Dividend LEM: posted

A dividend of 0.045 $L /share was posted today for LEM:WSE

The financial report will follow on 2nd November.

Greetz

Casper Trebuchet

LEM, CEO

House of derivatives (LFB, LWI, LHH, and not yet approved IPO LEM Knock-In WSEIndex)

http://lemurinvest.blogspot.com

LEM IPO Booster (LPB) - new IPO at WSE!

and waiting for approval..

There are too many IPO waiting for approval right now. As IPO's are an important factor in SL economy we have to find ways to make them more attractive.

One is to improve the quality of the IPO's and build up a financial polster which permits to realize them in short time. Finally, services are needed to support their first steps till they are profitable.

LEM:WSE developed quite a few experiences with company anlaysis but in the same time is constently struggling over conflicts of interest. You cannot analyse a company where you are engaged yourself financially.

To find a solution we created LPB (LEM IPO Booster) which is a daugther company under differnet management and focused on supporting IPO in order to bring them faster on the market.

LPB will :

- Analyse buiness model, comeptence of management team and future perspectives of IPO's
-Complete their management team if required
-Offer financial support and consultancy work

IPO will be supported till they become profitable and then LPB will refocus and reinvest profits into new projects.

We thinks this business model fits actual and future needs of stock exchnage markets in SL rather good and has devleopement potential.

If you are interested then have a look in the prospectus of LEM IPO Booster... thank you.

We also are interested to complete the management team, in first order the position of an CEO. If you are interested then feel free to postulate.

And as LEM IPO Booster is waiting to get approved ... rate it ...!

Greetz

Casper Trebuchet
LEM, CEO
House of derivatives (LFB, LWI, LHH)
Analyst, WSE

http://lemurinvest.blogspot.com

HCL at 2.63 $L/share! Above barrier!

Cheers for you - shareholders... HCL shares really touched 2.63 $L today! Unbelievable! Could we get a better invitation to become confident into WSE again...

About LHH we are less enthusiastic as our risk is increased too. So cheers for you and sleepless nights for us as we have to bear the consequences...

The maximum HCL share price of 2.63 $L/share of today is above the predefined barrier of 1.7 $L/share. Based on a HCL share price of 2.63 $L the pay back for LHH will be a minimum of 3.67 $L /share on 15MAR08 (compare with calculation in the prospectus).

In other words LHH increased 367% in only five weeks time which is surely not a bad investment for you. Hopefully for you HCL will reach again the values it had this spring as there is no upper limit, so as soon as HCL is reaching a new highest value it will be frozen for you and the pay back will increase too…

Greetz

Casper Trebuchet

LEM, CEO
House of derivatives (LFB, LWI, LHH and LEM Knock-In WSEIndex as not approved IPO)
Analyst, WSE

http://lemurinvest.blogspot.com

LWI - business report

Sorry for the delay with our report, we had some minor technical problems we had to fix first. The status of LWI after its three months existence is listed below (24th October 2007):

symbol, spotprice(S), dividends(D), 24 hr average price(Y), branch, LEM:rating
==============================================================================
RDX, 3.19, 0.038, 0.92, technology
AMS, 0.27, 0, 0.11, technology, gaming
DDE, 3.72, 0.352, 3.32, real estate, STRONG BUY
ETC, 0.92, 0.01, 0.57, environmental services
HCL, 1.84, 0, 1.12, financial services, BUY
HOT, 2.95, 0.337, 2.81, finanical services, BUY
KJL, 1.38, 0.055, 1.21, real estate, HOLD
LEM, 1.6, 0.13, 1.40, investment banking
LGO, 0.81, 0.03, 0.35, technology
LLL, 1.87, 0.341, 1.87, construction
RIS, 0.95, 0.04, 0.44, services
MDC, 2.38, 0.302, 2.18, investment banking
THI, 1.54, 0.025, 0.56, financial services
TMA, 3.75, 0.053, 1.42, automotive
VGI, 1.0, 0, 0.58, technology, gaming
(LWI15) 686.86

We took PNK from the list which brings our index down to 15 titles what we consider to be the absolute minimum.

The index stabilized during the last month and started to gain again. The index is still down 33.14% since 18th of July (http://www.slquotes.com/lemur) and dividends are included in this calculation. Four titles (DDE, HOT, LLL, MDC) are traded higher as on 18th July.

WSE forces companies to publish their financial data. There are still a few in the index which haven't yet. All those we watch carefully .. and will adapt the index accordingly.

We think that as soon we get a more clear picture about the financial situation of all companies at WSE confidence of the shareholders will come back to the stock exchange. The completion of WSE 4.0 will also add some momentum. Traded volume rised significantly over the last days and even without the movements in HCL shares. We hope that this trend will continue.

