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All posts by Cash Yiyuan

Feb 24th 2008, 21:09
Cash Yiyuan 		SL Reports Public Forum » Official Weekly Update - For CEO Posting Only
Re: Official Weekly Update - For CEO Posting Only
Business as usual this week. No one has taken up the offer for SLW shares in exchange for advertising.
Feb 25th 2008, 03:06
Cash Yiyuan 		General Investment Discussion » SLW conversion and frozen account?
Re: SLW conversion and frozen account?
POW and your account was frozen for matters known to yourself Sky - no convenience, just protection for POW shareholders.

Regards,
Cash
Feb 25th 2008, 04:11
Cash Yiyuan 		SL Reports Public Forum » CEO Purchases SLR stock
Re: CEO Purchases SLR stock
Purchased stock
Total 1,102,400 14.2%
Feb 25th 2008, 07:11
Cash Yiyuan 		General Investment Discussion » Buy Me Out!
Re: Buy Me Out!
hehe yes that should buy you a few pixels ;)
Feb 25th 2008, 15:19
Cash Yiyuan 		General Investment Discussion » Another appeal: Please Arb or any other JTF official
Re: Another appeal: Please Arb or any other JTF official
Hello Ivan,

Can you confirm to the JTF Depositors whether you have any money on deposit that was converted to SLW shares, or whether you hold any SLW shares?

If you check through the forums you will see that these questions have been answered or responded to.

Regards,
Cash Yiyuan
Feb 25th 2008, 19:02
Cash Yiyuan 		General Investment Discussion » Another appeal: Please Arb or any other JTF official
Re: Another appeal: Please Arb or any other JTF official
Edited by moderator Feb 25th 2008, 20:42
Update that was posted earlier below answers your questions. Please take particular note of the following quote " I am willing to fully disclose my holdings and strategies with any person willing to sign a non-disclosure and no-compete clause with me "

Hope this answers your questions.
Regards Cash

------------------------------------------------------------


On behalf of my team I would first like to personally thank each of our customers that have given us their vote of confidence and support during the past few weeks - we sincerely appreciate everyone for their patience and perseverence with us.

In reaction to Linden Lab's new Banking Policy declaration we have implemented several changes to help assure that we maintain full compliance with the new rules. We've also implemented and tried several creative methods to try to alleviate the current bank run and help our customers maintain some liquidity during this difficult but necessary transition - including drastically lowering withdrawal limits from 100,000L per day to just 5,000L, and offering Paypal and MoneyBooker withdrawals. Unfortunately none of these initiatives appear to have significantly slowed down the withdrawal rate. In the month since LL's announcement JTF has paid out over L$17M in depositor claims (including two cash injections against reserves of 7M and 3M respectively). Both times these additional funds were drained within 24-hours - clearly an unsustainable trend in spite of our best efforts.

Over the last few weeks we have quietly observed what others in the SL Financial Sector are doing under these circumstances, and after carefully evaluating each of the strategies we've witnessed, have concluded that our best option to expedite the recovery process is simply to aggressively move forward with the business plans we have discussed previously both in the Forums and via my regular blog posts. I specifically want to assure each of you that the $Lindens you have previously deposited in JTF are indeed at work invested in the software development efforts and arbitrage systems I employ. Unfortunately these investments are not easy to liquidate - it will take me several more months to completely wind down some of the investments I've made. It is precisely these types of investments that allowed JTF to consistently and reliably provide a return on capital invested and/or depoisted by our customers during the entire time we operated as a trustworthy SL Bank.

Simply put, liquidating these investments at a loss is NOT an option and would not speed up the recovery process but would prevent us from making our investors whole. As I have stated previously, I am willing to fully disclose my holdings and strategies with any person willing to sign a non-disclosure and no-compete clause with me - the deposits are secure and I will assure a dollar for dollar return of all cash deposits. Therefore, the strategy I am about to discuss is NOT a liquidation but rather an innovative way for us to help provide some instant liquidity for our customers while also allowing my businesses to forge ahead as vibrant and viable ongoing concerns. I will caution that while this particular strategy was not my own first choice or preference, it does appear to offer the greatest opportunity for both nearterm stability and longterm survivability. Please, respond to me directly (arbitrage.wise@gmail.com) if you have any questions regarding this message.

Our immediate objectives are as follows;

(1) - Immediately return SL Capital Exchange to the open-free market trading platform that it was prior to the LL banking ban. Over the last few weeks we have made some significant yet nearly transparent changes to the trading platform - each of these changes helps us provides some level of security and compliance with the LL Policy.

