Closing

[brendio]

In the interest of reducing the exposure between my other ventures and S² Capital Management, I've made my first investment decision.  S² Capital Management has invested in the Bitcoin Investment Bank (BIB).  Its on a 1 month contract with the possibility for extension. Hopefully this helps to alleviate any concerns about conflict of interest.

Expect a few more smaller deals to be announced to fully close out my non-management positions with S² Capital Management.  As always, I can be found here on the forums, on IRC, or on Skype if you have any questions or concerns.

I confirm and welcome this investment in the Bitcoin Investment Bank.

I would just like to add, for the benefit of S²CM investors, that while BIB is the issuer of the BIB.PIRATE bond, BIB takes risk management seriously and BIB is personally exposed to less than 3 % of value of issued BIB.PIRATE bonds. The investment by S²CM provides general working capital, is guaranteed by BIB even in the event of a default by BS&T and is backed by GLBSE assets valued at a multiple of the investment sum.

[brendio]

I would just like to add, for the benefit of S²CM investors, that while BIB is the issuer of the BIB.PIRATE bond, BIB takes risk management seriously and BIB is personally exposed to less than 3 % of value of issued BIB.PIRATE bonds. The investment by S²CM provides general working capital, is guaranteed by BIB even in the event of a default by BS&T and is backed by GLBSE assets valued at a multiple of the investment sum.

Do these assets have existing claims against them, for example, are they being used to pay dividends?

No, they are totally free and unencumbered.

[smickles]

Code:

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Hash: SHA1

S²CM - GLBSE:SS
June 16, 2012 (Period: May 16, 2012 - June 15, 2012)

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

To the Shareholders of S²CM:

I have completed S²CM's financial statements for the month ending May 
15, 2012. In my opinion the following statements accurately and fairly 
present the financial position of S²CM.

S²CM
INCOME STATEMENT
FOR THE MONTH ENDED JUNE 15, 2012

Revenue:
    Interest Income......................... 97.575
    Unrealized Gain in Insurance Benefit....200.0
    Miscellaneous Income....................  2.7598133         
    Total Income............................               300.3348133 
Expenses:
    Share Payment Expense...................110.0
    Trade Fee Expense.......................  0.2598196
    Miscellaneous Expense...................  0.031
    Total Expenses..........................               110.2908196 
Net Income..................................               190.0439937

Basic Earnings per common share.............                 0.20769835
Diluted Earnings per common share...........                 0.20769835
Dividends declared per common share.........                 0.09788414

S²CM
RETAINED EARNINGS STATEMENT
FOR THE MONTH ENDED JUNE 15, 2012

Retained earnings, May 16, 2012.............               (20.4800041)
Net Income for the Month....................190.0439937
Less Dividends.............................. 93.0499978
Increase in Retained Earnings...............                96.9939959
Retained Earnings, June 15, 2012............                76.5139918

S²CM
BALANCE SHEET
JUNE 15, 2012

ASSETS
Current Assets:
    Cash.................................... 89.5639959
Investments:
    Deposit Investments....................1000.0
Insurance:
    Guarantee...............................200.0
    Investment Insurance....................100.0
Total Assets................................              1389.5639959

LIABILITIES
Current Liabilities:
    Dividends Payable.......................                93.0500041

STOCKHOLDERS' EQUITY
Common Stock...............................1220.0
Retained Earnings........................... 76.5139918
Total Stockholders' Equity..................              1296.5139918
Total Liabilities and Stockholders' Equity..              1389.5639959

S²CM
STATEMENT OF CASH FLOWS
FOR THE MONTH ENDED JUNE 15, 2012

Cash flows from operating activities:
    Cash received as interest...............                97.575
    Cash received as return of investment...               100.0
    Cash received as miscellaneous income...                 0.2598169
    Deduct cash payments of creditors and 
    expenses................................                 8.2718232
Cash flows from investing activities:
    Cash payments for deposit investments...               600.0
Cash flows from financing activities:
    Cash received from issuing shares.......               500.0
    Cash payment of dividends...............                93.0499978
Cash at the beginning of the month..........                93.051
Net cash flow and June 15, 2012 cash
    balance.................................                89.5639959
Supplemental disclosure of cash flow
    information:
Dividends declared and not paid.............                89.5640022

Notes:

Change in CIO:
    Splatster has stepped down and imsaguy has taken up the charge of 
    CIO.

Changes in held Assets:
    During the course of this month, in hand with receiving funds from 
    the second issuance, we have placed additional funds in each of our
    previous investments and prior to taking on imsaguy we placed
    invested some funds with him. Since imsaguy has taken over the 
    position of CIO, we have began moving funds out of this placement 
    to avoid a conflict of interest. So far this has been a placement 
    with Bitcoin Investment Bank.

Reporting of Insurance as an Asset:
    In accordance with accounding standards heretofor unfollowed by the
    fund, we have begun to report our insurance holdings as assets.

Common Stock
    The number of issued, outstanding and authorized stock is 915 
    shares. These shares have limited voting rights which are outlined
    in the shareholder contract 
    (https://bitcointalk.org/index.php?topic=74216.0). A dividend yeild
    is not yet calculable as S²CM has been in operation for less than 
    one year.

