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VTSEX Update 26th April - 11th May 2008 www.vstex.net By SL Hak Crystal Springs Land & Loan (CSL), CEO Skip Oceanlane appears delighted that the LL Land Store has reopened, this means that CSL is now back in business and has reportedly attracted 3 new customers purchasing a sim. Skip Oceanlane reports that the Land Store is better than ever with the sim being delivered in a matter of minutes rather than weeks as was the previous norm. CSL are in essence offering loans to clients wishing to purchase sims, a 10% deposit is all that is required and the loan can be financed over 4 – 30 weeks. There are various interest rates available. These sims are more affordable than ever with the recent price re structuring by LL, a full sim is priced at US$1,000 which features 15,000 prims and a Openspace sim at US$250, with 3,750 prims. CSL reported a profit in April of L$783k and issued a dividend payment of L$0.01.
Skip Oceanlane has also been busy with Crystal Springs Virtual Capital (CSV) after a partially successful IPO. CSV has entered the trading floor after raising L$2 million, short of the proposed L$3 million but sufficient for Skip Oceanlane's requirements. The raised funds repaid the CEO as almost L$2 million had previously been loaned as detailed in the CSV prospectus. CSV is currently a major shareholder in the ISE listed company BCX Acquisitions and Mergers (BAM) and the owner of the St Croix Bay and St Lucia Bay sims. CSV issued a dividend payment of L$0.01 for April and reported a profit of L$84k, however an operating loss was eventually posted due to a write down in assets due to LL new price structure. Skip Oceanlane has announced that he is considering loaning CSV funds in order to purchase two additional sims, it appears that this may be contrary to the CSV prospectus where Skip Oceanlane stated that the funds raised would be used for “... investing capital in virtual companies within Second Life and the Meta-Universe, as well as a limited amount of land ventures.” and that CSV would acquire only one or two sims in order to generate a steady stream of income. It appears that CSV is focusing on becoming an estate owner as opposed to a venture capital company. Bart Heart Entertainment (DVD), it's so refreshing to see new ideas and innovation being introduced into the SL financial markets. DVD is currently in IPO and this may or may not succeed, but I can only praise DVD for their innovation and desire to try something different. DVD is aiming to be the Blockbuster of Second Life, they will offer movies on demand for a fee, which they claim is in full compliance with all legislation. DVD are providing their customers with an opportunity to view in world or alternatively to watch the full version on their computer screen. DVD trialled a free peak of this service by showing American Gangster and Bee Movie, they claim already to have access to over 600 films and will use some of the IPO funds and operating profit to purchase new releases. Only time will tell if there is a demand for this service but I wish Bart Heart success. There are currently 9,300 shares remaining at L$300 per share. Read more about DVD's proposal HERE or the Q&A session on Capex forums HERE . Valentine Heart Inc. (VHI) reported revenue for April at L$301k and profit at L$125k, expenses at VHI remain controlled with the only reported expense being tier payments to LL. This permits VHI to issue regular dividend payments, this months reported at L$0.25 Dawes Financial Corp. (DFC), has re surfaced after being de-listed, CEO Mike31 Dawes providing the necessary paperwork late but acceptable for VSTEX and to the relief of their shareholders. DFC reported a Q1 loss of L$225k and their business model is currently concentrating on Central Grid development. Returns may be looking more promising for Q2 with DFC announcing that they will provide Kings Estates with 10 Central Grid regions. GS Residential Properties (GRP), has finally IPO'd and entered active trading. It has announced a dividend payment of L$0.0036 but with only 112k shares being sold in IPO they have much work to do to make a GRP a force within SL. Please IM or e-mail Hak at
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if you have any news or gossip about VSTEX listed companies.
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