By Xavier Mohr, CEO
SLReports.net

An Editorial

I try not to editorialize the financial news side of Second Life in regard to specific companies or exchanges This time is different. If you like, please consider this opinion... but everything in it is sheer fact.

On September 26, 2007, Robo Marx commented at the SL Capital Exchange, at Your2ndPlace.com, and here at SLReports.net, saying in no uncertain language: "Investors do yourself a favor and sell all the stock and get your money out of these exchanges."

Imagine my surprise when I went to the Ancapistan Capital Exchange homepage this morning and found the following announcement from IntLibber Brautigan:

Today, 00:05 system announcement
by IntLibber Brautigan

BDVR - Blue Diamond Virtual REIT Approved For IPO

ROBO Marx's BDVR venture has been given approval for its IPO plans. Out of a total issue of 1 million shares, 400,000 will be offered for sale to the public at 1 L$ each. Funds raised will go to expanding BDVR's existing mainland land portfolio from 8000 square meters to 32,000 square meters, with additional funds held in reserve in interest bearing instruments for expenses such as tier, etc. BDVR has been in operation for some time and ROBO Marx is a recognised and established businessman in the SL community. His RL identity and contact information have been provided. This IPO is deemed to be relatively low risk, so only 5% of IPO funds will be held in escrow following completion of IPO, for three months.

IPO Sales will commence at 12:00 Noon, SLT, Friday, November 16th.

I of course imagine back in September when Marx's IPO had been declined by the SL Capital Exchange it was easy to tell everyone to dump their affiliations with the exchanges. He also attempted to launch an IPO at VSTEX.net - obviously that didn't happen.

In response to a post by Sarah Nerd regarding his IPO attempt at VSTEX.net,  Robo Marx commented on his intentions and the IPO in general.

"I'm not to worried about $L450k," said Marx. "Thats about all I would get from the IPO. I can assure you in RL this is not a great deal to me. I am looking to promote www.slbayauctions.com , not to steal what amounts to $1700 USD. That wouldnt even cover a quarters worth of taxes on my house. (they can leave it in escrow for all I care)"

Now, with a new exchange on the block it appears that Marx is trying again.

Robo, I have nothing against the 16 m2 plots like some other people do. It's the mainland, it's your land, it's your business. I guess my main question is - in regard to our money in these exchanges - do we take it out or put it in? Make up your mind.

This is not an attack against AnCapEx, or even BDVR for that matter. AnCapEx has proved themselves a valid competitor in the stock exchange race already - even in such a short time from being open. IntLibber and ACE are great to work with, and I sincerely appreciate that. I also understand it is not the exchange's job to judge the specific validity or potential profitability of a business. BDVR could potentially be a profitable business... although until we see a prospectus we can't be sure. That's not the issue, though.

This is simply a question of what has changed so immeasurably in Mr. Marx's mind... in such little time.

Comments

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SLReports.net User   | 2007-11-16 09:05:54 Robo Marx is an idiot. Quote 0   0

SLReports.net User   | 2007-11-16 09:38:30 in his own words LOLLOLLOLLOLLOLLOLLO LLOLLOLLOLLOLLOLLOLL OLLOLLOLLOLLOLLOLLOL Quote 0   0

SLReports.net User   | 2007-11-16 09:53:10 if 1700 USD is such chump change to him he should just cancel the IPO and put the money in privately - of course anyone can claim to be rich on the internet right? thats what i dont get with these people - they all say that it is such a small meaningless amount yet they have to IPO to get it. this loudmouth deserves the only exchange that would take him - bnt Quote 0   0

IntLibber Brautigan - Its about fairness...     | 2007-11-16 10:14:05 Hi Xav, I'm not too phased that SLCapex declined BDVR. Remember we demonstrated Arb and Lindsay turned down our Stone Brewery IPO without even reading the prospectus. We demonstranted that exchange has become the sort of old boys club that Maelstrom and the boys sought to overthrow when they helped found AVIX. Thats fine, its Arb's exchange, he can run it as he sees fit and let the market decide. As for VsTex, I dont know why they turned it down, possibly its a non-objective judgement of ROBO's marketing techniques. We evaluate every application objectively on its merits. We have turned down a number of applications already, as the rest of the IPO Committee can attest. We have found BDVR's prospectus to be well done, and ROBO, while controversial, is an established, and stable businessman in the SL community. The same can be said of some other CEOs around here. Quote 0   0

Xavier Mohr - Understood   | 2007-11-16 10:36:31 Thanks for the clarification IntLibber. Of course the issue is not with ACE's approval of BDVR. I guess my issue is not with Robo specifically but the growing trend of people publicly saying one thing and then directly contradicting themselves. Although this is the most blatant I have seen of late. No explanation for the obvious contradiction is what kills me. This happens over and over again with different people and I do NOT understand it - people lose credibility by doing this. Investors don't forget things as easy as CEOs would like them to. A lot of us form opinions and later change them to the exact opposite. I've done it more than once. I just think MOST of us have enough dignity to explain WHY. Quote 0   0

Samantha Goldflake - Brautigan, don't talk about th     | 2007-11-16 10:58:11 Everybody should know by now that we run community votes to accept or refuse IPOs. Robo Marx came to us to have an IPO for SLBay Auctions. His application was examinated and approved. Then the community voted, as per our rules. It was a close call, yet the IPO was rejected and whatever the reason behind the votes, we had to respect the will of our Community. Get down from your high horse, once every while. Apologies to the SLReport readers for the harsh tone of this comment, but as we say here "Quanno ce vo' ce vo'!". Objectiveness... Fairness... /me shakes her head Samantha Goldflake VSTEX Communication and Public Relations Director http://www.vstex.net Quote 0   0

Samantha Goldflake - I made a mess     | 2007-11-16 11:18:22 Just got back from the dentist and my memory failed me when I read Brautigan post. Robo Marx was blocked because of this: http://www.vstex.net/?p=103&id=27 Apologies to the readers, anyway the comment on the high horse stands Samantha Goldflake VSTEX Communication and Public Relation Director http://www.vstex.net Quote 0   0

SLReports.net User - hypocricy   | 2007-11-16 12:24:11 I think this is an unprecedented period of time in sl, with opportunities for small and large entrepreneurial sl residents, to raise monies from one or more of these exchanges; because of the proliferation of so many sl stock exchanges. We all think and say hypocritical, contradictory things sometimes; but need forgiveness from others when we do. I wonder about the future of all these exchanges??? Possible mergers?? Or, I thought that people might not be so quick to give up these exchanges? Quote 0   0

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