Topic: New stock on Havelock: 7C (Games on the 7th continent) - page 2. (Read 5336 times)

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).

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?

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.

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

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

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

Yes, please clarify what is meant here, Havelock.

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.

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.

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://bitcointalksearch.org/topic/so-you-think-youre-going-to-start-a-bitcoin-business-right-124441

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.

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

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.

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

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.

All the bitcoin investors in this thread are male?   

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

This.  lol

+1

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

Please explain your valuation.

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.