Summary
=================================================================================
NAV rose slightly from 3.82 to 4.08 $L per share during January 2008.
Net profitability of equity after dividend was up to 6.12% per month (previous=5.89%)
Dividend is 0.045 $L /share/month
As WSE is closed only limited trading was possible during the first days of January. However, we were lucky with some transactions which had a positive impact on our earnings.
LEM started to finance real estate projects. A first project on mainland (Gomphus) was realized. Based on the experiences further investments are possible.
LEM changed its board to better reflect its businesses. A first board meeting will be held in the beginning of February.
LEM will continue to develop new financial derivatives expand our financial services for third parties and intense our activities to bring RL companies into SL.
Results for January 08 (December 07)
================================================================================
Income ($L):
------------
Financial products : 372’240 (181’399)
Trading : 54’300 (54’900)
Consulting : 4’250 (4’250)
Stock sell : 162’830
Others : 117’146 (15’825)
TOTAL : 372’240 (200’838)
Expenses ($L):
--------------
Financial Products : 117’995 (84’154)
Donation : 0 (0)
Tier : 6’000 (6’000)
Wages : 10’000 (10’000)
Stock purchase : 133’551
TOTAL : 267’546 (117’500)
Profit ($L) : 104’694 (100’684)
Asset ($L)
----------
WSE : 5’170’314 (4’741’752)
SLCX : 956’005 (1’015’474)
DSE : 39’432 (56’230)
ISE : 23’463 (21’740)
Land : 6’000 (6’000)
Loan : 0 (0)
Cash : 809’241 (768’825)
Investment : 15’000 (15’000)
Total : 7’573’382 (6’651’021)
Liabilities ($L)
----------------
Loan : 500’000 (0)
Dividend : 86’234 (114’895)
Total foreign capital : 586’234 (114’895)
Constitutional capital LEM: 1’710’756 (1’710’756)
Constitutional capital LFB: 462’540 (462’540)
Constitutional capital LWI: 130’026 (130’026)
Constitutional capital LHH: 1’572’705 (1’572’705)
LEM Future Fund : 518’000 (518’000)
Reserves : 2’488’428 (2’041’415)
Profit : 104’694 (100’684)
Total equity : 6’987’148 (6’536’126)
Total liabilities: 7’573’382 (6’651’021)
Monthly dividend/share : 0.045 $L /month
NAV 4.08 (3.82)
EPS 6.12% (5.89%)
Notes:
========================================================================
(1) General: LEM is waiting to WSE 4.0 and has some expectations. First that the number of interesting IPO will increase and secondly that this will have a positive influence on the volums. The fact that WSE has their own currency (WIC) opens a door to new virtual businesses and which are independent from LL and its policy. We don’t see this negatively.
(2) Consultancy work was again down which is mere a question of RL occupancy of myself. We still are looking to find ways to expand it. +
(3) Trading brought steady returns of 54’300 $L and this even with a WSE down. We are not planning to aggressively expand this business in 2008
(4) LEM still has an important participation of roughly 5% at HCL. Part of this investment is related to risk management because of our derivative LHH which is a high score product on HCL shares. However, we see these investments still as strategical as we believe in the future of WSE. As outlined under (1)
(5) LFB:WSE: Nothing can be said at the moment as the shares of the basket are not traded as is LFB. We think however, that LFB will restart trading where it was halted. LEM changed the prospectus to put it in line with new LL banking rules. We are no longer guarantee anything and paying dividends instead of fixed interests…good wording to all of us.
(6) The derivative LWI:WSE reached its end on 18th January 2008. As outlined before we will try to go into a SPO as soon as WSE 4.0 is opening again
(7) LHH:WSE: No changes. Pay back value is still 3.67 $L/share.
(8) LEM Foundation. We will further invest in Etopia Island to support their sustainable efforts. A new SIM is operational and ETC will go through a SPO in January/February. LEM foundation will support this SPO financially. This investment reflects our commitment to sustainable investment.
(9) LEM Future Fund (LFF): As WSE is closed no actual portfolio value can be calculated. We will inform our investors as soon as WSE is open again.
(10) LEM has a new board and a new HQ (see link on our blog) from 1st February 2008 on. The board will consist of four members:
-Saya Sakai (ladies first), CDO, Chief design and sales officer
in alphabetical order
-Konner McDonnell, CCO, chief communication officer in LEMspeak
-Smithers Daviau, CTO, chief technical officer and master bunneh
and
-plus me, as CEO.
The changes are needed as LEM is growing and diversed its activities into new business branches.
At this place I also want to thank the leaving board members for their tremendous contributions which turned LEM into a successful business and for their friendship which hopefully will continue.
Net profitability of equity after dividend is 6.12% (5.89%) p.m.