Signed,
Michael Carver
also known as 
smickles
Financial Officer	

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[ErebusBat]

@smickles

What software do you use to generate that report, it is very clean, surely you don't do it by hand

[smickles]

@smickles

What software do you use to generate that report, it is very clean, surely you don't do it by hand

sorry for the late reply. I have had some traveling to take care of.

of course I don't generate the reports by hand. I use a text editor

[ErebusBat]

@smickles

What software do you use to generate that report, it is very clean, surely you don't do it by hand

sorry for the late reply. I have had some traveling to take care of.

of course I don't generate the reports by hand. I use a text editor

hardcore

[imsaguy]

@smickles

What software do you use to generate that report, it is very clean, surely you don't do it by hand

sorry for the late reply. I have had some traveling to take care of.

of course I don't generate the reports by hand. I use a text editor

hardcore

[Bitcoin Oz]

@smickles

What software do you use to generate that report, it is very clean, surely you don't do it by hand

sorry for the late reply. I have had some traveling to take care of.

of course I don't generate the reports by hand. I use a text editor

hardcore

lol

[ErebusBat]

@smickles

What software do you use to generate that report, it is very clean, surely you don't do it by hand

sorry for the late reply. I have had some traveling to take care of.

of course I don't generate the reports by hand. I use a text editor

hardcore

http://cdn.memegenerator.net/instances/400x/22524317.jpg

Funniest meme ever!

[memvola]

Hey! What's the July report/dividend situation? Is notepad broken?  Try emacs.

[teek]

Hey! What's the July report/dividend situation? Is notepad broken?  Try emacs.

+1

[smickles]

Hey! What's the July report/dividend situation? Is notepad broken?  Try emacs.

The current situation is that I've sent the dividend funds to glbse and it's not yet in the account after 8 confirmations.

The whole situation is that I haven't yet completed the report, caused by personal issues which should not have affected my performance for S2CM.

I expect the dividend to be posted shortly and I will have the report completed as soon as I can. I will be working on nothing but the report for the rest of today.

I'm sorry for not doing what I have promised to have done.

[smickles]

The dividend has gone through.

0.14142077 BTC per share.

[memvola]

I'm sorry for not doing what I have promised to have done.

This is one of the best managed assets out there. Thank you for taking this seriously.

[smickles]

Code:

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On 2012-07-19 00:49:15 I purchased 26 shares at 1.5 BTC each for a total value of 39 BTC.
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[smickles]

Code:

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On 2012-8-5 I sold 25 shares at 1.9 BTC each, total value of 47.5 BTC.
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[smickles]

Code:

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S²CM - GLBSE:SS
August 16, 2012 (Period: June 16, 2012 - July 15, 2012)

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

To the Shareholders of S²CM:

I have completed S²CM's financial statements for the month ending July 
15, 2012. In my opinion the following statements accurately and fairly 
present the financial position of S²CM.

S²CM
INCOME STATEMENT
FOR THE MONTH ENDED JULY 15, 2012

Revenue:
    Interest Income.........................108.0
    Unrealized Gain in Insurance Benefit....  0.0
    Miscellaneous Income....................  0.0               
    Total Income............................               108.0       
Expenses:
    Share Payment Expense...................  0.0
    Trade Fee Expense.......................  0.0      
    Miscellaneous Expense...................  0.0  
    Total Expenses..........................                 0.0       
Net Income..................................               108.0      

Basic Earnings per common share.............                 0.11803278
Diluted Earnings per common share...........                 0.11803278
Dividends declared per common share.........                 0.11803278

S²CM
RETAINED EARNINGS STATEMENT
FOR THE MONTH ENDED JULY 15, 2012

Retained earnings, June 16, 2012.............               79.9999937
Net Income for the Month....................108.0
Less Dividends..............................108.0
Increase in Retained Earnings...............                0.0
Retained Earnings, July 15, 2012............                79.9999937

S²CM
BALANCE SHEET
JULY 15, 2012

ASSETS
Current Assets:
    Cash....................................107.99999865
Investments:
    Deposit Investments....................1000.0
Insurance:
    Guarantee...............................200.0
    Investment Insurance....................100.0
Total Assets................................              1407.99999865

LIABILITIES
Current Liabilities:
    Dividends Payable.......................               108.00000495

STOCKHOLDERS' EQUITY
Common Stock...............................1220.0
Retained Earnings........................... 79.99999370
Total Stockholders' Equity..................              1299.99999370
Total Liabilities and Stockholders' Equity..              1407.99999865

S²CM
STATEMENT OF CASH FLOWS
FOR THE MONTH ENDED JULY 15, 2012

Cash flows from operating activities:
    Cash received as interest...............                108.0
    Cash received as return of investment...                 0.0
    Cash received as miscellaneous income...                 0.0      
    Deduct cash payments of creditors and 
    expenses................................                 0.0      
Cash flows from investing activities:
    Cash payments for deposit investments...                 0.0
Cash flows from financing activities:
    Cash received from issuing shares.......                 0.0
    Cash payment of dividends...............                89.56399725
Cash at the beginning of the month..........                89.56399590
Net cash flow and June 15, 2012 cash
    balance.................................               107.99999865
Supplemental disclosure of cash flow
    information:
Dividends declared and not paid.............               108.00000495

Notes:

Retained Earnings:
    An error in the amount of retained earnings was discovered and corrected.

Common Stock
    The number of issued, outstanding and authorized stock is 915 
    shares. These shares have limited voting rights which are outlined
    in the shareholder contract 
    (https://bitcointalk.org/index.php?topic=74216.0). A dividend yeild
    is not yet calculable as S²CM has been in operation for less than 
    one year.

Signed,
Michael Carver
also known as 
smickles
Financial Officer
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[smickles]

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On 2012-8-16 I sold 1 share at 1.72.
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[brendio]

Code:

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On 2012-8-16 I sold 1 share at 1.72.
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Director selling! Quick, everyone sell, sell, sell! 

[smickles]

Code:

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Director selling! Quick, everyone sell, sell, sell! 

lol, yeah, do that, right into my buy