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Author Topic: [GLBSE] MPOE ETF - September Financial Report Available  (Read 13396 times)
Raoul Duke
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April 23, 2012, 09:54:05 PM
 #61

That goes to show the integrity of the persons you are leaving your money with...

Read the thread where that quote came from, it's funny.
Mircea Popescu owns a company for 5 years that have nothing more than losses to show.
If he can't even take good care of his own money you think he will take good care of your?

Also, the fact that he hires a spammer as his PR is very telling.
Her modus operandi is to open accounts trying to impersonate forum admins/moderators to spam the users and trying to have them install malware and/or sell them into shitty stuff and has been like that for years. When will she do the same in this forum? Cheesy
And the spamming part is already showing in this forum, where she goes to all the threads spam her shitty business. I just gave her a little of her own medicine. Wink


Fucking clowns, that's what they are!

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smickles
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April 23, 2012, 10:17:42 PM
 #62

That goes to show the integrity of the persons you are leaving your money with...

Read the thread where that quote came from, it's funny.
Mircea Popescu owns a company for 5 years that have nothing more than losses to show.
If he can't even take good care of his own money you think he will take good care of your?

Also, the fact that he hires a spammer as his PR is very telling.
Her modus operandi is to open accounts trying to impersonate forum admins/moderators to spam the users and trying to have them install malware and/or sell them into shitty stuff and has been like that for years. When will she do the same in this forum? Cheesy
And the spamming part is already showing in this forum, where she goes to all the threads spam her shitty business. I just gave her a little of her own medicine. Wink


Fucking clowns, that's what they are!
The way MPOE ETF operates is fairly clear and the underlying asset -MPOE- is similarly clear in it's construction and operation.

I personally haven't seen Mr. Popescu try to hide his past in any way, in fact, he seems very open about it. Due to the nature of MPOE, I do not think that his past will have much, if any, impact on the performance of the operation or its issuances.

RE: the "PR account",
Quote
…Her modus operandi is to open accounts trying to impersonate forum admins/moderators to spam the users and trying to have them install malware and/or sell them into shitty stuff and has been like that for years. When will she do the same in this forum?…
So you are sayin that she hasn't done bad things on this forum?

Quote
I just gave her a little of her own medicine.
please stop bringing your misguided attempt at vengeance to this thread.

Raoul Duke
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April 23, 2012, 10:56:15 PM
 #63

So my attempts are misguided? And hers aren't... OK.

Leave your money wherever you wish. When he/she runs away with it don't come crying! Grin

Report the post, maybe some moderator will delete it, because I won't!

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April 23, 2012, 11:01:25 PM
 #64

So my attempts are misguided? And hers aren't... OK.
no, giving someone a taste of the own medicine is misguided vengeance.
Quote

Leave your money wherever you wish. When he/she runs away with it don't come crying! Grin
I'm glad you at least understand part of the concept of a free market. But please don't just assert that the people involved here are scammers without any useful and legitimate evidence.
Quote

Report the post, maybe some moderator will delete it, because I won't!
What I don't understand is why you want to harm the shareholders of this fund when you are clearly upset at other people.

Raoul Duke
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April 23, 2012, 11:03:36 PM
 #65

What I don't understand is why you want to harm the shareholders of this fund when you are clearly upset at other people.

Ask that same question to the fluffygrrl...

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May 09, 2012, 07:23:11 PM
 #66

For those shareholders who did not actively seek out the underlying's April financial report, here is the link.
http://polimedia.us/trilema/2012/mpoe-rezultate-aprilie-2012/

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May 15, 2012, 01:09:26 AM
 #67

A couple of minor errors were discovered in this report. Please see the following post for the corrections to the cash flows statement and the note concerning changes to the underlying asset.
Code:
-----BEGIN PGP SIGNED MESSAGE-----
Hash: SHA1

MPOE ETF - GLBSE:MPOE.ETF
May 14, 2012 (Period: April 15, 2012 - May 14, 2012)

Monthly report which provides a comprehensive overview of the company for the past month.

