Lemur Invest (LEM)

Quartely financial report for LEM:CAPX: 4Q2011

2012-01-20T14:26:00.001+01:00

LEM decided to change its frequency of financial reporting. Inaccordance with the TOS of CAPX we will publish only quarterly financialreports in the future. The first such report for 4Q11 is given in

https://docs.google.com/spreadsheet/ccc?key=0AmsUoA28lTawdHFZekc2X3pneXhqM1R5V3VJUDRaSGc&hl=en_GB&pli=1#gid=8

Those reports will cover the same information as before,however, be more detailed. Such will not hinder us to report about importantevents which might influence the share price of LEM in between when we have to.

The advantage for us is in less administrative work whichcan be used in a more meaningful way and for the user probably in a betterreadability.

Dividends will be distributed at the end of each quarteronly and always a couple of days after the financial report has been published.That doesn’t hinder us to distribute intermediary dividends when we have to.

For the records, the next financial report for 1Q12 will bepublished on 28^th March 2012.

If you have questions then please don’t hesitate to contactus.

Greetz

Casper Trebuchet

LEM Invest Corp, Chairman

http://www.lemurinvest.blogspot.com

Financial report LEM:CAPX, December 2011

2011-12-26T06:13:00.000+01:00

LEM ended December 2011 with a net profit of 69’360 (33'700 $L). The overall value of our portfolio (NAV),evaluated at purchase prices, remained stable at 0.57 $L/share. Dividend will be distributed on 2nd January 2012.

The detailed financial report is given here.

Shareholder’s equity: 1'066'000 (1068’515) $L
Net Profit: 69’360 (33'700) $L
Dividend: 17’340 (12'906) $L
1’500’000 shares, nominative value: 0.5 $L
NAV: 0.57 (0.55) $L
----------------------- Figures in ( ) of last month

LEM continued to build up its portfolio. Diversification reached a level we feel comfortable with and what is in line with our business model.

We continued to increase our cash position during the last month. As said before, we are open to study upcoming projects of third parties and evaluate whether and how we could support those and bring them to success.

Our revenues experienced a remarkable increase through December. However such was related to extraordinary consultancy work in the field of business strategy management which came to an end last month. That extra income was mainly used to reduce the loan of Casper Trebuchet. We hope to see this consultancy business growing but if we say extraordinary revenu we mean extraordinary revenu … as coincidence we realized it over December and thus can be considered as a Christmas gift....

Dividend will be distributed on 2nd January 2012.

Thank you again for your confidence….If you have further questions, don’t hesitate to contact us.

Happy, healthy, successful and pleasant New Year to all of you and happy trading at CAPX....

Greetz
Casper Trebuchet
http://lemurinvest.blogspot.com

Pre-announcement: Financial report for December 2011

2011-12-19T21:12:00.004+01:00

Our financial report (LEM:CAPX) for December 2011 will already appear on December 26, 2011. Dividends will be distributed on January 2, 2012. The reason is the upcoming holiday period...

We wish you already Merry Christmas ... our mascot Lemmy already slipped in the Saint Nicholas outfit ... will he create nightmares as in Roman mythology or just try to be a jolly good fellow ....

http://www.youtube.com/watch?v=SfHWs0SAJaI&feature=related

If you have wishes you still can send them to him

lemmy0001@gmail.com

but please, he is a most cincere creature...

Greetz
Casper Trebuchet
LEM, Chairman
http://lemurinvest.blogspot.com

BOD changes

2011-12-10T12:00:00.004+01:00

As one of the members is no longer active in SL we had to change the composition of our board of directors (BOD).

We are happy to welcome our most important shareholder - LeaPatrizia Zemach aka DMWA Reanimator- in the BOD of LEM with immediate effect.

It will be a pleasure to work together with you Lea and we are looking forward to future successful development of this company.

For the BOD
Casper Trebuchet, chairman

Financial report: November 2011

2011-11-29T14:44:00.009+01:00

LEM ended November 2011 with a net profit of 33'700 $L. The overall value of our portfolio (NAV),evaluated at purchase prices, remained stable at 0.55 $L/share. However, please keep in mind that LEM changed its assets evaluating system. The titles in the portfolio are evaluated by purchase prices instead of market prices. Dividend will be distributed on 1st December 2011.

The detailed financial report is given here.

Shareholder’s equity: 1'068'515 (827'582) $L
Net Profit: 33'700 (33'842) $L
Dividend: 12’096 (12'209) $L
1’500’000 shares, nominative value: 0.5 $L
NAV: 0.55 (0.53) $L

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

LEM continued to build up and diverse its portfolio. The most important investment for us was in BOTS where we bought a major participation. We believe that BOTS has a lot of development potential with different new products which still are in the pipeline.

We increased our cash position during the last month and will continue to do so unless we see other investment projects which we consider worth investing. We are always open to study upcoming projects and evaluate whether and how we could support those.

Our plans to develop derivatives have been put on ice. It looks as the whole CAPX market is resizing on a lower level and with lower liquidity. Some turmoil – I call it “drama” – caused some bigger investors to leave or they got banned as they violated the TOS of CAPX. Sometimes that reminds me to the dark times of the middle ages when both pontifex maximus from the orthodox and the catholic church knew nothing better than to excommunicate each other …lol… but we are all optimists and that is why I have put a picture of Voltaire in this article. I never understood why the government of the USA has put his famous book - Candide - on the banned book list. But ok, topic change…

We are confident hat CAPX will regain growth on a more stable basis. However, we don’t consider the situation as fructive enough to come up with derivative products. That situation may change in the future therefore we follow closely what is ongoing so that we can modify our strategy accordingly when we have to.

As we have financed the BOTS participation over a “private” shareholder loan it will be first priority to pay it back as fast as possible. We will not use a SPO to do so.
Dividend will be distributed on 1st December 2011.

Thank you again for your confidence….If you have further questions, don’t hesitate to contact us.

Greetz
Cas
http://lemurinvest.blogspot.com

BOTS, strategic alliance with LEM

2011-11-05T04:51:00.004+01:00

LEM:CAPX is pleased to announce a strategic partnership with BOTS:CAPX. Such alliance will diversify our portfolio and make it more active for the benefits of its shareholders. BOTS is a technology company with amazing products, designed to make SL a more pleasant environment for virtual business owners but also for avatars in general.

The business model of BOTS persuaded LEM. As long as SL is developping as a virtual environment also the bots business will grow. Personally, we wait to the moment to have a bot ourselves for acting at SLCAPEX...lol....that was a joke.

Seriously, the financial figures are sound, a decent dividend is paid but more important, there is strong personal commitment of the owners of BOTS for future development. The existing products have still growth potential but new products are in the pipeline as well. All those facts together are convincing enough for us to build up such a partnership.

BOTS just has paid a dividend (0,02 $L/share) for October 2011 and is trading right now at 1.15$L.

There will be a shareholder meeting on 6th November 2011, were different information about the recent developement and future prospects will be given. Included in this is a preview on new products which are in the pipeline. Don't miss this event. Further information can be found on the company announcement page at CAPEX.

LEM will finance the partnership with a long term loan at interesting conditions. it will appear in the financial report for November 2011.

Greetz
Casper Trebuchet

Financial report October 2011

2011-10-28T13:22:00.009+02:00

LEM ended October 2011 with a net profit of 33'842 $L which represents a significative increase since last month. The overall value of our portfolio (NAV),evaluated at market prices, remained stable at 0.65 $L/share. However, LEM changed its assets evaluating system. The titles in the portfolio will only be evaluated by purchase prices in the future and we will apply depreciations on those. Such should permit us to present much more balanced and meaningful financial reports in the future.

The detailed financial report is given here.
https://docs.google.com/spreadsheet/ccc?key=0AmsUoA28lTawdHFZekc2X3pneXhqM1R5V3VJUDRaSGc&hl=en_GB&pli=1#gid=1

Shareholder’s equity: 827'582 (1'031'000) $L
Net Profit: 33'842 (27'049) $L
Dividend: 12'209 (9'424) $L
1’500’000 shares, nominative value: 0.5 $L
EPS: 0.0144 (0.0118) $L
NAV: 0.53 (0.65) $L

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

LEM continued to extend its portfolio during October in order to diversify and to create a basis for our derivative products we are working on. Watch out to see any activities from us in regard of such products.

LEM continued to build up and diverse its portfolio. The most important participation for us is BOTS which has quite a lot of development potential. Another investment is Marix Group (MRG). It is only small right now but nevertheless, we built up our tents at one of their spots during last month. That place will become our new home for the future. Thank you Marishka....Hopefully there is a place around where we can buy some pindakaas...;-)

About our new method to evaluate our portfolio. We all know that the virtual stock exchange market at CAPX is rather volatile and has limited liquidity. Such is a major problem if you compare it with the automated portfolio evaluation what CAPX is applying. Those generated values are far too optmisitic. To explain you this just try to sell 10'000 shares in any title and you will see what I mean, you simply would crash the prices. And such can happen easily, even if somebody is making a false trade. CAPX is using circuit breakers to counter-fight such unnatural fluctations, but still those don't overcome the general problem.

After our opinion is meaningless to use the CAPX portfolio evaluation to measure the value of our CAPX titles we own. Much more realistic is an approach where we evaluate the titles with purchase prices and then use depreciations to put the portfolio into the right picture. If we then publish at the end of the month the number of titles we own, we can show transparency wihtout showing too much... But don't understand us wrong. THis strategy change in communication is not that we are per se pessimistic about the market it is just a way for us to become more coherent in what we are doing.

Moreover, each investor can easily estimate how much cash we could generate when we would have to sell our titles in short time and what liabilities we have. They then get quite a clear picture what the real value of LEM might be. Just as a by note, we stick normally to our premisses as we liquidated LEM already twice (in 2008 at WSE and in 2009 at ISE) and such rather successfully, at least nobody was throwing things at us... I don't know why I'm mentioning this, possibly because of the latest development at CAPX about VSIF and DDE. It's always sad to see somebody leaving and when it is only to step back from SL. All the best Del, it was always a pleasure.

Dividend will be distributed on 31th October 2011.

Thank you again for your confidence….If you have further questions, don’t hesitate to contact us.

Greetz
Cas
http://lemurinvest.blogspot.com

Changes in financial reporting

2011-10-26T08:34:00.008+02:00

LEM decided to be modify the evaluation policy of its assets in the balance sheet. From this period on we will present our results with purchase prices instead of market prices but consider depreciations.

There is a whole discussion ongoing at CAPX about reporting and evaluation of listed companies. Independently of that we have our own needs. As liquidity is not always given in the titles we have in our portfolio it makes little sense to present the assets with marketprices. They wouldn't be relevent if we suddenly would be forced to sell our shares as share prices would dump. Also price fluctations can be very important which are complicating interpretation.

A system which only considers purchase prices is much more meaningful, especially if coupled with depreciations. That is nothing new and is normally applied in a similar way in RL. And that is exactly what we will do for LEM. In the report we will list the titles we have in our portfolio and their values expressed as purchase prices. The balance sheet becomes then much more balanced and together with the depreciations the investor receives a much better impression about the financial situation of LEM.

If it would come to a liquidation, the difference between realised sell price and purchase price minus accumulated depreciations will then reflect the liquidation dividend an investor might expect to receive.

Our NAV will be smaller for next period, because of this evaluation change, however, that is just a theoretical value. In the mid- and long run, the investors will profit as the new system lead to greater transparency. The new scheme permits us to be build up a more robust base for further expansion.

The financial report for LEM for October 2011 will follow on 28th October 2011. It shall incorporate already the new portfolio evaluation method.

Greetz
Cas

Financial Report September 2011

2011-09-28T04:25:00.006+02:00

LEM stabilized its position in the market and is preparing for further steps we want to take. LEM ended its month with a net profit of 18'847 $L which represents an increase since last month. The overall value of our portfolio (NAV) increased form 0.52 $L to 0.65 $L per share. Dividend will be 0.00628 $L (0.00577) per share.

The detailed financial report is given here.
https://docs.google.com/spreadsheet/ccc?key=0AmsUoA28lTawdHFZekc2X3pneXhqM1R5V3VJUDRaSGc&hl=en_GB#gid=1

Shareholder’s equity: 1'031'000 (777’504) $L
Profit: 27'049 (17’304) $L
Dividend: 9'424 (8’652) $L
1’500’000 shares, nominative value: 0.5 $L
EPS: 0.0118 (0.0053) $L
NAV: 0.65 (0.52) $L

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

LEM used the month of September to extend its portfolio in order to diversify and to create a basis for our derivative products we are working on. However, the market is right now not yet calculable enough with new companies joining almost in a weekly basis and a high volatility. But we follow the market situation and have our radar focused on opportunities to invest.

LEM extended its stake in two listed companies during last period of reporting. There is EARN where we control now 200'000 shares and finally EVO with 100'000 shares. Both enterprises have innovative products and are on the brink to bring them on the market what should have a positive impact on their earnings.

As LEM bought those shares over the counter we had to pay transfer fees to CAPX. Also they were split between pruchaser and seller they still hamper our results as they are rather high (8'200 $L). The good side of the story is that we could get them for good prices.

During September we decided to increase our board of directors (BOD). We are happy to have win Venatrixx to join as CRO (customer relationship manager). She will support us in searching and evaluating new business opportunities and keep us motivated for further expansion... ;-) .. An important point if I read the sometimes hatred comments in the forum of the CAPX. HEY... wake up ... this is a game and should be fun ! Anger we can have in RL enough...lol

Dividend will be distributed on 30th September 2011.

We have now offices at Capel. So if we are online there is a chance to meet us there. You will be more than welcome.

Thank you again for your confidence….If you have further questions, don’t hesitate to contact us.

Greetz
Cas
http://lemurinvest.blogspot.com

The team of LEM:CAPX is expanding

2011-09-14T23:26:00.014+02:00

The management team of LEM:CAPX is expanding.

We could win Venatrixx to become our customer relationship officer (CRO)... Her battle proven professional experience in this field for more than 10 years will strenghten our position on the virtual SL-market. We welcome her in our team...

THe actual composition of our Board of directors is the following

Casper Trebuchet aka Cas, Chairman
Venatrixx aka Vena, CRO
Lemy, mascot

Our next financial report will be published on 28th September 2011...

Greetz
Cas

LEM:CAPX, chairman

LEM:CAPX considered as CAPEX LICENSED STOCK BROKER

2011-09-12T21:29:00.005+02:00

CAPX considers LEM as "CapEx Licensed Stock Broker". A headline in captial letters but which need some explanations.

First, this license will help LEM to reduce its transactions fees (0.25%) which is only to the profit of its stakeholders.

Secondly. LEM will get an entry in the Stock Borker's data base. This is important for the financial products we want to develop. In other words it will help us to create added value for our brand and help to promote our new products.

And last but not least it is a honor for LEM to be considered as such by the CAPX...8-)

However, such honor was mainy possible related to the active trading of us during September 2011 which even created market marker commissions. We first had to find out what that means. And you will understand why, as LEM is NOT and shall NOT be a trading company. If we trade it is mere by chance and because other opportunites are taking more time then needed, so we have a slight overflow in cash. This retard is mainly because the IPO went through so quickly and not 30 day as we had expected. But we work hard to overcome this „problem“... so stay tuned and let's see...

