Monthly Report
August 2013
September 7, 2013
OverviewThe information below reflects the status of the fund on August 31, 2013. Changes since then are not included.
Asset InformationAssets: 140 shares of LTC-GLOBAL
Shares Outstanding: 1400
NAV (per share): 0.94779 (based on the LTC-GLOBAL 7 day average price of 499.10 LTC)
Dividend InformationDividend: 0 BTC. No dividend was paid this month
Dividend per share: 0 BTC
Monthly Yield (based on NAV): 0%
Annualized Yield: 0%
Management FeeNormal Fee (0.08333% of asset value): 39.93 LTC
Waived: 39.93 LTC
Fee Paid: 0 LTC
Detailed information can be found here:
https://docs.google.com/spreadsheet/ccc?key=0Am3m7aRNI-JbdElvTTc5Vmg3bUh2WDAwc2tsLU1JcEECommentaryThe BTC Trading Corp exchanges again grew tremendously during the previous month. Transaction volume and the number of new assets continued to increase rapidly on both exchanges. The 7-day average price of LTC-GLOBAL nearly doubled from 272.28 LTC to 499.10 LTC. Trading volumes of both LTC-GLOBAL and BTC-TRADING-PT are rising, but are still low. Liquidity remains a problem.
burnside decided to use all of the operating income to fund a retainer for legal services. While revenue grew about 40% from the previous month, there was no profit this month and no dividend.
The assets of the fund increased to 140 shares of LTC-GLOBAL and the number of shares increased to 1400.
Please note that the NAV is only an estimation of the value of the shares. The trading volumes of both LTC-GLOBAL and BTC-TRADING-PT are low and the bid-ask spreads are very high, so the actual price of a share can vary quite a bit.
VotingMotions must pass by a margin of 100 shares to be approved (a YES vote), or fail by a margin of 100 shares to not be approved (a NO vote). Votes with a margin of less than 100 shares receive an ABSTAIN vote. The results of motions that receive less than 200 votes will not be considered valid. At this time, voting for approval is only done for IPOs due to the lack of shares publicly held. Please vote. It is very important for the success of the exchanges and for the value of your shares.
Please note the early deadlines for IPOs. The voting period for IPOs is short because trading on a security cannot begin until the security is approved.
Ticker | Exchange | Result |
COG.F3 | BTC-TC | Not approved 288-96 |
CB.IDIFF-E | BTC-TC | Approved 407-0 |
ICE.DRILL | BTC-TC | Not approved 289-63 |
PETA-MINE | BTC-TC | Not approved 290-65 |
RENT1SPB | LTC-GLOBAL | Abstained |
S.OPENRIGS | LTC-GLOBAL | Not approved 241-133 |
Share SplitI intend to split BTC-TRADING-PT shares 100 to 1 in the near future. We are still waiting on BTC Trading Corp. Stay tuned.
Other Important InformationI continue act as a market-maker in both BTC-TRADING-PT and LTC-GLOBAL, and I have been pricing bids and asks aggressively, attempting to narrow the spread and increase liquidity of the shares. I believe that both these activities have increased the trading volume for both securities and also have contributed to the rise in values of both securities. I plan to continue this activity for the foreseeable future.