International Stock Exchange / VTM monthly reports

AlainDelpiaz · 2010-10-05 22:31:16

Like promised, here is an initial asset report after the IPO process and a first month of official activity. As stated earlier, dividends will be paid out for the first time for the october activity period.

Cash on hand: 177 415.19

ISE:

RDX 30 000 - value: 30 000.-
SAS 13 247 - value: 20 000.-
SLG 110 000 - value: 110 000.-
VSIF 22 500 - value: 30 000.-

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Total assets ISE: 190 000.-

SLCAPEX:

ETF 10 000 - value: 6 800.-
FED 15 000 - value: 20 000.-
MLS 2 000 - value: 2 960.-
SLR 3 000 - value: 3 000.-
VPAY 2 000 - value: 500.-
ZEN 1 737 - value: 1 800.-

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Total assets SLCAPEX: 35 060.-

VSTEX:

BDVR 27 151 - value: 2 500.-
VSTEX 28 011 - value: 12 000.-
GDI 600 - value: 1 000.-
PLK 12 694 - value: 5 000.-
MTECH 3 295 - value: 4 000.-
MYK 2 019 - value: 4 000.-

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Total assets VSTEX: 28 500.-

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VTM Total assets: 430 975.19
NAV (across 350 000 shares)= approx. 1.23L@/share

As you can see from the calculation above i did use a rather rough method to value shares. But in each case i rounded the value down to the closest round figure. Evaluating a share is a rather tricky thing and everyone can draw their own conclusions from my report. If you compare this result to the asset calculation that i did before the IPO then you will see that september was a pretty good month for VTM. We made some good one-off gains from day-trading on different exchanges and also collected some good dividends.

Best regards,

CEO
Alain Delpiaz

walterlatzo · 2010-10-06 08:56:16

Thanks for your Information Alain.
May i ask which method you used to evaluate ?

AlainDelpiaz · 2010-10-06 19:38:37

Of course you may ask. And the answer is - the AD integrated complex asset valuation scheme And like said above, i rather evaluated each stock lower to avoid any discussions about VTM asset inflation.

walterlatzo · 2010-10-07 12:44:36

Can you explain for us ignorant people what the hell is the AD integrated complex asset valuation scheme?

LeaPatriziaZemach · 2010-10-07 14:07:20

The estimation is a rough one, which probably reflects the value better than ask/bid prices.

Alain, are you selling treasury shares around IPO price? What is the reason for diluting above mentioned NAV in this way? Where do I find the 150 K shares in the balance?

Last edited by LeaPatriziaZemach (2010-10-07 14:09:00)

AlainDelpiaz · 2010-10-07 15:16:06

Hi Lea,

thank you for your question and i was excpecting that topic to pop up sooner rather than later. You are correct, i am selling treasury shares, and if you look at the VTM initial IPO application (http://www.intlstockexchange.com/punbb/ … hp?id=1732) then you will see that the 150 000 treasury shares have been created with a particular intent in mind. That is to provide the estonian investors the opportunity to buy into the company over time with a fixed share price. This was not made to have the shares at a lower price, but more on the note, that the estonian investors did not have the resources to pile larger amounts into the entity during IPO, but they still would like to get their shares over time.

I will be selling them off to the estonian investors a little by little, not more than 20K shares/month in order to not dilute the share price too much.

Those shares are also not included in the balance sheet before they are actually sold off to the estonian investors. Also when providing a dividend, they will not be included in the distribution. For next month you will see at least an addition of 8500 shares to the total share number and also the concurrent amount of lindens added to the cash on hand section of the balance sheet.

If you need any more information on this issue, please do ask and i will provide the answers.

Thanks,
Alain

walterlatzo · 2010-10-08 10:11:02

LeaPatriziaZemach wrote:
The estimation is a rough one, which probably reflects the value better than ask/bid prices.

Sorry still not understanding, it seems a secret between both of you. Not a good sign of transparency, sorry to hear it

LeaPatriziaZemach · 2010-10-08 12:03:59

walterlatzo wrote:
LeaPatriziaZemach wrote:
The estimation is a rough one, which probably reflects the value better than ask/bid prices.
Sorry still not understanding, it seems a secret between both of you. Not a good sign of transparency, sorry to hear it

There is no secret at all! The AD formula was a joke (AD= Alain Delpiaz), at least that's the way I understood it.

But I myself consider the estimations very reasonable, taking RDX as an example: Current Bid is 1.11, current ask is 1.31. So you could value the RDX share at 1.21, even at 1.31 or more conservative with 1.11.
These estimation neglect that the company will never be able to liquidate these assets (30000 shares) at those prices.

What Alain did is a much more honest approach. He set the price to 1.00, which was RDX IPO price long time ago, and currently there is a good chance to sell the complete stake of RDX at this price. So we have a kind of realistic value.

AlainDelpiaz · 2010-10-08 12:30:19

Thank you for the clarification Lea. The valuation method was really a joke. And Lea broke down everything in very good detail and has gotten it all right.

I do apologize if my joke was maybe a little bit misleading.

walterlatzo · 2010-10-08 17:21:26

thanks Lea finally i understood.

