market watch

Current Time:
01:02:27 (GMT)

Market Volume (24hrs):
0

Market Turnover (24hrs):
L$0.00
WIC$0.00

your account

Policies

World Stock Exchange News

Announcement

Date: March 24, 2007

Dear members,

During the past 20 days the WSE has been experiencing huge growth with over 1000 members & 30 companies.
The WSE is now 100% owned by Hope Capital (HCL).

We have released 70% of the website functionality and plan on releasing the final 30% within 10 days. This includes more information on companies and other great features such as the shareholder voting system. Trading volume has also exceeded L$70,000,000 since the 5th of March 2007.

Hope Capital acquired 100% of the WSE from Shaun Altman. Shaun chose to sell a small portion of his shares on the WSE and as a result the Hope Capital Ltd share price reached a low on the day of around $3.50 due to all the buy orders being filled.

Shaun is now focused on his own projects and has re-invested most of the share proceeds into taking IPO's to market which includes RDX, YEP & TSF.

The WSE's performance has been strong and has so far seen 29 IPO's fully subscribed with all shares sold to investors. The capital raised is being used by those companies to achieve the objectives layed out in their prospectus while also creating jobs and generating increased economic activity in Second Life.

As a result of this success the WSE has now received over 40 IPO applications pending approval to begin raising capital for their businesses. Since the WSE is clearly going to be the financial hub of Second Life it is extremely important that we ensure it will remain strong and continue to grow as the stock market has a significant impact on the economy as is the case in real life.

In order to provide Second Life residents with a quality securities trading environment it is important that we have responsible market management. Due to the large number pending IPO applications and the extremely fast growth of the market we will not approve any IPO's until the 30th March '07. This process is designed to allow investors time to buy more lindens, for the existing IPO's to raise capital faster and to prepare for the next wave of IPO's.

On the 26th March '07 the WSE will be providing regular and detailed educational seminars covering information on using the website and how to trade shares.

Kind Regards,

LukeConnell Vandeverre,
Chairman and CEO

Permalink




DISCLAIMER: The World Stock Exchange (WSE) is a Fictional Securities Exchange and Banking service developed for educational and entertainment purposes and is not a real life securities exchange and bank. The WSE does not use real currency and only operates using fictional currencies called (Linden Dollars) and (World Internet Currency). Using the Linden Currency is subject to the Terms of Service by Linden Research Inc. located at www.secondlife.com and using the World Internet Currency is subject to the Terms of Service by WIC Exchange Pty Limited located at www.wicexchange.com. The World Stock Exchange is owned and operated by Hope Capital Pty. Ltd, Australia. By visiting and using the this website titled World Stock Exchange and located at www.wselive.com you are accepting and agree with the WSE Terms of Service ("TOS"). Hope Capital and World Stock Exchange are registered trademarks of Hope Capital Pty. Ltd, Australia. Second Life and Linden Lab are registered trademarks of Linden Research Inc.