## Raven's Coin Finances

### Re: Raven's Coin Finances

I am not really a rules lawyer type GM, it has been a trip seeing the different ways for chargen though.

### Re: Raven's Coin Finances

Okay, so Geris still needs to buy some stuff.

And we don't yet know if Fusil's number is before or after "shopping."

We need to get those last 2 numbers so we can figure the ship's pool and our shares.

And I have at least 1 okay for the idea of each of us donating 1-2k Cr towards Litnam's shares.

And we don't yet know if Fusil's number is before or after "shopping."

We need to get those last 2 numbers so we can figure the ship's pool and our shares.

And I have at least 1 okay for the idea of each of us donating 1-2k Cr towards Litnam's shares.

Last edited by forbin on Wed Dec 25, 2013 10:08 pm, edited 1 time in total.

John B. |

**Elliott von Rossveldt**, ship's CCS officer. | 2 5 9 B F B | 8 7 9 B F B### Re: Raven's Coin Finances

Fusil will chip 50K

Keven - Wyott Khade 876CB6 - "He did WHAT with a stick of butter?????"

### Re: Raven's Coin Finances

Elliott's pay in is Cr 62,445

John B. |

**Elliott von Rossveldt**, ship's CCS officer. | 2 5 9 B F B | 8 7 9 B F B### Re: Raven's Coin Finances

**Tentative Ship's Finances, "Raven's Coin"**

Code: Select all

```
Crewmember Credits Percentage
========== ======= ==========
Litnam 6,000 2.0874
Fusil 48,000 16.6988
Elliott 60,445 21.0284
Geris 173,000 60.1854
========== ======= ==========
287,445 Cr
```

John B. |

**Elliott von Rossveldt**, ship's CCS officer. | 2 5 9 B F B | 8 7 9 B F B### Raven's Coin Finances - 1110/135

**Revised 1110/135**

Code: Select all

```
Crewmember Shares Percentage
========== ======= ==========
Litnam 6,000 1.6786
Fusil 48,000 13.4286
Elliott 60,445 16.9103
Greg 70,000 19.5834
Geris 173,000 48.3991
========== ======= ==========
357,445
Ship's Account: Cr 357,445
Value per Share: Cr 1.00
```

John B. |

**Elliott von Rossveldt**, ship's CCS officer. | 2 5 9 B F B | 8 7 9 B F B### Re: Raven's Coin Finances

We need to rake off half the cash as 'ship's fund' for maint and payments, etc

Keven - Wyott Khade 876CB6 - "He did WHAT with a stick of butter?????"

### Re: Raven's Coin Finances

I'm not sure I follow you?Flonker wrote:We need to rake off half the cash as 'ship's fund' for maint and payments, etc.

I was thinking the entire sum above is the current value of the ship's fund. That, minus the debt of the ship is the net worth of the company,

*Tempest Hawk Ventures and Shipping*. The net worth of the company will be negative for quite a while, but that's to be expected. My perception is that we'd be using whatever portion of the ship's fund as necessary for fuel, other consumables, upkeep, salaries, and speculative cargo. We might have to momentarily drain that fund to less than 50% of its current value at some point along the way, just for fuel or if we need repairs or something. I agree it's best to avoid that.

Continuing, my understanding of that model is that when we get revenue, we then pay any outstanding immediate debts (such as wages), and pay back the ship's fund to its prior level. If we can't make it back to the level it was before the jump, that's a temporary net loss. (We want to avoid that happening

*at all*during the first six months of ship's operations so we build up some breathing room.) If we pay it up to the same level, the rest is profit. Which we then allocate: 50% to the ship's fund (as we all previously discussed), the other 50% split at our discretion between dividends and any bonuses. When profits are big, we might decide to pay more towards increasing the value of the ship's fund, so we know we can afford the overhaul and that first big mortgage payment.

Last edited by forbin on Sat Jan 11, 2014 8:52 pm, edited 1 time in total.

John B. |

**Elliott von Rossveldt**, ship's CCS officer. | 2 5 9 B F B | 8 7 9 B F B### Re: Raven's Coin Finances

Yeah, that 2.2 mil is a lil nutbuster, the 5,5 maint is gonna be a stone plated bitch.

