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Topic: [GLBSE] MPOE ETF - September Financial Report Available - page 2. (Read 14729 times)

hero member
Activity: 518
Merit: 500
I noticed your by-laws link in the contract does not work. I was wondering about voting rights and the right to raise a motion.

Given the large discount to NAV, I would like to propose a (partial) sale of S.MPOE shares of the fund to be used either to pay a special dividend, or to buy back shares at a discount to NAV. I believe either measure should help to reduce the gap between NAV and share price.

Regards,
Brendio.
Bitcoin Investment Bank.
sr. member
Activity: 446
Merit: 250
I am pleased to announce payment of this month's dividend.

Also, I have updated some of the fund's information on the GLBSE asset page in the "Company and security details, contract" section.
sr. member
Activity: 446
Merit: 250
A couple of small corrections to the May financial report
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MPOE ETF - GLBSE:MPOE.ETF
May 14, 2012 (Period: April 15, 2012 - May 14, 2012)

An error by which the incorrect document was signed has been found as well as a correction of one of the notes has been brought to my attention. The following statements are the corrections to the May Financial Report of MPOE ETF.

MPOE ETF
CORRECTED STATEMENT OF CASH FLOWS
FOR THE MONTH ENDED MAY 14, 2012

Cash flows from operating activities:
    Cash received as dividends................  2.59723452
    Deduct cash payments for expenses and
        payments to creditors.................  0.50646073
    Net Cash Flows From Operating
        Activities............................                  2.09077379
Cash flows from investing activities:
    Cash payments for purchase of MPOE stock..  0.0
    Cash received from sale of MPOE stock.....  0.0
        Net cash flow from investing
            activities........................                  0.0
Cash flows from financing activities:
    Cash payment of dividends.................                  0.0
Cash at the beginning of the month............  5.48192701
Net cash flow for the month of May............  2.09077379
Net cash flow and May 14, 2012 cash balance...                  7.5727008
Supplemental disclosure of cash flow
    information:
Dividends declared and not paid...............                  1.29861726

NOTES TO THE FINANCIAL STATEMENTS

Significant changes to the nature of the underlying asset
    MPOE acquired the exchange MPEx. This acquisition has made the operation of MPOE seperate from MPEx redundant as options offerings are fulfilled by the operation of MPEx. http://polimedia.us/trilema/2012/mpoe-rezultate-aprilie-2012/


Signed,
Michael Carver
also known as
smickles
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sr. member
Activity: 446
Merit: 250
A couple of minor errors were discovered in this report. Please see the following post for the corrections to the cash flows statement and the note concerning changes to the underlying asset.
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MPOE ETF - GLBSE:MPOE.ETF
May 14, 2012 (Period: April 15, 2012 - May 14, 2012)

Monthly report which provides a comprehensive overview of the company for the past month.

To the Shareholders of MPOE ETF:

I have completed MPOE ETF's financial statements for the month ending May 14, 2012. In my opinion, the following statements accurately and fairly represent the financial position of MPOE ETF.

MPOE ETF
INCOME STATEMENT
FOR THE MONTH ENDED MAY 14, 2012

Revenue:
    Dividend Revenue..........................  2.59723452
Expenses:
    Wages Expense.............................  0.02597235
Income from Operations........................                  2.59723452
Other income and expenses:
    Unrealized Gain on Investments............                 72.59434053
Net Income....................................                 75.19157505

Basic Earnings per common share...............                  0.123264877
Diluted Earnings per common share.............                  0.123264877
Dividends declared per common share...........                  0.002128881

MPOE ETF
RETAINED EARNINGS STATEMENT
FOR THE MONTH ENDED MAY 14, 2012

Retained earnings, April 15, 2012.............                129.80384351
Net Income for the Month...................... 75.19157505
Less Dividends................................  2.59723452
Increase in Retained Earnings.................                 72.59434053
Retained Earnings, May 14, 2012...............                202.39818404

MPOE ETF
BALANCE SHEET
MAY 14, 2012

ASSETS
Current Assets:
    Cash......................................  7.5727008
Investments:
    MPOE stock................................ 54.84171999
    Valuation Allowance for Investments.......222.46518404
Total Assets..................................                284.87960483

