WSE Quits SL; RDX Delisted
Submitted by: Redux Technologies - RDX (Trade) Â
Date: December 19, 2008
Luke recently posted an announcement that he's closing shop in SL permanently and that all SL based companies are going to be delisted. He openly and publicly stated in November that RDX is one of the best companies on his exchange, and that he would be reopening business in SL shortly. He even set up an ATM for me to pay a dividend with in late November (which unfortunately didn't work at all).
While I'm sad with the way this was handled, I simply don't know the circumstances behind Luke's sudden change of tone. I don't know whether he only just now realised that his ATM didn't work, or if his developer quit, or if he never intended to open back up in SL. Any assumptions on my behalf would be irrelevant and not based on tangible information, and plenty of people are already doing plenty of assuming with far less information than I'm personally privy to.
The fact remains that RDX will not be traded any longer on the WSE, and that Linden Dollar deposits will never be withdrawlable via an SL based ATM. Luke himself has announced this, and while I'm unhappy that this was kept as a surprise for me to find out at the same time as everyone else, I simply don't have anything negative to stay about Luke. He has run his company using his own best judgement, has placed a lot of trust in people who have turned out to be untrustworthy, and for whatever reason is not capable of honoring our deposits or continuing business in SL. As the addage goes, "you can't squeeze blood from a turnip".
This creates a problem for me however, because my company is still growing, and is doing 3-4 million lindens of business every month.
Luke has told me via IMs that I'm no longer under any obligation to the WSE, and can do as I please. This includes releasing my shareholder list, which he has previously claimed as his own property and that my use of would constitute a violation of WSE's terms and forfeiture of my account (a policy which was enacted well after my company was listed, and well after the WSE switched from being a "stock exchange" to a "bank" to a "game").
This has not caught me unprepared. I've always had a contingency plan. I came up with one before my IPO was ever listed back in March 2007. I was not willing to take on any sort of financial matter of this magnitude without planning out for every possible consequence I could think of, and the WSE closing before I'm ready to close RDX was one of the primary ones considered, and one that I've spent the most time and energy planning for. I've written scripts long ago and have infrastructure in place to pay out dividends, and I have notes and backups of all my records and announcements archived on my website that can be made available by the flip of a switch.
HOWEVER, this is not preferable to being publicly traded. A number of companies formerly on the WSE have relisted with other exchanges and been successful. I consider being publicly traded on a reliable exchange to be the superior course of action, however being listed on an unreliable exchange is not an option. I've spoken to a number of representatives and people on the various exchanges, and the only one I would feel comfortable listing with is the ISE (intlstockexchange.com). I've been communicating with the people running the exchange there since around September, and now that Luke has released my shareholder list, I'm going to formally apply to have RDX listed over there.
If approved, I'm going to be changing a LOT about my company's structure. My company no longer offers scripting services, Jess's avatars is closed, Adasyd's curio shop has detached. While my company remains profitable, it now does so in a very different fasion, which I have been loath to publicly discuss since many of my methods have been extremely successful and have not yet been adopted by my competition. Â
These changes also may or may not include elminating most or all of my own shares in RDX, and rounding everyone up to the highest number of shares I have a record of them possessing in the last 6 months. This second idea is intended to compensate for the trading and buying and selling of nonexistent or delisted companies which has worked to corrupt the accuracy of my shareholder list.
In the event the application is rejected for whatever reason, I'm going to rely on my own infrastructure for any announcements or dividends. Announcements will be made through the SL group RDX Shareholders, which is currently set to open enrollment, and thorugh posting on my website at http://slredux.com (which is currently parked at a blank landing page)
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Profits, Explained, aka 550% annualized return Â
Submitted by: Redux Technologies - RDX (Trade) Â
Date: August 11, 2008
I posted profits from December 1, 2007 to July 1, 2007 separately from the profits from July 1 to August 1, so that investors know BOTH what my company has been doing in the time the WSE has been under construction, and what it's doing right now.
As of August 1st, we've reopened the Scripting Services division of our company and are once again providing custom scripting. Since Aug 1, scripting has brought in an estimated W$140,000 ($15,000 a day roughly. Humiliating. Gimmie a break, scripting business has been closed to the public for over a year). The profit from this is being used to help offset some of the slowdown in land growth that's happened over the summer, and is not intended for long term.
As for land-growth, we've been aggressively re-investing our profits into expansion for the last year. My goal for every month is to buy more land than I did the month before. So far so good.
Based on the numbers, we appear to have grown roughly by 550% over the last 12 months time, with a time investment of less than 2-3 hours a week. Our only limiting factor is cash.
This is a rough breakdown of monthly income/expenses for the month of July 08 (our most recent month of business), to give a snapshot of what we're up to at the moment:
---EXPENSES---
Tier Paid to Linden Labs: W$2,677,125
Land Purchased from LL: W$481,250
Misc Land Expenses (moves/renames/transfers): W$123,750
TOTAL LAND EXPENSES: W$3,295,875
(USD equivalency: ~$11,985)
---INCOME---
Tier Collected: W$3,100,000
Land Sales Income: W$366,000
Misc Land Income (charges for moves/renames/transfers): W$123,750
TOTAL LAND INCOME: W$3,603,500
(USD equivalency: ~$13,103)
---PROFIT~!---
Land Gains: 7 voids (value: W$481,250)
Cash Gains: W$307,625
Total monthly profitability: W$788,875
Discussion (rant, etc)
What I'm reflecting here is nearly a million lindens of profit returned on what is entirely a passive investment. Maintaining the land business results in less than 2-3 hours of work a week, and most of it is between me & my bank, and isn't increasing as the number of sims increases. It doesn't take any longer to sell 1 million L$ than it did to sell 100,000 L$
To put it bluntly, we have 5.5 times as much land as we did this time last year. What this means is that the profit from the land sector of our business has increased by 550% in 1 years time. Furthermore, even if we increase our business demands ten-fold, the land business would still be little more than a part-time job for me that's bringing in W$7 million of PROFIT per month. I don't need employees, I'm working directly with other land barons & investors who don't WANT me to be involved micro-managing the sims.
I have no immediate plans for a dividend, and here's why: If I had been putting all the profit from the land business into dividends, right now we would still have 4 sims, which would still be contributing, at best, W$100,000 to the monthly dividend. W$100,000 a month for 12 months is W$1.2 million paid in dividends over the year. Pretty good for what was originally a W$4 million IPO, by pretty much any standards.
If I decide to do no expansion at all this month, the monthly profit from the land sector alone would be W$550,000. If I continue to not expand, I can continue to pay $550,000 a month indefinitely. Six months from now, these dividends could potentially add up to W$3.3 million, which is almost a 100% return on the original IPO, and I could continue paying out $550,000 a month forever.
What I'm doing is intelligently re-investing the companies money with what has thus far shown itself to be a roughly 550% annualized return. If I can duplicate this for one more year, then this time next year RDX will be sitting on 200 sims & be pulling a monthly profit of 3 million.
I've heard some fussing about not paying dividends over the last year. I can't begin to tell you how many times I've gotten an IM that's sounded something like "Y R U NOT DIVIDEND? XYZ corp is paying 3 dividends a day, and selling even MORE shares in a secondary offer so he can deposit it in his magical bank that pays 2% daily interest compounded every eleven seconds, so he can pay an even BIGGER dividend next month! I'm investing all my money in HIS company!!!11one". If this is your investment strategy, please don't buy RDX or IM me, I'm running a company, and I'm getting really tired of explaining the difference between a company and a Ponzi Scheme to people who can barely manage to type out a coherent sentence.
Where is that CEO now? Where is his company? How much did you make off of THAT investment, hmm? If you look under your portfolio, you'll see it come up as "WTF", and right now it's worth W$0.03 per share. -97% annual return on your investment. "Oops", huh? In the meantime, I've managed 550% annual expansion by reinvesting my profits and not paying dividends. Â
RDX owns 45 sims. They're in SL, you can go look at them. They're full of people. Something like that can't be faked, or exaggerated, or come out of a magical slot-machine bank. It has a tangible value, and can be resold if necessary. We were one of the first listed on the WSE, and we're still here, and still expanding.
It's well known that's 90% of new businesses fail. RDX has succeeded, and the newly opened WSE has yet to reflect this in the share price of RDX. Need I say more?
29 full sims.
13 void sims.
0 vacancies.
Redux Dengaku
Redux Tech CEO
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Explosive Growth & New Beginnings
Submitted by: Redux Technologies - RDX (Trade) Â
Date: August 07, 2008
Febuary 2006... Feels like it was a hundred years ago... I had JUST finished moving to Atlanta, a move which had utterly destroyed my previous company. The move was unexpected. There was no time for a "moving sale", or any sort of "liquidation". Most of my inventory wound up in cardboard boxes on the sidewalk. After spending nearly 4 years struggling to get my business going, I had somehow managed to destroy about 40,000 dollars of cash and merchandise in less than 3 months and literally had nothing to show for it.
I *HAD* to start a new business.
The only catch; I needed a business I could get into with no cash up-front, and I was not about to pour my heart into a business that wasn't 100% portable. I spent 6 months poking around & hoping from boring job to boring job, trying to figure out what I could do. This was when I discovered SL.
August, 2006, I literally ripped into SL like a tornado. With no money to purchase land, and a computer that was nearly 7 years old, I started a scripting business set up in the corner of some guys shop on a 512sqm parcel, which hadn't seen a customer in weeks.
By December 2006, a mere 4 months later, I was bringing in an average of 75,000-100,000 L$ a week, and was shopping for a quarter-sim. My name had passed by word of mouth all over SL, and some big names & big spenders had traveled to my tiny little shop in the hopes that I could breathe life into their craziest ideas. I was doing work for literally everyone. Even Luke's idea for a virtual stock market (known today as the WSE) was one of these people that I had the distinct pleasure of working for.
By Febuary of 2007, my weekly profits were exceeding 200,000 L$ per week off scripting alone, which was when someone from the WSE approached me and suggested I list my company.
My goal has never been to stay in scripting exclusively, but to take advantage of every possible opportunity to draw profit from the most lucrative aspects of virtual worlds. Scripting was good, but I needed to branch out just in case scripting ever stopped being profitable. I needed employees, residual profits, more advertising, and bigger contracts from bigger names. The WSE provided me with just the opportunity I needed to rapidly catapult RDX to the top.
Upon being listed, my IPO cleared in around 7 days, bringing in a little over 4.1 million lindens. We purchased a block of 4 sims, hired some managers, did some advertising, and I got my hands on a new laptop to replace my dying desktop computer that was fast on it's way to becoming a decade old.
I've turned my dealings in SL into a real business. I'm not just some guy screwing around on his computer and making a few bucks a week.
In the 16 months since being listed on the WSE I've done work for Cisco and IBM, built 2 of the most popular sims in SL, flown to Japan to meet with clients, flown all over the US meeting with employees, done teleconferences with executives & CEOs of dozens of real world companies interested in getting into SL, done live "virtual" presentations to packed auditoriums, had some of my work featured in a museum in Brooklyn, helped dozens of people in SL start successful businesses, and purchased several dozen sims from Linden Labs.
Things in SL have changed a lot in the last 2 years. With these changes, certain opportunities have come and gone, and RDX has been quick to move with them. When something in SL changes or stops being profitable, 95% of the people in that field die or find their businesses crippled, and sit around waiting for it to pick back up again, but RDX has always managed to shift its focus & keep up with the trends, and most importantly, remain profitable. Â
The strength of RDX is in it's ability to shift focus in the blink of an eye to counteract the natural ebb and flow of business in SL. No matter what you do, there are going to be hiccups, crashes, and slow periods. RDX is virtually immune to these, and has a hand in nearly every aspect of SL's economy. The massive land crash back in April which sent nearly every land baron in SL packing, and the following 3 months of dead time known as "summer slump" have proven fatal for a number of businesses and land barons, and have affected nearly everyone, but was barely a blip on RDX's radar. RDX has an incredible momentum, cash flow, and is expanding like crazy.
