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Current Time:
01:29:00 (GMT)

Last 24 Hours:

Volume:
3,303,472

Value Traded:
L$2,790,978.08

View Prospectus

General Details

Company: Midas Fund Management (MFM)
Outstanding Shares: 9,900,000
Company Website:

Board of Directors

Chief Executive Officer: Warren Tomsen
Chairman: Midas Commons
Chief Technology Officer: Ootje Timtam
Chief Operations Officer: Pelanor Eldrich
Vice President: Miles Market

Prospectus

CEO's Real Life Name: Private
CEO's Real Life Location: Private

Cash on Hand: L$100,000.00
Land Owned: 3,936m2
Land Value: L$180.00/m2
Net Tangible Assets: L$808,480.00

Monthly Income: L$0.00
Monthly Expenses: L$0.00

Chairman's Letter

Dear Shareholders,
As chairman, I invite you to buy stock with us and share in our profits and success as a member-investor in one of the SL financial world's heavyweights. If you are interested in this company feel free to contact me and visit our headquarters at Empire Fund Management HQ., Lorrey (150, 103, 31). We are honored to be positioned through our IPO as the elite of the fund management groups in SL. We will be one of the powerhouses in the financial world of SL and we will take our role seriously. We will provide stability and credibility to the markets we participate in and we will be rewarded in this endeavor with capital gains and dividends for our fund holders and share holders alike.
We have a great team assembled on both the front end of things, the business, conceptual and client interaction side, as well on the back end, the tech side of the equation. The bottom line is profit. It is profit for our corporation, our shareholders and our clients.
The chairman of the board has the job to protect shareholder's interest and see to it that they recieve their appropriate share of the corporation's success. I predict large capital gains for our share hodlers based on our superior performance, our superior tech, and our highly valued products and services. Dividends will be a constant for our shareholders and this will top off the value in our shares.
Our services are elite, and we expect the smart money to be with us. The board of directors at Empire Fund Mangement will see to it that the smart money continues to be in our corner as we move ahead and that people recieve large returns on their investments.

Regards,
Midas Commons

Business Overview

Company Overview
Midas Fund Management operates in two segments out of our headquarters in the Lorrey sim and our affiliate divisions. It operates a fund management services division and an in-house equity trading and investments program.
The fund management services primarily focus on virtual mutual fund management services. These virtual mutual funds are like real world mutual funds but invest solely in the rapidly growing virtual public stock and securities markets inside SL. Other investment management services include a range of virtual investment advice and investment tools for individuals, companies and brokerage houses that operate in the virtual world of SL. We also plans to offer record keeping, data analysis, and distribution services for affiliate institutional clients.
The inhouse equity trading and invesment segment acts as leverage for our fund management segment. The goal is to amplify our total net asset value. It operates a strategic trading strategy and a conservative proprietary principal investmet program. We also offer clearing house products for large security investors, i.e. we will help facilitate buys and sells of large blocks of inventory. This side of our operation also plans to offer interest rate based financial prodcuts and hedging products for investors to curtail risk on their investments.

Business Strategy

Midas fund management owns a proprietary open-end fund database technology. This technology can be used to implement an open-end share structure for a publicly traded managed fund. People can buy and sell shares using this technology and not effect the share price through supply and demand pressures. The fund goes up or down in value as the net asset value, or NAV, appreciates. Investors buy shares at the current NAV per share. "Open-end" funds allow unlimited investors to buy into a fund as opposed to a closed end fund which have a limited amount of shares. Each open-end fund is theoretically opened to unlimited investor cash. This open-end fund structure characterize most mutual funds in the real world. The database behind this technology is among one of the few of its kind in SL. The database allows for networked info display and execution all over SL for each fund that it runs. The technology was professionally scripted and programmed by a team at metaverstility, one of SL's elite program and scripting companies. The value of this technology is estimated at 700,000 Lindens.
Our goal is to provide at least 10 funds that invest exclusively in the SL stock markets. We will offer sector funds ,such as real estate stock funds or gaming stocks funds, diversified funds, value funds, and growth funds. All these funss will invest 100% in SL stocks. We will have additional funds for hedging risk in currency and fixed interest funds for more conservative investors that will simultaneously help our proprietary trading program to leverage and hedge its own positions. We expect at least 10 million lindens under management in the first few months of operation.
Our plan is to use our technology and mangement team to offer A quality funds and then use a promotion and marketing strategy to ensure that the SL public takes interest. This is a recipe for success.
We will use affiliate fund programs to employ people to work for our company on commission basis who will sell our products and services. Netwokring is one of the keys to making a profit in SL and we plan to network our management structure, our employee structure and our terminal location structure. We foresee a long extended, winding network that will extend from our database and inworld HQ through out all of SL. We reserve about 5%-10% of our cash flow for our affiliate brokers that we will hire to help us sell.
In addition with our marketing media campaing, and good word of mouth we expecrt to see large investments into our funds which will in turn aprreciate in net asset value. Fees will be the bulk of revenue from the fund management division. We expect roughly equal amounts of revenues coming from our in-hose trading. Revenue reinvestment into in-house trading will compound our gains.

