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Since Second Life Creations (SLC), the result of a merger between 3 existing companies managed by Bob Perry and Mystik Boucher we've been searching for a way to bring the company back from the grave.

As we did for AVC, CGI, KFM, with the old management gone and denying any liability, we approached the major shareholder, to see if he could come up with some plan to save the company, a plan that had to be voted and approved by SLC shareholders. That's why we started talks with Spontaneous Rich, also President of Spontaneous Rich Investments (WSE:SRI).

After some talks and a good deal of time he came up with a proposal, which he submitted to the shareholders indicated in a list we provided. In short, the proposal was to bring CCI ( Carnage Center Inc) a privately held company to the VSTEX, launching an IPO and converting SLC shares into CCI ones. He asked the SLC shareholders to vote on 2 options:

1) accept the plan as it was sent them
2) do nothing.

Yesterday at late night (Italian time) we casually met inworld and he realized that Investor Merlin's assets in SLC were going to be given to Skip Oceanlane, ex vice president of Merling Investment Bank. This was the natural follow up to our announcement posted on october 22 here: http://www.vstex.net/?p=103&id=33

He told me he didn't like this, he questioned our right to turn over assets from Merlin to Oceanlane and basically it said he didn't want to give the assets to him. In a few minutes, he sent out another voting proposal, adding a third option that was about writing off any shares held by unactive (30 days or more) shareholders, turning them to active ones.

We feel that one shouldn't initiate a new voting procedure under new terms when shareholders are already voting on a proposal. He claims that he could not know about this transfer to Skip Oceanlane and that once we turn over the list of shareholders, it's no longer our business to interphere.

He also claims he lost way too much time on this issue, when he just wanted to help out SLC shareholders, since CCI did not need to have an IPO with the VSTEX or any other exchange (during the talks he said that many times).

Our answer is that he had no obligation to put forward a proposal. He decided to do it and we thank him for that. However, things should be done the proper way. We provided the shareholders list to him for his convenience, so he could contact the shareholders.

It's not up to him to accept or refuse any of the shareholders and asking the SLC shareholders to vote out other people doesn't look as a proper thing to do.

Also, SLC shareholders have still to accept the proposal sent to them. Nor Spontaneous Rich nor anybody else from CCI management can change the status of things. They can't decide which SLC shareholder is good and which one is bad.

In his last email he also stated that we let Mystik Boucher run away with over 300.000L$, have SLC bankrupt and allowed her to sell her sims.

We reject those accusations.

1) Mystik Boucher withdrew that amount of L$ long before SLC was declared bankrupt; the company was being effectively managed by Boucher's partner, Bob Perry. At that time it was an internal SLC affair.

2) Mystik Boucher declared bankruptcy status without a prior consultation with us. She posted an announcement and in a few minutes she was gone

3) We never had control over Mystik Boucher's sims, nor we had any way to prevent her from selling them. We just had no power, there.

We are now forced to end the talks with Spontaneous Rich, here representing CCI. We're willing to reopen them or to accept new proposal from other interested parties.

I'm available to give more details or information upon simple request.

Samantha Goldflake
VSTEX Communication and Public Relations Director
http://www.vstex.net