Subscribe to this topicForums > SL Wallet Public Forum > Topic: SLWallet Shareholder's Meeting Transcript
| Mar 3rd, 13:17 Arbitrage Wise |
SLWallet Shareholder's Meeting Transcript
Edited by author Mar 4th, 00:52 |
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| This was the transcript for the meeting on 3/3/2008 at 12pm SLT - there were questions that were addressed that are open for suggestions. Any comments or questions not related to the meeting will be deleted. [12:15] You: We'll just get started nowed [12:16] You: First, once SLWallet is launced, we'll be moving up to the first floor... [12:16] You: we'll discuss how/when SLW will be launched in a little bit [12:16] You: but.... [12:16] You: Things have changed since the announcement of this meeting [12:17] Reina Ferraris: he will open the floor to q&a afterwards [12:17] You: Chango is now interested in equity of SLW, not just SLCX [12:17] You: so he's open to returning the equity of SLCX in return for some equity the SLW [12:17] You: The question is, How Much, and How [12:18] You: How Much is up to the shareholders... [12:18] You: as for How, my initial thoughts are as follow... [12:18] You: SLW would retain any profits made, and would use them to buy back shares, which will then be used to pay Chango [12:19] You: in return, Chango is open to providing us developmental work ahead of payments [12:19] You: to help SLW moving faster [12:19] You: rather then waiting to receive the equity before commencing work [12:20] You: Aside from those questions which we need to discuss... the final one is - assuming Chango comes in and starts working [12:20] You: What business would you like to see SLW finish up and launch as it's first product [12:21] Reina Ferraris: I would like to see the Property Management System in place [12:21] You: We have WPM (Wise Property Management), the Ad Network for our ATMs, SL Market Live, or Helpture [12:21] Nya Raymaker: if I may? I am not a really big shareholder or anything - more like the average Jane somebody.... [12:21] You: The fastest one that we can roll out will be the Ad Network [12:21] You: Sure Nya [12:22] Nya Raymaker: and I could not help but notice that most people are a bit - fuzzy as to where SLCapex stops and SLW finishes [12:22] You: SLCX is now split from SLW [12:22] You: SLW is not live yet since it does not have a product to go with it [12:22] Nya Raymaker: now these projects you jsut mentioned used to be under SLCapex..... [12:23] You: it currently (if Chango returns the equity paid out) owns roughly 50% of SLCX [12:23] Nya Raymaker: though I ingeneral agree that someone who does work for a company should hold shares - since this is a big enticement for the work.... [12:24] Snafu Acronym: Nya did you look at the balance sheet for capex when they were paying the programer, were talking millions were paid out [12:24] You: It is Nya - and it will also allow SLW to grow w/o needing more capital [12:24] Nya Raymaker: I for example am trying to make up my mind if I want to hold on to the shares or sell the during the buy back [12:24] Nya Raymaker: so... the point where I am wondering if it is a clevermove or not is to invest all profits into the buyback [12:25] You: We'll try to release some financials this month... [12:25] You: but it's difficult to put together given the scope of the business [12:25] Snafu Acronym: Arb, are these shares tradable shares or are they just held and pay dividends? [12:25] You: They're tradable just like any shares on SLCX [12:25] Nya Raymaker: or if the people who are stuck wiht the shares for the time being would not be a little more happy if they received a dividend for the time they are holding them [12:26] You: The problem with that Nya is that it's a short term bandaid that'll hamper SLW in the long run [12:26] Snafu Acronym: i don't think anything short of a full buy back will satisfy share holders who got stuck with these shares. A dividend would just be wasted linden [12:27] You: The dividend will be more effective in buying back shares which can 1) Please some people as well and 2) Get SLW moving along [12:27] Snafu Acronym: