All posts by Samantha Goldflake
| Nov 5th 2007, 07:41 Samantha Goldflake |
Brautigan & Tuck Holdings Public Forum » Commentary on the Financials? Re: Commentary on the Financials? |
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| In response to Jimmy Bligh: "SLCapEx, WSE, DSE, ISE & VSTex all use the SLEC?" While at the VSTEX we commend the efforts geared towards building a more transparent and scam/fraudless securities market, there isn't any relationship between us and the SLEC and there won't be one for the foreseeable future. At a later stage this may change. Right now we follow our own vision, while we stay open to suggestions. Samantha Goldflake Vstex Communication and Public Relations Dept. http://www.vstex.net |
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| Nov 6th 2007, 05:10 Samantha Goldflake |
General Investment Discussion » VSTEX press release (6 November 2007) VSTEX press release (6 November 2007) |
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| (Our apologies if this is the wrong forum or if such press releases are not welcome) Today, the ACE (Ancapistan Capital Exchange) company prospectus was brought to our attention. Since the ACE website is still unavailable, we found a copy of the aforementioned prospectus in Google's cache. http://209.85.129.104/search?q=cache:9QFGSdN0xKQJ:www.ancapex.net/symbol/ACE/profile From there we read: [i]"There are now four stock exchanges in SL, WSE, SLCapex, ISE, and VSTEX. However, none of the newcomers have caught on sufficently to raise the bar for exchanges in SL, or done anything to bring new capital into SL."[/i] We don't know if "we raised the bar" and actually we don't care. To us, securities markets are not a competition between stock exchanges. Our aim is to provide a robust trading platform where businesses and investors can meet. When one of our "competitors" moves in the direction of safe, fair and honest business, we commend it for we do care about the SL financial community as a whole. As for bringing new capital into SL, we believe that so far our job was pretty good. The VSTEX is now buzzing with activity and our trading room is really growing. Right now we have 6 companies in pending status, waiting for their IPO to start. Not to mention the fact that we're the only ones so far catering directly to the Italian community and day after day new investors enter the financial market. We also read: [i]"The other exchanges do not understand why exchanges must exude a sense of stability, security, trustworthiness, to inspire the public to feel confident in the market and their investments there. Nor do they understand or accept the need for a higher authority, albiet a laissez faire one, to be a check on potential excesses, to set standards of behavior, and to enforce contracts."[/i] We wonder from where they get the idea that other stock exchanges do not want stability, security, trustworthiness. Because they refuse that "higher authority"? We speak for ourselves and we say that an authority is needed when the actors do not want to self regulate themselves. Over at VSTEX we place stability, security, trustworthiness at the very first place. In order to achieve those targets, we do have our own rules and we'll happily adopt any rule from any real virtual or real stock exchange that will help us in that endeavour. Who wants to, can carbon copy our rules. Then: [i]"any company needing a full sim of land must buy their sim through the Ancapistan estates, so that ACE can protect the assets of its investors via contract enforcement. If a company goes out of business, their land can be reposessed for disposal to repay investors"[/i] That may be a viable option to protect investors, however kinda turns the stock exchange in a sort of "land baron" and forces a land monopoly over listed companies. That's not a thing everyone is comfortable with. The VSTEX is against this kind of documents, where competitors are put down with no good reason and where facts are twisted. We feel that such low marketing tacticts should be left to "Honest John Used Cars" kind of businesses. Apologies to all of the honest Johns selling used cars... |
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| Nov 6th 2007, 05:11 Samantha Goldflake |
General Investment Discussion » VSTEX press release (6 November 2007) Re: VSTEX press release (6 November 2007) |
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| Sorry, I did not sign the press release. Samantha Goldflake Vstex Communication and Public Relations Director http://www.vstex.net |
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| Nov 6th 2007, 14:53 Samantha Goldflake |
General Investment Discussion » VSTEX press release (6 November 2007) Re: VSTEX press release (6 November 2007) |
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| As I said, "securing" corporate land may be a viable option, but ACE is doing it the wrong way. We believe that before resorting to that, there is a lot of work that can be done in order to prevent a fraudulent bankruptcy or something along that line. About IPOs, we do "manual" checks and investigations in order to see if a company is already listed somewhere without telling us. |
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| Nov 13th 2007, 13:18 Samantha Goldflake |
General Investment Discussion » Intlibber, Midas, SLEC & Others.. a statement. Re: Intlibber, Midas, SLEC & Others.. a statement. |
