Press Release: 02/05/2010 -  MetaMeets Internet Conference Registration Opens Registration

 SUMMARY:

"The MetaMeets 2010 Internet Conference opens just as the 2009 movie "Avatar" has become a spectacular introduction to the idea of virtual environments. The conference, like the movie, is a bridge for the public to see what’s possible in a way that begins to draw them to virtual as well as real life. The conference will be available May 7th-8th in both Live and Virtual formats. For more information see www.metameets.com."

LIVE LINK: www.metameets2010.com/press_release.html

HIGHLIGHTS:

. MetaMeets 2010 follows its successful inaugural conference last year in Amsterdam, Holland. “Metameets” appeared as a Top Ten Twitter Trending Topic on three separate occasions.

. There were 140 Million active virtual world users in 2008, projected to increase to 2 Billion by end-2013.

. The 2009 movie "Avatar" is the first film to reach 2 Billion USD worldwide and has been nominated for nine Oscar Nominations .

. MetaMeets presentations, discussions, and networking activities will be streamed from the live location to virtual environments and will include participation from virtual attendees.

. The Digital Hub is an Irish Government initiative to create an international centre of expertise for knowledge, innovation and creativity focused on digital content and technology enterprises.

For program, registration, and travel information see the conference website at www.metameets2010.com

CONTACT:
 Elisa Butler
 Email: This e-mail address is being protected from spam bots, you need JavaScript enabled to view it
 Skype: bevan.whitfield

The following Announcement is being reposted from SL CapEx to gain wider distribution to its audience. Please visit http://www.slcapex.com/forums/topic/JTIC/2823 to join in the discussion.

Thank you.  Bogart Beck

SL CapEx places JTIC into Receivership – 01/15/2010

To whom it may concern;

Almost a year ago the SL CapEx BOD made the difficult decision to seize control of Arbitrage Wise's SLW and WPM enterprises. While certainly an unpopular action for some, in the end it would appear we made the right decision. At that time, Arbitrage made specific commitments regarding his obligations, including a pledge to buy back 100% of the outstanding JTIC shares by year-end 2009. Clearly, that has not occurred in any measurable manner, and, ongoing recent dialogue between Arbitrage and the SL CapEx BOD has lead us to believe that he is no closer to settling those obligations than we were a year ago. As such, the time has come, once again, for SL CapEx to intervene on behalf of the JTIC investors. While a case could perhaps be made to allow JTIC to continue to trade indefinitely, we have arrived at the conclusion that many have suggested is long overdue - it's time to close this chapter, turn the page and move on.

So... now what? As with most of the messes we've been left to clean up, this one will be no easier than any of the others. As of 01/15/2009, EXCLUDING Arbitrage's JTIC holdings, 123 persons held the remaining 4,587,279 JTIC shares. At $0.60 per share, (JTIC's closing price Average over the last 30 days), that represents just over L$2.75M in Market Capitalization secured by virtually ZERO tangible assets and no foreseeable positive outlook.

Dare I say that's more financial risk than even Scott and I are willing to digest independently.

Over the last week or so we've looked at a variety of options and possibilities - none would likely provide much satisfaction for JTIC investors. Coincidentally, during that same time frame Andy Grant has been socializing an IPO concept (RA) that he's developed over on ISE, (See http://www.intlstockexchange.com/punbb/viewpoll.php?id=1409 ). While Andy and I sometimes disagree on policy issues and implementation, and technical trading strategies, in this case I think he may be on to something that could help fundamentally reshape the SL Investment landscape, and, may also help us provide a solution for the JTIC situation.

Andy's basic structure is a weighted, actively managed ETF with a corresponding inverse derivative as a stop-loss hedge. While Exchange Traded Funds are nothing new (it all comes down to the trading performance of the Fund Manager and the portfolio), what I do find compelling about Andy's concept is that the derivative product appears to be the very first in SL Finance that cannot be arbitrarily priced by the issuer or underwriter. If that's accurate then it's potentially a profoundly positive game changer.

I think Andy’s hypothesis assumes that the quantifiable risk of an Inverse derivative is directly proportional to the volatility and liquidity of the opposing asset portfolio. Thus broad diversity of the asset portfolio is fundamental to the risk mitigation strategy.

My concern for Andy's product at this point is the relatively small scale of the underlying ETF portfolio, which, while diverse, is at present somewhere in the neighborhood of just L$50K + cash, less the inverse derivative's liability. I think the small scale may be intentional - a "pilot" project to test the hypothesis – if that’s the case I wish Andy and the shareholders good fortune.

That brings us to the launch point for discussion regarding JTIC and the disposition of its investors. As I’ve mentioned, Scott and I are not prepared to independently bail out the JTIC investors – it is just far too expensive with no near term upside opportunity. We can, however, offer assistance by leveraging our existing pool of assets in a manner that builds a foundation for future growth and concurrently provides the potential to hedge against further losses. We’ll ultimately test Andy’s hypothesis on a larger scale.

In a nutshell, here’s what we’re proposing;

1. SL CapEx would form a NEW Exchange Traded Fund as a subsidiary of SL CapEx, however with its own tracking Stock.

2. SL CapEx then places its “Long Term Investment Portfolio” (current NAV of approx. L$1.9M) in an ETF Trust Account.

3. The ETF then acquires all remaining shares of JTIC (excepting Arbitrage Wise’ shares) at a predetermined Exchange Rate.

4. The ETF also acquires BTX to secure its asset portfolio (current NAV of approx.L$2.8M) w/ ETF as sole surviving entity.