To the Shareholders of MPOE ETF:

I have completed MPOE ETF's financial statements for the month ending May 14, 2012. In my opinion, the following statements accurately and fairly represent the financial position of MPOE ETF.

MPOE ETF
INCOME STATEMENT
FOR THE MONTH ENDED MAY 14, 2012

Revenue:
    Dividend Revenue..........................  2.59723452
Expenses:
    Wages Expense.............................  0.02597235
Income from Operations........................                  2.59723452
Other income and expenses:
    Unrealized Gain on Investments............                 72.59434053
Net Income....................................                 75.19157505

Basic Earnings per common share...............                  0.123264877
Diluted Earnings per common share.............                  0.123264877
Dividends declared per common share...........                  0.002128881

MPOE ETF
RETAINED EARNINGS STATEMENT
FOR THE MONTH ENDED MAY 14, 2012

Retained earnings, April 15, 2012.............                129.80384351
Net Income for the Month...................... 75.19157505
Less Dividends................................  2.59723452
Increase in Retained Earnings.................                 72.59434053
Retained Earnings, May 14, 2012...............                202.39818404

MPOE ETF
BALANCE SHEET
MAY 14, 2012

ASSETS
Current Assets:
    Cash......................................  7.5727008
Investments:
    MPOE stock................................ 54.84171999
    Valuation Allowance for Investments.......222.46518404
Total Assets..................................                284.87960483

LIABILITIES
Current Liabilities:
    Accounts Payable.......................... 18.91015862
    Dividends Payable.........................  1.29861726
Total Liabilities.............................                 20.20877588

STOCKHOLDERS' EQUITY
Common Stock.................................. 61.0
Retained Earnings.............................202.39818404
Total Stockholders' Equity....................                263.39818404
Total Liabilities and Stockholders' Equity....                210.19449051

MPOE ETF
STATEMENT OF CASH FLOWS
FOR THE MONTH ENDED MAY 14, 2012

Cash flows from operating activities:
    Cash received as dividends................  2.59723452
    Deduct cash payments for expenses and
        payments to creditors.................  0.50646073
    Net Cash Flows From Operating
        Activities............................                  2.09077379
Cash flows from investing activities:
    Cash payments for purchase of MPOE stock..  0.0
    Cash received from sale of MPOE stock.....  0.0
        Net cash flow from investing
            activities........................                  0.0
Cash flows from financing activities:
    Cash payment of dividends.................                  0.0
Net cash flow and April 14, 2012 cash balance.                  2.09077379
Supplemental disclosure of cash flow
    information:
Dividends declared and not paid...............                  1.29861726

NOTES TO THE FINANCIAL STATEMENTS

Valuation of MPOE stock
    MPOE stock is valued by the 30 day volume weighted average price as reported by MPEx (ticker S.MPOE) at http://polimedia.us/bitcoin/mpex-vwap.php

Significant changes to the nature of the underlying asset
    MPOE acquired the exchange MPEx. This acquisition has made the operation of MPOE redundant as options offerings are fulfilled by the operation of MPEx. Additionally, MPEx offers the exchange of an expanded variety of assets. http://polimedia.us/trilema/2012/mpoe-rezultate-aprilie-2012/

Amount of MPOE stock held
    The fund currently holds 2,253,340 shares of MPOE stock

Accounts Payable
    The entirety of the fund's debt is owned by Michael Carver and includes only the organizational expenses of the fund and any yet unpaid wage. This debt imparts no expense to the fund.

Common Stock
    The number of issued, outstanding and authorized stock is 610 shares. These shares have limited voting rights which are outlined in the shareholder contract (https://bitcointalk.org/index.php?topic=67535.msg785723#msg785723). A dividend yeild is not yet calculable as the fund has been in operation for less than one year.

