May 14th 2012, 14:18 EARN Earn2Life.com
by Glaznah Gassner
EARN starts a vote, SPO proposedDear Shareholders,
As you may know, we've launched the new Second Life periodical, "SL Business Observer" on May 1st. This is a completely new project for Second Life since we publish the magazine in 6 languages, making it truly international.
The magazine has been released as a part of Earn2Life.com (EARN) company, since it is higly integrated into both Earn2Life.com and MetaBizList.com: members of Earn2Life earn money by writing articles, while business owners of MetaBizList put orders and get their business reviewed.
Developing the magazine has greatly increased assets of EARN (including rl assets like publishing software from Adobe), we've also already got a lot of amazing writers we will continue working with.
On the other side, the development of EARN was not standing still during the year: we've launched Dragons&Princesses, Lindens4Free project has been developed, and Earn2Life itself got new money-making tools and services for members.
Thus, I propose running the SPO for EARN, and start the official vote at SLCAPEX.
Feel free to ask any question and express your opinion.
== Details ==
There are few more SPO's has been announced at SLCapex recently. I was thinking about doing SPO since March when we were discussing the dividends of EARN, and I've decided to avoid decreasing dividends even taking the new magazine's expenses into account (and taking care of expenses myself).
Since that time, I was discussing SPO details of EARN with SLCapex representatives, trying to find the best and the most convenient solution for both business and shareholders.
== Calculations ==
I've checked some recent SPO announcements and I believe they lack the very important part: the explanation and calculation of the amounts proposed. Everybody love to see the financial grounds of a measures taken by the company.
We were calculating the best SPO value for EARN since the end of the March, measuring the company's assets in different way. Now I present you a sheet with the most important assets of EARN, and their valuation:
According to these numbers, the assets of EARN has increased by L$9,377,160 during the last year. This is a 75% increase, and it is a ground capital for the SPO we propose to run. I currently own 66.1% of company's shares, this seems reasonable so I would like to keep the owner's percent at the same level. Thus, I will buy out 66.1% of SPO shares myself.
This gives the following SPO values:
Total shares to create: 3,000,000
Owner Shares: 1,983,000
SPO Shares: 1,017,000
Price per share: L$3.00
Total value of SPO: L$3,051,000
== Capital usage ==
The money will be invested to development of EARN family project, especially to "SL Business Observer". As a beginning of this journey, we've just finished the website of the magazine, it will be launched tomorrow along with release of issue #02. Also, the the new kiosk is available for land owners, it pays up to L$10 per every magazine reader.
== Conclusion ==
In conclusion, all important aspects of the text written above:
EARN starts a vote on proposal to create new company's shares and run a SPO.
= Total shares to create: 3,000,000
= Owner Shares: 1,983,000
= SPO Shares: 1,017,000
= Price per share: L$3.00
= Total value of SPO: L$3,051,000
The year's increased assets financial sheet: http://goo.gl/mVJCK
The vote will be run till May 21th, everyone is welcome to ask questions in SLCapex forum
P.S. Thank you for reading! Don't miss the tomorrow's announcement of "SL Business Observer" #02 and new website, both in English, French, German, Dutch, Spanish and Portuguese!