The deal sounds fine as long as SL Wallet is not creating more debt, to me... [12:27] Reina Ferraris: Getting back to the launch of the first business, where would we plae the ads, since we do not have the affiliate network [12:28] You: The Ad Network can be a product itself [12:28] You: it's a 2-sided business... [12:28] You: 1) We place it on our ATMs and spread our ATMs, making revenue on ads [12:28] You: 2) We sell the system so that others can do the same [12:29] Reina Ferraris: I'm all for creating revenue as quickly as possible [12:29] Nya Raymaker: why exactly would a landowner want to place an ATM? [12:29] You: Then the Ad Network will be the quickest one [12:29] You: Convenience is the first one... [12:29] Nya Raymaker: there used to be a sysem compensating via interest earned on the deposits...... what is to replace this? [12:30] You: then 2nd one is that we may redevelop an affiliate network to compensate the owners [12:30] You: We're thinking of something in the range of a fixed referral fee [12:30] You: for new signups [12:30] Nya Raymaker: like... 5 L$ per deposit? [12:31] You: something like that, but not per deposit, but per new account [12:31] Nya Raymaker: hmm.... okay [12:31] elsy Schoonhoven: % would be beter i think [12:31] Nya Raymaker: % smells of interest again ;) [12:31] You: Percentage would most likely violate LL's policy [12:31] You: I'll probably start a thread in the SLW forum [12:32] You: posting the 3 questions asked [12:32] You: to get a general concensus [12:32] Snafu Acronym: Can i make a suggestion about WPM? [12:32] You: Sure Snafu [12:32] Snafu Acronym: WPM has the most potential however there are well established competitors out there. have you looked at that post in the Investment Ideas forum on slcapex? http://www.slcapex.com/forums/topic/investments/1529 There is a start up entrepreneur there who is a lot further along the WPM and making the system. perhaps consider a buyout or licensing deal? [12:33] You: I'll take a look and see what we can do [12:33] Snafu Acronym: i'm not a rep, i just was impressed by the idea, and she'll be a competitor of wpm [12:33] You: but we're 50% of the way completed with WPM, so we need to finish it out before forming any partnerships or affiliates [12:34] You: Did anyone else have a question? [12:34] Snafu Acronym: Can we ask questions about the next buy back, thats in the future :-) [12:35] You: You can, but there's really no tentative date [12:35] Nya Raymaker: well... simple question... whihc of the three projects is ready to go? [12:35] You: the Ad Network would require about 2 weeks to complete [12:35] You: The rest would require about 1 Month [12:35] Nya Raymaker: frankly... people need results [12:36] You: but then again, Chango appears to be faster than the average Joe [12:36] Nya Raymaker: so.... I am wiht the ad system [12:36] Nya Raymaker: hehehe - being a woman I tend to think that fast is not always good ;) [12:36] Snafu Acronym: i would go with the ad network, then wpm. Sl market live needs to be rethought IMHOP [12:36] You: OK - I'll post a thread and you can place your vote there Nya [12:36] Nya Raymaker: but as long as it is fast and functional it is great [12:37] You: What part of SLML needs to be rethought Snafu? [12:37] You: SLML is probably the biggest venture for SLW [12:37] You: most ambitious... [12:37] Snafu Acronym: Well no one is using it, as far as i can see. I'm not crazy about the only being able to purchase one product at a time idea too [12:38] Seargent Crossair: which in your opinion would produce the most revenue to advance SLW [12:38] You: Oh yea, that idea is being scratched already [12:38] You: We're going to rebuild SLML as a regular SL store [12:38] You: Seargent - I would consider SLML as the Cash Cow for SLW [12:38] Snafu Acronym: cool, then maybe people could pay for their product to be on the front page, ad spots. [12:39] Snafu Acronym: although what differentiates you from SLexchange, or hippoPay for WPM? [12:40] You: SLML will be redeveloped to allow individuals to operate their own store [12:40] Seargent Crossair: That sounds like the product that