Dividend is 0.045 $L/share/month
Next report:
===================================================================================
Next report will be published on March 2, 2008. Updated values for NTA, LFB, LWI and LHH are published on our blog (http://lemurinvest.blogspot.com)
In case of further questions please IM Casper Trebuchet or send me an e-mail: casper.trebuchet@gmail.com
Greetz
Casper Trebuchet
LEM, CEO
Analyst, WSE
House of derivatives (LFB, LWI, LHH, LEM IPO Booster as not yet approved IPO at WSE)
http://lemurinvest.blogspot.com
Thursday, January 31, 2008
Saturday, January 26, 2008
LEM: Prospectus update and various matter
Dear all,
we've adapted to the LL banking policy by rephrasing a few key items in the prospectus of our derivatives (LFB, LWI, LHH): replacing interest by dividend and avoiding the term "guaranteed". Nothing fundamental has changed and LEM togehter with all its derivatives fully apply to the TOS of WSE.
However, if you have concerns or questions please feel free to IM me or send me an e-mail: casper.trebuchet@gmail.com
I also like to take the opportunity to communicate to you that LEM will have a new board from february 08 on. It consists of four members:
-Saya Sakai (ladies first), CDO, Chief design and sales officer
in alphabetical order
-Konner McDonnell, CCO, chief communication officer in LEMspeak
-Smithers Daviau, CTO, chief technical officer and master bunneh
and
-plus me, as chieftain somewhere on a tree.
I wish us only the best...
As WSE is still closed it is a bit difficult to operate LEM in a normal way. As soon as WSE is open again we will decide on our reporting and dividend payment for LEM but also its derivatives. We will keep you posted.
Happy waiting and greetz
Casper Trebuchet
LEM, CEO
House of derivatives (LFB, LWI, LHH)
http://lemurinvest.blogspot.com
we've adapted to the LL banking policy by rephrasing a few key items in the prospectus of our derivatives (LFB, LWI, LHH): replacing interest by dividend and avoiding the term "guaranteed". Nothing fundamental has changed and LEM togehter with all its derivatives fully apply to the TOS of WSE.
However, if you have concerns or questions please feel free to IM me or send me an e-mail: casper.trebuchet@gmail.com
I also like to take the opportunity to communicate to you that LEM will have a new board from february 08 on. It consists of four members:
-Saya Sakai (ladies first), CDO, Chief design and sales officer
in alphabetical order
-Konner McDonnell, CCO, chief communication officer in LEMspeak
-Smithers Daviau, CTO, chief technical officer and master bunneh
and
-plus me, as chieftain somewhere on a tree.
I wish us only the best...
As WSE is still closed it is a bit difficult to operate LEM in a normal way. As soon as WSE is open again we will decide on our reporting and dividend payment for LEM but also its derivatives. We will keep you posted.
Happy waiting and greetz
Casper Trebuchet
LEM, CEO
House of derivatives (LFB, LWI, LHH)
http://lemurinvest.blogspot.com
Wednesday, January 16, 2008
LEM: Update
LEM decided to invest into its first real estate project within SL
http://slurl.com/secondlife/Gomphus/137/110/251
It's a piece of mature main land we explore in co-operation with Saya Sakai Estate a specialist in design and resell. Roughly 80% of the area is rented out at the moment. If you are interested you can IM SAYA SAKAI, the manager, inworld.
We think dragonflies (gomphus..) fit perfectly to Lemurs, they cause fear during daytime and Lemurs as nightmares..lol
Furthermore we are in train to move our main office to a new destination on Universe Island.
The old offices on Etopia Island we will maintain. We will use them as home of our LEM foundation which is supporting and financing projects within SL with sustainable character. As Etopia Island is such a development project there is good reason to stay there. We are financing part of the development and will further support Etopia in its development. Recently a second SIM was added, come have a look too.
LEM Invest
http://slurl.com/secondlife/Universes/24/206/21
LEM Foundation
http://slurl.com/secondlife/Etopia%20Island/178/82/23
Coming back to our core business. We wait with agony to what will happen after 22nd January. Prinicpally we will continue with our business as before. Unfortunately the information given from LL is not at all clear towards our derivative products.
However, we will not start to hire attorneys etc also we did our research. I have to add that things become quite complicate as I'm Swiss resident and not US or even Canadian as some people think in SL. Should I come up with a RL company identification and then after Swiss or USA law? I could continue easily as there are so many open question and probably no answers. We decided to continue in a pragmatic way. We will clean our products on WSE in what we think is in accordance with the new bank regulation of LL and develop a plan B for reimboursement if new concerns would appear. This mainly concerns our derivatives.
