Aug 21st, 16:26 system announcement
by Bogart Beck
NOTICE OF DEFAULT ISSUED - Kush Islands (HOT) - 08/21/2008
NOTICE OF DEFAULT ISSUED - Kush Islands (HOT) - 08/21/2008 - 04:05PM SLT
To Whom it May Concern;
This message constitutes a FORMAL NOTICE of DEFAULT issued to Kush islands (HOT) pursuant to the continued Listing Requirements as published at SL Capital http://www.slcapex.com/content/listing
Should appropriate remedies NOT be made on of before 11:59pm (SLT)08/31/2008 HOT will be DELISTED for CAUSE.
It is our understanding that Vitall Beck, acting as Interim CEO, is making progress toward restoration of HOT as a viable entity, however, time is of the essence and a fully qualified Board of Directors ratified by a plurality of HOT Shareholders, and a successor CEO who meets or exceeds the minimum listing requirements must be named and appointed before the forementioned delistment deadline.
Respectfully,
Bogart Beck
SL CapEx CEO
==========================
08/21/2008 - 04:54A
Vitall Beck HOT status update
Dear HOT shareholders,
First of all, I would like to thank Clintovius Trotter for the efforts he put so far in order to keep the company afloat. Given the current gloomy situation with SL economy in general, and land market in particular, he definitely had to fight a tough uphill battle...
Following is a short update on the situation the company is currently in. All HOT sims has been transferred to my account and tiers to Lindens paid, so there is no immediate threat of losing the company assets. However, HOT currently has no working capital, and occupancy rate is extremely low - below 40%. Effective occupancy rate is lower still, as about half of the residents are not paying their tiers... So, according to my estimate on-going tiers revenue is barely covering 1/3 of HOT estate fees. So, the company continues to lose money, and it does lose money fast.
In order to turn around the situation, a very immediate task is to increase the land occupancy to a more healthy level allowing the company at least to break even on tiers.
So, we started a "fire-sale": for a limited time, all unoccupied land on Kush islands is on sale for 1L$/sqm and even below. A wide selection of plots (ranging from 2048 to full sim); is currently available, including such unique offering as Opensim plots with FULL PRIM allocation.
In addition to this we initiated a "referral" program for Kush residents AND HOT shareholders- yes, FOR YOU. ;) Now you too can help the company while making good profit from it. PLEASE let ALL your SL friends and acquaintances know about a great limited&-time opportunity to buy land at one of the best Residential estates at a very attractive price! Once you've informed your friends, just IM me the list of your referrals, if one of them buys the land on Kush islands, YOU will get 50% - yes, one half! - of initial land purchase amount.
Please do not miss on this great opportunity to help yourself and your company! Act today! :) Forward everyone you know this SLurl:
http://slurl.com/secondlife/Kush////
Thank you, and I will keep you updated on further developments.
Regards, Vitall Beck
=====================
Aug 10th, 18:22
Clintovius Trotter Kuss Islands has new Interim CEO
Primary shareholder, Vitall Beck, has stepped up as Interim CEO of Kush Islands and personally covered the upcoming payments due to Linden Labs. The transfer of regions should take place sometime this week.
While there are still challenges ahead, there is now light at the end of the tunnel. No Kush regions have been, or are foreseen to be abandoned. Residents have been informed and tier income should continue.
Current financial report has also been posted.
Yours,
Clintovius Trotter
Former Kush Islands CEO
============================
HOT - Kush Islands HALTED Pending NEWS - 08/07/2008 - 2PM SLT
08/07/2007 - Clintovius Trotter URGENT NOTICE SENT TO RESIDENTS OF KUSH ISLANDS
Residents of Kush Islands ...
As you must be aware by now, our population is dwindling and sales are very slow. This can be attributed to many things. But, the most common complaint is the RL economy. The SL economy has been suffering as well. Indeed, as CEO of Kush Islands and the party responsible for the company's tier payments to Linden Labs I am finding it increasingly difficult to maintain my role here.
As a result, I am forced by the requirements and economy of my own RL to step down immediately. While I informed the company's shareholders of my imminent departure some time ago, no one has stepped up to either buy, sell, merge or take over as CEO. For the last two months I have covered tier short fall out of my own pocket. The consequence of this is that I am forced to abandon all Kush Islands sims before the next payment is due to Linden Labs. That date is 8/9.
The unfortunate consequence of this will be that any resident whose objects have not been taken into inventory will lose those objects.
There is a possible solution:
Some resident(s) or interested party(s) may want to purchase one, some or all of the Kush Islands. A very cheap price can be negotiated quickly. The transer would take 5 - 7 days and would require the purchaser to cover the next 2 payments to Linden Labs (due 8/9 & 8/10 and totaling $1180 u.s.)
Whatever the case, any interested or concerned parties have until 8/8 12 a.m. EST (8/7 9p.m. SLT) to inform me of their intentions. If nothing has changed, I will abandon all Kush Islands sims as soon as possible. This might give concerned residents a few hours while I sleep to clean up their objects. No guarantees. I may be able to save some of your objects by returning them ... if I have time.
It has been my pleasure to meet all of you. I regret this unfortunate turn of events. I hope that my history of willingness to be flexible, understanding, and accomodating will speak for itself. I only hope you will grant me the same consideration.
Yours,
Clintovius Trotter
contact me at kushops@gmail.com