Business Strengths

-Our key strength is in our fund management scripts and technology. We currently own a monopoly as the sole large scale open-end fund service provider. We are the only group who can provide legitimate mutual funds with our patent technology!!!!

-We have substantial credit available from Midas Bank, one of SL's premier investment banks, to use to spot opportunity and grow quickly in a dynamic environment. This tremendous financial backing is unique in our industry.

-We will be the only fully technologically integrated, large scale asset management company in the financial sector and the asset management industry in SL when our IPO is complete. We do not know how long this will last but it is a key strength and we will look to buy out competitors to prolong this status.

Market Overview

-Our major customers will entail small and large investors from the SL public. Our other customers will include key banking institutions in SL as well as small businesses with an eye to take advantage of their working capital. We intend to service the financial exchange industry to facilitate mutual fund buying and selling as well as to offer advanced financial products to enhance the liquidity of the market and reduce systemic risk.
-Currently we are the only asset management company in this industry in SL. We will take advantage of this to create a brand with long lasting strength and power.

Use of Capital

USE OF CAPITAL
-30% of the capital we raise will go into technology CAPEX. We will spend on advancing our fund technology. We will make the in-world interfaces more usable and secure the back end database. We already have 75% of the technology in place to offer both open-end funds and , if needed, closed-end funds. The systems need some upgrading to integrate it into a streamlined single product that offers user friendly services to our clients. The tech budget will also include funds for developing a professional website with charts, info, and past performance history for our funds.
-20% of our capital will go to marketing, advertising and promotion. We will have our own media services explaining our market outlook. This system will interact with our web service and appear in world as well. We will hire Sl professional advertising agents and make sure our name and brand is developed and displayed. We are keeping SUN media in mind as one possible component of our marketing team.
-15% of our capital is reserved for starting managerial salaries.
-We plan on using 35% of IPO money for proprietary in house trading and working capital.

Risk Factors

-A extreme decline in the state of the overall SL economy will weaken our ability to leverage capital for financial asset control. This scenario would entail large scale pullback in liquidity in SL financial products and services.



Management

Warren Tomsen - Chief Executive Officer.

This is the senior manager who is responsible for overseeing the activities of an entire company.

Midas Commons - Chairman of the board of directors

This person acts as the key representative of the stockholders to establish corporate governance related issues and to make decisions on major company policy. Such duties include the hiring/firing of executives, dividend policies, and deciding executive salaries.
In addition to his chairmanship duties, Midas will be actively engaged in managing the funds for Empire Fund Management. In RL he is a veteran stock trader on the US stock exchanges.

Miles Market - Vice President

This peson operates to help make decisions with the chairman of the board of directors. This role is occupied by major stakeholder in our company. In the case of EFM they are non-managerial but may be consulted in strategic decisions.

Ootje Timtam - Chief Information Officer/Chief Technology Officer

This person is responsible for the scripts, programs, websites, and in general all the computer based applications of the company. This person also oversees the management and usability of the information available to the company through the database.

Pelanor Eldrich - Cheif Operations Officer

This person will monitor the day to day operations of EFM. He wil be involved in the day to day management of EFM funds along with a team of research/fundmanagers.





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