Greetz
Cas

Greek fund at CAPX - 80'000 shares sold

2011-09-07T08:42:00.005+02:00

We have to inform you that the major shareholder of LEM:CAPX - Casper Trebuchet (aka Cas aka myself ...lol) - sold 80'000 shares over the counter to one of the Greek funds today. So don't be surprised if you see a new important entry in our shareholder's list.

With that I still keeps the majority in LEM but the liquidity of LEM can increase in a meaningful way.

In the same time be informed that I will do a forward payment of 45'000 $L to LEM. That payment should be reimboursed over time and participate on the revenu of LEM. However, a small margin will be in favor of LEM, that is why both parties - shareholder and me as private "lender" will profit.

That forward payment will appear in the next financial report for September.

The money will be used to finance future projects.

Greetz
Cas
Chairman
http://lemurinvest.blogspot.com

Participation in EARN:CAPX

2011-09-05T08:28:00.010+02:00

LEM:CAPX just increased its participation in EARN:CAPX. We hold now 4% or 200'000 of the outstanding shares what makes us to the third biggest investor in this company right now.

We consider this as strategic pariticipation in a company which showed till now a steady growth and a potential for further innovations like the new Dragons & Princesses game in SL which will become operational in the fall. We expect that this new game might contribute to an even stronger growth of the ROI of EARN:CAPX.

Our investment in EARN:CAPX is a major one for us in relation to the other titles we have in our portfolio. It might be seen as an important risk factor. However, as said this is a strategic investment for us and we have other plans in mind how we will use it. It is not our intention to push this participation further as we try not to have more than 5% of the outstanding shares in a company. New earnings will be invested otherwise to diverse our portfolio and to develop new products.

The overal dividend strategy will not change. As EARN:CAPX has a high EPS (Earnings per share) this fact will also contribute to ours. As outlined in our company brochure, LEM:CAPX is objecting to have a dividend of 1% per month paid whenever possible. The surplus will go into product development.

If you have further question then please dont't heistate to contact me

Greetz
Cas

New Office at Capel

2011-09-01T20:35:00.003+02:00

LEM:CAPX has new offices in SL

LEM decided to move into own offices, as you can easily see in our side menu. During the following weeks we will put some meat on those.

So if you have time to visit in the coming weeks, please feel free to do so. We plan to give you there additional information about our projects and you also can inertract more easily with our team.

But again, please give us a couple of weeks for setting up. As I'm not often inworld and my IM get capped it is best to address me over my e-mail

casper.trebuchet@gmail.com

You are always welcome

Greetz
Cas

Dividend distributed for August 2011

2011-08-30T07:50:00.003+02:00

Dear shareholders,

a dividend of 8'652 $L has just been distributed for August 2011.

For more information I refer to our financial report which you will find in this blog.

The next financial report will follow on 30th September 2011.

Thank you and greetz
Casper Trebuchet

LEM:CAPX

LEM:CAPX, financial report August 2011

2011-08-28T13:08:00.004+02:00

Hello,
sorry, LEM had to publish our financial report for August 2011 already today because of RL issues which will come up. Anyway, it might be helpful to you as I see that the title is searching to find the right market price. The financials will surely help you to weight LEM in an appropriate way.

The figures are given here.

https://docs.google.com/spreadsheet/ccc?key=0AmsUoA28lTawdHFZekc2X3pneXhqM1R5V3VJUDRaSGc&hl=en_GB
Shareholder’s equity: 777’504 $L

Profit: 17’304 $L
Dividend: 8’652 $L
1’500’000 shares, nominative value: 0.5 $L
EPS: 00.005768 $L
NAV: 0.52 $L

We close with a profit of 17'304 $L. However, also we felicitate CAPX for its great support they don't deliver those services for free what we understand of course…;-). That is why we had an exceptional expense of 12'000 $L which hampered our profit.
This expense was counterbalanced with an exceptional consultancy revenue in SL of 8’000 $L. In the end that means for you that we can pay a dividend of 8'652 $L. We will pay it on the 30th.

As the IPO passed so quickly we are still a bit caught by that experience. We are studying right now different plans in line with what we have described in our business plan. We don’t expect major changes during September when it comes to our revenues.

The titles in our portfolio look stable as well and represent economical active companies.

A word to the trading of our shares. LEM will not trade its own shares, as we believe in free market decisions. However, even as circuit breakers at CAPX exist, we will keep an eye on the development of the title. If we think LEM is really under evaluated we will intervene, but also in the opposite situation. But such interventions should happen only rarely and we will make such steps public whenever they are necessary. The actual policy of LEM is to hold its stake of 1 mio shares. We cannot exclude that at one point we will aim to increase the free float but for that a decision of the BOD is needed. For the near future we have no such plans.
Thank you again for your confidence…. I really see old investors in the shareholder list! And not small ones.

If you have further questions, don’t hesitate to contact me. I will produce some additional expenses in form of a kind of letter box/office I will rent… but its size will be in relation to the revenue we realize …so no nightmares for you. If anyone of you has a good solution for me to suggest then don’t hesitate to tell me.

Greetz
Cas

IPO of LEM at CAPX, today at 5 PM SLT

2011-08-26T08:46:00.007+02:00

The Initial Public Offering (IPO) for Lemur Invest (LEM:CAPX) will start today, Friday, August 26, 5 PM SLT.

To recall some of the essentials for this IPO:

Total Shares To Create 1,500,000
Shares To IPO 500,000
IPO Price: L$.50 (nominative value)
IPO Days: 30
Value of IPO: L$250,000

For more information on LEM, its business model and objectives use this link:

LEM:CAPX

An intermediary financial report can be found in using the link below

Financial report of Financial report LEM:CAPX for August 2011

If you have further questions then don't hesitate to contact me. I'm not so often inworld but can easily be reached over my e-mail casper.trebuchet@gmail.com

Hoping to welcome you as new shareholders soon...

Greetz
Cas

Preliminary financial report August 2011

2011-08-21T20:40:00.005+02:00

As the IPO for LEM:CAPX will start soon, we already published a preliminary financial report for August. Revenues and expenses were expolared to full months length.

https://docs.google.com/spreadsheet/ccc?key=0AmsUoA28lTawdHFZekc2X3pneXhqM1R5V3VJUDRaSGc&hl=en_GB#gid=0

The regular one will then follow as soon as the IPO will have been accepted. If you have question then please don't hesitate to ask me

Greetz
Cas
http://lemurinvest.blogspot.com

LEM:CAPX ... IPO accepted

2011-08-20T03:49:00.002+02:00

Hello,

I have good news for you as it looks as the application of LEM was accepted by the Capital Exchange Regulatory Commission.

There is a chance that out IPO will start next Friday 26th August. Watch out as CAPX will inform about that in short time.

To make the things a bit easier LEM will publish its books for August just before the IPO starts.

Looking forward to having you as shareholders again!
Greetz
Cas

LEM - listing at the SLCAPEX?

2011-08-18T15:31:00.003+02:00

Hello Folks,

After I had a rather active phase in SL during 2007 I have gradually fallen into sleeping mode. With good reasons I have to add as I made different experiences which weren't always the best. You can check my blog here if you want to know more.

The CAPX can look back on an amazing positive development since January 2011. We all have to thank Skip for that good and continuous work. It also brought back some of my confidence into virtual financial markets which I lost when I finally delisted LEM in 2009 at the ISE. In consequence I went private with LEM and have run it on a much lower activity level until this spring.

However, the positive changes at CAPX have encouraged me to give the whole thing a new thought. But more important we reckoned some projects which have development potential. The decision to come back was then rather quickly made... back he is the Casper and his Lemurian, Lemy ...lol... As a consequence I submitted an application for an IPO to the CAPX yesterday.

Well, my basic idea has not changed. LEM will remain what it was before. An investment company looking to contribute financially or in other form to promote and develop new businesses in SL. As we have a solid portfolio in SL and a regular consulting income from RL we think that is a good start to relance LEM on CAPX.

How can I introduce me personally? There are some avatars who know me already from the times when LEM was listed at WSE and later on at ISE .. I possibly wouldn't regret to see them again among LEM's future shareholders . ;-).. and for those who don't know me yet, check my blog and don't hesitate to ask questions. I combine four years experiences in virtual financial markets, if such has really a value, where I experienced the full set of possible encounters, situations, dramas but also good stories... lol.

The ambition of LEM is to follow its growth path as we already did at WSE and ISE with success and contribute to the development of those virtual markets in a sustainable way and most important -always trying to keep a good humor.

The company we would like to IPO at the CAPX has only modest captial needs. However, in the actual environment it has growth potential due to new innovative investment projects we have in the pipeline The already existing assets are a good base for a sustainable further development of the company.

Stay tuned if you want to know how things will proceed with our IPO. And yes, if you want to support our candidature, then just go ahead, we wouldn't complain...

Greetz
Cas

ITA and PLK : A new challenge?

2011-02-24T08:04:00.014+01:00

We have been in a longer holiday from SL and virtual stock exchanges and that for different reasons, as had been outlined on different occasions in this blog.

However, it looks as LL has survived...lol.. and even found back to some modest growth of its community if we believe recent statistical data. New life also was brought into the virtual stock exchanges as the three major ones merged into one -SLCAPEX .

The market size of Slcapex is interesting, and with almost 30 listed companies of some importance. We almost get remained on old times before the SL banking crisis had started in 2007. SLcapex also will offer a currency exchange which is an interesting option and create supplementary activities.

LEM has been a major shareholder in ITA since 2007 when the company was created. With the closer of VsTex the company moved to Slcapex stock exchange recently. ITA is a so called active holding. It holds some major participations, among them as key investment one in PLK, a company which is successfully active in fashion networking and this for different virtual worlds, like SL, but also Entropia and World of Warcraft. Additionally ITA offers marketing consultancy services to SL and RL companies.

As we know ITA quite well, we accepted to take a small active part in the society as member of the board of directors. That also means that LEM is keeping an important participation in ITA. For us the concept of ITA/PLK is very interesting as it is bridging RL with SL but without conflicting with actual RL regulation. We think that such projects have a lot of future development potential.

Right now we don’t have any further plans with LEM but we will invest some time to follow the development of LL.

The probability is therefore higher that you will meet us – and with us I mean myself...;-) – inworld from time to time…. I wouldn’t mind of course.

Greetz
Cas

Happy New Year 2011

2010-12-26T12:02:00.024+01:00

Yes, I'm still around...and it's damn cold here in Switzerland, that is why I use my tail to keep my warm..

I took some holidays from SL over the last 10 months but couldn't resist to have a glimpse into the new viewer and all other changes within SL which happened during 2010. I rejoined SL just a few weeks ago.

I reckon now that my friendship list shrank almost 90% as most of those avatars have left the game. The same for my favorite landmarks...it's incredible how fast things are changing here. Just my inventory is as chaotic as I had left it..

More worrying is that LL integrated Xstreet with its shop and now even their currency exchange. Personally, I always prefer variability and competition over putting everything into the same pot if I can. The fact that LL is now a direct competitor to all small businesses and only one currency exchange is existing, is somehow alarming to me. The monopolist against all other whackos. But I don't want to give evil eyes to LL, I'm not long enough in SL again to make a substantial judgement....

Real gambling is gone, banks are gone, betting is gone, virtual stock exchanges are gone (mostly), land business is apparently in constant change on the back of the land owners ...thats seems to me like quite a big loss of activities...it's almost a miracle that SL still can keep a serious amount of active avatars as the statistical data is showing.

LL has possibly found a way to keep an average number of active avatars which generate enough return to run the place from a financial point of view. They just have to make sure that the number of joining avatars is balanced with the one leaving the grid. However, I doubt that this is a prospective business model. Unless, well Brett Linden brought up some other thoughts, also to be considered of course.

SL will possibly move more and more into direction of a 3D social networking system with limited boundaries. Innovation and the free spirit which created so much activity and dramas in the beginning of SL will slowly die then ...something tells me that I will miss those dramas..;-)..I don't say that such development is a bad thing. It's surely an advantage if they seek to integrate more RL business. And there are quite a few companies and organisations in SL using it for education and information purposes. Anyway, I don't want to become philisophical towards the end of the year.

LEM retook some “business” activities which generate a small revenu. I take this is a constellation to spend some limited time inworld as I'm curious where all those policies of LL will lead to..There are even some RL projects which have a link to SL. So that is reason enough for me to stay. If that is of interest for you then just follow this blog and stay posted.

Happy New Year 2011 to all of you...and hopefully I see you again inworld some time.

Greetz
Cas

Merry Xmas and a Happy New Year 2010

2009-12-24T18:10:00.002+01:00

Hello everybody,

it's already a longer time period since we delisted the SL-company LEM at ISE. We don't regret this decision as things really don't seem to evolve.

As long as the interfaces are not legally defined between SL and RL the overall situation of SL economy will not change, especially as virtual currency can be exchanged against RL one and vica versa.

It's a pitty as I think there is potential in an environment like SL to simulate RL patterns and or test strategies or simply in adding a new dimension to RL economy. However, some basic rules must exist to avoid annoyance to be robbed to easily, either through real scammers or just because of naivity and ignorance or arogance.

I still haven't found a solution. However, I believe that the only way to create a minimum of confidence for SL investments is to go through the bias of a financial intermediaries with RL recognition.

Anyway, LEM still exists and has some remaining virtual investment in SL, but on a much reduced level. It allows us to keep track with SL and be informed.

At the moment we are not planning to change this status in the near future. If you are curious whether something will change then stay tuned...;-)

We wish you Merry Xmas and happy New Year 2010, full of luck, health, success and yes, fun to stay in SL

Greetz
Casper Trebuchet

Liquidiation of LEM - final step

2009-06-19T18:11:00.004+02:00

Hello shareholders,

as announced we took a final step and will liquidate LEM over the weekend. We will cash out the shareholders but keep our portfolio. After longer reflection and discussion with major shareholders it seems to us the best solution to apply.

It comes out that the final dividend you can expect is exactly 1.52 $L per share. You can check this figures here

The assets are difficult to evaluate as the ask/bid ratios for our portfolio are rather unhealthy. We took 90% of the Ask prices, stipulating that it would be difficult to sell them for a good price. To give an example I got suggestions for 1 $L per RDX or 1.25 $L for a DDE...lol

This money will be paid out over the weekend

We asked ISE to destroy our LEM-shares (in the name of Casper Trebuchet) till Sunday so that we only have to pay a dividend on the remaining shares.

We also kindly asked ISE to give us a link to a secure ISE-ATM to pay in the money (500'000 $L) as we lost a bit overview during the recent changes and developments. They already answered so that we can proceed as planned.

We feel sad about our liquidation but we think it is the best solution.

As LEM we will continue on a private basis but stay dormant and follow from distance how things develop on virtual economy within Second Life. At the moment we don't have the time nor the interest to do anymore.

If you have questions don't hesitate to ask me.

Greetz
Casper Trebuchet

Financial report - May 2009

2009-06-01T09:32:00.004+02:00

LEM:ISE ended May 2009 with a profit of 41’671 (34'227) $L before dividend payment. NAV declined to 1.71 (2.04) $L/share. The dividend is set to be 0.015 (0.015) $L/share and was distributed just before

May was a stable month.

LEM started to sell its position in DDE because we will not IPO our latest derivative which is a basket on different companies at ISE. As a result we want to reduce our portfolio and invest the “liberated funds” differently. As we have written it at different other occasions we consider that our portfolio is too large in relation to the other assets. In selling some shares we can reduce our risk considerably and also produce a more sustainable NAV.

