Ginko Liquidation Plan Update
Posted by Shaun Altman Fri, 02 Nov 2007 11:14:00 GMT
This is just a quick update to let the community know that I'm pushing the date at which recovered Ginko assets will be documented back by a short amount of time. New facts and situations have come to light near the end of the asset discovery process, and I feel that it is in everyone's best interests if I take some time to explore said facts and situations fully. What does "A short amount of time" mean? I'm not sure yet, but I would imagine a few days to a week.
I will circulate a press release, as promised, documenting what I have recovered, just as soon as I am positive that I have recovered as many assets as we can reasonably expect to. The best thing that Ginko victims can do right now is be patient as this process unfolds. At this time, I am also recommending AGAINST Ginko victims selling the shares that you were given in the WTF fraud fund at World Stock Exchange. If you choose to sell these shares, it is possible that you will be unable to realize any benefits from this liquidation, as the buyer may realize them in your place. If you HAVE sold your Ginko bonds or shares of the WTF fraud fund, I am recommending that you buy those shares back, and hold ONE share of the WTF fraud fund for each L$1 that you had deposited at Ginko's bank until this liquidation is complete.
If you are reading this, and know others who had deposits at Ginko's bank, please ensure that they read it as well. If you are a Second Life media organization that is carrying my press releases regarding the Ginko liquidation plan, please feel free to link to and quote from this article.
Please note that I am not in any way affiliated with Ginko. I am only a stakeholder, like yourselves, who is attempting to pick up the pieces by recovering and liquidating any in-world Ginko assets I can for the benefit of all victims.
Ah, so that explains why you've just sold 298,809 shares in WTF, and have approx 2,300,000 more available, just after the price shot up in response to this? Clever.
Of course, it totally puts paid to the idea that holding or rebuying WTF would be beneficial.
In fact, we have been a busy little bee haven't we? Buzz buzz buzz, buy buy buy. In fact, if I recall, you had about 8 million shares and now you have 10 million. Then you post that people who's sold should buy back in order to get a share of the liquidation, the price goes up, and it's buzz buzz buzz, sell sell sell.
Hi, Anonymous
I think I may need a new blog rule requiring commenters to use their avatar name. After all, I do. Also, have you read the blog rule regarding personal attacks?
Very observant though. In fact, the price shot up because I bought back the bonds that I myself had sold, as I've recommended you do. When I noticed other day traders doing the same, I decided use the shares I'd bought to establish a line in the sand to help prevent those who see this announcement late from having to pay the day traders a ton more than they sold to those same day traders for in order to get their bonds back.
In other words, I am risking a loss of 2 million bonds from my inventory to help others get their bonds back at around the prices they sold for. I realize that this runs contrary to fun conspiracy theories, but believe it or not, not everyone is out to get you. Unfortunately, I now have to remove my order, as it will be filled by day traders now that I have made my reasoning for it public.
Oh, I wasn't worried you were out to get me. After all, I already managed to sell my shares in WTF for more than they were worth as GPB at the time of liquidation, which doesn't make a whole lot of sense to me. But there you go.
Having your trading activities made public is all part of the fun of being on the Major Shareholders list, I'm afraid.
I just wanted to make sure people realised that you were being highly active in the market at the same time as making authoritative statements regarding what people should or shouldn't do, I doubt many of those left holding GPB after Ginko collapsed will know about all of the information available to them on WSE.