I moved into HBHI’s wormhole two months ago. It seems like it was yesterday. Not a day’s gone by that I’ve not taken care of business – whether that was scanning down the day’s static connection to low-sec, managing my Nanite Repair Paste production system, mining or running Sleeper anomalies. It’s been a very busy two months indeed. So the key question is this: how does it compare to running business in high-sec? And perhaps more pertinent to your intrests, what could you expect to make inside a Class 3 wormhole?
When I ran Mabrick’s Mining and Manufacturing [MABMM,] I made a decent amount of ISK. Before the tax changes to PI, I could make a half billion ISK a quarter if I really ground it out and had no unforeseen overhead. In terms of what some industrialists make, it’s not all that much. For a single person corporation with other responsibilities, I was satisfied with it. Here is the last quarterly financial report I gave for MABMM. After this, the PI tax rate increase kicked in and profits went down considerably.
So what does the same report look like for the last two months in a Class 3 wormhole? Well, that’s a bit harder to put a figure on. For one thing, my new corporate tax structure is completely different. HBHI has a 25% tax rate but it is not based on bounties. There are no bounties for Sleepers. HBHI’s tax setting is irrelevant. In fact, for a wormhole corporation the tax mechanism is pretty well totally broken.
How the corporation deals with this is mostly on the honor system and totally manual. HBHI keeps 25% of the value of Sleeper loot and salvage as reported by Aura. We have a formated email report we send to the CEO on how much loot we got and what the breakouts should be (25% to corp, divide the remainder amongst the participants.) It totals all sites run during that operation. He verifies the value of the loot placed in the POS and then pays each participant their share from the corporate wallet. Members get “paid” very quickly. However, the corporation doesn’t realize a profit until the loot is hauled out and sold. HBHI assumes all risk should a gank happen – and it has. The system is not perfect but it works well enough that no one is mad about it.
The issue for me and a cash flow report is those payments are recorded in my journal and not transactions. It’s hard to get an actual accounting especially for assets (EDIT 22:13 Eve Time: assets inside a POS hanger do not show up on a character’s API pull.) With that in mind, here is the balance sheet for my first two months in the hole based on the journal.
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Since I’ve moved into the wormhole, I’ve actually spent a lot of ISK. This was mostly on ships. I had to replace the Dominix we lost the night I moved into the hole. I purchased a T2 fit Megathron for Sleeper anomalies because the Domi wasn’t up to Class 3 anomalies. I also purchased a Proteus and a Nemesis for wormhole defense. I bought a Drake because I wanted one in the hole. As I have yet to lose any of them, they are still assets but are not reflected as such on the above balance sheet. Only their cost is reflected. Their value should cancel their cost until they are destroyed though. In fact, most of the things I bought I still have (ammo and drones being a major exception) so they are all now assets and should be offset.
So you have a better idea of what those assets are, here is my buy and sell accounting sheet. I have totalled assets manually at the bottom.
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I have not included the Mackinaw purchase as that was for the corporation and I was compensated. The bottom line is, I have purchased well over a billion ISK in ship hulls and modules since moving into the wormhole. When you remove those assets from my overall balance sheet, my loss becomes a gain. I have made 786,004,226.18 ISK net profit since I left high-sec. That’s not bad.
[EDIT 21:10 Eve Time: Yes, the images are large and hard to read. Click on one, right click on the pop-out image, select open in new tab and then you can enlarge the image as much as you need.]