All posts by Jill Clary
| Apr 2nd, 08:08 Jill Clary |
General Investment Discussion » Regarding Financials & Compliance Re: Regarding Financials & Compliance |
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| SLW seems to be simple enough to figure out. Arbitrage Wise moves everyone's Linden's from a company that looked to have some credibility and value to a company that he made up and is just a name on a web page. Then crosses out the Linden dollar symbol from then end of the balance numbers so that he can call it stock now. Then procedes to buy back the "Stock" from everyone for 40% to 70% of what it's value should be, at his own sweet slow pace. No much more to know then that, it seems, except that I'd probably be in prison now if I tried that with people that I owed money too... | ||
| Apr 3rd, 01:43 Jill Clary |
SL Wallet Public Forum » See, buyback has pushed the price back up L$.20 average Re: See, buyback has pushed the price back up L$.20 average |
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| The way I see it is this: Arbitrage Wise couldn't liquidate any assets fast enough or completely ran out of any assets that he could liquidate to even be able to pay 1 Linden back to a single account holder. There for leaving him basically with the "Monthly Income 2,000,000" or so to be able to do any future buybacks with. At this rate, It's pretty easy to see that he wouldn't even be able to have enough to even cover a percentage of the people that desperately needed access to the funds that had entrusted to him and to JTF. At some point a light bulb goes off in his head and a scheme develops. Covert the Lindens to stock, let those that have money and aren't desperate to be able to withdraw funds profit by allowing them to help him buy some of the stock up. After all, like the one poster above said, they are going to make a nice little profit off of it eventually and it's real easy to see that from any level of ignorance about money and stock, as long as the person knows how to count and add and subtract. This would allow the value of the stock to fall dramatically due to those trying to get anything they could back in desperation and at the same time set up a situation that allows him to pay back his debt at way less then what it would have been if he left it as Lindens. This also would force any that could wait longer to remain as "stock holders" in SLW even if they hated this though with a passion, but had no choice if they wanted to be able to eventually withdraw their lindens 1 - 1 for what they deposited and a little interest earned. From looking over the "SLWallet Prospectus" http://www.slcapex.com/home/story/SLW/1455 it's pretty obvious that he has a vested interest in keeping as many of us in SLW as possible and for as long as possible and it's full of wishful thinking and double speak about any future income to buy back the stock ant any faster rate then he is doing now. Sort of like me telling my land lord in SL... (I'm pretty and there is a good possibility that I'll meet a rich male in game by the end of the year, and then I'll be able to pay you what I owe you, so you see, you don't have anything to worry about and you shouldn't have any problems waiting on me to pay you.). He uses a lot of cute little phrases to make it sound like there is something coming in the future like "We have many in-world as well as RL businesses that are capable of generating sufficient profits for our investors and shareholders." Note the word "capable" but I'm capable of building a rocket that I can use to fly me to the moon too, with tons of luck from entering every lottery in the world over the next 40 years of my life to get enough funds to do it with. He uses a lot of deflective wording throughout that prospectus in an obvious attempt to try to leave you with the impression there is something there when I can't see much of any sign from hard facts that there is anything definitely there. So back to the stock. We can't see all of who is buying and selling, but it's pretty obvious that there is day trading going on and from looking at Arbitrage's stock amounts, it's not him. For all we know, it's the same people, like say maybe only 50 of them, that are constantly buying and selling the "stock" between them trying to see if they can make any additional gains while they are waiting for one more person to get so desperate that they put their sock on the market for a heavy loss and drives the value back down when that is bought and then the small group go back to trading between each other. Arbitrage, to take full advantage of this can keep any indication of when he has another month income available to do a buy back, simply has to wait for one of these low stock value days to do it to maximize his gain from buying back at "market value" and hope that not many notice that he is buying back and raise their sale rate on him. Arbitrage's scenario, that he gives, is another instance of double speak and deflective techniques. After all, he is the one that created this situation in the first place and those people that he wants you to believe are going to make a killing at the rest of our expense, are going to do so anyway and he knows it and the one poster above gave you all a real factual instance on just how they are going to do it. So his argument is meaningless and he was obvious to me, counting on some doing just this when he erased the Lindens symbol off the end of our balances and called it stock. He wins no matter what and these others are going to win too, no matter what, that is, if someone from the government doesn't swoop down on him and seize all his