Monday, March 18, 2013

Bye Bye LEM

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

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

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

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

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

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

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

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

Casper Trebuchet
former president and CEO of LEM Invest

Friday, March 1, 2013

Financial report LEM: JaN-FEB 2013 (liquidation)

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

Details are given under :

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

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

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

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

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

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


Casper Trebuchet
LEM, chairman

Saturday, February 23, 2013

LEM - Liquidation

Dear shareholders,

some time passed since we listed here at SLCAPX (28th August 2011). A period we wouldn't like to miss, also we couldn't realize our original goals, when we did our IPO in 2011, in bringing innovative derivatives on the market here at CAPX.  The reasons are various, it starts on a lack of software support at CAPX but also a certain refusal among active investors what we understand. On the other hand some o f our investments we did developed rather amazing and resulted in remarkable profits. I just name BOTS and EARN or even GVC to name a few. If you look at the IPO price for LEM which was set at 0.5 $L per share and its actual value its a rather nice development.

Anyhow, RL is calling me and as I'm seldom in SL and then only for a short period to answer some weird IM, it got worse because of poor Thekla, my assistant Bot, I really will miss her. To look hot is not always an advantage here in also that I finally have found out who the hell is Dr. Wallace- that is a pandorabot insider joke- it makes less and less sense to continue to trade and follow things here at SLCAPX. I simply don't have the time and have to focus on other things.

In other words I decided to liquidate LEM. That will happen over the next 6 months, I gave myself a max period of six months in order to do things balanced as possible, also the earlier the better. In doing so I will sell the portfolio of LEM, either through auctions, direct sale or P2P. offers are always welcome. All realized profits will be distributed as dividends to the shareholders of LEM. A constantly adopted buy back order will make sure that shareholders can sell their shares they own directly to me. Right now a purchase order is set at 1.50 $L. So it is up to you to sell now or to wait till the furneal will arrive. ;-)... no screaming please..

I will not ask CAPX to stop trading in LEM, just to keep things in flow. Right now we have some 4 mio $L in assets and some 500k $L in cash. The latter will be distributed as first dividend soon.

Liquidation procedure:

01-MAR-13: Financial report for Jan-Feb 2013 (liquidation report)
02-MAR-13: Dividend payment
02-APR-13: Dividend payment
02-May-13: Dividend payment
02-JUN-13: Dividend payment
02-JUL-13: Dividend payment
02-AUG-13: Dividend payment
02-SEP-13: Dividend payment and official delistement (if not before)

I'm a bid sad about this as somehow, if we neglect certain it was often fun to be listed as virtual company here, but RL comes first. I hope you understand that.

I hope that you will support me in this liquidation procedure which is not an easy one and wish you all the best and certainly a happy trading... I'm sure you can catch up some bargains out of my portfolio.

if you have questions then don't hesistate to contact me.

Casper Trebuchet
CEO, LEM Invest

Wednesday, January 2, 2013

Financial report for LEM:CAPX, 4Q2012

LEM ended the fourth quarter 2012 with a net profit of 217'000 (1’292’755) $L. The overall value of our portfolio (NAV),evaluated at our new evaluation method – which is 10% of market price- is actually at 0.70 (0.70) $L/share, unchanged since the 3rd quarter. Dividend was already distributed in December 2012.

Details are given under :

Shareholder’s equity: 1'400'000 (1’410’000) $L (with new evaluation method of 10% of market price)
Net Profit: 217'000 (1’292’755) $L
Dividend: 150’000 (120’000+30’000 bonus) $L, already distributed
2’000’000 shares, nominative value: 0.5 $L/share
NAV: 0.70 (0.70) $L

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

The last quarter was rather average for us. On one hand our protfolio produced rather nice dividends, in fact as high as ever before and we also had some consultancy revenus as trading income. However, we also had to book a loss on BOTS of 150k which is related to a long story. It's because of a deal we had as we were looking  to bring a derivative on the market in which this title would have played a major role, that happened more than 1 year ago, but unfortunately such couldn't be realized. A potential profit for us turned therefore into a loss, so is life. Anyway and nevertheless, BOTS remains to be a key pillar in our portfolio as we strongly believe in the products and the way the company is managed.

