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Author Topic: [GLBSE] MPOE ETF - September Financial Report Available  (Read 13386 times)
smickles
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September 15, 2012, 03:53:51 AM
 #81

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MPOE ETF - GLBSE:MPOE.ETF
September 14, 2012 (Period: July 15, 2012 - September 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
September 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 September 14, 2012
                                              _September_       _August_          _July_            _June_          _May_           _April_
Revenue:
    Dividend Revenue..........................  5.05221082        4.35374340        6.50356511     0.34524457      2.59723452      0.0
Expenses:
    Wages Expense.............................  0.31566871        0.04353743        0.06444841     0.01303852      0.02597235      0.0
    Trade Fee Expense.........................  0.05302933        0.0               0.0            0.52118931     0.0             0.067 (see note)
Other income and expenses:
    Unrealized Gain on Investments............215.91187426      139.33418992      161.28724095   346.79228221     72.59434053    149.87084351
    Miscellaneous Revenue.....................  0.0               0.0               0.0            0.26            0.0             0.0
    Miscellaneous Expense.....................  0.0               0.0               0.05              0.0             0.0            20.0
Net Income....................................220.59538704      143.64439589      167.67635765   346.86329895     75.19157505    129.80384351

Basic Earnings per common share...............  0.19873458        0.12940936        0.15105978      0.31248945      0.123264877     0.21279319
Diluted Earnings per common share.............  0.19873458        0.12940936        0.15105978      0.31248945      0.123264877     0.21279319
Dividends declared per common share...........  0.01421931        0.00196114        0.00580616      0.00058732      0.002128881     0.0

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

Beginning Retained earnings...................852.58124267      711.11371848      549.88220187    203.67082895    129.80384351      0.0
Net Income for the Month......................220.59538704      143.64439589      167.67635765    346.86329895     75.19157505    129.80384351
Less Dividends................................ 15.78343551        2.17687170        6.44484104      0.65192603      2.59723452      0.0
Increase in Retained Earnings.................204.81195153      141.46752419      161.23151661    346.21137292     72.59434053    129.80384351
Ending Retained Earnings.....................1057.39319420      852.58124267      711.11371848    549.88220187    202.39818404    129.80384351

MPOE ETF
BALANCE SHEET
September 14, 2012

ASSETS
Current Assets:
    Cash...................................... 26.21801858       13.97369535       17.24166125      7.11835278      7.5727008       5.48192701
Investments:
    MPOE stock................................479.64870656      488.22351953      488.22351953    490.94574494     54.84171999     54.84171999
    Valuation Allowance for Investments......1064.48858510      865.51639807      726.18220815    568.55885876    222.46518404    149.87084351
Total Assets.................................1570.35531024     1367.71361295     1231.64738893   1066.62295648    284.87960483    210.19449051

LIABILITIES
Current Liabilities:
    Accounts Payable..........................  0.0              15.77682435       16.91015862     18.91015862     18.91015862     19.390647
    Dividends Payable......................... 15.78344654        2.17687643        6.44484233      0.65192649      1.29861726      0.0
Total Liabilities............................. 15.78344654       17.95370078       23.35500095     19.56208511     20.20877588     19.390647

STOCKHOLDERS' EQUITY
Common Stock..................................497.17866950      497.17866950      497.1786695     497.1786695      61.0            61.0
Retained Earnings............................1057.39319420      852.58124267      711.11371848    549.88220187    202.39818404    129.80384351
Total Stockholders' Equity...................1554.5718637      1349.75991217     1208.29238798   1046.30941577    263.39818404    190.80384351
Total Liabilities and Stockholders' Equity...1570.35531024     1367.71361295     1231.64738893   1066.62295648    210.19449051    210.19449051