I've always believed in residual profits and the snowball effect. The best product is not just one that sells itself, but one that continues to sell itself month after month without any extra work. My initial goal was to double the number of sims we owned every 9 months. Listing RDX on the WSE in March 2007, my intent was to reach 8 sims by December 2007, 16 sims by Aug/Sept 2008, and 32 by Summer 2009.
As of this writing, RDX *owns* 33 sims, and is more than a year ahead of schedule. Â
Now I want it noted, I'm not counting void sims, as many egotistical land barons are quick to do, as "one sim", and when I say I own a sim, it doesn't mean I'm renting a sim from someone else & subletting land on it. I *OWN* 33 sims. This month I paid $9,735 dollars directly to Linden Labs for tier alone, not including new sim purchases.
Since I started SL, it seems like everything I've touched has turned to gold. I've made dozens of people rich, and made a lot for myself in the process. I couldn't even begin to add up all the times someone has come into SL with an idea and a couple bucks, hired me to bring their ideas to life, and wound up making a fortune & catapulting themselves into running an incredibly successful business.
Likewise, many of my investors have been able to monopolize on the sporadic surges of frantic investing in my company. I'm not flashy. You probably won't see me prancing around the floor of the WSE handing out business cards and talking to people. I don't have time for that... I'm far too busy making money.
The numbers speak for themselves; RDX has 100 million shares, and has, to my knowledge, never been below its IPO price of 1 L$ per share. On the contrary, it seems to bounce back & forth between 1 and 10 L$ per share as people gradually forget & then suddenly remember that RDX exists. Despite the frantic hype that seems to come & go, RDX is here to stay, and as long as I have a house payment and a massive ego, I'm going to continue to bust my ass to make this company as profitable as possible.
So stay tuned & keep an eye on RDX. We've been growing & expanding much more rapidly than I could have even imagined, and RDX shows no signs of slowing down.
~<3 Â
Redux Dengaku
CEO
Redux Technologies
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Redux: Rapidly Expanding
Submitted by: Redux Technologies - RDX (Trade) Â
Date: December 14, 2007
I wanted to apologize for the relative black-box that RDX has been operating in the last few weeks, so I wanted to attempt to present the information in a more concise manner ^_^
1. I'm doing scripting work I'm not supposed to talk about for RL companies.
2. I'm designing internal stuff for RDX that's top-secret and I'm not ready to reveal.
3. I don't take scripting work in SL anymore; I take jobs from corporations that pay me via bank-wire & provide me accounts to log into & script from. As a result I'm not on my main account much.
4. My LindeX limits are perpetually ZEROS across the board. I haven't been able to buy lindens in like 2 weeks.
5. I devised a land strategy in like June/July & implemented it in August that involves selling sims at an initial loss & resulting in high monthly profits & minimal management after 3-6 months making up the loss. Suffice to say I've had to think up like 20 sim names in the last 3 months and won't be breaking even on those sims until March (hence the negative numbers right now)
6. I've been kind of depressed. It happens. It's winter. It's cold. I can't go out at night any more & run around, and I miss laying around in the sun. This doesn't affect my ability to work, but i've been considerably less social than usual.
7. BUSY~! The holidays are busy! Family comes to visit! My grandparents were here for like 9 days back in Thanksgiving. They got my room; I slept in the living room. There's presents to buy, people to talk to, my Mom's birthday was yesterday & dad's is right after Xmas. SO MUCH TO DO.
8. I'm working on long term business agreements that necessitate me flying around (on actual airplanes not with the F key). Between now and the end of February i'll have flown to New York City, Seattle, and Louisville KY on the RDX credit card (yes, we have an RDX credit card, it says Redux Tech on the top above my name ^_^). While I'm out of state, not a lot of work gets done, and it usually takes me a few days to get caught up on stuff when i get back.
9. I'm looking into buying a house in Florida or California to take advantage of the weak housing market. This is a time loss for me.
10. We lost Jess. Jess moved from avatar design back in May and became my best (also, pretty much only) builder for corporate contracts. I've been investing a lot of time searching for a suitable replacement. No applications please ^_^
11. I'm looking into hiring an accountant that I can trust to do all my numbers for me (it's a LOT of numbers), but no luck yet. Until then I can only estimate profits/losses since it can take upwards of 3-4 days per month to do proper accounting. Frankly I'd rather spend this time expanding.
All in all, we're emerging from the cocoon of being a "large SL business" and becoming a "small RL business". This is a pretty big change & eats a lot of time & money.
MONEY. RDX isn't making any MONEY right now, and for good reason: as soon as I get my hands on a few bucks I buy a sim. Our equity is growing like crazy, but there's simply not cash flowing into our coffers like there was before we started expanding. Instead of pooling up money, we're paying it out as fast as possible to expand our infrastructure.
SO WHAT THIS ALL MEANS...
My current goal is that by this time next year I'll have secured long term agreements & be billing 5-10k US per month on design, on top of running about 60 sims at a profit of 100-200 US per month. If you do the math out, basically I'm gunning for about 15K US profit per month by around this time next year (thats a little over 4 million per month profit in Lindens, a consistant 0.04L$/share monthly dividend). Â
This is going to take some time to get to, but we're well on our way. I just need to shake about 6 more hands and triple my current number of sims.
~<3 redux, CEO & stuff
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THIS PIE IS TOO SMALL! >=O (also, financials)
Submitted by: Redux Technologies - RDX (Trade) Â
Date: December 03, 2007
I'm pleased to report that we've added another 5 sims to our infrastructure last month (November), all of which are already full, bringing us from 11 to 16. This puts our land expenses just under USD$5,000 per month, and income is a bit over USD$6,000, resulting in a profit of $1,300 per month from land alone. This would be great news, except the overwhelming land demand is forcing me to expand at a rate that my monthly profits, and moreover the LindeX & credit limits, can't compensate for.
So here's the issue(s)
1) The LindeX can not keep up with my current demand
2) This has caused my Executive Currency Cashout Service to grind to a halt
3) I can't continue profitably trading lindens across markets (SLX/LindeX/Etc)
4) My credit card company can not afford me the long term liquidity I require in order to keep things in SL running at full speed.
5) There's too much money coming & going and I simply can't keep track of it all any more
I guess to put it bluntly, I'm about sick of scripting (mostly all the BS that goes with it) and I've seen the potential to make a LOT more money using my expertise & what I've learned in SL to do business to business work. I've already designed everything there is to make in SL five times over (seriously like 3 of the 5 most popular *fill in the blank*'s in SL are something I made), and no matter how hard I work, no matter how many unreliable people I hire & fire, no matter how many subcontractors I chew up & spit out, I simply can't break USD$7,000 per month. I love my clients & employees & everyone i've worked with, but there's a much bigger pond with much bigger fish and a lot more open space, and I need to stretch my fins.
I had initially thought my IPO would afford me the ability to hire new talent & ramp up production, but it turns out that I actually spend very little time actually scripting compared to all the talking, negotiating, paperwork, and consulting crap that I simply can't outsource. This also happens to be the most stressful part. I LOVE scripting and I run a scripting business, but paradoxically, I'm so busy scripting that I never have time to script any more. Furthermore, in the time it takes me to explain what I need to an employee & double check the work, I've found I can do it much faster myself & the quality is higher. Scripting simply is not scaling up.
This brings us to Redux's First Law of Business: A business that doesn't scale up scales down.
As far as scripting goes, I'm getting into an exclusive deal with a Manhattan NYC based development group that's willing to pay me to work for them and only them and nobody else. When you factor in all the time I waste consulting & helping people plan ideas that they don't go through with, having a fixed "do this for X dollars, see you next Friday" note dropped on my desk every week is exponentially more profitable on a per-hour basis & frees up a lot of time to explore other avenues of profit that I've found to be surprisingly lucrative over the last 6 months.
What this all sums up to is that RDX is going to be doing a major shift in our business focus. By this time next year I fully expect that I can be making twice what I am now by spending only 10% of the time. Â
Heres the snag. This shift isn't going to happen overnight. I applied for an Amex business card last night; I have 19,000 credit with B of A and about 7,000 credit with WellsFargo that i'm running my business through, and even though I fully max BOTH cards & pay them off in full each month, I can't get enough liquidity to run my business the way I want to. I'm at the point where I'm about ready to pay a premium to have other people buy islands for me & then transfer them to me because the LindeX doesn't want to play ball. By this time next year, if things go well, I plan to be applying for a Black Card & we can laugh about all this.
In order for this shift to happen, I need to develop software & habits that allow me to thrive with this new approach to business. My land rental system needs to be rewritten. I'm going to be designing bots that place orders on the LindeX for me to automate the buying/selling process at the push of a button, & designing a system that allows my executive clients to exchange money without me having to talk to them & log into Paypal to send them money. Â
I need my own currency exchange market. Also, due to the incredible volume of money thats going in and out of multiple accounts, sooner or later I'm going to need to create a "bank" for my own personal use so I can keep track of how much i have and where my money is. At this moment there is so much money in transit & tied up in land, that I honestly couldn't even guess within USD$5,000 how much money I actually have. It feels like I'm living in a money tornado.
I mentioned making a bank; I want to clarify, this is NOT going to be a general use bank. Noob avatars are NOT welcome to deposit 20 lindens into this bank. This is going to be a bank for corporate use only, specifically mine, and minimum balance is going to be L$250,000. I may invite specific individuals to use my banking services to cash money in and out of SL & store their money if they see fit to contribute to the currency exchange market I'm planning on developing. When I set this up, this not going to be one of the many stupid Ponzi banks. Nothing personal against many of the other banks that have folded up in the last 2 months, but I think we can all agree that most SL banks are Ponzi schemes and have proven themselves to be a total failure.
I'm going to continue picking up the share float out of my own pocket because I know that in the long run this is going to be lucrative, and frankly, if I have to pull a few thousand bucks out of my pocket in order to keep my shareholders happy while this is taking place, I'm happy to do so. I know not everyone is going to see things my way. To people who price their shares based on their monthly dividends only, I don't want you to feel trapped in my company. If you don't like my plan, sell me your shares. I'm not going to answer any more "i did the maths, your dividend means your shares should be worth X" IMs. If you're missing banks so badly that you want to become a speculative trader on the WSE, don't buy shares of my company, thats not what they're there for. If you want to get a hold of shares of my company while they can still be bought and sold without having to take a second mortgage on your house.
So anyway, tiz' season after all, here's my wish list:
1) Enterprise Level 3 or 4 LindeX Limits
2) My own private bank that tracks money in & out
3) My own currency exchange market
4) A new rental system
5) 2 or 3 fresh worker drones for the hive
6) A credit card with a 50,000 US credit limit
7) A trip out of the country. Italy, Japan, or Brazil.
8) A full night of sleep
9) A hug
10) Super Mario Galaxy for the Wii
Bottom line: I'm tired of eating half a pie every month. I'm referring to market share when I use the term pie. I'm not happy with half a pie. I'm not even happy with the whole pie. I want all of my pie, and a piece of everyone else's pie. Why can't I have FIVE pies?! In fact... BRING ME THE HEAD OF MARIE CALENDAR! >=O
~<3 redux
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Change In Dividend Policy
Submitted by: Redux Technologies - RDX (Trade)
Date: November 04, 2007
I'm rather proud of the fact that RDX has always traded well above it's IPO price, but recently due to the economic turmoil in SL which contributed to -and was worsened by- the crash of two of SL's largest banks, outlawing of casinos, and introduction of VAT resulting in higher fees for many land owners, a number of our shareholders have been pulling their money out of SL entirely, or selling shares in order to cover tier fees. This has resulted in low volume and low share prices. Â
As a 2 step process, RDX is going to be buying up the share float with proceeds that would otherwise be going toward the dividend, and reducing the number of shares able to recieve dividends from 100 million shares to 4 million shares. When share price stabilizes, we will be dividing the company into 2 classes of shares, 4 million class-A (your shares) which will receive dividends, and 96 million class-B (my shares) which will not receive dividends.
