In the wake of the banking ban, the recent change in the SL economy, and the disappearance of one of our CEOs, it is not feasible to run L&L Financial Services and L&L Credit Reporting Agency and Business Services independently. The L&L Brand has been around in SL for close to two years with the real life side of the business coming to 1 year come June. The biggest issue that has risen from the operation of the brand is the need to employees within to return to real life as well as the owners from time to time. When this happens, this brings the business into a lull and sometimes to a halt.
To alleviate this trend as much as possible as we progress into the slower time of SL which is the summer months, we are combining forces of all L&L companies under one name in SL. L&L Corporation will be the company name as we have been running under the moniker for a while anyway. L&L Rentals and Sales, L&L Financial Services, and L&L Credit Reporting Agency and Business Services will operate under this name as divisions and not separate companies.
There are a few concerns here that will be addressed to make sure that investors and customers realize that we know what we are doing. As three separate entities, this divided our focus tremendously as each had separate goals. Combining forces will allow us to work to one goal with several revenue streams to enhance the bottom line. LLRS still sees a steady income on the land business as we are filling our personal holdings and finding more contracts to manage. LLFS sees a good bit of traffic on the brokerage and the currency exchange to be viable if focused on. LLCA has the potential to provide tremendous business services in line with the LLRS divisions but has sat dormant due to unforeseen issues. We are confident that the combination of things under one house will prove to bring the brand full circle.
We do realize that this is probably not going to be the best immediate decision for the stock holders of the three companies as there will be an immediate devalue in stock. However, the stock will have a long term value as we start to pay dividends from the collection of divisions income. Currently, LLL trades at about $1.50 a share with LCA and LNL at just below $.50. All stock will be converted to the new company ticker, LLC, to be listed on SL CapEx, based on the LLL share price. In addition, L&L Liquidation Fund will be rolled into this with the same conversion. All outstanding linden debt from LLFS will be converted as well. A portion of LCA debt will be included. In order to rise from this and be able to offer a sound trading platform for the brand, there will be no promise of buybacks or dividends. There will be a dividend schedule posted so that shareholders are aware of the stipulations for a dividend to be paid.
All assets of both LCA, LNL, and LLL will be combined with all holding alts still in operation for their division to insure that each division is profitable by its own actions. The LNL Brokerage will resume operations on June 1st, LCA will resume operation by June 15th, and LNL will continue business as usual. Inception of Utherverse is still pending contractual obligation by the company. SLCC participation is still pending at this time.
In the coming days a solid conversion schedule will be available. LNL and LCA will delist no later than May 30th. We expect to have LLC listed and trading no later than June 15th. Thank you for your patience while we make this transition.
Sincerely,
Lindsay Druart, Chairman/COO/CFO
L&L Corporation
Luke Birdbrain, CEO/Executive Director
Gabrielle Miles, CCO
Wednesday, May 21, 2008
Monday, January 14, 2008
Response to Luke Connell's Group Notice
The following was posted to the WSE Listings Group:
"Dear CEO's,
It has been brought to our attention by fellow CEO's that there is an SL resident representing a new start up stock market by Lindsey Druart attempting to convince CEO's to move from the WSE to her new exchange.
This has been the common tactic used by other in the past to no avail. They try to approach CEO's with offers of discounts if they move, false and misleading statements about WSE to scare CEOs along with many unrealistic promises. Please IM me if you are contacted.
Regards, Luke"
Yes, there was a representative of my company asking other CEO's of WSE questions about their experiences in an attempt to assist as much as possible. L&L Financial Services is NOT a start up exchange as Luke Connell has suggested and does not seek to be one. We are a brokerage service that offers trading of companies on approved exchanges and simply we attempted to allow companies to be able to trade during the closure of WSE.
I, nor my representatives have made any false or misleading statements about WSE nor has anything unrealistic been promised. Nothing has been promised for that matter. For that matter, Luke and I had talked at length about allowing the trade of WSE shares during its closure so this was not a new concept to him. Luke cannot deny the information in my blog so he seeks to get people on his side to defame me. Common tactic of Luke Connell. And my name is spelled Lindsay Druart. Thanks!
"Dear CEO's,
It has been brought to our attention by fellow CEO's that there is an SL resident representing a new start up stock market by Lindsey Druart attempting to convince CEO's to move from the WSE to her new exchange.
This has been the common tactic used by other in the past to no avail. They try to approach CEO's with offers of discounts if they move, false and misleading statements about WSE to scare CEOs along with many unrealistic promises. Please IM me if you are contacted.
Regards, Luke"
Yes, there was a representative of my company asking other CEO's of WSE questions about their experiences in an attempt to assist as much as possible. L&L Financial Services is NOT a start up exchange as Luke Connell has suggested and does not seek to be one. We are a brokerage service that offers trading of companies on approved exchanges and simply we attempted to allow companies to be able to trade during the closure of WSE.
I, nor my representatives have made any false or misleading statements about WSE nor has anything unrealistic been promised. Nothing has been promised for that matter. For that matter, Luke and I had talked at length about allowing the trade of WSE shares during its closure so this was not a new concept to him. Luke cannot deny the information in my blog so he seeks to get people on his side to defame me. Common tactic of Luke Connell. And my name is spelled Lindsay Druart. Thanks!
Sunday, January 13, 2008
Why L&L Corporation Has Severed Ties with WSE
On December 20, 2007, I was alerted by Luke Connell Vandeverre over a conversation in Skype that 3 Midas depositors had hired Stevan Lieberman of Greenberg and Lieberman, LLC claiming damages from the World Stock Exchange in response to its default on bond payments causing the supposed bankrupt. While I thought the lawsuit a bit frivolous in a business sense as it would cost more to facilitate than the actual benefit, I advised Luke to do what he felt best but to do a bit of research on the claims that the lawyer was making. Luke replied to the lawyer with a statement that he was not liable, as expected, and copied several Linden Lab officials. This was an expected reaction and perfectly fine by my view at the time.
In the notice as well as conversations with Luke, it was clear that the banking industry of SL was not his favorite sector nor was JT Financial and SL Capital Exchange as this was the topic of discussion on many occasions. In addition, there were several attempts to purchase L&L Bank and Trust, one initiated by myself during the time in which that was an option and several subsequent inquiries made to me as well as Luke Birdbrain. I found it odd but continued to conduct a bit of logical explanation for possible reasoning. Considering WSE closed VERY shortly before the banking ban without any prior notice, I was puzzled as Luke had shared information about WSE happenings before but this time was different. Once the banking ban initiated, Luke Connell was quite elated to the fall of the SL banking industry which I found very odd. At that point, it all made sense. Luke Connell was tipped off. I speculate that Linden Labs received a subpoena for account information in relation to the Midas depositor’s case. Per Luke Connell, the lawyer planned to pursue the case whether there was a loosing chance or not to get the public eye on virtual business and create his name in the press for it.
Even though I felt he was lying to me about his knowledge of the ban, I decided to lay low and prepare to be in the right place at the right time. In a conversation with Luke Connell about WSE 4.0, he stated that directors and the new CEO would be voted on by the members of the exchange. I made a bit of a hint to me being nominated for a board position and he stated that he wanted to make sure the lawsuit did not affect WSE before reopening. In my mind, this meant that WSE may not reopen if the lawsuit gets ugly. Also, I received information that Luke was offering to buy banks in SL since the ban. Not to mention, WSE was giving away money for the holidays but had defaulted on bond payments. To my knowledge, no person can defer a payment on a loan without approval from the lien holder so WSE did not defer payments. WSE defaulted.
On January 11, 2008, Sarah Nerd asked a question in WSE Listing Chat and my window popped up. Normally, I would close the window because I usually don’t get involved in group chat but to no avail, I kept the window open and read as I was working on other things. A few things made my mouth drop.