As you can see in the picture, we are still doing fine and enjoying the winter sun. In the beginning of February we will held a shareholder meeting to discuss future development and in the same time allocate a new board to represent our new expansion policy. The exact meeting will be communicated on 24th January.
Greetz
Casper Trebuchet
LEM, CEO
House of derivatives (LFB, LWI, LHH)
http://lemurinvest.blogspot.com
http://slurl.com/secondlife/Gomphus/137/110/251
It's a piece of mature main land we explore in co-operation with Saya Sakai Estate a specialist in design and resell. Roughly 80% of the area is rented out at the moment. If you are interested you can IM SAYA SAKAI, the manager, inworld.
We think dragonflies (gomphus..) fit perfectly to Lemurs, they cause fear during daytime and Lemurs as nightmares..lol
Furthermore we are in train to move our main office to a new destination on Universe Island.
The old offices on Etopia Island we will maintain. We will use them as home of our LEM foundation which is supporting and financing projects within SL with sustainable character. As Etopia Island is such a development project there is good reason to stay there. We are financing part of the development and will further support Etopia in its development. Recently a second SIM was added, come have a look too.
LEM Invest
http://slurl.com/secondlife/Universes/24/206/21
LEM Foundation
http://slurl.com/secondlife/Etopia%20Island/178/82/23
Coming back to our core business. We wait with agony to what will happen after 22nd January. Prinicpally we will continue with our business as before. Unfortunately the information given from LL is not at all clear towards our derivative products.
However, we will not start to hire attorneys etc also we did our research. I have to add that things become quite complicate as I'm Swiss resident and not US or even Canadian as some people think in SL. Should I come up with a RL company identification and then after Swiss or USA law? I could continue easily as there are so many open question and probably no answers. We decided to continue in a pragmatic way. We will clean our products on WSE in what we think is in accordance with the new bank regulation of LL and develop a plan B for reimboursement if new concerns would appear. This mainly concerns our derivatives.
As you can see in the picture, we are still doing fine and enjoying the winter sun. In the beginning of February we will held a shareholder meeting to discuss future development and in the same time allocate a new board to represent our new expansion policy. The exact meeting will be communicated on 24th January.
Greetz
Casper Trebuchet
LEM, CEO
House of derivatives (LFB, LWI, LHH)
http://lemurinvest.blogspot.com
Wednesday, January 9, 2008
LEM: Update and New Banking Policy from LL
LEM feels obliged to give an update in relation to the latest news from LL and WSE but also about ourselves.
We basically support the new ruling from LL also applied in a not understandable way and think that this will not only help to reduce fraud and thefts inside SL but also to reinforce SL economy in the mid and long run.
To diverse our businesses LEM started a co-operation with a SL-estate company in order to realize real estate projects where we see a lot of growth potential.
All these events will influence the profitability of our company negatively during January. On the other hand we will create an even more stable fundament which will allow future growth for LEM.
As soon as WSE 4.0 is operational we will hold a shareholder meeting and elect a new board in accordance with the new constitution of WSE.
New bank ruling/WSE trading halt:
================================
2008 really started hectic but LEM thinks only for the good. The trading halt at WSE of 30 days was a major event for us and we wrote already about the impacts this has on our activities. They are important but can be seen as an investment in the future development of something new – the first worldwide cyber stock exchange market! LEM thinks that this investment risk is worth to be taken.
The new banking policy of LL is aiming in the right direction in the mid and long term. However, LEM will be affected with some of its businesses. First we sit at the moment on quite a large cash position which is either frozen on WSE or stuck in our LL account or locked in other banks. No way to get it out or even realize some minor interests anymore. As we speak of roughly 1 million $L this may affect our earnings (compare with our financial report).
More worrying is the actual situation in SL bank environment. You just have to read the forums to understand that the situation can only be described as chaotic and helpless. We wouldn’t be surprised to see different banks vanish after 22nd January and probably even some of the stock exchanges. We don’t hope this of course but have to consider this possibility in our calculations. Right now we are heavily invested in Capex where we held major positions in YEP, MECH, WPM and ITA. These positions aren’t too much bank related except WPM. ITA belongs to another risk category.
Listening to the announcement of today from WSE - https://www.wselive.com/research/announcement_detail/3319 - we believe that WSE developed a convenient solution for the banking problem which will bring the world stock exchange to new heights. If this happens LEM is nicely positioned with its portfolio.
Real estate:
=======
Real estate is our pain in the neck, at least it looks like. Not surprisingly as Lemurs are artists in life adaption to the habitat of Madagascar but not necessarily in gifting the world with exploding population growth on all continents. LEM doesn’t refuse growth but sees more vertical growth potential among our existing product chains. Even our support for sustainable development with LEM foundation on Etopia Island must be seen that way.
