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[PHX]

New update

NXTI released 300k nxt from escrow. I set up a buy wall at 0.1 nxt per share, and will be selling back at 0.101 for a total value of 100k nxt, which will insure a market peg of 1% and the liquidity i promised.

The remaining 200k nxt was sent to an exchange to start trading.

Now here's the plan for now: a big chunk of the trading profits will come back to the account and i keep increasing the buy/sell walls as much as possible. Also, 1% of the coins i buy into will be kept in holding for a long time. Remember, it's very important to understand that through Phoenix i'm INVESTING and not speculating. I will only buy and hold on to coins which we consider to have a long term potential.

We are also making good progress with the exchange we plan to release the rest of the shares on. For now, i don't want to release them on the exchange but i need to have one ready for when i will.

My priority right now is investing and setting up the peg.

Also, i won't bother to inflate the thread each time i make a new move. All those who wish to see what's going on can look into the issuing account and see all that moves there.

I'll let you know if anything changes or when we're going live on the exchange or if we start to use the funds for other things as well. For now all i stated above is the main plan and i will keep building on top of that in time.

I'm sorry it took so long to get things moving but i needed to make sure all is set up properly. I can't afford to play with my investor's money.

[printshop]

Hello all,


Despite my silence in the past couple of days, that doesn't mean that i haven't been working

How about you just share with us the basic details of what you are doing re: business plan and prospectus?

Frankly if you can't provide these two incredibly basic pieces of information I cannot understand why anyone would invest with you. A NXTinspect voucher cannot be enough, other than the fact that it is basically NXTinspect, it's officers and direct clients which bought out your IPO.

Perhaps this is the reason for your abrasive attitude towards these basic questions; you don't really care about disclosure since you have already been bought out by insiders.

As a community we need to move beyond the kind of BS promulgated by assets like Phoenix and move towards a sort of standard where businesses are actually responsible for what they say and claim.

For one. Just for one. Are you going to publish (at least) quarterly financial statements?

Beyond that I would really love to find out what kind of social responsibility initiatives you are going to pursue in this community.

[weekendwarrior]

Hello all,


Despite my silence in the past couple of days, that doesn't mean that i haven't been working

How about you just share with us the basic details of what you are doing re: business plan and prospectus?

Frankly if you can't provide these two incredibly basic pieces of information I cannot understand why anyone would invest with you. A NXTinspect voucher cannot be enough, other than the fact that it is basically NXTinspect, it's officers and direct clients which bought out your IPO.

Perhaps this is the reason for your abrasive attitude towards these basic questions; you don't really care about disclosure since you have already been bought out by insiders.

As a community we need to move beyond the kind of BS promulgated by assets like Phoenix and move towards a sort of standard where businesses are actually responsible for what they say and claim.

For one. Just for one. Are you going to publish (at least) quarterly financial statements?

Beyond that I would really love to find out what kind of social responsibility initiatives you are going to pursue in this community.

how about you pay people the money you owe them, fat boy? 

[TwinWinNerD]

Can you please buy the 613000 phoenix on the exchange that are listed below issuing price?

[starfishi]

-

[PHX]

Can you please buy the 613000 phoenix on the exchange that are listed below issuing price?

Done 

You didn't have to put them up under the issuing price you know... i promised to pay the real NAV for them and i always will...
Anyway, the buy wall has been increased.

My first investment is starting to show results already, and hopefully by this time next week i will be able to take out part of the profits and re-increase the buy wall.

I hope all are happy so far, and even those who wanted a quick get-away i hope i managed to satisfy with setting up quick buy walls 

[TwinWinNerD]

Thank you.

[cryptoventurefund]

.

[printshop]

Can you please buy the 613000 phoenix on the exchange that are listed below issuing price?

Done 

You didn't have to put them up under the issuing price you know... i promised to pay the real NAV for them and i always will...
Anyway, the buy wall has been increased.

My first investment is starting to show results already, and hopefully by this time next week i will be able to take out part of the profits and re-increase the buy wall.

I hope all are happy so far, and even those who wanted a quick get-away i hope i managed to satisfy with setting up quick buy walls 

What you have promised is impossible because some of your investments will be illiquid, non-performing, and so forth. The only way I have been able to do a similar thing is to donate tens of thousands of NXT towards liquidity, and even then investors don't want to price that into the shares of my fund. How can you keep such a promise without doing something similar? What percentage of your fund can you buy back at issue price?

[PHX]

You have a fair point there printshop, but i'll tell you exactly how things are atm : i can currently afford a buy wall of 300k nxt , which is 30% of the fund. In time, as the investments grow, so will the buy wall. I will never be able to give 100% liquidity because i promised to always give people the real asset value price for their shares. So, what i'm saying is that atm i can cover 30%, and regardless of how much the fund grows, i will still have only 30% available for coverage because i have to put in the buy orders according to the NAV. Am i making sense so far?