Share prices for LWI are at 9.49 $L. We think this price is far to optimistic. Please make sure that you read and understood the "business strategy" section of our prospectus before you buy this derivative. If you would have any questions then please ask me, it would be a pleasure to explain you the product.

Greetz

Casper Trebuchet

LEM, CEO
House of derivatives (LFB, LWI, LHH, and LEM Knock-In as not yet approved IPO)
http://lemurinvest.blogspot.com


Reminder:
Our index doesn’t use weighted market capitalization because of missing free float. Unfortunately, but with the criteria below we believe to have selection criteria which are rather adapted to the situation and reflects the market quite good enough:

(1) Market cap (> 1.5 million $L)
(2) Free float (> 20%)
(3) Market presence (since three month on the board)
(4) performance till now (weighted, dividend included = positive)
(5) Business idea
(6) Management skill, communication
(7) Economic branch the company is active in
(8) Rating of analysts

HCL at 1.65 $L !!! - Competition starts!

HCL almost hit barrier of 1.7 $L per share today...just 5 ct were still to go! When will this happen?

We would like to start a small competition. YOu can send me a note with full SL-name and SDT-date/time when you think that the barrier of 1.7 $L/share for HCL will be reached. Deadline for this competition is 1st November 2007 as long as the barrier is not already reached before. Only 1 note per avatar is allowed. The winner gets 2000 $L.

Winner and statistics on bets will be published on our blog...hope we dont violate some LL laws..;-)..you never know in this LL.

Good luck
Casper Trebuchet

LEM, CEO
House of derivatives (LFB, LWI, LHH, and LEM Knock-in WSEIndex as not approved IPO)

http://lemurinvest.blogspot.com

Reminder
========
LHH is a derivative with call character on HCL shares. It freezes the highest share price of HCL once a predefined barrier is reached. See details in our prospectus WSE or our blog to learn more about it.

Spot date : 15SPE07 : 0.68 (1.70) $L
End date : 15MAR08
HCL at spot (15SEP07) : 0.68 $L
Barrier for HCL : 1.70 $L
LHH IPO issue price : 1 $L

If HCL>= barrier then
pay back =highest HCL/ HCL spot * LHH IPO

else pay back = average HCL/ HCL spot * LHH IPO

in both cases minus management fee of 5%.

LHH: October report

HCL shares went through a hard time but could recover during October and are stable at the moment. As soon as WSE 4.0 will be fully operational we expect that new money flows will come in and IPO section should come back to live. This will boost HCL but also LHH.

Statistics for HCL shares:
Average share price in last 30 days: 0.56 $L/share
Minimal share price : 0.22 $L/share
Maximal share price : 0.88 $L/share
Max. daily volume : 600’000 shares
Min. daily volume : 12’000 shares
Average share price (24h): 0.73 $L

Statistics for LHH shares:
Actual share price (24h): 0.84 $L
Minimal pay back price: 0.78 $L


Greetz

Casper Trebuchet
LEM, CEO
House of derivatives (LFB, LWI, LHH and LEM Knock-In WSEIndex as not approved IPO)
Analyst, WSE

http://lemurinvest.blogspot.com

============ reminder ==============
LHH is a derivative with call character on HCL shares. It freezes the highest share price of HCL once a predefined barrier is reached. See details in our prospectus WSE or our blog to learn more about it.

Spot date : 15SPE07 : 0.68 (1.70) $L
End date : 15MAR08
HCL at spot (15SEP07) : 0.68 $L
Barrier for HCL : 1.70 $L
LHH IPO issue price : 1 $L

If HCL>= barrier then
pay back =highest HCL/ HCL spot * LHH IPO

else pay back = average HCL/ HCL spot * LHH IPO

in both cases minus management fee of 5%.

Dividend announcement

LEM will pay a dividend of 0.045 $L/share on 1st of November 2007.

Casper Trebuchet
LEM, CEO

House of derivatives (LFB, LWI, LHH and LEM Knock-In WSEIndex as not approved IPO)
http://lemurinvest.blogspot.com

Market research: HCL:WSE

Outstanding shares : 25,856,126
Net Tangible Asset: L$-0.254
EPS: L$0.035
P/E Ratio: 21.18
Monthly Revenue: L$2029407.55
Monthly Expenses: L$1113892.59
Monthly Earnings (Net Profit): L$915514.97
Liabilities : ca L$ 12000000

To start with my analysis I have to admit that I own myself roughly 4% of all outstanding HCL shares and a derivative with call character on HCL is listed on WSE (LHH). Can I be objective then…? Well, I let you decide, some also may think that it is good sometimes to put the goat in the garden…

Let’s start with some provocations and negative aspects in relation to last report of HCL:

NTA: negative! In other words and if we believe the published financials there are 3 millions $L from IPO and 8 millions from revenues which resulted in liabilities of 12 millions. What happened here? If Luke hadn’t a reputation as straight guy we effectively should be more than worried.

