Dec 6th 2007, 20:16 system announcement
by Arbitrage Wise

Minutes for WPM IPO Investor's Meetings

[19:04] You: OK, well... Let's get the meeting started
[19:04] You: This meeting is an impromptu meeting consisting mainly of a Q&A session...
[19:05] You: I'll say a few things, and we'll open the floor up for questions...
[19:05] You: If you haven't had a chance to read the prospectus, you can click on the signs next to me to get a copy of it..
[19:05] You: I'm sure one of your initial thoughts are, "If this is an investor's meeting for WPM, why is there a logo for slwallet.com?"
[19:06] You: Wise Property Management will be a state of the art land rental system taking advantage of the functionality provided by libsecondlife, operating with easy-to-use rental cubes, simple account setup, and advanced user configuration.
[19:06] You: WPM is our first step to slowly migrating and eventually rebranding JT Financial as SL Wallet. JT Financial will eventually be a holding company, with SL Wallet as our brand.
[19:06] You: Under SLWallet, we want you to be able to do everything from banking, to buying stocks, to managing your finances, including managing your real estate business if you have one.
[19:07] You: Basically, we want SLWallet will be for SL what Paypal was to eBay, the primary platform for doing all your financial transactions.
[19:07] You: And all that will start tomorrow with WPM. And with that, I'll open the floor up for questions.
[19:07] You: Just type ? if you have a question
[19:08] Reina Ferraris: ?
[19:08] You: Sure - go ahead Reina
[19:08] Reina Ferraris: When the IPO sells out tomorrow are we ready to put the system in place this month?
[19:08] You: According to Peter, the system should be done by the end of the month
[19:08] CloudDeck Boa: ?
[19:09] You: of course, it will only be the first version... I'm sure we'll continue to develop and add features as we grow
[19:09] You: Go ahead Cloud
[19:09] CloudDeck Boa: done development and beginning testing by the end of the month?
[19:09] You: Yes - according to Peter our developer
[19:09] CloudDeck Boa: or it is already feature-complete and entering testing
[19:09] You: It has not been completed yet
[19:10] CloudDeck Boa: Are there contracts signed for beta sites?
[19:10] You: But thus far, they have not went pass any deadline that they proposed to us
[19:10] You: Can you clarify what you mean by Beta Sites?
[19:10] CloudDeck Boa: meaning real users who have agreed to use the system
[19:10] You: We do not have any plans for that
[19:11] CloudDeck Boa: (even if they don't reflect revenue)
[19:11] You: We will probably do internal testings, and invite a few people to test the system for us
[19:11] iVentures Volitant: ?
[19:11] You: Go ahead IVentures
[19:12] iVentures Volitant: easy one. is the purpose of WPM to provide rental services for all island owners or do you plan on purchasing an island on your own?
[19:12] You: It'll be available for all land owners
[19:13] Cornelious Beck: ?
[19:13] You: go ahead Cornelious
[19:13] Cornelious Beck: What advantages will this system bring as opposed to existing rental systems?
[19:14] You: Most of those details are explained in the prospectus
[19:14] You: but the primary feature I want to highlight
[19:14] You: is that you will be able to use one account to manage all of your businesses/portfolio
[19:15] You: everything will be easier to use as you will only need 1 account to do everything
[19:15] Cornelious Beck: :- thank you
[19:15] CloudDeck Boa: ?
[19:15] You: Yes Cloud
[19:16] CloudDeck Boa: What is the total market size for such rental management services?
[19:16] You: It is really hard to gauge that the total market size is
[19:16] You: But as far as we know, there are 2 primary players at this time, Hippo-Tech and Apez
[19:17] You: However, we feel that we will be able to capture a large marketshare given the synergy that all of our other businesses offer along with WPM
[19:17] CloudDeck Boa: true
[19:18] iVentures Volitant: ?
[19:19] You: Yes iVentures
[19:19] iVentures Volitant: another easy question. will the account holders be able to view every financial information including JT Financial balance, rental information, and trading balance?
