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SL Capital Exchange Announcement
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Written by Cash Yiyuan
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Saturday, 05 January 2008 |
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SL Capital Exchange today posted information regarding future developments and upgrades with little downtime. SL Capital Exchange has paved the way for investors, entering 2008 totally 100% Debt free! Announcement from SL Capital Exchange: SL Capital Exchange (SLCX) - CEO's Report - 01/05/2008
Now that the Christmas Season is behind us and folks have had a few days to consider the results of 2007 and prospects for 2008 I thought it might be valuable to drag that ol' soapbox outta the SL CapEx closet and share some of the vision Arb and I have for the coming year.
A few housekeeping items are in order right out of the gate to help our Shareholders and prospective Investors better understand our year-end results. Foremost, we finished the year VERY strong with two consecutive months of positive free cash-flow which allowed us to pay a special year-end dividend of L$300,000 to our sharehsolders and still managed to bank some retained earnings for the corporate coffers.
Arbitrage and I spent a considerable amount of time this past month discussing the needs of the business going forward and how to best serve our shareholders and member companies. I am very pleased to report that Arbitrage and JT Financial have agreed to several SUBSTANTIAL Financial accomodations for 2008 that will help give SLCX a firm foundation for the future, as follows;
(1) JT Financial has RECALLED and CANCELLED the SL CapEx $8M NOTE (the Funds that were LOANED to the business to purchase the former AVIX Exchange in 2007). As a going concern SL CapEx enters 2008 100% debt free for the first time! Woot
Note: Arbitrage will continue to fund the AIG/AFB Settlement until that obligation has been paid-in-full.
(2) In OCT. 2007 we were successful in converting 100% of the SL CapEx Payroll and Personnel expense to a 100% Equity-based compensation plan which will be funded entirely out of the Arbitrage/JTF SLCX Holdings... this accomodation will save us approximately L$16K per month in payroll expense. Shareholders may notice we actually even received a L$32K payroll rebate as a non-cash adjustment to correct the Income Statements for October and November.
(3) SLCX's 2008 Office Space for the three floors we occupy at JTF have been allotted to us RENT FREE for Fiscal Year 2008 - about a L$20K per month savings.
Assuming we are able to hold the line on our other two variable expenses, (our Hosting Charges with GoDaddy.com and the fees we pay to Tango 11 LLC - our Exchange Software Developer), these concessions by JTF and Arbitrage position us very well for a profitable year - thank you Mr. Chairman - you da' MAN!
I want to spend a few moments (without spilling all the beans) talking about the Software Feature Enhancements we have in the works. As most of you know, we took a short development break in December to give our developer a little breathing room to finish up a few other projects in their queue... we'll be right back at it though beginning this month with the following planned upgrades either in-progress or on the drawing board;
The first one is LONG OVERDUE considering the difficulty many have had in trasitioning to a GAAP-based Reporting metholodology (which we firmly believe is a fundamental prerequisite for any Financial Reporting compliance effort. We anticipate being able to support a relatively simple (single-step) Income Statement and Balance Sheet Reporting mechanism to be ONLINE by the End of January... this will allow us all to post and review Financial Statements for all companies on a consistent, standardized basis... more information on that feature to follow AFTER the December Financial Reporting Review (DUE NOW!!!).
SUBTLE SIDEBAR: If you are still struggling to produce accurate Financial Statements (both an INCOME STATEMENT *and* a BALANCE SHEET are REQUIRED EACH MONTH) please PLEASE consider engaging one of the MANY qualified persons that have offered their services in and around the Exchange (Hint; both Guardian and iVentures are WELL-Qualified and relatively inexpensive when considered against the PENALTIES that WE WILL BEGIN ASSESSING AGAIN THIS MONTH... you have been forwarned ;-)... your shareholders DESERVE and NEED ACCURATE RELIABLE REPORTS!
One of the reasons we are moving to an Integrated ONLINE Reporting System is to enable some very sexy Charting Features for Investors to use in their Stock Trading analysis activity... some way cool stuff albeit likely a Q2-Q3 launch.
We are also working on a re-write of the IPO Prospectus Module which will allow member Company Executives to Edit and Update their Business Plan during the year as the strategies and personnel of the businesses evolve.
We're also considering implementing a SEARCH Function for the Forums. More to follow on each of these Features as they move closer to reality.
Given recent events I am compelled to share one of SL CapEx's principal Axioms:
We, and our Development Partner are committed to supporting a 7 x 24 x 365 Trading Environment to the best of our abilities as we believe such accessibility is a fundamental REQUIREMENT of any World-Reach trading platform.
100% of our Development and Testing is accomplished offline on parallel platforms. That helps assure MINIMAL DOWNTIME during upgrades and fixes. We are committed to maintaining that quality assurance going forward. THANK YOU TANGO11, LLC. !!
I'll leave you this month with two final thoughts; we remain committed to combatting Fraud and Abuse on our Trading platform. As previously announced, we will continue to contribute 5% of our monthly Retained Earnings (Post-Dividend) to the SL CapEx Fraud Fund... yea, it's growing every month... good insurance!
We're continuing to see good quality IPO and secondary prospects returning to the market... we're already BOOKED for JANUARY AND FEBRUARY... AMAZING!!
On behalf of the entire SL Capital Exchange Team THANK YOU for supporting our platform and member companies - we appreciate your business and trust, and wish you great fortune in 2008! Well... Time to put the soapbox back in the closet.
God Bless,
Bogart Beck
SL CapEx CEO
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Last Updated ( Saturday, 05 January 2008 )
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