HCB: 6.7 millions $L! Quite a bit of six packs you can buy for - and not even a symbolic dividend couldn’t be afforded. No, we learn that the money is used for the future development of WSE and that we should be happy about…ok, but where is the master plan also an average shareholder may understand, where the budget where the previsions – I don’t speak of the figures which were thrown at us and where we don’t know the source. You can read in between the lines of the last financial report of course to catch an idea or you are extremely imaginative ... I’m not sure whether we all are imaginative…

Ginko: They own 34.03% of all outstanding shares in WSE! I hope they don’t work with alter egos? You see the point. This is a huge burden for the whole WSE as we don’t know how Ginko will develop. As a big portion of their income is supposed to come over dividends from HCL and HCB I really wonder what will happen at the end of this month as dividends will be zero. Will they be able to pay one or simply disappear and increase the fan club of WTF? And why wasn’t the fact to get >20’000 users of Ginko bank used to gain them for the WSE with adapted marketing methods…?

Reporting: SL has short life cycles as it is such an innovative environment and hopefully our history related laws from RL will not invade this world and that the virtual world get a chance to create their own or get a kind of offshore status…ok, this is a daydream of Casper this time. It’s not sufficient if reporting is done only in a three months row. HCL is the main share on WSE and is setting the standards. If WSE want to gain confidence it should better take more care of the information need of the average shareholder…

Management: Some markets here pretend so much to be democratic, truthworthy, serious and professional that they become almost comic in a cyber world which is wild west. This is not true for WSE. However, unfortunately we are here on the other edge of the scale - a kind of dictatorship where shareholders are sheep and from time to time learn that the vet want them to go through the chemical dip. Well, I think as SL is a new environment we all have to be clever- sometimes it helps to find a middle way and consider others thoughts. A determined sheep herd is more powerful than a bunch of lions on a ego trip…lol…ok, I overdo here.

And come to the positive aspects:

Management: Luke is surely a skilled and straight guy who showed character during all these turmoil. We have to honor him for the work he put into WSE, the consistency and finally for the creation of the WTF also we don’t know yet about the details. And there is the problem. In a world like SL with all these crazy players like me there are so many different characters, ages, mentalities, professions and sexes linked to each other that communication problem (sorry for my Lindenspeak…lol) become a question of survival. There is some potential I think. The best possible world may fail on details. Learn to motivate your team and success will follow. I agree this is not easy to realize…but we all have to learn

System: Surely one of the best. And the link to RL also opens doors to a new world nobody can imagine, even if rumors speak about legal problems this may produce if the investors from RL are dealing on WSE without using the SL platform. You US avatars, give the rest of the world a chance…;-)…But rumors are rumors and still need to be proven. Till then SL will have reached already a next development level. As will WSE 4.0, hopefully.

New markets: The magic word is 3D-Web? I put a lot of value in this dream. I think that WSE is the only stock exchange at the moment which has the basis to explore this virtual white map with full strength. Just some adjustments are needed. The potential is huge, but also the risks. If a common consensus between WSE owner and investors can be found a straight forward development will be more probable and in the favor of WSE.

Customer services: Luke and his team is normally answering any serious request and asap and the often present concierge smitty the bunny may be sometimes a bit unserious but always good to turn any serious problem into a laugh. For me it is a good sign if people still can laugh better as if they hide between attorney made paragraphs and don’t stop to assure that it wasn’t their fault or responsibility…

A lot of text, probably too much so let’s come to the essentials.

Positive aspects:

1. Strong leadership also a bit zack-zack
2. Good and secured system which works
3. Business model which open doors to new markets in RL with huge potential
4. Most advanced and stable stock exchange market with more than 60 listed companies
5. Good customer relationship
6. 25’000 users can be motivated at any time with the right strategy to gain confidence into WSE
7. Good architecture which permits to add new elements easily

Negative aspects

1. Positive aspects can also be negative
2. Communication towards shareholders
3. Not democratic enough
4. To many open questions which leave space to rumors which spread in SL faster than in RL

Conclusion: I’m in dilemma as I cannot promote HCL without risking to see LHH to shoot into the sky which would worry me a bit…. So I put them on hold for the moment…believe the goat or not…lol…you anyway see if I would add some shares…

Average share prices we see at 1.2 $L/share in a three month time if WSE 4.0 will be fully operational.

