A place for trading virtual stocks in SL http://www.intlstockexchange.com/ Dear Shareholders,Sorry for not being here for a good while, but I have been just very busy with Real life and therefore my time in SL has been very limited. I am not going to come up with any excuses or lies, but I simply just did not have time, and even less for ISE. I am currently on vacation but from 1st of August, I will be returning to Second life as I will have some time and I will resolve the issues regarding our Stock prices and Payments due to our shareholders. I am sorry again, I Know it has been a very long time and I am aware of this issue for which I am the one to blame for. Sorry but will resolve issues as soon as possible. Take care, Kind Regards,  Frageurs Hock C.E.O & Chairman  http://www.intlstockexchange.com/displaypressrelease.php?releaseid=1114 07.20.10 Dear shareholdersOver the last few months trading has become much harder and whilst it has stabilised i do not envisage business to get back to levels that we saw even 6 months ago.  Indeed, we do not have much visibility as to when business will recover, if at all.We have reviewed the business and whilst we can continue as we are we have determined that the returns generated for our time required are not attractive.In discussion with customers we looked at changing our business model and whilst we believe that we could increase our returns to attractive levels we are unsure as to the sustainability of any future plans.Hence, we have decided to take the company back into 100% control and scale back the business or wind it up completely.In deciding what price to pay for the outstanding shares our primary aim is to leave with the feeling that everyone has been treated fairly.  Paying what the company is worth is a secondary aim on the assumption that it is worth less than what we are likely to pay.To that end, we note:- The average share price in the last 3 months was L$2.10- The maximum price paid for a share in 2010 was L$2.76 on 14 June 2010- The maximum price ever paid was L$4.00 on 2 May 2009- There have been 966 trades in the shares since the IPO in November 2008- Of these 966 trades, 16 have been over L$3.00, and those all occurred in the period from 2 May 2009 to 17 May 2009- Before and following that period the shares generally traded comfortably below L$3.00- Current dividends are likely to be L$0.01 per month if trading remains at current levelsHence, i have decided to make an offer of L$3.00 for the shares that i do not own. That is the equivalent of 0.33% yield assuming a L$0.01 dividend per month, or an annual yield of 4.0%.The L$3.00 will be paid in the form of a final dividend and then shares cancelled.  The timing will be shortly after my own shares are cancelled.However, before my shares are cancelled and this payment is made, i would like to open this to discussion from the current shareholders and anyone else for that matter.  The discussion is on the L$3.00 offered, not on whether the company should be delisted.  I have opened a thread in the forums, in the TFIG section for this discussion.The current shareholders are listed below:As a final point to this release, i would like to say that i have enjoyed my time here and hope that current and past shareholders have shared in my enjoyment.Kind regardsPercy FotheringtonCEO Current shareholders:PercyFotherington 438,666geraldNubalo 46,515magusshilling 29,875duncanlandfall 23,762rupertpiers 10,505DeliciousDemar 7,000delishdemina 6,960elialemorigi 6,000SportsbetsWriter 5,585BugsyZabaleta 5,000lobisonesCongrejo 3,034CockyDagger 3,000AureliaMelnik 2,557romenmiles 1,778AlainDelpiaz 1,438FatimahIramesius 1,338alyxxwriter 1,000InsouciantYue 1,000KotikRoux 1,000VTMerchantSilvershade 800terrenceNaidoo 510charliewinx 450HannaMeltzer 251wesleyschism 251chaostailsHax 250tomprospero 250MateoInfinity 203GravelHomewood 200MunitoJacobus 198strotidanitz 156atreyufrequency 100benclysewell 100smyonparae 90NinhoNishi 89TielkGoodliffe 50GalliusVellhi 10KiskaRoux 10MaxmillianAuer 10sefurrysciarri 5FireWickentower 2JohnLukeSeale 1NicoloLuminos 1 http://www.intlstockexchange.com/displaypressrelease.php?releaseid=1113 07.17.10 We have today paid a final dividend of L$0.011 per share for June. http://www.intlstockexchange.com/displaypressrelease.php?releaseid=1112 07.17.10 17/07/10  June Financials ReleasedThe Financial Statements for the month of June 2010 have been released today and the detailed statements (Profit & Loss account, Balance Sheet and Cashflow statement) are available at www.thefotheringtongroup.com/financials/Fins201006/Fins201006.htmlIn summary:revenues L$7,600 (L$7,450)earnings L$7,650 = L$0.013 per share (L$7,450 = L$0.012 per share)earnings pre one-off gains L$0.013 (L$0.012)Cash L$696,825 (L$696,065)Insurance Reserve L$250,000 (L$250,000)net assets L$614,825 = L$1.02 per share (L$614,385 = L$1.02 per share)shares in issue 600,000Dividends:Interim PassedFinal paid on 17 July 2010 L$0.011Commentary on the Financials:As expected June was flat on May but a volatile month.  Business levels and customers remain uncertain.We decided to pay a final dividend of L$0.011 per share.  We decided to pay out a 90% of June earnings.Our monthly return on equity was 1.2% (1.2%).Our cash position remains healthy at L$614,825 and generally follows retained profits after dividends.  We write short term business and therefore our profits almost entirely convert to cash on a monthly basis.  There is of course a small timing difference - we get payment when we write the insurance business but the profits come in at the end of the period relating to the business.  