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Travis Ristow to Close NDX Secondary www.slcapex.com By SL Hak With the Innovative Index Fund (NDX) secondary still struggling on Capex, CEO Travis Ristow has announced that the offer will be closing on the 3rd of June. With in excess of 900k shares still available at L$4.99 it is anticipated that most will remain on the shelf. Travis Ristow however claims that he has a single private investor lined up to purchase the remaining unsold shares. The question is who is this investor, who will no doubt be picking up the shares at a heavily discounted price..
How about Scott Nestler, the CEO of Nestler Investments Corp (NIC) whose own IPO is about to conclude on Capex. Scott has previously shown the financial muscle when purchasing a significant shareholding within MNM an has shown ambition with his recent acquisition of the Sky Power Fund (POW). There's also been the recent back scratching between Scott and Travis. Only time will tell if I have this completely wrong. NDX is attempting to raise L$5 million on Capex so that they can diversify into other virtual worlds, with NDX proposing expansion into Entropia. Travis Ristow justified his decision to terminate the secondary as he believes that “ It is my belief that the secondlife financial market is simply to soft at this time to realize success strictly from SL residents. The Market in Entropia however is extremely strong.”
Travis then continued in the Capex forums stating “It is my personal belief that there are very few ( if any) Truly viable business plans within SL at this time. With Rapidly changing "policy" from LL that greatly affects the entire economy of SL and NO regard to business that is running here it seems quite insane for me to continue investing here.
I am positive that LL has a "master plan" and that SL as we knew/know it was simply an incubator to help it grow. I also have little doubt that this will be a success. However it will NOT in my opinion be conducive to ANY business strategy that I wish to deploy. I am NOT an Educator, Don't Have a RL corp to advertise & no RL employee meetings or product development to hold in SL.
However Looking at other worlds that have been around for about the same time frame ( ie Entropia Universe) I see GREAT possibility. The fact that they openly acknowledge that they have a REAL cash economy and a fixed exchange rate are among the top indicators that they know what they are doing and will protect it as it stands.” This sounds like one disillusioned CEO, the SL financial markets have suffered and continue to face a credibility crunch due to continued and often unabated abuse. This is not the only reason but it's a major factor. No RL company can condone and sit idly by as its customers are illegally relieved of their L$. There is little surprise that this secondary is likely to fall short, this was a very ambitious secondary for what was essentially a very small fund. It is a shame but CEO's are required to work twice as hard for twice as long in order to gain investors trust due to the malfeasance of some and the total incompetence of others.
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