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| Lindsay, just a few small corrections :) I do not run the VSTEX, I am their Communication and Public Relations Director and I own the 7% (more or less) of the VSTEX Company. Then according to IntLibber, I am you so it's not you who's Italian, but me who is a black chunky chick from Southern US :D That said... Aside from the fact that the SLEC seems more a trojan horse for marketing and hype purposes, I doubt we need such a thing, not even if it was properly managed. Not at the time. Look around. Now stock exchanges (some of them at least) do have more regulations and are more keen in enforcing the listed companies to do things the proper way. As far as I am concerned, ISE and SLCAPEX fall both in the above category and while at the VSTEX we follow our own path, when we add to our rules we think about those stock exchanges. We started this August, but the real beginning date should be moved somewhere in September and I'm not ashamed to confess that since then our requirements and regulations have been growing at a steady pace. Now our companies must have 2 "real" directors besides the CEO (no more "one man" companies), with the new year each company will have to adopt a "code of ethics" and we'll be checking its enforcement. A single step income statement will be required too and at this time we're thinking to add more. What do I mean? That if they want to, stock exchanges can really do the "right thing" even just looking at their "competitors". We had the era of the WSE giant, now we have the era of multi stock exchanges. The future has yet to be written. Samantha Goldflake VSTEX Communication and Public Relations Director http://www.vstex.net |
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| Nov 13th 2007, 14:21 Samantha Goldflake |
General Investment Discussion » Intlibber, Midas, SLEC & Others.. a statement. Re: Intlibber, Midas, SLEC & Others.. a statement. |
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| Lindsay, I think he doesn't believe I am Italian. He said I am you 'cause when it comes to dealing with him, we have a close attitude and writing style. What can I say? Great minds think alike :P Anyway. It's true that the SLEC was born long before there were plans for ACE (I would not bet on that, anyway) but to us it doesn't matter. First, right now it's been used by IntLibber as a propaganda tool, second we don't think we need such an organization, no matter who runs it. Not at this time. More exchanges? As long as they are serious about what they do and they play fair, well. I doubt there's enough beef for everyone, but if they do behave... They are welcome! At least they could bring in new ideas. We believe that some standards will arise as a natural process of the financial markets evolution. For example we're gonna introduce as a requirement a single step income statement, because that should be the minimum effort companies should make (and many don't). I must make another confession: I've been looking with great interest at the financial report template the SLCAPEX is using and that may be in our future. That could be a first step towards even a partial standardization. That would be a good thing, I believe. Samantha Goldflake VSTEX Communication and Public Relations Director http://www.vstex.net |
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| Nov 13th 2007, 14:41 Samantha Goldflake |
General Investment Discussion » Intlibber, Midas, SLEC & Others.. a statement. Re: Intlibber, Midas, SLEC & Others.. a statement. |
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| I was under the impression that one only had to go to: http://slurl.com/secondlife/Jefferson/241/152/33 And get a password from their terminal. That's in their FAQs Q: How do I participate? A: First thing is to join the SL group: "Second Life Exchange Commission." You will then be contacted and notified of upcoming events through the group. In addition, you need to register for our web site: http://www.slexchangecommission.org by visiting one of our terminals in Second Life at: http://slurl.com/secondlife/Jefferson/241/152/33 I never did that and I believe I'll never do it, anyway is it me or in order to see what they're really about you have to be a member? What's available in the "public version" of their site is not exciting at all... Should I be an "average Jane", how could I check them out and see what good they could do to me? Samantha Goldflake VSTEX Communication and Public Relations Director http://www.vstex.net |
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| Nov 13th 2007, 14:46 Samantha Goldflake |
General Investment Discussion » Intlibber, Midas, SLEC & Others.. a statement. Re: Intlibber, Midas, SLEC & Others.. a statement. |
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| Well yes, makes sense :) Samantha Goldflake VSTEX Communication and Public Relations Director http://www.vstex.net |
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| Nov 14th 2007, 05:52 Samantha Goldflake |
General Investment Discussion » What do you do when... ? What do you do when... ? |
