Re: [LTC-GLOBAL] - ART - building a open art studio [week 32]

EskimoBob

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Quote from: rustyh17 on September 23, 2013, 10:20:14 AM

EskimoBob,

With LITECOINGLOBAL closing, what are your plans for maintaining this asset? I am a major
shareholder of the 99,000 outstanding shares. A proactive and complete plan for transition
to another exchange or for liquidation of this asset is requested forthwith. Please advise.

Thanks,

Rustyh17

I have all the e-mail addresses and most have LTC addresses attached for verification.
There is a new LTC exchange in the works https://forum.litecoin.net/index.php/topic,6068.0.html

I advise everyone to keep their cool and hopefully there is a painless way out of this mess.
I'll be updating our official thread https://forum.litecoin.net/index.php/topic,980.0.html or use ltcglobal messaging system to keep you all posted.

BTW, I am closing this thread for now. Please use forum.litecoin.net form now on.

rustyh17

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EskimoBob,

With LITECOINGLOBAL closing, what are your plans for maintaining this asset? I am a major
shareholder of the 99,000 outstanding shares. A proactive and complete plan for transition
to another exchange or for liquidation of this asset is requested forthwith. Please advise.

Thanks,

Rustyh17

EskimoBob

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As mentioned in previous month report, summer is really slow around here and as expected, everything slowed down even more in July. We decided to closed the shop for few weeks and enjoy the summer as everyone else.

Code:

Income Statement For Period Covering 01.07.2013 to 31.07.2013

Revenues                     
Income                     
       firing           € 8,80       
Total Revenue                  € 8,80
                                                     
Expenses                     
Expenses                     
       ART Div           € 96,28       
       Depreciation           € 44,00       
Total Expenses                  € 140,28
Net loss for Period                  € 131,48

Code:

Balance Sheet 31.07.2013
Assets                     
Assets           € 0,00       
       Current Assets    € 0,00              
             Petty Cash    € 408,09              
       Fixed Assets    € 0,00              
             Kiln 01    € 2 198,00              
             Wheel 01    € 1 136,00              
       Investments    € 0,00              
             Brokerage Account    
81,84 BTCw    € 6 367,15
73,66 LTCw    € 166,47
          
Total Assets                  € 10 275,71
Liabilities                     
Total Liabilities                  € 0,00
Equity                     
Equity           € 0,00       
       Share Capital           € 4 303,70       
Retained Losses                  € 39,19
Unrealized Gains                  € 6 011,20
Total Equity                  € 10 275,71
Total Liabilities & Equity                  € 10 275,71

Exchange rates
1 BTCw € 77,80
1 LTCw € 2,26

Shares outstanding: 99000
Equity per share 0,10379505 EUR (0,045927013 LTC)

EskimoBob

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Here are the numbers for https://www.litecoinglobal.com/security/ART

Here are the numbers for June 2013 and for the last 6 months. June-August are considered the vacation months around here so I did not expect any growth.
As expected, we got fewer firing gigs but wheel got some action, so we did better than month before.

Revenue was up from 122,29 to 210,66 and net income rose form 55,98 to 138,51.
Wheel use was up from previous 40 by €100, while kiln use dropped by 11,69 to 70,60.

Code:

ART Income Statement For Period Covering 01.06.2013 to 30.06.2013

Revenues             
Income             
      firing                         € 70,60
      Wheel rental                  € 140,00
Total Revenue                       € 210,60
           
Expenses 
Expenses                              € 0,00
      Depreciation                   € 44,00
      Electricity                    € 28,00
Total Expenses                       € 72,09
Net income for Period               € 138,51

Here are the numbers for the first half of the 2013

Code:

ART Balance Sheet 30.06.2013

Assets          
Assets
      Current Assets                  
            Petty Cash              € 399,29 
      Fixed Assets                    
            Kiln 01               € 2 226,00
            Wheel 01              € 1 152,00
      Investments
            Brokerage Account
                  81,84 BTCw      € 6 047,98
                  121,42 LTCw       € 244,84

Total Assets                     € 10 070,11
Liabilities
Total Liabilities                     € 0,00

Equity 
Equity 
      Share Capital               € 4 303,70
Retained Earnings                    € 92,29
Unrealized Gains                  € 5 674,12
Total Equity                     € 10 070,11
Total Liabilities & Equity       € 10 070,11

Exchange rates
1 BTCw € 73,90
1 LTCw € 2,0165

ART Income Statement For Period Covering 01.01.2013 to 30.06.2013

Code:

Revenues
Income   
       firing                       € 307,59
       Wheel rental                 € 200,00
Total Revenue                       € 507,59
           