(a) - the Currency Exchange Feature has been removed from the Stock Exchange Simulation platform. Going forward ALL Transactions on SL CapEx must be $Linden-based ONLY. No direct accommodation shall be made on SL CapEx to convert $Lindens to any other Unit of Measure. ALL $L transfers between SL CapEx and In-world Avatars will be accommodated by a solitary ATM machine located in the lobby of the SL CapEx Bldg. We'll send a LM with its location shortly.

(b) - pursuant to LL policy, SL CapEx no longer pays interest on uninvested capital in SL CapEx Cash Accounts. Please keep that in mind as you rotate between investments.

(c) - the CEO Market Maker Commission Program will be re-established effective 03/01/2008 as an incentive for Companies to make and maintain readily liquid markets for its Shareholders.

(d) - the previous Affiliate Program is being completely re-worked... please stay tuned for news regarding a new affiliate Program..

I want to take a moment to thank Bogart Beck, Cash Yiyuan, Kadena Whitfield and all the JT Financial staff for their fortitude during this transition - they have each been resolute and exemplary in their efforts on behalf of the SL CapEx Customers and Investors - thank you!

(2) Immediately commence the launch of the SL Wallet(tm) (SL CapEx: SLW) Transaction Gateway Product Suite. This Brand Strategy is the natural successor to the JT Financial platform with many similar features including a full-feature, secure Currency Exchange ($L <> $USD and other RW currencies) including a complete LL Risk.API implementation as part of our ongoing Fraud Prevention cooperative with Linden Lab. Other Feature-Benefits are outlined in the SLW Prospectus which I've included here for your evaluation and sincere consideration.

(a) - The acceleration of this development effort necessitates that I make a difficult and perhaps controversial decision; at launch ALL JT FINANCIAL CASH BALANCES will be converted to SLW Equity ($L for $L in Stock). This may seem counter-intuitive, however, it will allow for immediate liquidity via the SL CapEx Public Market for those needing access to Funds and are unable to wait for the JTF Investments to mature. Before you jump off the deep-end, please recognize that this is the exact and identical methodology that our competitors are using to achieve near-term liquidity - honestly it is both fair and equitable for all, and, is a proven methodology used successfully day-in and day-out in the RW (Debt-Equity Swaps).

(b) - As our budget allows and free cashflow improves SLW will buy-back shares on the open market to help maintain liquidity and SLW's market cap valuation. Please note, this is not a Bond (GPB) or some fancy Victim Fund (WTF) but rather pure equity in the successor to JTF... many have asked for an opportunity to invest in the Arbitrage Wise enterprise - this is it - I hope you'll take the time to review and consider this company as part of your long-term holding portfolio.
===================================================
The SLW Portfolio Draft is as follows;

<b>Stock Symbol</b>
SLW

<b>Company Name</b>
SLWallet.com

<b>Company Tagline</b>
Payment Gateway for Virtual Worlds

<b>CEO's Real Life Name</b>
Thanh Ho (Interim)

<b>CEO's Real Life Location</b>
Dallas, TX

<b>Board of Directors</b>
Chairman - Arbitrage Wise
CEO - Arbitrage Wise (Interim)
President - Kadena Whitfield
BOD - TBA

<b>Total Shares to Create</b>
85,000,000

<b>Shares to IPO</b>
85,000,000

<b>IPO Price</b>
1.00

<b>IPO Days</b>
Immediate

<b>Cash on hand</b>
5,000,000

<b>Land owned</b>
195,000

<b>Monthly Income</b>
2,000,000

<b>Monthly Expenses</b>
150,000

<b>Name for Chairman's Letter</b>

Legitimizing the SL Financial Sector

<b>Chairman's Letter</b>
Those of you who have known me know that every business I do has to be able to link to Real Life commerce in one way or another. In order to be a large business in virtual worlds, you cannot limit your business model simply to the neither confined metaverse nor Second Life alone, but must venture out and try to capture real-life ecommerce and other virtual worlds as part of your customer base.

SLWallet.com is the next major step in tying Real Life e-commerce and metaverses together. As Second Life grows, the L$ may become more widely accepted as a form of payment for products and services on hundreds or even thousands of websites. In order for these services to accept L$, they will need a third party provider or payment gateway to provide them the necessary services.

As more virtual worlds and metaverses including open source grids become available, there will be a need for these various grids to conduct commerce with each other, thus a need for a currency platform that will allow the conversion of various fictional currencies. SLWallet will strive to stay ahead of the curve, and position itself so that when these new metaverses emerge, we will be prepared and in position to offer a 'forex' for the different platforms.