assets and none of us with "stock" ever get a single Lindens available to withdraw again after that. Oh and by the way, that good will and tons of people, in game, that he is suggesting will be willing to do business with him on ad systems and such. He sort of leaves out the thought that guess who, but it's most of use that had the money to do business of this type with him except the small account holders and it's us with in game business that would need such services. Does anyone in their right mind think that those of us that might have would do anything other then spit in the face of any Representative of his companies that dared to step on our land, after he pulled this stunt on all of us? No my dear defenders of his recent actions, if he was truly honest anymore, he would make it clear in hard facts just what income he had coming an and when, would never have converted our money to "stock", would have asked for volunteers to wait so that he could give Lindens to those that had to have them now, would never have considered shorting any of us on what he pays back to us and would have put the bulk of his energy into finding ways to liquidate more or get more income coming in to provide more Lindens available to be withdrawn faster. No, if he was honest, he would have done everything possible to make sure we all got our Lindens available to us, in full and as fast as he possibly could and given us hard facts and continual updates on exactly what his asset situation was. Any nitwit can see through what he is doing, no matter how much double speak and deflective language he is using. Don't judge me wrong, up until he pulled this stunt, there where probably few that where a bigger defenders of him, in SL and the group IM Chat then me, right after LL closed the doors on JTF and I have met and talked him in game and got a really good impression of him from that. Now, after him pulling this stunt, I can't stand him and as soon as I manage to get my Lindens back from him, it's going to take a lot more then hell freezing over again for me to every do any transactions with him or any of his "companies" again and I know that I'm not the only one that had money in JTF that feels this way or close too the way I feel about him now. |
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| Apr 3rd, 13:52 Jill Clary |
SL Wallet Public Forum » See, buyback has pushed the price back up L$.20 average Re: See, buyback has pushed the price back up L$.20 average |
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| It's pretty obious, isn't it, that the real reason that Arbitrage Wise set up this little stock scheme was so that he will never have to pay anyone back all of what he owes them and he will blame the greedy daytrader for the less then face value that the "stock" should be being bought back by him for. Those that just want their money back are the loosers in this scheme and he knows it and the day traders and him are the only winners. The day traders and him both, have a vested interest in making sure that the "stock" price never gets back to the actual 1 for 1 Linden value that it was before he waved a magic wand over our balances and called it stock. The day traders are going to continue to do everything they can to force the stock" value down so that they can sell higher to him and he is never going to do a buy back at 1.03 with this scheme that he has set up. Well maybe by the time that the day traders finally have bought up all the stock from everyone else and then he will be forced to pay them 1.03 and that is what they are banking on happening, in the long run. It doesn't really matter to them how long this takes as long as they can keep making some money off of day trading until they have bought up all the other's "stock" and Arbitrage Wise is forced, at that time, to pay them the 1.03 price. But I'm suspecting that Arbitrage Wise is hopeing to have sold SLW to someone else way before it ever gets to that point. All Arbitrage Wise is showing me now is just how good of a con artist he is. | ||
| Apr 3rd, 18:39 Jill Clary |
SL Wallet Public Forum » See, buyback has pushed the price back up L$.20 average Re: See, buyback has pushed the price back up L$.20 average Edited by moderator Apr 3rd, 18:47 |
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| sighs... It's people like Silverblade Dagger that are never going to take the blinders off and see reality. What money is he going to take off with? It's obvious that he has none to take off with or he would could have returned some more to us. I repeat my comment before, if he was honest, he would have left our balances alone and would be working to pay us back all of what he owed us instead of setting up this stock scheme and if you really think that anytime within the next two years that you are going to see 100% of your balances returned to you for sitting around and waiting for it, you are probably smoking too much of the funny stuff. Besides what he posted as hard monthly income to SLW, I see no hard evidence of anything else. The rest was all wishful thinking type post on what might happen based on a bunch of ifs and some of those ifs are pretty darn shaky from what he posted, like expecting us to do ad business with him after pulling this stunt on us, etc. If I pulled this stunt on anyone that had entrusted me with their money, I'd be in prison soon after that. Sure, I can understand the problem he had and I was defending him on it. I believed in him and that he really was trying to liquidate and pull together the funds to make all our balances good again. I was even going to leave my account with him after he did that, because, if he did as he said he was going to do, it would have been such and act of honesty that I'd be a fool to risk putting my money with an unknown entity when he was so trust worthy. That has all been completely shattered by this stunt, he has pulled, and shown him to be a con man instead of someone that you can trust. |