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| Sorry if posting this is not appropriate. However your community seems mature and good to comment on this. From our latest press release you can ask yourself some questions: - what do you do when a listed company goes bankrupt? - what do you do when a fraudster/scammer has assets in your stock exchange or any of the listed companies? And some more questions may arise. Now on to the press release and I am looking forward for comments. Hopefully we'll learn something out of them. Since Second Life Creations (SLC), the result of a merger between 3 existing companies managed by Bob Perry and Mystik Boucher we've been searching for a way to bring the company back from the grave. As we did for AVC, CGI, KFM, with the old management gone and denying any liability, we approached the major shareholder, to see if he could come up with some plan to save the company, a plan that had to be voted and approved by SLC shareholders. That's why we started talks with Spontaneous Rich, also President of Spontaneous Rich Investments (WSE:SRI). After some talks and a good deal of time he came up with a proposal, which he submitted to the shareholders indicated in a list we provided. In short, the proposal was to bring CCI ( Carnage Center Inc) a privately held company to the VSTEX, launching an IPO and converting SLC shares into CCI ones. He asked the SLC shareholders to vote on 2 options: 1) accept the plan as it was sent them 2) do nothing. Yesterday at late night (Italian time) we casually met inworld and he realized that Investor Merlin's assets in SLC were going to be given to Skip Oceanlane, ex vice president of Merling Investment Bank. This was the natural follow up to our announcement posted on october 22 here: http://www.vstex.net/?p=103&id=33 He told me he didn't like this, he questioned our right to turn over assets from Merlin to Oceanlane and basically it said he didn't want to give the assets to him. In a few minutes, he sent out another voting proposal, adding a third option that was about writing off any shares held by unactive (30 days or more) shareholders, turning them to active ones. We feel that one shouldn't initiate a new voting procedure under new terms when shareholders are already voting on a proposal. He claims that he could not know about this transfer to Skip Oceanlane and that once we turn over the list of shareholders, it's no longer our business to interphere. He also claims he lost way too much time on this issue, when he just wanted to help out SLC shareholders, since CCI did not need to have an IPO with the VSTEX or any other exchange (during the talks he said that many times). Our answer is that he had no obligation to put forward a proposal. He decided to do it and we thank him for that. However, things should be done the proper way. We provided the shareholders list to him for his convenience, so he could contact the shareholders. It's not up to him to accept or refuse any of the shareholders and asking the SLC shareholders to vote out other people doesn't look as a proper thing to do. Also, SLC shareholders have still to accept the proposal sent to them. Nor Spontaneous Rich nor anybody else from CCI management can change the status of things. They can't decide which SLC shareholder is good and which one is bad. In his last email he also stated that we let Mystik Boucher run away with over 300.000L$, have SLC bankrupt and allowed her to sell her sims. We reject those accusations. 1) Mystik Boucher withdrew that amount of L$ long before SLC was declared bankrupt; the company was being effectively managed by Boucher's partner, Bob Perry. At that time it was an internal SLC affair. 2) Mystik Boucher declared bankruptcy status without a prior consultation with us. She posted an announcement and in a few minutes she was gone 3) We never had control over Mystik Boucher's sims, nor we had any way to prevent her from selling them. We just had no power, there. We are now forced to end the talks with Spontaneous Rich, here representing CCI. We're willing to reopen them or to accept new proposal from other interested parties. I'm available to give more details or information upon simple request. Samantha Goldflake Communication and Public Relations Director |
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| Nov 14th 2007, 07:40 Samantha Goldflake |
General Investment Discussion » What do you do when... ? Re: What do you do when... ? |
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| Well Cash, with AVC everything worked out very well. Investors who were left out in the cold had a chance to recover. After some time, we can say that everyone should be happy. VSTEX is happy, AVC shareholders are happy, the new AVC CEO is happy. We tried again with SLC. Since in SL there is no bankruptcy court, since the system actually favours who runs away with the money, we believe we should do our part, even if we go beyond the purposes of a true stock exchange. We already have Linden Lab with their "hands off" approach... Anyway... About my questions, I wasn't really searching for answers, they were items for discussion, a chance to share thoughts and different points of view. I posted here since I have an high consideration of the SLCAPEX and the people posting here. I believe that exchanges and their representatives should talk together, share opinions and involve everyone. Ours is a community based stock exchange, that's why we're open to discussion and we try to stimulate it. Best regards, Samantha Goldflake VSTEX Communication and Public Relations Director http://www.vstex.net |
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