Good start for ESN, bad start for Ancapex
ESN, Express Shopping Network started really amazingly!
It sold out in IPO FAST! and current price is 26L$ per share! With first bid being 9L$ per share.
That means, the 180,000L$ investment SLIB made into ESN multiplied itself immediately!
I also hear from some end users that ESN can be very successfull indeed. Future will show. I will post the catalog today to SLIB group for you all to see.
However, Ancapex STUNS me with incompetence!
Amazingly incompetent launch!
Their place is BIIIG and NICE, it’s an awesome build indeed, i like the place, even tho it’s too big.
However, ATMs look like some slot machines, the info notecard given is well… While being kind of good marketing and professional, it just stinks like an poor MLM (Multi-Level Marketing) scam.
Furthermore, website graphics are a HUGE disappointment, they look like 1996 amateur work, those parts what are custom that is. Font choice also was poor: C looks like an T, and the header graphics is incomplete, it starts to repeat on full width! Furthermore, it has an ACE card on it, hinting of gambling. Header graphics also brings in mind Las Vegas.
Is this the image Ancapex wants to give? That they are a gambling institution? “Join our STOCK EXCHANGE TODAY! It’s COMPLETELY LEGAL GAMBLING! Wohoo! Gambling Ban does NOT reach us because we do not use computer random elements! And like all good gambling: Odds have been rigged towards the house! So Most likely you loose your money and we get that money!”
Also, they do have false advertising too, just see http://ancapex.net/home/story/system/10 claiming other exchanges make wihtdraw limits. Yes, one does, that being SL Capex, which apparently use Capex funds to fuel their banking (Which apparently looses a ton of money!). However WSE nor VsTex, and afaik ISE neither has any such limits. WSE never has had (or well maybe except when money was stolen from WSE, not sure if they even had a temporal one!).
This is blatant false advertising, trying to impose others are weaker and others use YOUR money to make money, thus imposing limits. That is total false advertising, and in RL world that would be punishable and illegal. Furthermore, they talk about “How can you afford to pay such high interest?” at http://ancapex.net/content/faq
Also, ACE IPO has been launched, with 16million total shares, and 7,700,000 launched publicly. Making sure IntLibber has over 50% ownership. However, on what is this 16million L$ value derived from?
Cash on hand is 275,000L$, Land 40,200sqm and total assets 3,020,000L$. Giving land a generous 10L$/sqm value, makes it worth 402,000L$. Money & Land = 677,000L$, where is the rest of tangible assets? 2,343,000L$ of them. Last i checked, software, builds etc. are not to be counted in it. Did BNT really pay that much for building, software etc.?
Or did they value that 40,200sqm to 2,745,000 OR 68.28L$/sqm? Interesting isn’t it?
Using 3,020,000L$ as tangible assets would make a NAVPS of 0.18875L$. (Net-Asset Value Per Share). Or using the real and SHOWN tangible assets of total 677,000L$ making a NAVPS of 0.0423125L$ !
Tangible assets contains of easily liquidable, common assets like Land, Money, Stocks. So i believe they have calced in things such as Software, Building, Marketing and Brand(which in 99% of cases is a figure made completely up).
Furthermore, they’ve already had some technical issues, read http://ancapex.net/home/story/system/17 , there they even admit that system was originally sold for SL Capex. Some sources claim they bought the system from Allenvest directly, making Allenvest sell the software to couple different buyers. Did BNT really also buy from a known scammer? So did JT Financials too, Arbitrage knew well before who Allenvest really is, and have even said will never buy from him again, after being once scammed by Allenvest wanting to buy one stock exchange.
Ginko wanted to first buy AVIX, then SL Capex did, now BNT bought the system too. Interesting? To every direction is some lies, deceit etc. What really is going on? I do not know, but i know that there’s a “let’s make an stock exchange!” frenzy going on.
Their second ever posting is also quite funny: http://ancapex.net/home/story/system/2 They make you believe that they are market leader from almost day one! Others are following them? sure.