5. SL CapEx would appoint Bogart Beck as the Fund’s Portfolio Manager and ETF Trust Administrator.

6. SL CapEx to allow a brief (indeterminate) timeframe to normalize ETF’s trading range and assess its portfolio volatility…

7. … ETF to launch an Inverse Derivative product using a methodology similar to that of RA and Andy Grant’s hypothesis.

Please find below a brief synopsis of the ETF Launch Capitalization structure required to account for the current Market Cap of JTIC and BTX which both historically trade at a substantial premium to their Net Asset Value.

1. Formation of ETF with 8M Authorized shares at L$1.20 per share for a total Market Cap of L$9.6M

2. Acquisition of JTIC with a merger Exchange Rate of 0.5:1 (0.5 ETF Shares for each 1 share of JTIC) Values JTIC at L$0.60 per share - its 30 day closing average.

3. Acquisition of BTX with a merger Exchange Rate of 2.5:1 (2.5 ETF Shares for each 1 share of BTX) Values BTX at L$3.00 per share - discounted but close to its 30 day closing average.

4. The initial NAV of ETF held securities would be approx. $4.8M ... not too bad (50% of its Market Capitalization).

BTX, CAPX and JTIC have been halted immediately prior to the posting of this proposal to allow for wide distribution of this material, previously non-public information. Each shall remain halted for an indeterminate period to allow for discussion and non-inflammatory debate regarding the merits of this proposal. We hope this proposal finds favor with all of the constituencies involved and look forward to some lively discussion regarding its viability

Please post any comments or questions you have regarding this publication in the following SL CAPEX FORUM ONLY.

http://www.slcapex.com/forums/topic/JTIC/2823

The management of SL Cap Ex will review and respond to each comment or question as appropriate and time permits.

Respectfully,

The SL Cap Ex BOD

May 22, 2007 – the date seems innocuous… what of it? For those of us involved in the SL Finance community it is the birth date of the SL Capital Exchange, or rather its predecessor, AVIX. For most of us the journey has been one long, strange trip indeed; enduring one crisis after another, scam upon scam, and ban upon ban. Regardless, we’ve persevered in spite of the actors and actions that have preyed upon this loose confederation of souls thrown together from all walks of life in pursuit of what?

One common goal? Highly unlikely, but let’s pursue that thought for a moment. For as long as I’ve been here, SL CapEx’s marketing tag line has been a very simple question, “Can you beat the market?”

For the majority of us the answer has been a resounding NO. It does beg the question, “Can anyone?”

December 13, 2009 – another seemingly innocuous date, but one that should be remembered for a long time by those of us that have studied Economics with any degree of sincerity. For on this date the most influential economist of the 20^th century, Paul Samuelson, passed away at 94 years young.

So why is Samuelson important to us? Foremost, he was the first American economics Nobel laureate, author of the textbook “Economics”, first published in 1948 and used in most every college finance curriculum world-wide. More important to our quest, however, Samuelson is regarded as the champion of post-Keynesian or neo-classical economic synthesis upon which most of the intervention policy decisions of SL CapEx are based.

Huh? Let me explain… whereas Keynesian theory argues that Private Sector decisions lead to inefficient markets thus REQUIRING Public monetary and fiscal policy via Central Bank intervention, such policies generally conflict with approaches that assume a general tendency toward equilibrium. In a marketplace such as Second Life, where the “Central Bank” (Linden Lab) monetary policies tend toward a laissez-faire bias (notwithstanding LL’s pegged Exchange rate – we’ll get into that some other time) some “Other” intervention policy must be introduced – thus SL CapEx’s adoption of neo-classical economic synthesis.

Neo-classical synthesis overlays many of the Keynesian macro-economic concepts on a micro-economic based foundation where the theory and condition of general equilibrium allow for price adjustment to achieve policy goals. While I’ll admit that this basic explanation is rudimentary and somewhat flawed (we can debate Economic theory some other time) it may help some of our readers better understand the rationale for SL CapEx’s recent relaxation of its Circuit Breakers for a short time frame. Whereas in a Keynesian-based model, the regulatory body would introduce additional capital into the marketplace (much like the US FED’s $700+ Billion bank bailout), our very brief intervention simply REDUCED regulation until general equilibrium was achieved. Dare I say that such “policy” is more effective given SL’s unique Central Bank and our own relatively small role in the overall SL economy?

“Free markets do not stabilize themselves. Zero regulating is vastly suboptimal to rational regulating. Libertarianism is its own worst enemy!” – Paul Samuelson

So, on to 2010, I’ll reiterate “Can you beat the market?” Paul Samuelson would have argued that it’s statistically impossible. In 1965 he published a paper explaining that in well-informed and competitive speculative markets, price movements over time will be essentially random. This concept forms the basis for a theorem called “the efficient-market hypothesis”. While I can’t claim that our marketplace is always well-informed, it is certainly competitive and surely speculative. Basically, the efficient-market hypothesis asserts that financial markets are “information efficient”, or, that prices on exchange-traded assets (i.e.; stocks, bonds, etc.) already reflect all known information, and instantly changes to reflect new information. Therefore, according to theory, it is impossible to consistently outperform the market by using any information that the market already knows, except through luck.

I’ll leave you with a final thought. I’ve noticed that discussion of Put and Call Options in the SL Capital Markets has ebbed considerably over the last few months. Could it be that the purveyors of such products have recognized the critical flaw in their Pricing methodologies? Our hero today, Mr. Samuelson, is also largely credited with the rediscovery of French mathematician Louis Bachelier, whose ideas underpin the Black-Scholes Option-Pricing Model. Perhaps we’ll discuss that more next time.

Regards,