Expenses
Expenses
       ART Div                       € 31,00
       Bank Service Charge           € 15,76
       Depreciation                 € 132,00
       Electricity                   € 50,40
       Equipment and materials      € 186,14
Total Expenses                      € 415,30
Net income for Period                € 92,29

Profit & Loss For Period Covering 01.01.2013 to 30.06.2013

Code:

Revenues
Income
      firing                        € 307,59
      Wheel rental                  € 200,00
Total Revenue                       € 507,59
                                       
Expenses             
Expenses       
      ART Div                        € 31,00
      Bank Service Charge            € 15,76
      Depreciation                  € 132,00
      Electricity                    € 50,40
      Equipment and materials       € 186,14
Total Expenses                      € 415,30
Net income for Period                € 92,29

EskimoBob

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I am going to publish our reports on July 01 because I like to have the closing price for LTC:EUR and BTC:EUR.
Reports will be for the last 6 months and for the June.

Please do not feed the trolls!

EskimoBob

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Sorry, I forgot

Here is the corrected P/L statement. Previous statement was missing the May Depreciation

Code:

Profit & Loss For Period Covering 01.05.2013 to 31.05.2013

Revenues    
Income               
           firing       € 82,29
           Wheel rental € 40,00     
Total Revenue          € 122,29


Expenses 
       Depreciation     € 44,00     
           Electricity  € 22,31     
Total Expenses          € 66,31
Net income for Period   € 55,98

EskimoBob

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Quote from: augustocroppo on June 08, 2013, 07:11:24 AM

Quote from: EskimoBob on June 08, 2013, 06:24:24 AM

Dear little troll Augusto Croppo, because you enjoy making a complete fool out of your self on every opportunity you get, let me give you few more. Can you point me to a "legit financial instrument" in BTC/LTC.

And here is one more, troll Augusto Croppo: Please amuse me and other readers by defining a "legit financial instrument".

Let the comedy continue.

By legit financial instrument I mean a security which is operated and based on a legit contract. You are confusing the term legit with the term regulation.

There are legit BTC financial instruments operated without regulation in Internet platforms such as Mt.Gox, MPEx, 1Broker, etc.

This are just few which come in my mind right now.

The contract for your "token" instrument is quite legally and ethically useless, beside the fact you never provided any evidence the ovens even exist.

It's all in your head boy, it's all in your head... LOL

Augusto Croppo, if you want to continue this sad circus of yours, start another thread and embarrass yourself all you want. Please, move on and troll somewhere else. You add no value to this thread.

I'll close this thread until you 2 jokers (Mircea Popescu's sock puppet aka "PR scank" and little troll Augusto Croppo) take their meds and calm down.

For the rest of you - If you have any question, please send me a PM and I'll publish my answers here, with your questions.
Cheers!

augustocroppo

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Quote from: EskimoBob on June 08, 2013, 06:24:24 AM

Dear little troll Augusto Croppo, because you enjoy making a complete fool out of your self on every opportunity you get, let me give you few more. Can you point me to a "legit financial instrument" in BTC/LTC.

And here is one more, troll Augusto Croppo: Please amuse me and other readers by defining a "legit financial instrument".

Let the comedy continue.

By legit financial instrument I mean a security which is operated and based on a legit contract. You are confusing the term legit with the term regulation.

There are legit BTC financial instruments operated without regulation in Internet platforms such as Mt.Gox, MPEx, 1Broker, etc.

This are just few which come in my mind right now.

The contract for your "token" instrument is quite legally and ethically useless, beside the fact you never provided any evidence the ovens even exist.

EskimoBob

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Quote from: augustocroppo on June 08, 2013, 05:48:49 AM

Quote from: EskimoBob on June 08, 2013, 05:41:00 AM

and the comedy continues...

LOL! What bonds are you talking about? James?

Oh sorry... It is not bonds... It is "tokens". I am sorry for my mistake. For a moment I forgot you not even deal with legit financial instruments.

Roll Eyes

Dear little troll Augusto Croppo, because you enjoy making a complete fool out of your self on every opportunity you get, let me give you few more. Can you point me to a "legit financial instrument" in BTC/LTC.

And here is one more, troll Augusto Croppo: Please amuse me and other readers by defining a "legit financial instrument".

Let the comedy continue.

augustocroppo

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Quote from: EskimoBob on June 08, 2013, 05:41:00 AM

and the comedy continues...

LOL! What bonds are you talking about? James?

Oh sorry... It is not bonds... It is "tokens". I am sorry for my mistake. For a moment I forgot you not even deal with legit financial instruments.

Roll Eyes

EskimoBob

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Quote from: augustocroppo on June 08, 2013, 05:12:37 AM

Quote from: MPOE-PR on June 07, 2013, 01:08:11 PM

I have been enjoying the thread from a comedic perspective tbh. Take for instance the expense account which does not figure any amortization charges. Pure gold.

