July 30, 2007 by Nobody Fugazi
Posted in
Update: Arbitrage Wise points out that Maelstrom denies involvement.
Yeah, you read correct. Ginko Financial is in IPO on AVIX. I don't know about this - it seems really shady to have an IPO on a competing exchange. This is especially true when Ginko Financial wrote the following in it's disclosure (emphasis mine):
You may have noticed that we have an investment in AIC, which owns a competing stock exchange to HCL, our main holding. As I looked into AVIX I was somewhat impressed by their system and decided to make a small trial investment. Our investment is and will remain small as we learn more about them and their CEO. As far as I can tell however, he seems like an honest, well intentioned and competent person. It's important to remember however that this is only my superficial impression, it should not be taken as charachter refference. Further investments into AIC are not high on the list of priorities, but the option has not been discarded.
Not high on the list of priorities, indeed - but given 2 listings on WSE - Ginko Currency Services (GCS) and Ginko Perpetual Bonds (GPB), as well as the fact that Ginko Financial has substantial investment in Hope Capital (WSE)... this looks like a bid to get quick cash to float the bank.
OK, I'll say it. It is a bid to get quick cash to float the bank - about 5 million Lindens. And the prospectus has no risk factors!
This is shady. This is ALL shady, especially considering the financial ties to WSE. How are investors going to get their return on investment? Is Ginko just going to start another brand of IPO as a service?
I must strongly wonder what AVIX staff were thinking by approving that IPO. Maelstrom Baphomet and Legolas Delgago have to have been on recreational drugs to allow this - but then, Maelstrom does keep saying that this is a game...
Will the real Slim Shady please stand up?
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The good thing is that AVIX
The good thing is that AVIX is implementing a new policy where CEOs have to disclose their personal information.
http://www.allenvestfinancial.com/home/story/AVIX/372
And AVIX being part of SLEC, would also require Ginko to disclose their sources of income.
It would be interesting to see what happens.
Is Ginko going to go transparent by complying with AVIX/SLEC polices?
Its clear the Ginko boss cant bail out without being charged in rl. There people already with his rl information: LL, paypal, bank accounts, domain registrations, web host, isp etc.
The IPO is shady, i agree. And I dont think he could raise 5 mil L$ in the IPO unless he provides substantial evidence of his assets thru a disclosure. The timing is not good for him.
Obi-wan
SLEC, SLEC, SLEC
I keep hearing about SLEC, but... I haven't been able to find anything out about SLEC. Do they have a website or anything, or is this a notecard based group thing?
It is located HERE.
It is located HERE.
I signed in a few days ago to a group request and declined because I really don't have room for anouther group and havent looked into it enough or decided that theres any real reason I need to join simply because they are the self proclaimed Stock Exchange experts or feel they have a way to show the ability of a company to do well or be legit.
Thanks, Sarah.
I'll look into them. :-)
Yeah ..
This is exactly why my comment yesterday was pure speculation.
Good read.
funny...
They didn't go to ISE...