Mar 18th 2008, 14:34 LNL L&L Financial Services
by Lindsay Druart

Utherverse Inception Accepted

Utherverse has officially accepted the following proposal in its entirety and we are finally launching the first kiosk in game April 1st. Our kiosk launch was pushed back do to system updates. We will be putting out a schedule over the next week to detail the Utherverse inception. Thank you again for your support.

To Whom It May Concern:

This is an official proposal to Utherverse from L&L Corporation to enhance operation in Red Light Center and Virtual Vancouver and increase revenue streams for both companies. I believe that a strategic partnership would be great in the success of both companies. I have provided reference information as well as detailed information to make sure that we have made our stance as clear as possible.

The History of L&L Financial Services

L&L Financial Services (http://www.myllbt.com) started as L&L Bank and Trust back in May 2007 in response to the bankruptcy of Second Life Investment Bank. L&L Rentals and Sales, the real estate division of L&L Corporation (http://www.llcorporationinc.com), had partnered with Touchet Group Corporation, another real estate company, to launch the bank as another way of providing all around service for our customers and virtual shareholders. Due to Linden Lab, owners of Second Life, the bank went bankrupt on the technicality of the terms of service that would charge a user 150% of any stolen or fraudulently obtained Lindens, the in game currency, even if the person knew nothing about that event. At the time, 5 fraudulent avatars had deposited large amounts of money to the bank and in turn withdrew large amounts and Linden Labs charged the bank with 150% of the lost funds.

L&L Bank and Trust was start by L&L Rentals and Sales purchasing the debt of the bank from Touchet Group Corporation and revamping the bank by paying back depositors and starting a new line of services (http://www.knowprose.com/node/17578). Since then, we have survived 4 faulty programmers that resulted in slight delays of products, 3 thefts with eventually having little to zero loss, a 4 million share buyback and deletion on the stock exchange, a quarter of negative profit, and the most recent banking ban in Second Life that caused use to rebrand a bit and we are still in business. The history of this division is important to see how far we have come despite a lot of turmoil and to still be one of the most respected financial institutions in Second Life.

I have been interviewed by many major media channels (ABC, http://abcnews.go.com/Technology/story?id=3527537&page=1 and CNN, http://secondlife.blogs.cnn.com/2008/02/11/a-colorblind-ghost-town/) and newspapers (LA Times, http://articles.latimes.com/2008/01/22/business/fi-secondlife22) about the banking industry as well as a long line of earned respect in the community for my management style as a CEO. Sure, there are naysayers but at the end of the day, I have done a very good job with the company and this sector and seek to do much more.

Why Utherverse?

Months ago, I was looking to branch the company out and started looking for young and viable places to go that would offer the greatest benefit for the customer of both newer metaverses as well as Second Life customers and L&L Corporation as a whole. We tried There.com and failed miserably as they have no means to exchange currency and we put in to have information about the business development side of Red Light Center sent to us.

Red Light Center is thriving with just the few options available. Imagine where it will be when more options are available? Also, imagine what can be done now, while it is still smaller than its competitor. It's like sitting back and watching someone pave the way so that you can come in and glaze that same pavement. Learning from their mistakes to be the next best thing is how most businesses grow and that is why Utherverse is important for the next step of L&L Financial Services.

Our Current Services

In the past, we have offered interest bearing accounts, such as savings accounts and certificates of deposit term accounts via the virtual currency only. This was halted with the banking ban of Second Life, which in retrospect was a good thing but poorly executed. We still offer a currency exchange payable through Paypal and in some cases, paper check. We offer a brokerage exchange that offers the sale of shares in the company’s portfolio to our customers so they can doubly benefit from our stance in the market. Our portfolio is made up of companies from SL Capital Exchange (http://www.slcapex.com), Ancapistan Capital Exchange (http://www.ancapex.com), World Stock Exchange (http://www.wselive.com), International Stock Exchange (http://www.intlstockexchange.com), and Virtual Stock Exchange (http://www.vstex.com). In additional, we operate the L&L Global Exchange which list several companies of its own and is going to be the integral part of our presence in Utherverse. We offer direct deposit, person to person transfers, escrow services, and private sale of stock as well.

