http://slcapex.com/forums/topic/LNL/1885 In forum L&L Financial Services Public Forum en-us Wed, 20 Aug 2008 05:36:35 -0700 Wed, 20 Aug 2008 05:36:35 -0700 http://slcapex.com/forums/ Kudang SQL2RSS admin@slcapex.com webmaster@slcapex.com 60 http://slcapex.com/forums/topic/LNL/1885
in topic Closing Operations by Tranquilo Holgado ]]> Thu, 15 May 2008 16:34:46 -0700 http://slcapex.com/forums/topic/LNL/1885/13245 http://slcapex.com/forums/topic/LNL/1885
Thanks, my email is correiodigital&yahoo.com (you know what to put instead of the &).
I have some suggestions to made about LNL and LCA. But I might wait for your email first, unless it take too long to receive it.

regards

in topic Closing Operations by Tranquilo Holgado ]]> Thu, 15 May 2008 15:55:07 -0700 http://slcapex.com/forums/topic/LNL/1885/13242 http://slcapex.com/forums/topic/LNL/1885
I must say there are a ticket in L&L who are not closed : An error in my favor as put in my LNL account 111072 Shares that are not mine. So consider that I own only 187988 (3.13%).

For myself, english is difficult and I can't participate really to forum and any shareholder meeting. Is just a language concern. (Google is my friend...)

I will just wait and see what append and what is the recovering.

After all I have ear bad from SL (blackmail, thieving, slander, perjury, etc) I see that Lindsay is yet here but it can be so easy to disappear.

So even if I think that this suddenly closure of LCA and LNL as completely suprising me and I don't understand realy why, I think that in a feudal world like SL, his presence at this forum is well and I can wait the 18 may...

I will not remove my confidence now and if I am wrong, I will cry after.

For my part I think "ethics" (even if not legal, I do not care) the announcement of the closure before any meeting. It limit the insider trading and looting of small holders.

Unfortunately someone has dropped (I will be the recipient when I reconstruct buying after the last big drop).

I just deplore that the first post and the closure make sufficient windows time for one to drop share to 0.04 at this time. I will be VERY INTERESTED to know WHY this delay (I was online at this time and will buy some at 0.26 myself to avoid panic before to see the closure). Just a coincidence ?

So for myself this remaining 3%, I give my "share vote" to Lindsay Duart for now.

I wait and see ...

Sister Difra.
Any bad deed has its punishment.

PS : I have big RL problem so I can't be really active now. I will certainly no reply. I apologise for that.

in topic Closing Operations by Difrajealb Chevalier ]]> Thu, 15 May 2008 15:24:21 -0700 http://slcapex.com/forums/topic/LNL/1885/13240 http://slcapex.com/forums/topic/LNL/1885
Shoot me an email and I will take care of it.

in topic Closing Operations by Lindsay Druart ]]> Thu, 15 May 2008 02:26:26 -0700 http://slcapex.com/forums/topic/LNL/1885/13192 http://slcapex.com/forums/topic/LNL/1885
in topic Closing Operations by Arnaud Villota ]]> Thu, 15 May 2008 01:53:47 -0700 http://slcapex.com/forums/topic/LNL/1885/13191 http://slcapex.com/forums/topic/LNL/1885 Beside, she would get my 1.91% vote, for closing LNL, if that is her decision. I rather have Lindsay liquidating LNL than anyone else liquidating or running it. At least, I know she won't run with the money. I'm sure others would do a fine job running LNL, but I don't know them. I prefer to stick with someone I already know.
Moreover, Lindasy has her name on the line. I'm shore she will do her best to compensate as far as possible everyone in order to get out as clean as possible. Someone else wouldn't have the same moral pressure. He would just say, there isn't more money, so, live on...
So, forget courts, forget meetings to try to coerce Lindsay. This is SL, we need her. The only way is to talk with her and understand her point of view. She did her best, without receiving nothing. She lost money too. Stop bashing and may be she will be ready to go on with both companies.
Did you sent a copy of the email to me, Lindsay? I can't remember which email I gave you.
Anyway, I think there is nothing to hide, the discussion should be public. Lets just ignore all the stupid comments.
regards

in topic Closing Operations by Tranquilo Holgado ]]> Wed, 14 May 2008 18:36:36 -0700 http://slcapex.com/forums/topic/LNL/1885/13182 http://slcapex.com/forums/topic/LNL/1885
@Lindsay, I think Cayman has a good point. Maybe you guys should "kiss and make up". Sorry for the crappy reference but I think Cayman may be offering a possible and reasonable way out that might be a win-win for both of you as well as the shareholders.

@The current shareholders... There is a hell of a lot of debt here from what I am seeing being posted on the forums. Are you sure you want to take that on by ousting Lindsay and the other BOD members?

@Ivan and Sportsbet... both of you guys have some good insights. If you could drop the personal bullshit, I think your insight would go a lot farther.


in topic Closing Operations by Arnaud Villota ]]> Wed, 14 May 2008 17:42:23 -0700 http://slcapex.com/forums/topic/LNL/1885/13179 http://slcapex.com/forums/topic/LNL/1885
in topic Closing Operations by Cayman Beaumont ]]> Wed, 14 May 2008 15:12:55 -0700 http://slcapex.com/forums/topic/LNL/1885/13175 http://slcapex.com/forums/topic/LNL/1885
Blasting what was supposed to be a confidential email is not making it worse. It was trying to have a discussion in a more professional setting than the forums. This is why you signed an NDA and you just totally disregarded the NDA by posting that.

in topic Closing Operations by Lindsay Druart ]]> Wed, 14 May 2008 15:07:34 -0700 http://slcapex.com/forums/topic/LNL/1885/13174 http://slcapex.com/forums/topic/LNL/1885
You've opened the public debate by seeking bankruptcy for LCA and closed LNL for no good reason.

You've done this without consultation with your shareholders, and you've agreed to a shareholders meeting in September. Now I'm sure you'll tell me if I've misrepresented you here.

You should make this announcement to all shareholders and now, discussing with the chosen few is a little late.

Now lets be clear, you've created this mess and you're making it worse. Stop whining about everybody else and sort it out!

CB

in topic Closing Operations by Cayman Beaumont ]]> Wed, 14 May 2008 14:59:19 -0700 http://slcapex.com/forums/topic/LNL/1885/13172 http://slcapex.com/forums/topic/LNL/1885
And I never stated I was refusing to have a shareholder meeting. I said I don't have sufficient time to do it.

PLEASE STOP PUTTING WORDS IN MY MOUTH!

And you ask me for an idea and I sent it to you so how is that an unsolicited email???

