They could be detailed if they wanted to.
They are not detailed.
"Accidentally" they are exactly spending everything.
Scam.

It's up to them to prove they aren't scamming, and they aren't even trying.

[_mr_e]

Wow, I always thought Havelock was a trustworthy company... this makes me seriously doubt that.

[jrlichtman]

I really hope Havelock publishes their expenses... in a more detailed way.

They could be detailed if they wanted to.
They are not detailed.
"Accidentally" they are exactly spending everything.
Scam.

It's up to them to prove they aren't scamming, and they aren't even trying.

We're talking roughly $30k per month over a three month period.

Let's say (being generous) that their hosting cost $2k per month, and that rent cost a similar amount.

That leaves $25k. Does that consist of four or five salaries? Maybe. There's work involved in keeping a site like this running.

Perhaps there's some marketing budget or SEO in there as well.

All of the above could be justified, if they just gave us a breakdown.

[freemarketaussie]

I agree most of the costs I would think would be wages, however for investors to have confidence in the platform and therefore support the stock price Havelock should be more transparent on costs. Some guidance on the future would be good as well, such as improvements on the platform, advertising, new assets that will be added, hopes / dreams etc...

[NotLambchop]

I agree most of the costs I would think would be wages, however for investors to have confidence in the platform and therefore support the stock price Havelock should be more transparent on costs. Some guidance on the future would be good as well, such as improvements on the platform, advertising, new assets that will be added, hopes / dreams etc...

You know what else would help investor confidence?  Havelock shares trading at more than a fraction (1/7th) of the IPO price

[pummle]

Without any breakdown of the categories, the numbers in the report just look like something somebody pulled out of their ass.

[pumawolf]

Very interesting.

Report Summary:
167.0421581 BTC in Revenues
165.03646538 BTC in Operating Expenses
------------------
2.00566043 BTC Profit

All I can say is just wow.  Talk about a retarded thing for me to invest in.

"Never go full-retard"

  i know the wall st fat cats party hard ,but  dam.   they really need to turn this site into a daytrading site, this  is pathetic .

[AcoinL.L.C]

Very interesting.

Report Summary:
167.0421581 BTC in Revenues
165.03646538 BTC in Operating Expenses
------------------
2.00566043 BTC Profit

All I can say is just wow.  Talk about a retarded thing for me to invest in.

"Never go full-retard"

  i know the wall st fat cats party hard ,but  dam.   they really need to turn this site into a daytrading site, this  is pathetic .

Their operation isn't big enough to call for having salaried staff, if they need work done --> freelance
They should have a core staff of a few people who's earnings off the site come from equity. Having 165BTC in expenses is ridiculous, they surely aren't spending any of it towards improving the site (which would cost ~$7500 to build at most). And how did they generate 167BTC in revenue? Trade volume isn't that high, and they earn ~20BTC a month in the outrageous fee's they charge to the assets issued on it. Between this and them refusing to even respond to the mintspare issue, Im losing a lot of faith in Havelock.

[Lohoris]

Between this and them refusing to even respond to the mintspare issue, Im losing a lot of faith in Havelock.

About time! : )

[nubbins]

they surely aren't spending any of it towards improving the site (which would cost ~$7500 to build at most)

Given that I found and responsibly disclosed a gaping CSRF vulnerability (visit a malicious website while logged in to Havelock, get your account emptied) to them last summer, I doubt they paid $7,500 for the website. If they did, they overpaid.

Unfortunately, this was before the bug bounty, so all I got in return was a "thanks for the tip" 

[Gleb Gamow]

For those who've never seen a pic of James Grant before. He has a brother name David, too. Contact me if you need a Full Metal Dox on the clan.