Kush Islands Leaving WSE

***KUSH ISLANDS DELISTING FROM WSE***
Submitted by: Kush Islands (HOT)
Date: February 26, 2008

Dear Shareholders,

With your help over the last year, Kush Islands has grown from a single region estate to a much larger community that now includes nine regions. In turn, our shareholders have been rewarded for their investment with share price appreciation and healthy dividends. As management of Kush Islands, we have always focused on creating value and looking out for the best interest of shareholders.

Kush Islands has been listed on the World Stock Exchange since April 2007. In this time, we have seen many changes to the virtual economy, and to the World Stock Exchange in particular. Some positive, some negative, but regardless, we have always done our best as a company to keep an even keel. However, recent developments at the World Stock Exchange have impaired our ability to properly service our shareholders.

In addition to the exchange's extended closure, we are concerned about the direction the World Stock Exchange is taking, given the recent announcements by its founder. To remain listed on the World Stock Exchange would not only mean continued impairment of the vital relationship with our shareholders, but would also mean continued exposure to the ostensibly unsound policy decisions of its founder. We can no longer tolerate either.

Effective immediately, Kush Islands will delist from the World Stock Exchange and will begin trading on the SL Capital Exchange (www.slcapex.com). If you are a Kush Islands shareholder, you will need to create an account with SL Capital Exchange to receive your shares.

Please do not hesitate to contact Clintovius Trotter or me with any questions.

Best Regards,

Rockwell Ginsberg
Chairman and Founder, Kush Islands

https://www.wselive.com/research/announcement_detail/3387

Interesting.

So evidently the bank ban hasn't hit these "Stock Exchanges" yet.

Rockwell,

I know you are trying to be diplomatic, but what were the exact concerns at WSE, and why is the SL Capital Exchange a better bet?

Probably that SLCAPEX doesn't have a WTF fund looming over everyone's head.

uh huh...
Has Bradley opened his new SE yet? ill trust him before i trust anything that had any dealings with Gink...hmm Gin-sberg...Gin-ko....

Rockwell is a real estate developer with a stock offering. The only thing it has in common with Ginko is that it's an SL based investment with no guarantees, but it's a stock offering, not a bank or Ponzi scheme.

original post: so if i buy stock in kush, with no gurantees, what do i get in return?

what i should ask is, why should i invest in a land group who had, possibly, questionable, though profitable dealings with a company who defiantly had somewhat shady dealings with another company, that moves its business to another lesser known, at least to me, company?

Well yeah, he isn't the Stock Exchange, but a business listed on an exchange, a change in listings in this case.

Definitely I agree the OP's business is no Ponzi.

Whether that can be said for all SL Stock Exchanges .. thats a bit of a different thing.

Well thats the deal.

Kush might be 100% legitimate ..

And you could still get ripped off. And so could Kush.

It seems to me Rockwell made this announcement because he wants to use an exchange that is least likely to result in this and most likely to get investors a return.

Of course if SL decides to ban all this quasi Stock Exchanges ... everyone gets burnt ... except the exchange.

The Exchange/bank really has nothing to lose, Whether the economy fails or the Lindens step in.

You get a return on your investment if the stock goes up. But it's a gamble.

I would not invest in any SL Stock Exchange personally since it's not regulated and like Colette said, LL can pull the plug on it at any time. However, Rockwell is a reputable guy. Just had to defend him when he was equated with Ginko.

Hi Ray, really we just couldn't take it anymore. We have been very patient with Luke, but enough is enough. If anyone saw the live video (or read the SLH article), you know he is converting all deposits into WICs. And he will not permit conversion between WIC and Linden. And he won't say how much WICs are worth in any RL currency. And this is all assuming he eventually reopens, which I do not think we can reasonably assume at this point.

In sum, we have lost all confidence in Luke's ability to execute. Staying with the WSE is simply too risky.

SLCapex had its own problems with liquidity, but we believe they handled it much more professionally. They have reopened, and we believe they are the most viable exchange at the moment. However we recognize that as the financial landscape changes, we may need to take further action.

Thanks for your interest. See you in world!

Well I think the reason that the WSE is not open and SLCapex is, is reason enough. Plus the WIC thing sounds too sketchy. Thanks for the clarification.

Hard to blame someone for refusing to use an exchange that wont handle the accounts with either Linden$ or USD$ (or something like the Euro)

I mean .. if WSE is printing its own "money" how can it be controlled at all?

ok thanks Ray, You, Colette,and Rockwell answered my question while i was posting my rephrase.

By the way, I am now offering Figtree Unregulated Currency Tokens (FUCT). For every L$100's worth you buy, you get a shiny coin with my likeness on one side and me with a shoe up my ass on the other, redeemable for Korean stuffed animals, bling bracelets and Pokemon pencil erasers in our gift shop. IM me for details.

Kinda weird it adds another level of fake in the mix.

before it was people investing real money into a fake world with fake currency with an economy based on fake goods and fake land with all the parts that were fake maintained by one company with a vested interest in it continuing.

now it will be

people investing real money in a FAKE currency set up by a FAKE stock exchange into a fake world with fake currency with an economy based on fake goods and fake land. the stock exchange only has a passing interest in keeping things continuing since if it falls apart they can walk off with some nice USD$

-------------------------------------------------

Replace the lowercase "fakes" with "virtual" and the uppercase "FAKES" with "Made up" if you feel like it.

I still honestly don't believe that "theft" from WSE ever happened.

Key word is "fake".

It's all Fake. At least I have to admire the WSE for being up front that they are a Roleplay. Any Stock Exchange that doesn't is being misleading.

They claim they are roleplay?

Hundreds of thousands of USD? in a roleplay?

Are you sure they just dont call it "roleplay" as a disclaimer?

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).

Yeah I remember seeing that now.

Thats not the same thing at all as saying it is just Role-Play

Its more an attempt at a home-made CYA in case some regulatory agency is poking their nose into it, to discourage lawsuits, etc.

"But I said I wasn't a real Stock Exchange, Ma! honest! I don't know why the men in the suits with the badges are here!"

From the Second Life Herald Article :

http://foo.secondlifeherald.com/slh/2008/02/world-stock-exc.html

"In his opening remarks, Vandeverre reminded market watchers that the WSE is the first Internet based stock market/bank and role playing game. Vandeverre also reminded people about the history of the WSE, and how back in December of 2006, he saw a need for a virtual economy to have a virtual stock exchange. After the virtual financial history lesson, the topic turned to what is happening with the WSE in relation to Second Life moving forward."

Also from that article:

"Vanderverre took the time to remind stock holders that CEO's of companies on the WSE are not really CEO's, but also role playing participants who are simply learning the stock exchange game themselves."

This is what is known in some circles as "spin"

Basically hes holding onto a lot of money and is trying to defray criticism.

The timing of the article potentially says a great deal.

Is there an article where he prominently called it roleplay dated sometime during WSE starting up and people trusting him with money, as opposed to a post bank ban, post-Ginko Collapse, post-scandal SL?

Oh I have no doubts this is just a recent development. My point was simply they came clean at last. Back when WSE first started up, I was calling it a Roleplay. Go here for some memories, this was back when John Horner was promoting it:

/128/84/171783/1.html

In this post John does call it game:

/128/84/171783/4.html#post1469231

Came clean at last?