Sunday, March 30, 2008

Initial Buyout Complete

It is done...


The initial buy back of shares was completed today - with some last minute messages from some large investors that wanted to cash out, the number of shares bought back today swelled to almost 750,000 shares, and I distributed almost 2,000,000L to shareholders. That's a LOT of zeroes!

First, I want to thank three investors who made this possible by providing more than half of the cash necessary to do this buyback, and have thereby increased their stake in the new DDE.

Second, there are a number of shareholders whose accounts no longer exist in SL - or who have not logged on for over three months (yes, I checked them all - lol). I did not buy shares from these accounts (which total about 22,000 shares or about 0.5%), but am keeping the money in reserve as I try to ascertain their status - most of these shareholders have few shares, but I do not want to throw money into dead accounts, so it is worth a bit of time to try to contact those that I can.

Third, I am going to post a new list of shareholders and their holdings tomorrow - I know I promised it today, but I don't have all of the final numbers yet, and want to make sure that it is right before it is posted. I will be posting specifics about how many shares were bought, from whom , for how much. Although I am sensitive to the privacy of my shareholders, at this point I think the need for transparency outweighs it, and i want everyone to know exactly what I am doing every step of the way.

The last 10 days since DDE delisted from the WSE have been... a whirlwind. I have been overwhelmed by the support shown to my by my investors - whether they continue to hold shares in the company or were bought out today - you have all been wonderful. I will continue to work hard for you to maximize the value you get out of being a part of my little business.

Today I am sad, as I learned yesterday of the passing of my friend, Geyl Fapp, who died too young, but left a legacy of hope and trust for us in SL. She made me realize that all of this means nothing if we don't treat each other well, and seek friendship and love and community in Second Life.

Please visit the memorial site for Geyl and see what this remarkable woman created to mark her own passing.

Thank you all for being part of the DDE family and community. In Geyl's memory, let's always remember to treat each other well and work together for the common good of all.


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