FOR IMMEDIATE RELEASE
STUDIO 777 Reports July 2014 Results; Shareholder Dividends Increase Over L$50,000 to L$406,894!
NEW YORK, NY and Second Life – August 7, 2014 — STUDIO 777 (CAPEX: FUN) today reported results for the month ended July 31, 2014, with Shareholder dividends increasing over L$50,000 (14%) to L$406,894. FUN experienced another historic month in July with heightened revenue and growth, new expansion, and great traffic. During July FUN completed a 50% purchase of the Ads-O-Matic fully TOS compliant group messaging and notice service; and FUN applied to become a Licensed Skill Game Operator with Linden Labs, retaining attorney Stevan Lieberman of Greenberg & Lieberman, LLC. L$900,000 of IPO funds were released from Restricted Assets for costs related to these expansion and growth opportunities. L$4,860,600 remains in Restricted Assets, part of the L$45,033,651 total Shareholder Equity.
Overall, steadily increasing revenue in all sectors including acquisitions and opportunities related to Linden Lab’s new Skill Gaming policies all came together this month to propel FUN to a new unprecedented level. Reflecting its positive long-term outlook and the momentum associated with growth and expansion initiatives, Shareholder dividends rose over 14% from L$353,192 to L$406,894. The dividend will be paid today to all Shareholders of record, to continue the intention that dividends will be paid on the 7th of each month.
Luke Slingshot, FUN CEO, commented, “We’re pumped that once again our revenue and profit increased, and we’re able to increase dividends to our valued Shareholders. It’s meant a lot to us that Shareholders have stayed the course. We will continue to execute on new initiatives and the Skill Gaming project which begins September 1, 2014. We’re excited about the future and thank our Shareholders, Team, Partners and friends!”
STUDIO 777 (FUN) July 2014 Financial Statement
Builds and Functional Objects L$250,000
Unique, Custom Made and Proprietary Objects L$250,000
Games, Contest Boards and Equipment L$30,000,000
Scripted objects L$250,000
Intellectual Property L$3,000,000
Transferable Objects L$100,000
Ads-O-Matic 50% Ownership L$500,000
SHAREHOLDERS EQUITY L$45,033,651
STARTING L$ BALANCE L$2,151,368
FROM RESTRICTED L$900,000
TOTAL REVENUE L$18,945,921
Ads-O-Matic 50% Purchase L$500,000
Skill Gaming Application Fee L$25,000
Skill Gaming Legal Fees L$375,000
Events and Comps L$351,044
Games, contests, incentives L$16,225,115
Percentage to Dividend: 70%
Dividends to Shareholders L$406,894
Retained Earnings L$174,383
ENDING BALANCE L$2,325,751
STARTING RESTRICTED BALANCE L$5,760,600 IPO Proceeds (1)
MOVED TO OPERATIONS L$900,000
ENDING RESTRICTED BALANCE L$4,860,600
(1) STUDIO 777’s IPO took place in June, 2014. Funds raised are to be used as discussed in our IPO Application (see http://slcapex.com/forums/topic/FUN/9405). For more information about Restricted Assets, please see http://wiki.fool.com/Restricted_vs._Unrestricted_Net_Assets
Number of Shares Outstanding 20,000,000
Net Value Per Share L$2.25
Earnings Per Share L$0.03
Dividends Per Share L$0.0200
Dividends Paid To Date L$760,086
ABOUT STUDIO 777: Since 2009, STUDIO 777 (CAPEX: FUN) has welcomed over 1 million Guest visits with over 50 million minutes spent at 777 in the Second Life virtual world. With 30,000 Group Members, over 1,400 Live Events with international DJs & L$ prizes, 50 Mall Stores, and L$250 Million Linden won by Players and Guests, STUDIO 777 has gained a reputation for trust, integrity and fun. 777 has been ranked third highest in traffic in Second Life and honored to be named Second Life’s #1 Skill Gaming Nightclub & Resort. Visit STUDIO 777 in Second Life at http://slurl.com/secondlife/Sol%20Hermosa/114/93/35 Twitter @Studio777Club and on the web at http://www.Studio777s.com.
ABOUT CAPITAL EXCHANGE: Capital Exchange (www.slcapex.com) is Second Life’s largest stock market simulation game. In the last 12 months over L$120,000,000 of virtual stock within the game has been traded. Skip Oceanlane has been the Capital Exchange CEO since January, 2011.
ABOUT LINDEN LAB: Founded in 1999 and headquartered in San Francisco, Linden Lab makes shared creative spaces that inspire and empower users to explore and share their creativity with others. For more about Linden Lab, its products, and career opportunities please visit LindenLab.com.
Safe Harbor Statement:
This document contains statements which may constitute forward-looking statements. Those statements include statements regarding the intent, belief or current expectations of STUDIO 777, members of management, and assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Capital Exchange is a fictional stock market simulation game operating for entertainment and educational purposes only. All activity regarding Capital Exchange is governed by CapEx’s disclosure statement athttp://www.slcapex.com/content/disclosure and full rules for CapEx participation are at http://slcapex.com/content/info.
Copyrights and trademarks are STUDIO 777 Partners. All worldwide rights reserved. Second Life is a registered trademark of Linden Research, Inc. All trademarks, product data, logos and copyrights are the property of their respective Companies and no endorsement is implied. STUDIO 777 is proud to be equal opportunity and welcomes all applicants.
For STUDIO 777: Luke Slingshot, KariAnne Starsmith
In world: Luke Slingshot, KariAnne Starsmith
Email: Mr. Slingshot: lukeFLL@gmail.com, Ms. Starsmith: email@example.com
SOURCE: STUDIO 777