- Posted May 30, 2014 by
San Francisco, California
This iReport is part of an assignment:
Ring The Virtual IPO Bell! STUDIO 777™ is Going Public On Second Life's® Capital Exchange June 7, 2014 at 5am PST
Second Life’s #1 Skill Gaming Nightclub and Resort Joins #1 Stock Market Simulation Game
NEW YORK AND SECOND LIFE -- June 1, 2014 — STUDIO 777™ (CAPEX: FUN), the #1 Skill Gaming Nightclub, Mall and Resort in the Second Life® virtual world since 2009, announced the pricing and approval of its initial public offering of 4,000,000 shares of its common stock at a price in Linden Dollars ("L$") of L$1.50 per share. The Company expects to receive gross proceeds of L$6,000,000 from the offering at closing, representing 20% of the Company. The shares are expected to begin trading under the symbol “FUN" on the Capital Exchange Stock Market Simulation Game at 5:00am SLT (PDT) / 8:00am EDT on Saturday, June 7, 2014 at http://www.slcapex.com/ipo.
FUN is comprised of several successful enterprises: A Dance Club, JOBSTAR Job Center, 777 Shopping Mall and Skill Gaming Resort. The Company has been profitable since inception in 2009 with tens of thousands of customers. At STUDIO 777, Guests play games, win and earn Lindens, socialize, enjoy great music and dance, experience a unique location with stunning graphics and bright visuals, find a job, shop, take a bike ride -- or even a rocket ride.
While in accordance with Linden Research, Inc.'s Terms of Service there can be no guarantees, the Company intends that investors will receive percentages of profits through monthly L$ dividends and with demand the price of shares will rise, creating more investor value. Currently, the Company has monthly revenue of L$10,000,000 and expenses of L$9,800,000. The offering and details are available at http://www.slcapex.com/home/story/system/8182 and should be read carefully.
Joining CEO Luke Slingshot and President KariAnne Starsmith on FUN's Board of Directors is Glaznah Gassner, the trusted and successful CEO of Smartbots (CAPEX: BOTS) and Earn2Life (CAPEX: EARN). Capital Exchange is the #1 stock market simulation game within Second Life. Skip Oceanlane, CEO of CapEx, has made honesty and integrity the cornerstone of the exchange: http://www.hypergridbusiness.com/2011/05/new-owner-of-virtual-exchange-promises-fewer-scams/. With over 22,000 accounts and L$30,000,000.00 on deposit, the FUN IPO will be the largest ever to list at Capital Exchange.
Luke Slingshot, Founder and CEO of STUDIO 777, commented, "Our experience, reputation, demonstrated results, commitment to quality and enthusiasm for the amazing things Second Life can do has created a destination that has exceeded our wildest expectations. After two years of working with Skip and his outstanding team, we're honored to be joining Capital Exchange. Having Glaznah Gassner on our Board brings a wealth of knowledge and experience that is unmatched at CapEx. As Second Life continues its revolutionary growth and development, STUDIO 777 is dedicated to amplifying the convergence of technology and entertainment."
"I am happy to announce that the Capital Exchange Regulatory Commission (CERC) has approved the L$6,000,000 Initial Public Offering (IPO) Application for STUDIO 777 (FUN). Congratulations to FUN CEO Luke Slingshot and everyone at STUDIO 777," said Skip Oceanlane, CEO of Capital Exchange. "This company listing will definitely expand our visibility within Second Life, and help bring in many new investors. I'm very excited about it."
ABOUT STUDIO 777: Since 2009, STUDIO 777 has welcomed over 1 million Guest visits with over 50 million minutes spent at 777 in the Second Life virtual world. With 30,000 Group Members, over 1,400 Live Events with international DJs & L$ prizes, 50 Mall Stores, and L$250 Million Linden won by Players and Guests, STUDIO 777 has gained a reputation for trust, integrity and fun. 777 has been ranked third highest in traffic in Second Life and honored to be named Second Life’s #1 Skill Gaming Nightclub & Resort. Visit STUDIO 777 in Second Life at http://slurl.com/secondlife/Sol%20Hermosa/114/93/35 and on the web at http://www.Studio777s.com.
ABOUT CAPITAL EXCHANGE: Capital Exchange (www.slcapex.com) is Second Life's largest stock market simulation game. In the last 12 months over 120,000,000 of virtual stock within the game has been traded. Skip Oceanlane has been the Capital Exchange CEO since January, 2011.
ABOUT LINDEN LAB: Founded in 1999 and headquartered in San Francisco, Linden Lab makes shared creative spaces that inspire and empower users to explore and share their creativity with others. For more about Linden Lab, its products, and career opportunities please visit LindenLab.com.
Safe Harbor Statement:
This press release contains statements which may constitute forward-looking statements. Those statements include statements regarding the intent, belief or current expectations of STUDIO 777, members of management, and assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Capital Exchange is a fictional stock market simulation game operating for entertainment and educational purposes only. All activity regarding Capital Exchange is governed by CapEx's disclosure statement at http://www.slcapex.com/content/disclosure and full rules for CapEx participation are at http://slcapex.com/content/info.
Copyright © STUDIO 777 Partners. All worldwide rights reserved. Second Life is a registered trademark of Linden Research, Inc. All trademarks, product data, logos and copyrights are the property of their respective Companies and no endorsement is implied. STUDIO 777 is proud to be equal opportunity and welcomes all applicants.
For Capital Exchange:
In world: Skip Oceanlane
SOURCE: STUDIO 777