This is the kinda thing that just makes me want to say the hell with it and walk away sometimes...I swear.

in topic Closing Operations by Lindsay Druart ]]> Wed, 14 May 2008 14:27:09 -0700 http://slcapex.com/forums/topic/LNL/1885/13171 http://slcapex.com/forums/topic/LNL/1885
in topic Closing Operations by Cayman Beaumont ]]> Wed, 14 May 2008 14:20:05 -0700 http://slcapex.com/forums/topic/LNL/1885/13170 http://slcapex.com/forums/topic/LNL/1885
in topic Closing Operations by OttoVan Oyen ]]> Wed, 14 May 2008 14:03:55 -0700 http://slcapex.com/forums/topic/LNL/1885/13168 http://slcapex.com/forums/topic/LNL/1885
in topic Closing Operations by Lindsay Druart ]]> Wed, 14 May 2008 13:57:59 -0700 http://slcapex.com/forums/topic/LNL/1885/13167 http://slcapex.com/forums/topic/LNL/1885
I have IMed shareholders Servme Nakamura and Difrajealb Chevalier about this affair.

Lindsay appears to be unwilling to let the shareholders participate in decisions about the future of the company they own.
I invite the other shareholders to take a position about that.
I appreciated Scotts comment.

As I see it as far as I have been (very limited) informed, trade and business activity of LNL should resume for which Lindsay is responsible until she has found a successor.

in topic Closing Operations by OttoVan Oyen ]]> Wed, 14 May 2008 13:49:48 -0700 http://slcapex.com/forums/topic/LNL/1885/13166 http://slcapex.com/forums/topic/LNL/1885
sorry. I had to leave for a while. I sent a email to both of you (Scott and Lindsay).

My email address is josga#excite.com



in topic Closing Operations by Givara Balnarring ]]> Wed, 14 May 2008 13:34:08 -0700 http://slcapex.com/forums/topic/LNL/1885/13165 http://slcapex.com/forums/topic/LNL/1885
Please also send me your email so that I can forward my reply.

nestler.investments@gmail.com

in topic Closing Operations by Scott Nestler ]]> Wed, 14 May 2008 11:57:16 -0700 http://slcapex.com/forums/topic/LNL/1885/13160 http://slcapex.com/forums/topic/LNL/1885
I just sent an email to Scott, Cayman, and a few others...

in topic Closing Operations by Lindsay Druart ]]> Wed, 14 May 2008 11:54:05 -0700 http://slcapex.com/forums/topic/LNL/1885/13159 http://slcapex.com/forums/topic/LNL/1885
And, I left my sense of humor in my other skirt.

in topic Closing Operations by Lindsay Druart ]]> Wed, 14 May 2008 11:53:27 -0700 http://slcapex.com/forums/topic/LNL/1885/13157 http://slcapex.com/forums/topic/LNL/1885
I got it at least!

CB

in topic Closing Operations by Cayman Beaumont ]]> Wed, 14 May 2008 11:35:41 -0700 http://slcapex.com/forums/topic/LNL/1885/13156 http://slcapex.com/forums/topic/LNL/1885
in topic Closing Operations by Givara Balnarring ]]> Wed, 14 May 2008 11:34:52 -0700 http://slcapex.com/forums/topic/LNL/1885/13155 http://slcapex.com/forums/topic/LNL/1885
in topic Closing Operations by Cayman Beaumont ]]> Wed, 14 May 2008 11:34:02 -0700 http://slcapex.com/forums/topic/LNL/1885/13154 http://slcapex.com/forums/topic/LNL/1885
in topic Closing Operations by Lindsay Druart ]]> Wed, 14 May 2008 11:32:59 -0700 http://slcapex.com/forums/topic/LNL/1885/13153 http://slcapex.com/forums/topic/LNL/1885
If you are not prepared to sell your 20%, what is a reasonable conclusion? I don't see just closing down as a reasonable conclusion, any other thoughts?

Regards,

CB

in topic Closing Operations by Cayman Beaumont ]]> Wed, 14 May 2008 11:27:21 -0700 http://slcapex.com/forums/topic/LNL/1885/13152 http://slcapex.com/forums/topic/LNL/1885
I give up...

in topic Closing Operations by Lindsay Druart ]]> Wed, 14 May 2008 11:27:19 -0700 http://slcapex.com/forums/topic/LNL/1885/13151 http://slcapex.com/forums/topic/LNL/1885
I'll sell you my shares. And I know a couple of others who would also.

in topic Closing Operations by Givara Balnarring ]]> Wed, 14 May 2008 11:23:22 -0700 http://slcapex.com/forums/topic/LNL/1885/13150 http://slcapex.com/forums/topic/LNL/1885
in topic Closing Operations by Lindsay Druart ]]> Wed, 14 May 2008 11:21:49 -0700 http://slcapex.com/forums/topic/LNL/1885/13149 http://slcapex.com/forums/topic/LNL/1885
Software
Port Luke
Liquid assets is around $75k. I can't view the account right now.
$45k in SL CapEX and about about $2k in stocks.
Brand (if you consider that an asset)

LCA Assets

Software
$50k liquid

in topic Closing Operations by Lindsay Druart ]]> Wed, 14 May 2008 11:19:17 -0700 http://slcapex.com/forums/topic/LNL/1885/13148 http://slcapex.com/forums/topic/LNL/1885
You need to SHUT UP and disengage from this thread at least temporarily. You are a perfect example of why LL will ban stock exchanges. So SHUT UP for ten friggin minutes and try to think about other people, your shareholders.

Ivan said it best:

"Lindsay people are calling for you removal because quite frankly they dont trust your ability - i mean look at LNL and LCA - disasters. Pople dont trust your integrety and quite frankly most of what you post on these forums smaks of delirium. Saying your busy for a while and will be free for a meeting on Sept 22, opening a RL credit union, going to RL court to fight for LCA's assetts - there are only a few of the really bizzare staements that you have made that could possibly lead people to believe you may be a customer of sportsbets new business venture.

in topic Closing Operations by Pop Nightfire ]]> Wed, 14 May 2008 11:18:52 -0700 http://slcapex.com/forums/topic/LNL/1885/13146 http://slcapex.com/forums/topic/LNL/1885
I never said I was unwilling to have a shareholder meeting. I stated I don't have sufficient time to have one. If one can be held in 30 mins to an hour, then sure. Otherwise, it won't happen.

in topic Closing Operations by Lindsay Druart ]]> Wed, 14 May 2008 11:15:04 -0700 http://slcapex.com/forums/topic/LNL/1885/13145 http://slcapex.com/forums/topic/LNL/1885
The audit would reveal the relationship between the RL company and the SL divisions and the interaction between divisions.

Lindsay,

If the assets are clearly defined can you please list them in detail?

in topic Closing Operations by Scott Nestler ]]> Wed, 14 May 2008 11:12:03 -0700 http://slcapex.com/forums/topic/LNL/1885/13144 http://slcapex.com/forums/topic/LNL/1885
I have no problem with discussing this and coming to a reasonable conclusion but I will not be bullied. With time zone differences and time in world, having a shareholder meeting in world is probably not going to be successful as someone will come along and say they didn't get their voice heard.

in topic Closing Operations by Lindsay Druart ]]> Wed, 14 May 2008 11:06:54 -0700 http://slcapex.com/forums/topic/LNL/1885/13142 http://slcapex.com/forums/topic/LNL/1885
A couple of questions, how do you own 40% of the company? You own 20.2% and Luke 7.4%. There is a company alt owning 11.5%, are you claiming voting rights for treasury shares?

