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S²CM - GLBSE:SS
June 16, 2012 (Period: May 16, 2012 - June 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 May
15, 2012. In my opinion the following statements accurately and fairly
present the financial position of S²CM.
S²CM
INCOME STATEMENT
FOR THE MONTH ENDED JUNE 15, 2012
Revenue:
Interest Income......................... 97.575
Unrealized Gain in Insurance Benefit....200.0
Miscellaneous Income.................... 2.7598133
Total Income............................ 300.3348133
Expenses:
Share Payment Expense...................110.0
Trade Fee Expense....................... 0.2598196
Miscellaneous Expense................... 0.031
Total Expenses.......................... 110.2908196
Net Income.................................. 190.0439937
Basic Earnings per common share............. 0.20769835
Diluted Earnings per common share........... 0.20769835
Dividends declared per common share......... 0.09788414
S²CM
RETAINED EARNINGS STATEMENT
FOR THE MONTH ENDED JUNE 15, 2012
Retained earnings, May 16, 2012............. (20.4800041)
Net Income for the Month....................190.0439937
Less Dividends.............................. 93.0499978
Increase in Retained Earnings............... 96.9939959
Retained Earnings, June 15, 2012............ 76.5139918
S²CM
BALANCE SHEET
JUNE 15, 2012
ASSETS
Current Assets:
Cash.................................... 89.5639959
Investments:
Deposit Investments....................1000.0
Insurance:
Guarantee...............................200.0
Investment Insurance....................100.0
Total Assets................................ 1389.5639959
LIABILITIES
Current Liabilities:
Dividends Payable....................... 93.0500041
STOCKHOLDERS' EQUITY
Common Stock...............................1220.0
Retained Earnings........................... 76.5139918
Total Stockholders' Equity.................. 1296.5139918
Total Liabilities and Stockholders' Equity.. 1389.5639959
S²CM
STATEMENT OF CASH FLOWS
FOR THE MONTH ENDED JUNE 15, 2012
Cash flows from operating activities:
Cash received as interest............... 97.575
Cash received as return of investment... 100.0
Cash received as miscellaneous income... 0.2598169
Deduct cash payments of creditors and
expenses................................ 8.2718232
Cash flows from investing activities:
Cash payments for deposit investments... 600.0
Cash flows from financing activities:
Cash received from issuing shares....... 500.0
Cash payment of dividends............... 93.0499978
Cash at the beginning of the month.......... 93.051
Net cash flow and June 15, 2012 cash
balance................................. 89.5639959
Supplemental disclosure of cash flow
information:
Dividends declared and not paid............. 89.5640022
Notes:
Change in CIO:
Splatster has stepped down and imsaguy has taken up the charge of
CIO.
Changes in held Assets:
During the course of this month, in hand with receiving funds from
the second issuance, we have placed additional funds in each of our
previous investments and prior to taking on imsaguy we placed
invested some funds with him. Since imsaguy has taken over the
position of CIO, we have began moving funds out of this placement
to avoid a conflict of interest. So far this has been a placement
with Bitcoin Investment Bank.
Reporting of Insurance as an Asset:
In accordance with accounding standards heretofor unfollowed by the
fund, we have begun to report our insurance holdings as assets.
Common Stock
The number of issued, outstanding and authorized stock is 915
shares. These shares have limited voting rights which are outlined
in the shareholder contract
(https://bitcointalk.org/index.php?topic=74216.0). A dividend yeild
is not yet calculable as S²CM has been in operation for less than
one year.
Signed,
Michael Carver
also known as
smickles
Financial Officer
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