Skip Oceanlane (Carmen Dubaldi) owner of Capital Stock Exchange Game Simulation was caught breaking rules of his own game on reclaiming shares from inactive accounts.http://onlinecapex.boards.net/thread/79/skip-oceanlane-breaking-capex-rulesMore about how this sell off scheme that hurts all the stocks on the exchange game (and with that the whole capex game) while the fund (CEF) CEO Troy Tomasso (who was set up by Skip Oceanlane) is collecting currently 46.2% of dividends on shares sell off that by the rules of CAPEX should have been originally transferred to CEO's so that they could ether destroy them or make an IPO (this way stock value would be retained). Instead by doing sell off through CEF (Capital Exchange Fund) they are destroying the share value and tanking all the companies still remaining listed on Capital Exchange Game.
http://onlinecapex.boards.net/thread/76/game-company-dividend-performance-greatwww.onlinecapex.com/home/story/system/9464Today, 14:57 System Announcement
by Skip Oceanlane
Game Company Dividend Performance 2015/2016 - Great News!
Dear CapEx Members:
Since the August 2015 relaunch of Capital Exchange in which the game officially separated from Second Life, there have been many CEO's that have abandoned their companies unfortunately. In spite of these neglectful CEO's, many have overlooked the fact that there are game companies still paying a fantastic regular or semi-regular game dividend. I have compiled a list for everyone to view on game dividends paid since August of 2015.
To date at the time of this News Story from August of 2015, game companies have paid CD$4,076,593.94 to CapEx shareholders! This amount includes final dividends paid out to delisting companies, or CD$ provided for free by myself. This is still a significant number, and I believe this amount will rise in the future with new companies coming on board to join the remaining great companies still listed within the game.
Here is an interesting fact - two of the biggest game dividend payers, Troy Tomasso of CEF and LeaPatrizia Zemach of DMWA did no Initial Public Offering (IPO) of game stock. They took over assets abandoned by others, and "made something from nothing." Everyone should thank these two CEO's especially for their tremendous dedication to their shareholders for paying a combined CD$1,100,000.00+ since the relaunch.
Here is the list from highest to lowest in total dividends paid to shareholders from August 2015 to April 2016. Companies currently halted for non-compliance are not included in this list.
Company and Ticker Symbol/Dividends Paid In CD$ (Since Aug 2015)
Consolidated Equity Fund (CEF) $566,543.08
Dead Men Walk Again (DMWA) $552,962.47
CapEx Stock Fund (CSF) $274,995.98
Oceanlane Enterprises (CAPX) $185,000.00
Edmose Group (EDMO) $157,499.48
Dover Business Exchange (DBX) $82,415.64
Dragon Holdings (STAR) $45,750.10
Verballis Translations Serv. (VBL) $22,500.10
EVO Breeding Co. (EVO) $8,088.99
AP Holdings (APH) $7,500.06
Virtual Tallinn Merch (VTM) $3,404.55
Pradeep Planer's Holdings (PPH) $2,502.52
Redux Technologies (RDX) $2,500.08
Virtual Retailers (VRS) $2,500.00
Hostcrate (HCS) $2,499.95
Thank you to all the CEO's who have paid a dividend recently, and thanks for being a part of Capital Exchange.
Skip Oceanlane, CEO
Capital Exchange
www.onlinecapex.com How is paying $CD left from inactive accounts combined in CEF fund creating something from nothing? Why is share price tanking despite hefty dividends?
Troy Tomasso (CEO of CEF):
I presume (and hope) that these are rhetorical questions. For those who cannot see the obvious, the ratio of received to paid out dividend was less than 20%, in other words CEF paid out more than 5x it received in dividends. CEF never received cash or other assets from defunct companies other than stock that was in the portfolios of those defunct companies. So I sold off some of the stock to pay to shareholders the dividends I promised, and in addition CD$ were purchased with proceeds of Troy Tomasso Marketing. The drop in share price is the result of the overvaluation of the assets per share value at the time of the launch, the large number of shares (17 million plus) and the reduction in CEF assets over time.
Troy
From the CEF prospectus written by Skip Oceanlane:
Welcome to CEF: Welcome to the New Consolidated Equity Fund (CEF). This game fund was created using reclaimed assets from inactive accounts, as well as assets of its current CEO, Troy Tomasso. Let me explain the history behind this new game company.
Skip Oceanlane never disclosed stock names nor the quantity of specific stocks that were in those "reclaimed assets from inactive accounts". So unfortunately it is not possible to verify any stements. In the name of transparency Skip Oceanlane can still create a report and define what exactly is/was in those "reclaimed assets" and how many inactive accounts there were exactly.