After quite a bit of consideration and analyzing the situation LEM decided not to go directly into real estate business in SL as it is not our core business. Nevertheless, we are persuaded that real estate represents an interesting business opportunity in SL and many successful companies listed on WSE show us that this is true, eg. DDE, ETC, HOT, LNL or SIM. LEM is holding important participations in those companies and will not rethink its position as long as the ROI is as high as it was till now.
However, we will do real estate but in a different way. LEM created a co-operation with Saya Sakai Inc. a company we know since a longtime with which we will realize real estate projects (Trebuchet Sakai Estate Inc). Saya Sakai Inc. is doing the marketing and management whereas LEM is financial partner. Saya Sakai Inc has more than 1 SL year experience with product design and real estate management. TS Estate purchased today a first SIM on mainland and will further develop this business Gomphus (137,110,251).
Board:
====
LEM will change its board to be more coherent to its growth and development strategy. As soon as WSE 4.0 is in place we will hold a shareholder meeting where we also will nominate the new board in accordance with new constitution of WSE 4.0.
IM me if you have any question or send me an e-mail casper.trebuchet@gmail.com
Greetz and happy waiting
Casper Trebuchet
LEM, CEO
House of derivatives (LFB, LWI, LHH)
http://lemurinvest.blogspot.com
We basically support the new ruling from LL also applied in a not understandable way and think that this will not only help to reduce fraud and thefts inside SL but also to reinforce SL economy in the mid and long run.
To diverse our businesses LEM started a co-operation with a SL-estate company in order to realize real estate projects where we see a lot of growth potential.
All these events will influence the profitability of our company negatively during January. On the other hand we will create an even more stable fundament which will allow future growth for LEM.
As soon as WSE 4.0 is operational we will hold a shareholder meeting and elect a new board in accordance with the new constitution of WSE.
New bank ruling/WSE trading halt:
================================
2008 really started hectic but LEM thinks only for the good. The trading halt at WSE of 30 days was a major event for us and we wrote already about the impacts this has on our activities. They are important but can be seen as an investment in the future development of something new – the first worldwide cyber stock exchange market! LEM thinks that this investment risk is worth to be taken.
The new banking policy of LL is aiming in the right direction in the mid and long term. However, LEM will be affected with some of its businesses. First we sit at the moment on quite a large cash position which is either frozen on WSE or stuck in our LL account or locked in other banks. No way to get it out or even realize some minor interests anymore. As we speak of roughly 1 million $L this may affect our earnings (compare with our financial report).
More worrying is the actual situation in SL bank environment. You just have to read the forums to understand that the situation can only be described as chaotic and helpless. We wouldn’t be surprised to see different banks vanish after 22nd January and probably even some of the stock exchanges. We don’t hope this of course but have to consider this possibility in our calculations. Right now we are heavily invested in Capex where we held major positions in YEP, MECH, WPM and ITA. These positions aren’t too much bank related except WPM. ITA belongs to another risk category.
Listening to the announcement of today from WSE - https://www.wselive.com/research/announcement_detail/3319 - we believe that WSE developed a convenient solution for the banking problem which will bring the world stock exchange to new heights. If this happens LEM is nicely positioned with its portfolio.
Real estate:
=======
Real estate is our pain in the neck, at least it looks like. Not surprisingly as Lemurs are artists in life adaption to the habitat of Madagascar but not necessarily in gifting the world with exploding population growth on all continents. LEM doesn’t refuse growth but sees more vertical growth potential among our existing product chains. Even our support for sustainable development with LEM foundation on Etopia Island must be seen that way.
After quite a bit of consideration and analyzing the situation LEM decided not to go directly into real estate business in SL as it is not our core business. Nevertheless, we are persuaded that real estate represents an interesting business opportunity in SL and many successful companies listed on WSE show us that this is true, eg. DDE, ETC, HOT, LNL or SIM. LEM is holding important participations in those companies and will not rethink its position as long as the ROI is as high as it was till now.
However, we will do real estate but in a different way. LEM created a co-operation with Saya Sakai Inc. a company we know since a longtime with which we will realize real estate projects (Trebuchet Sakai Estate Inc). Saya Sakai Inc. is doing the marketing and management whereas LEM is financial partner. Saya Sakai Inc has more than 1 SL year experience with product design and real estate management. TS Estate purchased today a first SIM on mainland and will further develop this business Gomphus (137,110,251).
Board:
====
LEM will change its board to be more coherent to its growth and development strategy. As soon as WSE 4.0 is in place we will hold a shareholder meeting where we also will nominate the new board in accordance with new constitution of WSE 4.0.
