Feb 29th 2008, 07:34 SLIB SLIB, SL International Business
by Tyrian Camilo
SL International Business Financial Report 29th of Feb, 2008
SL International Business (SLIB) 29th of Jan, 2008Financial Report
http://slurl.com/secondlife/Ranthambore/196/225/38
Summary
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Another financial blow by Linden Lab, Inc. occurred. It seems to be a closely monthly event. Almost all policies since last August has made a impact on our profitably to a degree or another. Age verification didn't seem to have any impact what so ever, but then again, it might be just a slowly occurring. Every else has caused a financial loss for us. Estimates are rather "wild" of how much we have lost due to the policies Linden Lab, Inc. is crafting, highest estimations run in the vicinity of 40,000USD. Each month, we now have several thousand USD less profits than we used to have due to the policies Linden Lab has done.
In this world, in this time and place, Linden Lab, Inc. should not be our worst risk, however, it is, and remains to be so. Many have tried to shoot us down, unsuccessfully, time after time. Other than Linden Lab's actions have minimal to no impact what so ever. However, the troubles Linden Lab has caused us are major. Many keeps asking me, why do i keep on continuing? After all, just about every policy since august has hit us rather hard!
Nevertheless, we are still here and continue on working, no matter what LL throws against us. It has become very apparent that a mainstream attitude towards us within Linden Lab is very negative. 0 of my Abuse Reports has been solved since last summer, when they were all solved in a big chunk after months of waiting. Almost anything we ask, receives an answer which is too vague for interpretation, and more than waste our time. Remember the sudden suspension few months back? Remember how Linden Lab bunched us together with ad farmers? Have you ever been rather curious about the fact that a lot of them seems to happen as soon as we are getting into very good profits again? And quite often strange things happened exactly when a financial report was being made ... Those two are so well known with my Real World friends too, that they keep pointing it out, and recommending me to walk out, or atleast make myself appear to disappear from Second Life, and use secure tunneling, fake identity etc. to continue doing business, as apparently separate legal entity. No, that's not something i'm going to do, ever.
Some of Linden's are known to be corrupt, stupid, unpleasant to work with, annoyed if they have to actually help you, etc. That being said, some of the Linden's are honest, hard woring and highly ethical people, who actually care for the service and it's users. Some of them are simply brilliant! Unfortunately, Linden Lab seems to have very bad signal to noise ratio. Too few of the highly skilled people. Remember when Ethan Linden didn't even know what receipt is? Later on, Linden Lab tried to fraudulently charge me, Ethan kept beeting me off concierge chat, until finally got Spike Linden, who handled the issue ASAP and was fast. After which, i left it into Spike's knowing hands to have a chat with Ethan about Customer Service. Spike is one of the brilliant, fun to work with people working for Linden Lab, no matter can he help you or not, he makes you always feel like he's doing everything he can, and DOES read what your problem is.
Ok, enough for everyone's favourity topic: Bashing Linden Lab! Let's talk business.
During the past month we "acquired" WJUV Radio. Not really acquired, we still hold under 25%, but our CEO Tyrian Camilo is now CEO of WJUV Radio, and WJUV Radio is to be considered as an SLIB family company now. Listen to the radio NOW at: http://radio.wjuv.com:11466
We also bought out Digital Media for Mainostaulu during the past month, which increased the advertising delivery capacity and reach immensely. We made a deal with Codename Denmark, about them handling a lot of things for SLIB, and this is starting to bear fruit slowly.
Furthermore, there is Dignity & Sivuluisu, just came available for land sales! :)
SLIB has indeed grown to be a force to reckon within Second Life as we keep on growing and growing. Our bottomline is very nice also.
Finances
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This aren't for some small accounts 100% exact, but very close. Bottomline is within 3%, and likely within 1%. I will verify those numbers ASAP it is possible, but WSE being closed, and other people managing some few accounts, it's not possible. Furthermore, Sky Hedge Fund money is discounted still (125,000L$) as it's unknown will we ever see these funds again. Furthermore, a lot of money is still being tied up by Lindsay Druart of former L&LBT, with expected years to get our money out at this speed (Do i smell a fresh bankruptcy here?) and some in BCXLF stock / BCX. BCXLF stock has too low value right now to be liquidated.
While this show wildly negative to January, it became apparently it was wildly incorrect, due to various delays by 3rd parties, and no information was being given to me about it. For example, WSE figures were WAY WAY off back then. I did a comparison to December, weighting in all the differences by new policies, and we are well on profit. An rather exact comparison should be able to be done next month. The January financial report was that insanely much off, due to a lot of different factors.
A dividend of 260,458L$ will be posted soon.
Exchanges
WSE Portfolio: 349 750,09L$
SL Capex Portfolio: 0,00L$
VsTex Portfolio: 73 934,14L$
ANCAPEX 1 589 110,92L$
ISE Portfolio 254 031,46L$
Real Estate
Mainland 360 272sqm
Estates Vacant 119 168sqm
Islands 6
Mainland, past month 3 943 753,48L$ 10,95L$/sqm Used for bottomline
Mainland Value, all time 3 537 275,42L$ 9,82L$/sqm
Estates Vacant Land 583 172,63L$ 4,89L$/sqm
Islands Value 2 763 750,00L$
Loans
Mortgages 67 327,00L$
Receivable credit 313 179,39L$
Investments
Other banks 513 799,47L$
Funds 0,00L$
Other
Group Limbos 0,00L$
Misc. Receivables 0,00L$
Equipment 1 873 178,42L$
Inventory 75 000,00L$
Total Assets
Liquid 320 520,00L$
Cash on hand 320 520,00L$
Total Assets 12 720 506,99L$
Liabilities
Reimburseable left 1 318 496,53L$
Stock Buybacks left 5 206 569,20L$
Debt 2 090 000,00L$
Bottomline
Bottomline profit 4 105 441,26L$