<b>Business Overview</b>
In order for SLWallet.com to be the payment gateway of SL and eventually other metaverses, it will have to:

1) Obtain a sufficient amount of customers in order to compel 3rd party users and non-SL grid residents to use our services.

2) Be liquid enough so that customers can access their funds at any time.

3) Position itself as an early pioneer in open source grids.

<b>Business Strategy</b>
In accordance with the requirements listed above for SLWallet, the following strategy will be implemented to achieve what is needed:

1) Before LL announced their no banking policy, SLWallet and its affiliate networks had close to 10,000 unique customers. Our target goal is to get 20,000 to 30,000 additional customers by the end of 2008 by offering various services tied into SLWallet, including the SL Capital Exchange, the Wise Property Management, Helpture.com, and SL Market Live. All of these services will use SLWallet as the primary payment system, and leveraging off of theses various businesses should help us acquire the desired customer base.

2) Since LL's ban on banking, we have been in a liquidity crunch that is very tough to get out of. A successful debt to equity conversion will help alleviate the liquidity issues that we currently have by converting the current deposits into SLWallet shares. We are confident that if we can have a successful conversion, we will be able to make all of our investors whole again by the end of the year.

3) From our recent research in January, we have determined that open source grids such as OpenSim and CentralGrid do not have the technology available for a banking or currency operation. However, that does not mean that these possibilities will not become available. Once the technology is sufficient to open a banking system in these grids, SLWallet will position itself to establish a bank and possible currency in these platforms.

Revenue Streams are as follow:
<b>SLCX:</b> Current revenue has surpassed 500,000L per month. If we can get the business to average 750,000L per month by the end of the year, that would mean SLWallet will make 375,000L per month after dividends.
<b>SLR:</b> Our goal is to get SLR to generate an average monthly revenue of 150,000L a month by the end of the year. That would generate 75,000L a month for SLWallet.
<b>Ad Network:</b> Our ad network system was developed to run on all of our ATMs. In conjunction with ads sold on the ATM, we can also generate revenue from licensing or selling the platform for additional revenue. The current system has features such as: 1) The ability to change texture from a web-based admin 2) Ability to give specific items per texture 3) Click-Tracker & Reports. We are confident that if we can expand our ATM network, we will be the first true grid-wide ad network in SL. If we can develop this to where we want, a conservative estimate for monthly revenue is 200,000L.
<b>SLML:</b> We will upgrade the current SLML platform to be a regular ecommerce platform suited for both RL and SL retail. We will then use it to develop a RL vintage retail site, while using Helpture to outsource development of items from RL to SL versions, thus enabling us to sell RL and SL versions of items (with approval of manufacturer). Once small RL retail sees this as an alternative for extra revenue streams, we are confident that this will help foster the growth of our overall businesses. If we can develop this to where we want, a conservative estimate for monthly revenue is 1,00,000L.
<b>Helpture:</b> As SLML grows, we will be able to attract more RL independent retailers looking to get into Second Life. These developers will need a solution to getting items built for the virtual world. Helpture will serve as an intermediary between these users, and will use SLWallet to escrow payments between the developers, and charge a transaction fee to the developer. By combining SLWallet, SLML, and Helpture, we can offer retailers a single solution for getting into Second Life and other virtual worlds. A conservative estimate for average monthly revenue by the end of the year would be 100,000L per month.
<b>WPM:</b> If we can maintain one of the largest customer database in SL, we are confident that there will be higher demand for our property management system. A conservative estimate for average monthly revenue during the 1st year of business is 500,000L a month after dividends.
<b>Currency Exchange:</b> Our currency exchange is stagnant, but still made about 50,000L a month. Once we gain more trust of SL residents as we pull through the liquidity issue, we can expect the numbers to climb to about 200,000L a month.
<b>Google Adsense:</b> We are currently generating about 100,000L a month.

If we can reach these goals, we should make roughly 2.4M a month on revenue. Based on a real world 3-year valuation and assuming a monthly expense of 400,000 per month, SLWallet is worth around 72M (2M x 36months), which exceeds our current liability of approximately 58M.

Ultimately, SLWallet's end goal is to be bought out by a RL company that sees the need to integrate our business with their's, similar to eBay purchasing Paypal. When we have sufficient capital, we will take SLWallet private again so that we can move forward in positioning ourselves to be acquired. In taking SLWallet private, we will pay no less than a 20% premium on current trading prices.

<b>Business Strengths</b>
Our strength is in our Track Record, Numbers, and Diversification.

1) To date, not a single customer has lost money with us. While we are unable to process all withdrawals at this time, we are confident that we will be able to repay all customers money that is owed to them and any interest that they have earned.