In consequence the NAV sank from 2.04 down to 1.71 $L/share. However, we have to consider that it is extremely difficult to estimate a NAV in virtual markets, especially as the liquidity is low what makes it rather difficult to sell the shares for a good price. As we sold 70’000 shares of DDE we reduced our portfolio already in a significant way which helps to stabilize the value of the remaining assets.

Those obtained funds are kept right now mostly on the currency exchanges in cash. LEM is not excluding that we will reinvest some of the funds in virtual shares again when we think the price is appropriate.

The profit is higher this month as we could consider two dividend payments of RDX. This might have a negative impact on the results of next month. We hope, however, that other earnings can be generated which will more than compensate those effects. We also have to consider that CAR only paid a part time dividend and others none.

LEM is paying a dividend of 0.015 $L which is a pay out ratio of 48%. The remaining rest of the profit will be reinvested.

The balance sheet and PL-sheet is given below

Our outlook for June is stable. We cannot guarantee the level of income as it continues to depend partly on the future of currency exchanges in SL and the outcome of different investment projects which are in elaboration.

Don’t hesitate to ask questions. You can reach me per IM, in the forum or directly over my email : casper.trebuchet@gmail.com

Greetz

Casper Trebuchet
CEO, LEM:ISE
http://lemurinvest.blogspot.com

April Financials and Dividend

2009-04-28T16:32:00.004+02:00

LEM:ISE ended April 2009 with a profit of 34'227 (19'615) $L before dividend payment. NAV rose to 2.04 (1.76) $L/share. The dividend is set to be 0.015 (0.015) $L/share and was distributed just before

We close the books 3 day earlier than usual due to RL circumstances of the owner. April was another of those stable months.

The shares DDE:ISE and RDX:ISE which are major holdings in our portfolio didn't stop to rise. The same can be said about ITA:VSTEX which regained some momentum. As a consequence the value of our assets climbed to 2.04 $L per share from 1.76 $L the month before.

We don't want to comment those values. However, we believe that those shares are overvalued considering the information which is available.

Unfortunately the currency exchanges didn't stop to slow down during April. We had again a drop of 30% of our earnings. Part of this drop is related to the short period we did the evaluation in April. We also lost some days were we run the wrong strategy. The days were return on investments of 4% per month were possible are lying far behind. Considering the efforts you have to put into the trade we slowly reach a boundary where this currency trading will no longer be interesting as an investment instrument.

We started again to do consulting work for SL avatars to support them to find a way in - through - out of this virtual financial maze...lol...

The dividend we left at 0.015 $L which let the pay-out-ratio climb to 66%. As there are no concrete investment projects in view we think this is the best way to use the company profit right now. The remaining rest of the profit will be reinvested.

The balance sheet and PL-sheet is given below

Our outlook for May is again mediocre. We cannot guarantee the level of income as it continues to depend partly on the future of currency exchanges in SL and the outcome of different investment projects which are in elaboration.

Don’t hesitate to ask questions. You can reach me per IM, in the forum or directly over my email : casper.trebuchet@gmail.com

Greetz

Casper Trebuchet

CEO, LEM:ISE

Dividend March

2009-03-30T18:25:00.003+02:00

LEM:ISE ended March 2009 with a profit of 19'615(47’564) $L before dividend payment. NAV rose to 1.76 (1.52) $L/share. The dividend is set to be 0.015 (0.0165) $L/share and was distributed just before.

March was stable compared to Februray. Some shares of our portfolio rose strongly (DDE and RDX) what sent our portfolio bullish. Its value climbed up to 1.76 $L/share. We hope that thise tendency will keep on. Also dividend earnings rose accordingly up to 9'000 $L and we realised some trading profit.

The reduced earnings are related to a depreciation we did in regard to the ISE:SIM drama. The CEO promised to buy back the shares and then disappeared without any notice. We had to depreciate 30'000 $L which put LEM into loss for March. However, we still hope that all this is a misunderstanding and that Pablo from SIM will stay to his word and do his buy backs.

The currency exchanges started to turn down in February and our earnings dropped 50%. We don't see the currency exchanges recovering and are thinking to use it differently. We will invest some time into research to find a solution.

The balance sheet and PL-sheet is given below
Financials

Our outlook for April is mediocre. We cannot guarantee the level of income as it depends partly on the future of currency exchanges in SL. However, we are optimistic to keep the actual dividend.

Greetz

Casper Trebuchet

CEO, LEM:ISE

Financials - February 2009

2009-03-01T08:28:00.004+01:00

LEM:ISE ended February 2009 with a profit of 47’564 (44'142) $L before dividend payment. NAV reduced to 1.53 (1.65) $L/share. The dividend is set to be 0.0165 (0.015+0.0015) $L/share and was distributed yesterday.

February was a slower month compared to January. On one hand I was hardly online in SL due to RL activities and on the other the market itself slowed down. As a result most of the major titles (DDE:ISE, RDX:ISE, ITA:VSTEX) in our portfolio lost momentum and the NAV went down to 1.53 from 1.65 $L the month before.

The currency exchanges begun strong in the first weeks of February but then considerably slowed down as well. In the end the revenue were still higher as in January. It looks as more and more “currency traders” are joining the boat which doesn’t make the cake bigger for everbody. This tendency is contradicted by an increase of new residents, LL is apparently successful to attract. It will be interesting were all this will lead to. For us it means that working with currencies is interesting but that new resources need to be explored. Most potential we see in “investment” projects where RL companies use SL as 3.0 Web platform. But looking into RL economy environment right now let us wonder whether those conditions may trigger such projects. Anyway, we stay on the sideline with open eyes.

Dividends also contributed to the revenue of LEM:ISE, mostly DDE and RDX. Independently of this LEM:ISE will continue to reduce its portfolio of quoted companies.

On the derivative side there is not a lot to say right now. We put our focus on subjects outside the virtual stock exchanges.

Dividend is 0.0165 $L per share which is about 45% of the realized profit. The other 55% get reinvested. LEM is not planning to increase the dividend percentage. Or should LEM think about paying high dividends and go into a huge SPO and start trading excessively its own shares…well, my name is not Ponzi..lol

The balance sheet and PL-sheet is given below

LEM:ISE

Our outlook for March is good. We cannot guarantee the level of income as it depends partly on the future of currency exchanges in SL. Other investment projects are in evaluation.

I’m still an optimist…as we live in the best of all worlds..I love Voltaire

And for all those who don’t think similar but are still greedy enough to wait for the big profit we put a buy order to make things easier to them so that they can sell their shares with profit. Those shares will then be destroyed.

Greetz

Casper Trebuchet

CEO, LEM:ISE

Additional Div - Super Bowl

2009-02-02T10:26:00.002+01:00

A small additional dividend of 0.0015 $L per share was paid today. It’s cosmetics you might say. It surely is but I think it is to honor the fact that the Steelers won the super-bowl..call me sentimental if you like. I give you four reasons why:

Because of William Pitt the name giver of Pittsburgh. He made the British Empire famous and cracked the French but couldn’t stop the independence of USA which strongly influenced the French revolution which finally remodeled the whole political landscape of Europe. This almost sounds like the way we find our ways through SL - from one new rule from LL to another regulation and another policy - with the exception that we haven’t identified a Pitt yet…It cannot be one of the Lindens as Pitt was known to give clear instructions and was a splendid and talented communicator…lol

Or the fact that steel production went up and down in Pittsburgh and transformed into somehting new and more sustainable. A bubble which went off but found a strong base again…sounds like we have to see our ponzi schemes here in SL or understand the financial systems in RL

Or because of the ancestors of Ben Röthlisberger which are coming from the same local spot as me where the Swiss Emmentaler cheese is coming from…for the insider it is the one with the big holes..

Or just because I like it

Up to you to decide.

Greetz

Casper Trebuchet

Dividend paid, financials for JAN09

2009-01-31T11:01:00.006+01:00

LEM:ISE ended January 2009 with a profit of 44'142 $L before dividend payment. NAV rose up to 1.65 $L/share. The dividend is set to be 0.015 $L/share and will be distributed today.

January was quite a good month which saw as using the currency exchanges to our profit and which contributed to our income significantly. As a company we are a bit worried about the consequences the purchase of Xstreet through LL might have on the currency exchanges. The one at Xstreet is operating with a spread which brings him much closer to "real" circumstances. However, it needs much more care and survey if someone wants to use it as a currency trader. If LL would suppress one of those it would have significant influences on our company strategy.

Most of the companies in our portfolio paid dividends which also contributed positively to our revenu. Two of those companies – DDE and RDX – announced already strong results for January. LEM is hoping that those announcements are already a sign that SL markets found finally a bottom and start to get bullish again.

Unfortunately we had to cancel the derivative LMLFDDE:ISE which passed successfully the IPO procedure. This happened because of risk and operational issues we couldn't neglect. However, the fact that there exists a mutual interest in such products makes us optimistic for further developments. We have already some products in mind which belong to a different risk category and help the holder to earn a steady income even in markets with low trading volums and large spread.

LEM:ISE is quite happy that RDX:ISE finally moved to ISE and could successfully list. It permitted LEM to recover some of its lost assets at WSE what we really appreciate- thank you Redux. The shares of RDX boost our NAV up to 1.65 $L. Right now we are not planning to buy back shares. However, we will use the market to keep an eye on the range in which LEM is traded.

The balance sheet and PL-sheet is given below

LEM

Our outlook for February is good. We cannot guarantee the level of income as it depends partly on the future of currency exchanges in SL. However, there are more dividends to expect from companies in our portfolio. More important, we will continue to develop derivatives and looking out for interesting investment possibilities inside SL. Also we are worried about the consequences of the Xstreet purchase of LL in relation to currency exchanges we globally think that the strategy changes in LL might have some positive future impact on SL in general and therefore in the end on the economy of SL as a whole.

But all who know me know that I’m a hopeless optimist…lol

Greetz

Casper Trebuchet

CEO, LEM:ISE

LMLFDDE - already busted?

2009-01-16T18:39:00.003+01:00

yes it would if it would have been traded. In the last three days I set up the conditions each day just to see that the stop loss was reached again...lol

This would be a nice business for LEM- 60'000 $L profit in such a short time, but you understand that I see that differently.

Everything is ready for the derivative, the new conditions are set, the terms too but the circumstances don't speak for it. It is not even because of the weak actual bid side for DDE:ISE shares which permits to boost the derivative with as little as 2000-5000 $L. I also neglect the bullish outlook Del - the CEO of DDE:ISE - gave us for DDE. I planned to couple the MINI long future with a short product and I'm almost sure that this would bring important bids in ...help to increase the trade.

Unfortunately it is not possible to prove this theory as it would exceed my time I can put on my SL "activities" as it takes quite a bit of time to manage one MINI future not speaking of more of them.

In other words. I think I have to be realistic and stop this experiment for the time being till further notice. The day has 24h and for some there is still the night...lol...I have to confess that I underestimated the work load. One product is fine but makes no sense in the environment we have and two of those are far too much for me. Furthermore I'm more taken in RL right now which also is a strong argument against...

It is good to know that people exist who are interested in such products. I surely will not give up the idea..I already have ideas for other products. Products with less sexappeal but where my managment input is also much reasonable.

All existing shareholders of LMLFDDE will get remboursed...I will ask ISE what is the best to do so.

I hope you understand.

I'm at your disposal for further questions.

Greetz

Casper Trebuchet

LMLFDDE passed the IPO!

2009-01-12T04:27:00.009+01:00

We have asked ISE to stop the IPO yesterday till the financial from DDE have been published. Unfortunately that didn't happen and the IPO got already fully through, even as we have warned the potential certificate holders about the dangers that migth inflict.

It is understable in a way, as DDE published in the meantime very nice financial data which show a bright future for DDE. Excellent work DEL. A long mini future is therefore exactly the tool to have in order to maximise profits in DDE.

As we have warned before we will now rethink the product and set its conditons. This will happen asap. If our decision is to give the product free for trading we will ask ISE that the actual certificate holders of LMLFDDE can reserve their certificates they already bought if they want. LEM also bought a few which we will put on sell. If the decision is a no go then the certificate holders will get their funds back. Nothing will happen without the approval of actual certificate holders. We have the shareholder list and will contact those holders over the message system of ISE as some of you might have capped IM.

Please expect a reaction decison soon.

Greetz
Casper Trebuchet

New IPO at ISE - Derivative - LMLFDDE

2009-01-08T06:33:00.006+01:00

LEM just filed an IPO for a derivative. The first one of this category we created within SL. It is a so called MINI LONG FUTURE Certifcate on DDE shares. We thought, after some reflections, that this type of derivative is best situated to fit the special circumstances we have in our virutal world.

We think the moment is good chosen. DDE is a company with reputation within SL. Furthermore, Delicious Demar is owing us an update about her company. So lets bet, will it be postive or not?

If it is the LMLFDDE are the product for you. YOu can particpate at the increase of the share prices with a fraction of the cost of real shares but with leverage factor and this open end...:-). And if not, well, you lose.

But to speak more frankly. LMLFDDE is not a product where you should put all your carved stones. It is an investment product to diverse your protfolio and reserve high returns.

We cannot wait to see your reactions.. The board of ISE accepted our IPO and put it on vote. The voting will stay open till Saturday, 1/10/09 at 9am SLT time. LEM wouldn't mind if your vote is YES!

Click here to vote on ISE

If it would be a success a similar MINI SHORT Furture on the same title will follow.

LEM believes that such products have a great future at virtual stock exchanges as they have in RL.

Greetz

Casper Trebuchet

LEM on the move?

2009-01-05T06:03:00.010+01:00

LEM could recover some of its former investments at WSE as RDX listed its company at ISE. 195’000 shares could be added to its portfolio. LEM is also positive about the outcome related to the investment instruments of Lindsay Druart. There is a chance that another important position could be regained.

Our WSE experience comes slowly to an end. Since LEM got delisted at WSE through fraudulent practices of its owner – Luke Connell – we could consequently recover different important positions. All of those former WSE-companies newly listed at ISE – the most reliable stock exchange in SL - helped to recover our assets.

Till now assets in CAR, DDE, SIM and in RDX could be reactivated which substantially increased the NAV of LEM from 1 (IPO price) to 1.5 $L/share.

We still expect some funds to arrive from Lindsay Druart and her investment vehicules. She just created a group where creditors can sign in. Theoretically we still had 100’000 $L in there when she closed her company.

In any case I’m impressed by this business ethics I can experience in Secondlife. We have a completely unregulated world in SL if we neglect the strong and somehow unpredictable hand of big brother LindenLab. However, it shows to me that business ethics is stronger in SL as anything we can observe right now in the regulated RL...quite amazing but quite true if we look what happened in the financial world. The credo could almost be - come to SL to learn proper business ethics...lol

I’m quite pleased that we apparently still live in one of the best worlds in SL. I have to express my entire satisfaction about the way the CEO’s of those companies handled those cases. It gives me back some of the confidence in people which I had lost a bit during 2008. I think this is not a bad start for 2009…lol…thank you very much sisters and brothers..

Speaking about LEM I’m still struggling a bit what to do. Listing LEM at ISE was mainly to develop derivatives what I don’t do right now. On the other hand I see me playing with the currency exchanges and being invested in companies what never really was my intention. So let us keep the main goal in mind and beside of that do what the circumstances force us to do...right now...we will see...