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| Apr 4th, 01:14 Jill Clary |
SL Wallet Public Forum » So --- many gnawling questions remain Re: So --- many gnawling questio Edited by moderator Apr 4th, 01:16 |
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| "The only way to stop people selling their shares for a loss and others picking them up at a bargain price to make a profit later down the line, would be to freeze trading in SLW until the buyback is complete. Personally, I want the freedom :D" Well, we don't even know if it's not just the day traders that are doing all the buying and selling between themselves and/or between their alts and their accounts, or if there is actually any people still trying to sell everything for what they can get yet. Think about it, whatever financial calamity that could have been avoided buy getting their money back in time, is long past occurring by now, I suspect. That pretty much leaves just people just sitting around and waiting, the day traders trying to milk this situation for all they can, and those that just walked away and wrote the whole thing off as a total loss. I can't imagine that any that are waiting for something good to happen would be silly enough to be feeding the day traders greed and taking a heavy loss for the heck of it. The day traders are probably about the only ones left with a reason to be buying and selling at less then 1.03 right now and they pretty much have complete control over this sham of a stock market. I mean, they seem to have enough power to manipulate the value of the "stock" back down into the 60's almost imediately after a buyout occours. |
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| Apr 4th, 12:56 Jill Clary |
SL Wallet Public Forum » So --- many gnawling questions remain Re: So -&#45 Edited by moderator Apr 4th, 14:46 |
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| This so called stock, in SLW is probably around 80-90% pure IOU debts, at this point in time. As such, it is a liability and not a value to SLW or him, yet he uses double speak and deflective wording to make it seem that the stock is an asset to SLW when it is anything but that. By converting our Linden balances (IOU debts) to "stock" (IOU debts), he achieves a number of advantages, that benefit him. A few of the benefits to him for doing so, I list below here. 1)He can use these stock (IOU debts) to pay his RL bills off with to those that he can con into thinking they are an asset and not a liability, which he could never do if they where balances (IOU debts) with no way to con anyone into believing they where an asset. The only “stock” that he has any rights to be giving to others is the ones that he has bought back, but in the meeting notes they are talking about using up to 50% of the sock (IOU debt) to pay just one person with on continuing some of these, extremely expensive and highly risk ventures, that got him stuck in this situation in the fist place. He can't liquidate something he was paying for and can't receive it, to use and see if the risk will work out to the good or fail miserably, until he finishes paying for it. He seems to have taken our deposits and spent it on a good number of these RL same high risk and extremely expensive ventures, that are all unfinished an can't even be used, until they have been finished being paid for. He seems to not have learned anything from this and insist on continuing down this path, no matter what, at the IOU holders expense, also. This means that if these venture fail miserably, he has blown even more money and he has given us no plan on what he is going to do then. He has no risk management skills at all, it seems, and is relying on his ability to con people to keep him from being tared and feathered by us, if these ventures fail. It also shows, his lack of any risk management skill for not having any plan, what so ever, to handle a bank run, if one occurred, as it did. 2)He sets up a scenario that pretty much guarantees that he will be able to pay off his IOU debts to us for a low percentage of the of what is owed and he can blame everyone else but him for us not getting all our money back. He also can use it as a deflection and an excuse to continue putting money into his high risk and extremely expensive real life ventures. Since he didn't have any liquid assets left and very little income, it allowed an opening for day trader types, with funds to help him buy back the IOU debts with their incentive for doing so being making a profit off of selling it to him at higher then what they paid for it during what few times he will be using a percentage of his income to be doing a buy back and making it obvious to them, that as long as they are selling to him at under 1.03 the buy back money will be going to them fist and not the rest of us. Thus encouraging them to continue doing so and giving him them and those that have to sell to blame for him not paying us back 100% of what he owes us. He has basically entered a side business deal with anyone that can help him buy these sock (IOU debts) and left all the rest of us, that are waiting, to get our money back, completely out of any buy backs. 3)It deflects attention away from other hard holdings, like all the Sims owned in SL that could be sold off to come up with cash flow or converted to 100% rental to help gain income to pay off his IOU debts to us. So, as far as I'm concerned, it's all a con game with him and those of us just waiting to have our IOU debts paid and those dumb enough to let him pay them with our sock (IOU debts) are the ones being coned by him. |