I'd like to make an offer for your 20.2%, which would of course mean that I receive control of ALL of LNL assets. I agree it may be impossible to resolve this matter without your agreement, but please consider that you own only 20% of the company.

As you are unwilling to hold a shareholders meeting at a reasonable time I'd appreciate that these negotiations are conducted in public

Regards,

CB

in topic Closing Operations by Cayman Beaumont ]]> Wed, 14 May 2008 11:05:55 -0700 http://slcapex.com/forums/topic/LNL/1885/13141 http://slcapex.com/forums/topic/LNL/1885
2. Depositor funds are all SL liabilities as they were only made via SL. Payments made via Paypal are for the credit union and are liabilities of the RW company.

3. No SL investor/depositor were classified as purchasing L&L RW company shares. L&L RW was simply acting as the holding company but not guaranteeing any ROI based on the RW company.

4. Funds were deposited in a sub account for LLFS under the L&L RW name. All funds are kept in separate accounts.

5. Funds held in USD currency were reported on the 2007 Tax Return due to interest gained via the accounts and RW stocks sold. Also, payments made on behalf of the SL companies in USD via the holdings company were reported.

Things got hairy after the banking ban because of 3 things...

1. 2 weeks before the ban, we spent funds on system upgrades that have not been able to be utilized to its full potential.

2. 3 days before annoucement of the ban, 8 Dragons Bank was purchased.

3. Panic caused some assets to be sold at a substantial loss as the banking ban was hugely unclear at first. I admit that as being solely my fault. The linden dollar conversion dropped and as USD was filtrated back into lindens, there was a loss there as well.

in topic Closing Operations by Lindsay Druart ]]> Wed, 14 May 2008 11:05:19 -0700 http://slcapex.com/forums/topic/LNL/1885/13140 http://slcapex.com/forums/topic/LNL/1885
in topic Closing Operations by Scott Nestler ]]> Wed, 14 May 2008 10:56:51 -0700 http://slcapex.com/forums/topic/LNL/1885/13139 http://slcapex.com/forums/topic/LNL/1885
This is not a shareholders meeting.

You said only 5 people have discussed a solution. I gave you a potential solution in my last post. Did you read it?

It all hinges on you doing things with the group. As long as your decision of closing the company without consulting the shareholders stands then I can't see you as someone who is willing to do things by group decision. I'm sorry, until now I have not argued against you. I have supported your previous activities. I even have no problem acknowledging that you have worked hard for your investors. I thank you for that. But your decision to close without consultation is unacceptable. It's sad that you don't see that.

in topic Closing Operations by Givara Balnarring ]]> Wed, 14 May 2008 10:51:21 -0700 http://slcapex.com/forums/topic/LNL/1885/13138 http://slcapex.com/forums/topic/LNL/1885
Regarding LNL's history, the company was originally transferred from WSE prior to LNL filing as RW entity, and thus, classified as an independent SL entity. Now, if we're saying, with the assumption that LNL is utilizing investors funds for its RW entity, then this is unlawful and should not be as such. This may not be the case, unless someone can prove this.

Another note, LNL proposition is to create a liquidation fund with the goal to payoff shareholders, instead of LNL operating as a listed company. If an audit is to be conducted, this may involve RW operations and assets (which might not be the case either). The question relies on:

- Has LNL's original mission statement since the IPO in WSE met investors expectations?

Investors funds are utilized based on the original stated Prospectus. Only until after the bank ban, things started to get a little more grey.

On the Balance Sheet, depositors funds are a liability to LNL, but in SL or RW? If the deposits were made payable to L&L RW company name by check, Paypal, or other money transfer services, then this is the RW entity's liability. Now, a few questions to consider would be:

- Were any of these depositors/investors fund ever classified as purchasing L&L RW company share?
- Were the funds ever deposited to a RW bank account and to which, Lindsay's personal or L&L RW company bank account?
- Were the funds reported in the RW L&L Company's 2007 Tax Return?

If any of the questions are no, then from an accounting standpoint (IMO), an audit engagement is not relevant.

However, from a business standpoint, how much in assets does LNL really hold? Liquid assets would be Cash on hand. Other assets would be the Sim owned (can potentially sell under market value, but still retains value as long as there is demand), and the software (as an intangible asset as this can be sold as well, if there are potential buyers.) If these are the only assets held, then these assets belong to the LNL shareholders as these were purchased utilizing the paid in capital. Once these assets are sold to the market, the funds received can be used to pay off shareholders under the liquidation fund if created. Regarding its intent to close, this would be the case only if the liquidation fund is formed mimicking SLW footsteps.

Certain steps can be taken to approach this goal, but September is considered late. This should be done within days and no later than a week's time.

IMO, Bo is not responsible to assist with Lindsay's liquidation fund since this platform is only used for trading. However, he can be a part of this meeting as he is knowledgeable. Same for myself and Guardian representing SL Financial Reporting Group, and any other qualified SL accountants.

iV

in topic Closing Operations by iVentures Volitant ]]> Wed, 14 May 2008 10:50:04 -0700 http://slcapex.com/forums/topic/LNL/1885/13137 http://slcapex.com/forums/topic/LNL/1885
"If the bank account is not empty then why are you closing at all?

Because of the bad deal LCA made and the debt incurred?

You just told us the bank account isn't empty............"

How many times must I say that I am not closing for monetary issue? And yes the LCA debt has a lot to do with it. The bank account isn't empty but that doesn't mean I can afford that debt either.

in topic Closing Operations by Lindsay Druart ]]> Wed, 14 May 2008 10:48:13 -0700 http://slcapex.com/forums/topic/LNL/1885/13136 http://slcapex.com/forums/topic/LNL/1885
in topic Closing Operations by Lindsay Druart ]]> Wed, 14 May 2008 10:41:56 -0700 http://slcapex.com/forums/topic/LNL/1885/13135 http://slcapex.com/forums/topic/LNL/1885
There is no pleasing you people. There isn't even reasoning with some of you. You want to argue terms and this problem and that problem but in 7 pages there have been maybe 5 posts that actually discuss a solution.

THIS!!

THIS THREAD!!

All the little chat griefers and all the people who are talking out of their asses and don't even know what they are talking about! This is why I want out. Did I sign up for SL to listen to half this dribble and deal with whiners that don't even have a share and never have but feel the need to seek out any little issue to try to defame someone? NO! It's childish. That's why I stopped commenting on most of the stuff that I saw. All it does is create a hostile environment when it wasn't meant to be that way.

For those of sound mind in this thread, I am listening and I have taken what was said into consideration.

You want a shareholder meeting?? You think I am going to sit in SL and listen to this same stuff that is being said here right now?

THIS IS YOUR SHAREHOLDER MEETING!

Have at it....

in topic Closing Operations by Lindsay Druart ]]> Wed, 14 May 2008 10:40:23 -0700 http://slcapex.com/forums/topic/LNL/1885/13134 http://slcapex.com/forums/topic/LNL/1885
I agree with you. One of the issues we are going to have as a group is disclosure of what is a LLFS asset and what isn't.