Casper Trebuchet
Analyst, WSE

LEM, CEO
House of derivatives (LFB, LWI, LHH and LEM Knock-In WSEIndex as IPO)

http://lemurinvest.blogspot.com

Rock insurance on LEM

Please note that if you want to protect your investment in LEM you can do this since today over

http://www.therockinsurance.com/certificates/show/40

Min to insure is 1000$L and maximum 25'000 $L. Cost of insurance is 1.1% for 30 days.

Thanks
Casper Trebuchet

LEM, CEO
House of derivatives (LFB, LWI, LHH, LEM Knock-In WSEIndex in IPO)
Analyst, WSE

http://lemurinvest.blogspot.com

Market research : RDX:WSE

Redux Technologies (RDX:WSE)
https://www.wselive.com/research/company/48

Figures for SEP07:
==============
Assets : 12,000,000 $L
Outstanding shares: 100,000,000
Net Tangible Asset: L$0.12
Av. share price during last 30 days: 0.82 $L
Monthly Revenue: L$ 1,787,485

How does Redux, the CEO of RDX, sees her company? “I've always felt that most of my investors have shares in my company not because they've calculated the exact value or the projected dividends, but because they simply want to be a part of a good company”.

Well, is RDX really a good company or just an oversized dinosaur of the prehistoric phase of WSE? If we look at the number of outstanding shares we easily can compare RDX with a brontosaur. The market capitalization at actual prices (0.9 $L/share) is with 90 millions so heavy and the free float with less than 5% so little that even a small movement is already causing an earthquake at WSE (compare with www.slquotes.com/lemur all major WSMI picks are RDX related).

However, RDX possesses assets of 12 millions $L only if we forget about goodwill or the RDX-brand which has a high reputation in SL. But all these soft values are linked to Redux in person as RDX is a one woman show which make it very difficult to include them in any calculation. If we look at RDX in a negative and only fact driven manner it is surely overvalued with a Net Tangible Assets of roughly 0.12 $L /share as it is the case right now.

However, there are also positive aspects which have to be taken into consideration. Redux started her company from scratch and around her impressive scripting skills. In the meantime she could build up an excellent reputation for customer scripting and in a vast field from design up to web-based systems. Redux doesn’t do this alone. In parallel she built up an efficient and complementary business network in form of co-operations or subsidiaries (Kawa, Ada Labs just to name a few). All these combined scripting and design skills help to create a steady income which is only limited by her own personal workload she can invest. Basically this is a handicap. However, also it doesn’t look as Redux want to invest in more staff (except the clones of herself she is making…lol) she sees further important growth potential through her network. The pipeline for new scripting projects seems to be plenty for months.

Benefits were wisely invested from the beginning into real estate (14 island) a business which is also profiting from her scripting skills. At a rate of almost 2 new Islands per months which get added to her portfolio revenues from this activity will become more important in the future. The fact that real estate was the reason that RDX wrote red figures in September is related to special effects which shouldn’t be overvalued. This business branch is highly complementary to the scripting activities and has huge growth potential.

RDX is also offering banking services, especially currency exchange of larger amounts as RDX keeps a high standing balance instead of using the inworld banking systems. This business is also highly profitable.

Overall, we see RDX as aggressively in the market as a hungry Velociraptor which is looking for fresh prey- but only financial sharks are eaten - customers get a warm and comfortable place in her nest. Sorry, Redux is too much a nice furry so that I couldn’t resist to add a furry metaphor.

We recommend to buy this title at actual prices also the NTA is low because of the high number of outstanding shares. It’s one of the most stable titles on the WSE board and has growth potential. The actual real estate problems are only temporarily and are compensated due to other activities. We see the average share value in three months time at 1.2 $L and dividend at 2.5%.

Positive aspects:
• Very good management
• Clear and well adapted business model
• large network which permits to handle any scripting project from A-Z efficiently
• Excellent Customer relationship management
• Consistency of business and dividend history
• Good communication skills towards share holders
• Future outlook looks promising

Negative aspects:
• Too many different tasks for CEO which is a risk for further growth
• Number of outstanding shares to high and free float to small
• infrastructure, looks as RDX is victim of its own success


Casper Trebuchet
LEM, CEO
House of derivatives (LFB, LWI, LHH, LEM Knock-In WSEIndex as IPO)
Analyst, WSE

Market research : KJL:WSE

Kejo Merlin Land Group (KJL:WSE)
https://www.wselive.com/trade/order_entry/296

Net Tangible Asset: L$1.520
EPS: L$0.048
P/E Ratio: 22.95
Monthly Revenue: L$17169061.00
Monthly Expenses: L$16610990.00
Monthly Earnings (Net Profit): L$558071.00

KJL is an “European” based real estate company and as such suffered fully from the new VAT directives applied through Linden Lab and was forced to adapt its structure to the new situation. This will cause extra one time costs which will influence the financial figures for October negatively.

