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All posts by Lindsay Druart

Feb 27th 2008, 03:54
Lindsay Druart 		SL Capital Exchange Archive » Ideas to be put on the table
Re: Ideas to be put on the table
1-59 would take a 14 days turn around and 60-119 would take a 7 day turn around.
Feb 27th 2008, 11:42
Lindsay Druart 		SL Capital Exchange Archive » Ideas to be put on the table
Re: Ideas to be put on the table
Scott, I understand you want a dividend, but that is not the focus here and your proposal says nothing about the depositors.

Bottom line, the depositors have much more invested than the shareholders and I cannot rightfully pay the shareholders a dividend while the depositors suffer so until this is straight, no dividend.
Feb 27th 2008, 11:58
Lindsay Druart 		SL Capital Exchange Archive » Ideas to be put on the table
Re: Ideas to be put on the table
Reading over that again, Scott, there are a few problems...

Settling on .025/share dividend is a guaranteed ROI which is against the Linden Lab policy. Also, to guarantee that dividend with no hint of information on the profit for the month would be long term monstrous. And there is no way for the dividend system to only pay to certain shareholders and I am not sure that is really fair as those people as shareholders too. Maybe not the company alt but everyone else rightfully earned or purchased their shares. I don't really see how this plan benefits the depositors in any way shape or form.

As far as ServMe's comment, I would say that the dividend would be at least 20% of the month's profit no matter what was paid out that month and that percentage would gradually increase once the payouts tapered off. This way SOME form of dividend is paid without breaking the bank so to speak. As we are still liquidating USD assets, only about another $1500-$2500 left, not sure off the top of my head so that will be where most of the funding would come from. The only reason dividends aren't payable now is because those funds are wrapped up in the alt which is paying out the depositors and the withdrawal limits make getting to that very hard.

Did that answer your question ServMe?
Feb 27th 2008, 12:00
Lindsay Druart 		SL Capital Exchange Archive » Ideas to be put on the table
Re: Ideas to be put on the table
Maybe I am just misunderstanding Scott. I really don't see where the 2-4m is coming from. Can you put it down in numbers for me please?
Feb 28th 2008, 08:23
Lindsay Druart 		SL Capital Exchange Archive » Ideas to be put on the table
Re: Ideas to be put on the table
Ok, that increases the stock value but does not put anything back into the company. Sure, the investors would benefit definitely but I don't see the other benefit. If there is one, I am clearly missing it.
Feb 28th 2008, 08:28
Lindsay Druart 		General Investment Discussion » RL or SL?
Re: RL or SL?
Very interesting....I kinda of see Citibank as one of the failures. $10 billion in loses for 1 year is a lot to swallow.
Feb 28th 2008, 12:31
Lindsay Druart 		SL Capital Exchange Archive » Ideas to be put on the table
Re: Ideas to be put on the table
The issue here, Scott, which manifested when we opened on the market under Investor Allen, because of his visions of the market place, putting traffic over investor comfort, we were forced to put 200% more shares on the market than intended initially and I vowed to shareholders back in July or August that I would commence an incremental buy back to get the open float down to 5 million. We got to 6 million and I still have plans to go down another million in the future. Because that long term buyback was agreed upon by the shareholders then, it would be counter productive and make me out to be a liar to put those shares back out that now.

Ragged made a good point that the market is way too illiquid right now for a secondary to heed much. Also, that is bordering on a ponzi for me to put more shares out to pay back the balances of depositors.

Kahai, I did put the link to this thread to the bank group as well as posted a vote in the group to see how the depositors feel because this affects them way more than the shareholders. Again, I don't want anyone ousted and I certainly do not want to have a WTF, SLW, GPB issue here. I have worked too hard to back track and for the most part, I have always done my own thing and not followed the masses and this time is no different.

I am confident in the 120 day long term plan as I have come up on some tremendous opportunities to reinstate a small RL portfolio as before and we are vested nicely with our SL portfolio as well. The tools for profitability are there but are moving at a snail's pace due to this little stumbling block. It's actually a major stumbling block but with the right thought process and understanding it is miniscule in the scheme of things.

Thank you all for the information. All of these minds are definitely better than one.
Feb 28th 2008, 13:06
Lindsay Druart 		General Investment Discussion » RL or SL?
Re: RL or SL?
That is interesting but granted, SL banks have about .0001% the disposable assets of Citibank. Not to mention,

*Citibank is a 24/7 bank, SL CEOs are mostly part timers.
*Citibank can bring in as much money a day as they want, SL CEOs have Linden limits.
*Citibank actually has someone to go to for assistance, SL CEOs have each other....
Feb 28th 2008, 13:24
Lindsay Druart 		SL Capital Exchange Archive » Ideas to be put on the table
Re: Ideas to be put on the table
On deposit right now is about 6.7 million but that is not differentiating what was deposited after the ban which is around 100-200k. USD is around $400. I had thought about percentages but there is little systematic way to do that so I resulted to the withdrawal limits instead for the time being. I would consider the promissory note as well as conversion to Charter Member status for the credit union.

I have no problem with that at all. Options are open and I know no two people may want the same thing so it is unfair to force the same thing on everyone. Anyone wishing to have their account handled differently than the masses is open to discuss options and alternatives with me.
Feb 28th 2008, 13:29
Lindsay Druart 		SL Capital Exchange Archive » Ideas to be put on the table
Re: Ideas to be put on the table
Good idea Iventures. I will mull that over with Sully.



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