Bye Bye LEM

Hello folks, as announced earlier we have closed this chapter for us at CAPX.

There are different reasons why he have done so. It starts with the fact that we couldn't realize our derivate products. We still believe that the specific environment here at the virtual stock exchange would be perfect to lance some products. It would bring some fun and innovation to the market and would also allow to pepp up trading activities. Anyhow, it wasn't possible and there are surely also reasons why it didn't happen but we don't want to comment about this..

The other problem I have is, that my RL really start to become a bit complicate and I have to focus on other things. As I'm daily hanging on the computer in one way or another, I always could handle my limited activities at CAPX somehow. However, the actual situation simply doesn't allow that I do that any longer. I cannot follow the forums anymore, keep up to be informed about the companies and related avatars and alter ego's, some of you have so many.... lol.... writing financial reports, communicate with shareholders, handle dramas etc. It takes too much time and energy from me, as I'm completely in other things right now in RL. If I no longer do all those things I will lose important information and will take bad decisions in the end, what makes little sense. This CAPX should be fun or hobby but surely not stress.

As I also, since I rejoined SL after a certain pause, hardly participated in social networking in SL, with some few exceptions, such also contributed to my decision. In being active at CAPX and running a virtual listed company you don't have to be active in SL of course, but it helps to do so.

In others words I have to go off of this for a while and take a pause. It's already the third time that I have a virtual company here in SL, first at WSE then at ISE and finally here at CAPX. If I compare with the former companies I had, I have to agree that this last experience at CAPX was the best. It easily can be showed, also if you look at our liquidation figures. It is rather amazing that assets of 4 mio $L could be liquidated for a decent value and that in even not one month. Such wasn't possible at other markets before. It shows that CAPX has found a good reasoning and level of achievement which is rather promising for the future.

In fact we started with an IPO value of 0.5 $L 18th months ago and now could liquidate the shares for 1.93 $L per shares. If we add the dividends which we have paid before, we are even at 2.69 $L (IPO value + acrued dividend + liquidation dvidend). Such is not a bad return and in fact rather amazing and not what I have expected before.

It was only possible to achieve such results with the contribution of everybody at CAPX, stock market and company owners, shareholders but also active avatars in SL.

So we - Lemmy and me, Thekla we have to leave behind us - are trying to go not beaten paths and risk to take a off time from SL for a certain time. But we will keep an eye on what is ongoing, we never know what comes next.... ;-)

Greetz
Casper Trebuchet
former president and CEO of LEM Invest

Financial report LEM: JaN-FEB 2013 (liquidation)

LEM ended the first two months of 2013 with a net profit of 156'000 (217’000) $L. The overall value of our portfolio (NAV),evaluated at last market prices is actually at 2.05 (0.70) $L/share. Dividend will be distributed on 1st March 2013.

Details are given under :
https://docs.google.com/spreadsheet/ccc?key=0AmsUoA28lTawdHFZekc2X3pneXhqM1R5V3VJUDRaSGc#gid=8

Shareholder’s equity: 4'188'000*) (1’410’000) $L (*) valued at market prices
Net Profit: 156'000 (217'000) $L
Dividend: 400'000 (150’000) $L
2’000’000 shares, nominative value: 0.5 $L/share
NAV: 2.05 (0.70) $L

----------------------- Figures in ( ) of last month

Liquidation progresses as scheduled. A first liquidation dividend of 400'000 $L will be distributed to the shareholders on 1st March 2013.

In order to liquidate LEM in the best of all ways, we will start to do auctions next week, so be prepared. All received funds as well as still inflowing other revenues minus some basic expenses (office) will be distributed as dividends (100%) till the company is fully liquidated.

I will place and maintain a purchase order for all those who already want to sell their LEM shares. Right now that price is set at 1.5 $L/share. It will be adjusted to the actual remaining value of LEM in a continuouse way.

Happy trading to all of you at CAPX....

Greetz

Casper Trebuchet
LEM, chairman

http://lemurinvest.blogspot.com