[2008/01/11 18:51] LukeConnell Vandeverre: Latest news? he is getting ready to audit all user balances
[2008/01/11 18:51] LukeConnell Vandeverre: we know there are users with lindens or shares they shouldn't have and users with less than they should have so this is the first thing to be fixed
My question was….Who determines what users should and should not have? What accounts are being audited? Who is policing the police, so to speak? Since all directors were asked to resign, who else is privy to this information besides Luke Connell? I was appalled nonetheless because the only person with access to this information is him and it seems he is the sole decision maker on what accounts should have and what they shouldn’t. This is potentially fraudulent if I have ever seen fraud. I said nothing and continued to watch the conversation between Luke Connell and Rockwell Ginsberg.
[2008/01/11 19:17] Rockwell Ginsberg: OK, I apologize for the low blow regarding HCL. I know you are doing your best here. Do you worry about competition from other exchanges?
[2008/01/11 19:18] LukeConnell Vandeverre: not at all, does Mercedes ever worry about Hyundai
[2008/01/11 19:20] LukeConnell Vandeverre: what are the wse compeition? they are like playing with an Atari compared with an Xbox 360
[2008/01/11 19:22] Rockwell Ginsberg: They are open, you are not. Traders may leave and never come back. I am not familiar with these exchanges, but they may be able to attract some WSE business during the closure.
Rockwell made perfect sense while Luke was busy tooting his own horn without reason. The last and final straw of this conversation for me was this:
[2008/01/11 19:56] Rockwell Ginsberg: Listen Luke, I can say whatever the fuck I want to say, wherever the fuck I want to say it. And I am not trying to "serve my negative view." I have merely provided my opinion on these matters. You can do with this what you wish. But I've tried to provide constructive criticism here. If my honesty is difficult to take, I apologize.
[2008/01/11 19:57] LukeConnell Vandeverre: If you are making public statements that are negative towards the WSE and counter-productive towards the WSE's objectives then your business will be delisted
[2008/01/11 19:58] LukeConnell Vandeverre: You can share your concerns privately
[2008/01/11 19:58] LukeConnell Vandeverre: therefore having not negative impact on the WSE
[2008/01/11 19:58] Rockwell Ginsberg: Do you consider this forum to be a public one?
[2008/01/11 19:59] Rockwell Ginsberg: I do not.
[2008/01/11 19:59] LukeConnell Vandeverre: I consider the extent of your opposition towards WSE in this group to be of concern and a display of your anti WSE opinions which i'm sure you've been sharing in public forums according to others from what i'm told
For one, people have opinions and will not always agree. But for a man running a company to state that he will delist any company that does not agree is tyrannical and almost neo-nazi and this is not the place for L&L Rentals and Sales. Last time I checked, free enterprise and free speech reigned in SL and RL for the most part. Neither myself, nor my companies will have anything to do with such behavior. I have had my times with people but, I have never removed or left a business relationship over personal differences.
L&L Corporation and its subsidiaries have tremendous stake in the truth and in customer service. These are two things that are not available at the World Stock Exchange at the current moment. At one time, I saw the vision but now I see the lies. It is my speculation that Luke seeks to buy the closing banks below value to gain depositor lists in order to issue WTF shares to depositors rather than their money. In doing so, he would control a monopoly of the financial sector for pennies as he would issue a worthless stock for the hard earned money of SL residents and make a commission on their sales to try to get out. Double payday. This is why Midas refused to give up the depositor list. While Midas may have been overspent, WSE defaulted on its promise to the market and in turn bankrupted a company on it own issuance and not the company itself.
I must commend the stock exchanges that have a bit more respect for its investors than this. I have had my differences with Arbitrage and he and I know there are some things we don’t agree on but I have known him to be fair. We have decided to facilitate trading for L&L Rentals and Sales in house to not put any undo strain on the exchanges that are working through liquidity issues with regards to the banking ban. We will assist our own depositors and shareholders the best we can with our facilities at L&L Financial Services. Thank you all for your support of L&L Corporation and its companies and we wish all the honest businesses of SL the best of luck in the days ahead.
Sincerely,
Lindsay Druart, CEO
L&L Corporation
In the notice as well as conversations with Luke, it was clear that the banking industry of SL was not his favorite sector nor was JT Financial and SL Capital Exchange as this was the topic of discussion on many occasions. In addition, there were several attempts to purchase L&L Bank and Trust, one initiated by myself during the time in which that was an option and several subsequent inquiries made to me as well as Luke Birdbrain. I found it odd but continued to conduct a bit of logical explanation for possible reasoning. Considering WSE closed VERY shortly before the banking ban without any prior notice, I was puzzled as Luke had shared information about WSE happenings before but this time was different. Once the banking ban initiated, Luke Connell was quite elated to the fall of the SL banking industry which I found very odd. At that point, it all made sense. Luke Connell was tipped off. I speculate that Linden Labs received a subpoena for account information in relation to the Midas depositor’s case. Per Luke Connell, the lawyer planned to pursue the case whether there was a loosing chance or not to get the public eye on virtual business and create his name in the press for it.
Even though I felt he was lying to me about his knowledge of the ban, I decided to lay low and prepare to be in the right place at the right time. In a conversation with Luke Connell about WSE 4.0, he stated that directors and the new CEO would be voted on by the members of the exchange. I made a bit of a hint to me being nominated for a board position and he stated that he wanted to make sure the lawsuit did not affect WSE before reopening. In my mind, this meant that WSE may not reopen if the lawsuit gets ugly. Also, I received information that Luke was offering to buy banks in SL since the ban. Not to mention, WSE was giving away money for the holidays but had defaulted on bond payments. To my knowledge, no person can defer a payment on a loan without approval from the lien holder so WSE did not defer payments. WSE defaulted.
On January 11, 2008, Sarah Nerd asked a question in WSE Listing Chat and my window popped up. Normally, I would close the window because I usually don’t get involved in group chat but to no avail, I kept the window open and read as I was working on other things. A few things made my mouth drop.
[2008/01/11 18:51] LukeConnell Vandeverre: Latest news? he is getting ready to audit all user balances
[2008/01/11 18:51] LukeConnell Vandeverre: we know there are users with lindens or shares they shouldn't have and users with less than they should have so this is the first thing to be fixed
My question was….Who determines what users should and should not have? What accounts are being audited? Who is policing the police, so to speak? Since all directors were asked to resign, who else is privy to this information besides Luke Connell? I was appalled nonetheless because the only person with access to this information is him and it seems he is the sole decision maker on what accounts should have and what they shouldn’t. This is potentially fraudulent if I have ever seen fraud. I said nothing and continued to watch the conversation between Luke Connell and Rockwell Ginsberg.
[2008/01/11 19:17] Rockwell Ginsberg: OK, I apologize for the low blow regarding HCL. I know you are doing your best here. Do you worry about competition from other exchanges?
[2008/01/11 19:18] LukeConnell Vandeverre: not at all, does Mercedes ever worry about Hyundai
[2008/01/11 19:20] LukeConnell Vandeverre: what are the wse compeition? they are like playing with an Atari compared with an Xbox 360
[2008/01/11 19:22] Rockwell Ginsberg: They are open, you are not. Traders may leave and never come back. I am not familiar with these exchanges, but they may be able to attract some WSE business during the closure.
Rockwell made perfect sense while Luke was busy tooting his own horn without reason. The last and final straw of this conversation for me was this:
[2008/01/11 19:56] Rockwell Ginsberg: Listen Luke, I can say whatever the fuck I want to say, wherever the fuck I want to say it. And I am not trying to "serve my negative view." I have merely provided my opinion on these matters. You can do with this what you wish. But I've tried to provide constructive criticism here. If my honesty is difficult to take, I apologize.
[2008/01/11 19:57] LukeConnell Vandeverre: If you are making public statements that are negative towards the WSE and counter-productive towards the WSE's objectives then your business will be delisted
[2008/01/11 19:58] LukeConnell Vandeverre: You can share your concerns privately
[2008/01/11 19:58] LukeConnell Vandeverre: therefore having not negative impact on the WSE
[2008/01/11 19:58] Rockwell Ginsberg: Do you consider this forum to be a public one?
[2008/01/11 19:59] Rockwell Ginsberg: I do not.