Greetz

Casper trebuchet

Financial report DEC09

2009-01-02T10:52:00.000+01:00

LEM realized a net profit of 30'499 $L during DEC which allows us to pay a dividend of 0.015 $L/share. Our NAV slight increased to 1.36 $L/share

The dividend was paid just before we published this report.

Our financials are given below

LEM

The increase of our NAV was mainly driven by the listing of the DDE shares. Also DDE is trading below its former IPO values at WSE it is now a subtantial asset in our portfolio.

Our cash position is still growing. We still see this as temporarily status we would like to change in 2009. Investigations into new business ideas are ongoing.

Happy New Year 2009 to all of you.

Greetz

Casper Trebuchet

LEMInvest

Update - Influence of DDE:ISE?

2008-12-13T11:01:00.007+01:00

The listing of DEL's DDE has some impacts on our assets. Not the one of the DEL button of my keyboard…lol…That is why I thought it to be necessarily to give you a short status about our business. The listing of DDE:ISE let our NAV rose to over 1.4 $L/share. Independently of that, our net profit climbed up to 22’000 $L in the first 12 days in December. Dividend for December will probably be at least 0.015 $L /share.

The listing of DDE:ISE has a positive influence on our assets. We had them in the books with 1 $L. it comes out that this value was underestimated. With current prices of 2.5 $L our assets will climb and the NAV will rise to > 1.4 $L/share.

On the earnings side we worked quite well with the different currency exchanges and are lucky to have invested into some companies which pay dividends. Also trading contributed a bit. Overall we had 22’000 net profit in the first 12 days of December. We estimate that this value will be doubled till end of the year.

If we take a net profit of >40’000 $L and consider that 50% goes into dividends then we can assume a minimum dividend of 0.015 $L per share.

There are also some negative points. Our projects really don’t advance. Playing on ISE and do some clicks per day to survey is one thing. Investing time into a project needs much more energy and resources which I don’t really have right now. But hopefully, I will find a solution for that and a new motivation.

LL is not really helping to give me this motivation. It is somehow alarming to me that there are no real new developments to see and this since months. It looks as they are running the whole thing on low fire and wait on better times. Development is costing money and venture capital is not easy to get during this hard times. I really wonder about their financial capacities and situation. Hopefully I’m wrong here.

I wish you already a merry Christmas and an excellent New Year as my next post possibly will come in the beginning of next year….somebody has to start with the greetings I think …

Greetz

Casper Trebuchet

CEO, LEM
http://lemurinvest.blogspot.com

Financials NOV08

2008-12-01T13:15:00.002+01:00

LEM realized a net profit of 20'903 $L which allows us to pay a dividend of 0.01 $L/share. Our NAV slight increased to 1.22 $L/share compares to 1.14 $L/share last month.

The dividends will be paid as soon as LEM is traded at the main board. We hope that this will happen in short time. All outstanding shares will be considered for the dividend payment.

Our financials are given below

LEM

As you can see our earnings were slightly above predictions we made in October. This is mainly due to some lucky share trades we could conclude on ISE and VsTex.

Our cash position is important right now and will even grow with the IPO money we will get. We see this as temporarily status. There are different investment projects in SL we are investigating right now in which we are looking to invest.

The trading on the different $L exchanges allows us to realize some profits which cannot be neglected. Furthermore it has the advantage that this money can be made liquid in short time if we need it for an investment project. We will continue to do so.

On the derivative side LEM is a bit disappointed about the stock market development at ISE as such. There are now quite a few new companies listed at ISE and companies in general communicate and show some continuity. Some of them even have nice underlying business ideas. However, the market is extremely volatile due to small volumina and only a few buys or sells can destabilize the market completely. Under such circumstances it makes little sense to develop derivatives. LEM will continue to observe the market and react accordingly. We haven’t given up yet creating derivatives!

As always we are looking optimistic into the future and hope that LL will not add new restrictions or other not consumer friendly measures – St Nicholas has spoken here…lol…

Greetz

Casper Trebuchet
LEM

Update and dividend for November 2008

2008-11-29T13:49:00.005+01:00

We are very pleased that we sold already more than 300'000 shares in our IPO. Only 180'000 are remaining. This result is much more than we have expected. We thank all investors already in advance for their great support and confidence.

Our businesses was doing quite well during November. In relation to that we can already announce that a dividend of 0.01 $L/share will be paid as soon as LEM will enter the main board at ISE.

At that moment we will also publish more information about our financials and update you about our future plans.

Greetz

Casper Trebuchet

IPO at ISE accepted!!

2008-10-29T07:39:00.003+01:00

Hello everybody,

It's a pleasure for me to see that ISE approved the IPO of LEM and I thank them as well as their users very much for this support and confidence. We will try hard to create value for our existing and potential stakeholders even in an environment which is not always developing to the positive. We just have to think on the latest policy change of LL in relation to OpenSIM. Again a strategy change on the back of the users/clients coupled with not existent communication but with probably important consequences. Do they copy WSE…lol?

This also will affect LEM as we are invested in some "real estate" virtual companies. As a consequence we will follow what is ongoing and react accordingly. As LEM abandoned its real estate business in SL we reduced our liabilities to zero in this field and we created room for new activities. We will select them carefully.

In the link below you will find our initial balance sheet plus some conservative P/L estimates for the month of November. It will give you an indication what we are up to and what you can expect. One of the major objectives is to develop LEM in such a way that it can afford a regular monthly dividend of 0.01 $L/share. As the investments we did in other companies weight heavily in our assets but only give small revenues this cannot be achieved in short time. Also we have to consider that some of those investments might increase their value and thus influence the NAV of LEM positively.

LEM

In conclusion we are still quite optimistic (I’m always one…lol) about the future development of LL and therefore too for LEM…You are invited to step in…! The IPO will be open till end of November 2008.

The NAV will be published regularly on our blog (http://lemurinvest.blogspot.com) till further notice. We plan to move the blog into a web in the coming months.

Greetz

Casper Trebuchet

CEO, LEM

LEM at ISE?

2008-10-26T07:25:00.003+01:00

As of today ISE accepted our candidature to become a listed company at the ISE stock exchange in SL.

Dear old and also interested new shareholders, please, feel free to inscribe you at ISE and vote for our listing...

http://www.intlstockexchange.com/punbb/viewpoll.php?id=617

We count on your support...;-)

in the same link you will also find a description of our activities we want to develop. Those are mainly focused on development on new derivaties which then should be traded on ISE, currency trading activities and virtual business development as investor or intermediary.

We plan to have 1.5 mio outstanding shares, 500k open to the public. Those shares are backed up with assets of 1.4 mio $L, cash 0f 700k $L and assets of 700k $L in shares of listed virtual companies. The IPO price per share is set at 1 $L. I will head this company.

If you have questions then please let me know. You also can use the forum of ISE for that purpose.

We really hope to see you again soon in SL and let you participate on our success.

Greetz

Casper Trebuchet

LEM

Back again!

2008-10-18T16:07:00.002+02:00

Dear investors,

after some period which we used to restructure our business and also study the economic situation in SL we decided to list again.

If regulated RL economy run into such huge problems we experience nowadays, the unregulated SL economy cannot not doing worse. At least we know for sure that it is not regulated...lol

Our intention is therefore to continue our work of before. Screening SL and RL for companies with interesting business concepts and ideas, helps them to develop a corporate strategy, engages itself financially or arranges financial solutions and helps them to achieve success in the market. Furthermore, we will also continue to develop derivatives as we believe that ISE (http://www.intlstockexchange.com) starts to have a reputation and size which might allow to develop such products.

As before part of the benefits will go into the independent LEM Foundation. The foundations supports financially environmental projects and initiatives in SL and RL.

We sent a request to the stock exchange ISE today.

We hope to see you again soon.

Greetz

Casper Trebuchet
CEO, LEM

LEM - pay back closed

2008-06-09T08:22:00.005+02:00

Hello!

We are still around and even paid back our shareholders as far as we could rebuilt the shareholder list in relation to the assets we had outside WSE.

LEM still exists but as private company. We reduced our activities in SL and start using SL as a 3D-Web platform for RL activities. In relation to this we will smoothly close this blog and move to a Web address.

We are still here to support business ideas in SL but as said will do this only on a private basis.

We still believe - this is the optimist in me...lol - that virutal worlds have a great future for further development. However, either RL regulation enters those worlds where virtual money can be exchanged into real currency or this conversion has to stop. There are hardly any other solutions.

In some countries virtual money is already considered to be taxable, like flight miles etc...what is a good development in my eyes.

If rules are not clear virtual worlds just opens door to scammers or even more dangerous to unprofessional business ethics which in the end only cause harm as we have seen in repeated cases. Then it is only a question of time when regulation has to step in.

Anyway. it was a great time I could spend with you, my old former shareholders, and I hope to see you inworld again...

Greetz

Casper Trebuchet
LEM, CEO

LEM: Update

2008-05-14T22:02:00.003+02:00

Hello,

It took some time but the reconstruction of the shareholderlist is now in what I have to consider the final status.

Next week I will start to reimbourse the shareholders. As said the price wil be 1.4 $L per share. It depends a bit on my RL occupancy, but I think I will do so on Monday. Keep an eye on your LL acount.

The shareholderlist is the following:

In case of problems or questions please don't hesitate to contact me. Inword by IM or better over my e-mail casper.trebuchet@gmail.com

Greetz

Casper Trebuchet

LEM: Shareholderlist

2008-04-13T23:49:00.011+02:00

The deadline passed and till now we could reconstruct 70% of the LEM shareholder list (compare with list at the end of this announcement). All not assessable shares will be distributed to the rediscovered shareholders in relation to the shares they possessed in LEM. LEM decided to go public and will pay out shareholders in the coming weeks. Pay back price will be the NTA-value we published in our last financial report for March (NTA = 1.4 $L/share). As we have now a shareholder list we will study ways to claim back our assets.

I wrote already about the problem that $L can be converted into real currency on this blog. Game and RL are interfering with each other which amplifies reactions, in a good but also a bad sense. We just have to look what is ongoing in the so called financial markets in SL to learn about dramas here and there.

WSE which wants to leverage this currency exchange problem to Icarus level- Wiseguy Capra just filed a IC3 (www.ic3.gov) report last week, SLCapex converted cash positions into shares nobody wants and tries to apply 10’000 pages of GAAP guidelines on penny stock companies, VsTex applies guerilla communication strategies – a lot of wind can blow in some noobs, ISE is so smart that nobody notice it, Ancapex is a long story of trustworthiness which apparently is on best way to end on tribunal, we surely could continue this story.

LL is not better and give an excellent example. They announced to cut Island sell prices from 1650 USD down to 1000 USD. What is good music for the noobs is not as good for the old land owners. Apparently to catch noobs is more important for SL than to keep the old ones happy - I thought known marketing strategies should aim in the opposite direction…lol.. However, if somebody is changing rules in repeated fashion the way they did we better take their TOS for serious and keep RL money input as low as possible. Either land is suddenly sized, or account frozen or charged with additional fees etc. Nobody can build on such fundaments.

No, SL is definitively not a game with this money conversion and the fact that LL is even looking to expand and increase the size of the grid makes things even worse. At the moment delict sums are small compared to RL situations. It is even often not worth to put an attorney on the case, and to deal with internet criminality is legally quite a white map. However, if SL expands the grid, greed will always be a close partner and delict sums will increase too. We lost roughly 6 M $L with the hostile action of WSE, may be the next time the sum is 100 M $L. For me it is just a matter of time till RL regulation will step in with force and forbid this currency exchange. The good thing is that probably 70% of the SL users will not care about as they only spend <10’000 $L per month and most likely see SL just as an intelligent amusement and surely not a financial place.

LEM thinks quite similar. It was interesting to explore the financial markets and we created value even if we include the WSE fraud. To work with derivatives was fun and wouldn’t be possible as easily under RL conditions because of heavy regulations. I personally could see such products traded at a stock exchange platform which simulates such business with RL life data so that users can learn about this business without risking something. Saxo Bank is already applying such a tools, but we see there still potential.

Anyway, after careful reflection LEM decided to go private with immediate effect. In consequence we will pay out our shareholders. This will happen over the next weeks in a step by step procedure.

Unfortunately, the shareholder list is not complete. However, we think that each shareholder has some responsibilities to take. If somebody is investing into a company – his duty is to keep informed and react proactively. LEM communicated in regular manner on WSE and we always gave the link to our blog where further updated information has always been available. If our shareholders consulted our blog in the last 90 days they could follow what is happening and had enough chances to respond. We therefore decided that the shareholder who didn’t claimed their shares agree with the policy of WSE and are satisfied to get 1 WTF share for each LEM share and don’t expect more. Their shares will be redistributed to the other shareholders in relation to the participation they have in LEM. As pay back price we take the NAV of last financial report which was 1.4 $L/share (compare with table).

As LEM possesses now a shareholder list, we will continue to search for ways to claim back our assets. If we would be successful, we would let participate our shareholders with a special final dividend. Last week the avatar Wiseguy Capra filed a IC3 report against WSE (www.ic3.gov). We follow this case closely.

If we would get the original shareholder list together with our assets from WSE we would do the necessarily adjustments.

LEM itself will continue its business as usual. However, we will put more emphasis on RL business and use SL as a mirror and communication platform for our RL requirements. If you are interested to learn about our business then contact me inworld or send me an e-mail casper.trebuchet@gmail.com

Greetz

Casper Trebuchet

Lemur Invest, CEO

LEM: Financial report (March 08)

2008-04-02T18:28:00.004+02:00

Summary
=================================================================================
NTA went down from 3.99 $L to 1.40 $L per share during March 2008 because of hostile confiscation of assets of LEM at WSE
EPS is 0.025 $L per share (-0.025 $L in February)
LEM ended February with a profit of 43’460 $L (previous loss of 28’927 $L
LEM will not pay a dividend for March because of not yet reestablished missing shareholder list

March was marked by the hostile confiscation of all our assets at WSE (read announcements on our blog). LEM was critical towards WSE and its policy what apparently caused WSE to confiscate all our assets, seize the cash position (300’000 $L), lock the company account and convert all shares from LEM and those the three derivatives into WTF shares with a ration of 1:1. This happened without pre-warning nor an audit. Assets of > 4.5 $L are destroyed.

We are studying ways right now to claim back our assets. As WSE is refusing to give us a shareholder list of LEM decided to reconstruct it as close as possible. A deadline is given latest 11th April where LEM shareholders can communicate us the number of shares they owned before WSE closed in January (compare with our announcement of 29th March 2008 on this blog).

We restructured our business during March. As we got stripped off of almost 60% of our assets the whole portfolio looks quite different now. We are no longer invested on WSE but still have strong share positions at SLCapex, VsTex and ISE. Our real estate business continues to contribute positively.

We will not pay a dividend this month as we first have to establish the shareholder list.