Signed,
Michael Carver
also known as
smickles
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smickles
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May 15, 2012, 03:03:00 AM
 #68

A couple of small corrections to the May financial report
Code:
-----BEGIN PGP SIGNED MESSAGE-----
Hash: SHA1

MPOE ETF - GLBSE:MPOE.ETF
May 14, 2012 (Period: April 15, 2012 - May 14, 2012)

An error by which the incorrect document was signed has been found as well as a correction of one of the notes has been brought to my attention. The following statements are the corrections to the May Financial Report of MPOE ETF.

MPOE ETF
CORRECTED STATEMENT OF CASH FLOWS
FOR THE MONTH ENDED MAY 14, 2012

Cash flows from operating activities:
    Cash received as dividends................  2.59723452
    Deduct cash payments for expenses and
        payments to creditors.................  0.50646073
    Net Cash Flows From Operating
        Activities............................                  2.09077379
Cash flows from investing activities:
    Cash payments for purchase of MPOE stock..  0.0
    Cash received from sale of MPOE stock.....  0.0
        Net cash flow from investing
            activities........................                  0.0
Cash flows from financing activities:
    Cash payment of dividends.................                  0.0
Cash at the beginning of the month............  5.48192701
Net cash flow for the month of May............  2.09077379
Net cash flow and May 14, 2012 cash balance...                  7.5727008
Supplemental disclosure of cash flow
    information:
Dividends declared and not paid...............                  1.29861726

NOTES TO THE FINANCIAL STATEMENTS

Significant changes to the nature of the underlying asset
    MPOE acquired the exchange MPEx. This acquisition has made the operation of MPOE seperate from MPEx redundant as options offerings are fulfilled by the operation of MPEx. http://polimedia.us/trilema/2012/mpoe-rezultate-aprilie-2012/


Signed,
Michael Carver
also known as
smickles
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smickles
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May 15, 2012, 07:12:37 PM
 #69

I am pleased to announce payment of this month's dividend.

Also, I have updated some of the fund's information on the GLBSE asset page in the "Company and security details, contract" section.

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June 12, 2012, 02:10:15 AM
 #70

I noticed your by-laws link in the contract does not work. I was wondering about voting rights and the right to raise a motion.

Given the large discount to NAV, I would like to propose a (partial) sale of S.MPOE shares of the fund to be used either to pay a special dividend, or to buy back shares at a discount to NAV. I believe either measure should help to reduce the gap between NAV and share price.

Regards,
Brendio.
Bitcoin Investment Bank.

smickles
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June 12, 2012, 02:54:37 AM
 #71

I noticed your by-laws link in the contract does not work. I was wondering about voting rights and the right to raise a motion.

Given the large discount to NAV, I would like to propose a (partial) sale of S.MPOE shares of the fund to be used either to pay a special dividend, or to buy back shares at a discount to NAV. I believe either measure should help to reduce the gap between NAV and share price.

Regards,
Brendio.
Bitcoin Investment Bank.
I will have to fix the issue with the bylaws link tomorrow. Thank you for telling me about it.
However, you did not miss much of anything. Since there has been no discussion of the bylaws here, no bylaws have been even drafted up.

In line with my judgement of the situation I have been able to sell a small portion of the shares which the fund holds at a reasonable price in order to pay a larger dividend this month.

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June 12, 2012, 02:00:22 PM
 #72

I have been able to arrange an in kind creation of shares of MPOE ETF. The fund received 1,853,708 shares of MPOE in exchange for 500 shares of MPOE ETF which increases the number of MPOE shares held per MPOE ETF share.

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June 15, 2012, 12:40:55 AM
 #73

Code:
-----BEGIN PGP SIGNED MESSAGE-----
Hash: SHA1

MPOE ETF - GLBSE:MPOE.ETF
June 14, 2012 (Period: May 15, 2012 - June 14, 2012)

Monthly report which provides a comprehensive overview of the company for the past month.