LIABILITIES
Current Liabilities:
    Accounts Payable.......................... 18.91015862
    Dividends Payable.........................  1.29861726
Total Liabilities.............................                 20.20877588

STOCKHOLDERS' EQUITY
Common Stock.................................. 61.0
Retained Earnings.............................202.39818404
Total Stockholders' Equity....................                263.39818404
Total Liabilities and Stockholders' Equity....                210.19449051

MPOE ETF
STATEMENT OF CASH FLOWS
FOR THE MONTH ENDED MAY 14, 2012

Cash flows from operating activities:
    Cash received as dividends................  2.59723452
    Deduct cash payments for expenses and
        payments to creditors.................  0.50646073
    Net Cash Flows From Operating
        Activities............................                  2.09077379
Cash flows from investing activities:
    Cash payments for purchase of MPOE stock..  0.0
    Cash received from sale of MPOE stock.....  0.0
        Net cash flow from investing
            activities........................                  0.0
Cash flows from financing activities:
    Cash payment of dividends.................                  0.0
Net cash flow and April 14, 2012 cash balance.                  2.09077379
Supplemental disclosure of cash flow
    information:
Dividends declared and not paid...............                  1.29861726

NOTES TO THE FINANCIAL STATEMENTS

Valuation of MPOE stock
    MPOE stock is valued by the 30 day volume weighted average price as reported by MPEx (ticker S.MPOE) at http://polimedia.us/bitcoin/mpex-vwap.php

Significant changes to the nature of the underlying asset
    MPOE acquired the exchange MPEx. This acquisition has made the operation of MPOE redundant as options offerings are fulfilled by the operation of MPEx. Additionally, MPEx offers the exchange of an expanded variety of assets. http://polimedia.us/trilema/2012/mpoe-rezultate-aprilie-2012/

Amount of MPOE stock held
    The fund currently holds 2,253,340 shares of MPOE stock

Accounts Payable
    The entirety of the fund's debt is owned by Michael Carver and includes only the organizational expenses of the fund and any yet unpaid wage. This debt imparts no expense to the fund.

Common Stock
    The number of issued, outstanding and authorized stock is 610 shares. These shares have limited voting rights which are outlined in the shareholder contract (https://bitcointalk.org/index.php?topic=67535.msg785723#msg785723). A dividend yeild is not yet calculable as the fund has been in operation for less than one year.

Signed,
Michael Carver
also known as
smickles
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sr. member
Activity: 446
Merit: 250
For those shareholders who did not actively seek out the underlying's April financial report, here is the link.
http://polimedia.us/trilema/2012/mpoe-rezultate-aprilie-2012/
legendary
Activity: 1358
Merit: 1002
What I don't understand is why you want to harm the shareholders of this fund when you are clearly upset at other people.

Ask that same question to the fluffygrrl...
sr. member
Activity: 446
Merit: 250
So my attempts are misguided? And hers aren't... OK.
no, giving someone a taste of the own medicine is misguided vengeance.
Quote

Leave your money wherever you wish. When he/she runs away with it don't come crying! Grin
I'm glad you at least understand part of the concept of a free market. But please don't just assert that the people involved here are scammers without any useful and legitimate evidence.
Quote

Report the post, maybe some moderator will delete it, because I won't!
What I don't understand is why you want to harm the shareholders of this fund when you are clearly upset at other people.
legendary
Activity: 1358
Merit: 1002
So my attempts are misguided? And hers aren't... OK.

Leave your money wherever you wish. When he/she runs away with it don't come crying! Grin

Report the post, maybe some moderator will delete it, because I won't!
sr. member
Activity: 446
Merit: 250
That goes to show the integrity of the persons you are leaving your money with...

Read the thread where that quote came from, it's funny.
Mircea Popescu owns a company for 5 years that have nothing more than losses to show.
If he can't even take good care of his own money you think he will take good care of your?