To understand better what this means, here is a possible scenario:
OLD SYSTEM:
Lets say RDX profits L$2,000,000 some month (about average).
100% of that (L$2,000,000) is paid as a dividend.
96% of that (L$1,940,000) goes back to my pocket (not the company)
4% of that (L$80,000) goes to shareholders.
There are 4,000,000 shareholder shares recieveing L$80,000 total.
End result is 0.02 Lindens per share & the company keeps nothing with which to expand.
NEW SYSTEM:
Pretend RDX profits L$2,000,000 some month (about average).
6% of that (L$120,000) is paid as a dividend
100% of that (L$120,000) goes to shareholders.
There are only 3,000,000 shareholder shares (due to buy backs) recieving L$120,000 total.
End result is 0.04 Lindens per share & the company is able to reinvest whatever is left to promote future profits, effectively doubling the dividend and allowing the remaining money to stay inside the company & help growth and development.
CONCLUSION:
The new dividend system will allow us to more easily distribute a larger number of lindens across a smaller number of shares, will raise share price directly through buybacks and indirectly through increased dividend per share, as well as freeing up funds to promote company growth.
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September Financials & Dividend Info
Submitted by: Redux Technologies - RDX (Trade) Â
Date: October 04, 2007
The last few months have seen some phenomenal profits, with over 10 million lindens paid out as dividends, and the purchase of 10 sims (6 full 4 void) to add to our original 4.
Things have been so busy that the little irritations & problems that come with running a business have had a chance to compound and were beginning to result in a situation where i literally was fixing the same issues over and over again and had no time to get anything done.
As an example of this, the rental system we've been using breaks about once a week and has to be manually reset (takes about 6 hours). Also, sometimes it freezes, which means that days or even weeks can go buy and someone is basically getting free rent.
Despite all these little issues, we've still managed to be tremendously profitable. After spending this month fixing all these little issues, we're poised to really take off as a company.
One major issue I've been dealing with is that my account history has been totally swamped. With a combination of product income, scripting income, and the land business, it becomes almost impossible to figure out if someone has paid me or not. Looking at the last 500 transactions only carries me back 1-4 days in many cases. So when someone says they paid for something "about 2 weeks ago", it's almost impossible for me to figure out if they're remembering correctly.
In order to remedy this situation, all of my sims have been moved to a second account for land management. This will allow the financials to be much more orderly, and will make it a lot easier for me to deal with people when they argue about when they paid their tier, so i wont give as much money away giving people the benefit of the doubt. The cost of this transaction was 800 US dollars (220,000 lindens), and is definitely well worth it in the time & frustration it's going to save.
My sims are manifested as 6 islands that are split residential & commercial, and a block of 4 double prim heavy commercial sims. The 4 commercial sims have been, for lack of a better word, doing terribly over the last 2 months. Aside from having 5 casinos on my land that shut down, 3 of my renters had all their money in Ginko, and a number (6 maybe?) of them simply weren't able to make it through the summer business lull or left SL for personal reasons.
My 4 commercial sims went from about 80% occupancy and a profit of 125,000 lindens per month to 30% occupancy and a LOSS of about 250,000 lindens per month, which, coupled with my land buyback guarantee, resulted in almost half a million lindens of loss for the month. Land buybacks are a 2 edged sword, because while they are technically short term losses, it allows me to acquire land at a very good rate (75% of the original sale price), which is realized as profit when the land is resold.
In order to take care of these 4 commercial sims, 2 of the sims were wiped clean and the renters moved to my other sims. These 2 empty sims were renamed, switched from double prim to single prim, and moved into the island network, where they have been filling up very quickly (1 of them is totally full already and one is half full).
As a final note, the desktop computer I've been working from has experienced a total processor/motherboard meltdown, and I purchased a second hand laptop to replace it.
---The Numbers---
Total Scripting Income: 860,000
Total Land Income: 777,485
Total Building Income: 135,000
Product Income: 15,000
Total In: 1,787,485
Renaming & Moving 2 sims: 82,500
Transferring 10 sims to new account: 137,500
Purchase of 4 new Void Sims: 460,625
Replacement Laptop: 214,500
Tier on 10 sims: 811,250
Land Buybacks: 240,000
Total Out: 1,706,375
Net Loss: 158,900
--------------------------------------
My scripting business is poised to reach new heights. A huge presentation that was given late September has brought in contracts & interest from several Fortune 500 companies. This is great, and has resulted in several large contracts with steady work, but in the meantime there is a lot of paperwork and legal proceedings while I'm getting everything set up.
I'm very happy about all the issues that were fixed up this month, and I'm optimistic about some of the large contracts I'm working on. Furthermore, now that all the gunk has been cleared out of my land business, things are in place for my islands to start seriously contributing to monthly financials.
=====
Aug Income Report
Submitted by: Redux Technologies - RDX (Trade) Â
Date: September 07, 2007
The following is a breakdown for earnings in Aug. For those not interested in numbers, skip down to the bottom where all the words are ;)
+++++INCOME+++++
----Scripting----
Final Payments from July: 500,000
August Jobs Completed: 250,000
Down Payments for September Jobs: 500,000
Total Scripting Income: 1,350,000
----Building----
Product Income: 54,000
Outsourced Building: 27,500
Total Building Income: 81,500
------Land------
Island Land Sales: 270,000
Island Tier Collected: 577,600
Commercial Land Sales: 0
Commercial Tier Collected: 376,750
Total Land Income: 1,224,350
------Misc------
Misc: 9,568
TOTAL IN: 2,665,418
+++++Expenses+++++
------Land------
Buybacks: 275,000
Monthly Tier: 811,250
Total Land Expense: 1,086,250
TOTAL OUT: 1,086,250
+++++July Profit+++++
$1,579,168
+++++ASSETS & LIABILITIES+++++
Debtors Â
NONE
Assets
10 sims + infrastructure: appx 5,000,000
Liquid Assets: 5,179,168
Physical Assets: 900,000
Total: 11,097,168
Total Assets minus debits: 11,097,168
Planned Dividend: 1,579,168
Net Assets Remaining: 9,500,0000
+++++IPO To Date Accounting+++++
Liquidity Provided From IPO: appx 4.1 Mil Â
Liquid Cash PRE-IPO: 400,000
Net asset growth (since IPO): 5,000,000
+++++Historical Dividends+++++
Mar Dividend: 1,495,070
Apr Dividend: 1,644,609
May Dividend: 1,360,289
June Dividend: 2,348,475
July Dividend: 2,183,375
Aug Dividend: 1,579,168
TOTAL PAID OUT IN DIVIDENDS: 10,610,916
-Note, NET ASSET GROWTH only counts as money which is staying inside the company. Â
-Dividends paid out are NOT counted as assets.
-Land sold and subsequently abandoned contributes to "assets"
+++++INVESTORS RECAP+++++
The last few months have been somewhat unusual for me, so I'm going to try to sum up what has been going on. In short, I'm mostly dealing with two big jobs that I've been working on for the last 2 months and which are due to be completed in September.
In June I was contracted to design Competition Island. At about 95% completion my client came under the sudden need to have Money Island redone & started work on a third island. In August, another large client paid me upfront to get started on a large scale project that would be due Mid september. Due to the size of these projects, I actually didn't start & complete very many projects in August. I received a final payment from the June job that I finished in July in August, and I received several down payments for multiple jobs that are due for completion in September. These 2 large projects have allowed me to spend much less time listening to project requests and consulting new clients, and much more time working, which has allowed me to bring in a more consistent income.
On the downside, I've been forced to turn down almost all job requests for the last 3 months. I'm simply too busy working on these big projects and don't have any time for anything else. My hope is that these larger projects will lead to more large projects, which would be beneficial to me in the long run, but a lot of my smaller more consistent clients have been lost or set aside for me to handle the larger jobs.
Another thing that's been happening, for whatever reason, it appears that land sales on my commercial areas have come grinding to a halt and actually begun to back pedal. A number of people running businesses on my sims have experienced a sudden drop in business this summer and have been unable to afford their tier/rent. Looking at the current state of SL, I suspect that there are several reasons this has happened. Â
First of all, Linden Labs has made it much more complicated to buy small quantities of Linden Dollars. A lot of small businesses are driven by purchases that range from 50-500 Lindens. Now, instead of simply being able to click the L$ in the top right and buy however many lindens you need, you must visit the website, find the "Increase Your Credit" link which is somewhat buried, then add a minimum of 25 USD to your account with which to buy lindens. This, combined with the Ginko bust, has caused a few of the people on my commercial land to suddenly have no money and low income, resulting in their inability to remain open despite my offers to give a week or two amnesty while they recoup their businesses. Furthermore, the sudden surge of Mainland additions by Linden Labs which has driven mainland prices from 9.5/sqm to 5.9/sqm has made it much harder to sell land on private islands. The tier rates on mainland are much lower than on private islands (up to 1024sqm free and 195 for a whole sim; I obviously can't compete with that), so in the past one of the biggest advantages of private islands is that the sale prices are much lower upfront. However, now in order to simply MATCH mainland prices you would now lose 300 dollars turning over a sim.
In order to try to offset this, I've begun aggressively pricing the remaining available land so that I can begin bringing in monthly income on the lots, and will be holding off on expanding until I feel the market is a little more favorable.
<3 Redux
=====
Aug Dividend Posted; Accounting This Week
Submitted by: Redux Technologies - RDX (Trade) Â
Date: September 03, 2007
The dividend this month was a little late. I was out of the country from August 23rd until earlier today (Sept 2nd). I was *supposed* to have internet access, however, apparently "webpages" weren't included in their definition of "internet access", so I wasn't able to get a lot done.
August has been a very busy month. I'm still doing a lot of work finishing up on projects from July (and one from June). I plan to have a few big projects finished within the next 2 weeks, and a company based in New York is talking about flying me out for a few days to meet with their CEO about what may be a highly lucrative SL opportunity.
I'm planning to have full accounting of August done by Friday.
Just for those that are curious, "accounting" is a tremendous nightmare. I've been providing it in as much detail as possible since the company started, but this may not be able to continue indefinately. Just to put things in perspective, when looking at account history, 500 transactions only carries me back about 4 days. When i print out and do financials, it's very easy to run upwards of around 100 pages of numbers for the month (each month is worse than paying taxes; it costs me almost 2 full days).
It's very easy to tell how much i made in profit, but it's much more difficult to account for every linden that comes in and goes out.
As long as it remains feasable I will continue to give a detailed breakdown of everything, but in the future the accounting may become considerably more limited in scope.
I spend all month sweating the details; at the end of the month however I'm mostly concerned with the BIG numbers! Â
<3 redux
=====
Redux NE Sim Now Vacant!
Submitted by: Redux Technologies - RDX (Trade) Â
Date: August 21, 2007
We have an entire sim (Redux NE) that we've opened up and converted from Double Prim to Single Prim. We've replaced the ugly rental boxes with some nice mail boxes and given all the parcels street addresses (4 N Redux Lane, for example). Our rates are comparative to regular single prim land, but we have a 15% prim bonus and roads (so for example, a 4096 parcel gets 1074 prims on Redux NE rather than 936 that you find most everywher else).
The motive behind this: since opening there has been a lot of demand for single prim land, and just this week 5 of our renters moved away from the Redux sims, and several of our renters are now over 1 month delinquint on payments. Their reasons are varied, from "i'm going back to school" to "i bought my own sim!".