To the Shareholders of MPOE ETF:

I have completed MPOE ETF's financial statements for the month ending June 14, 2012. In my opinion, the following statements accurately and fairly represent the financial position of MPOE ETF.

MPOE ETF
INCOME STATEMENT
FOR THE MONTH ENDED JUNE 14, 2012
                                              _June_          _May_           _April_
Revenue:
    Dividend Revenue..........................  0.34524457      2.59723452      0.0
Expenses:
    Wages Expense.............................  0.01303852      0.02597235      0.0
    Trade Fee Expense.........................  0.52118931     0.0             0.067 (see note)
Other income and expenses:
    Unrealized Gain on Investments............346.79228221     72.59434053    149.87084351
    Miscellaneous Revenue.....................  0.26            0.0             0.0
    Miscelaneous Expense......................  0.0             0.0            20.0
Net Income....................................346.86329895     75.19157505    129.80384351

Basic Earnings per common share...............  0.31248945      0.123264877     0.21279319
Diluted Earnings per common share.............  0.31248945      0.123264877     0.21279319
Dividends declared per common share...........  0.00058732      0.002128881     0.0

MPOE ETF
RETAINED EARNINGS STATEMENT
FOR THE MONTH ENDED JUNE 14, 2012

Begining Retained earnings....................203.67082895    129.80384351      0.0
Net Income for the Month......................346.86329895     75.19157505    129.80384351
Less Dividends................................  0.65192603      2.59723452      0.0
Increase in Retained Earnings.................346.21137292     72.59434053    129.80384351
Ending Retained Earnings......................549.88220187    202.39818404    129.80384351

MPOE ETF
BALANCE SHEET
June 14, 2012

ASSETS
Current Assets:
    Cash......................................  7.11835278      7.5727008       5.48192701
Investments:
    MPOE stock................................490.94574494     54.84171999     54.84171999
    Valuation Allowance for Investments.......568.55885876    222.46518404    149.87084351
Total Assets.................................1066.62295648    284.87960483    210.19449051

LIABILITIES
Current Liabilities:
    Accounts Payable.......................... 18.91015862     18.91015862     19.390647
    Dividends Payable.........................  0.65192649      1.29861726      0.0
Total Liabilities............................. 19.56208511     20.20877588     19.390647

STOCKHOLDERS' EQUITY
Common Stock..................................497.1786695      61.0            61.0
Retained Earnings.............................549.88220187    202.39818404    129.80384351
Total Stockholders' Equity...................1046.30941577    263.39818404    190.80384351
Total Liabilities and Stockholders' Equity...1066.62295648    210.19449051    210.19449051

MPOE ETF
STATEMENT OF CASH FLOWS
FOR THE MONTH ENDED JUNE 14, 2012

Cash flows from management activities:
    Cash received as dividends................  0.34524457      2.59723452      0.0
    Deduct cash payments for expenses and
        payments to creditors.................  0.01303852      0.50646073      0.609353
    Net Cash Flows From Management
        Activities............................  0.33220605      2.09077379     (0.609353)
Cash flows from investing activities:
    Cash payments for purchase of MPOE stock..  0.0             0.0           (54.84171999)
    Cash received from sale of MPOE stock.....  0.77170553      0.0             0.0
    Deduct cash payment of exchange fees        0.2596428
        Net cash flow from investing
            activities........................  0.51206273      0.0           (54.84171999)
Cash flows from financing activities:
    Cash received from issuing stock..........  0.0             0.0            61.0
    Cash received as interest free loan.......  0.0             0.0            20.0
    Cash payment of exchange Fees.............  0.0             0.0            20.067
    Cash payment of dividends................. (1.2986168)      0.0             0.0
        Net cash flow from financing
        activities............................ (1.2986168)      0.0            60.933
Cash at the beginning of the month............  7.5727008       5.48192701      0.0
Net cash flow for the month................... (0.45434802)     2.09077379      5.48192701
Net cash flow and month end cash balance......  7.11835278      7.5727008       5.48192701
Supplemental disclosure of cash flow
    information:
Dividends declared and not paid...............  0.65192649      1.29861726      0.0

NOTES TO THE FINANCIAL STATEMENTS

April Trade Fee Expense
    In April, the trade fee expense was counted as an Other Expense because it was associated with a financing fee.