The lines have been crossed between L&L divisions.

in topic Closing Operations by Scott Nestler ]]> Wed, 14 May 2008 10:38:56 -0700 http://slcapex.com/forums/topic/LNL/1885/13133 http://slcapex.com/forums/topic/LNL/1885
I only brought up the lawyer as a last ditch attempt at getting back my money if your future decisions lead to a major loss opf funds for the investors. I'm sorry, but I'm not prepared to accept a 100% loos or even 50%. Some reasonable loss is expected.

But before we get to that far off scenario, I think things can be done to correct this.

1) Reverse your decision to close the company.

2)Call a shareholders meeting to discuss the future of the company. If the share holders vote for a closure, then I will accept that. That way it would be democratic. What you did isn't.

3)Have further discussion on how we would liquidate assest and reimburse the investors as much as we can. Notice I said WE. As you stated, we are in this together, and we should make the decisions together.

in topic Closing Operations by Givara Balnarring ]]> Wed, 14 May 2008 10:36:43 -0700 http://slcapex.com/forums/topic/LNL/1885/13130 http://slcapex.com/forums/topic/LNL/1885
Because of the bad deal LCA made and the debt incurred?

You just told us the bank account isn't empty............

in topic Closing Operations by Scott Nestler ]]> Wed, 14 May 2008 10:33:42 -0700 http://slcapex.com/forums/topic/LNL/1885/13129 http://slcapex.com/forums/topic/LNL/1885
Auditing is not needed. If I was closing because of a monetary issue then maybe but it's not. I have other plans that will be discussed with the majority shareholders when I have finalized the numbers.

And I never said the bank account was empty....

in topic Closing Operations by Lindsay Druart ]]> Wed, 14 May 2008 10:30:09 -0700 http://slcapex.com/forums/topic/LNL/1885/13128 http://slcapex.com/forums/topic/LNL/1885
It doesn't matter how you got to the point where you have less than controlling interest in the company. The point is, at the time you made the decision to close the company, you DID have less than 50%.

You also state

"Sure, I started the fire but I am not the one making it spread."

Are you serious? I think you need to take a break from posting here. You acknowledge that you started this mess and then blame others because it got out of hand?

Please stop and take a deep breath or a walk or hike or something. You posts are getting more rapid and make less and less sense.

in topic Closing Operations by Givara Balnarring ]]> Wed, 14 May 2008 10:27:19 -0700 http://slcapex.com/forums/topic/LNL/1885/13127 http://slcapex.com/forums/topic/LNL/1885
And like I said in another post...nothing positive is ever viewed. Nothing positive that was done in the company matters at all. The banking ban isn't considered. Sully disappearing isn't considered. It's just immediately my fault. Great. Thanks...

I have my faults but a few things are not my fault and I did some things right with respect to my customers. But...eh.

in topic Closing Operations by Lindsay Druart ]]> Wed, 14 May 2008 10:26:54 -0700 http://slcapex.com/forums/topic/LNL/1885/13126 http://slcapex.com/forums/topic/LNL/1885
Lindsay, you keep threatening Lawyers...is that what you really want? Some land shark that charges $350 a hour eating at what you keep refering to a empty bank account?

I think it's comments along those lines that spread the fire.

in topic Closing Operations by Scott Nestler ]]> Wed, 14 May 2008 10:25:36 -0700 http://slcapex.com/forums/topic/LNL/1885/13125 http://slcapex.com/forums/topic/LNL/1885
If you want to take this to court RL, sure. Let's. Lock the thread, delist the companies, and contact my lawyer. Meanwhile, I am attempting to do this without all the hostility and without the unnecessary trip to court which will be long, expensive, and utterly solve nothing.

Sure, I started the fire but I am not the one making it spread.

in topic Closing Operations by Lindsay Druart ]]> Wed, 14 May 2008 10:21:32 -0700 http://slcapex.com/forums/topic/LNL/1885/13123 http://slcapex.com/forums/topic/LNL/1885
you stated

"we can work together and have all hearts and minds reasonably clear"

I agree. All hearts and minds should have been consulted before you made a decision. You make a backroom decision, leaving most shareholders out of the loop, and then you say we should all work together? Yes there is bickering here, there is anger. Look to the way you made the original decision to close the company and you'll see why that is the case.

in topic Closing Operations by Givara Balnarring ]]> Wed, 14 May 2008 10:17:57 -0700 http://slcapex.com/forums/topic/LNL/1885/13122 http://slcapex.com/forums/topic/LNL/1885
Lindsay people are calling for you removal because quite frankly they dont trust your ability - i mean look at LNL and LCA - disasters. Pople dont trust your integrety and quite frankly most of what you post on these forums smaks of delirium. Saying your busy for a while and will be free for a meeting on Sept 22, opening a RL credit union, going to RL court to fight for LCA's assetts - there are only a few of the really bizzare staements that you have made that could possibly lead people to believe you may be a customer of sportsbets new business venture.

I think people are trying to tell you Lindsay they dont want to deal with you - they want to deal with a team that will do the right thing...



in topic Closing Operations by Ivan Halfpint ]]> Wed, 14 May 2008 10:16:18 -0700 http://slcapex.com/forums/topic/LNL/1885/13121 http://slcapex.com/forums/topic/LNL/1885
I agree that the fire may be fueled by some posts here, but the fire was started by you when you mad a decision you had no right to make without consulting the other shareholders.

You state

"L&L is our name....our brand. Founded by me and Luke Birdbrain. If you think for one second, I am just going to lay down and turn over all the assets just because, you are sadly mistaken."

Seems to me that you don not fully get the concept of a publicly traded company, and that you weren't ready to go public with your company. Unless you keep more than 50% of the shares, you loose controling interest in the company. This is a point you don't seem to be getting.

You also state

"you can follow Ivan's plan of a supposed hostile take over and we all end up in court."

Yes, lets. Then we can have full discloser.

in topic Closing Operations by Givara Balnarring ]]> Wed, 14 May 2008 10:13:55 -0700 http://slcapex.com/forums/topic/LNL/1885/13120 http://slcapex.com/forums/topic/LNL/1885
Software? For what steal a buggy L&L software that was built for L&L exclusivly only and can not used for other things?

