NEW YORK, NY, June 24, 2014 /24-7PressRelease/
-- STUDIO 777 (CAPEX: FUN), the #1 Skill Gaming Nightclub, Mall and Resort in the Second Life virtual world since 2009, announced today that it has closed its previously announced initial public offering of shares of its common stock. STUDIO 777 sold 4,000,000 shares in the offering, representing 20% of the Company, resulting in net proceeds of approximately L$5,760,600 Linden Dollars after deducting the underwriting commissions.
The shares are expected to begin trading under the symbol "FUN" on the Capital Exchange Stock Market Simulation Game on Monday, June 23, 2014 at http://www.slcapex.com/trades/symbol/FUN
FUN is comprised of several successful enterprises: A Dance Club, JOBSTAR Job Center, 777 Shopping Mall and Skill Gaming Resort. The Company has been profitable since inception in 2009 with tens of thousands of customers. At STUDIO 777, Guests play games, win and earn Lindens, socialize, enjoy great music and dance, experience a unique location with stunning graphics and bright visuals, find a job, shop, take a bike ride -- or even a rocket ride.
While in accordance with Linden Research, Inc.'s Terms of Service there can be no guarantees, the Company intends that investors will receive percentages of profits through monthly L$ dividends and with demand the price of shares will rise, creating more investor value. Currently, the Company has monthly revenue of L$10,000,000 and expenses of L$9,800,000. The Company's IPO application is at http://www.slcapex.com/home/story/system/8182
Capital Exchange is the #1 stock market simulation game within Second Life. With over 22,000 accounts and L$30,000,000.00 on deposit, the FUN IPO has been the largest ever to list at Capital Exchange.
Second Life is an unprecedented platform for creativity and social engagement and STUDIO 777 is honored we've been one of Second Life's most popular destination since 2009," said Luke Slingshot, Founder and CEO of STUDIO 777. "We are grateful for the support and encouragement of our Team, partners and investors. The completion of the IPO means Players and Guests will be seeing new projects, more events and contests, and Shareholders will share in 777's success!"
Joining CEO Luke Slingshot and President KariAnne Starsmith on FUN's Board of Directors is Glaznah Gassner, the trusted and successful CEO of Smartbots (CAPEX: BOTS) and Earn2Life (CAPEX: EARN). Mr. Gassner commented, "I'm really proud to be a Board Member of STUDIO 777. My companies (both EARN and BOTS) have been working with FUN for years, and Luke is one of the most reliable partners I ever met. I've seen a lot of business owners coming to Second Life and then leaving. Luke is running his business non-stop; he developed his club from a startup to a huge venture completing this outstanding IPO. Second Life really needs such people like Luke and his team, and active businesses like STUDIO 777."
ABOUT STUDIO 777: Since 2009, STUDIO 777 has welcomed over 1 million Guest visits with over 50 million minutes spent at 777 in the Second Life virtual world. With 30,000 Group Members, over 1,400 Live Events with international DJs & L$ 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 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 press release 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 at http://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