Grant Development Bond's First Dividend Yesterday

Grant Development Bond (GDB : ISE) is expected to post it's first dividend today, November 24th. CEO Andy Grant also posted the dividend schedule for GDB(ISE) through January, 2010.

From December, 2008, through December 2009, investors are to expect twice monthly dividend payments. Whether the Bond will terminate January 2010, or if a new schedule will be posted before then, is not yet certain.

Andy Grant of the proposed GDB(ISE) back in October, which will allow him to develop his Second Life scripting business and hedge the currently weak Norwegian Krone. The Krone slipped against the US Dollar to a new all-time low in October as an effect of the global financial crisis.

"My goal is to provide the market an instrument which is as flexible as it is to deposit/withdraw from an ATM, unlike any other SL-stocks/debts." CEO Andy Grant explained.

"The reason i came up with this is just like any other capital venture, self-interest. If you look at Forex charts over past few months capital has been going from Europe back to US, at a pace which can only be described as panic/margin calls. Result of this is USD/NOK at 7. This was the reason i considered to borrow USD based currency to fund SL expansion rather than financing it with my NOK reserves."

Grant is one of the several individuals and firms vying to purchase the beleagured GIIF(ISE), the value of which has skyrocketed to L$15.00 yesterday, less than a week after a shareholder meeting where ISE CEO Cocky Dagger heard all available proposals for purchase and/or merger with GIIF(ISE). Dagger is expected to accumulate all the information on all proposals and create a shareholder vote in the coming days. It is rumored that Cornflake Carter is the pivot point of the vote, and has enough shares to determine the course of the company singlehandedly.

Grant's calculation for the value of GIIF(ISE)'s assets is a range of L$140,000 and L$200,000. At the time GIIF(ISE) was trading between L$4.04 and L$7.01.