Domain? lol

Bankaccount with no money? lol

ALTS? when there is one with a funny name why not ^^

in topic Closing Operations by Sportsbets Writer ]]> Wed, 14 May 2008 10:12:12 -0700 http://slcapex.com/forums/topic/LNL/1885/13119 http://slcapex.com/forums/topic/LNL/1885
The assets were purchased a less than 1% of the actual value so the debt was offset by taking into account 80% of the actual value of those assets so it turned out to be a wash as that money would have been spent anyway, still yielding a 20% profit and we have profited substantially from those assets since then, selling 1 of the sims for 26 times what we paid for it.

in topic Closing Operations by Lindsay Druart ]]> Wed, 14 May 2008 10:09:35 -0700 http://slcapex.com/forums/topic/LNL/1885/13118 http://slcapex.com/forums/topic/LNL/1885

in topic Closing Operations by Scott Nestler ]]> Wed, 14 May 2008 10:08:32 -0700 http://slcapex.com/forums/topic/LNL/1885/13117 http://slcapex.com/forums/topic/LNL/1885
LLL has been managing Port Luke for months with very little to no cost in most cases as well as providing the land for the main branch at no monthly cost. LLL donated the funds to pay of the debt of SLIB to start LLFS in May last year with no return guaranteed or intended.

in topic Closing Operations by Lindsay Druart ]]> Wed, 14 May 2008 10:04:42 -0700 http://slcapex.com/forums/topic/LNL/1885/13115 http://slcapex.com/forums/topic/LNL/1885
Now, I stated that there would be liquidation schedules to be discussed and from what I have the situation is actually do able but in no post here has anyone bothered to ask what the ideas were and how this can be diluted to hurt the least.

Instead, most of the posts seek to oust me totally and remove the founders from the picture. Are you supposing to steal the software from me? The domain? The bank account? My alt avatars? Yes, there are SL assets, but there are RL asepects of those assets that you still need me for.

So if you want to oust me, just say the word. You can have what is in the CapEx account and delete my shares and the other founders and whatever else makes you happy and run the company on.....well, nothing. But there are parts of this that you won't get because I personally guaranteed them and I am personally liable for that I put into the business as owner equity.

Think sensible here. All this is doing nothing but fueling a fire that can be easily doused with some sound reasoning instead of just sitting her blasting me for the hell of it.

My god! I am trying to bow out sensibly and with the least harm done but rather than REASON, I just see vultures. The few that have said something reasonable are being over shadowed by the vultures at this point.

Bottom line, we can work together and have all hearts and minds reasonably clear, or we can bicker and make this worse than it really has to be.



in topic Closing Operations by Lindsay Druart ]]> Wed, 14 May 2008 10:00:20 -0700 http://slcapex.com/forums/topic/LNL/1885/13114 http://slcapex.com/forums/topic/LNL/1885
in topic Closing Operations by Givara Balnarring ]]> Wed, 14 May 2008 09:59:29 -0700 http://slcapex.com/forums/topic/LNL/1885/13113 http://slcapex.com/forums/topic/LNL/1885
in topic Closing Operations by Sportsbets Writer ]]> Wed, 14 May 2008 09:56:19 -0700 http://slcapex.com/forums/topic/LNL/1885/13112 http://slcapex.com/forums/topic/LNL/1885
Unless Lindsay agrees it cannot happen, the Parent or RL company controls all of the SL divisions assets.



in topic Closing Operations by Scott Nestler ]]> Wed, 14 May 2008 09:55:14 -0700 http://slcapex.com/forums/topic/LNL/1885/13111 http://slcapex.com/forums/topic/LNL/1885
If there is revenue, what is it? What is the source?

How are the other divisions helping LLFS that are not being made public?

These are the types of questions that would be answered by an outside audit.

in topic Closing Operations by Scott Nestler ]]> Wed, 14 May 2008 09:53:51 -0700 http://slcapex.com/forums/topic/LNL/1885/13109 http://slcapex.com/forums/topic/LNL/1885
1#) Remove Druart from any position having to do with either company LCA or LNL.

2#) Sieze all assets in LNL and LCA - cancel and destroy all shares previously held by Druart.

3#) Study the situation to see if either business is viable to carry foreward. If it is carry on after electing a new CEO and board. If not liquidate all assets and use the proceeds to retire debts and distribute proceeds among shareholders.


This seems like a good solution to me

in topic Closing Operations by Ivan Halfpint ]]> Wed, 14 May 2008 09:48:20 -0700 http://slcapex.com/forums/topic/LNL/1885/13107 http://slcapex.com/forums/topic/LNL/1885
But I am not hiring someone else to run something with my name on it to fail again and it turn into my fault. If something screws up and its my fault, it will be MY fault and I take the blame. Not taking the blame for someone else.

in topic Closing Operations by Lindsay Druart ]]> Wed, 14 May 2008 09:43:53 -0700 http://slcapex.com/forums/topic/LNL/1885/13106 http://slcapex.com/forums/topic/LNL/1885
OttoVan Oyen stated that between him and a few others they have 43.4% of the shares. Can we get a few others here to join in and see if we can reach that magic 50%. Then we can hold a meeting and make a proper decision on the future of the company.

Just a thought

in topic Closing Operations by Givara Balnarring ]]> Wed, 14 May 2008 09:41:01 -0700 http://slcapex.com/forums/topic/LNL/1885/13105 http://slcapex.com/forums/topic/LNL/1885
"Ok Givara. The company can stay in stasis until I have time for a shareholders meeting to officially close operations."

Don't mock me...or humor me.

If you are serious, then your minority decision should be null and void. Which means the company is operational and trading is not halted. Then you can call a shareholders meeting within a reasonable time frame (not 4 months) or leave the company.


in topic Closing Operations by Givara Balnarring ]]> Wed, 14 May 2008 09:35:37 -0700 http://slcapex.com/forums/topic/LNL/1885/13102 http://slcapex.com/forums/topic/LNL/1885
wOOOt lindsay??

But some XTC Shares and Pills form me inworld they help you get more ACTIVE

Eatsome: I have a nice +105 Moneyline bet baseball tonight, thats our first 105% ROI, they win sure sure.



in topic Closing Operations by Sportsbets Writer ]]> Wed, 14 May 2008 09:35:05 -0700 http://slcapex.com/forums/topic/LNL/1885/13101 http://slcapex.com/forums/topic/LNL/1885
Thank you for asking for my opinion.

I believe that the books of LLFS should be opened and a full accounting of where revenue has been coming in from and going to be accounted for.

If there is revenue coming in that a recovery plan be set by the shareholders as a group.

If no revenue is coming into the company, where did the money go?

Did LLFS loan or fund other L&L divisions?

Was LLFS's largest asset, it's software, used for other divisions without compensation?

These are some of the questions that I am sure will come up at the meeting.

I don't think we can come up with a plan until we have the whole picture.

As a +5% stockholder and outsider in LLFS and LCA I will volunteer to fund a complete outside audit by SL Financial Reporting Group if Lindsay agrees to cooperate.

iVentures and Guardian have proven themselves to be independent, objective and thorough.