However, we also have to look at the positive aspects of KJL. It looks as SL is still expanding and real estate will remain a key economic driving force in SL.

Systems which combine a good management system (rental or selling), good design, excellent customer services and attractive prices will continue to find a challenging environment. KJL will be one of those.

In the last four months KJL just developed from 5 up to 32 SIMs which is an impressive growth rate and this with an occupancy rate of 90%. The merger with DDE failed but KJL hasn’t changed its growing strategy which is focused on the development of private SIMS, the Kat continent but also a costumer build tier solution system with SSL server connection. Latter allows to pay tier in RL-currency and over PayPal. Already 20% of KJL land owners are using this specific service.

The VAT issue affected the real estate business but on the other hand is also opening the door to new challenges.

On the cost side we will find the one time costs for the creation of a RL company in UK with VAT number which was registered last week. These costs are estimated to be more than 1 million $L which will influence the financial report of KJL for October.

Further operational annual fees (accounting and taxation) will be fully credited on KJL. The return on VAT on the other hand will be returned to KJL.

The fact that KJL is linked to a RL company will open new businesses with RL-companies wishing to use SL as their 3d-Webportal or as experimental marketing platform. Basically a huge potential can be seen in this development..

Because of the VAT issue the figures for KJL will not be good in the next month. However, we think that KJL is able to digest all these investments and continue to growth with the same speed as till now. Further measures of KJL to increase share holder value like shares buy back program or + dividend adjustments cannot be excluded.

However, one question is not yet answered. The failed merger must have changed plans of Kejo considerably. He actually owns <50% of the shares. What happens if he continues to reduce his parts in KJL. more.

We rate KJL at the moment with HOLD but see the development in three months time positively if circumstances develop as outlined. Target share price 1.2 $L /share and a dividend of 0.025 $L / share

Positive aspects:
• Experienced management team
• Clear and well adapted business model
• Combination SL:RL company opens new business challenges
• Consistency of business and dividend history
• Good communication skills towards share holders
• Future outlook looks promising despite VAT issues

Negative aspects:
• Heavy investments reduce profitability in the next months
• SL:RL relationship need to be mastered first
• Future of KJL as legal entity. What are the consequences of the failed merger with DDE?


Casper Trebuchet
LEM, CEO
House of derivatives (LFB, LWI, LHH, LEM Knock-In WSEIndex as IPO)
Analyst, WSE

Market research - HOT:WSE

Kush Islands (HOT:WSE)
https://www.wselive.com/trade/order_entry/140

Net Tangible Asset: L$0.000
EPS: L$0.100
P/E Ratio: 30.82
Monthly Revenue: L$513902.90
Monthly Expenses: L$314032.26
Outstanding shares: 2000000
Freefloat: 40%

HOT:WSE is focused on managing estate sim’s that use the so called ownership system not to be confused with rental systems. In other words, HOT is managing the SIM and the resident owns their own land and can also resell it. Coupled to this is the Kush Bank which offers a wide range of financial services.

This business model proofed to be extremely successful. Since April 07 when HOT joined the WSE board it continued to develop and could maintain a high dividend history. Actually HOT is adding a fifth SIM to its portfolio and the others have an occupancy rate which is close to 100%.

The business model is well adapted to the volatile environment of SL and wasn’t really harmed by any of these side effects the SL economy was suffering during this summer (gambling ban, bank crisis, VAT).

Rockwell sees clearly further growth potential. Expansion is financed through the use of short term foreign capital. Credit lines were increased to finance the 5th SIM and dividend will be reduced in the coming months till this loan is reimbursed but will still be attractive. In fact this period is a challenge to accumulate shares in HOT for an interesting price.

If the 5th SIM is fulfilling as planned we estimate a dividend of > 0.2 $L /share and a share price of 4.0 $L.

A message from the CEO “Kush Islands is a great choice for your portfolio if you are looking to gain exposure to the consistent revenue streams available in the estate land market. I invite you to visit our sims (Kush, Kush II, Kush III, Kush City, and soon Kush Keys) anytime!”

Positive aspects:
• Excellent management
• “Simple” but clear and well adapted business model
• Consistency of business and dividend history
• Excellent communication towards share holders
• Freefloat of 40%
• Future outlook looks promising

Negative aspects:
• HOT has no assets
• Who can replace CEO?

