Second Life Virtual Sports Stadium Project
· Thank you for considering purchasing units in this Second Life project of mine.
· I conduct business as a sole trader in my own name – Glen Jansen, and am registered for GST – number 64-927-957.
· I am conducting this project as a way to show clients a unique way to use social media and 3D websites to promote their brand, as well as exploring new ways of conducting business.
· I invite you to purchase units within a virtual sports stadium in Second Life.
· The intention is to sell a maximum of 200 units at $100 each. If 200 units are sold, this will represent 50% of the Second Life project as I hold the remaining 200 units being 400 in total.
· I will purchase land and start to build a virtual sports stadium in Second Life. Any intellectual property on buildings or objects made on Second Life belong to the creator. Whilst the stadium is being built with the Rugby World Cup in mind I will be at liberty to use it to promote any other sporting, cultural or other event within the Second Life community. The wider the range of people drawn to this stadium the greater the chance I have of selling associated advertising revenue in the real world. For example there is an established soccer community of several thousand subscribers who may wish to play matches here.
· Any revenue received through the sale of advertising in the stadium will be split as follows. For example. Lets assume I sell to Company X advertising space on a stadium banner for a one off payment of $200+GST. I will firstly deduct the GST component as I am responsible for this to IRD. 50% of the remainder will be allocated to the unit holders as per the proportion of their purchases. This I will show in my accounts as commission payable. I will keep the remaining 50% and from that deduct any expenses.
· These units will not apply to the normal sales of my Empowerment Marketing course or indeed for any other 3D/social media projects that I may decide to initiate. However I may decide to offer my Empowerment Marketing course at a discounted rate to persuade the potential client to advertise within the stadium. Should that be the case then I will clearly show what proportion of the final revenue received related to my course, and which related to the Second Life project.
· I will make payments to unit holders every 3 months. Payment will be made via internet banking and where applicable will be less costs charged by my bank for these transfers.
· I wish to make it very clear that these units do not represent shares within my overall business, they are only for this one off Second Life virtual sports stadium project which will carry on until the end of November 2011.
· When this period is over, I will meet with the unit holders to discuss the next course of action. Possible options could be to sell the project to another business, or we may decide to renew and carry on, or even some individual unit holders may choose to sell their units. If the latter, then the sale of these units will be offered in the first place to existing unit holders.
· The intention is to make money for unit holders through the sale of advertising revenue within the stadium. In the unlikely event that no profit is made by November 2011, I will repay to unit holders the sum they paid for the units. This will be done through revenue raised by other activities of my business which will continue alongside this one off project.
Glen Jansen