needs to be backed in my opinion , how far along is it [12:40] You: and it will be the one product that will link SL and RL ecommerce together [12:40] You: it's about 1-2 months away from completion [12:41] You: as for WPM - it's leverage power will be in the customer base we have [12:41] You: I believe we carry one of the largest customer base in SL [12:41] You: and many of our businesses will benefit from that [12:41] Snafu Acronym: My vote is whatever generates cash the fastest so SL wallet can get out from under this mountain of debt. [12:41] Reina Ferraris: That is my vote also [12:42] Snafu Acronym: so if Ad network is 2 weeks away and will generate cash, get it done, and start handing out atm's asap :-) [12:42] You: Then we'll probably move forward with the Ad Network, then WPM, and the focus all of our resources on SLML [12:42] Nya Raymaker: besides it will put SLWallet and the products it stands for on the map [12:43] Nya Raymaker: quite literally lol [12:43] You: There is also a possibility that we can get WPM moving at the same time as the others, since it's developer is separate from Chango [12:43] You: What's holding us back is that any available cash we have, has to be used for share buy backs [12:44] Nya Raymaker: that ties neatly wiht the initial question of how many shares to asign [12:44] Reina Ferraris: Which brings us back to Chango's compensation [12:45] Reina Ferraris: I have no problem with compensating him with shares [12:45] Nya Raymaker: what will be the percentage you think you will hold after the next buy back Arbitrage? [12:45] You: It's not whether we should compensate him, but it's How much [12:45] Reina Ferraris: throw out some figures [12:45] You: It's tough to guage right now Nya [12:46] You: Chango expressed he's interested in up to 50% equity [12:46] Reina Ferraris shakes her head [12:46] Nya Raymaker: oh wow ;) [12:46] You: given SLW's par value, that's about $150,000 USD [12:46] Nya Raymaker: he sure knows what he wants lol [12:46] Kadena Whitfield: would it be possible to match the value of his SLCX shares? [12:46] Reina Ferraris: I don't agree with his figure [12:46] Snafu Acronym: what was the deal he had with slcx? [12:46] You: of course, in order for that to make sense, we have to expect that amount back in work... which is hard to do [12:47] You: He received 25% of SLCX [12:47] Seargent Crossair: 150000 USD seems alittle much [12:47] Nya Raymaker: frankly - this amount of shares gives him too much power [12:47] You: Remember, he's just expressing his goal... [12:47] Nya Raymaker: it should be an enticement - not ownership [12:47] You: That's really where we need to be able to do some kind of private vote [12:48] Snafu Acronym: SLW is worth much more then SLCX twice as much according to Stock prices. so offer him 10% of SLW that would be reasonable [12:48] You: OK - so 10% is the first number thrown out.... [12:48] Nya Raymaker: 10 - 15 would have been my estimate too [12:48] You: OK [12:48] Nya Raymaker: that puts him way on top in the share holder list [12:48] Reina Ferraris: 10% seems reasonable and attainable [12:49] You: BUT - remember this... his equity will be bought with SLW profits [12:49] Snafu Acronym: if he likes SL Wallet so much let him invest his money in and reap the rewards to enhance his position. [12:49] Reina Ferraris: Well my first thought was 25% [12:49] You: That's a fair statement Snafu [12:49] Seargent Crossair: I would have to agree with that estimate between 10-15 % [12:49] Snafu Acronym: SLW is worth at least twice as much as SLCX [12:50] Nya Raymaker: if I were jsut in for a profit I would ay let him have the 50 % because that would mean you have to buy back to 50 % no matter where the market goes..... [12:50] Nya Raymaker: frankly though some people might decide to hold on to their dhare [12:50] Nya Raymaker: share* [12:50] Nya Raymaker: so matching the 50 % may be totally utopic [12:50] Reina Ferraris: 50% is too much even with a share buyback [12:50] Nya Raymaker: even 25 % may be utopic if the shareholders finally see results [12:51] Snafu Acronym: as long as it's funded through buybacks, no