[2008/01/11 19:59] LukeConnell Vandeverre: I consider the extent of your opposition towards WSE in this group to be of concern and a display of your anti WSE opinions which i'm sure you've been sharing in public forums according to others from what i'm told
For one, people have opinions and will not always agree. But for a man running a company to state that he will delist any company that does not agree is tyrannical and almost neo-nazi and this is not the place for L&L Rentals and Sales. Last time I checked, free enterprise and free speech reigned in SL and RL for the most part. Neither myself, nor my companies will have anything to do with such behavior. I have had my times with people but, I have never removed or left a business relationship over personal differences.
L&L Corporation and its subsidiaries have tremendous stake in the truth and in customer service. These are two things that are not available at the World Stock Exchange at the current moment. At one time, I saw the vision but now I see the lies. It is my speculation that Luke seeks to buy the closing banks below value to gain depositor lists in order to issue WTF shares to depositors rather than their money. In doing so, he would control a monopoly of the financial sector for pennies as he would issue a worthless stock for the hard earned money of SL residents and make a commission on their sales to try to get out. Double payday. This is why Midas refused to give up the depositor list. While Midas may have been overspent, WSE defaulted on its promise to the market and in turn bankrupted a company on it own issuance and not the company itself.
I must commend the stock exchanges that have a bit more respect for its investors than this. I have had my differences with Arbitrage and he and I know there are some things we don’t agree on but I have known him to be fair. We have decided to facilitate trading for L&L Rentals and Sales in house to not put any undo strain on the exchanges that are working through liquidity issues with regards to the banking ban. We will assist our own depositors and shareholders the best we can with our facilities at L&L Financial Services. Thank you all for your support of L&L Corporation and its companies and we wish all the honest businesses of SL the best of luck in the days ahead.
Sincerely,
Lindsay Druart, CEO
L&L Corporation
Shareholder List Posted
Now that L&L Rentals and Sales will be trading on L&L Financial Services, all shares located on WSE are deemed worthless and will not be honored if WSE goes back into live trading. The current shareholder list will be uploaded to LLFS so please check your portfolio for any error due to the WSE audit. What I have on file will be honored as is. I will post the shareholder list on my blog momentarily. Feel free to contact me via email at lindsay.druart@gmail.com and I will respond as soon as possible. Thank you for your support.
Sincerely,
Lindsay Druart
L&L Rentals and Sales
Shareholders
Name
Shares Owned
Percentage Owned
Lnl Bing
565,000
20.09%
Svar Beckersted
425,300
15.12%
Luke Birdbrain
245,010
8.71%
Lindsay Druart
245,000
8.71%
Eric Yerd
206,060
7.33%
Eliale Morigi
200,000
7.11%
Vitall Beck
163,709
5.82%
Paci Barbarossa
99,208
3.53%
Zanzi Merlin
81,556
2.90%
Topher Whitman
80,462
2.86%
Richy Brynner
62,000
2.20%
Selestemxx Maxsted
55,429
1.97%
Awrestonez Vella
40,137
1.43%
Jeff Emu
38,492
1.37%
Kayser Shu
38,278
1.36%
Lobisones Congrejo
37,547
1.33%
Devilin Eusebio
25,000
0.89%
Jimmy Bligh
25,000
0.89%
Tomac Sewell
25,000
0.89%
Richard Palace
19,657
0.70%
Coben Bailey
13,000
0.46%
Casper Trebuchet
11,285
0.40%
Armand Saintlouis
10,000
0.36%
Jacqueline Richelieu
9,500
0.34%
Jimm Bunin
8,612
0.31%
Allanlau Forager
7,056
0.25%
Servme Nakamura
5,500
0.20%
Jeb Gibb
5,210
0.19%
Jonathan Seale
5,000
0.18%
Goose Pennell
4,638
0.16%
Astral Amat
4,000
0.14%
Itchy Gamba
3,200
0.11%
Walker Wise
2,989
0.11%
Ragged Delec
2,521
0.09%
Korto Laszlo
2,498
0.09%
Kubi Beam
2,250
0.08%
Bims Writer
2,133
0.08%
Ogion Rasmuson
2,000
0.07%
Dr37923 Trautman
1,977
0.07%
Aeneas Whitfield
1,819
0.06%
Seer Yifu
1,422
0.05%
Sen Korobase
1,392
0.05%
Wiezijnwij Beaumont
1,204
0.04%
Zesty Zsigmond
1,002
0.04%
Logansan Oh
1,001
0.04%
Mateo Infinity
1,000
0.04%
Paxbill Liberty
1,000
0.04%
Secondopinion Kit
1,000
0.04%
Timothy Crabe
951
0.03%
Cristopher Whitfield
900
0.03%
Annsophie Maertens
816
0.03%
Dimm Flow
800
0.03%
Dillian Novi
749
0.03%
Galantir Boucher
745
0.03%
Arch Hawks
600
0.02%
Geeta Lagerlof
585
0.02%
Pantaiputih Korobase
550
0.02%
Luke Connell
506
0.02%
Krazy Priestman
501
0.02%
Wse Traders fund
501
0.02%
Dominic Webb
500
0.02%
Archibalde Beaumont
500
0.02%
Rudy Bosch
500
0.02%
Qwaity Falta
500
0.02%
Abigail Merlin
500
0.02%
Kundalini Seale
500
0.02%
Nikki Ashby
500
0.02%
Bubba Herzog
400
0.01%
Maelstrom Baphomet
400
0.01%
Blake Matthews
381
0.01%
Myron Cerveau
375
0.01%
Barbs Kurka
350
0.01%
Jadge Jacobus
350
0.01%
Legal Action
319
0.01%
Damion Goodman
300
0.01%
Tom Prospero
300
0.01%
Rogger Schnyder
300
0.01%
Miles Noriega
294
0.01%
Frohicke Garmes
251
0.01%
Rhas Raymaker
250
0.01%
Ollieollie Ochs
250
0.01%
Seanito Sungsoo
250
0.01%
Bianca Kendall
250
0.01%
Marcellino Maddaloni
202
0.01%
Dondy Carling
200
0.01%
Sharp Beerbaum
200
0.01%
James Petrichor
200
0.01%
Elmer Ames
200
0.01%
Insolubile Cioc
174
0.01%
Premierpete Beattie
165
0.01%
Ibiza Benelli
164
0.01%
Jtom34 Bobak
150
0.01%
Anastasia Gazov
131
0.00%
Augustine Innis
130
0.00%
Dice Babii
100
0.00%
Elana Ling
100
0.00%
Leon Cundey
100
0.00%
Ljgordon Biedermann
100
0.00%
Daisy Mertel
100
0.00%
Enz Jinn
100
0.00%
Eli Dailey
100
0.00%
Deadlight Ra
100
0.00%
Tonine Galthie
100
0.00%
Wielnt Darrow
100
0.00%
Real Merlin
91
0.00%
Aldous Hynes
64
0.00%
Queerhunt Aeon
63
0.00%
Folie Ferraris
62
0.00%
Hiddenairport Mathy
60
0.00%
Wayn Dagostino
60
0.00%
Bryan Babii
53
0.00%
Bandu Schwartzman
50
0.00%
Roburt Musketeer
50
0.00%
Giovani Flatley
50
0.00%
Madog Garsztka
50
0.00%
Ilum Amat
50
0.00%
Zanter Dagger
50
0.00%
Lyssa Vanvleck
50
0.00%
Liquid Diamond
44
0.00%
Elxai Priestman
40
0.00%
Blanco Noel
39
0.00%
Kdmutual Planer
38
0.00%
Sarria Yaffle
28
0.00%
Ogema Biedermann
27
0.00%
Hector Roffo
23
0.00%
Sirmarkus Kidd
20
0.00%
Ilyushin Tzedek
20
0.00%
Xyele Carnot
20
0.00%
Gide Allen
16
0.00%
Whoo Hax
15
0.00%
Sompto Ikura
15
0.00%
Sheila6225 Allen
15
0.00%
Barton Giovinazzo
12
0.00%
Splinkrot Oh
10
0.00%
Next Merlin
10
0.00%
Zack Ezvalt
10
0.00%
Tweetey Swenson
10
0.00%
Xenia Easterman
10
0.00%
Splinkrot Writer
10
0.00%
Antonsam Independent
8
0.00%
Dtip Collishaw
8
0.00%
Cleo Wombat
8
0.00%
Tj Whittaker
8
0.00%
Melikim Losangeles
6
0.00%
Nodatilu Juran
5
0.00%
Gukk Streeter
5
0.00%
Toshi Chapman
5
0.00%
Chinchi Etzel
4
0.00%
Jozeppi Pessoa
4
0.00%
Tonya Aeghin
3
0.00%
Rod Sicling
3
0.00%
Mika Koltai
2
0.00%
Boone Mcmahon
2
0.00%
Finn Delgado
2
0.00%
Machtig Ballinger
2
0.00%
Clive Forcella
1
0.00%
Koudoawaia Menatep
1
0.00%
Boo Rojyo
1
0.00%
Claudiolui Morigi
1
0.00%
Allen Janus
1
0.00%
Murex Mureaux
1
0.00%
Bapeki Oh
1
0.00%
Kostas Dagger
1
0.00%
Overquake Blackburn
1
0.00%
L&L Rentals and Sales Leaves WSE
It is with a heavy heart that we have made the decision to leave the stock exchange that assisted in the launch of L&L Rentals and Sales. There are many factors that were researched and confirmed to push me to this conclusion. Please note, that Luke Connell nor any member of WSE has done anything to us personally, but the operation of WSE is not in line with the future of L&L Corporation or its SL subsidiaries.