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

Results for March 08 (February 08)
================================================================================
Income ($L):
------------
Financial products : 17’058 (13’058)
Trading : 28’109 (18’408)
Consulting : 3’000 (3’000)
Stock sell : 76’372 (92’174)
Others : 91’770 (632’387)
TOTAL : 216’309 (759’027)

Expenses ($L):
--------------
Financial Products : 13’728 (112’234)
Donation : 2’500 (0)
Tier : 81’125 (6’000)
Wages : 7’500 (20’000)
Stock purchase : 67’996 (130’720)
Others : 0 (519’000)
TOTAL : 172’849 (768’954)
Profit/(-Loss) ($L) : 43'460 (-28’927)

Asset ($L)
----------
WSE : 0 (5’122’314)
SLCX : 731’400 (703’245)
ISE : 25’042 (32’953)
VsTek : 339’349 (269’293)
Land : 406’000 (6’000)
Loan : 0 (0)
Cash : 886'000 (1’238’644)
Investment : 653’500 (15’000)
Others: 29’000 (27’500)

Total : 3’070’291 (7’414’969)

Liabilities ($L)
----------------
Loan : 500'000 (500’000)
Dividend : 0 (9’058)
Tier : 170’000 (85’000)
Total foreign capital : 670’000 (594’058)

Constitutional capital LEM: 1’710’756 (1’710’756)
Constitutional capital LFB: 0 (462’540)
Constitutional capital LWI: 0 (130’026)
Constitutional capital LHH: 0 (1’572’705)
LEM Future Fund : 0 (0)
Reserves : 646’075 (2’973’811)
Profit/Loss : 43’460 (-28’927)
Total equity : 2’400’291 (6’820’911)

Total liabilities: 3’070’291 (7’414’969)

Monthly dividend/share : 0.0 $L /month
NTA 1.40 (3.99) $L
EPS 0.025 $L (-.02 $L)

Next report:
===================================================================================
Next report will be published on May 2, 2008. Updated value for NTA is 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

LEM: Shareholders - shareholder list

2008-03-29T15:18:00.006+01:00

Dear shareholders

We didn’t disappear … we just got banned to Nottingham forest by a self named sheriff and little king in one person...lol…Hopefully, we know how to climb trees as the lemurs as we are…we still have to learn to use a longbow…

Unfortunately this is not funny at all. It looks as WSE doesn't give us the shareholder list of LEM. I think with good reason as we will use it to claim back our assets. However, LEM is far from bankruptcy what is easily to see if you check our financial reports on this blog.

WSE seized almost 60% of all our assets we had totally. Our fault, I agree, as we couldn’t believe that the business ethics at WSE is as such as it is. Anyway, this was a hard blow for us but I also would like to outline that we still have roughly 3 M $L assets which are not related to WSE.

We want to try to reestablish the latest shareholder list. To do so it might be best to use the dividend we paid on February 12 2008 for LEM. We heard that this information has not yet been filtered. We therefore kindly ask you to send us a screenshot from the dividend screen of your WSE-account together with one of your portfolio. We will keep this information secret. Send this information to me by e-mail: casper.trebuchet@gmail.com

Based on this information we then try to reconstruct the list with other information which is public.

DEADLINE is before WSE opens again but latest on 11th April 2008.

This list permits us on one hand to let you participate on our not related WSE assets and on the other to claim back our assets from WSE.

If you have questions then please visit me in my hut in the forest of Etopia Island. Don’t forget to bring some goose feathers with you....

Greetz
Casper Trebuchet

CEO, Lemur Invest

WSE: Petition at facebook to stop this fraud

2008-03-21T09:00:00.002+01:00

Dear former shareholders of LEM, LFB, LWI and LHH.

What is ongoing on WSE looks to be a big sized scam. At the moment we study all possible ways to claim back our assets.

Wiseguy started this petitions

http://www.petitiononline.com/sl01/petition.html

which aims into this direction. Please consider and sign up!

Greetz
Casper Trebuchet

CEO, Lemur Invest

LEM, LFB, LWI, LHH conversion into WSE:WTF

2008-03-19T10:35:00.005+01:00

WSE converted LEM, LFB, LWI and LHH into WSE:WTF on 18th march 2008.I just wanted to assure our "former" shareholders that LEM had enough assets to cover largely all liabilities. Unfortunately, WSE is delisting companies without having an audit made what we strongly regret. The WTF shares have almost no value (0.03 $L) and the conversion rules are apparently 1:1. This is not in the interest of the shareholders of LEM, LFB, LWI and LHH.

LEM had 6.2 M $L assets at WSE (my shares of 1 M LEM included). We had 1.2 M shares in HCL and almost 1 M $L invested in the bond of WSE, e.g. HCB. We also can add 5% of all DDE shares and other holdings which sum up to 6.2 M inclusive 300k cash. Most of the titles didn't pay dividends since January as the market was closed. Those dividends are even not considered in those assets.

The real values of LEM,LFB, LWI, LHH:

LWI:
This derivative ended 18th Janaury but wasn't yet reimboursed as the market was closed. After the calculation we gave in our prospectus or you can find on our blog each shareholder of LWI should receive 0.95 $L per share in cash and not 1 WTF-share with a value of only 0.03 $L !

LHH:
This high-score derivative on HCL ended last week. As LHH hit its barrier and even reached highest values the calculated pay rate is 3.64 $L/share. See sidebar in this blog. As shareholder you should receive 3.64 $L per share in cash and not 1 WTF-share with a vlaue 0.03 $L? Are HCL shares really so bad?

LFB:
This product should still run. Pay back value is 10 $L/share. After our calculation a regular dividend of 0.2 $L /share could be paid till this derivative also expires. A pay back of 10 $L per share should be possible but a conversion into 10 WTF makes no sense.

LEM: If LWI, LHH, and LFB are paid back, and if we assume share values of the titles we had in our portfolio to be those of 3th January a final dividend of approximately 1.5 $L /share is possible for LEM! This is unlike 1 WTF-share!

May be we have to go back to school again to learn to calculate. If a result is only 90% correct we may use statistics to straigthen it..lol. But if differences are 3000% and more % then we have to ask us questions. Do you smell the rat?

We leave it up to you to decide what you do with this information. We just think that you have a right to know our position as we sit on our trunk in the sea and have some time to spin ideas ..lol

Greetz

Casper Trebuchet
Lemur Invest, CEo

LEM, LWI, LFB and LHH delisted!

2008-03-18T08:58:00.011+01:00

LEM, LWI, LFB and LHH were delisted today as you can read on the home page of WSE (www.wselive.com). Assets of 4.5 M $L are converted to WTF shares. After WSE our responsibility with our virtual business on WSE ends the moment WSE closes the business on WSE. ..sic.

The story is simple. LEM was and is concerned what happens in WSE. We are also concerned that CEO’s of listed companies at WSE are not considered in the future development of WSE nor even informed. Furthermore we think that there is no transparency at WSE as no financials are available which doesn’t help to establish a sound confidence to the management of WSE. We therefore organized a meeting with other concerned companies 10 days ago. Luke was aware that this will happen.

After this meeting we asked Luke to have a discussion with him what he accepted but only to expel me before this could happen. The meeting was scheduled on last Sunday.

The delisting of LEM has a major impact on our shareholders. We feel extremely sorry for you about this unexpected raid and the way WSE is handling this situation.

If you compare with our last financial report we had about 7’414'969 $L assets and a NAV of 3.98 $L per share. On the WSE only we were major shareholder in HCL with 1’2 M shares and had 1 M $L in HCB. Totally we can claim 4.5 M $L assets at WSE inclusive a cash position of 300k $L and I don’t speak about not yet paid dividends for DDE, CAR, HCB, HUI and others. Please refer to our latest financial report from Feb08.

After WSE our responsibility on our virtual business on WSE ends the moment WSE closes the business on WSE. In exchange you get WTF-shares which I don’t want to comment.

We don’t accept this situation as LEM was a growing company which increased its value till the market closed up to 400% in only 8 months.

An abuse record was written to Linden lab, Lemurs are not only cute but also ghosts causing nightmares after Roman mythology to those who behaved badly…lol. Hey we still can laugh..

The brand Lemur Invest still exists and the company will continue it's activities. Either as private company or list at another stock exchange . Unfortunately I haven’t got a shareholder list as WSE is refusing to give it us. If we will receive it we will consider the former shareholders in our remaining enterprise. In any case we will claim our assets from the WSE.

In case of further questions please IM or e-mail (casper.trebuchet@gmail.com) me.

I want to thank all former shareholders for their support and if you want to join us on our trunk leaving Africa to new territories no problem, just keep in touch.

Greetz

Casper Trebuchet
Lemur Invest, CEO

http://lemurinvest.blogspot.com

Links about recent delisting:
Delist of LEM
Delist of SLW
Delist of SRI
Legal aspects
Meeting-Transcript
Delistings at WSE

Official WSE-Web

LFB: Dividend payment (February)

2008-03-10T06:48:00.001+01:00

A dividend for february of 0.2 $L/share has been paid just before.

We will continue to do so as long as we have cash reserves on WSE we cannot use differently as the market is closed.

Greetz

Casper Trebuchet

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

WSE 4.0: Some thoughts

2008-03-04T07:53:00.007+01:00

Luke Connell’s recent announcements during his most recent video address have left many questions unanswered. Many of Connell’s announcements, including his decision to trade exclusively in his WIC currency, have led to mixed reactions from WSE investors. The fact that the WIC would eliminate the currency of Second Life from the trading aspect of companies originating from –and for many, existing solely within- the virtual world of Second Life leads me to wonder what effect a systematic removal of in-world currency will ultimately have upon our interests as publicly traded companies.

There are also opportunities as we heard, especially related with the interaction with a third party whose name has yet to be revealed. How will this impact our virtual businesses? Are there opportunities we are currently unaware of? Will this new party require revisions to our respective business models?

Certainly these are not my only concerns and questions, but they serve as the impetus for the following thoughts...

The financial sector in SL is a mess, sorry to say so but quite logical if we look at it closely. The main problem is that $L can be exchanged into other RL currencies. If we do so, the boundaries between SL and RL vanish and we come into this nirwana of unregulated cyber world where frauders are happy people. Did I tell you that Jasper Tizzy – this guy who suddenly vanished with millions of $L apparently still is enjoying SL under different names - and is apparently still linked to some listed companies and stock exchanges in world. Or take one of the remaining banks which even claims to have a RL licence. Month after months there are stories about getting frauded, having a defaulted system, new companies are created and disappear again…and the banks still continuously speaks to pay back the investors deposits, however, only under conditions which make you laugh. The last decision is to put them on ice for up to 120 days (either you see almost nothing…profit to the bank) and then pay back it in rates but not for all of course (profit for the bank). First in - first served…and the other people, they can buy useless shares (profit for the bank), or see them thrown down the well of her brokerage system (profit for the bank). It looks as investors sleep better to depreciate thier belongings without expecting a thank you from the bank. Then there is this other exchange which accumulated around 90 millions $L over a Ponzi like system with high daily interests. Then the enchanter is passing by and suddenly those funds are no longer liquid. So how do they proceed?…They freeze the ATM’s so that no withdrawals are possible anymore, then they create new shares and convert all cash deposits into these shares promising to buy them back for a fair price in the far future if things develop nicely for them. They do as the share is down 50% and they don’t announce when they start their buy backs in advance, so again small profit for the owners on the back of the investors till they disappear to fun city. Should I continue…better not. And in fact nobody can accuse those people as the system is responsible. It creates them.

I think it is a big mistake that those $L can be converted into RL currency in SL. Where does regulation start and where does Wild West begins? SL is a game and as such it should operate as other similar games do, like Warhammer or Entropia. There RL currencies also play a role but just oneway in order to buy better equipment. An economy in SL could function also that way. I wouldn’t be surprised if this will be the next step LL will take to avoid further problems with authorities in RL.

SL is a game and there I agree with WSE. But it has to be a game and that is why this money conversion makes no sense. It is even dangerous and there we come to the problem I have to deal with. If WSE goes to use WIC it will happen basically outside SL. At least Linden Labs is a company with a certain size, has offices, you can address, even people you can identify. What is the WIC/WSE platform legally? A web-address, an investment bank with banking licence? It is a game token but with the possibility to exchange real money. To take it further, it is even the goal of WSE to attract users from outside SL so from RL. But not all these people will only join the platform to take part in a game but because they want to earn money. If this happens it is only a question of time till problems appear of unsatisfied investors because a company failed etc . We experienced enough such examples in the near past. Then immediately RL regulation will break in with all force into this platform which would be no fun. I can even put the story with an example to the absurdum. LEM has assets of 5 million $L at WSE. If someone wants to buy up LEM, I’d be obliged to ask the RL-identity of this person and where the money is coming from as the entire sum is reaching levels where definitively money laundering procedures would start. Either I may have problems with my authorities as we have a strong money laundering legislation where I live in. It wouldn’t be sufficient that it comes from a Paypal account. How can a company on WSE operate under such conditions? And if we go to RL also the size of listed companies may change and with that also such problems.

On the other hand, there could be a niche for a worldwide stock exchange for micro-companies which are not necessarily SL companies. If this is the far goal of WSE 4.0 there may be some interesting potentials, especially if such an initiative would be supported by a strong third party which can contribute. But interfaces in between the virtual and the real world must be defined in a clear way what is not yet the case so far, at least as I understood.

I think it would be necessary that we CEO’s and investors are approaching Luke Connell in a constructive matter but also with a respectful concern about his vision of the future for WSE and how our respective futures are being considered as cornerstones of the WSE. When I use the word “cornerstones,” I am reflecting upon the numbers of us who listed at the WSE soon after its conception and have remained here through the trials and tribulations the exchange has experienced in a relatively short time. But I also want to include all the traders who kept the place living during all this time. I do not think Luke to be ignorant of our contribution to his market.

In my opinion, the logical first step to such an initiative would be a meeting with Luke to discuss our mutual concerns and those issues we believe to be most pressing. In this way, we will not only present ourselves as a unified group of tried-and-true allies to WSE, but as a respectable group that is genuinely concerned for our mutual futures and seeking only clarification and reassurances that are both reasonable expectations for individuals in our respective positions.

We then would face Luke in order to defend our interest but also to get the needed planning security for our businesses. We are all business people. Some use WSE simply as a platform to raise money to invest in SL, while others are traders and directly depend on the system, or use WSE just in an exploratoring matter. The objectives of the individuals may be very different, but in the end it comes down to strategy and the vision of WSE.

However, I’m not a friend of unions or overall meetings and it is even harder to organize such in SL. I believe more in a direct approach and dialogue. If therefore somebody shares my threats or opportunities then please contact me. I will follow the path I outlined whether alone or not but depend on your support too.

Please respond either inworld, per e-mail casper.trebuchet@gmail.com or as a comment on the blog.

Please note that this is not a mutiny! As lemurs we are too cute animal for such things. We are simply revisiting our ancestral dilemma of whether we should utilize nearby resources to escape to Madagascar –or other unknown territories- or risk being eaten by carnivores where we presently reside...lol

greetz,

Casper Trebuchet
LEM

LEM: Financial report (Feb 08)

2008-03-03T20:41:00.005+01:00

Summary
=================================================================================
NTA slightly went down from 4.08 to 3.99 $L per share during February 2008.
LEM ended February with a loss of 28’927 $L (previous profit of 104’694 $L)
LEM will not pay a dividend for February

WSE was still closed and which permitted only little trading. Important cash positions are still locked in different accounts. In Slcapex we could eliminate cash positions in transferring them into shares we believe before they were converted into SLW.

LEM backed off entirely from DSE stock exchange. This was only possible with a significative loss.

The real estate project at Gomphus came already to an end as we sold it again with profit. We started to function as a broker for European real estate owners who have to pay VAT in order to reduce their charges. We control one SIM and a second will follow in short time.

We dissolved our LEM future fund (LFF) as major holdings are blocked due to market stop and some of the investors claimed their money back. They got entirely reimboursed with profit. As soon as markets will open again and/or markets will function normally we will decide whether we will build up a new one.

