Large SL Bank update

no you're wrong.

you can go and buy the bonds on wse for 0.19

ginko's paying 12% per annum quarterly

less wse commissions that results in approx. 60%

it's a different story for old ginko account holders. they've lost 80%.

do you have a wse account?

yes, i just opened one last nite - that's what i thought ginko said i should do to see my bonds that i thought had been automatically converted for me - i have done nothing myself to my ginko account, just wanted to know what's up with my term deposits and what little balance i had left in my ginko account and how to move my linden in sl to ginko or bonds or somewhere - that's my weekly stipend i'm talking about - any clue about any of that?

thx

check the portfolio link the bonds should show up as GPB

shows zero balance

it's possible they haven't completed the process yet. I'd give them a day or 2.

yeah hasnt been dont yet.

only 11 million shares outstanding currently, should be a lot more.

Anyone have any idea how what the total deposits was before the decision was made?

ballpark figure: 70-100 million.

oh here we are:

http://www.secondlifeherald.com/slh/2007/08/ginko-financial.html

"As of this writing, the savings deposits claimed at Ginko Financial's web site were L$118,429,950"

Why are you people fighting when our money probably won't yeild anything, because they don't have it. 80% of 0 Bonds is 0

actually ginko can turn a nice profit on this just by buying up all the bonds on the open market. and then he'll have the 80%.

in fact trading volume in the last 24 hours is 1,027,164 bonds.

that's roughly 10% of all outstanding bonds.

And what will YOU have ????

People: WAKU UP!!

There is NO money and there will be NO money !!
NOT now, NOT in the FUTURE !!

well that's just not true. at some point nicholas had 118,429,950 deposited at his bank.

and for every seller there's a buyer and at the moment lots of big boys are buying GPB bonds.

GPB ask price now: 0.25

up 30% in the last 40 minutes.

When will it be at 1.00; than will the people who have money in Ginko have ther money back; and only than !!

Give me 1,000,000 L$ and you will have for 100,000 L$ bonds in return and I will by the bonds for 130,000l$ !!

I made 870,000 L$ and you 30% profit ????

actually all ginko account holders are getting 1L$ bond for each 1L$ deposited.

at the moment the bonds are trading on wse at 0.18 bid / 0.25 ask.

ginko account holders are facing a loss of 75% at the moment (down from 80% about an hour ago when the ask price was 0.19).

personally I doubt whether the bonds will ever trade near 1L (and yielding only 12%) because then any potential investors are better off putting their money some place else.

but you might see something in the 0.60 - 0.70 region (for a yield of 17-20%).

I agree with you except i doubt it will even get that high, there are already stocks you could invest in with better yields that are trading below 0.5L
It will probably be in that region once every 3 months when the dividend is near but then drop back down for the rest of the time.
I wouldnt be surprised if there was a bit of price crash in 48 hours time when everyone recieves their bonds and of course Andre/Nic will have all his remaining lindens placed as buy order around 0.01L, good opportunity to make a quick L or 2 if you willing to gamble on a short term price crash (oops shouldnt have let that one out of the bag, gambling supposed to be banned, LOL).

LOL

So are the term deposits being handled any differently than the regular account? Or are all funds being liquidated and converted to bonds?

Chianamber

I think the site said all funds will be forcibly converted.

forcibly is such a harsh term.

Mandatory "Upgrade"

sounds so much more SL Politically Correct.

What i dont understand is why they only get one bond per $L

If Nic was as honest as he say he is shouldnt he give them at least 5 per $l invested, then at least it would be kind of fair to current depositors.

And whats going to happen in 3 months time when he has to pay over $3million lindens as a dividend, thats over 10000US he has to come up with in 3 months.

I guess thats just all part of the Portocarrero scheme.