LLRS shareholders are asked to go to the L&L Financial Services terminal located at the L&L Financial Services Main Branch at Port Druart to create an account if you do not have one and I will update your shares to your account within 24 hours. Public trading of LLL will begin on L&L Financial Services no later than January 15th.With this change, the CEO, SelesteMxx Maxsted, will be able to keep shareholders up to date faster than I could. I will be detailing my reason for this change as well as current updates to be posted on the L&L Financial Services website over the next few days.
We wish the companies here the best of luck and we hope that WSE comes back online as promised. Thank you for your continued support.Sincerely,Lindsay Druart, ChairmanL&L Rentals and SalesYou may find L&L Financial Services at http://www.myllbt.com
LLRS shareholders are asked to go to the L&L Financial Services terminal located at the L&L Financial Services Main Branch at Port Druart to create an account if you do not have one and I will update your shares to your account within 24 hours. Public trading of LLL will begin on L&L Financial Services no later than January 15th.With this change, the CEO, SelesteMxx Maxsted, will be able to keep shareholders up to date faster than I could. I will be detailing my reason for this change as well as current updates to be posted on the L&L Financial Services website over the next few days.
We wish the companies here the best of luck and we hope that WSE comes back online as promised. Thank you for your continued support.Sincerely,Lindsay Druart, ChairmanL&L Rentals and SalesYou may find L&L Financial Services at http://www.myllbt.com
Tuesday, December 4, 2007
LLBT and New Interest Rates
A few questions was asked about the change in interest rates so I thought I would post my reply to it here.
http://www.slcapex.com/forums/topic/LNL/1091
"The rates are correct and the website is being updated. At this point, the rates our competitors offer do not concern me much because most rates are not long term sustainable. True enough we are supposed to remain competitive but our goul is also to be able to service our customers and safeguard their deposits.
After weeks of plugging over manuals and books of RL banks as well as reading the histories of the recent fallen banks in SL, one thing remained true. The interest rates were inflated just to get a customer base but not thought was put into the long term sustainability of that rate. Therefore, we have taken a step back and basically said to hell with trying to keep up with the Joneses with the onslaught of failure almost imminent.
Currently, most banks offer 37-60% per annum yield compounding. Potentially, a bank with 40 million in holdings would pay out about $65K in interest daily. Some people have been in SL for years and not seen that kinda of money at one time but the bank is expected to pay that daily. It will work for a while but as the bank gets bigger, the reserves get smaller.
Also, RL investing was supposed to be a bit of a cure all but with the value of the linden dropping, this is not feasible either. It is my goal to reinvent the SL bank with L&L Bank and Trust and not continue down a road that will only end in failure. May not be now, may not be next year, but eventually, it will get hairy.
The rates proposed are still better than RL rates as the savings account is about 25-45% higher than most rates you can get at a RL bank so as long as an investor can maintain that same conversion, they would make more money.
How do I plan to keep depositors? I plan to keep them by being sound in my judgement of the banks offers and do what I can to safeguard their investment rather than trying to offer the best rate. One thing I have always said is that I may not be the best solution for everyone but I am the best solution for someone. And that someone is my focus.
The website is undergoing massive verbiage changes to fall in line with the new line of thinking. L&L Bank and Trust is a business and I will run it as such but being in business doesn't mean I need to be foolish about it. My stance is sustainability. And I do not see a viable way to sustain on those rates without loan sharking and gambling.
I am sorry if depositors leave because of it but as of yet, I have not seen an unmanageable run. I think the time of the unrealistic expectations is gone along with a lot of lindens and a lot of trust in the market. Competition is off my radar right now. I have a business to run."
I just felt the need to make this known.
http://www.slcapex.com/forums/topic/LNL/1091
"The rates are correct and the website is being updated. At this point, the rates our competitors offer do not concern me much because most rates are not long term sustainable. True enough we are supposed to remain competitive but our goul is also to be able to service our customers and safeguard their deposits.
After weeks of plugging over manuals and books of RL banks as well as reading the histories of the recent fallen banks in SL, one thing remained true. The interest rates were inflated just to get a customer base but not thought was put into the long term sustainability of that rate. Therefore, we have taken a step back and basically said to hell with trying to keep up with the Joneses with the onslaught of failure almost imminent.
Currently, most banks offer 37-60% per annum yield compounding. Potentially, a bank with 40 million in holdings would pay out about $65K in interest daily. Some people have been in SL for years and not seen that kinda of money at one time but the bank is expected to pay that daily. It will work for a while but as the bank gets bigger, the reserves get smaller.
Also, RL investing was supposed to be a bit of a cure all but with the value of the linden dropping, this is not feasible either. It is my goal to reinvent the SL bank with L&L Bank and Trust and not continue down a road that will only end in failure. May not be now, may not be next year, but eventually, it will get hairy.
The rates proposed are still better than RL rates as the savings account is about 25-45% higher than most rates you can get at a RL bank so as long as an investor can maintain that same conversion, they would make more money.
How do I plan to keep depositors? I plan to keep them by being sound in my judgement of the banks offers and do what I can to safeguard their investment rather than trying to offer the best rate. One thing I have always said is that I may not be the best solution for everyone but I am the best solution for someone. And that someone is my focus.
The website is undergoing massive verbiage changes to fall in line with the new line of thinking. L&L Bank and Trust is a business and I will run it as such but being in business doesn't mean I need to be foolish about it. My stance is sustainability. And I do not see a viable way to sustain on those rates without loan sharking and gambling.
I am sorry if depositors leave because of it but as of yet, I have not seen an unmanageable run. I think the time of the unrealistic expectations is gone along with a lot of lindens and a lot of trust in the market. Competition is off my radar right now. I have a business to run."
I just felt the need to make this known.
Friday, November 30, 2007
L&L Corporation Now Hiring
Currently, we are seeking to hire 4 receptionists for the L&L Corporation companies being:
L&L Bank and Trust, Port Druart
L&L Credit Reporting Agency, Port Druart
L&L Rentals and Sales, Port Druart
L&L Corporation, Port Chase
Compensation is L$1500/week with a Monday-Friday work week approximately 3-4 hours a day and company matched stock purchases up to L$1000 dollars in shares from EACH L&L publicly traded after 30 days of successful employment.
Please keep in mind that being AFK at the desk will result in immediate termination including and up to company matched shares revocation. The chairs at the desks contain timers that calculate time and can bypass anti-idle HUDs. Not to mention, the offices are regularly secret shopped and I can tell when someone is AFK even with auto responders.