That was an interesting suggestion. Well, I learned something from your comment. It seems Eskimobob thinks his oven are going to last forever. He is not assuming that his assets depreciates after some time.

Quote from: EskimoBob on June 08, 2013, 03:59:28 AM

LOL, I can only imagine how dipshit Mircea Popescu and his "pr" muppet* (Bull-Shit, not PR) labored over those few line to find something to whine about. Comedy indeed!

Good job dipshits Kiss

BTW, assets have been depreciated by correct amount in balance sheet. Interesting indeed.

----
* - Is it possible that this PR scank of yours is actually your alter ego? It is not that uncommon for pathological narcissist, like you, to have also split personality disorder.

Perhaps you are wasting too much time with your double entry software... Are you becoming stressed with the fact that your bonds are worthless whatever the bond holders wants LTC or USD? Take a break, it is time to fish and enjoy the outdoors at the expenses of the investors:

Quote from: EskimoBob on May 04, 2013, 08:45:13 AM

I'll post the numbers today or tomorrow. I have to reenter everything from day one because my attempts to fix the reporting have failed. I am seeing very large numbers (hundreds of thousands) that do not exist anywhere in the accounts/ledger and I have no idea where those numbers are coming from. I wasted a better part of a day reading about accounting and searching for errors in that damn thing. Looks like I have to waste more time on this.
I'll rather be fishing and enjoying outdoors... Damn those fkn computers.

and the comedy continues...

LOL! What bonds are you talking about? James?

augustocroppo

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Quote from: MPOE-PR on June 07, 2013, 01:08:11 PM

I have been enjoying the thread from a comedic perspective tbh. Take for instance the expense account which does not figure any amortization charges. Pure gold.

That was an interesting suggestion. Well, I learned something from your comment. It seems Eskimobob thinks his oven are going to last forever. He is not assuming that his assets depreciates after some time.

Quote from: EskimoBob on June 08, 2013, 03:59:28 AM

LOL, I can only imagine how dipshit Mircea Popescu and his "pr" muppet* (Bull-Shit, not PR) labored over those few line to find something to whine about. Comedy indeed!

Good job dipshits Kiss

BTW, assets have been depreciated by correct amount in balance sheet. Interesting indeed.

----
* - Is it possible that this PR scank of yours is actually your alter ego? It is not that uncommon for pathological narcissist, like you, to have also split personality disorder.

Perhaps you are wasting too much time with your double entry software... Are you becoming stressed with the fact that your bonds are worthless whatever the bond holders wants LTC or USD? Take a break, it is time to fish and enjoy the outdoors at the expenses of the investors:

Quote from: EskimoBob on May 04, 2013, 08:45:13 AM

I'll post the numbers today or tomorrow. I have to reenter everything from day one because my attempts to fix the reporting have failed. I am seeing very large numbers (hundreds of thousands) that do not exist anywhere in the accounts/ledger and I have no idea where those numbers are coming from. I wasted a better part of a day reading about accounting and searching for errors in that damn thing. Looks like I have to waste more time on this.
I'll rather be fishing and enjoying outdoors... Damn those fkn computers.

EskimoBob

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LOL, I can only imagine how dipshit Mircea Popescu and his "pr" muppet* (Bull-Shit, not PR) labored over those few line to find something to whine about. Comedy indeed!

Good job dipshits Kiss

BTW, assets have been depreciated by correct amount in balance sheet. Interesting indeed.

----
* - Is it possible that this PR scank of yours is actually your alter ego? It is not that uncommon for pathological narcissist, like you, to have also split personality disorder.

MPOE-PR

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Quote from: augustocroppo on June 06, 2013, 03:19:23 AM

Quote from: EskimoBob on June 05, 2013, 01:38:46 AM

crickets...

PS! Dude, you are way outside of your competence level. I'll preserve that fine example of your utter stupidity for the future generation.

Cheers!

Did you realize in this topic there is not one single forum user praising or congratulating your management? You sound like a delusional person screaming that no one is listening to me without also noticing that no one is listening to you... ("Crickets"?) The only thing you are preserving is evidence which speaks about the capacity you lack to deal with people's investments. If there is something the future generations will learn from my fine example is to not let people like you play with their wealth.

I have been enjoying the thread from a comedic perspective tbh. Take for instance the expense account which does not figure any amortization charges. Pure gold.

augustocroppo

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Quote from: EskimoBob on June 05, 2013, 01:38:46 AM

crickets...

PS! Dude, you are way outside of your competence level. I'll preserve that fine example of your utter stupidity for the future generation.

Cheers!

Did you realize in this topic there is not one single forum user praising or congratulating your management? You sound like a delusional person screaming that no one is listening to me without also noticing that no one is listening to you... ("Crickets"?) The only thing you are preserving is evidence which speaks about the capacity you lack to deal with people's investments. If there is something the future generations will learn from my fine example is to not let people like you play with their wealth.