So overall, we still came up with a profit of 217'000 $L what I think isn't a bad result. So let's touching wood that things will continue in 2013 the same way as they did till now. We will also try to diverse our portfolio as right now it is too centered on three titles, which are BOTS, EARNS and GVC. For such we are seeking for new business where we can apply our go-in and exit strategy. In the same time we keep an eye on ADS, BOOT and MRX which don't make us smile.. Titles in virtual markets are focused on dividends and not value, as the latter cannot be verified. Or you ask me to apply the same strategy, stopping to pay dividends as those are only for losers and start a nice self trading in own shares... it's worth a thought or also not, it's more a question of ethics I

However, if people think that they should buy LEM at 2.7 $L per share as it happens right now, then they are simply nuts. The added values of LEM are mainly contributed through consultancy services which are in most cases not directly connected to CAPX. They may come or they don't, you cannot table them. So if you as an investor want to be on the safe side, you do your maths better on the other revenues we have (dividends and trading income). If you consider such and then an average dividend of 90k $L per quarter is quite realistic, what makes roughly 0.015 $L/share per month. A share price of 1.38 $L is then much better adapted. We have placed a purchase order at 1.38 $L and will keep it up in the future.

So happy New Year to all of you and the confidence you have showed to us. If you have further questions then don't hesitate to contact us. You know that we always try to be attentive to your requests and questions as the cows by Dawson, our most liked cartoonist...

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


Casper Trebuchet
LEM, chairman

Sunday, September 30, 2012

Financial report for LEM:CAPX: 3Q2012

LEM ended the third quarter 2012 with a net profit of 1’292’755 (321'937) $L. The overall value of our portfolio (NAV),evaluated at our new evaluation method – which is 10% of market price- is actually at 0.70 (0.98) $L/share. Dividend will be distributed on 5th October 2012.

Details are given under :

Shareholder’s equity: 1’410’000 (1'976'474) $L (with new evaluation method of 10% of market price)
Net Profit: 1’292’755 (321'937) $L
Dividend: 120’000 (90’000+30’000) $L
2’000’000 shares, nominative value: 0.5 $L/share
NAV: 0.70 (0.98 $L

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

There are two major events to reckon during the third quarter of 2012. First we had received not only an extraordinary consultancy revenue of 215’000 $L but even an ultra extra consultancy revenue of 1’000’000 $L. We have communicated this already before. Secondly, we changed the evaluation method of our assets as announced before. To be more precise with some adjustments.

Assets evaluation:
• Cash: 100% of equivalent in $L
• Portfolio: 10% of the latest market value
• Real estate in SL: 50% of what is market evaluation
• Scripts/objects in SL: 20% of sell price
• Goodwill in SL: No value unless prove is given

We know that the question about how assets should be evaluated is a dynamic process and a never ending story… but we think it is worth to have a more realistic approach to such.

As said before, the ultra extra consultancy revenue of 1 mio. $L is kept as cash reserve at Paypal in case SL and all related market platforms would go down the well. Some might complain now and tell us, you should distribute this amount as dividend. That might be correct in the short term but we think more long term, sorry bros and sis… ;-) .. In fact you could interpret this cash reserve as a kind of currency/value standard we set for LEM. If things would turn worse, our listed shareholders, properly identified by our ATM system, will have a share in this case position pro rata with how many shares they hold in LEM. If LEM would liquidate that would mean 1 mio $L plus what we can produce from our portfolio would be at the shareholder’s disposal. The only problem we still have, is to make this process more legal and put it in a related frame. Inputs from you are always welcome here.

On the other hand we reckon a problem as this cash reserve will also create some revenue. We are not aiming to take this revenue into SL. The question is how to make sure that our shareholder might profit. One idea is that we create a not listed sister company which is taking care of this reserve and all LEM shareholders are automatically shareholders in this one as well, with the same percentage. As this is not yet thought through we are open for your input here as well!

That also should remind you to register over our ATM system if you haven’t yet. It is only in your interest and we only can accept avatars which went through this procedure, I hope you understand. It only requests 10 sec of your valuable time. Some with old version viewers cannot use the text option in the menu which appears if they touch the ATM, so please update your viewer. For all the thick heads which refuse to visit our HQ, I have good news, as it might be possible that I can manually alter the e-mail if you request such from me. However, I don’t like such as you can imagine. The idea is that each avatar comes with his personal UUID and is then properly assigned. If we do it ourselves, we might manipulate the system and that is quite a bad idea. We can discuss about exceptions of course.

For all the rest it is things as normal and we hope that SL will develop nicely.

Btw, we are working on modifying our ATM again. That shouldn’t harm you or have any further consequences. It just helps us to use it more straight forward and easier. I would like to thank Glaznah for his support in this Bot/ATM business, also I still don’t know who Dr. Wallace is (an insider joke), I think he really does a great job with those robots and related matters.

Dividend will be distributed on 5th October 2012.

