|
Date: December 04, 2007, 5:00PM SLT
From: Arbitrage Wise: Chairman, JT Financial To whom it may concern:  Many of our customers and investors that have been with us from the beginning know that we have made plans for this day to disclose our operations and how JT Financial is capable of paying such high interest rates. My old blog (http://arbitragewise.blogspot.com/) has disclosed some of the details about the business, but did not provide the specifics. Recent events, which I'll disclose momentarily, have compelled me to offer a full disclosure of how JT Financial is capable of paying investors the interests promised to them.
Since inception, JT Financial has been supported with revenue earned from the software created by www.juicetrading.com, owned by the RW incorporated business Arbitrage Associates LLC, thus the letters "JT". - Juicetrading is a Sports Arbitrage software program that has been created and managed by our equity partner - a Romanian-based independent software development team.
- Not only are we testing and developing the software for a commercial release, but we are currently leveraging the software ourselves to generate the income needed to further develop the software, as well as pay a percentage of the interest earned by JT Financial depositors.
- The entire business including development, testing, and operations of the software is done by our development team in Romania.
- Because of the nature of Sports Arbitrage and recent legislative action in the U.S., we have been particularly careful and diligent not to market or bring our product to the US market. Our marketing focus and Arbitrage Operation is now, has been, and shall remain fully offshore of U.S. territories. Our near-term primary opportunity will be the European and other overseas markets, where Sports Arbitrage is a vibrant, thriving and fully legal business.
So, why am I disclosing this proprietary and confidential development effort to you today? First some history and perspective; our original goal was to fully develop, test, and market this product within Second Life(tm). We wanted to prove to the SL community that there are indeed viable business models capable of delivering the types of returns that JT Financial has delivered consistently since the beginning. Surely most of you have read slanderous SL articles that claim that every SL Financial Institution must either be a Ponzi or some other form of deception. Our point has been and remains to prove without question that such claims are not always based in fact - hence my Avatar Arbitrage Wise and the Wise Metaverse Empire.
Unfortunately, our current product is not commercially ready, and will not be ready for quite some time. We did not think it was in the best interest of our business to disclose information about a product that is not ready. However, we no longer have the luxury of waiting to disclose our product portfolio and marketing strategy idea until we were strategically ready as our Intellectual Property Rights have been recently compromised and disclosed to a third party - which I must now disclose in the interest of protecting my investment and the investments of my capital partners and the JT Financial customers. Today, I was contacted by Mr. IntLibber Brautigan of Brautigan & Tuck Holdings (BNT), operator of the AnCapex Exchange (ACE) a competing Stock Exchange, and Founder of the SLEC. The transcript of that dialogue is posted here for your review. [10:05] IntLibber Brautigan: You and I need to have a talk about Juice Trading
[12:07] Arbitrage Wise: What did you want to talk about?
[12:08] IntLibber Brautigan: Firstly, I know all about it.
[12:09] IntLibber Brautigan: the US House of Representatives Republican Majority Whip wants a report from us about juice trading to forward to the FBI
[12:09] Arbitrage Wise: k - is that it?
[12:09] IntLibber Brautigan: no
[12:10] IntLibber Brautigan: From here on out you are going to fully support everything the SLEC does, and Bo is going to stop obstructing things
[12:11] IntLibber Brautigan: you will announce that given Skip Oceanlanes' treatment by WSE, you now concur with the SLEC ruling against WSE
[12:11] IntLibber Brautigan: you will stop bashing BNT, and you and your staff will stop trying to bribe and telling my staff to stop working for me
[12:11] Arbitrage Wise: Thanks - but no thanks....
[12:12] Arbitrage Wise: and lastly, we've never bashed nor talked about BNT
[12:12] Arbitrage Wise: I'll end the conversation there...
[12:12] IntLibber Brautigan: Suit yourself
[12:12] IntLibber Brautigan: Expect a news release through third parties soon
[12:13] IntLibber Brautigan: and an FBI investigation Per the conversation, Mr. Brautigan has used our desire not to disclose our trade secret in an attempt to blackmail us into doing what he demands. We therefore felt that it is in the best interest of our investors and customers to hear it from us, even though we do not deem it to be the right time strategically. Since day one of our operations, we have sought appropriate and varied legal counsel and advice on our business practices, as well as have kept accurate detail and history of all our transactions to ensure that anything we do is within the boundaries of United States law. In light of Mr. Brautigan's clear and divisive threat, we are disclosing here for all to review our practices and business model, and, if compelled to do so by appropriate lawful authorities, are prepared disclose the full extent of the feature set and margins on which our platforms operate. Given the nature and clear intent of Mr. Brautigan's actions this morning, I am left with no alternative but to withdraw JT Financial and SL Capital Exchange, and its employee's support of the SLEC. In my view, this is the second attempt in less than thirty days that Mr. Brautigan has attempted to use his position of influence within the SL Community to recklessly and intolerably slander and harm a direct competitor to his SL business interests. As a business owner operating within and adjacent to SL, I can not condone, nor can I responsibly or conscionably recommend or support any individual, business or entity that would stoop to outright blackmail as a tactic for doing business. As such, JT Financial and the SL Capital Exchange will no longer recognize the SLEC as an entity, nor shall it recommend or endorse any parties associated with the SLEC or BNT Holdings. Frankly, there is enough drama, corruption, and grievance already. Individuals and businesses should achieve success and prosperity on their own merit, not through the deceitful, manipulative and clearly unethical tactics that were demonstrated today. For the record, we have NEVER published any derogatory statements regarding Mr. Brautigan or any of his entities - we made a sound business decision several months ago to disassociate ourselves from BNT - perhaps you now see why. Respectfully,
Arbitrage Wise
Founder, Chairman
JT Financial
|
