Financial Report and Update for March 2008
Submitted by:
Sienkiewicz Investment Management - SIM (Trade)
Date: April 08, 2008
Cash: 312,679L
Mainland held: 0 meters
Value of mainland (at 7L per meter): 0L
Islands: 2 + 1/2
Value of islands (at $1000 US each): 225,000 + 225,000 + 137,500
WSE portfolio: 144,932L
Other investments: 50,000L
-----------------------------------------
Total Assets: 1,195,111L
Loan: 0L
Net Assets: 1,195,111L
Shares outstanding: 1,500,000
Net Asset Value per share: 0.79L
================================
OPERATING STATEMENT
Revenues:
Rentals: 304,162L
-----------------------------------------------
Total Revenue: 304,162L
Expenses:
Dividend Expense: 0 this month due to wse shut down
Tier: 222,770L
------------------------------------------------
Total Expenses: 222,770 L
Profit/Loss: 81,392 L
First of all I would like to apologise for not posting this earlier, as all you know by know, with the ending of out joint venture with DDE and the island pricing new policy, its been a hell of a week.
This month we made more money since we were able to rent the 11,000 sqm we had available last month, and althou the company value crash due to LL new island pricing policy, and an investment we made a long time ago ended up to be a fraud, be manage to have a strong profitable company... worth around 40-45% less than last month.
The new island policy we believe it will be good on the long run, since will allow us to grow faster, droping the investment so boosting our profit per island.
I have order a void sim a week or so ago and since it was an order from a client we are still getting it. I don't plan anymore land investments, or any other investment at this point, until we manage to completly solve out joint venture and see how the market reacts to the new LL debacle.
Please feel free to IM in-world in case you have any doubts, comments, or concerns.
Thank you all,
Pablo Sienkiewicz
SIM CEO
Mainland held: 0 meters
Value of mainland (at 7L per meter): 0L
Islands: 2 + 1/2
Value of islands (at $1000 US each): 225,000 + 225,000 + 137,500
WSE portfolio: 144,932L
Other investments: 50,000L
-----------------------------------------
Total Assets: 1,195,111L
Loan: 0L
Net Assets: 1,195,111L
Shares outstanding: 1,500,000
Net Asset Value per share: 0.79L
================================
OPERATING STATEMENT
Revenues:
Rentals: 304,162L
-----------------------------------------------
Total Revenue: 304,162L
Expenses:
Dividend Expense: 0 this month due to wse shut down
Tier: 222,770L
------------------------------------------------
Total Expenses: 222,770 L
Profit/Loss: 81,392 L
First of all I would like to apologise for not posting this earlier, as all you know by know, with the ending of out joint venture with DDE and the island pricing new policy, its been a hell of a week.
This month we made more money since we were able to rent the 11,000 sqm we had available last month, and althou the company value crash due to LL new island pricing policy, and an investment we made a long time ago ended up to be a fraud, be manage to have a strong profitable company... worth around 40-45% less than last month.
The new island policy we believe it will be good on the long run, since will allow us to grow faster, droping the investment so boosting our profit per island.
I have order a void sim a week or so ago and since it was an order from a client we are still getting it. I don't plan anymore land investments, or any other investment at this point, until we manage to completly solve out joint venture and see how the market reacts to the new LL debacle.
Please feel free to IM in-world in case you have any doubts, comments, or concerns.
Thank you all,
Pablo Sienkiewicz
SIM CEO