With this recent influx of open land, we're going to be restructuring a bit, mostly to reduce the amount of time and energy required to keep these sims running. The way things are, it would be MORE profitable for me to just let all four of these sims sit empty and focus my time on scripting. They've been profitable, but the amount of time an energy each one requires is like ten times that of our new sims, and the montly profit is the same on a per-sim basis.
RDX currently has owership of 10 sims. Our style caters to light home/business/office areas with varied themes and styles. Our newest sim, Kohr Ah, arrived less than a week ago and was half full before you could even find it on the map. We're buying a sim every week, and they're filling up faster than I can order them.
Our goal is to reach 32 sims by December. This should provide an additional 50% profit to our current working profits.
~<3 Redux
=====
July Dividend & Tri-Annual Recap
Submitted by: Redux Technologies - RDX (Trade) Â
Date: August 02, 2007
The following is a breakdown for earnings in July, followed by discussion and a tri-annual (4 month) review. For those not interested in numbers, skip down to the bottom where all the words are ;)
+++++INCOME+++++
----Scripting----
Scripting Jobs REQ
Final Payments from June: 66,000
July Jobs Completed: 1,870,000
Down Payments for August Jobs: 0
Total Scripting Income: 1,936,000
----Building----
Product Income: 185,000
Outsourced Building: 82,500
Total Building Income: 267,500
------Land------
Land Sales: 1,500,000
Tier Collected: 832,500
Total Land Income: 2,332,500
TOTAL IN: 4,536,000
+++++Expenses+++++
------Land------
Sims Purchased: 1,728,125
Monthly Tier: 324,500
Total Land Expense: 2,052,625
Classified Ads: 0,000 (cancelled)
Physical Infrastructure: 300,000
TOTAL OUT: 2,352,625
+++++July Profit+++++
2,183,375
+++++ASSETS & LIABILITIES+++++
ÂDebtors
Remaining land expense for June: 500,000
Remaining Physical Infrastructure: 0,000
Assets
9 sims + infrastructure: appx 4,500,000
Liquid Assets: 6,683,375
Physical Assets: 900,000
Total: 12,083,375
Total Assets minus debits: 11,683,375
Planned Dividend: 2,183,375
Net Assets Remaining: 9,400,0000
+++++IPO To Date Accounting+++++
Liquidity Provided From IPO: appx 4.1 Mil Â
Liquid Cash PRE-IPO: 400,000 Â
Net asset growth (since IPO): 4,900,000
+++++Historical Dividends+++++
Mar Dividend: 1,495,070
Apr Dividend: 1,644,609
May Dividend: 1,360,289
June Dividend: 2,348,475
July Dividend: 2,183,375
TOTAL PAID OUT IN DIVIDENDS: 9,031,748
-Note, NET ASSET GROWTH only counts as money which is staying inside the company. Â
-Dividends paid out are NOT counted as assets.
-Land sold and subsequently abandoned contributes to "assets"
+++++INVESTORS RECAP+++++
To those who bought in with my IPO, CONGRATULATIONS on investing with what has been, for many, one of the most profitable investments in SL!
From the last 5 months you have recieved a 9% return on your investment in the form of dividends alone. The stock has never been below it's IPO price for more than 24 hours, and has steadily climbed every month about L$0.64 (thats over 0.02 per day. try getting that from a bank that actually lets you make a withdrawl)
To those who had open buy orders approximately 2 months ago, all of your orderes were cleared in a single market buy that pushed the price up to 1,000 per share. One lucky individual sold 426 shares at 1,000 per share, netting 426,000 lindens on a 426 linden investment. Thats 99,900% percent profit.
Business has been picking up a lot, but moreover I've been working with some large RL companies. Last weekend I worked with a company to do a live presentation for GSTV, and I'm currently working on a sim called Competition Island, which is being commissioned by the same person who runs Money Island (the #1 most popular place in SL on any given day).
It's become a running joke among a lot of people that I never sleep. And I don't. And that's bad. I've been putting in anywhere from 95 to 120 hours of work a week, and if I keep going like this without taking a break, I'm going to destroy myself. So... i'm going on a cruise to Mexico! Â
I'm going to be out of town from Aug 23rd until Sept 3rd (10 days). I will have my laptop for part of that time, but I'm going to have to close up shop before I leave, then open it back up when I get back. Because of this, August's dividend isn't going to be paid until about Sept 5th, and is going to be considerably lower than it has been. I'm going to be taking this opportunity to tie up some loose ends, clean up my land investments, redo my rental system, and work on helping develop Jess & Adasyd's businesses. (also clean up this filthy apartment and maybe get some sleep, finally).
Our land business has been doing great. I did all the financials for my land yesterday (took about 4 hours). My original 4 sims profited a little over 400 dollars (which is great considering I have almost half a sim that the company uses and quite a few empty parcels and past due renters who are promising to get caught up this month). I have purchased an additional FIVE SIMS this month, which are almost entirely full, and am going to be ordering another one today. Hopefully will be up to 16 by the end of August.
My sims are structured to profit 100 per month on average. At the rate I'm going I could realistically be profiting 2,000 - 3,000 US (about 550,000 to 825,000 Lindens) per month from land alone by the end of the year.
<3 Redux Â
=====
4 sims purchased, 4 sims full
Submitted by: Redux Technologies - RDX (Trade) Â
Date: July 19, 2007
We bought 4 more sims last week and they're already full. Our 9th one should have been here today, but LL seems to be running behind this week.
The 4 sims we've recently purchased will be adding an additional 125,000 lindens to our monthly profit. We're planning on doing some experimenting with void sims in the near future.
July, much like June, is promising to be a big month. We've already brought in almost 2 million lindens total this month and it's only the 19th.
Stay tuned for any further updates
~<3 Redux
=====
June Earnings Report
Submitted by: Redux Technologies - RDX (Trade) Â
Date: June 30, 2007
The following is a breakdown for earnings in June, followed by discussion.
Income Â
Scripting Jobs REQ
Final Payments from April: 541,000
April Jobs Completed: 1,005,000
Down Payments for May Jobs: 1,100,000
Scripting Lessons: 0,000
Outsourced Scripting: 290,000
Total Scripting Income: 2,936,000
Etc
Product Income: 75,000
Land Sales: 130,500
Tier Collected: 420,750
Total Etc Income: 626,520
Misc: 3,644
TOTAL IN: 3,565,894
Expenses Â
Payment toward land purchase: 460,625
Monthly Land Tier: 324,500
Classified Ads: 30,000
Physical Infrastructure: 300,000
TOTAL OUT: 1,115,125
May PROFIT
2,450,769
Debtors Â
Remaining land expense for June: 0
Remaining Physical Infrastructure: 300,000
Current Assets (pre-dividend)
5 sims + infrastructure: appx 2700000
Liquid Assets: 6,950,769
Total: 9,650,769
Debits Â
Total: 300,000
Total Assets minus debits: 9,350,769
Planned Dividend: 2,450,769
Net Assets Remaining: 6,900,0000
Original IPO Balance: appx 4.1 Mil Â
Original cash on hand: 400,000 Â
Net asset growth (since IPO): 2,500,000
-Note, NET ASSET GROWTH only counts as money which is staying inside the company. Â
-Dividends paid out are NOT counted as assets.
-Land sold and subsequently abandoned contributes to "assets"
_____DISCUSSION____
We've spent the last 3 days planning out ways to expand our product income. It's beginning to slowly pick up but still has a lot of potential.
A lot of the profitability for June is due to one particularly large job that we have a NDA for and as such I can't discuss in much depth.
This last month has kept me insanely busy. Those of you who have me on your friends list have probably noticed that i'm basically online working about 18 hours a day. I would estimate that I worked over 450 hours in June, and am probably putting in about 110 hours a week.
I'm trying to find a way that I can take on 2-3 scripters to help me deal with the work load, but thus far I haven't found anyone whose work quality is satisfactory, timely, and consistant, so as usual I'm pretty much working by myself on the scripting work.
I've set up a partnership for future jobs with someone, but thus far nothing has been appropriate to allow me to utilize this. I'm hoping that this persons expertise with web and database design will allow me to tackle some of the larger jobs that come my way and i end up passing on due to my own lack of experience with database and website design.
July's looking to be a big month! I'm booked solid until about the 10th of July. If only I could find a way to stop needing food and sleep, I could probably put in even more time! If someone in the Atlanta area wants to stop by and take care of my dishes, it would be a big help! ;)
<3 Redux
=====
Big Month, Big Names, Big Numbers!
Submitted by: Redux Technologies - RDX (Trade) Â
Date: June 29, 2007
This month has been completely out of control, I haven't slept since May!
We just had our fifth sim delivered and it's already 25% full, and someone is looking into buying half of the sim in the next week.
I've had some big scripting projects fall in my lap. Some of the really rad ones I can't talk about yet, but the ones I can tell about are: Â
1) A large website is setting up vending machines in-world to let people buy product with lindens
2) I had a small subcontracted job on the Sector 7 sim from Paramount Pictures
3) I did some work for a medical organisation that's setting up to do in-world training & team building
4) I've had a bid accepted to work on an entire sim build for an RL company (no, not 7-up) hopefully next month.
5) A sim building team is pitcing EA to have me do a build as an answer to THEIR major competitors completion of the NBA sim
6) I can't tell you anything about the 6th one other than that I've already been paid 250k and theres another million on the way
Also I did some work for a chairty from St Jude's Childrens Hospital, designed a map directory system for a multi-sim land group, did some work for one of the #1 furniature retailers in SL, and a lot more small things i couldn't begin to list here.
Oh, and Double Team is finished and is getting rolled out (see FED for more details).
On top of that, our third avatar from Kawa (a bunny av with twitchy ears) has been doing very well in its vending locations, and we have a 4th av (our first sculpted one) ready to be boxed up and possibly a 5th coming out this month.
I havne't gotten the numbers sorted out right yet, but our total after-expense profit is definately going to break 2 million this month, and probably next month as well.
I'm going to be doing financials all today and all tomorrow, and hopefully I'll have everything done by 6pm tomorrow for your monthly dividend!
All my best!
<3Redux
=====
Land turns profitable after 10 weeks
Submitted by: Redux Technologies - RDX (Trade) Â
Date: June 11, 2007
Just posting this quick note to report that 10 weeks after purchase, our 4 sim commerical setup is making enough money to pay its own bills (which includes the 1/4 of a sim my headquarters is on).
Our "available' land (which doens't include my headquarters) is about 60% full. If i were to give up my headquarters, we're at about 50% capacity. If we can get to 100%, these 4 sims would make enough to cover the expenses of 8 sims.
Since the land has been very successful, we're considering buying another block of 4 sims in the near future and repeating the process. If we can continue at this rate, it should be fariy easy to reach 16 profitable sims by the 1 year mark from our IPO. This would, at current land rates, be providing an additional 1.2 million lindens a month as profitable income on top of my existing scripting business.
=====
May Earnings Report
Submitted by: Redux Technologies - RDX (Trade) Â
Date: May 31, 2007
The following is a breakdown for earnings in May, with discussion at the bottom (as usual). Dividend will post at 6pm SL time, 3 hours from now.
Income Â
Scripting Jobs REQ
Final Payments from April: 355,000
April Jobs Completed: 737,000
Down Payments for May Jobs: 150,000
Scripting Lessons: 69,000
Outsourced Scripting: 385,000
Total Scripting Income: 1,696,000
Etc Â
Outsourced Building: 70,000
Product Income: 50,000
Land Sales: 730,500
Tier Collected: 455,000
Total Etc Income: 1,255,500
TOTAL IN: 2,951,488 (we lost 12 lindens somewhere... possibly in a pocket in the washing machine).
