Raven's Coin Finances

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dragoner
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Re: Raven's Coin Finances

Post by dragoner » Wed Dec 25, 2013 10:59 am

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

forbin
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Re: Raven's Coin Finances

Post by forbin » Wed Dec 25, 2013 9:20 pm

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.
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

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Flonker
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Re: Raven's Coin Finances

Post by Flonker » Wed Dec 25, 2013 9:43 pm

Fusil will chip 50K
Keven - Wyott Khade 876CB6 - "He did WHAT with a stick of butter?????"

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Re: Raven's Coin Finances

Post by forbin » Wed Dec 25, 2013 9:56 pm

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

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Re: Raven's Coin Finances

Post by forbin » Wed Dec 25, 2013 10:22 pm

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
I computed percentages to 4 places after the decimal since we have 6 places of actual credits. That's roughly within +/- 14 Cr for each person. As you can see, the computations are based on each of us chipping in Cr 2k each for Litnam's shares and not requiring him to make any pay in. Obviously, if we make enough profits going forward, Litnam (or anyone else) can plow any part of their dividends or bonuses back into their shares... at which time we will recompute.
John B. | Elliott von Rossveldt, ship's CCS officer. | 2 5 9 B F B | 8 7 9 B F B

forbin
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Raven's Coin Finances - 1110/135

Post by forbin » Sat Jan 11, 2014 7:19 pm

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
Here's the ship's finances after Greg's buy-in, and before we start spending money. Notice I'm now showing shares instead of credits, and showing the value of a share. That'll give us a little more visibility into "how we're doing."
John B. | Elliott von Rossveldt, ship's CCS officer. | 2 5 9 B F B | 8 7 9 B F B

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Flonker
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Re: Raven's Coin Finances

Post by Flonker » Sat Jan 11, 2014 7:39 pm

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?????"

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Re: Raven's Coin Finances

Post by forbin » Sat Jan 11, 2014 8:45 pm

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

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

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Flonker
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Re: Raven's Coin Finances

Post by Flonker » Sat Jan 11, 2014 8:50 pm

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?????"

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Re: Raven's Coin Finances

Post by forbin » Sat Jan 11, 2014 8:54 pm

Flonker wrote:Yeah, that 2.2 mil is a lil nutbuster, the 5,5 maint is gonna be a stone plated bitch.
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! :D
John B. | Elliott von Rossveldt, ship's CCS officer. | 2 5 9 B F B | 8 7 9 B F B

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Re: Raven's Coin Finances

Post by forbin » Sat Jan 11, 2014 9:11 pm

I just thought of something. The 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, please correct me if any of this is wrong! And I'll correct it here!)

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

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