IM me if you have any question or send me an e-mail casper.trebuchet@gmail.com
Greetz and happy waiting
Casper Trebuchet
LEM, CEO
House of derivatives (LFB, LWI, LHH)
http://lemurinvest.blogspot.com
Friday, January 4, 2008
WSE - update - trading halt and consequences
We all saw that WSE halted trading today till WSE 4.0 system is in place which should occur within the next 30 days.
These 30 days are a long time. However, LEM trusts that we will get in exchange a new multifunctional trading platform which opens new markets and will bring the market place to a new exceptional level. We hope that WSE 4.0 will be coupled with a straight forward oriented communication politicy which outlines the new strategy and explain about the next steps which will be taken.
The trading halt of WSE has some impacts on LEM and some of the derivatives which we would like to outline to you.
LEM: Trading is integrated part of our activities and we have 5 million $L in assets on WSE- Logically our earnings will be hurt also as other companies may rethink their dividend strategy. On the positive part, however, we think that WSE will come back on its premises and pay a dividend in February for both HCL and HCB. In consequence there is a risk that our monthly dividend will be lower than 0.045 $L/share as it was in the last 6 months but will resume than again once WSE 4.0 will be in place. Our NTA is still standing at 3.8 $L/share which makes our shares undervalued with latest prices of 1.6 $L/share. We will use the trading halt to explore new investment possibilities (latest share price for LEM = 1.62 $L/share)
LWI. A company resolution was running which had a deadline scheduled for 7th January 08. Before trading halt 100% of the votes went for option a) – the prolongation of LWI (see last note on our blog about LWI). Also reflecting only 3% of all possible votes we will go for this option as soon as WSE is opening again. LEM thinks that we can defend this position as the resolution run already for more than 10 days which left enough time for all investors to vote, also for those which were in holidays over Christmas and New Year. In conclusion LWI gets a prolongation till 18th July 2008 and we will request a SPO for max. 500’000 shares at an initial price of 1 $L from WSE. We are very positive about the future development of LWI and its underlying shares. (latest share price for LWI= 1.71 $L/share)
LFB: Not really affected. However, it would if HCL pays a decent dividend in February which would have some positive impacts on the basket (latest price for LFB = 8.63 $L/share
LHH: The same can be said about LHH. This high score derivative will surely profit from a rebound of WSE and HCL. However, you also have to note that it only runs till 15th March. If HCL would climb up to new heights LHH would too, to be seen. LHH was latest traded at 3.44. Buy back is set at 3.67 $L/share
LEM hopes that these information are useful for you. Please feel free to contact us if you have questions, by IM or by e-mail: casper.trebuchet@gmail.com
Greetz and happy waiting
Casper Trebuchet
LEM, CEO
House of derivatives (LFB, LWI, LHH)
http://lemurinvest.blogspot.com
These 30 days are a long time. However, LEM trusts that we will get in exchange a new multifunctional trading platform which opens new markets and will bring the market place to a new exceptional level. We hope that WSE 4.0 will be coupled with a straight forward oriented communication politicy which outlines the new strategy and explain about the next steps which will be taken.
The trading halt of WSE has some impacts on LEM and some of the derivatives which we would like to outline to you.
LEM: Trading is integrated part of our activities and we have 5 million $L in assets on WSE- Logically our earnings will be hurt also as other companies may rethink their dividend strategy. On the positive part, however, we think that WSE will come back on its premises and pay a dividend in February for both HCL and HCB. In consequence there is a risk that our monthly dividend will be lower than 0.045 $L/share as it was in the last 6 months but will resume than again once WSE 4.0 will be in place. Our NTA is still standing at 3.8 $L/share which makes our shares undervalued with latest prices of 1.6 $L/share. We will use the trading halt to explore new investment possibilities (latest share price for LEM = 1.62 $L/share)
LWI. A company resolution was running which had a deadline scheduled for 7th January 08. Before trading halt 100% of the votes went for option a) – the prolongation of LWI (see last note on our blog about LWI). Also reflecting only 3% of all possible votes we will go for this option as soon as WSE is opening again. LEM thinks that we can defend this position as the resolution run already for more than 10 days which left enough time for all investors to vote, also for those which were in holidays over Christmas and New Year. In conclusion LWI gets a prolongation till 18th July 2008 and we will request a SPO for max. 500’000 shares at an initial price of 1 $L from WSE. We are very positive about the future development of LWI and its underlying shares. (latest share price for LWI= 1.71 $L/share)
LFB: Not really affected. However, it would if HCL pays a decent dividend in February which would have some positive impacts on the basket (latest price for LFB = 8.63 $L/share
LHH: The same can be said about LHH. This high score derivative will surely profit from a rebound of WSE and HCL. However, you also have to note that it only runs till 15th March. If HCL would climb up to new heights LHH would too, to be seen. LHH was latest traded at 3.44. Buy back is set at 3.67 $L/share
LEM hopes that these information are useful for you. Please feel free to contact us if you have questions, by IM or by e-mail: casper.trebuchet@gmail.com
Greetz and happy waiting
Casper Trebuchet
LEM, CEO
House of derivatives (LFB, LWI, LHH)
http://lemurinvest.blogspot.com
Wednesday, January 2, 2008
LWI: Prolongation and update
Dear Investors
LWI is a derivative which participates on the increase of an index composed of 10 major shares at WSE.