The overall situation of LEM looks quite good. However, as investment bank we are suffering from the market stop of WSE and liquidity problems in different other stock exchanges. On the other hand we have a portfolio of interesting values which has potential and the new activities in real estate also start to contriubute positively. We had to cut dividend payment for February but will retake it once the markets start to function normally again.

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

Results for February 08 (January 08)
================================================================================
Income ($L):
------------
Financial products : 13’058 (33’714)
Trading : 18’408 (54’300)
Consulting : 3’000 (4’250)
Stock sell : 92’174 (162’830)
Others : 632’387 (15’825)
TOTAL : 759’027 (372’240)

Expenses ($L):
--------------
Financial Products : 112’234 (117’995)
Donation : 0 (0)
Tier : 6’000 (6’000)
Wages : 20’000 (10’000)
Stock purchase : 130’720 (133’551)
Others : 519’000 (0)
TOTAL : 768’954 (267’546)
Profit ($L) : -28’927 (104’694)

Asset ($L)
----------
WSE : 5’122’314 (5’170’314)
SLCX : 703’245 (956’005)
DSE : 0 (39’432)
ISE : 32’953 (23’463)
VsTek : 269’293 (0)
Land : 6’000 (6’000)
Loan : 0 (0)
Cash : 1’238’644 (809’241)
Investment : 15’000 (15’000)
Others: 27’500 (27’000)

Total : 7’414’969 (7’573’382)

Liabilities ($L)
----------------
Loan : 500'000 (500’000)
Dividend : 9’058 (86’234)
Tier : 85’000 (6’000)
Total foreign capital : 594’058 (586’234)

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 : 0 (518’000)
Reserves : 2’973’811 (2’488’427)
Profit/Loss : -28’927 (104’694)
Total equity : 6’820’911 (6’987’148)

Total liabilities: 7’414’969 (7’573’382)

Monthly dividend/share : 0.0 $L /month
NAV 3.98 (3.99) $L
EPS -.02% (6.12%)

Notes:
========================================================================
(1) General: LEM is waiting for WSE 4.0. Knowing that this platform will trade in WIC instead of $L we will have to rethink our position. Not towards WSE as such where we can count on a very positive track record till now and good experiences. However, the new currency can bring us new risks we have to consider. This probably will directly influence our business with derivatives. For LEM, however, we don’t foresee major changes. If WSE 4.0 would fail what we don’t expect then we probably will not list at another stock exchange and continue as private company so that our investors will not endure losses. But this would be the worst case scenario.
(2) Consultancy work was down as we didn’t spend too much time in SL. We are still looking to find ways to expand it. I repeat myself here…lol+
(3) Trading profit was low with 18’408 $L. It will be interesting to see what the new features of WSE 4.0 will bring and how they can contribute to a successful trading business
(4) 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. The payback value will be calculated one day after the reopening of the WSE. We will compare this value with the one for the day when WSE did close. The higher one will be taken. At the moment you can expect to get 0.95 $L /share back as the index didn’t showed a positive development in the last 6 months.
(5) LHH:WSE: The title will reach its deadline in mid-march. At the moment we are checking the log data from WSE to calculate the pay back value. It will be published as soon as WSE is opening again. The barrier was reached, however, there were some false trades in WIC which are linked to the old system we have to exclude.
(6) LEM Foundation. We will further invest in Etopia Island to support their sustainable efforts. The new SIM is operational. This investment reflects our commitment to sustainable investment.
(7) LEM Future Fund (LFF): Because some investors claimed their money back in relation to the banking ban we dissolved it with profit for the investors. As soon as WSE will open again we will decide whether we will open a new fund.

Net profitability of equity after dividend is -0.02% (6.08%) p.m.
There is no dividend paid for February

Next report:
===================================================================================
Next report will be published on April 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

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

LFB : Dividend payment for January 2008

2008-02-12T23:00:00.000+01:00

There is little to say about the product as the stock exchange market is still closed.

However, a dividend for LFB of 0.2 $L/share has been paid just before.

Greetz

Casper Trebuchet

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

LEM: Business report (January 2008)

2008-01-31T10:33:00.000+01:00

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

LEM: Prospectus update and various matter

2008-01-26T11:17:00.000+01:00

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

LEM: Update

2008-01-16T21:34:00.000+01:00

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

LEM: Update and New Banking Policy from LL

2008-01-09T20:17:00.001+01:00

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

WSE - update - trading halt and consequences

2008-01-04T09:35:00.000+01:00

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

LWI: Prolongation and update

2008-01-02T00:08:00.000+01:00

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

LEM: Business report (December 08)

2008-01-01T23:24:00.000+01:00

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

2008

2007-12-24T07:06:00.000+01:00

what will bring 2008 ..?

LEM doesn't know but invite you to explore it together with us.

Merry Christmas and a successful New Year to all of you, investors, friends, followers and even libelers...

Greetz

Casper Trebuchet

House of derivatives (LFB, LWI, LHH)

Http://lemurinvest.blogspot.com

LHH - business report (NOV/DEC)

2007-12-22T13:57:00.000+01:00

WSE communicated recently that WSE 4.0 will be born in mid-January 2008. A “worldwide launch of the World Stock Exchange to the mass market as the world’s leading internet-based stock exchange platform to be used for educational and entertainment purposes”-to use their words will then follow. WSE expects that trading volume will exceed 10 million $L per 24h and 50’000 additional users my join the stock exchange.

LEM is less optimistic but even if only 10% of this is true volumes in WSE will at least double which will affect the profitability of WSE. Furthermore quite a few IPO are waiting to get their approval which should bring a new dynamic into this cyber exchange market.

Logically HCL shares will profit from this development. I don’t have to use enchanter skills to imagine that LHH has some potential through the volatility of this market and the rather promising outlook for HCL shares. As a matter of fact LEM finds itself in a most paradox situation. If HCL will rise LHH shares will follow and highest share values for HCL will be frozen for our LHH investors. You can see this with a laughing eye, however, for us it is more a question to overcome possible nightmares caused due WSE-Lemurs from Roman mythology…lol.

Let us explain this with an example. The lucky investors among you who bought LHH at IPO prices (1 $L/share) can already count to get 3.67 $L/share back on 15th March 08. Not a bad performance in six months…! Imagine now if HCL would climb to new highs like 3 or even 5 $L/shares. The pay back ration would then increase approximately to 4 or even 7 $L/share!

So LEM can only wish you more happy trading in both HCL and LHH and for us an exploit in risk management.

Statistics for HCL shares (period before):
Average share price in last 30 days: 0.98 (1.18) $L/share
Minimal share price : 0.78 (0.48) $L/share
Maximal share price : 2.63 (2.63) $L/share (2.66 as indicated is a rounding bug which got noticed by WSE as such)
Max. daily volume : 147’557 (353’321) shares
Min. daily volume : 100 (8’150) shares

Statistics for LHH shares:
Actual share price (24h): 2.24 (3.41) $L
Minimal pay back price: 3.674 (3.674) $L

LEM wishes you a merry Christmas and a successful New Year

Greetz

Casper Trebuchet
LEM, CEO
House of derivatives (LFB, LWI, LHH and LEM Knock-In WSEIndex/LEM IPO Booster 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 (passed on 26th October 2007)
LHH IPO issue price : 1 $L
HCL = 2.63 $L (status at 14th November 07)

pay back = HCL/ HCL spot * LHH IPO

minus management fee of 5%.

LWI : Business report (NOV-DEC)

2007-12-18T08:13:00.001+01:00

Situation didn’t change considerably since last month. However, the cleaning process of the outstanding IPO’s was concluded by WSE and the release of WSE 4.0 is approaching as rumors go. LWI didn’t move but an exploit is still possible and rather likely with all projected new WSE activities coming up.

The LWI10-index stands at 807.18 today which is a decrease of 10% since last month with 872. However, we also have to consider that three titles left SPO and are traded past-SPO. DDE, HUI and also LEM are traded much beneath their NTA. As dividends are paid in a regular matter, all these titles will soon take off again.

We remind you that break-even is only reached if the index climbs over 1000. Compare also with the mathematical formula we give in our prospectus.

With an actual index of 807.18 you can only expect to get 0.95 $L back per LWI share on 18th January 2008.

symbol, spotprice(S), dividends(D), 24 hr average price(Y), branch, LEM:rating
==============================================================================

RDX, 3.19, 0.038, 0.99, technology
DDE, 3.72, 0.512, 2.84, real estate, STRONG BUY
ETC, 0.92, 0.01, 0.94, environmental services
HCL, 1.84, 0, 0.95, financial services, BUY
HOT, 2.95, 0.434, 2.18, financial services, BUY
LEM, 1.6, 0.22, 1.28, investment banking
LGO, 0.81, 0.03, 0.55, technology
LLL, 1.87, 0.508, 1.77, construction
HUI, 2.48, 0.386, 1.95, technology
ALL, 2.55, 0.253, 1.52, real estate
(LWI10) 807.18 (872.19) 18DEC07(18NOV07)

As always the index can be followed in real time on http://www.slquotes.com/lemur or on our blog.

Greetz

Casper Trebuchet

LEM, CEO
House of derivatives (LFB, LWI, LHH)
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

LEM. Company update

2007-12-17T09:03:00.000+01:00

Dear investors

End of 2007 is approaching which let us rethink our company strategy as we sit on too much cash and don't plan to use banking services intensively…We have to accuse you investors for having brought us into such an uncomfortable situation – but we don’t complain and we haven’t planned yet our holidays to the big Island …;-) …just more work.

LEM generates regular profits (dividend = 0.045 $L/share) and its NTA (3.4 $L/share) is growing. But to apply some Kanzai management doesn’t hurt… Strategical changes we see in six directions for 2008: Use of capital, real estate, trading, RL projects, buy back program which should bring LEM to a new development level plus put an eye of growth of expenditures.

The six directions in more details:

(a) Financing SL projects: We still have two IPO waiting for their approval. One is a derivative with PUT character (LEM Knock-In on WSEIndex (LPI)) and the second a so called IPO booster (LPB). LEM strongly believes in LPI which is a good security tool in relation to volatile markets. LPB on the other hand is an important initiative to bring innovative IPO faster successfully on the market. LEM will allocate assets worth 2 million $L into it which should be a strong argument to bring this IPO through the approval phase.
(b) Real estate: LEM sits on too much cash right now. Real estate is not our core business but can be an additional market we want to explore. LEM already possesses major stakes in DDE, RDX, HOT which basically are real estate companies but these commitments are participations only. LEM continues to invest into such business as long as the ROI and long term perspectives are ok for us. However, we also would like to start investing in own property. A co-operation with an experiences land owner/manager is in discussions others may follow. At the moment roughly 1.2 million $L is directly invested into real estate over listed companies which is an equivalent of 15% of all assets LEM owns actually. We see this portion rising to 25% next year.
(c) Trading: Trading was successfully till now, but it is limited though personal input staff can put into it. LEM will keep trading in on a healthy and profitable level but can hardly increase it any more. Trading with 10’000 $L is one thing with 7 million something else…lol
(d) Real life projects: We started to do some work in SL for RL companies which already resulted in returns, however, this is a bit tricky also from a legal point of view (VAT, etc.).. LEM thinks SL is SL and RL is RL. However, there are ways to bring those worlds together. 3D-Web applications, exploration platform, extended marketing environment are just some key words how SL could be used for RL. LEM is working already on its new web and will try to consider such aspects. In 2008 we hope to reserve more time to such business development idea and develop new ones. We also strongly believe in the open source perspectives of SL.
(e) LEM share price: We got the approval from WSE to trade our own shares. LEM is interested to see its share price oscillating in a certain range. In first order we let the market define the share price but will intervene if we think the share price is too low or too high. If too low we will purchase shares and possibly destroy them over buy back option. In the latter case we will bring own shares on the market but keep a majority of 50.1%.
(f) Expenditures: Enough is enough

LEM thanks you all for all your support through 2007. Without our customers we couldn’t have achieved what we have achieved and we strongly hope that we can continue doing business together in 2008 as we did in 2007. Let me wish in the name of LEM a merry Christmas and only the best for 2008

Greetz

Casper Trebuchet

LEM, CEO
House if derivatives (LFB, LWI, LHH)

http://lemurinvest.blogspot.com

LFB: Dividend and report for November 2007

2007-12-08T08:51:00.001+01:00

The weekly average of the basket is again low with 38.84. However, three elements have to keep in mind. First: WSE 4.0 should be released soon which should bring new momentum in HLC and linked to this HCL is slowly stepping towards the 2nd February where the next dividend payment should be occur. Second: RDX announced an interesting share transformation program which is in the interest of the common shareholder. This program should be executed in the next coming months and will bring nice dividends and also awareness in regard to the growth potential of this company. Third: The partnership in between APZ and SLM seems to be fructose. The SLM share will surely get some support due to the potential which is still mostly unexplored in this partnership. As only a little improvement is needed to break the trend for LFB we keep optimistic. At actual prices LFB still has a ROI of over 50% pa.
>>>>>
Situation on 5th October 2007 for LFB (compare also with our blog or prospectus):

HCL = 0.98 (1.28) $L, weight =20
RDX= .87 (1.06) $L, weight =20
SLM= .46 (0.79) $L, weight = 4

Weekly basket value = HCL*20 + RDX*20 + SLM*4 = 38.84 (49.46)

Average basket value (8th June-5th December) = 51.93
Spot basket value on 8th June = 73.76
>>>>>

Keep in mind that HCL was already at 2.63 $L two month ago and even higher in spring 07 and the volumes on WSE rebounded powerful after the summer depression what will generate profits to HCL.

If shares of HCL or RDX would only climb 0.85 $L the value of the basket would bypass the value from the spot=73.76 and the shareholder would get a higher dividend.

The minimum dividend of LFB is 0.2 $L/share/month and was paid just before. However, a maximum dividend of 0.7 $L/share/month is feasible if the basket performs.

Greetz

Casper Trebuchet

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

SPO off - LEM traded again

2007-12-07T00:37:00.000+01:00

The deadline of our SPO was reached yesterday. Also we didn’t sell all shares we wanted to thank you sincerely for your commitment. We really appreciate and were a bit surprised by the amount of shares we could sell.

LEM sold 210‘869 shares which brought 316‘304 $L in our treasury. This money will be invested in accordance with our investment strategy which is described in our prospectus.

LEM also would like to make you aware of the fact that WSE approved our request for trading our own shares. We will use this new freedom to keep our shares in a certain healthy range but will keep in any case a majority of all outstanding shares.

Greetz

Casper Trebuchet

LEM, CEO
House of derivatives (LFB, LWI, LHH)

http://lemurinvest.blogspot.com

LEM - Financial report (November 07)

2007-12-03T22:08:00.000+01:00

Summary
=================================================================================
NAV sank in November 2007 slightly from 3.506 to 3.44.
Net profitability of equity after dividend rose to 10.07% /month (7.06%)
Dividend is 0.045 $L /share/month

This month was characterized through a lot of movements. We cancelled our loans and reduced our debts in consequence. Profits out of these actions were added to regular financial products.

The NAV reduced its value slightly as SPO was running satisfactory and diluted its value. This capital will serve to be invested in sustainable business in SL and will contribute to further growth.

Trading was good and we earned 241089 $L with almost no losses.

