May 14th 2012, 23:36 APT Alpha Phoenix Trading
by Cash Yiyuan
APT Status Update - Attention Shareholders & Capex CommunityDear Shareholders and the Capex Community,
MECH was the next big thing and everyone was excited and investing large sums of Linden to be part of what could have been a RPG Combat / Tournament Company. The CEO and Scripter walked out on the company and investors. Leaving behind minimal assets.
A Salvation plan was to sell and develop the full permission prims and a company named PHX, then renamed APX was formed. APX held the IP Rights to the Mech Merchandise that had been left to APX. The plan failed interest the project dwindled. At the same time another Mech project was being developed by another group. APX shares suddenly were dumped by a Major Shareholder of APX, which I quickly snapped up, making me the largest private shareholder. Then the APX Management decided that they could no longer do anything with the company.
Early January 2011 I was made Temporary CEO of APX as default due to the number of shares held. Shortly after that I took over as CEO. APX had L$50,000 and the Mech Merchandise as assets. After a short time I decided selling Mechs would not return substantial return for the existing shareholder, APX was renamed to APT and would focus on returning equity to APT shareholders. It was decided an SPO would be the best option to inject cash back into the company. SPO was not successful and only brought in L$100,000 of new investors money. Armed with L$150,000 I set out to create more equity and a regular dividend for investors.
My personal shares in the company were combined into Treasury shares. Recently I destroyed all treasury shares, including those original shares I had in APX http://slcapex.com/forums/search?data%5BSearch%5D%5Bterms%5D=APX+Cash+Yiyuan+Main+Merger+209370+
This was to give equity back to Shareholders, not myself. All my personal current shares I hold have been purchased.
Recently it was brought to my attention that an asset of APT was being sold by a former member of MECH / APX Management was selling MECH merchandise in SL and on the SL Marketplace, without the consent of APT, the rightful owner of the asset. I contacted the avatar Gumby Roffo and asked him why he was selling APT’s asset for his own benefit. I was ignored. I spoke with Skip Oceanlane regarding the matter and suggested that APT reclaims Gumby’s shares as he had stolen from investors what he confirmed in his own words that the asset was the shareholders:
I proposed a deal to resell the asset back to Gumby for a token fee, including all new artwork. This was ignored. Gumby was asked to return any Linden’s made from the Mechs, this was ignored.
The reclaimed share will be destroyed, giving shareholders a little more equity, by reducing total number of shares to just over 478,000 company shares. I have presented the case to Skip Oceanlane and CERC to decide on the matter.
Equity Mint holds 36,379 shares that have been reclaimed in accordance with Section 10 of the Rules/Exchange Executive Orders. Which I believe are ex-owner Shares, but the avatar does have the chance to reclaim.
The goal which I set out to do is almost complete.
APT has created a portfolio of worth just over L$400,000 to date.
Portfolio Growth of 166% in just over 12 months.
APT has paid shareholders just over L$179,000 in dividends in the same period as well.
It has been an uphill journey carrying the debt of former failed companies. We started with next to nothing but have created something.
I have proven that APT has the ability to prosper, my next move would be to consider another SPO – with more funds comes greater opportunities.
If you have any questions or would like to discuss this post, please feel to do so.
CEO and Majority Shareholder
APT | Alpha Phoenix Trading