LEM, CEO
House of derivatives (LFB, LWI, LHH, LPI as IPO)
Analyst, WSE

Market research - DDE:WSE

Delicious Demar Enterprises (DDE:WSE)
https://www.wselive.com/trade/order_entry/44

Net Tangible Asset: L$4.966
EPS: L$0.340
P/E Ratio: 10.78
Monthly Revenue: L$1472118.00
Monthly Expenses: L$791393.00
Monthly Earnings (Net Profit): L$680725.00

The key figures for DDE:WSE let hardly space to add some critical statements. DDE is a real estate company with an incredible history log. This success is a combination of a diversified strategy which is using main and island sims as well as rental/sales activities.

DDE experienced a slow down during the summer depression in SL caused by gambling ban, banking crisis, VAT etc. However, the flexible strategy of DDE permitted to adapt accordingly and without losing too much even use this period to expand the portfolio. DDE reached a critical mass which permits to start expanding in a regular and controlled way. Occupation rate of its land is at 97%.

DDE owns 9 island and 7 mainland sims today which makes it to not only one of the biggest real estate companies in SL but probably the most profitable one. Also net profit published in the financial section are given before dividend so in reality a bit lower …;-( … but the profit is still very attractive!

It would be good if WSE would give more support in filling out the financials as it is not very clear – at least not for me.

The clear business model of DDE is a key factor of its success. However, it can also be a thread as the critical mass is already reached and further expansion could affect the profit margins negatively. It would be important therefore to use the critical mass to develop new services and products which can add further added value to the existing business.

DDE is still mainly a one woman show. However, concrete plans exist for the near future to expand the management structure and to increase the staff.

And what message does Delicious give us on our way? “ my numbers speak for themselves. DDE is the single most lucrative company on the WSE..” we believe her….

Monthly dividend in a three month time we see at 0.15 $L/share and share price at 5 $L and NTA of 6 $L.

Positive aspects
===========
Strong financial data
Clear and proven business model
Excellent management skills
Realistic perspective
Reached critical mass permits further expansion
Excellent communicator

Negative aspects
============
One woman show
Additional product and service development

Greetz
Casper Trebuchet
LEM, CEO
House of derivatives (LFB, LWI, LHH, LPI as IPO)
Analyst, WSE

LFB - divided and update

The average basket value reached a new bottom line with 56.78 which is 23% less then it was 4 months ago. The shareholder is still on the safe side and gets a dividend of 2%. It was paid just a moment ago.

As some companies in the basket undergo real difficulties we had to reorganize its composition and reduce the number of remaining titles from 6 down to 3.

We removed three titles:

AIG(:Capex) : AIG is simply a fraud of Sal Ackland/Investor Aellenvest
BNT(:Capex) : Delisted not only from WSE but now also from CAPEX and is not again traded yet
AMA(:WSE): Trading at WSE was halted again

The other titles got their weights changed accordingly.

Old (weight) = New (weight)
=====================
HCL (10) = HCL (20)
RDX (10) = RDX (20)
SML (2) = SML (4)

We stay optimistic about the future development of the economy and also the performance of the stock exchange markets as such. However, the development of the stock exchange markets was to euphoric in the beginning and what we see right now is just a needed correction phase to separate the good from the badly managed companies.

The reinforcement of the SL economy together with better companies and more adapted regulation will bring the stock exchange markets back to new highlights. Proof are the different indexes which start to climb again. WSE will certainly play a key role in this development.

Before I get too optimistic I say greetz and wish you a nice week

Casper Trebuchet

LEM, CEO
Analyst, WSE

House of derivatives (LFB, LWI, LHH, Lemur Knock-In WSEIndex as not yet approved IPO)

http://lemurinvest.blogspot.com

Lemur Future Fund (LFF)

Our wealth management instrument LFF is growing.

Actually we manage 530'000 $L splitted into 420'000 shares.

LFF is an openend fund which is investing its capital after the following model:

25% bonds
50% shares (mainly WSE)
20% direct investment into SL projects
5% cash

From today on we publish the actualy NTA (net tangible assets)of the portfolio weekly on our blog- always on Monday.

The NTA for today was 1.14 $L /share which is an increase of 14% in the last week.

If you are interested to learn more about this product you can contact me inline.

LFF is not traded at a stock exchange.

Greetz

Casper Trebuchet

LPI : Maximum interest rate increased

We analysed the overall market situation and recalculated our risk. We decided to adjust the conditions for LPI (LEM Knock-In on WSEIndex) our newest derivative with put character on LWI16 which is waiting for its approval as IPO at WSE.