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

Cash flows from management activities:
    Cash received as dividends................  5.05221082        4.35374340        6.50356511      0.34524457      2.59723452      0.0
    Deduct cash payments for expenses and
        payments to creditors................. 16.09249306        1.17687170        2.11444841      0.01303852      0.50646073      0.609353
    Net Cash Flows From Management
        Activities............................(11.04028224)       3.17687170        4.3891167       0.33220605      2.09077379     (0.609353)
Cash flows from investing activities:
    Cash payments for purchase of MPOE stock..  1.00016000        0.0               0.0             0.0             0.0           (54.84171999)
    Cash received from sale of MPOE stock..... 26.51466021        0.0               6.38611697      0.77170553      0.0             0.0
    Deduct cash payment of exchange fees......  0.05302934        0.0               0.0             0.2596428
        Net cash flow from investing
            activities........................ 25.46147087        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             0.0            61.0
    Cash received as interest free loan.......  0.0               0.0               0.0             0.0             0.0            20.0
    Cash payment of exchange Fees.............  0.0               0.0               0.0             0.0             0.0            20.067
    Cash payment of dividends.................  2.17686540        6.44483760       (0.6519252)     (1.2986168)      0.0             0.0
        Net cash flow from financing
        activities............................ (2.17686540)      (6.44483760)      (0.6519252)     (1.2986168)      0.0            60.933
Cash at the beginning of the month............ 13.97369535       17.24166125        7.11835278      7.5727008       5.48192701      0.0
Net cash flow for the month................... 12.24432323       (3.26796590)      10.12330847     (0.45434802)     2.09077379      5.48192701
Net cash flow and month end cash balance...... 26.21801858       13.97369535       17.24166125      7.11835278      7.5727008       5.48192701
Supplemental disclosure of cash flow
    information:
Dividends declared and not paid............... 15.78344654        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
    Over the course of the month the fund purchased and sold shares of the
    underlying for a net change of -64849 shares.

Amount of MPOE stock held
    The fund currently holds 4,009,131 shares of MPOE stock

Accounts Payable
    The entirety of the fund's debt has been paid off.

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 'smickles' Carver
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Coming in just under the wire Wink

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September 15, 2012, 05:10:56 AM
 #82

Code:
Revenue:
    Dividend Revenue..........................  5.05221082
Coming in just under the wire Wink

5.05221082 what?  shekels?   seashells?  shares of cpa, even?

of course, those are btcs, but the statement doesn't state it.
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September 15, 2012, 05:13:44 AM
 #83

Code:
Revenue:
    Dividend Revenue..........................  5.05221082
Coming in just under the wire Wink

5.05221082 what?  shekels?   seashells?  shares of cpa, even?

of course, those are btcs, but the statement doesn't state it.
Thanks for pointing that out. I will be sure to have the next statement specify that the numbers are BTC.

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October 03, 2012, 11:26:43 PM
 #84

Upon due consideration, it is my undesired position to now announce the closure of MPOE.ETF.

I have liquidated the assets and will begin the process of winding down the issue on GLBSE.

This entails a buyback of shares at 1.26383450 BTC each. I will place a bid to fulfill this end as soon as I have moved funds into the account on GLBSE. Once the order is placed, I will request that all shares be consumed in a forced buyback in order to expedite the process.

I will post a final financial statement no later than the 15th of October.

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October 03, 2012, 11:33:19 PM
 #85

Upon due consideration, it is my undesired position to now announce the closure of MPOE.ETF.

I have liquidated the assets and will begin the process of winding down the issue on GLBSE.

This entails a buyback of shares at 1.26383450 BTC each. I will place a bid to fulfill this end as soon as I have moved funds into the account on GLBSE. Once the order is placed, I will request that all shares be consumed in a forced buyback in order to expedite the process.

I will post a final financial statement no later than the 15th of October.

It would have been nice if you had told about this before. Maybe the liquidation could have been avoided, or at least diminished. I was about to ask you if I can redeem my shares for true S.MPOE stock... But well, what's done is done...
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October 03, 2012, 11:38:19 PM
 #86

Upon due consideration, it is my undesired position to now announce the closure of MPOE.ETF.

