Chapter Six: All the shareholders together?

[BackworldTraveller]

Parait

While looking through the cabinets for the key that allows the print bed to be unlocked, you come across a case that contains 24 identical, translucent, really heavy 100mm(ish) copper-coloured hexagonal rods each about 300m long. Each is carefully wrapped in plastic cushioning. You have no idea what they are, but the case moulding has "Zuchai" stamped by the handles.

Despite this distraction, you manage to find the key and complete the task. The print takes nearly an hour and when completed, you are able to clean it up and replace the burned out board.

[ateno]

Parait
.... Each is carefully wrapped in plastic cushioning. You have no idea what they are, but the case moulding has "Zuchai" stamped by the handles.

Pranit searches for the name and finds the name of a crystal maker.

<"How odd." >

Pranit checks to see if there is a local outlet near by and packs crystals back away.

[cybersavant]

Reven Stiilpahth "I checked the Queen's logs. Arnwulf is following up on what i found. I checked vectors and ports of call. Several things stand out -
1) While the Queen ran courier business, she took more trips to Sulphur and Sapphire than a belt ship with lousy rad protection should really do (but that was one of the factors that lost the Queen the PLDES contract - risky courses, long travel times - and the fact that you all spent days in the safe as the best rad shelter); and the last trip in system stopped at Sulphur too.
2) There were more course alterations within 50,000km of asteroid C9633-0128-266 than could be called random - and it's a nothing asteroid. One Nav beacon and automated RADAR station. Not even a manned maintenance station.
3) The ports of call were everywhere. Every planet was visited at some point. As were all the major belt bodies. PLDES messages went everywhere - but he kept the pattern up as a Tramp too.

[joertexas]

Reven Stiilpahth "I checked the Queen's logs. Arnwulf is following up on what i found. I checked vectors and ports of call. Several things stand out -
1) While the Queen ran courier business, she took more trips to Sulphur and Sapphire than a belt ship with lousy rad protection should really do (but that was one of the factors that lost the Queen the PLDES contract - risky courses, long travel times - and the fact that you all spent days in the safe as the best rad shelter); and the last trip in system stopped at Sulphur too.
2) There were more course alterations within 50,000km of asteroid C9633-0128-266 than could be called random - and it's a nothing asteroid. One Nav beacon and automated RADAR station. Not even a manned maintenance station.
3) The ports of call were everywhere. Every planet was visited at some point. As were all the major belt bodies. PLDES messages went everywhere - but he kept the pattern up as a Tramp too.

Indrani considers that information for a moment. "Very good. We will come back to that. What did you find in regards to the Queen's state of repair, and do you have any estimates of what it might cost to repair what you did find?"

[cybersavant]

Reven Stiilpahth


"The workshop is clearly untouched since the combat. All the stores are present on the cupboards and the machinery is all there. The only issue will be vacuum-welding on some of the parts - so careful disassembly, cleaning and reassembly of the mechanical gear over the next few days looks to be in order. There is even bar-stock for the printers and spare heads for the cutters. A full toolkit for each of Mechanical, Electronic, Plumbing & Hydraulics and Life Support jobs are tucked neatly into racks under the work-benches. The Navy's hit is easy to see - as the cause of the failure of the port power-circuit becomes obvious - Hull plate embedded in the power-control unit. We're going to need a new one. And the maneuver drive is old - parts will be scarce."

[Stirling]

Tiberius

Taps few notes into the keyboard on his laptop.

"Thank you. Actually I have a visual here of the interior inspection taken at the time the ship was handed over. So you can see the state the ship was left in and some of the damage sustained from the Naval hijack of the vessel.

The damage and subsequent losses are severe though thankfully most is cosmetic."

He turns the screen so folk can get a better view.

"So may I ask a couple of follow on questions. Firstly that all the police investigation into the drug horticulture is complete and that issue has a line drawn under it as far as the ship is concerned going forward. Notwithstanding that more probing into the deceased people is expected.

Secondly, we have previously expressed an opinion to sue the Admiralty for damages and wilful neglect of the Queen whilst impounded under their court directive. Is that some we can agree to take forward?

