Remember the past to improve the future.
Capital Stock Exchange Projects Income of L$400,000+ For April
By: Carter Allegrant
Capital Stock Exchange (CAPX)- Today the Capital Stock Exchange CEO , Mr. Skip Oceanlane, released a great announcement for share holders of his company and one that will surely drive up the price of shares in the short run. The document states that if current market trends continue to be same Capex will be able to achieve an income of L$400,000 for the month of April which would certainly set a record in company profits since the new management took over.
This profit comes in great part from the SPO in which Mr.Oceanlane sold L$240,000 worth of his own stock holdings and donating the proceeds to the company. An action that should be considered a good example of his commitment towards the success of the exchange. In addition to that source of revenue increasing advertising sales and transaction fees have also managed to boost the profit margin further into the green area.
Without a doubt we can all see that this increase in revenue shows that there is an audience out there for virtual securities and that if the exchange is managed with honesty and professionalism the trust of the Second Life public on virtual markets can once again be restored. This is what we have all been waiting for an its wonderful to see the fruits of our labor as traders finally beginning to show. If the announcement projection is accurate all debts will be paid by June making the company’s profits available entirely to investors in the form of dividends.
My earnest advice at this time is to buy some shares of CAPX if you can get them at the right price as am sure you will profit down the road if current market trends continue. Right now we are experiencing a rebirth of stock trading and we should all work hard to continue building and strengthening the market.
I look forward to hearing your thoughts on this great news,
Metaverse Business Journal- Chief Editor
Mykos Corporation Makes An Important Announcement
By: Carter Allegrant
Capital Exchange – (MYK) Today the Chief Executive Officer of Mykos Corporation, Mykos Inglewood, released a very interesting announcement to the shareholders an traders of the company in which it claims to have acquired 50% ownership of a whole new stock exchange platform as well as a social network. The announcement then goes on to say that the company had no money to finance the purchases in the following fashion ” Mykos will own 50% of the Myex. This will make it the biggest shareholder in the Myex company. Now such endeavors accrue a great deal of cost. I can tell you from jump start Mykos corp doesnt have the budget for such an ambitious endeavor.” A fact that should be worrying in its own right because if the purchase wasn’t justifiable by the income then it should have never taken place a fact which is not mentioned in the press release by the company. Mr. Inglewood then proceeds to reaffirm this by stating ” My point is Mykos corp has been successful but it has not been successful enough to pay the necessary cost to create such a platform, pay hosting fees and upgrade and maintain such an endeavor.”
So far the announcement only points out what appears to be a faulty management decision by the management team but something that can be contained and fixed to a certain extend. But the real problem I had with the press release ,and the one that I believe needs to looked into by shareholders, is the use of Treasury Shares. The following is an excerpt of the relevant section:
“So i wish to implement a few changes effective immediately. Since our merger We’ve had issue with treasury stocks and im not even 100% clear on this situation after the merger. However, here’s what’s goign to happen. im goign to vote my controlling ownership in Mykos corp, to have these shares sent back to myself as ceo compensation. Now i hate to vote on my own salary, but here’s the problem. One thing is the company can’t pay for the platform or any upgrades to programming and what have you. So i will front the bill for this. However i will vote to take possession of the treasury shares and the treasury shares issue will end with that. Now as far as those that have a problem with this. Here’s what they need to know. This platform will add great value to oru share price as Mykos corp is now 50% owner of the platform. We wish to turn M magazine into a big social network that uses this site.”
Now the first issue I see with this is the way its worded and how it announces a major decision by the management without any prior debate in the forums. The whole section as well as most of the report comes across as ” this is what is going to happen you either go with it or sale your shares” which leaves a lot to be desired from a public relations point. However if we put that aside and focus more on the validity and ethical implications of the changes we can see there are a few problems.
The first of which is that the Mr.Inglewood ,using his majority of shares, plans to basically grant himself all the remaining share treasury shares the company has which amount to 3.5% of the whole company (MYK Treasury/Company Shares: 47,271 (3.45%) ). At the current last price of MYK (1.97L) that would mean approximately 93,123L or $373.99 USD worth of assets shifting hands. This Mr.Inglewood claims in exchange for fronting the bill for the new acquisitions “So i will front the bill for this. However i will vote to take possession of the treasury shares and the treasury shares issue will end with that.” Needless to say both of the purchases were made without a shareholder’s vote or prior notice so Mr.Inglewood , for all we know , could have made the purchase of something that would look like an exchange knowing the company could not afford it and then said I will lend the company money in exchange for the treasury shares.
The second problem is that although this behavior from the management team is improper there is no way for shareholders or the exchange to act to prevent the injustice. Mr.Inglewood holds 50.92% of the company and that gives him the authority to do as he likes and is the danger of having a CEO that owns the majority of shares in the company. That is why investors must always weigh carefully how honorable the management team of a company is when investing in a venture that doesn’t have a majority of shares held by the general public.
My advice to shareholder in this situation would honestly be to sell their shares of the company since there is really no way to stop the vote of a majority shareholder. Furthermore once the measure is passed Mr.Inglewood will own 54% of the company and there will be no way of checking his decisions. He will also be required to delist from the Capital Exchange due to his purchase of Myex exchange so it is very likely he will re-list there and claim himself CEO of the exchange. From there on he is untouchable and not subject to other regulations than his own.
It is indeed a sad day for Mykos investors and I really hope Mr.Inglewood will change his mind and do the right thing but I know that’s very unlikely.
I would like to hear your thoughts on this,
Metaverse Business Journal – Chief Editor.
