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

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

[zefyr0s]

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.

[Peter Lambert]

@Korbman @ThickAsThieves @shadallion @wmcleod
Seventh Company Ltd. evaluation has been made based on previous first and second rounds of investments by Havelock Investments Canadian Bitcoin based Fund Exchange 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.

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?

@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.

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

[havelock]

Any Capital raised by Havelock Investments on behalf of this Fund will be placed in escrow. The raised capital will only be distributed to the Company based on a per performance basis agreed by Havelock Investments and the Company.  In the event that the Company is no longer able to continue operations, all of the remaining capital in escrow will be refunded to the Unit holders equally.

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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.

[pablo325]

Yes, please clarify what is meant here, Havelock.

[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

[freedomno1]

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

[pablo325]

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

[superbit]

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.

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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

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?

[Kyune]

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

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).

[havelock]

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 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

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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.
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:



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.

[pablo325]

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

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

But not you.

[ThickAsThieves]

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

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?

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.

[havelock]

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.

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...
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.

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

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

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