Income from Operations
    The income from operations line will no longer be included as it is not appropriated for the nature of business which the fund engages in.

Valuation of MPOE stock
    MPOE stock is valued by the 30 day volume weighted average price as reported by MPEx (ticker S.MPOE) at http://polimedia.us/bitcoin/mpex-vwap.php

Investment Activities
    On June 12, the fund sold 3067 shares of MPOE stock at a price of 0.0025212 BTC each yeilding 7.7325204 BTC not accounting for associated fees.
    Later that same day the fund arranged an in kind creation of 500 shares its stock in exchange for 1853708 shares of MPOE stock valued at 0.00023530 BTC each.

Amount of MPOE stock held
    The fund currently holds 4,103,981 shares of MPOE stock

Accounts Payable
    The entirety of the fund's debt is owned by Michael Carver and includes only the organizational expenses of the fund and any yet unpaid wage. This debt imparts no expense to the fund.

Common Stock
    The number of issued, outstanding and authorized stock is 1110 shares. These shares have limited voting rights which are outlined in the shareholder contract (https://bitcointalk.org/index.php?topic=67535.msg785723#msg785723). A dividend yeild is not yet calculable as the fund has been in operation for less than one year.

Signed,
Michael Carver
also known as
smickles
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June 15, 2012, 12:50:55 AM
 #74

It's a pleasure reading these reports, congrats on a job well done.

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July 15, 2012, 09:25:55 PM
 #75

In consideration of the time, I have paid the dividend before posting the monthly financial report.

Please expect the report to come later today Smiley

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July 18, 2012, 11:40:45 PM
 #76

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-----BEGIN PGP SIGNED MESSAGE-----
Hash: SHA1

MPOE ETF - GLBSE:MPOE.ETF
July 18, 2012 (Period: June 15, 2012 - July 14, 2012)

Monthly report which provides a comprehensive overview of the company for the past month.

To the Shareholders of MPOE ETF:

I have completed MPOE ETF's financial statements for the month ending July 14, 2012. In my opinion, the following statements accurately and fairly represent the financial position of MPOE ETF.

MPOE ETF
INCOME STATEMENT
FOR THE MONTH ENDED JULY 14, 2012
                                              _July_            _June_          _May_           _April_
Revenue:
    Dividend Revenue..........................  6.50356511     0.34524457      2.59723452      0.0
Expenses:
    Wages Expense.............................  0.06444841     0.01303852      0.02597235      0.0
    Trade Fee Expense.........................  0.0            0.52118931     0.0             0.067 (see note)
Other income and expenses:
    Unrealized Gain on Investments............161.28724095   346.79228221     72.59434053    149.87084351
    Miscellaneous Revenue.....................  0.0            0.26            0.0             0.0
    Miscellaneous Expense......................  0.05           0.0             0.0            20.0
Net Income....................................167.67635765   346.86329895     75.19157505    129.80384351

Basic Earnings per common share...............  0.15105978      0.31248945      0.123264877     0.21279319
Diluted Earnings per common share.............  0.15105978      0.31248945      0.123264877     0.21279319
Dividends declared per common share...........  0.00580616      0.00058732      0.002128881     0.0

MPOE ETF
RETAINED EARNINGS STATEMENT
FOR THE MONTH ENDED JULY 14, 2012

Beginning Retained earnings....................549.88220187    203.67082895    129.80384351      0.0
Net Income for the Month......................167.67635765    346.86329895     75.19157505    129.80384351
Less Dividends................................  6.44484104      0.65192603      2.59723452      0.0
Increase in Retained Earnings.................161.23151661    346.21137292     72.59434053    129.80384351
Ending Retained Earnings......................711.11371848    549.88220187    202.39818404    129.80384351