Expenses Â
Payment toward land purchase: 836,621
Monthly Land Tier: 324,500
Classified Ads: 36,000
Physical Infrastructure: 300,000
TOTAL OUT: 1,496,612
May PROFIT
1,404,876
Debtors Â
Remaining land expense for June: 0
Remaining Physical Infrastructure: 600,000
Current Assets (pre-dividend)
4 sims + infrastructure: appx 2200000
Liquid Assets: 5,814,805 + 1,404,812 = 7,219,617
Total: 9,419,617
Debits Â
Total: 600,000
Total Assets minus debits: 8,819,617
Planned Dividend: 1,404,876
Net Assets Remaining: 7,414,741
Original IPO Balance: appx 4.1 Mil Â
Original cash on hand: 400,000 Â
Net asset growth (since IPO): 2,914,741
-Note, NET ASSET GROWTH only counts as money which is staying inside the company. Â
-Dividends paid out are NOT counted as assets.
-Land sold and subsequently abandoned contributes to "assets"
_____DISCUSSION____
The remaining land debits from the original land purchase, as well as the first installment (of 3) for the laptop we purchased were expensed for this month.
This will free us up a bit, as now that we've payed all our land off, any future sales or money above tier will be considered as "profit". We're still losing a little money off tier each month, but we're almost at break-even at 65% occupancy, which is great because most land barons don't start breaking even until they hit about 80%. At 95% occupancy we expect to be bringing in around 500 USD per sim, which translates to about 130,000 lindens per sim, or just over 500,000 total.
There was a significant drop in building income this month, as our chief builder has fallen in love and is spending his time writing poetry and sticking words together instead of sticking prims together. We expect his return shortly.
A final note. There are two very big pieces of news this month that I'm going to do separate anouncements for when we have more information. In brief... Â
1) It turns out that Jess, who runs Jess's Avatar Designs (a subdivision of RDX), is actually a phenomenal 3d artist and can make some very advanced sculpted prims. As far as we know, Jess is possibly the only furry avatar designer who will be making sculpted avatars any time in the near future. There have been a lot of furries stopping by to look (our traffic has been way up as word is getting out), and there has been quite a lot of excitement generated from this.
Also, I just found out a few hours ago that one of our biggest and most loyal clients has just listed an IPO on the WSE. This person has brought me a lot of business in the past, and has always loved everything I've made. Jobs from this client are always interesting and fun, and cater to my specialty (gadgetry, mad science, etc), and are well paying. If this IPO goes thorugh, RDX may find itself with more high paying jobs than we can handle over the next few months. I'm going to be discussing this with the CEO of the company later today and will post more information on the company and any ways we can mutually benefit each other.
<3 Redux
=====
RDX hits L$1,000 a share
Submitted by: Redux Technologies - RDX (Trade) Â
Date: May 25, 2007
I dont generally spend much time looking at the day-to-day performance of my stock price, but I've been getting a LOT of questions today, so I'm going to address briefly what's happened in the last 24 hours.
As I've announced MULTIPLE times in the past, there are currently 2 people who have been wanting to acquire every possible share of RDX at any price. Last night one of them placed a few market orders, and bought up every share up to 1,000 lindens, including several hundred shares AT 1,000 lindens.
This has caused the 30 day average to jump from 1.74 to 2.61 per share, and the 7 day average to go up to 6.06 per share. If you had -ANY- shares of RDX listed for sale under 1,000 last night, they sold.
I'm not terribly surprised by this, I've made several announcements about it. If you read my announcements, this shouldn't surprise you either.
I'm glad you're all excited by this; I've wanted more than anything for my company to be an exciting company to be a part of, and I'm glad this has become a reality for many of you.
On an unrelated topic: my birthday is coming up on May 29, and this months dividend will be May 31. Big week!
<3 Redux
=====
The Biggest Public Company in SL
Submitted by: Redux Technologies - RDX (Trade) Â
Date: May 17, 2007
I haven't made a lot of announcements lately because I've been focusing on running our company which has turned into a 17 hour a day job. There's no such thing as "free time" anymore, theres always something to do to drive profits and expand. After I read this article however, I felt it was a good time to take a step back and look at what the company is doing on the WSE.
Recent blog article posted states that RDX is the biggest publicly traded company in SL:
http://translation-ratingwse.blogspot.com/2007/05/1-billion-linden-dollars.html
At the time of this writing our 30 day average is L$1.71 per share. Considering 30 day averages, we're approximately 40% ahead of the next largest company. I feel our price to earnings ratio does a great job reflecting the potential growth our company is facing this year.
More than one investor has expressed interest in obtaining every share of RDX avialable. Several times we've seen every share below L$1.90 get bought up in sudden large market purchases. In the short term this is causing rather wide spreads, but in the long term, it's going to lead to a majority of our shares being held by people unwilling to sell them for anything less than 2 lindens per share, which should lead to the shares trading in the 2's.
I anticipate that within 2-3 months, it's going to start getting really hard to get your hands on a share of RDX. We've steadily been 50 to 70% above our IPO price for the last month, and are continuing to grow.
I recently did an inventory of our land holdings. Currently about 60% of our land is occupied (which is right where we expected to be after a month and a half) and we're already just about breaking even on our sims monthly expenses. At 90% occupancy we should be able to bring in an additional 200,000 lindens a month off tier/rental. Â
The private investor who contributed money to add a sim to our infrastructure is planning on adding another at the end of the month. By the end of June I expect to be holding between 6 to 10 sims. Management of this should be relatively easy as we recently designed a custom rental system tailored to our needs that allows us to set up and manage all of our parcels from a web site.
RDX currently offers land on 4 commercial double-prim sims. Our primary focus is catering to content creators, scripters, and artists, and we're home to 2 companies traded on the WSE (and possibly 2 more in the near future), which makes for a great community feel, and also allows us to draw upon the talents of our neighbors when our workload starts getting too heavy.
RDX is at the bleeding edge of content creation in Second Life, covering everything from avatar design to scripting and graphic arts, to land rental and development.
=====
L$1.69 Million April Dividend 6pm Today SL Time
Submitted by: Redux Technologies - RDX (Trade) Â
Date: April 30, 2007
At 6PM SL time today, (which is 9pm Eastern Time, 1am GMT, and sometime tomorrow Australia time, and about 3 hours from the posting of this message), RDX will be posting its April dividend. Details are below. The total amount of the dividend is 1,696,168 lindens.
The following is a breakdown for earnings in April. A full discussion is available below.
Income Â
Scripting Jobs
Final Payments from March: 275,000
April Jobs Completed: 737,000
Down Payments for May Jobs: 150,000
Scripting Lessons: 57,000
Outsourced Scripting: 425,000
Total Scripting Income: 1,644,000
Etc Â
Outsourced Building: 165,000
Product Income: 45,000
Land Sales: 674,300
Tier Collected: 219,000
Total Etc Income: 1,103,300
Misc Cash In/Tips Etc: 168
TOTAL IN: 3,850,768
Expenses Â
Payment toward land purchase: 674,300
Monthly Land Tier: 324,500
Classified Ads: 52,500
TOTAL OUT: 1,051,300
APRIL PROFIT
1,696,168
Debtors
Remaining land expense for May: 836,621 (appx 200k/week)Â Â
Current Assets Â
4 sims + infrastructure: appx 2200000
Liquid Assets: 6147594
Total: 8,347,594 Â
Debits Â
Land Purchase: 836,621
Total: 836,621
Total Assets minus debits: 7,510,973
Planned Dividend: 1,696,168
Net Assets Remaining: 5,814,805
Original IPO Balance: appx 4.1 Mil Â
Original cash on hand: 400,000 Â
Net asset growth (since IPO): 1,314,805
-Note, NET ASSET GROWTH only counts as money which is staying inside the company. Â
-Dividends paid out are NOT counted as assets.
This month we had a large bonus provided by a private investor covering the purchase cost of one of the sims on the condition that they be provided with a share of the profit generated by that sim (and any future sims purchased thorugh land sales). There will also be monthly income provided to us and it will help us to support our rental manager expenses.
We are going to be adding a shiny new laptop to our infrastructure next month in addition to the laptop and desktop which were donated to the company by myself and neither of which are very capable of handling Second Life... or notepad for that matter...
My personal time on the computer scripting constitues 60-75% of our company's income, and I'm in front of the computer about 400 hours a month (about 95 hours a week), however I lose approximately 30 hours a month of this time due to computer crash/reboots, harddrive failure, data loss, and all the things you would expect from an abused 5 year old desktop computer that was built from spare parts and has been rained on more than once. Having a stable and portable computer should allow me to increase my scripting time by at least 15%, which should result in about 150,000-200,000 lindens more income per month, and will put me in a much better mood ^.^
This laptop expense will be partially debited from our income next month and will be payed off to the manufacturer over the next 3 months. This was mentioned in the IPO under "*Physical Equipment & Software Upgrade: $627,000". The actual cost of the laptop and the software came out to 1,150,000 Lindens, so the difference is going to be donated by me in order to prevent it from having a negative impact on the income or going outside of the planned expenses. This will be added to the companies assets and will be listed under "income" as "Donations".
We also plan to shoulder the payment of the rest of our land expenses next month. The laptop is being purchased by the company and is for company use, which qualifies it as an asset. Additionally, even though the money was provided by the IPO, it still qualifies as an expense; however, the expense should be adequately countered by increased profits from scripting that the laptop should be able to afford me in the following month. In the event that the company is dissolved or bought out, the laptop will be sold and the earnings will be distributed to the investors, or the laptop itself will be claimed by the appropriate party (i.e. it stays with the company, not with me).
<3 Redux
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Dividend Tomorrow
Submitted by: Redux Technologies - RDX (Trade) Â
Date: April 29, 2007
Tomorrow RDX will be posting a dividend. I don't have the exact amount yet, I'm still going through all the numbers. It's looking like it's going to be in the range of 1.6-1.7 million, which will provide a dividend of 0.016-0.017 Lindens per share.
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Private Investor Gives RDX a Sim
Submitted by: Redux Technologies - RDX (Trade) Â
Date: April 23, 2007
Some exciting news for shareholders:
I am pleased to announce that RDX has just been given 500,000 Lindens by a private investor to purchase a sim and add to our infrasturcture. Â
RDX did not exchange any shares of our company for this deal, and the investment is not going through the WSE in any way. This investment will have no direct impact on shareholder equity, but has increased our land holdings by 25%, which adds to the value and earning potential of our company.
The investor has given us full rights to use the revenue generated from land sales of this sim for future expansion and the 500,000 does not need to be paid back ever. RDX will retain full ownership and control of this sim and any future sims purchased by this investor in order for us to maximise our rate of expansion as well as simplify the management process.
As a form of compensation, part of the after-expense profit generated by this sim is to be paid to the investor, and the value of the sim will be counted toward the value of RDX.
This will benefit RDX by allowing us to diversify the type of available land we have into providing both residential and commercial property, and possibly single prim as well as double prim land.
The investor has already paid us in full for the sim, which we hope to be ordering within the next 48 hours as soon as we decide on a name ;)
<3 redux
OH! P.S. Dividend coming up in a week! I'll be posting an approximation on our earnings on Friday, and the full report will come Monday, 3 hours before the dividend!
=====
April Profit Projection: 1.75 Million
Submitted by: Redux Technologies - RDX (Trade)
Date: April 15, 2007
Based on current profits and taking into account existing projects that will be completed this month, along with income from land rental and sales from Kawa and Ada Labs, I'm anticipating somewhere around 1.75 million lindens profit after expenses for the month of April. 100% of April's profits will be paid out as a dividend on April 30th.
1.75 million will mark a 75% increase from our monthly income at time of IPO.