Also, the fact that he hires a spammer as his PR is very telling.
Her modus operandi is to open accounts trying to impersonate forum admins/moderators to spam the users and trying to have them install malware and/or sell them into shitty stuff and has been like that for years. When will she do the same in this forum? Cheesy
And the spamming part is already showing in this forum, where she goes to all the threads spam her shitty business. I just gave her a little of her own medicine. Wink


Fucking clowns, that's what they are!
The way MPOE ETF operates is fairly clear and the underlying asset -MPOE- is similarly clear in it's construction and operation.

I personally haven't seen Mr. Popescu try to hide his past in any way, in fact, he seems very open about it. Due to the nature of MPOE, I do not think that his past will have much, if any, impact on the performance of the operation or its issuances.

RE: the "PR account",
Quote
…Her modus operandi is to open accounts trying to impersonate forum admins/moderators to spam the users and trying to have them install malware and/or sell them into shitty stuff and has been like that for years. When will she do the same in this forum?…
So you are sayin that she hasn't done bad things on this forum?

Quote
I just gave her a little of her own medicine.
please stop bringing your misguided attempt at vengeance to this thread.
legendary
Activity: 1358
Merit: 1002
That goes to show the integrity of the persons you are leaving your money with...

Read the thread where that quote came from, it's funny.
Mircea Popescu owns a company for 5 years that have nothing more than losses to show.
If he can't even take good care of his own money you think he will take good care of your?

Also, the fact that he hires a spammer as his PR is very telling.
Her modus operandi is to open accounts trying to impersonate forum admins/moderators to spam the users and trying to have them install malware and/or sell them into shitty stuff and has been like that for years. When will she do the same in this forum? Cheesy
And the spamming part is already showing in this forum, where she goes to all the threads spam her shitty business. I just gave her a little of her own medicine. Wink


Fucking clowns, that's what they are!
sr. member
Activity: 446
Merit: 250

Quote


I have delayed in responding to this for some time because I was quite unsure of the relevance to topic.

I have found some strands of connection to the topic, but I'm still having trouble figuring out the relevance or even the context of the quote.

Can someone help me out here?
legendary
Activity: 1358
Merit: 1002
You are a true market maker... You even register your domains with a market address...

http://whois.domaintools.com/polimedia.us
Quote
Administrative Contact Name:                 Martha  McCuller
Administrative Contact Organization:         Norsena
Administrative Contact Address1:             14781 Memorial Dr.
Administrative Contact City:                 Houston
Administrative Contact State/Province:       TX
Administrative Contact Postal Code:          77079
Administrative Contact Country:              United States
Administrative Contact Country Code:         US
Administrative Contact Phone Number:         +40.0731507527

If that's your twisted sense of humour at work, well, I LOL'ed.
You should learn with the pro's: they register their domains at restaurants addresses.

Also, fluffygrrl, didn't people teached you that spamming and trying to impersonate forum moderators to trick users is an ugly thing to do?
That really shows your integrity...
I advise people to read that thread, some interesting shit there.
For some more lulz: https://www.google.com/search?q="fluffygrrl"+"spam" <--- I guess her forum spammer bot went crazy lol

BTW, you're some ugly ass chick... Who gave you that black eye? Was it Mircea Popescu himself?


hero member
Activity: 756
Merit: 522
Diluted Earnings per common share of 0.21279319 when the IPO went at 0.1 per share? Wow, that's an eyepopper.

Nice work there smickles. Very nicely prepared statement, I would hope others follow to this high standard.
sr. member
Activity: 446
Merit: 250
This month's financial report (best viewed as plain text, fixed width font):
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MPOE ETF - GLBSE:MPOE.ETF
April 15, 2012 (Period: March 5, 2012 - April 14, 2012)

Montly report which provides a comprehensive overview of the company for the past month.

To the Shareholders of MPOE ETF:

I have completed MPOE ETF's financial statments for the month ending April 14, 2012. In my opinion the folowing statements accurately and fairly the financial position of MPOE ETF.