MPOE ETF
BALANCE SHEET
July 14, 2012

ASSETS
Current Assets:
    Cash...................................... 17.24166125      7.11835278      7.5727008       5.48192701
Investments:
    MPOE stock................................488.22351953    490.94574494     54.84171999     54.84171999
    Valuation Allowance for Investments.......726.18220815    568.55885876    222.46518404    149.87084351
Total Assets.................................1231.64738893   1066.62295648    284.87960483    210.19449051

LIABILITIES
Current Liabilities:
    Accounts Payable.......................... 16.91015862     18.91015862     18.91015862     19.390647
    Dividends Payable.........................  6.44484233      0.65192649      1.29861726      0.0
Total Liabilities............................. 23.35500095     19.56208511     20.20877588     19.390647

STOCKHOLDERS' EQUITY
Common Stock..................................497.1786695     497.1786695      61.0            61.0
Retained Earnings.............................711.11371848    549.88220187    202.39818404    129.80384351
Total Stockholders' Equity...................1208.29238798   1046.30941577    263.39818404    190.80384351
Total Liabilities and Stockholders' Equity...1231.64738893   1066.62295648    210.19449051    210.19449051

MPOE ETF
STATEMENT OF CASH FLOWS
FOR THE MONTH ENDED JUNE 14, 2012

Cash flows from management activities:
    Cash received as dividends................  6.50356511      0.34524457      2.59723452      0.0
    Deduct cash payments for expenses and
        payments to creditors.................  2.11444841      0.01303852      0.50646073      0.609353
    Net Cash Flows From Management
        Activities............................  4.3891167       0.33220605      2.09077379     (0.609353)
Cash flows from investing activities:
    Cash payments for purchase of MPOE stock..  0.0             0.0             0.0           (54.84171999)
    Cash received from sale of MPOE stock.....  6.38611697      0.77170553      0.0             0.0
    Deduct cash payment of exchange fees        0.0             0.2596428
        Net cash flow from investing
            activities........................  6.38611697      0.51206273      0.0           (54.84171999)
Cash flows from financing activities:
    Cash received from issuing stock..........  0.0             0.0             0.0            61.0
    Cash received as interest free loan.......  0.0             0.0             0.0            20.0
    Cash payment of exchange Fees.............  0.0             0.0             0.0            20.067
    Cash payment of dividends................. (0.6519252)     (1.2986168)      0.0             0.0
        Net cash flow from financing
        activities............................ (0.6519252)     (1.2986168)      0.0            60.933
Cash at the beginning of the month............  7.11835278      7.5727008       5.48192701      0.0
Net cash flow for the month................... 10.12330847     (0.45434802)     2.09077379      5.48192701
Net cash flow and month end cash balance...... 17.24166125      7.11835278      7.5727008       5.48192701
Supplemental disclosure of cash flow
    information:
Dividends declared and not paid...............  6.44484104      0.65192649      1.29861726      0.0

NOTES TO THE FINANCIAL STATEMENTS

April Trade Fee Expense
    In April, the trade fee expense was counted as an Other Expense because it was associated with a financing fee.

Valuation of MPOE stock
    MPOE stock is valued by the 30 day volume weighted average price as reported by MPEx (ticker S.MPOE) at http://polimedia.us/bitcoin/mpex-vwap.php

Investment Activities
    Over the course of the month the fund sold 22,756 shares of MPOE stock a number of which were obtained through the action of exercising various derivatives.

Amount of MPOE stock held
    The fund currently holds 4,081,225 shares of MPOE stock

Accounts Payable
    The entirety of the fund's debt is owned by Michael Carver and includes only the organizational expenses of the fund and any yet unpaid wage. This debt imparts no expense to the fund.

