WPM: Wise Property Management

Advance Land Rental System

Total shares: 12,000,000

Prospectus

Company Tagline

Advance Land Rental System

CEO's Real Life Name

Thanh Ho

CEO's Real Life Location

Dallas, TX

Board of Directors

Interim CEO - Arbitrage Wise
President - TBD
VP Marketing - TBD

The Next Step

I would like to take this opportunity to invite you to invest in the next major project and advancement for the JT Financial holdings. In analyzing our business model, we believe that the next step for us would be to venture into the Property Management sector. JT Financial is now approaching 10,000 accounts, and we feel that we can leverage those accounts to help attain our goal for the Wise Property Management system; that is to be the BEST and most WIDELY USED rental system in Second Life.

We have already contracted Peter Newell of Metaversatility (http://metaversatility.com/) to develop our rental system. Peter has already delivered us the specifications, and development has begun. We expect this system to be completed and launched before the end of the year.

Whether this IPO is completed or not the Wise Property Management system will go live. However, those of you who have known me for awhile, know that I like to create and share the wealth we make. I feel that if we can develop the best rental system to go along with the best bank in Second Life, that the virtual sky is our limit. We will only grow as SL grows, and if we can capture a large market share of the rental business, we expect our profits to be tremendous. This system will be integrated and developed on the domain www.slwallet.com. Eventually, SL Wallet will be the primary domain and website of JT Financial, and will be for Second Life what Paypal was to eBay.

Please take this time to read the specifications that have been provided to us by Peter Newell.

Best Regards,
Arbitrage Wise

Business Overview

Overview
The Land Rental System proposed for Arbitrage Wise is a state of the art land rental system taking advantage of the functionality provided by libsecondlife. Libsecondlife provides automation in Second Life that is otherwise impossible. The system will consist of prim cubes for land management, just like other systems. These cubes can be sold in world and on SLExchange, OnRez and other types of systems. The cubes will handle setting up the user account and guiding the user through configuration when placed on a parcel.

Configuration
Parcel configuration is done through a smooth consistent interface. Either via the website as a landlord-level user, or through the query based interface in-world. During this setup process a software avatar will need to be invited into the group the land is deeded to. Note that this bot will require specific permissions in the group, in order to manipulate the land. A single bot is all that is required in each group which has associated land. Once the parcel has been configured, any setting will be modifiable via the web interface. Additionally, tenants will have new functionality available to them.
The following information may be configured by the parcel owner,
* Price per Day
* Minimum rental time (when first paying, the minimum payment for subsequent payments indicates when low balance warnings are sent)
* Maximum rental time (maximum balance a user can carry)
* Prims allowed
* All parcel properties

The following information may be configured by a tenant,
* Parcel name / Description
* All Access Control List functions (note they cannot ban parcel owner, or themselves)
* User Access/Ban
* Group access
* Object Create/Entry / Scripts
* Auto-Return (hard-coded sensible limits)
* Snapshot, Show in Search (Unset automatically when balance drops below min)
* Media streams (And voice settings!)
Operation
All tenant interactions are done via the in-world UI. A simple menu/chat interface is provided. In addition to the above configuration options, users may also perform the following functions,
* Eject avatars
* List/Return objects, by owner
* Pay for rental from their JT Financial bank account
While this functionality is available primarily via the menu/chat UI, some operations are also available via a chat "API". This includes functions such as access/ban. Verification is against the owner of the object sending the commands, and it must match the current tenant.
Notifications will be sent to the renter and the parcel owner once the end date is within the minimum number of days to rent the parcel as well as the day before their rental expires. The parcel owner will have the option to extend the renter’s stay by modifying the end date of the rental on the web application.
RESTBot
All libsecondlife interactions are greatly simplified by the open source RESTBot application. Many of the libsecondlife functions are already ready to be integrated into an application. During the configuration process a bot is associated with a users land rental group. During this initial setup, and periodically, the bot will ensure it has proper access to the group. It is through the RESTBot that we are able to modify other land settings.
As commands are issued via the web interface or in world interface they are added to a queue. This queue is the source of actions for the associated RESTBot to perform. Examples of actions are "ban avatar", "reclaim parcel", "change media stream".
Given the fact that bots will be required for each land rental group involved in the system, RegAPI integration is suggested. This, combined with a dedicated last name allows users to identify with the overall brand, and help safeguard their group security. With tight RegAPI system, the amount of bots will grow as needed. Linden Lab currently offers, at the higher tier of last name purchases, an unlimited first name level.

Web administration
Administrators will be emailed a password when they place their first rental box. Using their Second Life first and last name, and the randomly generated password, the user will have access to a number of lists, reports and configuration settings on a centralized web application. If the user already has a JT Financial password, then they will be able to use their current passwords to log into the admin.

• Lists
o Renters
o Parcels

• Price per day
• Number of prims allocated
• Minimum number of days to rent
• Maximum number of days to rent (optional)

Future Work
We see a great number of extensions that can be added to this project over time, increasing the configurability and functionality of the system. Eventually, renters will also be given access to their rental configuration online, more settings will be configured, more reports will be developed, et cetera.

Business Strategy

There will be 2 primary revenue models.

1) We will charge a one time purchase price for the system, ranging anywhere from 5000 to 10,000L. This is ideal for large business owners that can absorb the initial investments

2) We will charge a percentage of the cost of rental. Our commission rate has not been decided yet. However, this model is more ideal for small businesses and startups, that only want to pay if they are making money.

Business Strengths

Our strength is in our numbers. As we reach 10,000 customer accounts, we feel that even if we can convert a large percentage of those accounts over to our PM system.

We want users to be able to pay and receive their payments directly from/to their bank accounts. This will help increase efficiency as payments and notifications can be automated. Renters will be able to maximize their profits by earning interest on funds and setting up auto-payments to pay at the latest time possible. Likewise, parcel owners will instantly have their funds put to work by earning interest, without having to manually move funds from various accounts.

Use of Capital

The initial cost for this system is 10,000 USD, or approximately 2,750,000L. We have already made a down payment of 1,100,000L to get the project started.

Any and all future updates will be made using profits generated from the business. If there is a shortage of funds, JTF will loan the business the necessary funds to make the improvements.

Risk Factors

As with all businesses in Second Life, the risk factors include:

-SL fails or the Linden becomes inconvertible

Management

Arbitrage Wise will be the interim CEO and will take care of managing, marketing, and operating the business. However, we will actively search for a suitable candidate that we will train to eventually replace Arbitrage Wise as CEO.