Thursday, March 20, 2008

DDE is delisting from the WSE

After careful thought and consideration, I have decided to delist Delicious Demar Enterprises (DDE) from the WSE.DDE's time on WSE has been tremendous - the exchange has allowed the business to grow rapidly over the last year, and as you all know, we have met with some success and revenues and profits have for the most part been on a steady increase over that time.

With the launch of WSE 4.0 around the corner, WSE is entering a new phase of growth by rapidly expanding the user base, and I think the opportunities for companies on the exchange are excellent. I think that they will be able to leverage the new pool of fictional currency that will be available, and take their companies to the next level.

Over the last year, my commitments in real life have grown, and as I have mentioned in the past, DDE has entered a holding pattern - the business is at a manageable size now - just! I have decided that I do not want to expand DDE any more, because I simply can't afford the time to give expansion the attention it would need to succeed. At some point in the future, I will be planning a slow and ordered withdrawal from the land business. It has been a great run, but eventually it will be time to move on to something new in Second Life. Because of this, and in light of recent events surrounding DDE, in good conscience, I cannot stay on the WSE any longer.

I encourage all shareholders to join the Delicious Demar Enterprises group - I will be calling shareholder meetings through this group in the coming days/weeks to decide how to manage shareholder interests privately, and will seek your advice on how to proceed to ensure that your interests and investment are protected. I will be contacting major shareholders directly as well. You can trust me to treat you all fairly, and keep the same high ethical standards that have always been the hallmark of DDE.

Please feel free to leave questions or comments here. Thank you all for everything. Best of luck to all of the companies on the WSE. See you in the metaverse!

Yours Sincerely,
Delicious Demar


ServMe Nakamura said...

Thanks for openly stating your intentions after delisting. I understand that moving to another exchange is not something you are considering, and at the point DDE is right now, it may not be necessary either.

I assume you have a loyal investor base and there may be relatively little changes in it in the future. New investors may find it more difficult to invest in DDE though.

I can only think that you delisting will have a serious impact on WSE, and I can already see SIM following soon, though it of course remains up to Pablo.

SLW (Eclipse Eclipse) handled their delisting in a very straighforward way, paying out investors within days of delisting. If DDE does the same, I'd understand, though I'd rather stay an investor :-)

Delicious Demar said...

Hi ServMe :-) thanks for the comment.

I don't think DDE leaving the WSE hurts the WSE at all - better to do it know than to do it a short time after the launch of WSE 4.0.

I will be talking to shareholders to see what they want - I am pretty open to anything - but I have no real desire to gut DDE and sell it off in order to do a one-time pay-ioff of investors. Considernig that there are about 4.3m shares out there - with IPO prices of 2.50-2.75L per share - i would have to sell almost all of my assets to cover it.

I am weighing options - but you are right - relistingt on another exchange is not an option for me.

I encourage you all to leave comments here, and attedn shareholder meetings, in order to have your say.


Zadruk Zabelin said...

Another Delicious Idea : )

What's the point in being distracted by the WSE while it's got it's shoelaces tied together...

You wouldn't cook the goose that laid the golden egg just because the chicken run was fooked so please don't sell up and buy back all my shares, I was kinda hoping for some more dividends...

Sheesh it's always me me me, with me.

Wiseguy Capra said...

Hey Delicious, you said in your comment "I be talking to shareholders to see what their thoughts are". Be careful on that cause Luke actually de-listed companies who did that claiming it was a breach of the WSE constitution for doing so and CONverted their shares and funds to WTF. Shame to see that such a business as yours is leaving the WSE even I never had shares in your company. Best of luck though for the future.

Wiseguy Capra

Delicious Demar said...

Hi Wiseguy - hilarious post on SLX btw... :-)))

I don't really understand the warning though - I have delisted from WSE already... I'm not subject to its constitution. Well, I am still going to be an investor on the WSE - it's fun - so in that sense I suppose I am - but DDE is not.

and besides - the conversations are likely to be quite bland - we just need to decide on a fair way to run DDE publicly, privately, if you know what i mean... I don't intend to entertain discussions about the WSE or people's thoughts on it - none of that really has any bearing on the future of DDE.