We see the market less negative ... and increased maximum interest rates from 9% to 20% per month. We think this is in the interest of potential shareholders.

See also prospectus of LEM Knock-In on WSEIndex at the IPO approval list.

Greetz

Casper Trebuchet

LEM, CEO
House of derivatives (LFB, LWI, LHH, LPI waiting for approval)
Analyst, WSE

http://lemurinvest.blogspot.com

PS: LWI16 is an equally weighted index on 16 selected titles which are traded on the WSE board. The development of LWI16 can be followed in real time on our blog.

LPI : Bearish markets and you win!

with a derivative which has a put character...LPI (LEM Knock-in on WSEIndex)

And people say that I'm always so positive in my blog about the future development of stock exchnage markets in SL...no - this time I'm not.

If you think the stock exchnage will stay bearish you should conisder this special financial vehicle with put character.

A minimal interest of 2% p.m. is guarantieed and the worser the market becomes the better for you as interest will climb up to a max of 9% p.m.

In other words, to support LPI with your high rating in the new IPO section (current IPO applications)of WSE will bring this product faster to the market.

Greetz

Casper Trebuchet

LEM, CEO
Analyst, WSE

House of derivatives (LFB, LWI, LHH and LPI as not approved IPO)

http://lemurinvest.blogspot.com

Approved WSE-analyst!

Yeah, the rumors are right we got the label.. and even started our first survey, reason we come up with some further information.

WSE is surely not RL and it is better like this. As an experimental platform WSE has a right to exist and even has the possibility to grow into a future niche market. The future will show us whether this is true or not.

Doing analysis over companies which can manipulate their reporting, fake business activities or simply violate and rob their shareholders sounds like blank nonsense.

May be it is. However, I see this more positively. As there are no rules in this cyber world except the management by blitzkrieg exercised by Linden Labs in an irregular matter the community as such becomes more important. Understand me well, I’m not looking for rules and security here in SL. I basically don’t trust people who keep saying how honest or trustworthy they are etc... The story around Capex and Allenvest is a good example for this- dear Sal-/vest was a champion of honesty and regulated stock exchange- the result we all know. In fact I prefer a crock who says he is a crock so at least I know how I have to deal with him…The same for systems, nothing is worse than systems which try to give you a feeling of security when there is none…

On the other hand there is a need to inform about basic things so that the average shareholder can easily make himself a better picture- this is how I understand stock-analysis in SL.

(a) Figures and facts. Companies at WSE are now forced to publish their results. Also in a simplified matter it already will bring some stability into the market, as you can compare figures now, have a basis to ask questions or simply to control whether the figures are plausible or not. Fraud will also be reduced as criminals normally are looking for short profit and not for fulfilling plenty of boring CEO duties
(b) Responsibility: Each CEO should take responsibility. Check the figures! Doing the financials will help the company owners to see where they are with their company and be prepared to answer the questions of their shareholders. The quality of shareholder-CEO relationship will improve. To have a company at WSE is a task and duties are related to it. The CEO has to take responsibility towards his shareholders and communicate…
(c) Activity: How many companies were/are in the red figures and their only income was due high interest they got with high yield CD’s. We know the story. I wouldn’t like to know how many companies at the board are affected because of the decline of the Tizzy paradise or all other bank dreamlands – unfortunately quite a lot.
(d) Power of the mob: If analysis start and shareholders become more critical then also the quality of companies will improve. It is a kind of self regulated system which is a huge chance to learn about in real time for any maniac in anthropology or evolution theory..and there are quite a few furries in SL…

Ok, will stop here. Stock analysis is a bit of all of this or in other words a kind of truth finding tool.

What do we analyse?

(1) Business idea
(2) Market presence
(3) Performance till now
(4) Management skills, communication
(5) Economic branch the company is active in
(6) Free float
(7) Business environment (customer satisfaction, etc)

Basically we use data we find publicly but also put a lot of efforts in direct interview with the CEO or board members. We don't give however any guarantee about the truthworthiness of our results!

Analysis we plan to do on a monthly basis, also in relation to the index we calculate (see derivative LWI at the board). The first survey just started now.

The first reactions from CEO’s were quite positive except those who have a reason to play low profile…lol…really? We will see.

We will start to offer this service for free.

Related to all this work which need to be done I’m also looking to hire an analyst.. proposals are welcome!