If you are interested in this position, please contact the following people:
L&L Rentals and Sales: SelesteMxx Maxsted
L&L Bank and Trust: Luke Birdbrain
L&L Credit Reporting Agency: Lindsay Druart
L&L Corporation: Luke Birdbrain
L&L Bank and Trust, Port Druart
L&L Credit Reporting Agency, Port Druart
L&L Rentals and Sales, Port Druart
L&L Corporation, Port Chase
Compensation is L$1500/week with a Monday-Friday work week approximately 3-4 hours a day and company matched stock purchases up to L$1000 dollars in shares from EACH L&L publicly traded after 30 days of successful employment.
Please keep in mind that being AFK at the desk will result in immediate termination including and up to company matched shares revocation. The chairs at the desks contain timers that calculate time and can bypass anti-idle HUDs. Not to mention, the offices are regularly secret shopped and I can tell when someone is AFK even with auto responders.
If you are interested in this position, please contact the following people:
L&L Rentals and Sales: SelesteMxx Maxsted
L&L Bank and Trust: Luke Birdbrain
L&L Credit Reporting Agency: Lindsay Druart
L&L Corporation: Luke Birdbrain
Wednesday, November 28, 2007
Become an affiliate! ((earn money!))
~Affiliate Program~
The L&L Bank and Trust affiliate program is more than a way to bring in customers. It is a marketing tool that brings a great benefit to the affiliate and L&L Bank and Trust. Your ATM location is listed on our website and you filtrate customers to the ATM, giving you an advertising edge and an extra income in the process.
~How it works~
Send a landmark and an instant message to LNLBT Miles. Place a red box (a red prim, people - nothing overly complicated) where you would like your ATM and we will install if for you within 48hrs. Please make sure to allow the avatar to build in order to place the ATM. Adding to a group may not work as the avatar is limited groups, but we will try to accept all groups and then remove them when done with the installation. Any new users that open an account at your ATM become affiliated with you. Each day, we pay you a 0.012% bonus on the cash balances of the users affiliated with you.
So, if you have a mall, store, club, or anything else, this is perfect for you!
If you have any questions, feel free to IM Luke Birdbrain in world, or submit a support ticket.
Thanks,
Luke Birdbrain
The L&L Bank and Trust affiliate program is more than a way to bring in customers. It is a marketing tool that brings a great benefit to the affiliate and L&L Bank and Trust. Your ATM location is listed on our website and you filtrate customers to the ATM, giving you an advertising edge and an extra income in the process.
~How it works~
Send a landmark and an instant message to LNLBT Miles. Place a red box (a red prim, people - nothing overly complicated) where you would like your ATM and we will install if for you within 48hrs. Please make sure to allow the avatar to build in order to place the ATM. Adding to a group may not work as the avatar is limited groups, but we will try to accept all groups and then remove them when done with the installation. Any new users that open an account at your ATM become affiliated with you. Each day, we pay you a 0.012% bonus on the cash balances of the users affiliated with you.
So, if you have a mall, store, club, or anything else, this is perfect for you!
If you have any questions, feel free to IM Luke Birdbrain in world, or submit a support ticket.
Thanks,
Luke Birdbrain
LLCA Shares Given to LLBT Shareholders
Currently, the IPO for L&L Credit Reporting Agency ends November 30th. The system is already live and uploads will occur in the next week as we wrap up the security of the L&L Bank and Trust system. In an effort to maintain LLBT shareholder value, I am proposing an opportunity for direct benefit to LLBT shareholders.
If the LLCA IPO fills in completion by the due date, the 40% shares held by LNLBT Miles, the banks alt, will be distributed directly to the LLBT shareholders at a 3:1 split. This means for every 3 shares of LLBT held at the end of the LLCA IPO, the shareholder will recieve 1 share of LLCA.
I do know that some LLBT shareholders have issues with WSE as holding shares there and I do not want anyone to miss out on this opportunity because of that so those shares will be held in the bank alt, LNLBT Miles, and a log created with the shares that you would recieve. If an LLBT customer would like to sell their LLCA shares and do not have or want a WSE account, they would simply need to submit a support ticket on the http://www.myllbt.com and we will sell the shares and deposit the funds to the bank account. Also, dividends recieved on those shares will be credited to the bank account of the shareholder.
This would change how dividends are recieved from LLCA profits as the shareholders at the completion of the LLCA IPO will benefit, rewarding past LLBT shareholders that remain rather than paying dividends to day traders. Keep in mind, there is nothing wrong with day trading but it does create a bump in the value that long term investors get from dividends.
Keep in mind that the only way we can do this is if the LLCA IPO completes as that determines the conversion of shares and anything less would not be worth it to the LLBT shareholders. Feel free to email me at lindsay.druart@gmail.com if you have questions. Thank you for your continued support.
If the LLCA IPO fills in completion by the due date, the 40% shares held by LNLBT Miles, the banks alt, will be distributed directly to the LLBT shareholders at a 3:1 split. This means for every 3 shares of LLBT held at the end of the LLCA IPO, the shareholder will recieve 1 share of LLCA.
I do know that some LLBT shareholders have issues with WSE as holding shares there and I do not want anyone to miss out on this opportunity because of that so those shares will be held in the bank alt, LNLBT Miles, and a log created with the shares that you would recieve. If an LLBT customer would like to sell their LLCA shares and do not have or want a WSE account, they would simply need to submit a support ticket on the http://www.myllbt.com and we will sell the shares and deposit the funds to the bank account. Also, dividends recieved on those shares will be credited to the bank account of the shareholder.
This would change how dividends are recieved from LLCA profits as the shareholders at the completion of the LLCA IPO will benefit, rewarding past LLBT shareholders that remain rather than paying dividends to day traders. Keep in mind, there is nothing wrong with day trading but it does create a bump in the value that long term investors get from dividends.
Keep in mind that the only way we can do this is if the LLCA IPO completes as that determines the conversion of shares and anything less would not be worth it to the LLBT shareholders. Feel free to email me at lindsay.druart@gmail.com if you have questions. Thank you for your continued support.
Wednesday, November 21, 2007
An Official Apology to Intlibber Brautigan and BNT
I got in a car accident on my way to work this morning and I am sitting at work with a massive headache about to leave to go to the hospital but I promised I would do this so I am stopping to do it.
In a posting a while back I stated that BNT purchased stolen software and it was confused that I meant BNT stole the software. What I meant was Investor Allen stole the software from JTF but I was informed that JTF allowed the sale of the software.
This is an official apology to BNT and it staff for the posting. It was a misunderstanding on my part. I have talked at length with Intlibber and there is no animosity between himself and I or our companies. I am actually pledging a sound business relationship between the two brands just as I have an understanding with SLIB and Tyrian Camillo.
Bottom line in all of this, the more we work together to safeguard the financial sector, the more viable the sector as a whole. While I still don't agree with the current stance of SLEC or its call on WSE, I will leave it at being a work in progress.....
In a posting a while back I stated that BNT purchased stolen software and it was confused that I meant BNT stole the software. What I meant was Investor Allen stole the software from JTF but I was informed that JTF allowed the sale of the software.
This is an official apology to BNT and it staff for the posting. It was a misunderstanding on my part. I have talked at length with Intlibber and there is no animosity between himself and I or our companies. I am actually pledging a sound business relationship between the two brands just as I have an understanding with SLIB and Tyrian Camillo.
Bottom line in all of this, the more we work together to safeguard the financial sector, the more viable the sector as a whole. While I still don't agree with the current stance of SLEC or its call on WSE, I will leave it at being a work in progress.....
Monday, November 19, 2007
Ruling - Case Lindsay Druart vs SL Marketing from SLM on WSE
https://www.wselive.com/research/announcement_detail/2998
But the best thing about the post is.....
SL Marketing's Official StatementSL Marketing will honor the payment of noted amount of L$32,000. The amount of L$8,000 will be posted to her account in 4 installments totaling up to the noted amount.
The payments will fall on the following Thursdays at 11:59 Eastern.
November 22, 2007 @ 23:59 (GMT-5)
November 29, 2007 @ 23:59 (GMT-5)
December 06, 2007 @ 23:59 (GMT-5)
December 13, 2007 @ 23:59 (GMT-5)
This will terminate any outstanding debts that SL Marketing has currently.As always, if anyone has any questions, please forward them to jon.desmoulins@slmarketing.us.