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RDX Expands; Adds a Scripter
Submitted by: Redux Technologies - RDX (Trade) Â
Date: April 09, 2007
RDX has after much deliberation accepted a new scripter into it's folds. We now are going to be working with another full time scripter, which will allow us to expand and take even more work on than before. This should allow us to be at least 20% more productive than before. Â
I've done projects with this person several times in the past, and he is definately of the highest scripting caliber in order to pass our rigerous screening process. We're now going to be doing much more together. Our new scripter works on a per-job commission basis, as do our builders, so theres no employee expenses; just an additional source of income. We also have begun doing much more building and design work as well. Right now RDX includes 2 scripters (myself and one other), and 4 full time builders (last month it was just me and 1 builder). This will allow us to take on even more jobs than before! Naturally the highest paying projects will be completed in-house by myself and my head builders, but a number of jobs that we formerly passed on are going to become additional streams of income.
I'm very optimistic about our companies growth; as we settle in and take on more scripters and builders, we'll continue to strive to be the #1 content creation company in Second Life!
As of now we've brought in approximately 500,000 Lindens for the month, and this should continue to pick up. My goal for this month is a dividend of at least 1.75 million, and we're right on target. This would be approximately 16.6% growth from last month.
I'll post an update next week so you all know how things are coming along.
<3 Redux
=====
Dividend Posted
Submitted by: Redux Technologies - RDX (Trade) Â
Date: April 01, 2007
RDX has posted a dividend of 1,533,966 as previously announced. Any trouble with dividends should be directed to the WSE Technical Support Staff.
See you in April!
<3 Redux
=====
RDX March Earnings/Expenses Report
Submitted by: Redux Technologies - RDX (Trade) Â
Date: March 31, 2007
The following is a breakdown for earnings in March. I had one last job to finish up last night and wanted to make sure it was included in the March report, hence the delay on this posting.
Income
Scripting Jobs
Final Payments from February: 235000
March Jobs Completed: 986000
Down Payments for April Jobs: 150000
Scripting Lessons: 45000
Outsourced Scripting: 40000
Total Scripting Income: 1456000
Etc
Outsourced Building: 20000
Product Income: 35850
Land Sales: 302079
Tier Collected: 47116
Total Etc Income: 405045
TOTAL IN: 1861045
Expenses
Payment toward land purchase: 302079
Classified Ads: 25000
Total Expenses: 327079
March Profit
1,533,966
Debtors
Land payment due April 20: 1881000
MINUS Credits toward land: 302079
Remaining land expense for April: 1578921 (appx 500k/week)
The sims were delivered approximately a week ago. 2 days were spent terraforming, and about 3 days to build infrastructure/parceling. The 302079 income from land sales thus far is from the last 72 hours that they have been completed and "for sale". There has been a ton of interest in our land, and I expect to have all 4 sims running at near full capacity by this time next month, at which point we will begin to look into expanding into more sims.
Land for our project was billed to our account, which will be due to Linden Labs on April 20th (1 month from purchase date).
The 302079 from land sales is going to be counted as "land expense for March" for the week the sims were in possession, and will be credited toward the 1881000 due on April 20. Any amount below the total cost for the sims or above the cost of the sims will be counted next month as a gain or a loss as appropriate. First month of tier will be due on May 20th, and will be assessed at the end of April.
Current Assets
4 sims + infrastructure: appx 2200000
Liquid Assets: 5647594
Credits toward land: 302079
Total: 8,149,673
Debits
4 sims to Linden Labs: 1881000
Total: 1881000
Total Assets minus debits: 6268673
Planned Dividend: 1533966
Net Assets Remaining: 4734707
Original IPO Balance: appx 4.1 Mil
Original cash on hand: 400,000
Net asset growth: 234,707
Growth in net assets after 100% profit dividend can be explained through increased land value projected from adding infrasturcture & resale. Adding infrastructure and resale contributes approximately 230,000 Lindens of value, which will be posted as profits once all land is completely sold.
Taking the 302079 from land sales as credit toward land debit, and counting tier payments as "profit" as the first month of tier is provided free by LL, the total Profit minus expenses for March was 1,533,966 (53% higher than 3 month historical average initially quoted in Prospectus). This is going to be paid as a dividend today at around 5-6 pm SL time provided that the WSE is open, and otherwise will be paid upon market reopen. Â
Distributed over 100 million shares, this is an earnings of 0.0153 Lindens per share, which is 1.533% of IPO. Average share price over the last 7 days is L$1.24/share at a volume of 951,982 shares. Total volume for March was 8,211,659 out of approximately 4.1 million shares, meaning each share has been sold twice. Â
Any income and expense between now and midnight March 31 is going to be counted toward April.
Please direct any questions to the RDX Shareholders group or to Redux Dengaku. For invitations to the RDX Shareholders group, qualified shareholders should notify Redux Dengaku. Please be aware that my IMs cap very quickly, so if you don't receive a reply, please try again later.
This month was phenomenal, showing 53% growth over previous months, and well above my initially projected 1.3 million income. Next month should be even better! I'm going to catch up on some much needed sleep. See you all at dividend-o-clock, 5-6 pm today!
<3 Redux
=====
Down Payment on Large Contract Recieved
Submitted by: Redux Technologies - RDX (Trade) Â
Date: March 30, 2007
RDX has just recieved a down payment on the previously mentioned big contract that we finished negotiating. Down payments are non-refundable and are required for work to begin. This came in at the last moment and was not something I'd planned when I forecasted expected profits for March last week. Also, a few additional streams of income have begun to trickle in, which are also going to be contributing. The down payment is going to be boosting the March income by something around 20% beyond expected.
Tomorrow around this time I'm going to be posting a balance sheet that will explain all of our expenses, current assets, current holdings, expenses, accounts receiveable, etc. I believe our current assets to be something to the tune of 6 million, part of which is going to be paid out tomorrow as a dividend. I don't have all the numbers added up quite yet, but we should be clearing 1.5 million for March with plenty of elbow room.
Dividend for March will be posted on the 31st at approximately 5-6pm SL time (8-9pm Eastern). We will be posting 100% of our profit as a dividend as previously stated, and will continue to do so.
<3 Redux
=====
RDX Negotiates Large Contract
Submitted by: Redux Technologies - RDX (Trade) Â
Date: March 27, 2007
A rather large contract that RDX had completed negotiations with in mid Febuary has secured the funding for us to begin work. This contract has been being passively discussed since early January, and funding by the investor has only just now been secured. If downpayment is recieved for the contract between now and March 31, it will be credited toward the dividend for March.
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RDX To Post Dividend in 1 Week
Submitted by: Redux Technologies - RDX (Trade) Â
Date: March 24, 2007
RDX will be posting its first dividend on March 31.
Right now it appears we're on track to clear 1.3 million for the month of March (appx 300% growth from December). I'm going to be posting the entire March income as profit, even though we didn't first go public until the 19th. This means that for 12 days of holding the stock, you get 31 days of profit toward the dividend!
On March 31 when I post the dividend, for every 10,000 shares you have, you will be recieveing around 130 Lindens. I would like to suggest that you re-invest that back into the company rather than buying a new pair of prim shoes or another bling necklace. This reduces the number of shares being kicked around by short term share flippers, and will increase the competition for the remaining shares, which will inevitably drive the price per share up. I'm expecting to shake loose a lot of share flippers right after posting a dividend, so hopefully that will be a good time to scoop up some cheap shares ^_^
I'm still committed to the 100% dividend I promised. Some have expressed concern about my company's growth, so I'm going to tell you a little more detail about how my company operates. I do a large majority of the work myself, but I also have about 20 people I regularly work with. If we get a job request and I don't have time ot take it on, my company hires approved independent contracters to complete customer job requests. There's no up-front cost in this, and in a way you can almost think of RDX as something of a matchmaker or dating service. Except unlike the WSE which retains 3% of every transaction, RDX is keeping close to 50%.
So in order to grow, I don't need money to throw around, I just need to keep talking to people and finding more and more people who want to work for me. This is much easier to do when you have a dominating presense, which is a large part of the reason I went public in the first place. Since listing, a lot of people have been coming to me wanting to work for me, or wanting me to do work for them. I've even had people begging to work for free for me to show off what they can do. Everyone wants to work here and everyone wants to shop here!
<3 Redux
P.S. I have a secret weapon I'm working on for scaling up the company when the paperwork gets to be too much to handle, but I'll share that with you next month right before I post my second dividend ;)
=====
Redux Sims Delivered; SW Ready for Residents
Submitted by: Redux Technologies - RDX (Trade) Â
Date: March 24, 2007
Our sims came much quicker than expected! We are designing a centralized developed city targeted toward builders and designers. This is great news, as it will allow us to get rolling on sim development much faster than previously planned.
Right now our SouthWest plot is fully parceled, for sale, and ready for residents. We already have the main roads built through the center of town, and are still working on the infrastructure for the surrounding area, which should be completed tonight. This is a great place on a brand new sim for any newer businesses looking to get away from the mainland and live around other business owners, CEOs, and content creators.
RDX recieves tons of building and animation requests every day. By situating yourself on this developed sim, it will make it much easier for our businesses to network. I can't even begin to tell you how many times I've said "sorry, I don't know any animators" or "my buiders aren't available right now". There's just too much work!
If you need a big area with high traffic, there are plenty of 4096 plots near the center of the city which can be joined into a single 16k plot. Or you can just move into a single building and be at the center of it all.
For those who are looking for a quiet place to get some work done, but who don't want to be in a depressing empty area in the middle of nowhere, off in a skybox, or next to a loud club with particle and shout pollution, we have some great office space near the edges of the sims. These are parceled up slightly smaller, varying in size from 1280 to 3328, as well as a few 4096 plots.
Finally, if you want to be located on a quiet beach away from the heavy activity, near quiet residents who you can get along with, be sure to check out our beachfront land in the far corners. The South West sim has a beautiful view of the setting during sim-evening.
Come live at our peaceful community! Just look up Redux SW on the map!
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Sims Ordered, Land Manager Hired
Submitted by: Redux Technologies - RDX (Trade) Â
Date: March 21, 2007
Redux Technologies has just ordered 4 sims, which are going to serve as a basis for our operations.
We expect that the land will add an additional 50-100k of Lindens on top of our previously forecasted monthly profits. As the land sells, we're going to be reinvesting in new land so we can continue expansion and grow that monthly profit. Â
Increased size will allow RDX to have a stronger presense in SL, and a stronger draw to new clients, as well as providing a secondary source of steady renter income.
In order to maximize the value of the sims, we have hired Haden Divisadero as our full time land manager. Haden has had extensive experience in the past managing sims. He will be paid contingent upon the profit that the sims drive through tier/rental.
====
As the Dust Settles...
Submitted by: Redux Technologies - RDX (Trade) Â
Date: March 20, 2007
Yesterday RDX was responsible for 5 million of the 7 million shares traded (about 65%). Man what a busy day!
Today things are finally starting to get back to normal pace. If you review the rate that the IPO was selling at, new shareholders were picking up about 300,000 shares a day on average. Today, about 300,000 shares of RDX were sold, mostly at a rate of over L$1.10, so it looks like that's staying somewhat consistant.
I figure another 5 days and all the "loose" shares floating around are "accounted for". At that point, the stock will probably begin to climb as the 300,000 new shares people are looking to purchase every day get more and more in demand.
To those of you who have stayed with RDX despite it's brief jump up to L$1.30 per share, I wanted to thank you. L$1.30 is great, but we're going to do much better than that! Keep tight reins on those shares and by the end of the month, you won't be disappointed :)
<3 Redux
P.S. I'm trying to pick sim names. I'm going to be getting a total of 5 of them in the next month or two. I've already hired a phenomenal land manager to make sure that things runs moothly, and I've spent a good bit of time chatting with some people who own 15+ sims, so we're definately on the right track. Any suggestion for names? I'm thinking that the first 5 should be name Nox, Luc, Aug, Pax, and of course Redux at the center. I could also go with Luk Vit Int and Dex, but I'm afraid you guys will think I'm nerdy if I did that xD. Any suggestions? Let me know!