The derivative will expire on 18th January 2008. At actual index rates the reference index of the product is still in the minus (812.48, today, 24th December 2007) which means that the actual investors will only get 0.95 $L back per share.
However, we all know how volatile the markets are and awesome opportunities are likely to come with WSE 4.0 in mid-Janaury which will bring in new customers from RL but also economy in SL is recovering if we look at SL market data. The index still can jump till that date.
LWI is a very handy way to participate on the increase of shares of listed companies without being forced to spend your time to follow share prices etc. You even don't have to worry about the dividends as they are automatically included in the index calculation. A special thank you is given to Brodsky and his www.slquotes.com system;-)
In fact the index looks right now much worse as it really is. HCL is important to watch, as they only pay dividends tri-monthly and didn't last time which is harming the share. However, we see this is likely to change in 2008 with increased volums and the new opportunities! DDE, HOT and LEM are off SPO and have to find a new evaluation level. ETC is planning to expand and will come up with a SPO. RDX we see potential, either over her growing real estate empire or her RL committments. LLL is a steady value and outperformed in the index (60% win). HUI is also steady, ALL continues to improve and LGO is at the moment under observation. Probably we will change this value with something which is not scripting focused. CAR, PPL, APZ are possible candidates.
Considering overall market situation we believe that LWI will grow significantly during the next 6 months. If it grows you can participate with 95% and even >100% on the increase (dividends included). That is way we think LWI is an interesting product. Calculation details are given in our prospectus.
What we suggest is the following:
(a) Expand end spot date from 18th January 2008 to 18th July 2008 => vote YES
(b) Close LWI and pay back investors money. For actual index 812.43 this value will be 0.95 $L/share => vote NO!
If you vote for (a) we will WSE ask to approve a SPO on 18th January. Share price 1 $L/share. Maximum outstanding shares 500'000 shares.
IF you have questions dont hestitate to IM me or send me an e-mail..casper.trebuchet@gmail.com
Greetz
Casper Trebuchet
House of derivatives (LFB, LWI, LHH)
http://lemurinvest.blogspot.com
LWI is a derivative which participates on the increase of an index composed of 10 major shares at WSE.
The derivative will expire on 18th January 2008. At actual index rates the reference index of the product is still in the minus (812.48, today, 24th December 2007) which means that the actual investors will only get 0.95 $L back per share.
However, we all know how volatile the markets are and awesome opportunities are likely to come with WSE 4.0 in mid-Janaury which will bring in new customers from RL but also economy in SL is recovering if we look at SL market data. The index still can jump till that date.
LWI is a very handy way to participate on the increase of shares of listed companies without being forced to spend your time to follow share prices etc. You even don't have to worry about the dividends as they are automatically included in the index calculation. A special thank you is given to Brodsky and his www.slquotes.com system;-)
In fact the index looks right now much worse as it really is. HCL is important to watch, as they only pay dividends tri-monthly and didn't last time which is harming the share. However, we see this is likely to change in 2008 with increased volums and the new opportunities! DDE, HOT and LEM are off SPO and have to find a new evaluation level. ETC is planning to expand and will come up with a SPO. RDX we see potential, either over her growing real estate empire or her RL committments. LLL is a steady value and outperformed in the index (60% win). HUI is also steady, ALL continues to improve and LGO is at the moment under observation. Probably we will change this value with something which is not scripting focused. CAR, PPL, APZ are possible candidates.
Considering overall market situation we believe that LWI will grow significantly during the next 6 months. If it grows you can participate with 95% and even >100% on the increase (dividends included). That is way we think LWI is an interesting product. Calculation details are given in our prospectus.
What we suggest is the following:
(a) Expand end spot date from 18th January 2008 to 18th July 2008 => vote YES
(b) Close LWI and pay back investors money. For actual index 812.43 this value will be 0.95 $L/share => vote NO!
If you vote for (a) we will WSE ask to approve a SPO on 18th January. Share price 1 $L/share. Maximum outstanding shares 500'000 shares.