new debt.. [12:51] You: OK - then what if we propose an initial 10%, with 5% as bonus with certain goals are met? [12:51] Nya Raymaker: reasonable yes [12:52] You: OK - I'll keep that down as the initial proposal... [12:52] Seargent Crossair: thats the ticket [12:52] You: But remember, we do have another meeting at 7pm SLT [12:52] Snafu Acronym: With an ego thats suggesting 50%, i worry about him dumping and running. Milestones would be important here. [12:52] Reina Ferraris: sounds good to me [12:52] Seargent Crossair: 10% is equivilant to 30000usd [12:52] Reina Ferraris: the 5% is a milestone payment [12:52] You: OK - we'll start off with those figures [12:53] You: and once we agree on that, we'll develop the milestone targets [12:53] Snafu Acronym: will there be a RL contract involved Arb? please say yes... [12:53] Nya Raymaker smiles at Snafu [12:53] You: Yes - we'll do a contract [12:54] Snafu Acronym: good, that way we can sue his pants of if he screws us.. [12:54] Snafu Acronym: /smiles meekly [12:54] Snafu Acronym smiles meekly [12:54] Nya Raymaker: arbitrage can - we can't ;) [12:54] You: based on what he's done for SLCX, I dont think we have anythign to worry about [12:54] You: Plus, he may not want to jeopardize his RL business and credibility [12:55] Reina Ferraris: Ok all of this sounds great. [12:55] Nya Raymaker: well.... I for one want to say thanks for the meeting, the answers and some valuable insights gained.... and wish you all a pleasant afternoon / evening [12:56] Reina Ferraris: Thanks Nya same to you [12:56] You: Thanks Nya [12:56] You: I assume we can end the meeting here? [12:56] Reina Ferraris: I second the motion [12:56] Nya Raymaker runs to the coffee maker ;) [12:56] You: OK - Thanks everyone for coming [12:56] Snafu Acronym: i'll be back at 7, it'll be interesting to here the discussion [12:56] You: I'll post this transcript in 15 min [12:57] Reina Ferraris: ok don't remove anything I said [12:57] You: for the later meeting so we don't have to repeat |
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| Mar 3rd, 20:23 Arbitrage Wise |
Re: SLWallet Shareholder's Meeting Transcript | |
| 7pm meeting transcript: [19:04] You: OK - we'll... shall we get started? [19:04] You: I'm going to assume everyone had a chance to read this morning's prospectus... [19:04] You: sorry - chat log [19:05] You: Did anyone have any inputs for what was discussed this morning? [19:05] You: Mainly: 1) Chango's compensation amount and 2) Which business to get rolling first [19:06] Malin Arizona: (flips through papers) I'm seeing numbers thrown around here that seem pretty steep. [19:07] You: are you referring to the 10% plus 5% bonus incentive? [19:08] Cash Yiyuan: 10% and bonus structure seems fair [19:08] Malin Arizona: Definately more sensible than 25% [19:08] Turmith Flamand: What i like about the deal is it's no new funds needed to pay for this person, this person will be funded with the proceedes of a buyback. [19:08] You: I think it's a fair deal, if we base it on SLW's original value (15% x 85M) is roughly $46,000 USD [19:09] You: very cheap in terms of having someone to develop the products needed and having someone there to troubleshoot [19:09] Reina Ferraris: That will include all the products that are brought in? [19:10] Malin Arizona: No argument there. It's in his best intrest to create a quality product then. [19:10] You: I'm under the assumption it'll include any current and new projects [19:11] Reina Ferraris: I am sure you will include that in your contract [19:11] You: but this is all based on the limited chat with Chango [19:11] Malin Arizona: I think we should have a contract of some sort, just to make sure of that. [19:11] You: We will... [19:12] You: Aside from that, was there any other questions? [19:12] You: or concerns? [19:12] You: remember that this isn't a sealed deal [19:12] Bogart Beck: i'm concerned yer wearing a whit tie before Easter... does that count? [19:12] Malin Arizona: SPeaking with some members of SLW, they mentioned a future buyback. Any idea as to when that's going down? [19:13] You: this is only a proposal we'll