Wednesday, October 31, 2007

Possible LLRS Secondary for Expansion

Today, we complete the purchase of Dark City: Obsidian City and Hostel bringing us to 6 sims total. Our growth has been slow but attainable. With the annoucement of the liquidation of KJL, I would like to take advantage of the price of the sims and purchase an additional 3-5 sims.

I have gotten the Registration API approval as of yesterday so building the Orientation Island is very close but we just need the island at this point. Another sim would be used as DCS battle arena similar to that seen on CSI:NY. The other 1-3 sims would be added to the Port continent as Port Seleste, Port Winter, and Port (something).

I propose that each sim would cost around $400k and 3 or 5 would suffice either way. I propose a secondary at $1.50 a share to cover the cost of the expansion which will speed up the RPG project from 3 months to possibly 1-2.

We have recently filled 2 of the 4 regular sims to capacity and the other 2 sims are over 50% capacity so we are looking to expand. Funds from the previous secondary were used to purchase and market the two RPG sims.

So now to the actual question....

Should LLRS do a secondary to expand and purchase assets from KJL?

Yes = Yes, do the secondary but the amount gained will determine the amount of sims purchased.
No = No