New stock on Havelock: 7C (Games on the 7th continent)

[thehun]

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.

[_mr_e]

I cannot understand what this company is actually doing.

[ThickAsThieves]

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

[pascal257]

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.

[zefyr0s]

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

[twentyseventy]

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.

[crumbs]

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.

[thehun]

Yep this all confirms my first impression

[Peter Lambert]

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.

[freedomno1]

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.

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

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.

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

[Kyune]

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)

[Korbman]

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

Seventh Continent Ltd reserves the right to amend, vary or withdraw any information contained in this document
at any time without notice. However unit owners will be informed of changes. Mainly strategic changes may take
place following legal regulations of Bitcoin and/or new Bitcoin markets opening.

...

Whilst all reasonable care has been taken to ensure that the information contained in this document is up to date
and  accurate,  Seventh  Continent  Ltd  gives  no  warranty,  either  expressed  or  implied,  as  to  the  accuracy  of
information  particularly  of  income  and  profit  estimations  in  the  enclosed  prospec tus  and  accepts  no  liability
whatsoever for any loss, damage or inconvenience caused as a result of reliance on such information.

[Seventh Continent]

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.

[ThickAsThieves]

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

Please explain your valuation.

[shadallion]

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

Please explain your valuation.

+1

[wmcleod]

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

Please explain your valuation.

This.  lol

[Kyune]

Gentlemen:

[...]

Gentlemen, thank you for your comments and time.

[...]

All the bitcoin investors in this thread are male?   

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

[crumbs]

...@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...
...

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.

[bitcoin.newsfeed]

I seriously hope no one is going to buy this. And WTF is Havelock becoming?

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

[Seventh Continent]

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.