[19:20] You: Yes, we plan to have advance reporting capabilities for these accounts
[19:20] You: And that really is the big picture that we're trying to develop
[19:20] You: We want you to have one account that will allow you to manage all financial aspects of your business
[19:21] You: And by having a primary account to do all of your businesses, it will make transactions and automations alot easier
[19:21] You: such as automated payments, etc.
[19:22] Turmith Flamand: ?
[19:22] You: Sure Turmith...
[19:23] Turmith Flamand: How set are you on charging a percentage of payments through the vendors. might that not cut out some of the smaller players?
[19:23] You: As far as pricing goes, we have not set anything in stone...
[19:24] You: But we will try to price our product so that we do not take away the profit margins for the little guys
[19:24] CloudDeck Boa: ?
[19:24] You: There is more profit in the long run for us to cater to the small individual businesses, then to focus on the few larger clients
[19:24] You: Yes Cloud?
[19:25] CloudDeck Boa: would you consider adding collection services for delinquent accounts?
[19:25] You: That really isn't part of the plan...
[19:25] CloudDeck Boa: that could be really beneficial and really profitable especially if automated
[19:25] You: We don't have any plans for delinquent accounts, and I don’t think we'll experience a big problem regarding it
[19:26] You: Since most transactions require payments up front
[19:26] CloudDeck Boa: oh, I see. I hadn't considered that.
[19:27] You: Anyone have any further questions?
[19:27] You: There is one thing that I would like to put out there...
[19:27] You: That we are actively looking for a suitable candidate that we can train to eventually become CEO
[19:27] You: and are open to referrals...
[19:28] Cadmann Waechter: In what respect?
[19:28] You: Naturally, this isn't an immediate process, and candidates will have to prove themselves capable
[19:28] You: Can you clarify your question Cadmann?
[19:29] Cadmann Waechter: When you say referals. What do you mean sir?
[19:29] You: If you know anyone that can be a suitable candidate, our doors are open....
[19:30] Cadmann Waechter: Ok. Good to know.
[19:30] You: At this time, we prefer to bring in someone new, and not so much promote someone that is already part of one of our ventures
[19:30] You: We want to be able to expand our reach for new customers, and feel that in order to do that, we need to develop a new team...
[19:30] Cadmann Waechter: And the base to get in at this point?
[19:31] You: We will probably start the candidate off with marketing responsibilities...
[19:31] You: And see how they interact with the customers
[19:32] You: If the person cannot adaquately interact with our customers, then they will not be considered a candidate
[19:32] Cadmann Waechter: Makes sense. I leave the floor to you.
[19:32] You: We value customer service very highly
[19:33] Cornelious Beck: ?
[19:33] Cornelious Beck: Is there only one position available?
[19:33] You: Go ahead Cornelious
[19:33] You: No - I assume that there will be at least 2-3 positions
[19:33] You: Including a VP of Marketing
[19:34] Cornelious Beck: and you suggest that all will require people who are "new faces"
[19:34] You: It's not a requirement... more like a preferential
[19:35] Cadmann Waechter: I have some who might be suitable.........
[19:35] thx1138 Vanbeeck: dick cheney will soon be available
[19:35] You: We just feel that a new face will bring us new & possibly more customers
[19:35] Morphine Whiteberry: lol
[19:36] Cornelious Beck: it is a good angle to take :-)
[19:36] You: We can discuss potential Candidates later Cadmann when we launch
[19:36] Cadmann Waechter: Of course
[19:36] You: Plus, most of our current team is not really into the real estate market
[19:36] You: it would be more prudent for us to seek candidates that have been in the RE market
[19:37] You: and can determine our needs, as well as what we can do to provide better services to our clients
[19:38] You: were there any other questions?
[19:39] You: If not, I'll motion that we end this meeting...
[19:39] You: if you do have any futher questions, there is a thread in the General Investment forum to post your questions
[19:39] You: and once we start the IPO, WPM will have it's own forum for you to post further questions
[19:40] iVentures Volitant: will minutes of this meeting be distributed to those who missed this meeting?
[19:40] You: Yes - I will post it in the forum as well...
[19:40] Xavier Mohr: I make a motion that we motion to accept Arb's motion
[19:40] You: Then we are officially done...
[19:40] You: Thanks everyone for coming...