Troy if what you are saying is true then CEF has only received the different stocks from inactive accounts.Correct? Can you disclose what shares exactly has CEF received? With most of the companies that had normal to high trade liquidity (populated limit orders by shareholders) being gone from onlinecapex.com (due delisting for inactivity or delisting by force by Skip) what shares exactly are you selling on Capital Stock Exchange Game. And if you are really doing that isn't your selling off those different shares (the suppply/sell pressure) responsible for tanking their shares prices? Is this the reason why we see all those companies who still remain listed on capex game in red all the time? If you are really doing that then you're actually doing a major sell off.
All companies marked yellow are on trading halt due price fluctuation (on 1 day halt because price / share value is going down too fast, a sign of massive sell off).
On one side you're paying dividends from sell off those assets/shares (ofcourse retaining your share currently 46.2% of dividends for your personal profit) on other side by doing that you're actually depleting all the share prices on Capital Exchange Game and making profit of that. Which could be also seen as killing the game slowly.
...The drop in share price is the result of the overvaluation of the assets per share value at the time of the launch, the large number of shares (17 million plus) and the reduction in CEF assets over time.
Should not the CEF share value grow in expectation of such hefty dividends in future?
From the CEF prospectus written by Skip Oceanlane:
The amount of start assets brought in was about CD$4,000,000. Combine Mr. Tomasso's assets of just under CD$2,000,000, and CEF has a solid start. I based stock value on the original IPO price for each delisted company. I thought about doing it at the 90-day closing price average, but some company's stock had become so devalued from absent CEO's that their shares would almost be worthless at those prices.
Again Skip Oceanlane didn't define what exactly the "assets brought in" transferred from inactive accounts consists of. Thank you for filling in a blank Troy (so now we know it was only shares from inactive accounts).
However by doing that Skip Oceanlane has been actually breaking the rules of (his own game) Capital Exchange Game which say that reclaimed shares form inactive accounts go to company CEO's who operate the shareholding company and not any 3rd party fund:
Capital Exchange Game (onlinecapex.com) RULES:
https://www.onlinecapex.com/content/listrules102) Reclaiming of Shares
Once an account is determined to be Inactive:
A) Shares held in a particular company are returned to the game company for holding. This is called "reclaiming of shares" or "share reclamation." These shares will be considered "Treasury/Company Shares" and will be locked for a period of 6 months.
B) An account holder has 6 months from the date of share reclamation to request a reinstatement of shares.
C) If the owner of the inactive account does not return to reclaim the shares within 6 months, they will be considered fully Company Owned shares. CapEx recommends these shares be held in a company alt Game Alias account. If no company Game Alias account exists, then the CEO will hold the shares in his/her Game Alias account as locked Treasury/Company Shares, and the number of Treasury/Company Shares will be denoted on the Prospectus/Company Page. These shares may become unlocked if the company already meets the 50% plus 1 threshold for locked Company Shares.
I presume (and hope) that these are rhetorical questions. For those who cannot see the obvious, the ratio of received to paid out dividend was less than 20%, in other words CEF paid out more than 5x it received in dividends. CEF never received cash or other assets from defunct companies other than stock that was in the portfolios of those defunct companies. So I sold off some of the stock to pay to shareholders the dividends I promised, and in addition CD$ were purchased with proceeds of Troy Tomasso Marketing. The drop in share price is the result of the overvaluation of the assets per share value at the time of the launch, the large number of shares (17 million plus) and the reduction in CEF assets over time.
Troy
So if your CEF fund receieved all the stocks (which was a direct violation of Capex rules by his own owner Skip Oceanlane) what exactly has happened with the $CD funds from those accounts?
We know that about 2 months ago he sent $CD 2000 to every company still listed on Capex to pay it as dividends to their shareholders. But with currently 18 listed companies on Capex this is 18 * 2000 = 36 000 $CD (very small amount)
Even if since 2 months ago additional + 5 / 10 companies were listed this is still very small amounts of funds that inactive accounts supposedly has in their accounts all together totally.
It is very hard to know the truth behind recent actions of mr. Skip Oceanlane as he has been doing things out of any controls in shade with no transparency that slcapex.com was once known for. For example for every and any major decision in capex game whole team of CERC (commission members) held meetings and took decision together.
If he was breaking Capex Game rules about inactive accounts so ignorantly what other rules has he broke? (this is a question that we know noone will answer).
Troy we would like to thank you for sharing some information on this forum and shining a bit of light on things. In spirit of transparency of CEF that you are currently manager of maybe you could provide a report of what assets exactly (share names and amounts) did your CEF fund receive (even though this was a violation of capex game rules as shown above).
Thank you for being part of this forum and for providing the answers. Hope you can answer our question above (create report) to enable transparency on this matter and also we're interested to see your view on all this. We believe that wide public and all the participants (ex and current) of Capital Exchange Game are interested to find out what exactly are you paying the dividends on.