|
For SLReports.net CEO of Multiple Companies Has a Full-Plate...
No one is denying the fact that Travis Ristow is a busy guy. In addition to his capacity of CEO of BCXS(ISE), BAM(ISE) and DWIF(ACE), Ristow also spends a great deal of time operating his DWIF(ACE) company assets in Entropia Universe. It is enough to drive even the most multi-tasked individual to madness.
Shareholder communication has for a period been an area of deficiency for Ristow, and the recent migration of NDX(SLCAPEX) to the Ancapistan Capital Exchange(ACE), where it was rechristened DWIF(ACE), highlighted this situation more than ever.
In the recent weeks, however, Ristow has been devoting more time to assessing shareholder concerns, and trying to shore up relationships with shareholders and potential shareholders.
A private loan between Scott Nestler of NIC(SLCAPEX) and Ristow has become an open feud spanning three exchanges while Nestler seeks out compensation from Ristow. While by all accounts the loan was a private one, the details have been thrown into the public arena as Nestler appeals to management at ACE and ISE to assist in his efforts. Responding to questions raised in the BCXS(ISE) forum regarding forward guidance, Ristow stated, "You are correct that BCX has not given a dividend in about a year - I think that is a given since it had not been earning money - if it is not earning money then it cant pay a dividend. It is also an incorrect statement to say that 'on that market change succed to adapt (with less or more success) to the new situation'. Most companies that were in the actual Banking or Lending on land sector did NOT adapt and succeed - at least 90% failed. Now BCX & BCXLF ( Now BCXS ) are both without assets other then what I am giving them from my portion of another company that is still in it's infancy. So can I ask what else you propose honestly? I guess if you have a free and profitable company just laying around & would like BCXS to benefit from it just give me a ring. I have been working on this since the ban - is it a slow process? Certainly - but I ask you - Has there been progress towards the goal? I truly do not understand what else you think I can do right now - I am doing everything I can think of to do this right. Just tell me - where would you like to go from here?"
In his most recent public comment on the Nestler Loan situation Ristow stated, "When I came to you it was for a loan - the loan was for myself NOT for NDX - However it was decided that this would be a deal between NDX and NIC because you wanted a press release stating that we were working together. The collateral - was personally owned by Jodi and myself and is stated in the loan agreement - it was not NDX's collateral - so it doesnt have any less tangible assets. As I stated in the post we were consistently losing money - so instead of paying tier and going deeper into debt each month we finally decided to sell. Once we had come to that position we sold the sims paid transfers and tiers & the other couple of hundred dollars went to paying bills here in rl that had been let go in order to pay the tier prior to the sale. Is there any way that I could just hand the sims over without losing an additional 225 - 250K L$ ? It isnt simply a fact of turning them over for whatever we could have taken off the loan - there was still tier and transfers so it simply was not something we could do. What else would you like me to say or do? I am doing everything that I can at this point. One thing is certain - regardless of how this plays out in public - you will be paid."
Two things are certain going forward--Ristow has a lot of work ahead of him, both in achieving his ambitious goals with DWIF(ACE), and repairing a public image that has, whether fairly or unfairly, recently taken major hits. DWIF(ACE) has a very innovative business plan that is based entirely on the Entropia Universe, the direct cause of the NDX(SLCAPEX) migration to ACE, as SLCAPEX officials was unwilling to allow the business to continue to exist in their exchange considering it's revenue is entirely derived from an alternate Virtual World. A Secondary Offering which was privately sold to two of NDX(SLCAPEX)'s major shareholders also was a point of contention--and confusion for this reporter--when the news of the migration took place. The Second Life Stock Markets have many examples of CEO's and Board Members serving in capacities in multiple companies, and Ristow's overextension with 3 companies--while trying to derive a profit from Entropia Universe--could be considered the worst case scenario for how those situations can develop given an economic breakdown or the wrong conditions developing. TOP NEWS
|
