SL CapEx Policies
IMPORTANT Please Note - All listed Company Officers are required to understand and fully abide by the policies and procedures as established by SL CapEx. Such policies may be ammended from time-to-time at SL Cap Ex's Sole Discretion.
Any Officers found to be in violation of SL CapEx policies may incur fines, run the risk of having their related companies sanctioned including being HALTED or DELISTED for cause, and may lose their individual SL CapEx trading priviledges.
Sanctions and fines are levied at the sole discretion of SL CapEx Management pursuant to the Rules defined herein. All policies and rulings are rendered and modified at SL CapEx's sole discretion.
Persons having any questions regarding SL CapEx Policies may Open a Support Ticket via this website (Click SUPPORT from the Main Menu). SL CapEx personnel will review and respond on a best effort basis, usually within 24-48 hours.
- -You must be a resident of Second Life for a minimum of sixty days
- -You must have used payment info during your residency
- -Must be fluent in the English language
- -Must have a minimum of 2 Company Directors and 1 Chairman of the Board
- -Must state your policy on the sale of closely held shares within your prospectus
- -In most cases, we will require that you already be in business
- -You must fax or email us a Notarized copy of your ID, Address, and Phone number prior to IPO Funds being released. In the event that you absolutely do not have the ability to fax the document, legible digital scans and digital photographs of the SAME DOCUMENTS will be considered on a case by case basis only.
- -We may require verification of assets
- -We may check your RL Credit Report
- In the event that you will be unable to log in to Second Life for an extended period of time (1 week or greater) you must post an announcement to shareholders stating so
- You must post an earnings report at least monthly
- You must make an announcement no less than once per week in your forum.
ADMISSION
SL Capital Exchange's Listing Guidelines ensures the admission of entities to the official list. These guidelines provides governance, cohesive policies, and regulatory compliance. Listed companies must comply with the Listing Guidelines as a mandatory requirement for admission to the official list.
Listing Guidelines:
SL Capital Exchange's Listing Guidelines are subject to change by the SL Capital Exchange Board's discretion.
The IPO Process
All IPO applicants must be willing to submit a copy of government-issued passport or identification to SL Capital Exchange officials via fax prior to IPO launch. Upon submission of your IPO, it will be reviewed by the SL Capital Exchange Board. You can see from your CEO screen the current status of your IPO and all comments made by the review board. If insufficient information is provided on the IPO application, an interview with the Chairman and/or Directors of the Board is required. Most IPO applications are reviewed within 2-3 business days. You may check your IPO application frequently for requests made by the review board.
Once approved your IPO will enter the queue for launch and will be launched shortly. The length of time between your approval and launch can vary from as little as a few hours to as much as 90 days. This will depend on the number of companies currently on the waiting list. You will be advised upon approval of how many companies are on the waiting list and an estimate of when your company will be in IPO. If your company is not IPOed within 24 hours, then you will be notified before it does so you can prepare.
Once into the IPO process you are allowed to make announcements and operate normally. Upon the completion of your IPO your company will begin trading live if you have met all requirements.
SL Capital Exchange is subject to withhold a portion of IPO issued funds by the review board.
All newly completed IPO will required to pay a 10,000L fee (excluding IPO Commission) to be used to hire an independent financial company to compile a GAAP - Compliant financial template that will include an Income Statement and Balance Sheet.
Requirements
The following are requirements put in place that all listed companies must follow.
Trading Removals, Halts, & Restrictions
Repeated or Excessive default on CapEx rules and regulations may result in disciplinary action up to involuntary delisting from the exchange at the discretion of management
News Posting Policy
In order to prevent any dilution of the importance of news posting, the SL Capital Exchange will now implement the following rules for posting news:
All news postings must pertain to the operations of the CEOs' respective businesses only. All company or shareholder updates, opinions, or discussions must be posted in the forum or via company groups.
Please encourage your company to use the company forum as the number one form of communications, so that there may be records of discussions and interactions for shareholders that may not have received your group updates.
'News' posting should be only for immediate and pertinent information to inform shareholders of anything that may directly affect stock values.
Please contact any SL Capital Exchange staff member for more information.
Financial Posting Policy
-Monthly financials must be posted by the 10th of the month at 11:59pm SLT.
-Financials must be posted using a GAAP-Compliant template provided by the SL Capital Exchange, and must include both an Income Statement and Balance Sheet.
-If financials are not posted, CEO assets will be frozen on the 11th of the month at 12:00am SLT, including but not restricted to funds and shares held with CapEx.
-CEO will be fined 5000L per day or the equivalent in shares for each day after the 10th of the month until the day of financial postings, up to the 30th of the month.
-Penalty fees are paid through the following accounts: trading cash balance, bank cash balance, share reduction of listed Company and/or invested companies from personal portfolio, etc.
-Company trading will be halted on the 15th of the month.
-Notice of Default will be issued on the 20th of the month.
-Company will be delisted on the 30th of the month
-Final Shareholder list will be posted in forum
-Company CEO and Directors' accounts will be frozen and not allowed to trade. Once a Company has been delisted, Directors accounts may be unfrozen through petition under the discretion of the CapEx's Executives.
-Company CEO and Directors will be banned from exchange. Directors' ban may be petition at discretion of CapEx's Executives
-Any Alternate accounts found will be frozen with all assets confiscated