After the report is generated it is my belief that we can make a educated decision.


in topic Closing Operations by Scott Nestler ]]> Wed, 14 May 2008 09:28:45 -0700 http://slcapex.com/forums/topic/LNL/1885/13100 http://slcapex.com/forums/topic/LNL/1885
in topic Closing Operations by Sportsbets Writer ]]> Wed, 14 May 2008 09:27:58 -0700 http://slcapex.com/forums/topic/LNL/1885/13099 http://slcapex.com/forums/topic/LNL/1885
in topic Closing Operations by Eatsome Donat ]]> Wed, 14 May 2008 09:26:35 -0700 http://slcapex.com/forums/topic/LNL/1885/13098 http://slcapex.com/forums/topic/LNL/1885
in topic Closing Operations by Lindsay Druart ]]> Wed, 14 May 2008 09:25:19 -0700 http://slcapex.com/forums/topic/LNL/1885/13097 http://slcapex.com/forums/topic/LNL/1885 But don´t cry at me when you have just 200% ROi in december ok?

in topic Closing Operations by Sportsbets Writer ]]> Wed, 14 May 2008 09:23:55 -0700 http://slcapex.com/forums/topic/LNL/1885/13096 http://slcapex.com/forums/topic/LNL/1885
Also, even if the company continued to run without me as CEO, I am still the chairman and I am not hiring a CEO that is not me or Luke Birdbrain to have the same thing happen with Sully leaving SL and me holding the bag as the chairman.

in topic Closing Operations by Lindsay Druart ]]> Wed, 14 May 2008 09:22:32 -0700 http://slcapex.com/forums/topic/LNL/1885/13095 http://slcapex.com/forums/topic/LNL/1885
what kind of Cart-before-the-Horse logic is that?

You are saying that you have no majority(you conceeded that), then you say that as a minority, you made a decision to close, and now challenge anyone to come up with a majority to overturn it???

well...if you can make a decision based on having a minority, why do others need a majority?

I said that having a RL job is a good excuse for not having time. But that doesn't mean you can go ahead and do something you have no right to do because of it. Are you reading too fast to get the point?Yes, you had no time....fine...but you also had no majority. Not having time to call a shareholders meeting does not negate the shareholders right to have one. The thing to have done is to continue with L&L until a sharedholders meeting could be set up. If you still couldn't do that, then sell your shares and get out of the company.

Respond as you will. I've had it with trying to argue what is an obvious point. I will wait for the blog post before the 18th as you stated. Perhaps we will get our money back. If I have to take an unreasonable loss I will look into having the points we discussed argued in court. I know $L might not be considered REAL money, but it is a grey area of law that some lawyer might take up out of interest.


in topic Closing Operations by Givara Balnarring ]]> Wed, 14 May 2008 09:21:40 -0700 http://slcapex.com/forums/topic/LNL/1885/13094 http://slcapex.com/forums/topic/LNL/1885
(and some pills of course,too hihi)

in topic Closing Operations by Eatsome Donat ]]> Wed, 14 May 2008 09:20:39 -0700 http://slcapex.com/forums/topic/LNL/1885/13093 http://slcapex.com/forums/topic/LNL/1885
The last time LNL paid dividend was in March 2008, not September 2007.

A postponement of a shareholders meeting to September 22 is ridiculously late. If Lindsay wants to step down as CEO that should be discussed in a shareholders meeting, e.g this weekend, just as SLW and JTIC were able to hold a shareholders meeting within a few days.

It is not clear to me who have been consulted by Lindsay and where the 40% shareholders approval claim is based on. I should like to hear the opinions of Cayman Beaumont, Servme Nakamura, Scott Nestler and Difrajealb Chevalier about this case: all active avatars which together with me own 43,4% of the shares.

Otto van Oyen

in topic Closing Operations by OttoVan Oyen ]]> Wed, 14 May 2008 09:14:40 -0700 http://slcapex.com/forums/topic/LNL/1885/13090 http://slcapex.com/forums/topic/LNL/1885
in topic Closing Operations by Lindsay Druart ]]> Wed, 14 May 2008 09:08:29 -0700 http://slcapex.com/forums/topic/LNL/1885/13089 http://slcapex.com/forums/topic/LNL/1885
In addition, everytime I have scheduled a shareholder meeting, MAYBE 5 people show up. A few times, especially on the ones I had during euro times, no one showed up....

in topic Closing Operations by Lindsay Druart ]]> Wed, 14 May 2008 09:07:02 -0700 http://slcapex.com/forums/topic/LNL/1885/13088 http://slcapex.com/forums/topic/LNL/1885
Vote to keep the company open.....

I was not arguing that we don't have the majority. I was arguing that there is no majority to overturn the decision in the first place making the 40% the majority of actual votes in this case. I didn't miss your point. I was giving mine.

But how can you say RL is a good reason but then come back and say that lack of time is not a good excuse?

in topic Closing Operations by Lindsay Druart ]]> Wed, 14 May 2008 09:04:59 -0700 http://slcapex.com/forums/topic/LNL/1885/13087 http://slcapex.com/forums/topic/LNL/1885
Watch out for my ever 1st SL-IPO "The Liquid Ectasy Inc."
Ticker Symbol : XTC

(Your investments are SAFE, i do sportsbetting on baseball with it. (YE$$$$$$ INDIANS goooo gooo oooo
oooooooooooo YE$$$$$$$$$$$$$$$ and RED SOX YEAHHHHHHHHHH $$$$$$$$$$$$$$$$$$$$$))

(Around end of the year we make a 500% ROI party)



in topic Closing Operations by Sportsbets Writer ]]> Wed, 14 May 2008 09:02:23 -0700 http://slcapex.com/forums/topic/LNL/1885/13086 http://slcapex.com/forums/topic/LNL/1885
At this time, I know that I do not plan on selling the software, or rather not selling exclusive rights as the software has bugs that need to be fixed anyway. There is a good chance that the companies may continue operations at a later time on the private sector with RL employees operating in SL for security purposes and to ensure actual work being done.

Wa??????

Lindsay Writes:

With all this going on you want to have a shareholder meeting September 22? Lindsay this is a serious question. Do you realize you are setting a date for 4 monhs down the road? Just checking

Sports:

We dont have a brach of the 'Lindsay Credit Union' in Canada yet either BUT there is a new building being built across the road from where I work - I wonder if it could be a 'Lindsay Credit Union'. I will keep you up to date on its progress.

in topic Closing Operations by Ivan Halfpint ]]> Wed, 14 May 2008 08:59:30 -0700 http://slcapex.com/forums/topic/LNL/1885/13085 http://slcapex.com/forums/topic/LNL/1885
http://www.slcapex.com/forums/topic/LNL/1488

Also, you posted a divident in March 2008, you stated that your last was in August 2007

http://www.slcapex.com/home/story/LNL/1532

in topic Closing Operations by Scott Nestler ]]> Wed, 14 May 2008 08:58:33 -0700 http://slcapex.com/forums/topic/LNL/1885/13084 http://slcapex.com/forums/topic/LNL/1885
who asked you to quit your RL job?

you missed my point. By saying "make the time" I meant make it IF you want to make the desicion to close the company. If you can't make the time (and being busy with a RL job is a good reason), then you have no right to close the company. You can't use the lack of time excuse to do something which would be illegal in real life or at least unethical in SL.

The people who made this decision , collectively , are minority shareholders.

My God, you will argue any point no matter how untennable your position.

