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smickles (OP)
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September 15, 2012, 03:53:51 AM |
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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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koin
Legendary
 Offline
Activity: 873
Merit: 1000
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September 15, 2012, 05:10:56 AM |
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Revenue:
Dividend Revenue.......................... 5.05221082 Coming in just under the wire 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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smickles (OP)
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September 15, 2012, 05:13:44 AM |
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Revenue:
Dividend Revenue.......................... 5.05221082 Coming in just under the wire 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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smickles (OP)
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October 03, 2012, 11:26:43 PM
Last edit: October 04, 2012, 01:15:47 AM by smickles |
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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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rdponticelli
Sr. Member
Offline
Activity: 325
Merit: 250
Our highest capital is the Confidence we build.
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October 03, 2012, 11:33:19 PM |
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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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smickles (OP)
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October 03, 2012, 11:38:19 PM
Last edit: October 04, 2012, 01:15:34 AM by smickles |
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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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rdponticelli
Sr. Member
Offline
Activity: 325
Merit: 250
Our highest capital is the Confidence we build.
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October 04, 2012, 01:19:48 AM |
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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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MPOE-PR
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October 04, 2012, 04:09:06 PM |
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Perfect timing on this, too. 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   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. |
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smickles (OP)
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October 16, 2012, 12:47:33 AM |
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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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smickles (OP)
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November 16, 2012, 02:56:47 AM |
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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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