The Virtual Scottish Highlands comprising the sims of Inverness City, Urquhart and Augustus is owned by a group of shareholders. These pages provide details for existing and prospective shareholders.
Occasionally shares may become available depending on members individual circumstances.
Shareholders will share in the profits of the sim, but will also contribute when the sim makes losses so do keep that in mind.
This website provides a clear introduction, details of the business model, comprehensive prospectus and details of ongoing profit and loss. We expect to move into profit mid to late 2009.
Holding a share is a great opportunity to have a stake in the Virtual Scottish Highlands sim.

                                                       Note: UK English spelling has been used on this site.

NOTE THAT THIS WAS WRITTEN IN FEBRUARY 2009 although figures have been updated

This is the prospectus for taking a share in our SL Loch Ness Enterprise. I have tried to keep it straight forward. If you have questions send an IM to Gerald Wylie in-world and I'll get back to you as soon as I can. Alternatively send an email to Tony @ Harmsworth.net and use "SL Sim" in the subject line.

The Situation:

We had a 16,000sq m. sim on the mainland which we operated on an experimental basis for about a year. We had a major sponsor lined up to finance our move to a much larger sim then we got delayed owing to SL changing their OS (Open Sim) pricing and operating policy. By the time we reworked our figures the recession had struck in a big way, the pound collapsed against the dollar and our major potential sponsor would not help in the current climate.

Gerald Wylie could not personally pay the originally planned US$6,000 set up costs or the monthly running costs. The model and prospectus on this site deals with a smaller sim than originally planned, but with room for expansion later. Our capital costs are therefore around US$1,750.Second Life Loch Ness Inn, Nessie's Nook

We have over 1,700 members in our HIGHLANDS OF SCOTLAND group and nearly 600 in our NESSIE HUNT AT LOCH NESS group. Our view was that, from some 2,000 people, we could sell one or more shares to enough individuals to allow us to reach our target of fifty. We actually achieved that in a matter of a week or so which gives some idea of how well what we have done is respected.

How Shareholding Is Structured

Gerald Wylie (Tony Harmsworth in RL i.e. me) set up the sim and financed it to date to the tune of about US$3,000 mainly in a learning process, purchasing some in-world expertise and objects, buying books in RL on the SLS language and in paying the tiers. In addition I have put in over 30 hours per week consistently - not as leisure or for pleasure, but in the building and managing of the sim and its games and developing SLS language skills.

In return for that US$3,000 input and for continuing to develop, manage and run the sim he holds 50* of the 100 shares. This values his input at US$2,500 which would seem appropriate, but he will also be continuing to manage the sim and obtain the RL sponsors and advertisers so the workload will not be diminishing in the short term. No other shareholder is being asked to put any time into the project. So I am putting far more in for my 50% of the enterprise, but if we abandon our plans I have wasted it all. However, if success does come then 50% of something is better than 100% of nothing.

The remaining 50 shares were offered on the following terms:

Prospectus:

The business plans to move into operating profit between six months and one year. Each share will receive 1% of the profit. Shareholders receive monthly statements which compare projections with actual figures achieved. We were ahead of target in February but are behind target in March.

Major future expansion plans will have to achieve support of 75% of shareholders. That is to protect minority shareholders from me using profits to expand without justification, but keep in mind that the larger the operation, the more profitable it will be if the initial model works.

Take note that in the early months there will be operating shortfalls and each share holder will have to pay the shortfall in L$. This was L$1,059 in February and L$1,766 in March and continues to average about L$1,600 per month. It will hopefully start to improve later in the year, but do expect to contribute early on. As of February 2010 we were in profit for the first time.

All sim income except as shown in the next paragraph, is part of the plan and the shareholders will own the sim. All RL sponsorship income will be included in the sim income at the best rate of exchange.

Exceptions to shared income: Ownership of and income from the Nessie Hunt game cannot be transferred for copyright reasons. Tips to staff in the pub remain personally theirs. Businesses operating attractions with the sims permission pay rent which is included in our income. If they charge for their attractions that money is theirs personally.

In months when the sim makes a profit, each shareholder will be paid 1% per share held. This will be paid in L$ within 7 days of the monthly accounts being published. When this grows to more than L$2,500 per month shareholders can opt to take it quarterly in US$ or GB£.

In months when the sim makes a loss each shareholder must pay 2% per share held  in Lindens within 30 days of receiving the monthly accounts. Failure to pay by the 7th of the following month will mean that the share is forfeit and we will resell it. Shareholders' maximum liability in any one month should not exceed US$8. I cannot envisage such a scenario as our existing tenants already pay the sim US$159 per month and there is no reason to expect this to do anything but grow.

I should maybe remind here that shareholders are paying for 2% of the losses because I am still putting in 30 hours per week unpaid. The intention here is to be fair and equable and I think it is important to point this out so that nothing is hidden. I will also mention here that I hope this business will pay several thousand dollars per annum and the shareholders will, of course, receive their 50% of that.

CLICK ON THE MAP FOR A LARGER VERSION & DESCRIPTION IN A SEPARATE WINDOW Map of Virtual Scottish Highlands Sim

Shares may be sold to other people at any market price. There is never an obligation to sell. (If things are going really well you can be sure I will be trying to buy the rest of you out!) There will be a "Stock Exchange" building in Inverness City where you can advertise any shares you wish to sell or buy and the price you want or are prepared to offer.

Restriction on holdings: No one person can hold more than 25 shares except with my personal agreement.

Shares can be surrendered at any time, so in reality you are risking just your shareholding in this venture.

Shares may be sold at any time. A 5% of the proceeds charge is made for selling shares.

The land itself, valued at US$1,750 is owned by the shareholders if ever the venture were to be wound up. 

Shareholders perks: Each share owned entitles you to 25% off a 200sq metre shop or a home rental. Four shares provides a free shop or home; eight shares a shop and a home.

How to become a shareholder:

Visit the stock exchange and see if any are available.

Please bear in mind that this is not an official plc-type floatation which costs thousands of pounds to arrange. All arrangements between the enterprise and he shareholders are informal. Again trust and honesty are the key components of this whole organisation. If anything above is not clear, please ask before committing.

* One of these 50 non-contributing shares is owned by LauraClaire Benelli.