Best Regards,
Jon Desmoulins
It takes a month to pay $32,000L?
But the best thing about the post is.....
SL Marketing's Official StatementSL Marketing will honor the payment of noted amount of L$32,000. The amount of L$8,000 will be posted to her account in 4 installments totaling up to the noted amount.
The payments will fall on the following Thursdays at 11:59 Eastern.
November 22, 2007 @ 23:59 (GMT-5)
November 29, 2007 @ 23:59 (GMT-5)
December 06, 2007 @ 23:59 (GMT-5)
December 13, 2007 @ 23:59 (GMT-5)
This will terminate any outstanding debts that SL Marketing has currently.As always, if anyone has any questions, please forward them to jon.desmoulins@slmarketing.us.
Best Regards,
Jon Desmoulins
It takes a month to pay $32,000L?
LLBT Does NOT affect LLRS
Today, LLBT suffered a hack and theft depleting the bank's linden balance to 24k with over 3 million in missing funds. The question was asked how this affects LLRS. It does NOT as LLRS funds are held in a different account and very little was on deposit at the bank. The LLRS account balance was a little over 30k. All funds from the secondary are still held in LNL Bing. Feel free to contact me at lindsay.druart@gmail.com if you have any questions.
All Bank Activity Halted Until Further Notice
At about 3:50am SLT, I got an IM from Tyrian Camillo of SLIB stating that someone was depositing fraudulent lindens and to be careful. I looked at the bank records and saw a 10 million deposit from Betatester Allen who then withdrew $20,500. The account was disabled from Tyrian's alert and LL refunded back the $20,500.
I was checking the account to make sure they didn't ding us for 150% as per the TOS and as I was refreshing the screen, I watch the balance drop before my eyes. In a matter of 3 minutes, the ATM located at the Banking and Investment Center owned by Mateo Infinity on Vacit was hacked and payments made to an avatar by the name of Hamid Jewell totalling a little over 3 million linden running the bank avatar down to $24k. The exact total is not known currently since it was several transactions over the period of time and the legitimate transactions of the day are not showing up for me currently.
I have contacted Concierge and the Governance team are working on the issue. The alt account has been halted and the ATM returned. All ATMs are offline until further notice. All current CD accounts will be halted and returned to their account holders at their current balances. We are waiting for LL to finish their investigation and return the lindens. At that time we will evaluate the loss, if any and proceed from there.
This notice will be posted as many places possible and given to other banks to release as they see fit. I will update the market as I get information and I will be plugging at Concierge all day. I am taking off my RL job to get done what I can so I will be in world or at least in Gtalk if anyone wants to speak with me at lindsay.druart@gmail.com and I will gladly respond as soon as possible.
I ask that everyone keep calm until I get a resolution to this from Linden Labs. Thank you.
Sincerely,
Lindsay Druart
I was checking the account to make sure they didn't ding us for 150% as per the TOS and as I was refreshing the screen, I watch the balance drop before my eyes. In a matter of 3 minutes, the ATM located at the Banking and Investment Center owned by Mateo Infinity on Vacit was hacked and payments made to an avatar by the name of Hamid Jewell totalling a little over 3 million linden running the bank avatar down to $24k. The exact total is not known currently since it was several transactions over the period of time and the legitimate transactions of the day are not showing up for me currently.
I have contacted Concierge and the Governance team are working on the issue. The alt account has been halted and the ATM returned. All ATMs are offline until further notice. All current CD accounts will be halted and returned to their account holders at their current balances. We are waiting for LL to finish their investigation and return the lindens. At that time we will evaluate the loss, if any and proceed from there.
This notice will be posted as many places possible and given to other banks to release as they see fit. I will update the market as I get information and I will be plugging at Concierge all day. I am taking off my RL job to get done what I can so I will be in world or at least in Gtalk if anyone wants to speak with me at lindsay.druart@gmail.com and I will gladly respond as soon as possible.
I ask that everyone keep calm until I get a resolution to this from Linden Labs. Thank you.
Sincerely,
Lindsay Druart
Friday, November 16, 2007
CCE has be cleaned up!
I am proud, and very happy, to announce that Commerce City East is now better than ever! We completely re-organized the sim, which allowed us to offer a variety of different parcel sizes as well as a variety of different locations!
Sizes range from 512s all the way up tp 5K+!! We now offer a few beach house rentals, as well as beach land to buy and do what you wish with. Of course, we still have our 'city' set up. Think...Miami - near the ocean, etc etc.
Prices are still the same as seen on our other sims, as is the convenant. Come by and check us out. Just map "Commerce City East"!
Thanks,
Luke Birdbrain
Sizes range from 512s all the way up tp 5K+!! We now offer a few beach house rentals, as well as beach land to buy and do what you wish with. Of course, we still have our 'city' set up. Think...Miami - near the ocean, etc etc.
Prices are still the same as seen on our other sims, as is the convenant. Come by and check us out. Just map "Commerce City East"!
Thanks,
Luke Birdbrain
Thursday, November 15, 2007
A new line of thinking....Reinventing the SL Bank
With respect to long term growth and stability, we are making some changes at L&L Bank and Trust now to solidify our future. The following changes will become effective December 1 and will create the back bone for the ongoing short and long term goals for the bank. We are going to a more real world setting in our deposit products that is still conducive to the market. This change is an effort to help stabilize the banking community to more attainable lengths and secure investments long term. The following changes are:
*Prime rate will be eliminated for the time being until we see fit to establish one at a later date.
*Regular savings accounts will have a weekly yield of 0.1% weekly (0.0143% daily) with no penalty for early termination. Interest calculation will still be based on the average daily balance over a 7 day period.
*We will add a 1 week CD that has a weekly yield of 0.2% weekly (0.0286% daily) with a 50% early termination penalty with a L$1000 minimum. We are also adding a 2 week CD that has a weekly yield of 0.5% weekly (0.0714% daily) with a 75% early termination period with a L$5000 minimum. Early termination penalty is the percentage of interest earned at termination and does not affect the principal. Interest on CDs is still paid out daily.
*The 30 day CD will have a weekly yield of 0.75% weekly (0.1071% daily) with a 88% early termination penalty with a L$10,000 minimum and the 90 day CD will have a weekly yield 1.00% weekly (0.1423% daily) with a 100% early termination penalty with a L$50,000 minimum.
*120 and 365 day CDs will be eliminated until we see a future need to reestablish them.
****NOTE: Keep in mind that existing CDs are NOT affected and will run their current terms as is at the time they were created.****
*Secured loans interest will drop from 0.21% daily to 0.14% daily. Criteria will remain the same for the most part with each loan handled on a case by case basis.
*Unsecured personal loans will become available with 0.175% daily interest. Loans fulfilled within 24 hours to account. Loans will be handled on case by case basis.
*Affiliates will receive weekly bonuses for their affiliations at 0.01% of the average balance per user on their ATM if the average per user is over L$5000.
*We are currently combing the database for dormant and inactive accounts and will IM those account holders. A dormant account currently classifies as an account of a person who has not been in game for more than 60 days. An inactive account classifies as an account of a person who has not accessed their account via ATM or website in more than 60 days.
An adjustment will be made on the account to zero the balance and four IMs sent to the customer over a 14 day period if the person is in game and six IMs over a 14 day period if they are not. Unclaimed funds will be used to purchase shares of LLBT to be held in a special alt and a subaccount created for each person that will gain dividends. If the customer comes back within 6 months to reclaim funds, the shares purchased with those funds will be given to the customer or those shares sold at market value to equal 90% of the balance at the time the account was adjusted. The reason for this is to account for decrease in value of the linden.
Dividends paid to those shares will go to the fund being held under the alt and can be used in the case that 90% of the balance is more than the value of the shares sold. After 6 months, those shares will be retired and dividend funds will go to the fund held under LNLBT Miles. This assists greatly in buyback efforts. If an account is held by an avatar of a cancelled SL account, the account will be adjusted indefinitely. Dormant and inactive accounts efforts are effective immediately.
*LLCA dividends will be included as profit for LLBT. If LLBT pays a dividend for a particular month, the LLCA dividend will be included, if not, LLBT will issue a special dividend of 10% of the LLCA dividend to LLBT shareholders. The rest of the dividend will be reinvested into the bank.