I just wanted to let you know that as of April 14th we have had 480 views while last month we only had 223. That is a a growth of 115% and the month is not even over yet.
Also we have began to successfully distribute our news stands in many in-world location and received many offers of support and sponsorship from virtual companies. Yesterday a new sponsor joined our team and we are currently negotiating with a few. This will help us to expand our revenue and use it to bring you a better website with much more content.
If you want to be part of this magazine’s expansion there are several ways you can help:
1. Contacting me in-world or at CarterAllegrant1030@gmail.com to see advertise on the website side bar. Our prices are really affordable and design to meet your businesses needs.
2.Promoting membership into our in-world readers group ” Metaverse Business Journal” by requesting and invite and referring people to do the same.
3.Placing our news stand module in your parcels and giving out to friends and associates to put in their land.
4.Actively showing support for the publication by commenting and participating on our posts.
5. Submitting news stories or ideas for things you would like us to feature on our magazine.
Together we can make this publication grow and become the best source for business and education news in the Metaverse and show everyone that virtual worlds can be a viable platform for business.
Thanks for your continued support,
Metaverse Business Journal – Editor.
CAR : The Rise of Frageurs Hock
By: Carter Allegrant
Two days ago the Capital Stock Exchange announced that it was negotiating to bring Frageurs Hock’s company CAR back to the trading floor. Some of you may be familiar with history of the company and how its not precisely spotless while there might be some newer investors who don’t know anything about it. This article is a brief guide to the company and its owner intended to facilitate investment decisions should the company be once again listed publicly.
The owner of MH ( a sub-brand of CAR) began is career in Second Life as a security employee at Xanadu International Space Station and then used all his earnings to get into the real estate market where he made several successful purchases and make a popular Realtor and land tycoon. Once he had achieved a good level of growth and developed a business model he created what became known as the MH Group. The newly created company went on to manage and make transactions with millions of sq. meters of virtual land and continued to achieve a decent growth.
A while after that Mr.Hock decided to submit a Initial Public Offering to the World Stock Exchange led by LukeOconell which was promptly approved. CAR spend months in WSE before deciding to switch to the International Stock Exchange which is were things turned began to go wrong. Today there are little records left surrounding the transition made by CAR but our magazine was able to find a few interesting posts from the ISE forum. Please note that the following are highlights and not copied in order, for a full version of go to http://www.intlstockexchange.com/punbb/viewforum.php?id=25.
* For a full size version of the images just click them*
Figure 1 ( Suggestion of Trading halt for CAR)
Figure 2 ( Suggestion of Trading Halt for CAR)
Figure 3 ( Suggestion to of Trading Halt for CAR)
Figure 4 ( CAR Price Closer to reality)
The conclusion is there are two possible versions of the transition from WSE to ISE . The first one is that Mr.Hock had nothing to do with the fact that the World Stock Exchange did not stop trading of their company once they had announced they were delisting and therefore the investors were scammed by the CEO of WSE . The other version is that CAR shareholders were not sufficiently informed of the transition and therefore continued to buy shares from the WSE and Mr.Hock was responsible because he did not take enough measures to ensure all his shareholders were informed and/or was in league with Luke Oconell. The reader should decide which version is more accurate and make its investment decisions accordingly.
Another important think to consider is the fact that after the transition CAR really didn’t publish a lot of financial material in the forums, they might have done it through the main page story posts but those are no longer assessable so we can’t really measure how well the company did during its stay at ISE. Furthermore if we take the accounts of the investors to be truthful and accurate we can see that the price had reached a 0.1L amount and a lot of time passed by with no financial reports nor dividends.
Finally there is also one more interesting thing to consider if CAR is allowed to trade once more. At some point in their history, very likely after they had moved to ISE, combined with the companies EM Cars and N4S in the largest merger in SL automotive history. The three companies now are operated under the brand name of EMH. Now we don’t really know the terms of the merger but from a look at the in-world EMH Group we can see that the company currently has three additional owners besides Mr.Hock. A fact that could make it very difficult to divide shares at Capex since 20% of the company must be available to the public.
My guess is that all we can do now is quite and see the terms Mr.Oceanlane negotiates with Mr.Hock and the information the company will provide in order to be allowed once more into the trading floor. I have no doubts that as of right now the company makes a decent amount of profit since its able to maintain a full showroom sim but before you invest your money on the company I advice you to make a diligent background research on your own and reach your own conclusions before making a final decisions. There are somethings that need to be looked at.
As always please feel free to leave your comments and participate.
Metaverse Business Journal- Editor
Roadblock For Progress : Attempts to Silence The Media.
By: Carter Allegrant
I write to you today to inform you of a very sad thing which I think is vital to make public. Yesterday while I was working out placement opportunities for our in-world newspaper stands I came across someone who attempted to intimidate our magazine into disregard acts which are clearly wrong in my opinion. This person claimed that he had IM Logs from conversations I had with Second Life Business owners and termed that he found their content ” Interesting” while hinting very delicately that he should watch out our content in future posts.
I owe the success this magazine has had so far to you and that is why I want to make clear to all of you who enjoy this paper that we will not bend to anybody’s threats and we will continue to report all news that are worth reporting. I am personally astonished at the gross attempt to silence our posts and more so of the person by which it was carried. I want to ensure you that if there is any such logs in existence I have nothing to hide and that I am not afraid of this individual coming forward with them. ( He already obtained the logs in violation of the Second Life Terms of Service which clearly state that no conversations may be shared with others or published without express consent of both parties.). If this logs really exist and are not forgeries then I will not hesitate in taking the matter up with Linden Labs.
Will keep you posted of any new developments,
Metaverse Business Journal- Editor.