present to Chango [19:13] Reina Ferraris: Please Mr Beck let's stay to stay on topic [19:13] Cash Yiyuan: ;) [19:13] You: We do not have a tentative date [19:13] Bogart Beck: bah [19:13] You: our goal is to do another one before the end of the month [19:14] Turmith Flamand: Whats your opinion about the offer we've settled on, do you think that will be acceptable to them? [19:15] You: are you referring to the offer we're going to present to Chango? [19:15] Turmith Flamand: yes [19:15] You: I honestly don't know.... [19:15] thx1138 Vanbeeck: maybe you should set an upper limit that you can't go past [19:16] You: but given that most of the projects are 75% or more completed [19:16] You: as well as the time and funds we've spent on these projects [19:16] You: I would assume it's a fair deal [19:16] Turmith Flamand: Whats his future incentive beyond the initial projects? [19:16] You: Well, I'll let the shareholders set the upper limit [19:17] You: He has equity in the business, so there's always incentives [19:17] Reina Ferraris: That is also my concern, the scope of his project. [19:17] You: But... now that you've stated that [19:17] Reina Ferraris: that should be defined [19:17] You: I think the contract may only involve current businesses [19:18] You: any new businesses will probably not be involved... and SLW may have to pay for those projects to be developed [19:18] You: but all of this is just preliminary... we'lll need to talk to Chango [19:18] Reina Ferraris: So which projects will be included [19:18] Turmith Flamand: so were going to pay 8 million in slw shares just to complete the existing projects then... [19:18] Reina Ferraris: if youdon't mind recapping [19:18] You: He may also ask for a salary... but we won't know until we bring something to the tables... [19:19] You: All of the ones listed in the Prospectus [19:19] Reina Ferraris: I was under the impression that these shares were in lieu of a salary [19:19] Cash Yiyuan: so with SLR, does that mean that Chango would be available if required, seems that we are listed in the prospectus [19:20] Snafu Acronym: I had gotten the impression from your post that he was going to be CTO so this was going to be a long term position. [19:20] Reina Ferraris: great point Cash [19:20] You: I would assume so Cash... but that's just my assumption [19:20] Reina Ferraris: and I would agree for that kind of equity he should be available to SLReports [19:21] You: Snafu - this should be a long-term deal [19:22] Malin Arizona: I have to agree. We're betting a lot on this guy...we don't want hime to take his ball and go home. [19:23] You: We'll make sure to do something secure the long-term stability of SLW [19:23] Snafu Acronym: I guess my thoughts are if it's a long term position then it should include new projects. [19:24] Reina Ferraris: He has enough to keep him busy through the end of the year [19:24] Snafu Acronym: like Reina said, shares in Lieu of a salary, his reward can be dividends as SLW makes a profit. [19:25] You: Well, the problem with that Snafu is that in RL, CTOs still receive a salary and not just equity for the additional input of work [19:25] You: otherwise, he's better off billing us for the work, and buying his own shares [19:25] Reina Ferraris: We don't have the revenue to justify that salary at this point [19:26] You: of course... but at some point, additional work will probably require some additional capital payment [19:26] Reina Ferraris: So there should be a time limit also on these projects [19:26] You: That's why the equity deal may only include current projects [19:26] Reina Ferraris: that is fine addressed at that time [19:26] You: for him to finish it out... [19:27] Reina Ferraris: correct [19:27] Reina Ferraris: and include SLReports in that contract [19:27] You: Because it would be unfair for him to put in time w/o any additional pay/incentives [19:27] You: put in *additional time w/o a limit [19:28] Reina Ferraris: agreed, but this is not the matter at hand [19:28] Reina Ferraris: put a time llimit on the shares in lieu of salary [19:28] You: yes... so the 15% will only to be for finishing development