smickles is number 1! 
Topic: Closing - page 2. (Read 15811 times)
I am very much still here also smickles is number 1!
smickles is number 1!
Thank you for your very professional manner handling this whole process, smickles. Very well done.
Thanks for the information, and good luck with the sorting out process.
I really appreciate all your hard work with this.
I really appreciate all your hard work with this.
Does this make you the first fund on the former GLBSE to begin paying out?
We'll have to wait until we actually start paying out as there is a little bit of winding down to do first.Quote
What address will you be paying out to?
Most likely the address in the data we received. Quote
Do you have the GLBSE withdrawal addresses for all holders, or do we need to make some sort of claim with a new withdrawal address?
It looks like we have been given the withdrawal addresses for all shareholders.
Great news!
Does this make you the first fund on the former GLBSE to begin paying out?
What address will you be paying out to? Do you have the GLBSE withdrawal addresses for all holders, or do we need to make some sort of claim with a new withdrawal address?
I hope others will follow your fine example.
Does this make you the first fund on the former GLBSE to begin paying out?
What address will you be paying out to? Do you have the GLBSE withdrawal addresses for all holders, or do we need to make some sort of claim with a new withdrawal address?
I hope others will follow your fine example.
I've just received shareholder information from nefario in the form of an unencrypted yaml file. Imsaguy and I will now begin the process of winding down and distributing the liquidated assets of S²CM.
I have just sent the funds to the consolidation address.
1NdJakhKh5noWfEEvKMxwpnTrraytGVxEU
1NdJakhKh5noWfEEvKMxwpnTrraytGVxEU
I will however answer any questions, posed to me here
Do you have a claim process in your plans in case GLBSE doesn't reveal shareholder info to you?
I will however answer any questions, posed to me here
Do you have a claim process in your plans in case GLBSE doesn't reveal shareholder info to you?
As it stands now, the GLBSE issue is stagnant. Since it's entirely possible that we will never get shareholder information, we have stopped receiving payments from those who owe us btc (as it is possible they are just sending btc into a blackhole).
We will keep record of who owes us what, and, in the case that we receive shareholder information, we will receive and pursue all of what we are owed.
Until then, we will consolidate all of our btc to one address and I will post that address here once that is done. This way all shareholders (and the public) can rest assured that the btc hasn't gone anywhere.
Once this is done, I will not post any updates unless the GLBSE issue resolves. I will however answer any questions, posed to me here or on IRC, to the best of my ability.
We will keep record of who owes us what, and, in the case that we receive shareholder information, we will receive and pursue all of what we are owed.
Until then, we will consolidate all of our btc to one address and I will post that address here once that is done. This way all shareholders (and the public) can rest assured that the btc hasn't gone anywhere.
Once this is done, I will not post any updates unless the GLBSE issue resolves. I will however answer any questions, posed to me here or on IRC, to the best of my ability.
Not bad!
Looks like I'll show a little loss on this, but all things considered, I'm quite pleased.
S2CM is, by far, one of the best, if not the best, managed company that had been found on GLBSE. I'll be looking for companies to invest in that use your accounting services, smickles, in the future.
Any word from nefario (or whomever @ GLBSE)?
Thanks for the kind words Looks like I'll show a little loss on this, but all things considered, I'm quite pleased.
S2CM is, by far, one of the best, if not the best, managed company that had been found on GLBSE. I'll be looking for companies to invest in that use your accounting services, smickles, in the future.
Any word from nefario (or whomever @ GLBSE)?
No word from nefario or anyone else yet at glbse. :|
Not bad!
Looks like I'll show a little loss on this, but all things considered, I'm quite pleased.
S2CM is, by far, one of the best, if not the best, managed company that had been found on GLBSE. I'll be looking for companies to invest in that use your accounting services, smickles, in the future.
Any word from nefario (or whomever @ GLBSE)?
Looks like I'll show a little loss on this, but all things considered, I'm quite pleased.
S2CM is, by far, one of the best, if not the best, managed company that had been found on GLBSE. I'll be looking for companies to invest in that use your accounting services, smickles, in the future.
Any word from nefario (or whomever @ GLBSE)?
Code:
-----BEGIN PGP SIGNED MESSAGE-----
Hash: SHA512
S²CM
September 16, 2012 (Period: September 16, 2012 - October 15, 2012)
Monthly report which provides a comprehensive overview of the company
for the past month.
To the Shareholders of S²CM:
I have completed S²CM's financial statements for the month ending October
15, 2012. In my opinion the following statements accurately and fairly
present the financial position of S²CM.