However, during this time of largely flat revenues the timing difference is offset by the timing difference in the prior month.Our insurance reserve remains flat at L$250,000 providing us ample buffer against claims called on our insurance written.Our net assets increased to L$614,825, equivalent to L$1.02 per share.We aim to maintain our cash levels to meet the 4 largest potential insurance exposures we have - during May we met this criteria by a factor of 3.0x (1.5x in May).  We also aim to cover our largest exposure by 4x - in May our cover was 4.1x (4.1x in May).Shareholders are also reminded that we plan to pay out at least 90% of earnings in the form of a dividend in the initial months of the company to build a track record.  Hence, NAV growth will be limited. Comment on Strategy:We have taken the decision to exit the market of writing insurance to residents in SL who wish to insure their investments going to nil though events other than normal business failure.  We expect this process to take a number of months.  The main reason for this decision is that we are finding it harder to price the risks involved as our information sources dry up.  Hence, by the end of the year we expect to be a company entirely focused on writing insurance business to SL Corporates.  During June we ceased to write business on FAG. Commentary on the Business:As has always been the case, from a top level view, the health of the markets we operate in is governed by the level of business within Second Life.  The level of business determines the requirement for insurance and the frequency of the requirement for insurance.  We benefit not only by the level of the SL economy but also by the number of transactions done.  Almost every transaction potentially needs insurance.It is up to us to price our insurance profitably such that our customers receive value and we recognise and price the risks insured appropriately.Our revenues (insurance written) is aimed at two groups: (1) Corporates in SL; (2) residents in SL who wish to insure their investments going to nil through events other than normal business failure.For both business groups, we resist pressure to reduce our rates or lengthen our insurance terms - risk does not change with a decline (perhaps goes up even) and therefore we are hold our prices.During May we held our capacity available to write insurance to corporates, though we expect this to rise over time inline with our strategy stated above. Our insurance written to corporates was flat on May.  It seems that some customers have curtailed their businesses back more permenantly after Easter and hence demanding low insurance, if at all.Customers in the newer business areas (non land, non currency) continue to experience slower trading with one-off events not occuring (which is a good area of demand for insurance).  This has been the case since March.Hence, as at the end of the month, we had a total exposure to Corporates of L$450,000, similar to April.We are disheartened at the low level of business and at this stage do not see any change expected.  Our customers continue to experience lower trading. Our insurance written to residents remains focused on companies trading on the ISE.  Hence, our business here is driven by the number and value of customers dealing on the ISE.Whilst our business has been stable for some five months now we took a decision to reduce our exposure to SL Residents in January / February.  Furthermore, as discussed above, we will slowly start to pull out of this business over the remainder of the year.Visibility does, however, remain uncertain and business is sporadic at best.  At this stage, we do not have plans to expand onto other exchanges.  We have noted additional competition coming into the market and we will monitor the ongoing environment. Outlook:We have now completed our final week of the month where we renew insurance with many key customers.  Trading into July has continued in the same manner as June.Hence, at this stage we expect a flat July on June.We have decided to revert to paying a final dividend each month instead of two dividends per month.  Once our trading recovers then we will go back to paying dividends twice a month.We will update shareholders of any developments in a timely manner as the month progresses.The accounting policies can be found at this link: www.thefotheringtongroup.com/financials/accountingpolicies/accountingpolicies.htm http://www.intlstockexchange.com/displaypressrelease.php?releaseid=1111 07.17.10 June Dividend: 18,272L  (0.028L/share) WX: 5,048L AT: 13,325L http://www.intlstockexchange.com/displaypressrelease.php?releaseid=1110 07.07.10 Dear Shareholders,since the changes on the search, all spot smaller then 8000 SQM are not real relevant to the search engine.Additionaly, search is working so bad, that people stop to using it for finding goods.Sales are down to 450.000. My Daily business is stabilized to 15000 LD per day. (damn) . Even my big spots are good ranked, even then, sales are bad. No loss, even now.(i have sold one sim-based on the changes on the search.) I will try to buy all shares below 20 Cent. So you are welcome to give here a sales order. Since FAG is on ISE, i have bought back about 500.000 Shares back.  So, let see how things going further. But right now, it doesnt look good for SL. Best Regards,Lucky Raymaker http://www.intlstockexchange.com/displaypressrelease.php?releaseid=1109 07.06.10 Revenue   Commission and Advertising $14,122.00 Dividends/Currency Trade $21,992.00 Stipend/Gift $11,200.00 Total $47,314.00         Expenses   Advertising and Promotions $1,240.00 Afilliate Commission $0.00 Total $2,240.00     Income $45,074.00         Assets   Cash On Hand $3,531,987.00 Stock $59,866.00 Land $1,000.00 Software $2,300,000.00 Total $5,892,853.00     Liabilites   Deposits $3,487,506.00 Insurance Fund $50,000.00 Shareholder Equity $2,355,347.00 Total $5,892,853.00     http://www.intlstockexchange.com/displaypressrelease.php?releaseid=1108 07.05.10