Subscribe to this topicForums > Kush Islands Public Forum > Topic: Shareprize
| Jun 30th, 15:01 Sportsbets Writer |
Shareprize | |
| Hi, i think (and hope;) the shareprize drop has more to do because Rockwell Ginsberg is selling off some of his shares rather than the Company itself has any problems. Was a stable company until now with a healthy dividend/shareprize history. When do the mgmt/CEO expect to be able to pay dividends in future? Until i have a answer about the current situation i´ll keep buying some cheap HOT´s ;) SW |
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| Jul 8th, 09:08 Sportsbets Writer |
Re: Shareprize | |
| I asked a few times with IM´s and even notecards but no answers regarding the status of the company :( | ||
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| Jul 8th, 13:38 Clintovius Trotter |
Re: Shareprize | |
| So here's your response. The 2 new sims sit mostly empty. The older sims are at about 86% occupancy. We continue to collect tier - But, we have lost some of our larger long term residents to the RL economy. My own responsibilities make it impossible for me to be online long enough to continue as a one man show. My attempts to hire in sales and operational help have not gone well, because I am not inworld enough. I have made this clear to Rockwell Ginsberg, since we owe him $L275,000. There will be no further dividend payments so long as I remain personally responsible for the payments due to Linden Labs. At least until our occupancy gets back up to supportable levels. We had planned to set up a secondary to supply cash for debt payment and to cover Linden Lab dues. Even that takes more time than I have at the moment. If anybody wants to step up and make an offer - whether to take over as CEO, or to run Marketing and Operations - contact me. Inworld IMs go to my email. Or, email me directly at kushops@gmail.com Over the last two years I have put a lot of time and effort into SL and Kush Islands. I would rather not resign. If there is a potential Chief of Operations or Head of Marketing out there who doesn't need me inworld more than a few hours a week - I will stay on. Otherwise, my plan is to eventually liquidate, pay off the shareholders and Rockwell, and resign. With apologies for a lack of communication, Clintovius Trotter CEO - Kush Islands |
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| Jul 8th, 14:11 Rockwell Ginsberg |
Re: Shareprize | |
| I am sorry that it has come to this. Clintovius is a responsible, diligent, and honest individual, and it is unfortunate that his RL circumstances have kept him from making Kush Islands shine as I know he is capable of doing. As I see it, the company is technically in default of its debt obligations to me. However since I would rather not see the company liquidated, I was hoping a secondary offering is still possible. I think shareholders need to come to some kind of decision (and quick): 1. Secondary offering and change of management 2. Liquidation (and liquidation dividend) 3. Buyout (we do trade at a discount to other land companies, and have a good base of residents - making us potentially attractive to buyers) I hope we can figure this out ASAP, Clint doesn't need this hanging over his head. |
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| Jul 9th, 10:00 Sportsbets Writer |
Re: Shareprize | |
| Tx for (honest) answers. How many SIM´s does HOT(Kush Islands) own right now? |
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| Jul 9th, 13:10 Sportsbets Writer |
Re: Shareprize | |
| who´s selling for 0.07? even the liquidation dividend should be higher than that | ||
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| Jul 10th, 06:12 Scout Haystack |
Re: Shareprize | |
| Sportsbets, How do you figure at liquidation that the price is higher? |
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| Jul 10th, 06:51 Sportsbets Writer |
Re: Shareprize | |
| Hi scout, first nice to see another one interested in that case, seems like most of the HOT shareholders not really care at all about whats happening here which in really not understand because it´s their invested money (and company) I asked about the current assets and got no answer so i looked in the last financial report. Their Tier expense was based on 5 full sims and 4 openspace sims so i think that are the current assets of the company. Divide the Assets / outstanding shares minus the 275K L$ what HOT owes Rockwell Ginsberg then you have the liquidation dividend.Maybe i´m wrong but i think so. (Two of the SIM´s are nearly completly empty how the CEO posted above and it seems like he is paying most of the tier from his own pocket, so HOT (Kush Islands) is technically bankrupt imaho because a Land company can only exist and work profitable when Land is rented and their manager has more time than 2-3 hours a week to manage daily business). Was a little bit unfair that Rockwell Ginsberg knowed about the current situation before all other shareholders so he was able to sell at higher prize.I was little bit wondering why he sold suddenly all of his shares as a former HOT-CEO but i thought he just needed money so i bought some.Not many just 5k shares.I sold most of them with a loss :( I personally feel sad for the major shareholders/investors of this company that it has come to this situation of a former blue-ship stock and hope someone who has time and knowleguage about land business takes over but a liquidation seems likely possible. <Sportsbets Writer Sorry for sluppy english |
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| Jul 10th, 08:06 Clintovius Trotter |
to clarify | |
| This is not only "sluppy" - it is inaccurate. First - Kush Islands owns 7 full sims and 4 open space sims. Second - I am not paying all of the tier out of my own pocket. Tier payments to Linden Labs come due in separate installments, based on the date that a particular sim was acquired. I am covering shortfalls in these payments to Linden Labs at times when the tier payments of our residents don't add up on a given due date. I have sometimes reimbursed myself and sometimes not - depending on our readiness to make the next payment. Kush Islands is NOT bankrupt or insolvent. Kush Islands needs to sell land. Third - and perhaps most important - Rockwell Ginsberg sold the bulk of his shares as a means of raising capitol for his $275K loan to Kush Islands. He had no absolutely no unfair advantage to motivate his sale of shares. You will note that the major shareholders are firmly in place and have not panicked. Uninformed speculation by small time investors is not helpful. |
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