These are the current short term goals and more additions will be added once we solidify our long term model. As growth continues we will branch back out but we feel that it is necessary to tap what we can control until the market for banking in SL is more stable and dynamic. I am coming to the conclusion that attempting to compete with tremendous promises is counter-productive and does nothing but stifle the inevitable as we have seen with the recent crash of very large banks. There is the possible and there is the possible impossible. We have seen that it is extremely hard to maintain the rates being paid by banks long term. Our preparations now are for our future later. We look forward to progressive growth and a long standing future in Second Life.
*Prime rate will be eliminated for the time being until we see fit to establish one at a later date.
*Regular savings accounts will have a weekly yield of 0.1% weekly (0.0143% daily) with no penalty for early termination. Interest calculation will still be based on the average daily balance over a 7 day period.
*We will add a 1 week CD that has a weekly yield of 0.2% weekly (0.0286% daily) with a 50% early termination penalty with a L$1000 minimum. We are also adding a 2 week CD that has a weekly yield of 0.5% weekly (0.0714% daily) with a 75% early termination period with a L$5000 minimum. Early termination penalty is the percentage of interest earned at termination and does not affect the principal. Interest on CDs is still paid out daily.
*The 30 day CD will have a weekly yield of 0.75% weekly (0.1071% daily) with a 88% early termination penalty with a L$10,000 minimum and the 90 day CD will have a weekly yield 1.00% weekly (0.1423% daily) with a 100% early termination penalty with a L$50,000 minimum.
*120 and 365 day CDs will be eliminated until we see a future need to reestablish them.
****NOTE: Keep in mind that existing CDs are NOT affected and will run their current terms as is at the time they were created.****
*Secured loans interest will drop from 0.21% daily to 0.14% daily. Criteria will remain the same for the most part with each loan handled on a case by case basis.
*Unsecured personal loans will become available with 0.175% daily interest. Loans fulfilled within 24 hours to account. Loans will be handled on case by case basis.
*Affiliates will receive weekly bonuses for their affiliations at 0.01% of the average balance per user on their ATM if the average per user is over L$5000.
*We are currently combing the database for dormant and inactive accounts and will IM those account holders. A dormant account currently classifies as an account of a person who has not been in game for more than 60 days. An inactive account classifies as an account of a person who has not accessed their account via ATM or website in more than 60 days.
An adjustment will be made on the account to zero the balance and four IMs sent to the customer over a 14 day period if the person is in game and six IMs over a 14 day period if they are not. Unclaimed funds will be used to purchase shares of LLBT to be held in a special alt and a subaccount created for each person that will gain dividends. If the customer comes back within 6 months to reclaim funds, the shares purchased with those funds will be given to the customer or those shares sold at market value to equal 90% of the balance at the time the account was adjusted. The reason for this is to account for decrease in value of the linden.
Dividends paid to those shares will go to the fund being held under the alt and can be used in the case that 90% of the balance is more than the value of the shares sold. After 6 months, those shares will be retired and dividend funds will go to the fund held under LNLBT Miles. This assists greatly in buyback efforts. If an account is held by an avatar of a cancelled SL account, the account will be adjusted indefinitely. Dormant and inactive accounts efforts are effective immediately.
*LLCA dividends will be included as profit for LLBT. If LLBT pays a dividend for a particular month, the LLCA dividend will be included, if not, LLBT will issue a special dividend of 10% of the LLCA dividend to LLBT shareholders. The rest of the dividend will be reinvested into the bank.
These are the current short term goals and more additions will be added once we solidify our long term model. As growth continues we will branch back out but we feel that it is necessary to tap what we can control until the market for banking in SL is more stable and dynamic. I am coming to the conclusion that attempting to compete with tremendous promises is counter-productive and does nothing but stifle the inevitable as we have seen with the recent crash of very large banks. There is the possible and there is the possible impossible. We have seen that it is extremely hard to maintain the rates being paid by banks long term. Our preparations now are for our future later. We look forward to progressive growth and a long standing future in Second Life.
Sunday, November 11, 2007
L&L Credit Reporting Agency Registration Now Open
L&L Credit Reporting ATMs are not out and ready for registration. Deposits into the account are not necessary to create the file and registration is not needed to create the file either. However, it makes things easier if the avatar is registered especially during an investigation process.
ATMs can be found at the L&L Corporation Office on Port Chase, L&L Bank and Trust Main Branch on Port Druart, and the L&L Credit Reporting Agency Main Branch on Port Druart. Each Provider will have a registration ATM placed at their location. If you would like to become a provider, please email me at lindsay.druart@gmail.com, as well as send a landmark and IM to LNLCA Dawes and we will place the ATM and get you signed into the system within 24 hours.
The ad network on the website will be completed soon as well as more content added over the next few days. We expect full implementation by close of the IPO on November 15th.
ATMs can be found at the L&L Corporation Office on Port Chase, L&L Bank and Trust Main Branch on Port Druart, and the L&L Credit Reporting Agency Main Branch on Port Druart. Each Provider will have a registration ATM placed at their location. If you would like to become a provider, please email me at lindsay.druart@gmail.com, as well as send a landmark and IM to LNLCA Dawes and we will place the ATM and get you signed into the system within 24 hours.
The ad network on the website will be completed soon as well as more content added over the next few days. We expect full implementation by close of the IPO on November 15th.
Score 1 for SLBB for Unbiased Actions
If you don't remember way back in April/May, I started the RPG project with a partial sim called Leonetta and tabled the project because our advertising went sour due to our advertising budget being spent with SL Marketing and the ads never getting completed. I filed a complaint with the SL Business Bureau of which Jon Desmoulins was chairman of I believe. Because of this, I did not think that I would get a fair chance but I said what the hey. The money wasn't the issue. It was the principle of the thing.
Anywho, we had a mediation meeting which ended in Mizzy Maltz, former CEO of AtomicPink who went bankrupt and disappeared from SL recently, stating that they would give me a store credit for services when I wanted out. I just wanted my money back but she and Jon decided against it. I think I ended up getting back 14k lindens of the 32k lindens I wanted back. Total was actually around 50k lindens so it wasn't a totally loss for SLM.
After the meeting did not go to my standard, I asked for arbitration. Of course that was in June and the meeting didn't come until October. We had the meeting in which SLBB found that SLM and Jon Desmoulins was negligent in handling my customer experience and was ordered to refund me around 17k lindens. I was pleased that SLBB did not let the fact that Jon was their own sway the arbitration process.
Now, did I get my money back? No. And how did Jon Desmoulins respond to losing this 6 month battle? He resigned from SLBB and closed their website and has all of SLBB on mute probably. Nice handling of the situation, Jon. I would have thought that 17k lindens was chump change and it would be handled professionally but I see that Mr. Desmoulins does not know the term very well.
My experience with SL Business Bureau was a bit delayed but nevertheless I was not forgotten so that does stand for something with me. I am a bit impressed that it was actually handled. SL Marketing on the other hand is a memory I would rather forget considering my banners were flubbed in the end by a thief who walked away from SL with investor's money and didn't bother to say a word and her employer who doesn't play by his own rules.
However, one awesome thing I did get from SL Marketing was a great sales person who did her job well and has been an investor of the L&L Brand for quite sometime. ServMe was an awesome and attentive salesperson and very knowledgeable. If I was just purchasing impressions, I am sure I would have had a different experience but to no avail....score 1 SLBB for doing your job. I am going to work with a few people to see if we can get them another website since Jon Desmoulins canceled it out of spite.
This would be the second time SLBB has handled a complaint for me. The one other complaint I had was handled and I was refunded by the business within 24 hours. I was leary about SLBB way back when but now I see it as something in SL to support. All companies in the L&L Brand are members and I charge other companies to join as well.
Anywho, we had a mediation meeting which ended in Mizzy Maltz, former CEO of AtomicPink who went bankrupt and disappeared from SL recently, stating that they would give me a store credit for services when I wanted out. I just wanted my money back but she and Jon decided against it. I think I ended up getting back 14k lindens of the 32k lindens I wanted back. Total was actually around 50k lindens so it wasn't a totally loss for SLM.