Common Stock
    The number of issued, outstanding and authorized stock is 1110 shares. These shares have limited voting rights which are outlined in the shareholder contract (https://bitcointalk.org/index.php?topic=67535.msg785723#msg785723). A dividend yield is not yet calculable as the fund has been in operation for less than one year.

Signed,
Michael Carver
also known as
smickles
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MPOE-PR
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July 18, 2012, 11:49:08 PM
 #77

So, 1.2k assets, 1.1k shares, worth ~1 btc/share.

My Credentials  | THE BTC Stock Exchange | I have my very own anthology! | Use bitcointa.lk, it's like this one but better.
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July 18, 2012, 11:53:14 PM
 #78

So, 1.2k assets, 1.1k shares, worth ~1 btc/share.
~indeed

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August 14, 2012, 06:55:28 PM
 #79

Code:
-----BEGIN PGP SIGNED MESSAGE-----
Hash: SHA1

MPOE ETF - GLBSE:MPOE.ETF
August 14, 2012 (Period: July 15, 2012 - August 14, 2012)

Monthly report which provides a comprehensive overview of the company for the
past month.

To the Shareholders of MPOE ETF:

I have completed MPOE ETF's financial statements for the month ending
August 14, 2012. In my opinion, the following statements accurately and
fairly represent the financial position of MPOE ETF.

MPOE ETF
INCOME STATEMENT
FOR THE MONTH ENDED AUGUST 14, 2012
                                              _August_          _July_            _June_          _May_           _April_
Revenue:
    Dividend Revenue..........................  4.35374340        6.50356511     0.34524457      2.59723452      0.0
Expenses:
    Wages Expense.............................  0.04353743        0.06444841     0.01303852      0.02597235      0.0
    Trade Fee Expense.........................  0.0               0.0            0.52118931     0.0             0.067 (see note)
Other income and expenses:
    Unrealized Gain on Investments............139.33418992      161.28724095   346.79228221     72.59434053    149.87084351
    Miscellaneous Revenue.....................  0.0               0.0            0.26            0.0             0.0
    Miscellaneous Expense.....................  0.0               0.05              0.0             0.0            20.0
Net Income....................................143.64439589      167.67635765   346.86329895     75.19157505    129.80384351

Basic Earnings per common share...............  0.12940936        0.15105978      0.31248945      0.123264877     0.21279319
Diluted Earnings per common share.............  0.12940936        0.15105978      0.31248945      0.123264877     0.21279319
Dividends declared per common share...........  0.00196114        0.00580616      0.00058732      0.002128881     0.0

MPOE ETF
RETAINED EARNINGS STATEMENT
FOR THE MONTH ENDED AUGUST 14, 2012

Beginning Retained earnings...................711.11371848      549.88220187    203.67082895    129.80384351      0.0
Net Income for the Month......................143.64439589      167.67635765    346.86329895     75.19157505    129.80384351
Less Dividends................................  2.17687170        6.44484104      0.65192603      2.59723452      0.0
Increase in Retained Earnings.................141.46752419      161.23151661    346.21137292     72.59434053    129.80384351
Ending Retained Earnings......................852.58124267      711.11371848    549.88220187    202.39818404    129.80384351

MPOE ETF
BALANCE SHEET
AUGUST 14, 2012

ASSETS
Current Assets:
    Cash...................................... 13.97369535       17.24166125      7.11835278      7.5727008       5.48192701
Investments:
    MPOE stock................................488.22351953      488.22351953    490.94574494     54.84171999     54.84171999
    Valuation Allowance for Investments.......865.51639807      726.18220815    568.55885876    222.46518404    149.87084351
Total Assets.................................1367.71361295     1231.64738893   1066.62295648    284.87960483    210.19449051