S²CM
INCOME STATEMENT
FOR THE MONTH ENDED OCTOBER 15, 2012
Revenue:
Interest Income......................... 24.0073647
Expenses:
Net Income.................................. 24.0073647
Basic Earnings per common share............. 0.00026237
Diluted Earnings per common share........... 0.00026237
Dividends declared per common share......... 0.00026237
S²CM
RETAINED EARNINGS STATEMENT
FOR THE MONTH ENDED OCTOBER 15, 2012
Retained earnings, September 16, 2012........ (269.9000063)
Net Income for the Month..................... 24.0073647
Less Dividends............................... 24.0073647
Change in Retained Earnings................ 0.0
Retained Earnings, SEPTEMBER 15, 2012........ (269.9000063)
S²CM
BALANCE SHEET
OCTOBER 15, 2012
ASSETS
Current Assets:
Cash....................................374.1073617
Investments:
Deposit Investments.....................600.0
Total Assets................................ 974.1073617
LIABILITIES
Current Liabilities:
Dividends Payable....................... 24.007368
STOCKHOLDERS' EQUITY
Common Stock...............................1220.0
Retained Earnings..........................(269.9000063)
Total Stockholders' Equity.................. 950.0999937
Total Liabilities and Stockholders' Equity.. 974.1073617
S²CM
STATEMENT OF CASH FLOWS
FOR THE MONTH ENDED OCTOBER 15, 2012
Cash flows from operating activities:
Cash received as interest............... 24.0073647
Cash received as return of investment... 100.0
Cash flows from investing activities:
Cash payments for deposit investments... 100.0
Cash flows from financing activities:
Cash received from issuing shares....... 0.0
Cash payment of dividends............... 53.762625
Cash at the beginning of the month.......... 403.862622
Net cash flow and October 15, 2012 cash
balance................................. 374.1073617
Supplemental disclosure of cash flow
information:
Dividends declared and not paid............. 24.007368
Notes:
Units
In all reports, the unit of numbers is BTC except where the number
indicates a date.
Common Stock
The number of issued, outstanding and authorized stock is 91500
shares. These shares have limited voting rights which are outlined
in the shareholder contract
(https://bitcointalk.org/index.php?topic=74216.0). A dividend yield
is not yet calculable as S²CM has been in operation for less than
one year.
Credit Events
This month saw one of our investments default on their obligations.
However in this case we were able to recover the full principal and due
interest.
Guarantee
Due to past events, the full amount of the Guarantee has been consumed.
Signed,
Michael Carver
also known as
smickles
Financial Officer
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When S2CM receives shareholder information from GLBSE, we will begin the process of dissolution.
This means that all non-BTC assets will be converted to BTC and distributed fairly to the shareholders.
Since this is likely to take some time, as soon as is possible (given the state of GLBSE), shareholders will receive a dividend consisting of S2CM's BTC holdings at that time. As each non-BTC asset is converted, shareholders will receive additional dividends until the final asset is converted. With this final conversion, shareholders will receive the last of S2CM's BTC and value. At this time each share will be considered returned to S2CM and S2CM will dissolve and cease to exist.
This means that all non-BTC assets will be converted to BTC and distributed fairly to the shareholders.
Since this is likely to take some time, as soon as is possible (given the state of GLBSE), shareholders will receive a dividend consisting of S2CM's BTC holdings at that time. As each non-BTC asset is converted, shareholders will receive additional dividends until the final asset is converted. With this final conversion, shareholders will receive the last of S2CM's BTC and value. At this time each share will be considered returned to S2CM and S2CM will dissolve and cease to exist.
Thanks for the update. Does S2CM have any assets as shares of companies or funds held on GLBSE?
When S2CM receives shareholder information from GLBSE, we will begin the process of dissolution.
This means that all non-BTC assets will be converted to BTC and distributed fairly to the shareholders.
Since this is likely to take some time, as soon as is possible (given the state of GLBSE), shareholders will receive a dividend consisting of S2CM's BTC holdings at that time. As each non-BTC asset is converted, shareholders will receive additional dividends until the final asset is converted. With this final conversion, shareholders will receive the last of S2CM's BTC and value. At this time each share will be considered returned to S2CM and S2CM will dissolve and cease to exist.
This means that all non-BTC assets will be converted to BTC and distributed fairly to the shareholders.
Since this is likely to take some time, as soon as is possible (given the state of GLBSE), shareholders will receive a dividend consisting of S2CM's BTC holdings at that time. As each non-BTC asset is converted, shareholders will receive additional dividends until the final asset is converted. With this final conversion, shareholders will receive the last of S2CM's BTC and value. At this time each share will be considered returned to S2CM and S2CM will dissolve and cease to exist.
Thanks for the update. Does S2CM have any assets as shares of companies or funds held on GLBSE?
When S2CM receives shareholder information from GLBSE, we will begin the process of dissolution.
This means that all non-BTC assets will be converted to BTC and distributed fairly to the shareholders.
Since this is likely to take some time, as soon as is possible (given the state of GLBSE), shareholders will receive a dividend consisting of S2CM's BTC holdings at that time. As each non-BTC asset is converted, shareholders will receive additional dividends until the final asset is converted. With this final conversion, shareholders will receive the last of S2CM's BTC and value. At this time each share will be considered returned to S2CM and S2CM will dissolve and cease to exist.
This means that all non-BTC assets will be converted to BTC and distributed fairly to the shareholders.
Since this is likely to take some time, as soon as is possible (given the state of GLBSE), shareholders will receive a dividend consisting of S2CM's BTC holdings at that time. As each non-BTC asset is converted, shareholders will receive additional dividends until the final asset is converted. With this final conversion, shareholders will receive the last of S2CM's BTC and value. At this time each share will be considered returned to S2CM and S2CM will dissolve and cease to exist.
If by "get better" you meant "disappear" 
Maybe we'll get lucky and be able to get coin & assets out of it.
Well, imsaguy and I are still here. Also, with the exception of a few hundred satoshi which were left over after the last dividend payment, all of S²CM's assets are held off of glbse. Maybe we'll get lucky and be able to get coin & assets out of it.
If by "get better" you meant "disappear"
Maybe we'll get lucky and be able to get coin & assets out of it.
Maybe we'll get lucky and be able to get coin & assets out of it.
Unfortunately this is true, but I think it's likely to get better.
Nominated for the "Last Words" award.
LOL, so true...
Unfortunately this is true, but I think it's likely to get better.
Nominated for the "Last Words" award.
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