[Havelock] Bitcoin Difficulty Derivative (BDD)

[twentyseventy]

Round 3, Period 7, Day 0 Report - May 11, 2016

Balance Post Divs: BTC 21.38391777

Total Units: 245

NAV/U: BTC 0.08728129

[twentyseventy]

Round 3, Period 7, Day 1 Report - May 12, 2016

Balance Post Divs: BTC 21.22534887

Total Units: 245

NAV/U: BTC 0.08663407

Round 3, Period 7, Day 2 Report - May 13, 2016

Balance Post Divs: BTC 21.32278044

Total Units: 248

NAV/U: BTC 0.08597895

Round 3, Period 7, Day 3 Report - May 14, 2016

Balance Post Divs: BTC 21.24823772

Total Units: 249

NAV/U: BTC 0.08533428

[twentyseventy]

Round 3, Period 7, Day 4 Report - May 15, 2016

Balance Post Divs: BTC 21.08840947

Total Units: 249

NAV/U: BTC 0.08469240

[twentyseventy]

Round 3, Period 7, Day 5 Report - May 16, 2016

Balance Post Divs: BTC 20.92725169

Total Units: 249

NAV/U: BTC 0.08404518

[twentyseventy]

Round 3, Period 7, Day 6 Report - May 17, 2016

Balance Post Divs: BTC 21.01667375

Total Units: 252

NAV/U: BTC 0.08339949

[twentyseventy]

Round 3, Period 7, Day 7 Report - May 18, 2016

Balance Post Divs: BTC 20.93494479

Total Units: 253

NAV/U: BTC 0.08274681

Round 3, Period 7, Day 8 Report - May 19, 2016

Balance Post Divs: BTC 21.01651940

Total Units: 256

NAV/U: BTC 0.08209577

Round 3, Period 7, Day 9 Report - May 20, 2016

Balance Post Divs: BTC 20.85281380

Total Units: 256

NAV/U: BTC 0.08145630

[twentyseventy]

Hi All, sorry for the late dividends. I'll sort everything tonight!

[twentyseventy]

Round 3, Period 7, Day 10 Report - May 21, 2016

Balance Post Divs: BTC 20.76594573

Total Units: 257

NAV/U: BTC 0.08080134

Round 3, Period 7, Day 11 Report - May 22, 2016

Balance Post Divs: BTC 20.84007602

Total Units: 260

NAV/U: BTC 0.08015413

Round 3, Period 7, Day 12 Report - May 23, 2016

Balance Post Divs: BTC 20.67378938

Total Units: 260

NAV/U: BTC 0.07951457

Round 3, Period 7, Day 12 Report - May 24, 2016

Balance Post Divs: BTC 20.50551218

Total Units: 260

NAV/U: BTC 0.07886735

[twentyseventy]

Round 3, Period 7 End Report - May 25, 2016

Previous Units              245
EXCH Sold                   15
Less Buybacks              0
New Total Units        260

Previous Balance          21.4274635
Gross Sales of EXCH      1.29613652

Less Fees                    0.00518455
Less Dividends              2.29051158
Less Buybacks              0
Less Mgmt Fee              0.04746200
Net Balance            20.38044189

End of Period NAV/U     0.07838631

New Difficulty                  199,312,067,531
New Daily Dividend         0.00063080
New Reserve per Unit        0.11354400

NAV/U less New Reserve = 0.07838631 - 0.11354400= -0.03515769

SELL Dividend                 0 (Because there are less than 180 days of dividends on hand)

Days of Dividends On Hand   124.26

[twentyseventy]

Round 3, Period 8, Day 0 Report - May 25, 2016

Balance Post Divs: BTC 20.34150418

Total Units: 260

NAV/U: BTC 0.07823655

Round 3, Period 8, Day 1 Report - May 26, 2016

Balance Post Divs: BTC 20.17749618

Total Units: 260

NAV/U: BTC 0.07760575

Round 3, Period 8, Day 1 Report - May 27, 2016

Balance Post Divs: BTC 20.01348818

Total Units: 260

NAV/U: BTC 0.07697495

[twentyseventy]

Round 3, Period 8, Day 2 Report - May 28, 2016

Balance Post Divs: BTC 20.23125948

Total Units: 265

NAV/U: BTC 0.07634437

Round 3, Period 8, Day 3 Report - May 29, 2016

Balance Post Divs: BTC 20.06404512

Total Units: 265

NAV/U: BTC 0.07571337

Round 3, Period 8, Day 4 Report - May 30, 2016

Balance Post Divs: BTC 19.89688312

Total Units: 265

NAV/U: BTC 0.07508257

[twentyseventy]

Round 3, Period 8, Day 5 Report - May 31, 2016

Balance Post Divs: BTC 19.87864750

Total Units: 267

NAV/U: BTC 0.07445186

[twentyseventy]

Round 3, Period 8, Day 6 Report - June 1, 2016

Balance Post Divs: BTC 19.71020347

Total Units: 267

NAV/U: BTC 0.07382098

[twentyseventy]

Round 3, Period 8, Day 7 Report - June 2, 2016

Balance Post Divs: BTC 20.78650924

Total Units: 284

NAV/U: BTC 0.07319193

Round 3, Period 8, Day 8 Report - June 3, 2016

Balance Post Divs: BTC 20.67850503

Total Units: 285

NAV/U: BTC 0.07255615

[twentyseventy]

Round 3, Period 8, Day 9 Report - June 4, 2016

Balance Post Divs: BTC 20.49967023

Total Units: 285

NAV/U: BTC 0.07192866

[twentyseventy]

Round 3, Period 8, Day 10 Report - June 5, 2016

Balance Post Divs: BTC 20.39055481

Total Units: 286

NAV/U: BTC 0.07129564

Round 3, Period 8, Day 11 Report - June 6, 2016

Balance Post Divs: BTC 20.28015998

Total Units: 287

NAV/U: BTC 0.07066257

[twentyseventy]

Round 3, Period 8, Day 12 Report - June 7, 2016

Balance Post Divs: BTC 20.23854376

Total Units: 289

NAV/U: BTC 0.07002956

[twentyseventy]

Round 3, Period 8 End Report - June 8, 2016

Previous Units              260
EXCH Sold                   29
Less Buybacks              0
New Total Units        289

Previous Balance          20.38044189
Gross Sales of EXCH      2.22076101

Less Fees                    0.00888304
Less Dividends              2.41281000
Less Buybacks              0
Less Mgmt Fee              0.06864787
Net Balance            20.11086199

End of Period NAV/U     0.06958775

New Difficulty                  196,061,423,940
New Daily Dividend         0.00064126
New Reserve per Unit        0.11542680

NAV/U less New Reserve = 0.06958775 - 0.11542680 = -0.04583905

SELL Dividend                 0 (Because there are less than 180 days of dividends on hand)

Days of Dividends On Hand   108.51

[twentyseventy]

Round 3, Period 9, Day 0 Report - June 8, 2016

Balance Post Divs: BTC 20.05515052

Total Units: 289

NAV/U: BTC 0.06939498

[twentyseventy]

Round 3, Period 9, Day 1 Report - June 9, 2016

Balance Post Divs: BTC 19.86982637


Total Units: 289

NAV/U: BTC 0.06875372

Round 3, Period 9, Day 2 Report - June 10, 2016

Balance Post Divs: BTC 19.68450224


Total Units: 289

NAV/U: BTC 0.06811246