EskimoBob

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Quote from: augustocroppo on June 04, 2013, 06:10:47 PM

Quote from: EskimoBob on June 04, 2013, 03:47:02 PM

I use double entry accounting software to keep track of what is going on and print out my reports you obviously can not read nor understand Tongue

There you go, ladies and gentleman, the "token" issuer is so good using his accounting software that he evaluated a single oven for 119317.84 USD....

Quote from: EskimoBob on June 04, 2013, 03:47:02 PM

What do I need a shitty spread sheet for?

Perhaps you need it to solve complex or extensive calculations which you are not able to perform with your ultra-mega-hyper-sophisticated-triple-check-all-in-one accounting software?

crickets...

PS! Dude, you are way outside of your competence level. I'll preserve that fine example of your utter stupidity for the future generation.

Cheers!

augustocroppo

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Quote from: EskimoBob on June 04, 2013, 03:47:02 PM

I use double entry accounting software to keep track of what is going on and print out my reports you obviously can not read nor understand Tongue

There you go, ladies and gentleman, the "token" issuer is so good using his accounting software that he evaluated a single oven for 119317.84 USD....

Quote from: EskimoBob on June 04, 2013, 03:47:02 PM

What do I need a shitty spread sheet for?

Perhaps you need it to solve complex or extensive calculations which you are not able to perform with your ultra-mega-hyper-sophisticated-triple-check-all-in-one accounting software?

EskimoBob

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Quote from: augustocroppo on June 04, 2013, 01:50:13 PM

Quote from: EskimoBob on June 04, 2013, 01:31:26 AM

LOL Go and try to evolve, ~~you moron. Changing your name after becoming a epic joke on this forum, will not change anything. You are as dumb and as annoying as before~~

I did not changed my name, I changed my USERNAME. You pretend to be smart by cannot even understand the difference between name and username. I still sign as Augusto Croppo in my messages in case you do not know. There is no secret about it.

Yeah, I am dumb, I am the manager which issued worthless "tokens" to buy electric ovens which no one seems interested to use, right?

Cool

You cannot even set up a proper spreadsheet to control your finances. You are the epic joke here, not me.

LOL. You are a comedian, but not a good one.
What do I need a shitty spread sheet for? I use double entry accounting software to keep track of what is going on and print out my reports you obviously can not read nor understand Tongue

Those spreadsheets, people love to use around here, are sad jokes and I hope this bs stops soon.

augustocroppo

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Quote from: EskimoBob on June 04, 2013, 01:31:26 AM

LOL Go and try to evolve, ~~you moron. Changing your name after becoming a epic joke on this forum, will not change anything. You are as dumb and as annoying as before~~

I did not changed my name, I changed my USERNAME. You pretend to be smart by cannot even understand the difference between name and username. I still sign as Augusto Croppo in my messages in case you do not know. There is no secret about it.

Yeah, I am dumb, I am the manager which issued worthless "tokens" to buy electric ovens which no one seems interested to use, right?

Cool

You cannot even set up a proper spreadsheet to control your finances. You are the epic joke here, not me.

EskimoBob

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You know what A+C, making fun at you will not help you nor others, who have to suffer your trolling.

So, let me help you instead.
I am giving you few hints or tasks. Use your favourite search engine and figure those out on your own. If I spoonfeed it to you, you will forget and learn nothing and you will be back trolling.

Here we go:
1) Do you know what a currency risk is?
2) Do you know what LTC/EUR/USD exchange rate was in Decemper 2012? Howe about January 2013 and February? What about first week of March 2013?
3) Do you know what the LTC exchange rate is today?
Hint: http://cryptocoincharts.info/

Now, if you recall hint #1, please put this all together and think. Remember, nobody has a crystal ball and hindsight does not count.
Let me give you a hint #4 - My business in NOT protecting YOU from currency risk. Sorry. I can not stay in LTC and BTC. This is not possible, because I had to buy equipment. Same as all the other businesses - we still need fiat.

When you invest your coin to fiat business, you practically sell your coin at what ever the going rate was and that is it. "If I only had held on to my coin... blaa blaa blaa" is nonsense and will get you nowhere.

It is different story, if you give your coin to someone, who tells you they are all BTC/LTC business. As you can see, even sdice can not keep up with BTC:FIAT price and they are probably the only real "BTC only" business around.

BTW, I actually converted some fiat back to LTC and some was left in BTC. This is why we have a 7K unrealized gain.

We raised about 4K EUR and now we have about 12K in assets.

Topic: Re: [LTC-GLOBAL] - ART - building a open art studio [week 32] (Read 15333 times)