of the current projects [19:28] Reina Ferraris: agreed [19:28] You: and possibly some additional add-ons [19:28] Reina Ferraris: yes [19:28] Reina Ferraris: a few [19:28] You: We'll naturally think this through more [19:29] Malin Arizona: So this is still in the planning stages until we hear back fromt he guy? [19:29] You: Yes [19:29] You: This is just what we're going to bring to the offer table [19:30] Cash Yiyuan: those talks will be held asap? [19:30] You: I wouldn't say ASAP [19:30] You: we don't want to rush anything [19:30] You: and need to make sure we do our due diligence on everything [19:30] Snafu Acronym: will his work be required to finish the Ad network? [19:31] You: Yes Snafu [19:31] Reina Ferraris: I am anxious to move forward as quickly as possible [19:31] Malin Arizona: Amen. [19:31] You: We all are [19:31] Cash Yiyuan: ok let me clarify, we need to hold the talks [19:31] Cash Yiyuan: to end this and move one [19:32] Cash Yiyuan: on* [19:32] You: Of course [19:33] You: But this is our first major deal (and frankly, mine as well)... so I want to make sure we do everything properly [19:33] Cash Yiyuan: indeed [19:33] You: and not jump in too fast w/o thinking thigns through thoroughly [19:34] You: Aside from this, were there any other questions? (Besides why did i wear white before Easter?) [19:34] Reina Ferraris chuckles [19:34] Malin Arizona: It's a bit off-topic, but I ahve one. [19:34] You: Sure Malin [19:35] Malin Arizona: As someone who has a fair amount tied up in the WSE, does anyone have their ear to the ground as to when they'll be opening up again, or should I just write it off? [19:36] You: Unfortunately, that's something I can't answer b/c of conflict of interest [19:36] Cash Yiyuan: best to check their website [19:36] Malin Arizona: Fair enough. [19:36] You: Any other non-tie related questions? [19:36] Cash Yiyuan: yes [19:37] thx1138 Vanbeeck: everyone is eager to trade their wtf shares again [19:37] Cash Yiyuan: was it the ad network that was the agreed first product of SLW [19:37] You: I believe it was [19:38] Cash Yiyuan: seeming that we can offer the affiliates something else, it should not take too much to complete the launch, what would be next? [19:39] You: well, WPM is a project deal with a different programmer [19:39] You: so SLML is most likely next [19:39] Cash Yiyuan: ok [19:40] Cash Yiyuan: WPM do we need more funds to get that completed? [19:40] You: well, that's part of the problem... we had to allocate some of it's funds to help with the bank run [19:41] You: so yes, we do need more funds [19:41] Cash Yiyuan: yes that is understandable, as customers are our greatest asset [19:41] Turmith Flamand: How much more do you figure it'll cost to complete WPM? [19:42] You: So we'll need to do some forecasts into what we can bring in this month... and then see if we can manage both the completion of WPM and do a sufficient buy back [19:42] You: 60% has been paid for [19:42] You: 40% is due upon completion [19:42] You: so $4000 USD more [19:42] Cash Yiyuan: I do have a another question - in regards to SLR and SLW [19:43] You: sure Cash [19:43] Cash Yiyuan: so how does SLR fit in with SLW - because how it is set up at the moment for shares, the dividend would not go to SLW [19:44] You: Whatever is in my portfolio belongs to SLW [19:44] Cash Yiyuan: ok I understand [19:44] You: so any dividends paid out to me belongs to SLW [19:44] You: then those dividends are split up accordingly [19:45] Cash Yiyuan: yes that was something that I believe alot of people had a question about and now I think they will understand better [19:45] You: OK [19:46] You: Did anyone else have any other questions? [19:46] Mystic Handrick: I have one.... [19:46] You: Go ahead Mystic [19:46] Mystic Handrick: As I understand it, the Ad Network will take the least amount of time to complete. Finish it first, thenc an each project be completed and launched to help finance the next project? [19:46] Mystic Handrick: Feesable? [19:48] You: No - the deal would involve Chango completing each project... so all the other projects (listed in the SLW prospectus) do not