Oct 7th 2007, 22:25 SLR SL Reports
by Xavier Mohr

My Weekly Update / Shareholder Meeting Postponed

Investors:

The weekly update for SL Reports this time around is not full of any amazing information, but I hope you read nonetheless as I am making what I feel will be some important points in regard to the future of our company.

SL Reports remains a very strong, recognizable brand in Second Life. Our reputation for honesty, openness, and general goodwill is unsurpassed in SL media circles and the SL financial community. This is something of which I am extremely proud.

I note that our company is coming out of a very dark revenue period, the "summer slump" -- in addition to coping with real-life scheduling issues on my part and issues in the SL financial world in general. Second Life is also experiencing, platform-wide, what has seemed inevitable for quite sometime -- a slow but steady fade in real-life interest. All of this has made business very slow at SLR.

Although we have seen a drop in revenue this month, I am also happy to report that we have had very few business-related expenses. Our dividend and buyback both came from unutilized cash reserves which we had anyway.

I am also very happy to report the hiring of a new General Manager to assist in day-to-day operations of SL Reports... Strange Ranger. Strange has been our Webmaster and CTO for many months now, and is more than ready and more than willing to assist the company in desperately needed growth, and exposure across the Second Life grid. With an impressive but realistic budget, I look forward to watching Strange take the company full-throttle into the next chapter of the SLR story.

We continue on a track of steady growth with our company. SLR continues to gain new registered users, new fans, new contributors, and new investors.

For the last group there, I would like to note that I am also pleased to see the spike in our stock price. Much of this may be due to my recent promise of buybacks up to L$0.70 to take place each month in lieu of large dividends. SLR public float is outrageous at present and I look forward to continued buybacks in addition to minimal dividends that match our company's performance for months to come.

I would also like to note that although I have proclaimed an intention to seriously scale back my Second Life (in-world) time, I have no intention of resigning my CEO position at this time. This is something that I reserve the right to do in the future, as I see the company is growing successfully and being appropriately managed... and as I find a trustworthy replacement... but as of right now, I am staying put! I will always do what is best for my shareholders. Many of you I have known for a long time. All of you are my friends. =P

If you are not aware, much of the reason for my slowdown in SL time has to do with real life. There are several very major developments in my real life right now. First, as I have already announced, I am moving. This is a slow, arduous process that I haven't even begun yet... our lender and mortgage/title company continue to set closing dates for our new house that they continue to push back. Luckily, however, it appears that all is finalized now... and after the US holiday of Columbus Day, we are scheduled to finish the deal and move in. Thank God!

Secondly, something I have not yet announced here, is that I am in the process of resigning from my real-life employer. More than a simple notice, I am having to tell friends and managers that I no longer wish to be a part of the team. It's something that I must do to advance my career, but also something that is going to be very painful for all parties involved... myself being chief among them!

While I would like to say this would be cause for me to spend even MORE time in SL, I can't. I plan to continue working part-time in real life and also pursue private ventures more seriously.

In any event, I would like to note that I prematurely set a date for shareholder meeting for Tuesday, October 9th. This is something that I have already rescheduled once, but now must reschedule again. I simply cannot commit to any HUGE amount of time being spent in-world next week because of the real-life issues I mentioned. At this time, I would just simply like to postpone indefinitely this month's shareholder meeting... in the hopes that we will be able to accommodate one NEXT weekend. I will keep everyone informed on this, and in the meantime PLEASE POST ANY SLR SHAREHOLDER QUESTIONS IN THE FORUM! I can answer there, when I have time, and probably give you a better response anyway. :)

I am very excited, again, to see SLR on the path it is currently. Redevelopment, rising stock prices, and a truly limitless potential are all in the cards for our company and I am extremely happy to be a part of it.

Take Care,

Xavier Mohr, CEO
SLReports.net