No one is market leader from day zero. Simply no one. That’s ultimately an impossibility. Without proven track record, you cannot be market leader. Besides, they mix terms up there, market leader stands for “the company or brand with the largest share of a market niche for a particular product”.(source: Dictionary.com) Do they have largest share? Definately not. In it’s dedication to customer service and satisfaction? They have the same basic ticketing system than SL Capex 
Hardly leading … They have that and the basic support of IMng “ACE BnT”.
Oh this is not all at all!
I started this article for ESN to start good. Guess what? I’ve still not received my shares! ACE told that they are having some technical issues transferring the shares. Yet they have made some share transfers in the past, and now they got troubles with that?
They promised yesterday around 9PM my time that it will take max 3hours. 0 of ESN shares has been transferred to their owners who bought in pre-IPO as far as i know. It’s now almost 2PM the next day, and still no shares.
Please keep the waiting, well… WAITING! That’s the way how some big companies has shown us to lead in customer service! So that HAS to be how you lead in customer service!
Full Disclosure: I did not write this post to be an jackass or make slander, neither i am angry, like many would love to point out to make some slander (again) about me. So here’s my griefer pre-emptive disclosure! 
This was written with all due respect to intLibber Brautigan and other people involved in ACE. Hell, even Google fails at times! How many of those google products you have even heard of? Some of those are simply bloated, while some are just useless! No one can get it always right. Not even Steve Jobs.
UPDATE: Finally got earlier today my shares of ESN
(We feel this press release is in the right place here)
Today, the ACE (Ancapistan Capital Exchange) company prospectus was brought to our attention. Since the ACE website is still unavailable, we found a copy of the aforementioned prospectus in Google’s cache.
http://209.85.129.104/search?q=cache:9QFGSdN0xKQJ:www.ancapex.net/symbol/ACE/profile
From there we read:
[i]“There are now four stock exchanges in SL, WSE, SLCapex, ISE, and VSTEX. However, none of the newcomers have caught on sufficently to raise the bar for exchanges in SL, or done anything to bring new capital into SL.”[/i]
We don’t know if “we raised the bar” and actually we don’t care. To us, securities markets are not a competition between stock exchanges. Our aim is to provide a robust trading platform where businesses and investors can meet. When one of our “competitors” moves in the direction of safe, fair and honest business, we commend it for we do care about the SL financial community as a whole.
As for bringing new capital into SL, we believe that so far our job was pretty good. The VSTEX is now buzzing with activity and our trading room is really growing. Right now we have 6 companies in pending status, waiting for their IPO to start. Not to mention the fact that we’re the only ones so far catering directly to the Italian community and day after day new investors enter the financial market.
We also read:
[i]“The other exchanges do not understand why exchanges must exude a sense of stability, security, trustworthiness, to inspire the public to feel confident in the market and their investments there. Nor do they understand or accept the need for a higher authority, albiet a laissez faire one, to be a check on potential excesses, to set standards of behavior, and to enforce contracts.”[/i]
We wonder from where they get the idea that other stock exchanges do not want stability, security, trustworthiness. Because they refuse that “higher authority”? We speak for ourselves and we say that an authority is needed when the actors do not want to self regulate themselves. Over at VSTEX we place stability, security, trustworthiness at the very first place. In order to achieve those targets, we do have our own rules and we’ll happily adopt any rule from any real virtual or real stock exchange that will help us in that endeavour. Who wants to, can carbon copy our rules.
Then:
[i]“any company needing a full sim of land must buy their sim through the Ancapistan estates, so that ACE can protect the assets of its investors via contract enforcement. If a company goes out of business, their land can be reposessed for disposal to repay investors”[/i]
That may be a viable option to protect investors, however kinda turns the stock exchange in a sort of “land baron” and forces a land monopoly over listed companies. That’s not a thing everyone is comfortable with.
The VSTEX is against this kind of documents, where competitors are put down with no good reason and where facts are twisted. We feel that such low marketing tacticts should be left to “Honest John Used Cars” kind of businesses.
Apologies to all of the honest Johns selling used cars…
Samantha Goldflake
Vstex Communication and Public Relations Director
http://www.vstex.net
Comment by Samantha Goldflake — November 6, 2007 @ 1:27 pm