We put again some focus on our analysis work. A report on ALC was published by Miles Market, our chief analyst. He will soon start a survey among listed companies on WSE in relation to his thesis he is writing in RL. We will inform you separately about this important project.

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.

Dividend was left at 0.045 $L.

Results for October (September)
================================================================================
Income ($L):
------------
Financial products : 280’581 (213'219)
Others : 15’825 (41'825)
TOTAL : 296’406(255'044)

Expenses ($L):
--------------
Financial Products : 101’500 (124'600)
Donation : 0 (0)
Tier : 6’000 (6'000)
Wages : 10’000 (10'000)

TOTAL : 117’500 (140'600)

Profit ($L) : 178’906 (114'444)

Asset ($L)
----------
WSE : 4’571’356 (4'081'959)
SLCX : 848’463 (961'797)
DSE : 62’105 (64’940)
ISE : 27’986 (43'665)
Land : 6’000 (6’000)
Loan : 0 (3’000’000)
Cash : 251’053 (164'022)
Investment : 15’000 (14'000)

Total : 5’806’963 (8’346'883)

Liabilities ($L)
----------------
Loan : 0 (3'000'000)
Dividend : 84'154 (87’500)
Total foreign capital : 84’154 (3'087'500)

Constitutional capital LEM: 1’663’641 (1’500’000)
Constitutional capital LFB: 464’480 (464’480)
Constitutional capital LWI: 130'026 (130’026)
Constitutional capital LHH: 1'671'590 (1'671'590)
LEM Future Fund : 520’000 (518'000)
Reserves : 1’094'166 (860'843)
Profit : 178’906 (114'444)
Total equity : 5’722’809 (5'259'383)

Total liabilities: 5’806’963 (8’346’883)

Monthly dividend/share : 0.045 $L /month (0.045)
NAV 3.44 (3.506)

Notes:
========================================================================
(1) General: LEM thinks that titles on WSE finally found a stable evaluation level. Companies restart to pay dividends and publish promising financial reports. The IPO list was recently cleaned and together with the new listing criteria a good basis is established to stimulate further growth. Rumors say that WSE 4.0 will be released in mid December. This will further stimulate traffic and volumns at WSE.

(2) Consultancy work was down this month. We simply had no time at disposal as we were very taken by RL. However, still different projects are in our product pipeline.

(3) LFB: The index is still losing as HCL and RDX are still weak. However, in both titles we see further growth possibilities. At actual prices of 8 $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 to interest of 7%/month.

(4) LWI:WSE is now down to 10 titles and the index down to 20% in relation to 18th July. However, different titles on the index still were going through their SPO which is reducing the index artificially. We judge that it reach break even this month. Values in real time can be followed in a chart on our blog http://lemurinvest.blogspot.com

(5) LHH:WSE. No changes. Buy back value is still 3.67 $L/share. When will HCL reach a new record and thus LHH too?

(6) LEM Foundation. We will further invest in Etopia Island to support their sustainable efforts. A new SIM will be purchased which will partly be financed by a contribution of LEM. It will be operational in short time. 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 1.20 $L which is an increase of 20% since its creation.

8) LEM IPO Booster (LPB) : A new IPO we set up. Objective is to concentrate our analytical activities here as well as to select and support promising IPO to go quicker through the IPO phase and help them to achieve their goals as fast as possible. Have a look at the prospectus and RATE LPB!

9) Web: The web development is postponed for the moment. Hope towards New Year we will be ready with.

10) Defamation: LEM learned that is only too easy in SL to defame competitors in order to harm their business or reputation as RL courts don’t yet really consider slander and libel in SL. On the other hand SL and RL start to mix up in each other more and more which is quite horrible if you think on the consequences. Because of this we created a help group in SL “anti slander and libel group”. In doing so we opened files on known libelers in order to collect facts. You can join or ask me for further information.

Net profitability of equity after dividend is 10.75% /month
Dividend is 0.045 $L/share/month

Next report:
===================================================================================
Next report will be published on January 2, 2008. Updated 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
Analyst, WSE

House of derivatives (LFB, LWI, LHH, LEM IPO Booster as not yet approved IPO at WSE)
http://lemurinvest.blogspot.com

LEM - dividend paid

2007-12-01T07:01:00.000+01:00

A dividend of 0.045 $L/share was paid as announced.

The financial report for november will follow on 3rd december.

Greetz
Casper Trebuchet

LEM, CEO
House of derivatives (LFB, LWI, LHH)

http://lemurinvest.blogspot.com

ANTI Slander and Libel group- blog created

2007-11-26T16:52:00.001+01:00

We created a blog to discuss such issues which hopefully will help to prevent further slander and libel attacks or give helpful information to potential victims

http://slanderandlibelinsl.wordpress.com

ANTI slander and libel group is a non profit organisation

Greetz

Casper Trebuchet

Anti slander and Libel group

2007-11-25T17:41:00.000+01:00

Defamations or “slander and libel” issues become more and more common in SL. Avatars import RL concepts into SL which include work, money, time and innovation. The boundaries between SL and RL start to vanish and thus new theories need to be developed how the law may apply to and resolve disputes in this cyber world. Defamation are a good example for such disputes as they became important lately and apparently continue to grow.

SL is based in California, USA and basically covered by the law of this state. However, as soon as SL and RL start to mix up a complexity is added as different country jurisdictions need to be considered which may vary significantly from each country to another.

However, it is important to realize that each defamation campaign creates victims. This is why we created a anti slander and libel group in SL in order to establish a knowledge database on defamation and provide first help to avatars which got victims of such attacks.

This involves:
Law advice - the more information we collect the better is the advice
Investigation - done by RL specialists understanding the problematic
Moral support – slander and libel attacks are very unethical strategies
Strategy development – help the victim to define a strategy
Anti slander support – be intermediary and initiate media support

The group can be found in SL under "anti slander and libel group"

Membership is free. Join or IM me if your are interested.

it is a small start but we hope can devleop some momentum, unfortunately I have to add, as a cyber world without defamations would definitively be more fun... also not very likely

and so there are two possibilities. Either there is nobody who is interested in this defamation subject which would mean that there is still some hope that SL is a "perfect" world or there is interest and then at least a discussion could start which may guide to some solution...I'm kidding of course

Greetz
Casper Trebuchet

LEM, CEO

http://lemurinvest.blogspot.com

IntLibber again

2007-11-24T19:50:00.000+01:00

this time from myself.

Our abuse report to LL was sent.

Greetz

Casper Trebuchet

answer from IntLibber to Meryll Lynch

2007-11-24T19:49:00.000+01:00

Response to Merryl Lynch's accusations:

a) I never slandered Merryl Lynch, in fact I attempted to work with her/him/whoever, when Luke was busy banning and slandering Merryl for being outspoken against the draconian abuses of Luke (which included Luke denying Merryl's IPO for no reason, as well as denying an IPO Merryl had written for Shatter Roundel, one of my own residents).

b) I have openly admitted that I was grossly decieved by Luke and his lies to me about Anshe Chungs intentions with Shaun to, as Luke said, "buy out Shaun for 150k US to take over WSE" (I have the chatlogs for anyone to browse). Luke lied to me and used me to convince others, and used the deal he sought with me over the WTC as a shield for issuing himself massive amounts of HCL stock. I find it rather odd that Merryl would now be in Lukes pocket.

c) I have also openly stated that if Casper Trebuchet can identify himself to us, as not Jasper Touchet, then we will retract our statements. He has so far refused to do so, so we wonder what is being hidden. I have been given information that he is this person, however if those allegations are false, we will retract them. As I've stated, we've been lied to before (by Luke) and we've admitted when we've been decieved.

It is often hard to tell who is telling the truth in SL, all we can do is try to determine the truth as best we can. Those who stand openly identifying themselves tend to be more trustworthy, if Casper wishes to stand openly and be identified, then that is fine. Our information is that Jasper Touchet is still involved at WSE. He has refused to settle his RL debts (this was a contract in USD, not L$, so therefore does not count as "just a game" even under the loose rules of WSE).

One thing we do know for certain is that LukeConnell DOES know who Jasper Touchet is, but he is, like any thief, extending professional courtesy in keeping his identity secret. We challenge Luke to likewise open up with the truth.

slander-casper -trebuchet-a reaction from Meryll Lynch

2007-11-24T19:48:00.001+01:00

IntLibber Brautigan is again stepping up a slandering campaign. Here is the link:

http://ancapex.net/home/story/system/54

All my friends know, I am Swiss. Some came to see me in RL Zurich, Switzerland. Amongst them casper Trebuchet.

Since I was myself a victim of a slandering campaign of IntLibber Brautigan, when he still was one of the best buddies of Luke Vandeverre, I know what damage this can do.

What we can learn about IntLibber Brautigan is, that he is obviously often wrong, like he was with Luke. Slandering seems to be IntLibber Brautigan's favorite activity. This time though, it looks like last resort. Last.

With his slander against casper Trebuchet he is about to break his neck finally.

Casper is a friend of mine from Switzerland. I met him personally. I own a RL business card of casper Trebuchet (of course with his real name and real business address). We email between our RL email addresses. We even do phone calls between our Swiss phone numbers.

I can proof, casper Trebuchet is all but from Canada.

Conclusion:

IntLibber Brautigan claims to have tracked casper Trebuchet down to avatar JC Brink, from Montreal, Toronto, and Arkansas. That way accusing him of stealing USD 8000.- - this is slander pure and extremely damaging for casper Trebuchet.

Again - IntLibber Brautigan is totally wrong (and I am sure knowingly he slanders casper Trebuchet - because casper Trebuchet is still working together with Luke Vandeverre and as we know Luke is the target IntLibber tries to damage). And luckily he discloses his RL identity as sales argument for his shady companies. It will thus not be problematic, to track IntLibber Brautigan down RL and sue him for damages done by his slandering campaign.

Be aware, that a RL lawsuit against Michael Lorrey aka IntLibber Brautigan, from Grantham, New Hampshire is immanent.

Lets see, where he takes the money from to settle for the damages caused. This time he will not escape!

All investors shall take this as a warning.

Thank you for your attention!

Meryll Lynch

This IntLib(b)er

2007-11-24T07:10:00.000+01:00

The strange message below was just published on www.ancapex.com. Unbelievable what we have to endure in this SL..its a kind of playing law and order the wild way.. Choose an avi you don't like what kind of reason doesn't matter and then acuse him of something and put some propaganda behind.. is life such easy in SL

the message was..

=============================================================================
“MARKET WARNING: Lemur Invest CEO Fraudster
It has come to our attention that the CEO of Lemur Invest (WSE: LEM) is Casper Trebuchet, aka JC Brink. Casper Trebuchet borrowed $8000.00 US in June from My Second Bank to purchase his Commerce sims. When his bank was "frauded", he gave the sims to Lindsay Druart, rather than to the lien holder, M2B, and bailed on his debt to M2B. Now that M2B is BNT Financial, we intend to pursue foreclosure upon LEM for its CEO's debts to BNT.

BNT has repeatedly attempted to contact Casper Trebuchet, tracking him to Montreal, Toronto, and Arkansas as he has skipped out on creditors. Investors are cautioned against investing in a known thief. If Casper Trebuchet wishes to settle his debts with BNT Financial, we encourage him to contact IntLibber Brautigan soonest.”
=============================================================================

Well, what should I say, IntLib(b)er apparently doesn’t like me too much, and Lemur kattas are such cute animals…lol

However, there is a slight problem. First I’m not JC Brink even not aka. Second it makes no sense to track me in Montreal, Toronto and Arkansas as I’m Swiss and also pretend to live in Switzerland, sorry also for my Swiss-Lindenspeak. Third, also I’m living in Switzerland which is famous among others things for its banking systems I never owned a bank and probably will never own one as this business is not of my like, also I know the business quite well because of professional reasons in RL. Forth Switzerland is a country of renters only 30% live in their own “castle”. I do but sorry, I never owned any SIM in SL and even dont have a premium account...lol. Fifth Casper Trebuchet never was contacted by BNT, except last night with the following messages:

IntLibber Brautigan: (Saved Fri Nov 23 22:24:07 2007) I'd like to give you a chance to settle your debts with M2B.
[21:34] casper Trebuchet: what?

So what the hell is this? The outburst of a US Marshal with his colt and firing around..if you hit 1000 people may be also the bad person is among them...not funny this.

If IntLib(b)er is running his business that way, well this is his problem, to accuse others without even undertaking any research before and or speak before with the person in question…how should I interpret this …yuck

And oh, I forgot, WSE:LEM? You can read about on my blog or speak with my shareholders/clients at any time….

People like this IntLib(b)er are a thread for SL.

I expect an excuse

Grrrretz

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

LWI - business report

2007-11-19T22:11:00.000+01:00

The reviewing progress of listed companies at WSE continued and caused us to redefine our index. With 51 listed companies we decided to reduce our index down to 10 titles. However, we still plan as soon as possible to increase this number again up to 15 which we consider to be a fair minimum to simulate the market. Quite a few new IPO’s are waiting to get their approval. Together with the approaching release of WSE 4.0 we are optimistic to see LWI soon reaching its break even.

The restructuring resulted in an increase of the index. It stands now at 872. With some titles still in SPO we possibly will see further increases. However, we remind you that break-even is only reached if the index climbs over 1000. Compare also with the mathematical formula we give in our prospectus.

Share prices for LWI recently rose up to 79 $L because of some strange activities- reason that we asked WSE to halt trading. With an index standing at 872 investors can only expect to get 0.95 $L paid back per LWI share on 18th January 2008. Even if we anticipate bullish share values till then we think that actual share prices of >10 $L are rather optimistic.

Trading will resume in short time.

symbol, spotprice (18JUL), dividends, 24 hr average price (19NOV), branch, LEM:rating
=====================================================================================

RDX, 3.19, 0.038, 0.92, technology
DDE, 3.72, 0.432, 2.75, real estate, STRONG BUY
ETC, 0.92, 0.01, 0.97, environmental services
HCL, 1.84, 0, 1.18, financial services, BUY
HOT, 2.95, 0.379, 2.56, financial services, BUY
LEM, 1.6, 0.175, 1.50, investment banking
LGO, 0.81, 0.03, 0.51, technology
LLL, 1.87, 0.508, 2.00, construction
HUI, 2.48, 0.285, 2.00, technology
ALL, 2.55, 0.206, 2.16, real estate
(LWI10) 872.19

As always the index can be followed in real time on http://www.slquotes.com/lemur or on our blog.

Greetz

Casper Trebuchet

LEM, CEO
House of derivatives (LFB, LWI, LHH)
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

LWI - trading halt

2007-11-18T22:14:00.000+01:00

Because of unusual trades and major changes in LWI we will apply but which are in favor of LWI shareholders we asked WSE to halt trading in LWI shares.

Trading will resume as soon as our monthly reporting will be published which hopefully will be tomorrow on 19th November 07. We hope you understand.

Greetz

Casper Trebuchet

LEM, CEO
House of derivatives (LFB, LWI, LHH)

http://lemurinvest.blogspot.com

LHH: Business report (15OCT07-14NOV07)

2007-11-14T18:33:00.000+01:00

HCL shares traded in a stable range between 1.12-1.45 $L during the last four weeks and saw an upper peak at 2.63 $L. Lucky investors who bought LHH at IPO prices as the calculated pay back price rose up to 3.67 $L/share which is an increase of 367%.