You, and the people who made this decision do not own the company.You are minority shareholders. How can you argue this?

in topic Closing Operations by Givara Balnarring ]]> Wed, 14 May 2008 08:57:12 -0700 http://slcapex.com/forums/topic/LNL/1885/13083 http://slcapex.com/forums/topic/LNL/1885
in topic Closing Operations by Pop Nightfire ]]> Wed, 14 May 2008 08:50:50 -0700 http://slcapex.com/forums/topic/LNL/1885/13080 http://slcapex.com/forums/topic/LNL/1885
I am not quitting my RL job to make time to be fussed at when I can do that in the forums and if the shareholders are agreed to postponing, September 22 is the best time for me.

in topic Closing Operations by Lindsay Druart ]]> Wed, 14 May 2008 08:45:52 -0700 http://slcapex.com/forums/topic/LNL/1885/13078 http://slcapex.com/forums/topic/LNL/1885
in topic Closing Operations by Pop Nightfire ]]> Wed, 14 May 2008 08:45:51 -0700 http://slcapex.com/forums/topic/LNL/1885/13077 http://slcapex.com/forums/topic/LNL/1885
I said PRIVATE SECTOR.....meaning if they do resurface in SL, they will be private and will be operated by RL employees of the RL company via SL. Some SL companies NEED employees but there are very few loyalties for people to do it.

They were designed to run in SL not RL but I cannot depend on SL resident to assist in running the company. Been burned too many times.

And you made an interesting point.....they came to SL to have fun.

Well, I came to SL to have fun but I have little knowledge of what that is anymore.

in topic Closing Operations by Lindsay Druart ]]> Wed, 14 May 2008 08:43:38 -0700 http://slcapex.com/forums/topic/LNL/1885/13075 http://slcapex.com/forums/topic/LNL/1885
not having sufficient time to call a meeting is not a good reason for a minority of shares holders to make such a decision. The decision was made by people who, collectively , do not own the company. If this was a real life company listed on a real exchange, your actions would be illegal. Not having enough time does not change that, and frankly, it's a bit unprofessional to use such an excuse.

The desicion has affected many people. Saying "I didn't have enough time" is a slap in the face to them. Either make the time , or postpone the desicion until such time that a meeting can be held.

in topic Closing Operations by Givara Balnarring ]]> Wed, 14 May 2008 08:42:43 -0700 http://slcapex.com/forums/topic/LNL/1885/13074 http://slcapex.com/forums/topic/LNL/1885 They will wake up sometime in future and make awesome business s controlled by RL employes from a RL company.

RL?SL?RL?SL?RL?SL?

HELL forget that FUGGIN RL HERE IN SL.

No one cares shit RL here in SL.


If you have a nice RL idea in RL, go IPO in RL and not try take the SL virtual game players money in the hope that they more stupid than in RL and see their L$ just as game tokens, they came to SL to have fun not to lose any money for some RL crap.


PS: i not saw any "Lindsay Credit Union" bank branch in my city until now.


in topic Closing Operations by Sportsbets Writer ]]> Wed, 14 May 2008 08:35:59 -0700 http://slcapex.com/forums/topic/LNL/1885/13073 http://slcapex.com/forums/topic/LNL/1885
2. Considering Cayman and I had a disagreement a long time ago and he wanted out, I would assume that is still that case since he refuses to communicate with me when I do ask for the opinion of the majority shareholders.

3. I do not have sufficient time to hold a shareholder meeting due to the times I am in SL. I am back at RL work now and my window in SL these days is fairly short until the weekend but even then has now become family time as I do have RL obligations now that I didn't have 6 months ago.

The reason for this thread is still discovery. At the current time, my mind says to close and I have a few other things in mind pushing me to that decision. However, I am never shut down to the point where sound reasoning is not analyzed and welcomed.

in topic Closing Operations by Lindsay Druart ]]> Wed, 14 May 2008 08:28:10 -0700 http://slcapex.com/forums/topic/LNL/1885/13071 http://slcapex.com/forums/topic/LNL/1885
in topic Closing Operations by Lindsay Druart ]]> Wed, 14 May 2008 08:22:35 -0700 http://slcapex.com/forums/topic/LNL/1885/13070 http://slcapex.com/forums/topic/LNL/1885
three points

1) Are you now saying that you made this decision in consultation with the CEO and other L&L founders?

2) The person who originally pointed out that you have a minority of shares (Cayman Beaumont) holds as many shares in the company as you do. So could he decide NOT to close the company?

3)Even if we take your point, 40% is still a minority. That and saying "there is not enough of a majority to overturn the CEO/Chairman anyway" are both reasons to make a decision based on a share holders meeting. That way you at least have quorum.

in topic Closing Operations by Givara Balnarring ]]> Wed, 14 May 2008 08:22:31 -0700 http://slcapex.com/forums/topic/LNL/1885/13069 http://slcapex.com/forums/topic/LNL/1885
I do not plan on selling everything I own in SL and starting a new name and all that jazz. I have never hid behind an alt and I never will. Anything attached to the Lindsay Druart name will stay attached to my name good or bad.

As I stated before, I zeroed out my savings to even get to the point where we are with the current liability. Close to $12,000 came out of my pocket above and beyond the assets that LNL had to compensate for the lost funds during brokerage liquidation, a percentage of the software cost, and lost funds on the linden conversion.

in topic Closing Operations by Lindsay Druart ]]> Wed, 14 May 2008 08:20:14 -0700 http://slcapex.com/forums/topic/LNL/1885/13068 http://slcapex.com/forums/topic/LNL/1885
And Tranquilo, you are exactly right. It is very possible. But it is possible at the gain of shareholders and at the loss of the CEO and its founders which will in turn yields a loss period. SL does not provide the loyalty needed these days to run a business thus putting most if not all of the work on the founders even when additional help is needed.

At this time, I know that I do not plan on selling the software, or rather not selling exclusive rights as the software has bugs that need to be fixed anyway. There is a good chance that the companies may continue operations at a later time on the private sector with RL employees operating in SL for security purposes and to ensure actual work being done.



in topic Closing Operations by Lindsay Druart ]]> Wed, 14 May 2008 08:14:32 -0700 http://slcapex.com/forums/topic/LNL/1885/13066 http://slcapex.com/forums/topic/LNL/1885 IV that´s normal here in SL finance, some companys even pay dividends from the IPO money or from "interest" rates in other sl "investments" while their own business struggeling long time.
Just to post a 0.01 dividend and make the investors feel happy (while the sharerpize lose 70% of it´s value ;)

in topic Closing Operations by Sportsbets Writer ]]> Wed, 14 May 2008 08:11:27 -0700 http://slcapex.com/forums/topic/LNL/1885/13065 http://slcapex.com/forums/topic/LNL/1885
Iventues brough up alot of very good points!

One of the I would explore - what about a bid by someone to take over as ceo if LNL or LCA or both. Im not a shareholder as I would never go anywhere near any company Lindsay Druart had a thing to do with.... but if i was I'd be launchng a movement to 'Liquidate' Druart from having anything to do with either company instead of her having any say about bankruptch or liquidation proceedings. Atleast get a capable body in there to handle those things.