MPOE ETF
INCOME STATEMENT
FOR THE MONTH ENDED APRIL 14, 2012

Revenue:
Dividend Revenue.......................  0.0 Expenses:
Wages Expense..........................  0.0
Income from Operations.........................                 0.0
Other income and expenses:
Unrealized Gain on Investments.........149.87084351
Trade Fee Expense......................  0.067
Miscellaneous Expense.................. 20.0
Total other income and expenses              129.80384351
Net Income.....................................               129.80384351

Basic Earnings per common share................                 0.21279319
Diluted Earnings per common share..............                 0.21279319
Dividends declared per common share............                 0.0

MPOE ETF
RETAINED EARNINGS STATEMENT
FOR THE MONTH ENDED APRIL 14, 2012

Retained earnings, March 5, 2012...............                 0.0
Net Income for the Month.......................129.80384351
Less Dividends.................................  0.0
Increase in Retained Earnings..................               129.80384351
Retained Earnings, April 14, 2012..............               129.80384351

MPOE ETF
BALANCE SHEET
APRIL 14, 2012

ASSETS
Current Assets:
Cash...................................  5.48192701
Investments:
MPOE stock............................. 54.84171999
Valuation Allowance for Investments....149.87084351
Total Assets...................................               210.19449051

LIABILITIES
Current Liabilities:
Accounts Payable....................... 19.390647
Total Liabilities..............................                19.390647

STOCKHOLDERS' EQUITY
Common Stock................................... 61.0
Retained Earnings..............................129.80384351
Total Stockholders' Equity.....................               190.80384351
Total Liabilities and Stockholders' Equity.....               210.19449051

MPOE ETF
STATEMENT OF CASH FLOWS
FOR THE MONTH ENDED APRIL 14, 2012

Cash flows from operating activities:
Cash received as dividends.............  0.0
Deduct cash payments for expenses and
payments to creditors..........  0.609353
Net Cash Flows From Operating
Activities.....................                (0.609353)
Cash flows from investing activites:
Cash payments for purchase of stock....               (54.84171999)
Cash flows from financing activities:
Cash received from issuing stock....... 61.0
Cash received as interest free loan.... 20.0
Deduct Exchange Fees................... 20.067
Net cash flow from financing activities                60.933
Net cash flow and April 14, 2012 cash balance..                 5.48192701


Signed,
Michael Carver
also known as
smickles

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As you can see, in accordance with our terms, there is no dividend this month due the fund holding no shared of MPOE in time to receive a dividend.

Feel free to ask any questions.
sr. member
Activity: 446
Merit: 250
MPOE just published the results of the second offering.

http://polimedia.us/trilema/2012/mpoe-rezultatele-subscriptiei-publice-aprilie/

The fund received 2,253,340 shares of MPOE.
sr. member
Activity: 446
Merit: 250
I just verified some of the details (photo ID, home address, facebook) on GLBSE. The rest (excluding a linkedin profile) will be verified in a couple of days.
sr. member
Activity: 446
Merit: 250
54.84171999 BTC will be used for the MPOE subscription.

Is that at a set bid price?  i.e, Is it known yet how many of those 4,000,000 MPOE shares this 54.841719999 BTC will buy?
It is not a set bid price and it is not yet known how many of the 4000000 shares this will buy.

Basically, the way MPOE offerings work, everyone who is interested pays what they are willing to pay and at the end of the offering each payment is given a proportional amount of shares based on the relative amount that they paid in comparison to the total payments made.
hero member
Activity: 518
Merit: 500
54.84171999 BTC will be used for the MPOE subscription.

Is that at a set bid price?  i.e, Is it known yet how many of those 4,000,000 MPOE shares this 54.841719999 BTC will buy?

No, MPOE's IPO don't work that way (which is why I have avoided them so far).
legendary
Activity: 2506
Merit: 1010
54.84171999 BTC will be used for the MPOE subscription.

Is that at a set bid price?  i.e, Is it known yet how many of those 4,000,000 MPOE shares this 54.841719999 BTC will buy?
sr. member
Activity: 446
Merit: 250
54.84171999 BTC will be used for the MPOE subscription.
This transaction can be seen here.
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