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Current Time:
01:33:30 (GMT)

Last 24 Hours:

Volume:
3,303,417

Value Traded:
L$2,790,801.08

View Prospectus

General Details

Company: Midas Developement Company (MDC)
Outstanding Shares: 1,100,000
Company Website:

Board of Directors

Chief Executive Officer: Midas Commons
Chief Operations Officer: Residual Overlord
Chief Information Officer: Ootje Timtam
Chief Financial Officer: Warren Tomsen

Prospectus

CEO's Real Life Name: Midas Commons
CEO's Real Life Location: Austin Texas

Cash on Hand: L$500,000.00
Land Owned: 0m2
Land Value: L$0.00/m2
Net Tangible Assets: L$500,000.00

Monthly Income: L$100,000.00
Monthly Expenses: L$50,000.00

Chairman's Letter

The Midas Developement Company is a spin off operation of Midas Bank. It is a venture capital/business developement unit that will support operations affiliated and subsidized by Midas Bank in association with the WSE and the private business sector.

Business Overview

The Midas Developement Company management team provides capital, logistic and executive support to Midas Bank investment projects.. It earns shares of the revenue from these projects commensurate with the capital it contributes.
Midas Bank and its subsidiary, Midas Developement Co., operates one of the largest venture capital operations in SL and there is a constant flow of projects in the pipeline. This will ensure a constant revenue flow for the Midas Developement Company's balance sheets. Midas Bank's private investment banking division will assist in carving out equity, creating divestitures, and providing capital influx for Midas Developement Company's operations in their various stages of developement. 50% of the profits will be repaid to investors in dividends initially to promote to the investing public the financial health of this operation.

Business Strategy

see Business Overview

Business Strengths

We have priority access to premier venture capital projects and busines developement projects.

Our management team are all important figures in SL. Midas Commons, the CEO of the company has a long track record of being a trustworthy and successful banker in SL. As CEO, he lends very strong credibility to this company. He also provides a large pool of resources from the ample connections he has in the SL business community as well as the capital available from Midas Bank.

Market Overview

The finacial sector in SL has just experienced its equivalent of "The Big Bang". Returns in this sector are sky high. The business developement and venture capital industries are overflowing with revenue and growth. This is the best time to invest in the history of second Life in its in-world financial companies and investment vehicles.

Use of Capital

Capital will be put to use right away on Midas Bank's cash competition projects and its associated venture capital operations that are associated with he WSE. The WSE will provide the company with continuing access to capital and provide its investors with a slice of ownership in the company and great potential for financial gains based on the company's future performance, its dividends, and capital appreciation.

Risk Factors

The risk factors for any business need to be balanced and hedged against. This business has identified one main risk factor to its financial health and in turn has ready a strategy to mitigate the risk. If the WSE experiences a drop off in trade volume and access to capital dwindles the business will have to turn to other means of financing. Midas Bank itself has the full means to provide fall back in the event that a transient or long term situation like this developes despite all indicators poitning against this. Midas Bank has the means to continue to provdie capital for the company as well as pay out dividens to investors through its asset management division and its patent SL-Funds. For more details contact Midas.
We do not see the WSE declining in strength but instead growing and growing. Therefore we do not expect this to become an issue. However, it should reassure our investors that should this very outside chance event occur we have the means to continue operations.

Management

Chief Executive Officer - Midas Commons

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

Chief Operations Officer - Residual Overlord

The senior manager who is responsible for managing the company's day-to-day operations and reporting them to the chief executive officer.

Chief Inforamtion Officer - Ootje Timtam

A company executive who is responsible for the management, implementation and usability of information and computer technologies.

Chief Financial officer - Warren Tomsen

This is the senior manager who is responsible for overseeing the financial activities of an entire company. This includes monitoring cash flow, cost, revenue and profit.






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