In time, if i don't need to have a lot of capital for investing, and there is need for a bigger buy wall, i can easily take out a part of the investment funds to buy back the shares.

So what i'm basically saying is that people will always have a way out and will always get the 100% accurate buyback price from me.

Oh, and if the NAV is above share issue price, so will my buyback price.

[PHX]

Just a quick update.

My investment so far is growing bit by bit each day. I will set the new NAV price quite soon, but i'm still waiting because i'm expecting an outburst on a coin i invested in and i wouldn't like to set a NAV that doesn't reflect the true price of Phoenix.

[chanc3r]

150k NXT released from Escrow for further investments @ request of PHX, approved by whale.

[printshop]

150k NXT released from Escrow for further investments @ request of PHX, approved by whale.

Why was it approved? There have been no operating results or information from this company whatsoever since it was founded. If you're going to approve 150k here, 300k there, with no operating results, you might as well release the whole thing.

[whale]

I've spoken to PHX and everything seems to be on track. An update will be posted soon (they are busy over Easter).

All I can say is that the fund is up. I'll let PHX break it down for everyone.

[starfishi]

I've spoken to PHX and everything seems to be on track. An update will be posted soon (they are busy over Easter).

All I can say is that the fund is up. I'll let PHX break it down for everyone.

indeed, up or down, is the question here . .   
(if he´s to busy "over easter", he shouldn´t issue an asset in the first place, me thinks . . )

[whale]

I've spoken to PHX and everything seems to be on track. An update will be posted soon (they are busy over Easter).

All I can say is that the fund is up. I'll let PHX break it down for everyone.

indeed, up or down, is the question here . .   
(if he´s to busy "over easter", he shouldn´t issue an asset in the first place, me thinks . . )

The asset was issued at the end of February. He has been trading since then. They just took 4 days off over Easter.

[futurist]

I've spoken to PHX and everything seems to be on track. An update will be posted soon (they are busy over Easter).

All I can say is that the fund is up. I'll let PHX break it down for everyone.

1.5 hours later...250,000 phoenix assets purchased by an account that is #2 hodler of NXTInspect???

[shin]

I've spoken to PHX and everything seems to be on track. An update will be posted soon (they are busy over Easter).

All I can say is that the fund is up. I'll let PHX break it down for everyone.

1.5 hours later...250,000 phoenix assets purchased by an account that is #2 hodler of NXTInspect???

Of course, insider information? Please, continue withelding it until a big chunk of the whole assets percentage is sold.

[PHX]

I've spoken to PHX and everything seems to be on track. An update will be posted soon (they are busy over Easter).

All I can say is that the fund is up. I'll let PHX break it down for everyone.

1.5 hours later...250,000 phoenix assets purchased by an account that is #2 hodler of NXTInspect???

Of course, insider information? Please, continue withelding it until a big chunk of the whole assets percentage is sold.

I don't think you know what insider trading means ... let me break it down for you : insider trading is considered buying or dumping shares BEFORE a major announcement is about to be made, and not after. Even though that account is the second largest holder of NXTI , i can't confirm that it's either of the founding members , and even if it was... the buy has been initiated AFTER Whale announced that the fund is up. Also, 250 000 assets are a mere 25 000 nxt, which is 2.5% of the Phoenix fund total value... so please stop pointing fingers for every small detail and focus on what really matters : am i making money for Phoenix or not?

Speaking of, the answer is YES !

I will now break down the investments and profits so far:

1. Dirrect BTC investments have yealded us a total of 1,4 BTC equity -> 2.6% profit
2. Other BTC/altcoin investments that i have yet to close but current value is 1 BTC above the purchase value -> 2% profit
3. Other investments that are soon to give a payout (this week) will give us 0,5 BTC -> 1% profit

Given the fact that i practically invest with a mere 40% of what i should because i repurchased a lot of shares to give the investors a possibility to sell their shares fast and fair... i'd say i did quite ok.

The value of the fund is up by 5,6% in a month. I could say that the return is above average in comparison to other assets, and a 5% monthly grow will insure an exponential growth as intended.

The fact that i'm quiet and don't do daily updates on the thread doesn't mean that i'm not busy at work researching my next opportunity to invest. A sure investment takes a lot of time and research before one jumps in.

I hope that the investors will be happy with the update, and with the fact that i stay true to the mission.

The selling and buying price of the shares will be adjusted according to the update.

[whale]

I've spoken to PHX and everything seems to be on track. An update will be posted soon (they are busy over Easter).

All I can say is that the fund is up. I'll let PHX break it down for everyone.

1.5 hours later...250,000 phoenix assets purchased by an account that is #2 hodler of NXTInspect???

Initially some people complained about the initial assets being sold too quickly. Investors have now had months to get a position at the original rate and now I'm buying again. It was only 25,000 NXT. I plan to buy more over the coming weeks (personally. that is not investment advice).