The concentration process continued at WSE and volumes increased significantly. We wonder when WSE will lift their secret about WSE 4.0 but almost sure that this event will leverage the stock exchange market to new levels. HCL shares will profit from this development in the mid- and long term.

Statistics for HCL shares (period before):
Average share price in last 30 days: 1.18 (0.56) $L/share
Minimal share price : 0.48 (0.22) $L/share
Maximal share price : 2.63 (0.88) $L/share
Max. daily volume : 353’321 (600’000) shares
Min. daily volume : 8’150 (12’000) shares

Statistics for LHH shares:
Actual share price (24h): 3.41 (0.84) $L
Minimal pay back price: 3.674 (0.78) $L

Greetz

Casper Trebuchet
LEM, CEO
House of derivatives (LFB, LWI, LHH and LEM Knock-In WSEIndex/LEM IPO Booster 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 (passed on 26th October 2007)
LHH IPO issue price : 1 $L
HCL = 2.63 $L (status at 14th November 07)

pay back = HCL/ HCL spot * LHH IPO

minus management fee of 5%.

LWI - illegal transactions...new results

2007-11-12T17:50:00.000+01:00

Hello, looks as I overdid with this money laundering stuff, however, if illegal transactions are involved it is worth to be attentive and recently stories circulated about money laundering on another stock exchange..so...

But I guess SL is less imaginative and criminal yet, probably as the figures we speak about are in the lower digits… in exception of some penny thefts…yuck

The case I described was probably more an attempt to apply a pump-and-dump or chop stocks strategy to spread false information or signs in order to make a deal. Well, if you buy for 1.11 and can sell for 5.99 you really make a nice profit..in RL this is illegal in SL probably a kind of sport.

However, be assured that I keep an eye on my titles. I will take actions if I see similar things happen ..

For LWI the situation is more than clear. I agree it is penny share and has a very limited float. Both are dangerous factors to facilitate such strategies. But LWI is linked to the index LWI15 we calculate and which chart can be found on our blog http://lemurinvest.blogspot.com. It produces values in real time. Chart figures simply don't lie for LWI.. There is absolutely no reason why suddenly LWI should be traded 6x over its inner value.. For our other titles the situation is similar: LFB, LHH or LEM.

So my advice:

Before you buy or sell study the announcements, the prospectus and the market itself and then use your brain AND ASK QUESTIONS. I generally don't bite just beat from time to time...lol

Greetz

Casper Trebuchet

LEM, CEO

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

http://lemurinvest.blogspot.com

LWI - Strange things happen

2007-11-10T17:41:00.000+01:00

We can speak about the real value of LWI:WSE of course...as already mentioned before at actual values LWI is massively overvalued.

If you consider the formula I give in the prospectus of LWI you can only expect to get 0.95 $L /share back at the end of the period (18th January 2008) if you neglect the possibility that the index still may grow. However, actual share values are at 14.92 $L ! I leave it to you to come to a conclusion.

But there is something else I wanted to speak about. Today LWI had a volume of 21000 shares which mainly consisted in a trade where somebody bought 3650 shares repeatedly and sold them again (I suppose it was the same person as always the same number of shares were traded). He bought them for 6 $L and sold them for 1.11 $L in other word distroyed around 100'000 $L.

Well, unfortunately I don't have access to the raw data. But I really wonder as I think there must be a reason behind. Money laundering? We saw recently similar trades on CAPEX, also in a bigger scale. The amount we are speaking about is still small on the other hand if you do similar trades with other titles the situation becomes different.

Any kind of money laundering would be a worst case scenario for any stock exchange market within SL. So If somebody has a good explanation then please tell me as I really wonder. If it is money laundering we really should be careful about as it would be a question of time till RL would start to take some legal actions. I dont't think this would be fun for all of us.

Greetz from still the best of all worlds

Casper Trebuchet

LEM, CEO

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

LFB: Dividend and report for October 2007

2007-11-07T21:53:00.001+01:00

The weekly average of the basket is still low with 49.46 but comes close to the one calculated since 8th June 06 (=55.73). There is just a slight improvement needed for HCL and/or RDX and the trend for LFB is bullish again.

>>>>>
Situation on 5th October 2007 for LFB (compare also with our blog or prospectus):

HCL = 1.28 $L, weight =20
RDX= 1.06 $L, weight =20
SLM= 0.79 $L, weight = 4

Weekly basket value = HCL*20 + RDX*20 + SLM*4 =49.46

Average basket value (8th June-5th November) = 55.73
Spot basket value on 8th June = 73.76
>>>>>

Keep in mind that HCL was already at 2.63 $L last month and even higher in spring 07 and the volumes on WSE rebounded powerful after the summer depression what will generate profits to HCL.

RDX also has some potential, especially if they start to execute their new ownership program which they announced this week.

If shares of HCL or RDX would only climb 0.6 $L the value of the basket would bypass the value from the spot=73.76 and the shareholder would get a higher dividend.

The minimum dividend of LFB is 0.2 $L/share/month and was paid just before. However, a maximum dividend of 0.7 $L/share/month is feasible if the basket performs.

Greetz

Casper Trebuchet

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

LEM -SPO at WSE

2007-11-03T10:22:00.000+01:00

LEM want to expand its business into further not directly real estate related business in SL with high profitability.

Over a SPO at WSE we want to rise additional money and create 500'000 additional shares.

For the shareholder this means higher dividends and also a higher free float as LEM would only control 50.1% of its own shares.

LEM has a NTA of 3.506 $L/share (compare with financial report) and 1'500'000 outstanding shares right now.

The SPO will increase the number of outstanding shares up to 2'000'000.

The SPO price we see at 1.5 $L /share

Casper Trebuchet

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

LEM: Financial report (October 07)

2007-11-01T18:00:00.000+01:00

Summary
=================================================================================
NAV rose in October 2007 from 2.406 to 3.506.
Net profitability of equity after dividend is 7.63% /month
Dividend is 0.045 $L /share/month

LEM continued to develop its business and received as first company in SL the approval as analyst for WSE. Different analysis were made during October (DDE, HOT; RDX; HCL) others will follow. We also created a new IPO which actually is waiting to get its approval (LEM IPO Booster: LPB): LPB will work exclusively for start-ups and support them not only to pass the IPO barrier more easily but also to bring them successfully into the market.

LEM traded successfully. Unfortunately most of the companies didn’t resume dividend payments we are invested in or will do this in the following days. These figures will add to the next result.

Consultancy work was good, but couldn’t be expanded due to lack of avatarpower.

A big surprise to us was our newest derivative - LHH. As HCL touched 2.63 $L per share during the last 4 weeks the calculated value for LHH climbed up to 3.67 $L which is an increase of 367% since the end of the IPO! However, LHH has also a boosting effect on our liabilities. We also can see this development with a laughing eye, as if HCL find back to the high values it had before this can be interpreted as sign that investors gain back confidence… Our other derivative LWI which is an index of 15 selected shares which are traded on WSE shows a similar bullish tendency. It gained 25%.

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 0.045 $L.

Results for October (September)
================================================================================
Income ($L):
------------
Financial products : 213'219 (428’744)
Others : 41'825 (62’000)
TOTAL : 255'044 (490’744)

Expenses ($L):
--------------
Financial Products : 124'600 (425'000)
Donation : 0 (0)
Tier : 6’000 (6'000)
Wages : 10’000 (10'000)

TOTAL : 140'600 (441’000)

Profit ($L) : 114'444 (49'744)

Asset ($L)
----------
WSE : 4'081'959 (2'503'717)
SLCX : 961'797 (867’377)
DSE : 64’940 (62'000)
ISE : 43'665 (16'425)
Land : 6’000 (5’000)
Loan : 3’000’000 (3’000’000)
Cash : 164'022 (733'190)
Investment : 14’000 (14'000)

Total : 8’346'883 (7'201’709)

Liabilities ($L)
----------------
Loan : 3’000’000 (3'500'000)
Dividend : 87'500 (95’000)
Total foreign capital : 3'087'500 (3’595’000)

Constitutional capital LEM: 1’500’000 (2’000’000)
Constitutional capital LFB: 464’480 (1’000’000)
Constitutional capital LWI: 130’026 (430’026)
Constitutional capital LHH: 1'671'590 (454'941)
LEM Future Fund : 518’000 (498'000)
Reserves : 860'843 (509'518)
Profit : 114'444 (49’744)
Total equity : 5'259'383 (3'606’709)

Total liabilities: 8’346’883 (7'201'709)

Monthly dividend/share : 0.045 $L /month (0.045)
NAV 3.506 (2.406)

Notes:
========================================================================
(1) General: LEM assets developed nicely, mainly driven by HCL but also through the other shares we are holding. We also have to consider the new fund of frauded companies –WTF- which brought back some of our “depreciations”- thank you Luke. The fact that Ginko failed is surely not fun for all the victims- especially those who sold their shares for low prices- however, it is a huge relief for WSE. Together with WSE 4.0 which development will come to an end soon we see a lot of potential for WSE and finally also for the WTF share holders. – I cannot stop to be optimist…lol

(2) Consultancy incomes are not stable. A matter of personal time we can invest as we also have a RL. VAT issues still don’t hamper us and different projects are in the pipeline.

(3) LFB:WSE recovered a bit, thanks to HCL. We dropped AIG, BNT and AMA from the index which leaves us with three titles HCL, RDX, SML. At actual share prices of 7.42 $L LFB has a profitability of >50% p.a.. At the moment the Index couldn’t really improve because we use weighted averages to calculate it which is slowing down the increase. On the other hand, if HCL continues to climb and RDX finally decides to reduce outstanding shares to do something for the NTA which is only 0.2 $L the momentum will soon be high again and interests of 7%/month still possible.

(4) LWI:WSE got reduced to 15 titles and found back to the bullish track. It increased 25% this month. We definitively feel that the economy in SL start to grow again.

(5) LHH:WSE beats all records. 367% increase within 4 weeks! Responsible was HCL which rocketed to a new 90 days high with 2.63 $L per share. The calculated value for LHH climbed up to 3.67 $L which is an increase of 367% since the end of the IPO! Logically also our liabilities rocketed to new highs which can easily be seen in our balance sheet. However, we are backed up by our reserves and HCL shares of course.

(6) LEM Foundation. We increased our presence on Etopia Island which is filling fast. Also we are not land owners we hold shares through our LEM Foundation. LEM will resume sponsoring of LEM Foundation and their projects.

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 1.13 $L which is an increase of 13% for the last three weeks.

8) LEM IPO Booster (LPB) : A new IPO we just set up. Objective is to concentrate our analytical activities here as well as to select and support promising IPO to go quicker through the IPO phase and help them to achieve their goals as fast as possible. Have a look at the prospectus and RATE LPB! We are also happy to have won Miles Market as Chief analyst. He is a financial expert in RL as well as SL and specialized in gaming and real estate.

9) Web: The web development is postponed for the moment.

Net profitability of equity after dividend is 7.63% /month
Dividend is 0.045 $L/share/month

Next report:
===================================================================================
Next report will be published on December 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
Analyst, WSE

House of derivatives (LFB, LWI, LHH, LEM IPO Booster as not yet approved IPO at WSE)
http://lemurinvest.blogspot.com

Stock market anaylsis

2007-11-01T17:51:00.000+01:00

Miles Market joined our team as Chief Analyst. He is a financial expert in both worlds - RL and SL. He will reinforce our analysis work in gaming and real estate activitites. LEM is very happy to have him won to complete our team and wishes him a lot of success, satisfaction and fun in his work.

Casper Trebuchet

LEM, CEO

Market research : ALC

2007-11-01T17:49:00.000+01:00

Outstanding shares: 20,600,001
Net Tangible Asset: L$0.272
EPS: L$0.004
P/E Ratio: 333.80
Monthly Revenue: L$673857.00
Monthly Expenses: L$581905.00
Monthly Earnings (Net Profit): L$91952.00

The land barons are dead, long live the land renting (but for how long)! I discussed this issue and a few more with Hannibal Kennedy CEO of Atlantis Land Corporation (WSE:ALC). First of all I’d like to begin with the business idea. ALC differentiates itself from the larger competitors, such as Anshe Chung’s Dreamland, through intense contact with its customer base. Many of them long term customers and happy with ALC’s ability to quickly resolve problems which might appear. The land renting market is not growing at its breathtaking rate anymore (some say it’s contracting), so there is a need to bind customers long term. This is what ALC wants to do, focus on its core competence, offering high quality renting space for reasonable prices with above average customer support. ALC does not want to diversify in other areas, such as land trading etc.
Until now ALC does not use big marketing campaign to acquire customers, they use classified ads sometimes, most of the new customers find their ALC property over the search and land sale tools in SL.

Let’s go further, look inside the ALC financials. I’ve estimated the cash flows for the next 12 months, and discounted those with 15% discount rate (risk free rate +market premium + SL specific premium) I know it’s quite a low assumption for a SL company, but let’s stick with it. For the October estimate I took the May 07 – Sept 07 average, it’s roughly L$ 184K. Now I projected a grow rate m/m of 2.5%. So I received the discounted cash flows for this period. Then I took the Oct 08 figure to calculate the residual value. Residual value and those discounted cashflows resulted in the fair value of ALC which is roughly L$ 16.9 Mio. Or L$ 0.82 per share.

Now this is one piece of the puzzle, another is the book value. All sims are valued at L$ 10.— per sqm, if you have a look at the linden stats - average land prices (from sales) are in the region of L$ 6.2597 per sqm (beginning of October to date). If you calculate the difference with the land that ALC owns, you get a not realised loss of L$ 1.96 Mio. or L$0.095 per share. So is your money at risk? The million dollar question is at which value were those sims bought, I have the figures form the oldest 5 sims, they were bought (combined at USD/L$ 270) at L$ 6.02, this is all money from Hannibal Kennedy. The 2 sims which were bought in May were valued at L$ 6.8874 – loss of L$ 82,279.--. And the last sim was valued at L$ 6.8008 – loss of L$ 35,463.--. That makes a total unrealized loss of L$ 117’742.--. This is not that much but with invested capital (from shareholder side) of roughly L$ 300K and dividends received of 4% or L$ 12’000.— an investor shouldn’t ignore it. It depends all on how the losses will be distributed in the future.

Another major issue is the looming opening of the server code. If the server side goes open source, hosting won’t be monopolized anymore and so server rent prices will fall rapidly, with them the value of the land. So think about it…

Rating Hold

Miles Market

LEM, Chief analyst

House of derivatives (LFB, LWI, LHH and LEM IPO Booster as not yet approved IPO)

http://lemurinvest.blogspot.com

Dividend LEM: posted

2007-10-31T14:08:00.000+01:00

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!

2007-10-27T17:50:00.000+02:00

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!

2007-10-26T06:08:00.001+02:00

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

2007-10-24T17:31:00.000+02:00

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!

2007-10-23T23:20:00.001+02:00

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

2007-10-20T08:06:00.001+02:00

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

2007-10-20T07:30:00.000+02:00

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

2007-10-19T21:56:00.001+02:00

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

2007-10-15T15:54:00.000+02:00

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

2007-10-13T23:00:00.000+02:00

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

2007-10-13T22:57:00.000+02:00

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

2007-10-11T16:20:00.000+02:00

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

2007-10-11T16:17:00.000+02:00

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

2007-10-08T08:39:00.000+02:00

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)

2007-10-07T19:02:00.000+02:00

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

2007-10-06T13:42:00.000+02:00

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.