My own thought is that we should pay in full our debts to Rigsby & Sood immediately and continue to engage with them on legal matters."

[The Bindoner]

Nālani studies the images intently. Please, send me a copy of those files, they will be useful for my study of the hull. The damage may be cosmetic, we shall see once I inspect the frame. After all, we do not know what else the Navy did. How did they board? How did they secure the ship, and how did they tow it? All these things can impose stress and damage. That is why we need to interview the officers responsible and access the full records.

I am determined that the Navy and Port should make good the harm they have done. The ship cannot be accepted as handed over until it is restored to the state they stole it in. Nālani's smile is almost predatory enough to become a sneer I intend to add the cost of our time, labour and expenses to the bill.

As to Rigsby and Sood, it appears they have done good work, I have no objection to paying them to continue with it.

[joertexas]

Indrani lifts her hand again. "Ladies and gentlemen, although there are many issues to cover, let's confine our comments to the issue of how much we need to bring the Queen back to flying status. Once we have a reasonably precise amount, then we can discuss how we will go about raising the funds. So far," she taps on her handcomp, "We have 119,000 credits in repairs to cover. As for the fees, I will tell the port where to stick their bill for that. Comments on the repair costs only, please?"

[Stirling]

Tiberius

"Okay let me take the direction forward then.

I think it best if we let Captain Carter and the crew with their specialisms, Mr Stiilpahth for instance with his engineering background, Miss Nirashi and her pilot skills, they together take the refit project forward. Perhaps between you, agreeing which facet of repair is prioritised and in which order. The hull structure over engine, the M-Drive over updating software. Do a 1 to 10 work list and take each in turn as you see fit.

It is going to take further qualified inspections to provide accurate assessment of what needs fixing at what cost. I feel we ought to trust those skilled to manage areas of responsibility within the budgets we can raise.

I believe we have an up to date Queen finances account which suggests we balance at $200kcr. That being true I would like to motion we pay our legal debts to R&S forthwith leaving the petty cash balance to cover the immediate repairs. If we pass that motion Reven can clear the invoice and these initial concerns get tackled."

He looks round the table for assent.

[joertexas]

Tiberius

He looks round the table for assent.

Indrani nods. "Agreed."

[BackworldTraveller]

Archana
So, my concern here isn't so much with the money going out, but with that coming in.

With Jinga in Hospital, and Assana heading to college, we have two ways of funding this - from Dividends or by Selling the Shares. And I'm not sure that I could sell the shares at fair value until there's a dividend; as I sure the Banker here will agree

R.R. Sabbana
Talking of which, what value would you bankers place on shares at present. A clear, up-to-date valuation would be useful.

Cloudbank
Ah, well, the value mentioned yesterday is back on the table should you want it. Cr500k.

R.R. Sabbana
I should have said an up to date, and fair valuation.

Cloudbank
Hrmph

[The Bindoner]

by Stirling » Mon Jan 25, 2021 5:27 am

Tiberius

It is going to take further qualified inspections to provide accurate assessment of what needs fixing at what cost. I feel we ought to trust those skilled to manage areas of responsibility within the budgets we can raise.

I believe we have an up to date Queen finances account which suggests we balance at $200kcr. That being true I would like to motion we pay our legal debts to R&S forthwith leaving the petty cash balance to cover the immediate repairs. If we pass that motion Reven can clear the invoice and these initial concerns get tackled."

He looks round the table for assent.

Nālani Shiraishi nods to signal agreement.

As the bankers and lawyers talk something causes her to look annoyed and she takes out her comm, fiddles with it, dismounts and replaces the battery, fiddles again, makes a "Tcha!" noise and removes the power unit again.

Apologies, I am afraid my comm has failed. I will buy a new one when this meeting adjourns. This means I will be delayed starting the densitometer survey and reliant on this unwieldy device - she indicates her slim, lightweight holo-editing computer - for communications temporarily. I am casting its address to this room for anyone who needs to contact me.