need further financing [19:48] You: Profits made from the first business, and all business afterwards, will be used to do buybacks [19:48] Mystic Handrick: ok...ty [19:48] You: YW [19:48] Snafu Acronym: i agree with that one.. [19:49] Cash Yiyuan: but not WPM [19:49] You: Yes, not WPM [19:49] You: even though he may be asked to help with WPM once what we have paid for (with the other programmers) are done [19:50] Cash Yiyuan: indeed [19:50] Soizie Franciosa: how many buyback do you think will be needed to solve this situation? [19:51] You: There's really no answer to that right now [19:51] You: we're too far away to get a good estimate [19:51] You: Any other questions? [19:52] Cash Yiyuan: is the buy back going to stop at a percentage or at 1.03? [19:52] You: most likely Cash [19:52] Cash Yiyuan: sorry which one was it> [19:52] Cash Yiyuan: lol [19:53] You: oh, sorry.. it'll most likely stop at 1.03 [19:53] Cash Yiyuan: ok :) [19:53] You: i missed the 'or' [19:53] You: Well, I'll motion to adjourn this meeting [19:54] You: I'll post this transcript in the forum, and any further questions can be posted there [19:54] Snafu Acronym: is the intention to do buybacks unnanounced in the future? [19:54] You: Yes Snafu [19:54] You: We've realized an announced buyback would only force us to pay a premium on shares [19:54] Cash Yiyuan: Thank you for your time Arb and everyone :) [19:54] You: NP - everyone have a good night |
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| Apr 1st, 12:48 TGBecky Jewell |
Re: SLWallet Shareholder's Meeting Transcript | |
| What is the determining factor to the buybacks. Who and how decides which customers get their orders filled and which dont. I heard no report of a buyback that supposedly just happend. I have got alot of L$'s in sell orders that have been sitting there for a month or more having just renewed one. Why did they get ingnored if there was a buy back? what can i do aside from selling my "Share"at a loss, that isnt fair since i never authorized the transfer of my balance into worthless SLW shares. just give me my money back Arb and i will leave you alone and never bother you or yout band aof theives again, and give it to me at a 1L$ for 1L$ rate. Allow me to invest my money in my OWN Secondlife business that is up and running and not YOUR pie in the sky big dreams BULLSHIT. after all it was my money that you took without any notice or consent from me and converted to YOUR WORTHLESS SLW share | ||
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| Apr 3rd, 12:22 Shaggy Yer |
Re: SLWallet Shareholder's Meeting Transcript | |
| Same message TGBecky. You should change it a little to suit the message thread. I doubt it will inspire them to answer each one. It is about economics. Every bank in the world fears a run on them. Thanks to laws (Real world only) banks are required to have non-working asesets on hand to pay out. THIS DOES NOT LET HIM OFF THE HOOK AT ALL, but remember you put the money in the JTF without any assurances other than he is able to pay 40% annual interest. There is no FDIC, no banking regulations, and MOST IMPORTANTLY (and the reason real banks won't go near SL) No backed value in the Linden dollar. LL's TOS even specifically says this, and no doubt for issues like this. You are right he would be a crook if he only offered to pay back % on the dollar. Right now that offer is onl to people who cannot wait. Right now, the alternative to waiting is losing money or no money. By all mean keep the daylight and pressure on him to buy back as fast as possible, I agree on that point. |
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| Apr 18th, 22:41 Nyazcawi Perway |
Re: SLWallet Shareholder's Meeting Transcript | |
| having read thru the transcript of Mar. 3, am wondering the status of the projects talked about. we are almost 2 months past that meeting now and i had expected that the AD project would b complete by, now. am i not seeing or reading the correct forum? Arb, pls keep us updated on events so we can make intelligent choices. thx.............nya |
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