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RDX Dividend Policy
Submitted by: Redux Technologies - RDX (Trade) Â
Date: March 19, 2007
Thanks everyone for helping this IPO clear in under a week! In the last 12 hours the stock has already pushed through a rather thick ceiling and RDX has already inched its way up to 1.07/1.08.
We had initially planned on posting a dividend this Tuesday in order to help stimulate IPO sales so I could get to work making us all rich as soon as possible. This clearly wasn't necessary however as RDX experienced a volume of over 6 million today.
Since I can get the gears rolling now, I'm going to focus on getting everything set up so we can post a HUGE March dividend. I know some people were hoping for a few half pennies this Tuesday, but TRUST me, after I post a big dividend at the end of March, you'll be thanking me as the stock goes up even higher :)
For AT LEAST the first 6 months, RDX is going to be posting dividends of 100% of profit on the final day of each month (this month included). During this 6 month window, I will NOT be releasing any more shares, so you guys are just going to have to fight over the shares that are already out there. Theres going to be a burst of expansion thanks to the IPO. If that starts really taking off like I plan for it to, only then will I weigh the pros and cons of shaving a little off the dividend to boost expansion. If I dont deem it necessary though, I will keep it at 100% forever.
Any growth in terms of land is going to be achieved by the sale/rent of existing land. Vender and employee fees are going to be covered by discounted land use at the headquarters. Finally, if someone is up to my very picky standards, I'll be allowing them to set up vending at the headquarters sim for a signifiant premium on their sales.
So basically I'm going to make the land pay for itself AND pay for my employees, so that my expenses can be as close to zero as possible. This will allow me to squeeze every drop out of the income, and maximise the value of the dividend.
For anyone interested in the brief history of the IPO sales, I have records that I kept based on the remaining outstanding shares at 6pm SL time (which I assessed to be 'market closing' time).
3/12 LISTED
4,174,621 total 28 days left
3/13
3,973,470 left 27 days left
3/14
3,576,090 left 26 days left
3/15
3,553,842 left 25 days left
3/16
3,230,213 left 24 days left
3/17 (one million sold!)
3,137,885 left 23 days left
3/18
2,899,505 left 22 days left
3/19 RDX GOES PUBLIC!
=====
First Meeting Transcript
Submitted by: Redux Technologies - RDX (Trade) Â
Date: March 18, 2007
[14:00] You: I'm going to be starting the RDX shareholder meeting in about 1 minute :)
[14:00] Brent Wunderlich: coool
[14:00] Sophia Yates: balance
[14:01] You: I wasn't able to find out if i would be able to reserve the meeting room
[14:02] You: so i figured this would be the best bet :)
[14:02] Jailbird Peterman: thank you
[14:02] You: few more people asking for TPs ;)
[14:02] You: Hey jailbird :)
[14:02] Jailbird Peterman: you are the man
[14:03] You: something like that xD
[14:03] Mikke Zenovka: Hey Richy you interested in a 38,500 at myths in an hour?
[14:03] Richy Brynner: no thnx
[14:04] Richy Brynner: not today
[14:04] You: waiting on one last person :)
[14:05] Richy Brynner: ru going mikke
[14:05] You: guess some people are having TP issues this morning :)
[14:05] You: everyone having a good weekend so far? :)
[14:05] Mikke Zenovka: yes
[14:05] Mikke Zenovka: I am in the 38k
[14:05] Mikke Zenovka: if they get enough
[14:05] You: hehe
[14:06] You: I somehow managed to spill on my laptop AND my desktop keyboard at the same time, so I spent the weekend fixing stuff xD
[14:06] Elda Luna: lmao
[14:06] Brent Wunderlich: lol
[14:06] You: was my last shot of sambuca too, i was really sad :(
[14:06] Dominic Steinbeck: That's awful, why are you guys laughing? :/
[14:06] Fujiwara Food: Jess Unsworth, you're "Cheif" Officer :)
[14:06] You: hahaha
[14:06] You: Jess and Adasyd are chier officers :)
[14:06] You: Adasyd is having connection issues right now
[14:07] Jess Unsworth: i didnt spell it >.>
[14:07] You: i did
[14:07] Fujiwara Food: their tag says they're Cheif Officers :)
[14:07] You: i can't spell very well
[14:07] You: hehehe
[14:07] Jess Unsworth: its ok, i like cheif better anyway
[14:07] Fujiwara Food: you've flipped i and e. It should be "chief"
[14:07] Dominic Steinbeck: Don't say it infront of the stock holders Red.
[14:07] You: here, i'll fix it
[14:08] Kristian Chevalier: or chef
[14:08] Fujiwara Food: don't worry typos happen, ..
[14:08] Jess Unsworth: perfect
[14:08] You: better? xD
[14:08] Elda Luna: haha
[14:08] Brent Wunderlich: lets here some news
[14:08] Brent Wunderlich: yaya
[14:08] Jess Unsworth: whos hungry?
[14:08] You: fortunately LSL is based around small words :)
[14:08] Fujiwara Food: Yeah, now he's a cook :)
[14:08] Elda Luna: lmao
[14:08] Jess Unsworth: woohoo, promotion!
[14:08] You: alrighty i'm gonna go ahead and get started :)
[14:08] Dominic Steinbeck: Another speed picnic?
[14:09] Fujiwara Food: expanding your duties :)
[14:09] You: Most of you here have already spoken to me in IMs and have a pretty good idea of what's going on
[14:09] You: I'm trying to stay in touch with all my shareholders so that theres always a connection between me and you guys
[14:09] You: As head of the company, I have 2 primary concerns
[14:10] You: 1) I want to make myself, my employees, my partners, and my shareholders as rich as possible
[14:10] You: and 2) Refer to rule 1
[14:10] You: Hey haden :)
[14:10] Haden Divisadero: hey
[14:11] You: Right now i've been struggling a lot with hardware issues, as well as issues with space and prims
[14:11] You: Most of my business however is not based on vendor placement or physical inventory, it's based on my ability to script
[14:12] You: I work with a lot of the large casinos in SL doing custom work on-site for them. Anything I do i have backed up on a thumb drive, 2 different harddrives, and my laptop
[14:12] You: So even if there are problems with objects disappearing, theres an inherant stability to anything I work on
[14:13] You: Another of the big limitations ive been working on is, my abilities in scripting are almost the total opposite of my abilities at building
[14:13] You: By incorporatig wiht Jess and Adasyd, and having some resources to invest in hiring builders, the door is going to open up for me to work on a lot of the larger projects I've ended up turning down in the past
[14:14] Erik Bligh: this place is sweet...
[14:14] You: Theres a lot of companies in SL as well as in the real world who are very particular about what they want, and are willing to pay good money to get it
[14:14] You: A lot of those companies want complete packages, which can't be provided simply with a cript
[14:15] You: If you pull up a places search and look for "scripting" right now, i'm the 3rd on the list right below a sandbox and a school
[14:15] You: So i've been approached in the past by a lot of large companies, some RL companies who know nothing about SL, and want to know what I can do for them
[14:15] You: Despite this however, with scripting alone I managed to bring in just over 1.2 million lindens in Febuary
[14:16] You: In febuary, which is only a 28 day long month, i also spent 6 days without a computer due to some hardware issues
[14:16] You: So really, there aren't a lot of limitations in terms of how far scripting can take you, other than the time and energy you actually put into it
[14:16] You: Running at full tilt, i probably can bring in anywhere from 1 to 1.5 million in a solid month of scripting
[14:17] You: But this isn't enough for me
[14:17] You: I have my eyes set on the contracts from big companies
[14:18] You: I want companies like Apple and Microsoft to come to SL, wind up on my doorstep, and I want all the Bill Gates and Steve Jobs in their newbie avatars begging to pay me piles and piles of money to help them establish a presense
[14:19] You: RDX has only been public for about 6 days so far, and 30% of it has already sold
[14:19] You: I expect that the IPO is going to be finishing up well before the final date
[14:19] You: In comparison to my earnings, there's not a lot of shares floating around, so as I start growing as a company, I fully expect there to be a lot of competition for the shares that I have out there
[14:20] You: My intention isn't to do what a few companies are doing, and try to hustle up a lot of competition early on so that my stock shoots up and crashes
[14:20] You: This is great for people who want to either win or lose a whole lot of money in a short period of time, but RDX isn't focusing on high-risk short term gains and losses
[14:21] You: If you want that, I happen to know a few wonderful casinos with Roulette wheels ;)
[14:21] Haden Divisadero: lol
[14:21] You: My goal is to build the name RDX over the course of the next year and be one of the blue chip stocks
[14:21] You: 3 months from now, i want everyone to be saying "boy i'm glad i held on to RDX"
[14:21] Sabz Schnyder: balance
[14:22] You: This shouldn't be difficult to do, i have all the pieces already in place
[14:22] You: I've partnered with two fabulous builders. Actually, the avatar I'm wearing right now was designed by Jess just this weekend
[14:23] You: Jess and Adasyd, who i've known since my early days in SL, both have vast lines of very popular products, but as of yet, they mostly are selling out of a "bike and wagon", so to speak
[14:23] You: By establishing strong presense in SL, helping them to grow the strength of their products by enhancing them with my scripting
[14:23] You: And by giving them a location where they can pool their customer base together
[14:23] You: I fully expect that end of the company to really explode in terms of sales and profitability
[14:24] You: When i initially valued my IPO, I posted an earnings expectation based on the average of my last 3 months of income
[14:25] You: Admittedly, i spent a vast majority of January playing with my new Wii, and for about 1/4 of Febuary I didn't have a computer
[14:25] Sabz Schnyder: why shall we invest in your company redux?how much will the growth be in the following months?
[14:25] You: Hehe, that' swhat im' getting to
[14:25] Shaun Altman: Sabz: you should probably hold your questions for the end.
[14:26] You: hehe
[14:26] You: If the question is "how much will you grow", honestly, i dont have any set expectations
[14:26] You: I can answer with "I expect to grow forever" of course, and i do
[14:26] You: I fully expect that by the end of april, i'll be posting around 2 million of income, which is about double what i have described in the prospectus
[14:27] You: Ive actually just been finishing up some negotiations with a few of the companies already publicly traded on the WSE
[14:27] You: BW Williams is planning on having me on board for a huge contract that should hold out for a number of months
[14:28] You: I've been working with FED helping to develop his product line
[14:28] You: and Montanas Poker Room has been planning on having my company do a lot of the development of their new sim and casino
[14:29] You: Single jobs and contracts are great for business, and based on the contracts I've already negotiated, the next 3 months should be record breakers
[14:30] You: The strength of a business is as much in its partners as it is in its infrasturcture
[14:30] You: The contracts are easy to get. As long as theres people in SL who dont know how to script, I'll always have a job :)
[14:31] You: I already have a number of people who have been asking and offering to help me get established
[14:31] You: I've got the people, and I've got the contracts, and everything is lined up for me to see anywhere from 200 to 300 percent growth over the next year
[14:32] You: At this point it's just a matter of expanding the infrastructure to help support this growth. Which is what the IPO is all about :)
[14:32] You: I think i've rambled for about a half hour now, so if anyone has any questions, now's a good time :)
[14:33] Kristian Chevalier: i would like to see a financial forecast for the coming year. when can you have that done?
[14:33] You: I can probably have that done today
[14:33] You: I'll go ahead and post it as an announcement on my companies prospectus page :)
[14:33] Kristian Chevalier: excellent
[14:34] You: I have the financial forecast put together in my head already, just dont have it all down on notecards quite yet ;)
[14:34] Shaun Altman: Sorry - is it question time?