2) Once we are able to get through the liquidity crunch, we feel that being one of the few surviving financial institutions will help us acquire more customers since the competition level will be much lower, with a higher barrier to entry.

3) We have many in-world as well as RL businesses that are capable of generating sufficient profits for our investors and shareholders. With multiple businesses in the financial, retail, and service sectors, we feel that SLWallet is well protected from any sudden market changes, including any unforseen LL policy implementations.

<b>Use of Capital</b>
Capital will be used to alleviate the current shortage of capital so that we can rapidly move forward in offering withdrawals.

<b>Risk Factors</b>
While we are confident in our ability to generate a profit from our inworld businesses, there are other outside factors that are beyond our control, mainly any changes in the market environment caused by any new Linden Lab policies.

<b>Management</b>
Business Development and Marketing will be managed by Arbitrage Wise. Day-to-day operations and management will be controlled by our board of directors and management team.

<b>Additional Private Notes</b>
Concurrent with a successful IPO, SLW will disperse Restricted Treasury shares up to 1,000,000 shares to our executive team and staff. Treasury shares may also be introduced into the market as needed to further alleviate the liquidity issues.
==================================================

The primary reason we chose to move forward with this conversion is that in order for any of the above businesses to be successful, a sustainable payment gateway must exist where customers can always have access to their working capital and funds. If we simply carried over our current debt when converting to SLWallet, any new deposits will be immediately drained by current withdrawal demands and will deter anyone from using our services. By converting current balances to equity, we can ensure that any new funds deposited into the system can be accessed immediately. This will also allow current equity holders to liquidate and cash out their investments in the market to new potential investors at their own determined rate.

At the time of this release, our current debt obligations stand at 58.5M Lindens. Once the conversion is complete, our investors will hold approximately 73.125% of SLWallet. We will continue moving forward in liquidating our current investments to bring inject new capital into SLWallet. As new capital is acquired, a 24-hour notice will be made to the public of a share buy back, with a market bid of no less than 1L per share. We will continue to repurchase SLW shares throughout the year until we can bring the value of SLW to 1.25L per share.

We understand that converting our debts to equity will receive a lot of scrutiny from many of our customers and investors. However, this is the best alternative to moving forward. This was not a move that we had ever imagined we would do when we first opened JT Financial. However, given the circumstances, a conversion is a better alternative than leaving our customers in the dark as to when they can withdraw their funds, since we ourselves do not know the timeline for being able to liquidate all of our investments. We are also confident that with the support of our investors and customers, we can provide a return commensurate to what we were paying in interests. At this point, the best thing we can all do is move forward. This is no longer just my business – it is now our business. We are all in the same boat; I ask that you have faith in me to right the ship and make everyone whole again.

This conversion will take approximately 2 weeks to complete as we will need to convert each of the 10,000 accounts manually to ensure that there is a transaction history of debits and credits for each account exists. We will start by migrating balances of dormant accounts with no transactions after 8/1/2007 to an escrow account for reconciliation. If you find that your account was reconciled but is still active, please contact us and we will covert your balances to SLW shares. Once the conversion is complete, we will issue an announcement and business should be able to go back to normal from that point.

We will not initiate the conversion until Friday February 15, 2008 so that people will have sufficient time to allocate their resources as they see fit. We have also started a forum thread under our "General Investment Forum" labeled SLWallet Conversion for Q&A. Feel free to post a question if you have one regarding the conversion.

http://www.slcapex.com/forums/topic/general/1447
Feb 26th 2008, 02:22
Cash Yiyuan 		General Investment Discussion » Another appeal: Please Arb or any other JTF official
Re: Another appeal: Please Arb or any other JTF official
I believe the questions where answered - the answers are written in the profit and loss statements that have been posted.
Feb 26th 2008, 14:13
Cash Yiyuan 		General Investment Discussion » WSE Re&#45;open Pool
Kush Islands delists from WSE
http://sl-virtual-world-news.com/index.php/News/Press-Releases/KUSH-ISLANDS-DELISTING-FROM-WSE.html
Feb 26th 2008, 14:23
Cash Yiyuan 		SL Reports Public Forum » Kush Islands Delists From World Stock Exchange
Kush Islands Delists From World Stock Exchange
http://sl-virtual-world-news.com/index.php/News/Press-Releases/KUSH-ISLANDS-DELISTING-FROM-WSE.html
Feb 26th 2008, 14:47
Cash Yiyuan 		SL Reports Public Forum » CEO Purchases SLR stock
Re: CEO Purchases SLR stock
Small purchase, but a purchase ;)
Total 1,104,811 14.2%



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