| Dawes Financial Corp (DFC) News:
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2008-05-06
Where has DFC been?
Building a solid base for the virtual future. |
Dawes Financial Corp is and has been alive and well. In light of the flying rumors surounding the fall of AVC I decided to withdraw the IPO of Shop Virtual Worlds (SVW). To some there was an impression that I was only looking for more money from investors with this IPO. This was not the case. The purpose of the IPO was to generate funds to speed the development of SVW, and to provide an immediate return to DFC investors on the investment that was already put into the development.
The main problem that has faced DFC was that there was immediate pressure to provide large dividends or share buy backs. As a new company these expectations were not viable. There is a common issue surrounding companies listed on the virtual exchanges in Second Life. Stock prices can be controlled by a small few investors. Day traders often try to keep prices down so that a smaller split between bid and asking prices can allow for higher gains. There is also a misconception that a public company from the onset of it's listing is to begin doing share buy backs. The purpose of listing as a public company is to generate funds for growth. To use profits for share buy backs is counter productive to this.
So where is DFC now? We are building a base for the future. DFC is the leader in Central Grid region sales and management. OpenSim grids like Central Grid are the future for virtual world users. With the land rates available and the features to OpenSim growing daily Central Grid has seen a large growth in the last couple weeks. I put DFC in the front of Estate Management early on to be the name that everyone recognizes as they look to purchase their region. Shop Virtual Worlds has not been discarded. It's development has slowed without the IPO as I have been doing most of it's creation on my own instead of commisioning it to a scripter. I am currently talking with another company about implenting their software to allow for SVW to import and deliver products from not only SL, but to all opensim grids.
I have not had near the presence in SL as I once did. This does not mean I am not working to build DFC. I can be found regularly on Skype with the user name Mike31 Dawes.
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