She activates the holo-keyboard on the device, rapidly searches for the devices in the room and handshakes them, connects to her HUD, closes all connections except that, deactivates the projected keypad, sits back in her neat upright posture and returns her full attention to the room..

[Stirling]

Tiberius O'Hare

Folds his own laptop down, saving the inspection videos for viewing during any adjournment.

"I can see Nalani you are quite gifted with all the gadgets, gizmo' and glasses. Maybe we should capitalise on those and appoint you in terms of media relations for the Queen. A much prettier face than me to front any press briefings and we are in need of raising a positive profile for the ship.

Now to answer your concerns Mrs Busai. You are of course free to accept Cloud Banks offer to purchase your holding from Amadou here. Your share is justifiably worth as much as someone will pay for it. In terms of investment, normal trading returns an annual dividend between 3 and 5%. That equates to circa $40kcr per share.

Do we carry we presented motion forward?" he looks around for the show of hands and verbal vote of Noor in regard to the paying debt and petty cash use.

"As far as raising investment income, we have a number of options though I think the pursuit of finances should be put in the context of what the ship is actually used for.

I would hope the historical smuggling ventures are left behind. But do we refit for trade or another purpose?

Indrani may I hand back to you."

[cybersavant]

Reven Stiilpahth "I also agree to pay off the legal debt; and to ask them to pursue the case of punitive charge for the lack of care given to the Queen while in dock. That's a sure-win case there, and a tidy sum, i figure."

[joertexas]

Reven Stiilpahth "I also agree to pay off the legal debt; and to ask them to pursue the case of punitive charge for the lack of care given to the Queen while in dock. That's a sure-win case there, and a tidy sum, i figure."

"So, the crew has permission to use one hundred and nineteen thousand credits for our immediate repairs," Indrani says. Reven, I agree with you concerning the legal debt and the punitive charges. Do we still need to decide on the shares value?"

[Stirling]

Tiberius O'Hare

Do we still need to decide on the shares value?"

"The value of the shares are actually worked out based on the material physical value of the ship and the potential future value of its trade. Various mitigations increase or decrease value compared to risk and reward such as volatile market cargo, economic slowdown. You can add value by adding larger cargo decks, security armaments, luxury client berths.

We lose value by getting shot at, impounded and embroiled in illicit affairs. Though in the light of recent revelations that may play to our advantage and increase our value as an investment asset.

Practically my $12Mcr bought 1/4 share in a ship worth $48Mcr, each share being of $1Mcr. That is the basic notion. If the ship strikes gold and opens a new trade route and becomes valued at $80Mcr then my quarter share is worth $20kcr. Someone else can do the maths of what 1/48th of $80M is worth. Crash land and junk out for spares and repair and each share could be valued at diddly squat.

But answering the question, the average stock market price you hope to realise is in the region of $1M. The Queen though in present circumstances must be rated below that figure."

[BackworldTraveller]

Cloudbank
Accounting depreciation at 1% per annum would suggest that the asset value of the ship is about 66% of what it used to be. Less lack of maintenance, lack of licence and notoriety and you get to our offer of 50%. Of course if the depreciation were covered by cash reserves, the valuation would be higher - but those have been distributed as Dividends over time.

[Stirling]

Tiberius O'Hare

"OK so you want to hoover up the shares of sellers. Then what. You rival other major stakeholders but must have a plan in place or trust us in our decisions for you. No one buys stock heedlessly.

Tell us all your thoughts?"

[BackworldTraveller]

Cloudbank
We would buy to sell at a profit. A corporation with greater resources than yours would make a better use of the vessel. For you the aim is to provide a home and an income. That gives us a poor return - long term. The capital drifts to nothing.

Alternatively, we sell our interest to you. You'd need a Standard Ship Mortgage to fund it - There are many providers. We would be happy to do this at Cr 600,000 per share. We take our investment out and leave the risk elsewhere.

Or perhaps Mr Maputo's QotB company may like that offer.

[BackworldTraveller]

R. R. Sabbana
Well, If the ship is buying back shares at 600K, I'd have some of that!