Cheers,

Ivan

in topic Closing Operations by Ivan Halfpint ]]> Wed, 14 May 2008 08:10:45 -0700 http://slcapex.com/forums/topic/LNL/1885/13064 http://slcapex.com/forums/topic/LNL/1885 Heck i would even sell some RL assets for my former shareholders when i failed completly with my investors money becuase here in SL where it`s all based of TRUST (..you can really trust)

Here in SL you NOT buy some "share" in a virtual company, you buy the knowleguage of the RL person behind that avatar and it`s abilaity to make a nice ROI for the investors.

95% of the people failed doing this here in SL because its freakin hard to make some money for investors here in SL (or your name is Shaun Altman and you are a fox)

Sorry for sloppy english, writing german would be a lot easier.


Sportsbets Writer
Shareholder, 1 Share

in topic Closing Operations by Sportsbets Writer ]]> Wed, 14 May 2008 08:06:03 -0700 http://slcapex.com/forums/topic/LNL/1885/13063 http://slcapex.com/forums/topic/LNL/1885
I'd like to share my views as I am not a shareholder of LNL or LCA.

This is a surpise regarding the announcement. I don't see how LNL can announce bankruptcy for a few reasons:

About two weeks ago, Lindsay made an announcement regarding the "LNLF L&L Financial Services Liquidation Fund" and "Periodic buyback - 85% of dividends recieved from LNL by treasury shares of LNL above and beyond brokerage dividends will be used to by back shares monthly."
LNL has been paying dividends every month and if they were at risk, why wasn't this mentioned previously? How about an emergency plan at the shareholder's meetings?

How about the Cash on hand reported back in mid-April of the $240K? Even if you account for Accounts Payable, this totals to $90.7K leaving them with a net of $149.3K in cash reserves.

How about land reported at $280K? This can always be sold back to the market even if it's lower than the original purchased price increasing cash liquidity allowing for strategic plans to be made to climb out of the credit crunch.

How about ownership shares under 50%?

What am I missing?

iV

in topic Closing Operations by iVentures Volitant ]]> Wed, 14 May 2008 08:01:01 -0700 http://slcapex.com/forums/topic/LNL/1885/13062 http://slcapex.com/forums/topic/LNL/1885 Anyway, you still have my trust. Your honesty was never an issue for me. As a creditor, and a shareholder of both LNL and LCA, I think you could go on with both. You could still lock all peoples money in the LN liquidating fund and open the brokerage. LNL and LCA can still give some profit. I hope you won't sell your position, since I think you are our hope to get our money back, at least a part of it.

in topic Closing Operations by Tranquilo Holgado ]]> Wed, 14 May 2008 07:52:44 -0700 http://slcapex.com/forums/topic/LNL/1885/13060 http://slcapex.com/forums/topic/LNL/1885
I am still waiting for a answer to a question asked at the beginning of this thread. How can you decide to close a company that you you own 26% of? If you feel the need to leave, then sell your shares and leave. You are treating L&L as your private company. If SL stock exchanges are to have any meaning, then a share in a company should represent what it does in real life, a SHARE in the company. Your share is 26%, others own 74%. So, again, how can you unilaterally decide to close the company when you are a minority shareholder?

in topic Closing Operations by Givara Balnarring ]]> Wed, 14 May 2008 07:50:56 -0700 http://slcapex.com/forums/topic/LNL/1885/13059 http://slcapex.com/forums/topic/LNL/1885
The only one that is paid anything at LNL was Arnaud for customer service and that position is vacant due to his RL obligations and I respect that. Other than that, the CEO makes nothing other than when a dividend was paid and I always used that to buy back shares. I have never made a salary from LNL so there have never been management expenses. The only company that I have made a consistent salary of some sort over time was LLL because of the profit margin.

The fixed expense was the sim tier and the web hosting. Other than that, there is income and sometimes profit but with the banking ban, the way the brokerage was developed, it depended on the ban to not change drastically. We spent about $3k USD to upgrade the system to the brokerage and 2 weeks later came the banking ban so there was never a chance to recover.

The only way at this point to LNL to come out of this prolonged rut and actually do business would be to do what Arb and all of the banks did and issue shares in a fund for linden and zero bank balances. I thought about that but I wanted to give people options so I didn't do that. In hindsight, I probably should have. But, what's done is done I suppose. I have a few ideas of how to handle liquidation that will be discussed with both the board of directors and CapEx management as I do ask Bo for an unbiased opinion quite often.

in topic Closing Operations by Lindsay Druart ]]> Wed, 14 May 2008 07:21:35 -0700 http://slcapex.com/forums/topic/LNL/1885/13058 http://slcapex.com/forums/topic/LNL/1885
I NEVER SAID THAT!

My God! Stop assuming things people! If I didn't say that don't assume I am going to do something or not going to do something. The people that are to be contacted for such things, will be. Until then, hold your horses and calm down.

This is one of the main reasons I am closing these operations. Most, not all, of the shareholders have little concern about the actual business operations and more concern about a dividend and I am guessing not realizing that.....

YOU HAVE TO BE ABLE TO OPERATE TO PAY A DIVIDEND

As long as you are making your dividend, I am the greatest CEO ever but as soon as I have a bad month or try to play clean up from something that Linden Labs has imposed on us, I suck and I am this and I am that, not even realizing that 60% of the liquidation that has happened to date came out of my own ass when the banking ban yielded most of our asset value at less than 20%. I could have shrugged my shoulders and said it was the cost of doing business like the RL companies do but I zeroed my personal savings to hold out as much as possible. However, that kind of stuff doesn't matter. Some of us have busted our ass trying to make the best of the worst but it's never good enough for some people.

I doesn't matter that I took on over 800k of someone else's debt and paid everyone back in full to even start the bank in the first place and even go so far as to cut interest rates to something reasonable and attainable while everyone else paid up to 200% more interest than their income just to get depositors. I doesn't matter that we encountered a theft of 77% of our reserves and reclaimed all in full and I kept everyone in the loop the entire time rather than hiding it under the rug like some other financial institutions.

You are right....nothing I did positive in this whole year that I have run this company means anything. So....I am agreeing with the masses here. I am a failure and I am out.

But I never said I was leaving anyone hanging. If you didn't like me for whatever reason before, now should change nothing and after this is all said and done, you will still have your words so whatever. I have had it. If I have never been good enough, me continuing to run the company isn't going to change anything so I am taking my life back and focusing on something else that has continually yeilded sound profits for the most part for well over a year and was the start of this whole thing anyway.

Sure, I have made my mistakes in all of this but last time I checked, I was human and if one of you gets it right all the time, I need to know your secret. What this boils down to for me, I give up and I am tired of trying for nothing. It is a year May 11th when I started L&L Bank and Trust with the debt of Second Life Investment Bank using profits from L&L Rentals and Sales. And in a year, SL has changed drastically, thus affecting the business model.

I'm done with these divisions. I hired a CEO that supposedly made a bogus deal after I got MOUNTAINS of kudos for hiring him and all the people that patted him on the back are now looking to tar and feather him when this disappearance is clearly out of his character. I see how this goes. But, its human nature so I expect nothing less.

in topic Closing Operations by Lindsay Druart ]]> Wed, 14 May 2008 07:02:53 -0700 http://slcapex.com/forums/topic/LNL/1885/13056