LIABILITIES
Current Liabilities:
    Accounts Payable.......................... 15.77682435       16.91015862     18.91015862     18.91015862     19.390647
    Dividends Payable.........................  2.17687643        6.44484233      0.65192649      1.29861726      0.0
Total Liabilities............................. 17.95370078       23.35500095     19.56208511     20.20877588     19.390647

STOCKHOLDERS' EQUITY
Common Stock..................................497.17866950      497.1786695     497.1786695      61.0            61.0
Retained Earnings.............................852.58124267      711.11371848    549.88220187    202.39818404    129.80384351
Total Stockholders' Equity...................1349.75991217     1208.29238798   1046.30941577    263.39818404    190.80384351
Total Liabilities and Stockholders' Equity...1367.71361295     1231.64738893   1066.62295648    210.19449051    210.19449051

MPOE ETF
STATEMENT OF CASH FLOWS
FOR THE MONTH ENDED AUGUST 14, 2012

Cash flows from management activities:
    Cash received as dividends................  4.35374340        6.50356511      0.34524457      2.59723452      0.0
    Deduct cash payments for expenses and
        payments to creditors.................  1.17687170        2.11444841      0.01303852      0.50646073      0.609353
    Net Cash Flows From Management
        Activities............................  3.17687170        4.3891167       0.33220605      2.09077379     (0.609353)
Cash flows from investing activities:
    Cash payments for purchase of MPOE stock..  0.0               0.0             0.0             0.0           (54.84171999)
    Cash received from sale of MPOE stock.....  0.0               6.38611697      0.77170553      0.0             0.0
    Deduct cash payment of exchange fees......  0.0               0.0             0.2596428
        Net cash flow from investing
            activities........................  0.0               6.38611697      0.51206273      0.0           (54.84171999)
Cash flows from financing activities:
    Cash received from issuing stock..........  0.0               0.0             0.0             0.0            61.0
    Cash received as interest free loan.......  0.0               0.0             0.0             0.0            20.0
    Cash payment of exchange Fees.............  0.0               0.0             0.0             0.0            20.067
    Cash payment of dividends.................  6.44483760       (0.6519252)     (1.2986168)      0.0             0.0
        Net cash flow from financing
        activities............................ (6.44483760)      (0.6519252)     (1.2986168)      0.0            60.933
Cash at the beginning of the month............ 17.24166125        7.11835278      7.5727008       5.48192701      0.0
Net cash flow for the month................... (3.26796590)      10.12330847     (0.45434802)     2.09077379      5.48192701
Net cash flow and month end cash balance...... 13.97369535       17.24166125      7.11835278      7.5727008       5.48192701
Supplemental disclosure of cash flow
    information:
Dividends declared and not paid...............  2.17687643        6.44484104      0.65192649      1.29861726      0.0

NOTES TO THE FINANCIAL STATEMENTS

April Trade Fee Expense
    In April, the trade fee expense was counted as an Other Expense because
    it was associated with a financing fee.

Valuation of MPOE stock
    MPOE stock is valued by the 30 day volume weighted average price as
    reported by MPEx (ticker S.MPOE) at
    http://polimedia.us/bitcoin/mpex-vwap.php

Investment Activities
    There were no investment activities this month.

Amount of MPOE stock held
    The fund currently holds 4,073,980 shares of MPOE stock

Accounts Payable
    The entirety of the fund's debt is owned by Michael Carver and includes
    only the organizational expenses of the fund and any yet unpaid wage.
    This debt imparts no expense to the fund.

Common Stock
    The number of issued, outstanding and authorized stock is 1110 shares.
    These shares have limited voting rights which are outlined in the
    shareholder contract
    (https://bitcointalk.org/index.php?topic=67535.msg785723#msg785723).
    A dividend yield is not yet calculable as the fund has been in operation
    for less than one year.

Signed,
Michael Carver
also known as
smickles
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September 01, 2012, 01:57:47 AM
 #80

Financial report of the underlying: http://polimedia.us/trilema/2012/mpoe-rezultate-august-2012/#comment-88317

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