Greetz

Casper Trebuchet
LEM, CEO

House of derivatives (LFB, LWI, LHH)
Approved analyst, WSE

http://lemurinvest.blogspot.com

Financial report

Summary
=================================================================================
NAV rose in September from 2.180 to 2.406.
Net profitability of equity is 3.3% /month
Dividend is 4.5% /share/month

Different events influenced this month’s activities of LEM. To start with the bad ones we also got caught in all these different tales around Tizzyland/Sal-vest. On the good side we can claim to have gotten our approval as WSE-analyst. We also traded quite successfully and for the first time we used SL to accomplish a mandate from RL. We were also active on the derivative front and brought a new product to the WSE board (LHH). Last but not least and as announced before we reduced the number of outstanding shares down to 1’500’000 as we think to act in the interest of the share holder and also to increase free float. Latter could be reduced to 66.67%.

We will continue to develop new financial derivatives expand our financial services for third parties and intense our activities to bring RL companies into SL.

Dividend was left at 4.5% as we think it reflects our business more realistic and was backed by the reserves.


Results for September (August)
================================================================================
Income ($L):
------------
Financial products : 428’744 (460'693)
Consulting : 62’000 (10’000)
TOTAL : 490’744 (470'693)

Expenses ($L):
--------------
Financial Products : 425'000
Donation : 0 (0)
Tier : 6’000 (10'000)
Wages : 10’000 (10'000)

TOTAL : 441’000 (449'000)

Profit ($L) : 49’744 (31'693)

Asset ($L)
----------
WSE : 2503717 (2'726'175)
SLCX : 867’377 (1'301'020)
DSE : 62’000 (68'000)
ISE : 16’425 (14'320)
VsTec : 0 (120'111)
Land : 5’000 (5’000)
Loan : 3’000’000 (2’800’000)
Cash : 733’190 (920'532)
Investment : 14’000 (14'000)

Total : 7’201’709 (7'969'158)

Liabilities ($L)
----------------
Loan : 3’500’000 (3'500'000)
Dividend : 95’000 (110’000)
Total foreign capital : 3’595’000 (3’610’000)

Constitutional capital LEM: 1’500’000 (2’000’000)
Constitutional capital LFB: 464’480 (1’000’000)
Constitutional capital LWI: 130’026 (430’026)
LEM Future Fund : 498’000 (498'000)
Reserves : 509’518 (359’799)
Retained earnings : 0 (40'000)
Profit : 49’744 (21'693)
Total equity : 3’606’709 (4'359’158)

Total liabilities: 7’201’709 (7'969'158)

Monthly dividend/share : 0.045 $L /month (0.045)
NAV 2.406 (2.18)


Notes:
========================================================================
(1) General: LEM became victim of the Tizzy and Sal-Allenvest fraud. We depreciated all these assets, also we hope to recuperate some or all of them. Strong positions we held in HCL, however we are not planning to control more than 5% of the outstanding shares. On the other hand we reduced our participation in SLCX

(2) Consultancy income increased due to work we organized for RL companies in SL. VAT issues don’t hamper us.

(3) LFB really sucks at the moment. AIG is delisted, BNT too, AMA, SML and HCL are still weak and RDX has no stability as it suffers from the non-existent free float. At actual share prices for LFB which are around 7 $L/share profitability is more than 50% p.a.! If the situation for AIG and BNT will be solved in the near future we will examine the situation and probably close the derivative prematurely.

(4) LWI is just reflecting the overall situation of the stock exchange market within SL and which is still bearish. No surprise after all these debacles about gaming, banking and now even VAT. The index needs some adaptations. As WSE-analyst we will monitor the companies which are considered and the needed corrections will be done. We feel that the economy in SL start to grow again and that WSE will be one of the main players in such a scenario.

(5) LHH. HCL restarted trade on the same level as before the trading stopped last week, however, the new system is great and should help to bring back confidence to potential investors.

(6) LEM Foundation. We definitively put our offices on Etopia Island and I even contribute actively as CFO of ETC on the future development of the concept. All owenings of LEM Foundation are at the moment invested in ETC shares

7) LEM Future Fund (LFF)
LFF is doing fine with a portfolio of over 500’000 $L. Basically we keep LFF as closed fund but can open it after discussion with potential investors. Minimal investment is 10'000 $L and at the moment 25% are invested in bonds, 20% in project within SL, 5% in cash and 50% in shares. Inner prices will be soon published on our blog.

8) Web: Our blog becomes too overloaded and we will have to move to a web. We hope to be ready till end of this month
.

Next report:
===================================================================================
Next report will be published on November 2. Updates values for NAV, LFB, LWI and LHH are published on our blog (http://lemurinvest.blogspot.com)

In case of further questions please IM Casper Trebuchet

Greetz
Casper Trebuchet
LEM, CEO

House of derivatives (LFB, LWI, LHH)
http://lemurinvest.blogspot.com