IF you have questions dont hestitate to IM me or send me an e-mail..casper.trebuchet@gmail.com
Greetz
Casper Trebuchet
House of derivatives (LFB, LWI, LHH)
http://lemurinvest.blogspot.com
Tuesday, January 1, 2008
LEM: Business report (December 08)
Summary
=================================================================================
NAV rose slightly from 3.44 to 3.82 during December 2008 mainly driven due to ending SPO and increase in some positions in our portfolio.
Net profitability of equity after dividend was down to 5.89% /month (10.75%)
Dividend is 0.045 $L /share/month plus bonus of 0.015 $L/share to honor support of investors during 2007
Ending SPO was successful and brought us more of 300’000 $L in cash. We used it to increase our cash position. This cash position will be used to finance new investment projects within SL.
Trading activities were reduced but ended with a win of 86’400 $L. There were any losses.
LEM will continue to develop new financial derivatives expand our financial services for third parties and intense our activities to bring RL companies into SL.
Results for December (November)
================================================================================
Income ($L):
------------
Financial products : 181’399 (280’581)
Others : 19’439 (15’825)
TOTAL : 200’838 (296'406)
Expenses ($L):
--------------
Financial Products : 84’154 (101’500)
Donation : 0 (0)
Tier : 6’000 (6'000)
Wages : 10’000 (10'000)
TOTAL : 100’154 (117’500)
Profit ($L) : 100’684 (178’906)
Asset ($L)
----------
WSE : 4’741’752 (4’571’356)
SLCX : 1’015’474 (848’463)
DSE : 56’230 (62’105)
ISE : 21’740 (27’986)
Land : 6’000 (6’000)
Loan : 0 (0)
Cash : 768’825 (251’053)
Investment : 15’000 (14'000)
Total : 6’651’021 (5’806’963)
Liabilities ($L)
----------------
Loan : 0 (0)
Dividend : 114’895 (84'154)
Total foreign capital : 114’895 (84’154)
Constitutional capital LEM: 1’710’756 (1’663’641)
Constitutional capital LFB: 462’540 (464’480)
Constitutional capital LWI: 130'026 (130’026)
Constitutional capital LHH: 1’572’705 (1'671'590)
LEM Future Fund : 520’000 (518'000)
Reserves : 2’041’415 (1’094'166)
Profit : 100’684 (178’906)
Total equity : 6’536’126 (5’722’809)
Total liabilities: 6’651’021 (5’806’963)
Monthly dividend/share : 0.045 $L /month + bonus of 0.015 $L/share
NAV 3.82 (3.44)
Notes:
========================================================================
(1) General: Latest rumors tell us that WSE 4.o will probably become operational this month. A marketing campaign may follow in RL to produce awareness among non- SL-users. WSE outlined in their latest announcement that traffic may reach 10 million $L daily. We are less optimistic but even if only part of this will come true we will see moving this stock exchange to new evaluation levels which will also positively influence our portfolio.
(2) Consultancy work was still down this month. This is something we want to increase again in 2008. +
(3) Trading brought 86’400 $L profit. We expect that this value will increase in relation to the introduction of WSE 4.0
(4) LEM keeps an important participation of roughly 5% at HCL. Part of this investment is related to risk management because of our derivative LHH which is a high score product on HCL shares. However, we see these investments as strategical as we believe in the future of WSE.
(5) LFB: The index is still on the down path driven by weighted calculation method (compare with prospectus). At actual prices of 8.62 $L LFB has a profitability of >50% p.a. As already outlined at different times before, only a small increase in HCL and RDX is needed to bring LFB up and then 7% dividend/month would be applicable.
(4) The derivative LWI:WSE will reach its end on 18th January 2008. At the moment a company resolution is running which will end on 7th January 2008. We ask to expand end spot date to 18th July 2008 and to lance a SPO where we want to create a maximum of 500’000 shares. SPO share price will be 1 $L/share. Till today it looks as the resolution will pass. Values for LWI can be followed in real time on our blog http://lemurinvest.blogspot.com
(5) LHH:WSE. No changes. Buy back value is still 3.67 $L/share.
(6) LEM Foundation. We will further invest in Etopia Island to support their sustainable efforts. A new SIM was purchased and ETC will go through a SPO in January/February. LEM will support this SPO financially. This investment reflects our commitment to sustainable investment.
7) LEM Future Fund (LFF): LFF has a portfolio of over 520’000 $L. LFF is a closed fund. 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 are published weekly on our blog. This week a single part was at 1.16 $L which is an increase of 16% since its creation.
Net profitability of equity after dividend is 5.89% /month
Dividend is 0.045 $L/share/month + bonus of 0.015 $L/share
Next report:
===================================================================================
Next report will be published on February 2, 2008. Updated values for NTA, 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
Analyst, WSE
House of derivatives (LFB, LWI, LHH, LEM IPO Booster as not yet approved IPO at WSE)
http://lemurinvest.blogspot.com
=================================================================================
NAV rose slightly from 3.44 to 3.82 during December 2008 mainly driven due to ending SPO and increase in some positions in our portfolio.