I have liquidated the assets and will begin the process of winding down the issue on GLBSE.

This entails a buyback of shares at 1.26383450 BTC each. I will place a bid to fulfill this end as soon as I have moved funds into the account on GLBSE. Once the order is placed, I will request that all shares be consumed in a forced buyback in order to expedite the process.

I will post a final financial statement no later than the 15th of October.

It would have been nice if you had told about this before. Maybe the liquidation could have been avoided, or at least diminished. I was about to ask you if I can redeem my shares for true S.MPOE stock... But well, what's done is done...
I was able to arrange special consideration during the liquidation, so I believe that this was the best route to fulfill my duty to the shareholders.

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October 04, 2012, 01:19:48 AM
 #87

Upon due consideration, it is my undesired position to now announce the closure of MPOE.ETF.

I have liquidated the assets and will begin the process of winding down the issue on GLBSE.

This entails a buyback of shares at 1.26383450 BTC each. I will place a bid to fulfill this end as soon as I have moved funds into the account on GLBSE. Once the order is placed, I will request that all shares be consumed in a forced buyback in order to expedite the process.

I will post a final financial statement no later than the 15th of October.

It would have been nice if you had told about this before. Maybe the liquidation could have been avoided, or at least diminished. I was about to ask you if I can redeem my shares for true S.MPOE stock... But well, what's done is done...
I was able to arrange special consideration during the liquidation, so I believe that this was the best route to fulfill my duty to the shareholders.

It's ok. Congratulations for a great work.
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October 04, 2012, 04:09:06 PM
 #88

Perfect timing on this, too.

Quote
Oct 04 04:22:07 <smickles>   there's the wall
Oct 04 04:22:07 <rdponticelli>   There it goes...
Oct 04 04:22:21 <rdponticelli>   Was a pleasure
Oct 04 04:23:38 <smickles>   it was nice while it lasted Smiley Sad
Oct 04 04:24:31 <assbot>   [MPEX] [S.MPOE] 31400 @ 0.00035922 = 11.2795 BTC [-]
Oct 04 04:24:33 <assbot>   [MPEX] [S.MPOE] 34776 @ 0.00035919 = 12.4912 BTC [-]
Oct 04 04:25:06 <mircea_popescu>   so did you have fun with it smickles ?
Oct 04 04:25:18 <mircea_popescu>   5 months, best fund in btc history by returns, etc
Oct 04 04:25:24 *   maximian (~maximian@S010600008654164f.vc.shawcable.net) has joined #bitcoin-assets
Oct 04 04:25:34 <rdponticelli>   By far
Oct 04 04:26:16 <mircea_popescu>   !pl mpoe.etf .1
Oct 04 04:26:16 <assbot>   Requesting data from GLBSE (might take a while, also might return fishy results as it does not account for splits etc).
Oct 04 04:26:20 <assbot>   MPOE.ETF [1@0.1BTC] paid: 0.02470282 BTC. Last price: 1.2638345 BTC. Capital gain: 1.1638345 BTC. Total: 1.18853732 BTC. (1188.5%)
Oct 04 04:26:33 <mircea_popescu>   that 1188% is definitive i'd guess

Congratulations on running the best asset that ever was on GLBSE, and good luck with the next one.

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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October 16, 2012, 12:47:33 AM
 #89

I am at this time unable to retrieve some data which is required to produce the final financial report.

The production of the final financial report will be delayed until I can reasonably confirm the number of outstanding shares of MPOE ETF.

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November 16, 2012, 02:56:47 AM
 #90

I see no point in compiling reports for the remaining shareholders. The situation with GLBSE is stagnant.

17pEq2FphQeHQQAA1fKvrNsBKrBSGhFE4Y

That is the address which received the remaining funds from GLBSE.

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