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| Apr 5th, 03:23 Jill Clary |
SL Wallet Public Forum » So --- many gnawling questions remain Re: So --&am Edited by moderator Apr 5th, 04:46 |
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| Another bit of proof that I can provide that I'm correct, is that Arbitrage Wise has made it pretty clear that he has no intention of buying any of the stock (IOU debts) back at the price of 1.03 is seen in copied and pasted statements, of his, that I am posting just below here: Mar 1st, 23:52 Arbitrage Wise Re: Buy Back Question We will continue to buy back until we can raise the price of the shares to at least 1.03, and will treat it as a public company afterwards. This will give the opportunity to those who can wait the ability to sell their shares without incurring any losses. From: Mar 3rd, 20:23 Arbitrage Wise Re: SLWallet Shareholder's Meeting Transcript 7pm meeting transcript: [19:54] Snafu Acronym: is the intention to do buybacks unnanounced in the future? [19:54] You: Yes Snafu [19:54] You: We've realized an announced buyback would only force us to pay a premium on shares Add to these comments, by him the fact that he has complete control over the buy backs, the amount of money spent during each buy back, when the buy backs happen, full accees to seeing all the sell bids and the ability to add up the total price to buy back just the ones that are, say.. .80 per share and under and then only spend that much to make sure he isn't accidently buying any back for 1.03 and he has the perfect con going for him. I look at facts and ignore double speak and meaningless wordings. I want to see the details, not wishfull thinking and flowery language. If you ignore all the flowery talk, doublespeak, wishfll thinking phrases, and deflective wording, you are left with a much different picture of what is actually going on and what he is doing then he is trying to lead everyone to believe. |
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| Apr 5th, 07:50 Jill Clary |
SL Wallet Public Forum » So --- many gnawling questions remain Re: So --- many gnawling questions remain |
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| Angi Fargis, But don't you see, that is my point, he couldn't do this to us if he hadn't converted, without our permission, all of our bank balance (IOU debts) to these stock (IOU debts). He would have had to pay everyone exactly how much they had, and couldn't pay them a low percentage of it. He is making it clear that he is only going to buy up stock (IOU debts) at a lower percentage then what he owes on them and plans to stop buying back any of them as soon as it gets to the point that he would be forced to. He couldn't get away with trying to blame someone else, if he payed you only 60 cents on the Linden, that he owed you, and told you your debt was paid off now, if all of our accounts where still bank balances. It's a cute little con and he has a lot of people falling for it. |
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| Apr 5th, 08:16 Jill Clary |
SL Wallet Public Forum » So --- many gnawling questions remain Re: So --- many gnawling questio Edited by moderator Apr 5th, 08:18 |
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| Dezmond Martinek, Exuse me, but I have a busness to run in SL and a RL to attent too. One, I don't have time to sit her and play the market in SLW like the day traders do. Two, it's going to take a lot of time for me, even that way, to recupe what he owes me. Three, I'm not going to help him swindle people out of paying them back 100% of what he owes them. Four, thank you very much, but I've seen all of him and how he operates to know that I never want to do any business with him again. All I want is him to pay me what he owes me, like he promised he was going to do and then I'm out of here and there better never be any one from any of his companies set foot on my sim or business lands. I've already banned him from my lands and the rest of the board members for SLW and will be adding all the names of the people that work for him and the other compainies he is associated with as I can find out who they all are. |
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| Apr 5th, 08:51 Jill Clary |
SL Wallet Public Forum » So --- many gnawling questions remain Re: So --- many gnawling questio Edited by moderator Apr 5th, 08:56 |
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| Angi Fargis, Don't get me wrong, I'm not mad at the day traders or anyone that is buying up the stock and reselling it at a higher price and I'm certainly not blaming any of them for this, like he is trying to get away with doing. I blame everything squarely on him for all of this. It was his bad management with bad business dealings and having no plan in place for what to do if a bank run happened, that got him stuck in this situation. It was him that created this stock scam to rip people off with. So all the blame for this mess falls squarely on the one that is fully responcible for it. LL, true, caused the bank run, but from there on, everything that has occoured lays squarely on his shoulders and no one elses. He can try to pawn off the blame all he wants, on others, but that only makes him look even worse in my eyes for doing that. |
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