[14:34] Kristian Chevalier: will you specify it monthly or qaurterly?
[14:34] You: yes shaun :)
[14:34] Shaun Altman: I have a few if that's ok.
[14:34] You: Kristian: It's difficult to do exact forecasts for a month to month basis. I get about 60-70 requests for scripting every day
[14:35] You: I can look at averages bsed on past work, but it's difficult to nail down an exact number
[14:35] Kristian Chevalier: maybe quarterly then?
[14:35] You: Quarterly should be fine
[14:35] You: I really dont see my company doing less than 1.5 to 2 million in business once the dust has settled
[14:35] You: theres going to be a little bit of a transition period while LL gets our land set up
[14:36] You: I should have thing sgoing full tilt by the 10th of april :)
[14:36] Brent Wunderlich: sweet
[14:36] You: Shaun?
[14:36] Shaun Altman: Yes
[14:36] Shaun Altman: First, given the spike in demand for your services, it seems like there isn't enough of you to go around :)
[14:36] You: Thanks for penciling me into your schedule btw, i know how busy you are ^^
[14:36] You: HA!
[14:37] Shaun Altman: Would it be possible to control demand through raising prices and thus drive revenue?
[14:37] You: A common concern
[14:37] You: mm, good question
[14:37] You: I've actually been steadily raising my prices for the last 3 months
[14:37] You: I'm trying to find a good equilibrium for how much I should charge without lunging overboard
[14:37] You: Someone told me once, "If you work all day and theres still work to do at the end of the day, you'r enot charging enough"
[14:38] Shaun Altman: I see - so you plan to continue ramping up prices for the forseeable future?
[14:38] Shaun Altman: Yex exactly :)
[14:38] You: Right now i'm charging 2.5 times as much as i was in january, and there really doesn't seem to be an end to all the business people bring me
[14:38] Nicholas Portocarrero: Shaun?
[14:38] You: I'm sure now with some building support from Adasyd and Jess, i'll be able to go up even higher :)
[14:39] Shaun Altman: great! :) next question I have..
[14:39] You: sure!
[14:39] Shaun Altman: I heard a figure of 2mil profit target for April earlier - but how are profits actually tracking for March?
[14:40] You: A lot of this month has been devoted to planning
[14:40] You: I've spent a lot of time trying to secure solid contracts that I would be able to rely on for the next 3-6 months
[14:41] Shaun Altman: I'm not looking for a crazy projection, just the actual tracking. :)
[14:41] FWord Utorid: reset password
[14:41] You: Im also spending a lot of time working with my officers on planning out how the next month is going to go
[14:41] You: hehe
[14:41] Mikke Zenovka: What companies do you have contracts with now ?
[14:41] Shaun Altman: Kind of trying to establish a worst case scenerio
[14:41] You: hehe
[14:41] Shaun Altman: Mikke: if I could have just a couple more questions I'll be done.. :)
[14:42] Mikke Zenovka: sure
[14:42] Shaun Altman: thanks.. sorry hehe
[14:42] You: Well the day I announced my IPO i created a secondary account that i've been putting funds into for the company
[14:42] You: I think it's been aroudn 6 days and right now that account is sitting on 250,000 lindens
[14:42] Shaun Altman: but that's revenue right? not profit?
[14:43] You: No, that's profit. I really dont have much in the way of expenses
[14:43] Shaun Altman: so we're looking at a little over.. oh ok great so a little over 1mil
[14:43] Shaun Altman: next question is 2 in 1 :)
[14:43] You: hehe
[14:43] You: go ahead ;)
[14:44] Shaun Altman: I'm not sure if I missed it, but what will the dividends be percentage-wise? What day of the month will they go out? And how many total shares will there be when the IPO is over?
[14:45] You: I'm planning on paying out 100% of my acutal profit as dividends
[14:45] You: Right now i'm planning to post a dividend on tuesday of what has been made by the company so far
[14:45] Shaun Altman: oh, wow, can you commit to that 100% for the first 3 months?
[14:45] You: Sure :)
[14:45] Shaun Altman: cool
[14:45] Shaun Altman: and how many total shares at offer end?
[14:46] You: There will be just under 4.2 million shares
[14:46] Shaun Altman: 4.2 ok
[14:46] Shaun Altman: Ok thanks for your time. :) I'll take 2 million shares thanks :)
[14:47] You: hehe, save some for the others shaun ;)
[14:47] Shaun Altman: I did :)
[14:47] You: The dividend is a great bonus
[14:48] You: But when RDX hits 20 lindens per share, you probably wont be worrying about whether it was 1% or 5% profit you made on your dividend :)
[14:48] Haden Divisadero: LOL you only have 800k shares left
[14:48] Enky Nakamura: redux, how many outstanding shares there are?
[14:48] You: let me check, hang on
[14:48] Haden Divisadero: 800k
[14:49] You: 870,121
[14:49] You: looks like i'm going to have to send some invitations to my shareholders group ;)
[14:49] Enky Nakamura: total shares i mean, both on the ipo and in your hands
[14:49] You: AH ok
[14:49] You: the company has 100 million shares total :)
[14:49] Fujiwara Food: IPO almost done, lol
[14:49] You: hehe
[14:49] Enky Nakamura: so the dividend will be calculated on 100 million shares?
[14:49] You: For this first month, I think what i'm going to do for the dividends is post weekly rather than for the month
[14:50] You: Since this month is going to be a 3 week long month for the company as of incoporation date :)
[14:50] Shaun Altman: You'll have to do it monthly. Can't post under L$0.01/share
[14:50] You: That's correct enky :)
[14:50] You: ah, thats a shame
[14:51] FWord Utorid: watch yourself.
[14:51] You: humm, any more questions? :)
[14:51] Mikke Zenovka: Shares are selling fast now
[14:51] Mikke Zenovka: lol
[14:52] Jailbird Peterman: going, going, gone
[14:52] You: hehe
[14:52] Mart Lupino: withdraw 25000
[14:52] You: honestly, i love the idea of people fighting over my shares
[14:52] You: That does a lot to drive the price of the stock up :)
[14:53] Mart Lupino: withdraw 50000
[14:53] Mart Lupino: balance
[14:54] Mart Lupino: redraw 10000
[14:54] Adasyd Nino: balance
[14:54] Mart Lupino: withdraw 10000
[14:55] Haden Divisadero: .tower
[14:55] Kristian Chevalier: why will you share all of the profit to the shareholders?
[14:56] You: There's not really much reason not to. After the bills are paid, the employees are paid, and everythings clear, theres not a whole lot left to do with the money
[14:56] Kristian Chevalier: so you are not thinking of reinvesting the profit into the company?
[14:57] You: The way my infrastructure is set up, i really wont need to
[14:57] You: A big part of the reason i'm investing in some land is that I plan to establish specific people with product lines, in exchange for a place to build their shops
[14:57] You: I dont believe in strip malls where anyone and everyone can rent out space for 200 a month
[14:57] Kundalini Seale: but if you will have more clients, you woud want more workers...
[14:58] You: Of course, and as i have more workers those will be expenses that come out of the income before the profits are calculated :)
[14:58] Mikke Zenovka: What other companies are your competition?
[14:59] You: With scripting there really isn't much competition, it's really a free for all
[14:59] You: Scripters will regularly pass customers off to each other when we're too busy to take more jobs
[14:59] You: I acutally get about 15-20% of my customers from OTHER scripters who are also overloaded with work
[15:00] Mikke Zenovka: So do you have plans to add more scriptors to the company ?
[15:00] Mikke Zenovka: for growth
[15:00] You: I'm going to be looking into doing that on a conditional basis
[15:00] You: I've already shown that I can clear a million profit with my own hands
[15:00] SAFETR Rasmuson: withdraw 400
[15:00] You: I'm looking for scripters, but I'm really picky about the quality and the timeliness of the work
[15:01] Mikke Zenovka: Good
[15:01] You: Once i have the infrasturcture established, it should be a lot easier to do
[15:01] You: I really only want the best and brightest working with my company
[15:01] You: And the people i work with have to be able to get along with eachother
[15:01] You: Everyone working with me and my company, when we're not working, we hang out together because we like being around eachother
[15:02] You: I'm not willing to hire a sloppy scripter or builder, and i'm not willining to hire someone who's phenomenal that people can't get along with
[15:02] You: I've been talking with about 3 people who i think would be great additions, but theres nothing finalized with any of them yet :)
[15:02] Mikke Zenovka: So have you targeted any talent people you might want to add?
[15:02] You decline Notice to the HC08 Group about dirty tricks plans from A group member named pup Witherspoon.
[15:03] You: I'd rather not give any names out quite yet, but i'm sincerely hoping that one person in particular will be joining with the company
[15:03] You: He's someone who a lot of people call "the best scripter in SL", and we happen to be friends as well
[15:03] You: If i can get him working for my company, that would be phenomenal
[15:04] Mikke Zenovka: YOu havea market with no competition so the bigger you grow ( with very talented people) the better
[15:04] You: But even if i can't get anyone who makes the standard, i can just keep raising my prices and getting my name on more and more ears and tongues
[15:05] Mikke Zenovka: There will be competiors
[15:05] You: It's a big ocean :)
[15:06] You: as long as i'm the biggest fish in the pond, i can get first pick at the best contracts, and everyone else can fight over the leftovers :)
[15:06] Mikke Zenovka: lol
[15:06] Mikke Zenovka: Microsoft of Scriptors
[15:06] You: hahaha
[15:07] Mikke Zenovka: Thanks for the great meeting it was informative
[15:07] You: thank you for coming :)
[15:07] Mikke Zenovka: YOu IPO might be goen by the end ofthe day
[15:07] You: If there are any more questions, feel free to IM me, i'm always available to chat :)
[15:08] Elda Luna: lmao
[15:08] Kristian Chevalier: thank you Redux
[15:08] You: shall we get back to work? :)
[15:08] Jailbird Peterman: very nice, Redux!
[15:08] You: hehe :)
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Prospective Shareholder Meetings This Weekend!
Submitted by: Redux Technologies - RDX (Trade) Â
Date: March 16, 2007
You've seen RDX, you've glanced over the 20 page long prospectus. Time to find out what we're REALLY all about and why you should invest with us!
I'm going to be holding 2 prospective shareholder meetings. Shortly after the second meeting I'm going to be posting our first dividend.
At each of these meetings I'm going to reveal some information that wasn't included in the prospectus that may make RDX look even more desireable than it already is.
If you're curious about RDX or have already bought some RDX, I encourage you to attend at least one of these meetings!
MEETING 1: Sunday, March 18
2pm SL (Pacific) Time
5pm Eastern Time
TOPIC: I'm going to briefly explain who we are, what we do, and why investing with us is a good idea.
MEETING 2: Tuesday, March 20
3pm SL (Pacific) Time
6pm Eastern Time
TOPIC: This will largely be a Q&A session, where you can ask me any questions you have regarding RDX. Shortly after this meeting (approximately 1 hour), I'm going to be posting our first dividend. Â
If you want to get in on the IPO, buying sometime between now and that first dividend on Tuesday will be a great way to maximize your earnings!
If you have any questions, please feel free to IM me in-world!
<3 Redux
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Off to a Great Start!
Submitted by: Redux Technologies - RDX (Trade) Â
Date: March 13, 2007
Redux Technologies was listed as an IPO 24 hours ago, and before I've even had a chance to start promoting it, we already have over 200,000 shares sold! At this rate, we'll have this thing off the ground well before the IPO's marked "end" date.
As a way of thanking everyone who's getting on board early, I'm planning on posting our first dividend within the next 10 days.
This is only a taste of things to come! More than anything, I want people to WANT to own stock in my company. I want people to know that no matter what happens, they're holding onto a piece of something with a bright future that's going to take care of them.
All my best wishes~!
<3 Redux