Our Proposed Services and Utherverse

1. We seek to bring back the interest bearing account but only for RLC/VC avatars, requiring any Second Life avatar to have an RLC/VC account to participate, which will increase your numbers. Seeing as this was stable for Second Life, most of our customers and investors would jump on this opportunity to receive a return on investment. The biggest mistake of the banking industry in Second Life was offering interest rates that were not long tern sustainable. I realized this early on and put a stop to it (http://www.slcapex.com/home/story/LNL/975) but it was too late as the industry in Second Life had been hit hard by a ponzi scheme called Ginko (http://www.wired.com/gaming/virtualworlds/news/2007/08/virtual_bank). We are looking to offer a rate that is very close to real life interest rates and will even base our rate on the prime to assure that we are in full compliance to offer this service without hiccups as it will be thoroughly researched and submitted for your final approval.

2. We would like to have exclusivity to financial services in RLC/VC for a period of 6 months to 1 year. This does not mean that we want to be the only operating company in financial services but we would like to be able to put a stamp of approval on those coming in to help police the sector for residents. From past experience, we have seen a lot of fraud and it has in turn affected the entire sector. If we can provide a system of checks and balances as well as criteria that must be met ahead of time, we can protect resident and the name of the sector as a whole, thus promoting the validity and security of Utherverse.

3. L&L Global Exchange is a virtual stock exchange that seeks to assist virtual businesses in launches their business in metaverses. The L&L Financial Services customers would supply the capital via a virtual public listing that would be needed for a company to succeed. L&L Credit Reporting Agency and Business Services, our business development division (http://www.llcra.com), would provide all underwriting services and assist the company with a legitimate business plan to ensure success. We have venture capitalists and investors standing by to invest at all times through our customer base. Customers would be able to invest via Lindens or Rays via our website, thus doubling the cash flow available for companies to be vital profitable. Second Life customers wishing to use the services provided by these companies will have to open RLC/VC accounts, increasing your numbers again.

4. Our system has a built in currency exchange for Second Life users to buy and sell lindens. We would like to have the same service for Rays. Only RLC/VC customers are allowed to have a balance of Rays in their account so Second Life users wishing to take part in the Ray currency exchange would have to have a RLC/VC account. There would need to be a terminal built in world in which the residents could pay and withdraw their rays balance. Of course this would be something that your development team would have to create in world and we would provide the necessary links to our web backend as well.

5. While we are merely at a kiosk now, we plan to grow into a financial district in which we will ask various companies from Second Life to branch into RLC/VC with us such as a banking insurance company called Rock Insurance (http://www.therockinsurance.com/), an investment company called Beck Investment Group (http://www.slcapex.com/symbol/BIG/profile), and an advertising firm/television network called the MetaNetwork Media (http://www.metanetworkmedia.com/). These are just a few of the companies that we would ask to open in the district. This will again, expand the usage of current residents and bring in new residents. We would also be able to centralize the financial sector for easier access in the metaverse. The financial district would be managed by L&L Rentals and Sales.

L&L Corporation

L&L Virtual Holdings dba L&L Corporation is incorporated in the state of Georgia and seeks to build as much from our virtual businesses as possible. We are real. We are knowledgeable. We are profitable. With your business development division being young, this is the perfect time for a virtual veteran like L&L Corporation to come in assist in the grandeur movement of Utherverse. We believe we can use our triumphs and our set backs to assist other virtual businesses in realizing real life potential, thus funneling more income back into the game. L&L Corporation was started solely in Second Life and has grown into a real life dream and we have a long way to go. We are in the process of creating the L&L Corporation Federal Credit Union (http://www.myllbt.com/content/info) that will have services derived specifically for virtual businesses and metaverse residents.

We look forward to working with Utherverse and are willing to provide any documentation or make any agreements needed to make this all a reality. Let me know what other information you would like to know and I would be more than happy to explain.

Sincerely,

Sheffie Cochran aka Lindsay Druart
CEO, L&L Corporation
678-471-6458 (cell), 404-433-7968 (office)