Keven - Wyott Khade 876CB6 - "He did WHAT with a stick of butter?????"

### Re: Raven's Coin Finances

Yup, those are the accurate technical terms for it! Which is why Elliott is trying like hell to find hidden provisions and loopholes for getting any advantage we can out of the fact that the Navy is effectively our financier and doesn't want us to default on the charter/mortgage!Flonker wrote:Yeah, that 2.2 mil is a lil nutbuster, the 5,5 maint is gonna be a stone plated bitch.

John B. |

**Elliott von Rossveldt**, ship's CCS officer. | 2 5 9 B F B | 8 7 9 B F B### Re: Raven's Coin Finances

I just thought of something. The

(value_of_fund + value_of_ship_and_assets - remaining_mortgage) / shares_outstanding = value_per_share

An overhaul is 0.1% of the "cash price" of the ship, according to p.52 of The Traveller Book.

If the 44MCr were the total cost of a standard mortgage, then the current "cash price" of the ship would be 20 MCr, which sounds too low to me. And we already know it is not a standard mortgage because its got a 20 year term, not a 40 year term.

So, let's assume the Navy offered the ship to us at a simple no-interest rate, and the cash price

That works out to only 44,000 Cr for an overhaul! Whew!!

Even if overhaul is based on the cost-when-new, it's still only 443.6 KCr.

There's still the 2.2 MCr payment per year, but I'm breathing easier now.

If it is no-interest, the only benefit to paying more frequently (say quarterly or semi-annually) would be that "a payment already made" is "money that can't be stolen or lost." Also, maybe if we were already current or ahead and needed to be free of the obligation, the Navy might turn us loose if the ship could be resold. Ask me about this in 3 game months and we can decide if it's a good idea or not.

AND... If the value of the ship is exactly equal to the mortgage amount, the actual value per share of stock is the same as what I computed. In the real world, that wouldn't be the case,

*actual*value of a share of ship's stock is:(value_of_fund + value_of_ship_and_assets - remaining_mortgage) / shares_outstanding = value_per_share

*Cost*of ship: 44.0 MCr*Value*of ship: 443.6 MCr new (Navy bought in bulk),*current*value TBD. Read on...An overhaul is 0.1% of the "cash price" of the ship, according to p.52 of The Traveller Book.

If the 44MCr were the total cost of a standard mortgage, then the current "cash price" of the ship would be 20 MCr, which sounds too low to me. And we already know it is not a standard mortgage because its got a 20 year term, not a 40 year term.

So, let's assume the Navy offered the ship to us at a simple no-interest rate, and the cash price

*and*the worth of the ship are both 44 MCr. (GM,*correct me if any of this is wrong! And I'll correct it here!)***please**That works out to only 44,000 Cr for an overhaul! Whew!!

Even if overhaul is based on the cost-when-new, it's still only 443.6 KCr.

There's still the 2.2 MCr payment per year, but I'm breathing easier now.

If it is no-interest, the only benefit to paying more frequently (say quarterly or semi-annually) would be that "a payment already made" is "money that can't be stolen or lost." Also, maybe if we were already current or ahead and needed to be free of the obligation, the Navy might turn us loose if the ship could be resold. Ask me about this in 3 game months and we can decide if it's a good idea or not.

AND... If the value of the ship is exactly equal to the mortgage amount, the actual value per share of stock is the same as what I computed. In the real world, that wouldn't be the case,

*and*there would be periodic appraisals and so on, which would affect these numbers.**But**since the ship's company isn't publicly traded, and since this is a game, we don't have to track things in such a complicated manner! I'm therefore basing the value of the stock purely on the amount in the fund. It lets us easily know how much to sell future shares for (if players want to plow dividends back into shares, or buy more shares). And it tells us how much we could actually pay in cash if a shareholder had to cash out at some point.John B. |

**Elliott von Rossveldt**, ship's CCS officer. | 2 5 9 B F B | 8 7 9 B F B### Who is online

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