After the meeting did not go to my standard, I asked for arbitration. Of course that was in June and the meeting didn't come until October. We had the meeting in which SLBB found that SLM and Jon Desmoulins was negligent in handling my customer experience and was ordered to refund me around 17k lindens. I was pleased that SLBB did not let the fact that Jon was their own sway the arbitration process.
Now, did I get my money back? No. And how did Jon Desmoulins respond to losing this 6 month battle? He resigned from SLBB and closed their website and has all of SLBB on mute probably. Nice handling of the situation, Jon. I would have thought that 17k lindens was chump change and it would be handled professionally but I see that Mr. Desmoulins does not know the term very well.
My experience with SL Business Bureau was a bit delayed but nevertheless I was not forgotten so that does stand for something with me. I am a bit impressed that it was actually handled. SL Marketing on the other hand is a memory I would rather forget considering my banners were flubbed in the end by a thief who walked away from SL with investor's money and didn't bother to say a word and her employer who doesn't play by his own rules.
However, one awesome thing I did get from SL Marketing was a great sales person who did her job well and has been an investor of the L&L Brand for quite sometime. ServMe was an awesome and attentive salesperson and very knowledgeable. If I was just purchasing impressions, I am sure I would have had a different experience but to no avail....score 1 SLBB for doing your job. I am going to work with a few people to see if we can get them another website since Jon Desmoulins canceled it out of spite.
This would be the second time SLBB has handled a complaint for me. The one other complaint I had was handled and I was refunded by the business within 24 hours. I was leary about SLBB way back when but now I see it as something in SL to support. All companies in the L&L Brand are members and I charge other companies to join as well.
Saturday, November 10, 2007
LLCA Web is now LIVE!
The website is currently viewable at http://www.llcra.com and we are working through clean up and content. In the next few days, you will see content and disclaimers added to the website with a final version 1 launch by the end of the week. There isn't much to see currently but we will have to registration ATMs out within the next few days so that avatars wanting to start a report may register ahead of time. Records from L&L Credit Reporting Agency and L&L Bank and Trust will be uploaded to the system within the next few days as the first Enterprise Corporate customers. Corporate packets will go out to SL banks and lands companies in over the next week and we should start to see more providers coming on board. Feel free to contact me with questions.
LLCA IPO Ends Novermber 15th
Most people know that L&L Credit Reporting Agency was once a division of L&L Bank and Trust at one point. In order to promote objectivity, the credit reporting agency was spun off completely to eliminate as much conflict of interest as possible and safeguard both companies from cost differential issues as the bank is much more in depth that LLCA would be. As a result, we did some recalculating of share distribution to make sure LLBT shareholders were not outted. I am going to make some final changes to the share distribution with regard to the LLBT shareholders as I saw an error in my calculation that was not conducive or fair.
Being that I am chairman of both LLBT and LLCA, I don't think its fair to have holdings in both companies as both would pay dividends. In light of that, I am pledging my chairman's holding in LLCA to LLBT giving LLBT shareholders a majority holding. The share breakdown is as follows:
25% to IPO
40% to LNLBT Miles (representing LLBT shareholders and this alt will hold a spot on the board of directors acting as the voting proxy for LLBT shareholders in LLCA)
10% to CEO (Mateo Infinity)
5% to CCO (Luke Birdbrain)
5% to CTO (Unoti Quonset)
5% to CFO (Undetermined)
5% to COO (Undetermined)
5% to LLCA Alt (LNLCA Dawes)
I will still remain Chairman of the Board but my share holdings are represented with the holdings I have in LLBT. LLCA's alt will hold shares and any undetermined shares until those positions are filled. Shares held by the LLCA alt will recieve a dividend paid and those funds will be held in the alt as a company savings account so to speak to insure that we are able to continue dividends and supplement income if we ever need to.
Keeping holdings in the alt is our way of being forward thinking in insuring our success. Preparation before realization is the key to a long term business and the L&L Brand seeks to have all of its companies running under the same precedence.
Now is the time to make the best of your investments. The product should launch within days of the end of IPO. It is in final testing now. Email me at lindsay.druart@gmail.com if you would like the powerpoint of the shareholder meeting. Thank you for your interest.
Being that I am chairman of both LLBT and LLCA, I don't think its fair to have holdings in both companies as both would pay dividends. In light of that, I am pledging my chairman's holding in LLCA to LLBT giving LLBT shareholders a majority holding. The share breakdown is as follows:
25% to IPO
40% to LNLBT Miles (representing LLBT shareholders and this alt will hold a spot on the board of directors acting as the voting proxy for LLBT shareholders in LLCA)
10% to CEO (Mateo Infinity)
5% to CCO (Luke Birdbrain)
5% to CTO (Unoti Quonset)
5% to CFO (Undetermined)
5% to COO (Undetermined)
5% to LLCA Alt (LNLCA Dawes)
I will still remain Chairman of the Board but my share holdings are represented with the holdings I have in LLBT. LLCA's alt will hold shares and any undetermined shares until those positions are filled. Shares held by the LLCA alt will recieve a dividend paid and those funds will be held in the alt as a company savings account so to speak to insure that we are able to continue dividends and supplement income if we ever need to.
Keeping holdings in the alt is our way of being forward thinking in insuring our success. Preparation before realization is the key to a long term business and the L&L Brand seeks to have all of its companies running under the same precedence.
Now is the time to make the best of your investments. The product should launch within days of the end of IPO. It is in final testing now. Email me at lindsay.druart@gmail.com if you would like the powerpoint of the shareholder meeting. Thank you for your interest.
Friday, November 9, 2007
LLRS Secondary Coming Soon
As per previous proposal, the secondary for expansion will start in the very near future. We had a strong Q3 and should start seeing the ROI from our recent additions in the RPG sector during Q4. The There project is becoming a bit combersome as we learn the system but we expect to see some productive numbers from it for Q4. The Red Light Center expansion will take longer than expected so we do not expect much residual from that until FY08 Q2.
The secondary will be 725,000 shares at $2.00/share and will run for 15 DAYS ONLY. Any unpurchased shares will be given to existing shareholders before the system halt at 1/4 a share for every secondary share purchased with precedence given to the shareholder that purchases the most during the secondary. If the secondary sells out, we will look at the other possibilities to reward shareholders.
We are coming up on 1 year in business in SL and this is exciting stuff. Our official start was January 21st which was also Luke Birdbrain and my wedding day...memories...but the company actually started December 5, 2006. It has been a long hard road and we haven't missed a beat.
Hostel and Obsidian City have been transferred and are now held by the company alt LNL Bing. We are transferring all islands to LNL Bing in an effort to create the closest thing to a corporation in SL we can. In the coming weeks, you will also see some share distribution changes that will put shares in the hands of the alt to hold the dividends paid on those shares to guarantee reserve holdings. I have done this with my other company and will do this with LLCA to make sure we are diligently separating personal income and expenditure from business in an attempt to create a modified corporation rather than the expanded sole proprietorships that most companies in SL have.
The secondary will be 725,000 shares at $2.00/share and will run for 15 DAYS ONLY. Any unpurchased shares will be given to existing shareholders before the system halt at 1/4 a share for every secondary share purchased with precedence given to the shareholder that purchases the most during the secondary. If the secondary sells out, we will look at the other possibilities to reward shareholders.
We are coming up on 1 year in business in SL and this is exciting stuff. Our official start was January 21st which was also Luke Birdbrain and my wedding day...memories...but the company actually started December 5, 2006. It has been a long hard road and we haven't missed a beat.
Hostel and Obsidian City have been transferred and are now held by the company alt LNL Bing. We are transferring all islands to LNL Bing in an effort to create the closest thing to a corporation in SL we can. In the coming weeks, you will also see some share distribution changes that will put shares in the hands of the alt to hold the dividends paid on those shares to guarantee reserve holdings. I have done this with my other company and will do this with LLCA to make sure we are diligently separating personal income and expenditure from business in an attempt to create a modified corporation rather than the expanded sole proprietorships that most companies in SL have.
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