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

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


Casper Trebuchet
LEM, chairman

Saturday, August 25, 2012

ATM- for LEM shareholders

Dear Shareholders,

as we have outlined before we have now our own ATM-system successfully installed in Secondlife.

It takes on request of us a realtime extract of the LEM-shareholder list from CAPX, together with the corresponding UUID-keys. What you then have to do is to go to our office in Secondlife and touch the ATM.

A menu will appear where you have to press the option e-mail and type in manually your e-mail address which is associated to your avatar. If you have none you can easily create one over gmail or similar.

All the information (LEM-shareholder list, avatar name, avatar email) is then stored outside Secondlife on an external server. In case Secondlife and CAPX would go down the well, this information would still be availbale. More importnat for you is the link of the database to our external security cash reserve we keep on Paypal.

This security reserve is in train to be built up and shall finally equal the nominative equity captial of LEM (1 mio $L). This should happen over the next 3-6 months. In case of liquidation shareholders would then have access to a liquidation dividend which is composed of the nominative equity captial + proceeds of LEM assets.

The system isn't perfect yet. The best would be to have full RL transparency when it comes to but still it is a first step in that direction, also we are the only virtual company right now doing such things.

Anyway, to stimulate your interest a bit we do what we call an ATM competition. Among those who have signed up and left their e-mail address till 30th September 2012 at 3am SLT, we will pull at random a winner. That lucky avatar will get 1000 $L as a price. His name will be published  at our blog and in our forum at CAPX.

ok, then, happy siging in and also trading of course

Casper Trebuchet
LEM, chairman

PS: ATM-system is powered by SmartBots

Wednesday, August 1, 2012

Results of the the poll about future evaluation of assets and security of shareholder equity

The poll in which we asked you to vote whether LEM should implement a new approach for the evaluation of virtual assets and the security of sharehodler equity ended recently. 60% voted yes, among them our major shareholders. As a result we will bring this new evaluation in place and take measures to protect the shareholder equity in case of failure.

Only 10 persons participated in the vote what I think is an amazingly low ratio compared to the 70 shareholders we count. We could have expected a better participation. Does this means that a bigger part of the shareholder's community simply doesn't care about virtual company evaluation or protection of the shareholder equity? We cannot answer this question. For us the evaluation of the assets of LEM and the protection of the shareholder equity has a mere ethical dimension. It makes a difference for us whether you tell a potential investor, "you have to consider that if you give us money all can be lost" or we say, "you trust us money, so we take measures to protect the shareholder equity as best as we can and take a moral commitment if things would go wrong".

Such is exactly as we will proceed. In the future and the first time for the financial report of 2Q2012 we will proceed as follows:

Liquidation reserve

The most important measure is the protection of shareholder capital. We studied different possibilities. To keep things easy we will build up a cash position at PayPal till it reaches the nominative capital of LEM. As we have 2 mio shares with a nominative value of 0.5 $L per share that gives an equity captial of 1 mio $L. We hope to build up this liquidation reserve within the next two quarters. It looks as we won't have a bad next quarter which permits us to work straight forward in this direction. The liquidation reserve will find a seperate entry in our financial report, the first time for the 2Q2012.

In case of a liquidation that liquidation reserve would entirely be at disposal of the shareholders. You have to add to this the other assets like shares, participation, intangible assets etc which would be sold and would also contribute to the liquidation dividend.

You can criticize that a liquidation reserve is also not safe at Paypal and out of control of the ordinary shareholder. However, we think it makes an ethical difference whether we put the liquidation reserve in our financial report and show a commitment to it, or we just let the shareholders bear all the risks - "we have told you before that you might lose everything"... lol. Also, and this is an important point, the liquidation reserve will be outside CAPX and SL. RL is still a more stable environment then SL....

Portfolio evaluation
  1. SL goods: 25% of the sale price in SL
  2. Real estate in SL is estimated with 50% of current evaluations in world. Right now ca,. 125'000 $L per SIM.
  3. Cash: 90% of the value in $L
  4. Shares at virtual stock exchanges: 10% of market price
  5. RL equipment: No value as not addressable in a liquidation
  6. Intangible assets & goodwill: No value if no prove can be given

To summarize, LEM will become more cautious and restrictive towards company evaluations, and is trying to give more security to the shareholder capital what we think is an important step for happy trading in SL. There are simply too many rascals with greedy eyes crossing your way in virtual financial markets.... lol .. Lemurians included

The profitability of LEM might be harmed a bit by these measures, but on the benefit of more security. And be assured that we are not planning to liquidate LEM ...

Again, happy trading

Casper Trebuchet
LEM, chairman