Net profitability of equity after dividend was down to 5.89% /month (10.75%)
Dividend is 0.045 $L /share/month plus bonus of 0.015 $L/share to honor support of investors during 2007
Ending SPO was successful and brought us more of 300’000 $L in cash. We used it to increase our cash position. This cash position will be used to finance new investment projects within SL.
Trading activities were reduced but ended with a win of 86’400 $L. There were any losses.
LEM will continue to develop new financial derivatives expand our financial services for third parties and intense our activities to bring RL companies into SL.
Results for December (November)
================================================================================
Income ($L):
------------
Financial products : 181’399 (280’581)
Others : 19’439 (15’825)
TOTAL : 200’838 (296'406)
Expenses ($L):
--------------
Financial Products : 84’154 (101’500)
Donation : 0 (0)
Tier : 6’000 (6'000)
Wages : 10’000 (10'000)
TOTAL : 100’154 (117’500)
Profit ($L) : 100’684 (178’906)
Asset ($L)
----------
WSE : 4’741’752 (4’571’356)
SLCX : 1’015’474 (848’463)
DSE : 56’230 (62’105)
ISE : 21’740 (27’986)
Land : 6’000 (6’000)
Loan : 0 (0)
Cash : 768’825 (251’053)
Investment : 15’000 (14'000)
Total : 6’651’021 (5’806’963)
Liabilities ($L)
----------------
Loan : 0 (0)
Dividend : 114’895 (84'154)
Total foreign capital : 114’895 (84’154)
Constitutional capital LEM: 1’710’756 (1’663’641)
Constitutional capital LFB: 462’540 (464’480)
Constitutional capital LWI: 130'026 (130’026)
Constitutional capital LHH: 1’572’705 (1'671'590)
LEM Future Fund : 520’000 (518'000)
Reserves : 2’041’415 (1’094'166)
Profit : 100’684 (178’906)
Total equity : 6’536’126 (5’722’809)
Total liabilities: 6’651’021 (5’806’963)
Monthly dividend/share : 0.045 $L /month + bonus of 0.015 $L/share
NAV 3.82 (3.44)
Notes:
========================================================================
(1) General: Latest rumors tell us that WSE 4.o will probably become operational this month. A marketing campaign may follow in RL to produce awareness among non- SL-users. WSE outlined in their latest announcement that traffic may reach 10 million $L daily. We are less optimistic but even if only part of this will come true we will see moving this stock exchange to new evaluation levels which will also positively influence our portfolio.
(2) Consultancy work was still down this month. This is something we want to increase again in 2008. +
(3) Trading brought 86’400 $L profit. We expect that this value will increase in relation to the introduction of WSE 4.0
(4) LEM keeps an important participation of roughly 5% at HCL. Part of this investment is related to risk management because of our derivative LHH which is a high score product on HCL shares. However, we see these investments as strategical as we believe in the future of WSE.
(5) LFB: The index is still on the down path driven by weighted calculation method (compare with prospectus). At actual prices of 8.62 $L LFB has a profitability of >50% p.a. As already outlined at different times before, only a small increase in HCL and RDX is needed to bring LFB up and then 7% dividend/month would be applicable.
(4) The derivative LWI:WSE will reach its end on 18th January 2008. At the moment a company resolution is running which will end on 7th January 2008. We ask to expand end spot date to 18th July 2008 and to lance a SPO where we want to create a maximum of 500’000 shares. SPO share price will be 1 $L/share. Till today it looks as the resolution will pass. Values for LWI can be followed in real time on our blog http://lemurinvest.blogspot.com
(5) LHH:WSE. No changes. Buy back value is still 3.67 $L/share.
(6) LEM Foundation. We will further invest in Etopia Island to support their sustainable efforts. A new SIM was purchased and ETC will go through a SPO in January/February. LEM will support this SPO financially. This investment reflects our commitment to sustainable investment.
7) LEM Future Fund (LFF): LFF has a portfolio of over 520’000 $L. LFF is a closed fund. 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 are published weekly on our blog. This week a single part was at 1.16 $L which is an increase of 16% since its creation.
Net profitability of equity after dividend is 5.89% /month
Dividend is 0.045 $L/share/month + bonus of 0.015 $L/share
Next report:
===================================================================================
Next report will be published on February 2, 2008. Updated values for NTA, 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
Analyst, WSE
House of derivatives (LFB, LWI, LHH, LEM IPO Booster as not yet approved IPO at WSE)
http://lemurinvest.blogspot.com
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