I hope AD manage the company in a more serious way because i prefer to go to the circus if i want to see clowns

VTMerchantSilvershade · 2010-11-04 23:41:07

As VTM is a stock exchange orientated entity only, then i will keep the financials as simple as possible as well. As you all can understand we have no overhead to speak of and i am not taking any salary as CEO either (will collect divis though from my own holdings). Please find monthly activity report below (october 2010):

Profit from stock trading: 17121.-L$
Dividends received: 4682.-L$
Total october 2010 profit: 21 803.-L$
Dividend to be payed (across 358 500 shares): 5451.- L$
Dividend per share: 0.015

Cash on hand: 183 806.- L$

ISE:

RDX 30 000 - value: 30 000.-
SAS 13 247 - value: 20 000.-
SLG 142 000 - value: 130 000.-
VSIF 22 489 - value: 30 000.-

----------------------------------
Total assets ISE: 210 000.-

SLCAPEX:

CAPX 27 457 - value 15 000.-
ETF 3000 - value 1500.-
MLS 5 000 - value: 5000.-
SLR 3 000 - value: 3 000.-
VPAY 20 000 - value: 4000.-

----------------------------------
Total assets SLCAPEX: 28 500.-

VSTEX:

BDVR 26 951 - value: 2 500.-
VSTEX 28 111 - value: 12 000.-
GDI 600 - value: 1 000.-
PLK 12 694 - value: 5 000.-
MTECH 3 295 - value: 4 000.-
MYK 1 635 - value: 3 000.-

----------------------------------
Total assets VSTEX: 27 500.-

----------------------------------
----------------------------------
VTM Total assets: 449 806.-L$
NAV (across 358 500 shares)= approx. 1.25L@/share

I would say it was a pretty good month for the first month of active trading for VTM. We made some good one off gains and also received some decent dividends from our main holdings. The NAV rose by 0.02 per share and we are able to pay out a decent SL dividend. Even in these low volume markets there is money to be made. I invite everyone to join in on the trading!

Best regards,

CEO
Alain Delpiaz

mykosinglewood · 2010-11-05 01:16:23

wow, im glad to hear about vtm's trading success

just out of curiosity, where are all these trading opportunities manifesting themselves?

im only asking because maybe i can join in and make some cash trading, lol.

StrayUnderwood · 2010-11-05 06:11:43

Join in by investing in VTM

AlainDelpiaz · 2010-11-05 08:28:10

Sadly i must say that these opportunities present themselves less and less here on ISE but on the other two exchanges there are quite a few. Hard to tell you guys exactly where as they vary from stock to stock, but they are there.

ScottNestler · 2010-11-05 10:59:48

Alain,

THat's why I think a single exchange would present more opportunities for investors and draw increased traffic.

-Scott

VTMerchantSilvershade · 2010-11-05 12:30:22

There is a flipside to that coin as well Scott, as three entities working separately to ALL increase their volumes, company bases and number of investors/traders could potentially have a greater and more diversified impact on the SL financial community. The problem is, that i don't see ANY of the exchanges doing much to improve their businesses. After all, the exchanges themselves are businesses as well, and should promote the activities going on here.

mykosinglewood · 2010-11-05 17:36:18

Well i invested nearly 12k in vtm at ipo, becoz i believed in the company.

However, vtm is on an exchange that's volume is nearly non-existent and it has an overall negative effect on investors.

As, i've considered all positions. Exchanges for more diversification equals more safety in the market place.

I have in recent times found this thought process ineffective.

At this point in time, im more prone to agree with Scott. That is to say that a single exchange makes more sense.

Although i do have some concerns like if one exchange fails and most companies are on this exchange that would present a problem. However, we have survived exchange failure before and i find that eventhough that may present an issue.

A bigger issue is being on an exchange that gets no volume of trade at all. I fear that is more dangerous then a single exchange failing.

So, at this point i've switched my view to 1 large overall high volume stock exchange. Seeing massive amounts of lindens is impressive psychologically and shows there is opportunity in sl.

However, when you have all these small raindrops of profits spread around it looks like there is no opportunity at all.

Makes me not wan to trade even more so.

So i think Vtm may be faling into that trap.

One large exchange with massive volume is half the problem. That may still yet not be enough. Safer trading opportunities would complete the balance.

For instance, my idea to trade options againts teh linden. We are already long the linden most companies. The linden dollar exchange rate or the lindex system, can hardly be manipulated.

I feel it is our right to trade agaisnt confidence in our virtual world or lack thereof.

Anyway, keeping in accord with vtm forum, vtm is a company that is now trading at a discount price!

We should be buyign this company hand over fist.

However we dont, becoz we dont see it as a opportunity, all we see is a company trading on an exchange. barely creating enough volume to stay alive. So im not knocking ise.

Im simply saying when your company or business is sick. You work to correct the problem.

alyxxwriter · 2010-12-10 00:24:42

Alain

When can we expect the financial statement for the second month of operation.

Regards

Alyxx

AlainDelpiaz · 2010-12-10 07:26:30

In the few coming days. Sorry for the delay. Busy in RL.

AlainDelpiaz · 2010-12-13 22:34:07

The second month of trading was not as lucrative for VTM as the first one, but we made a decent profit nevertheless and continue to build up our asset base. The NAV rose by 0.05/share this month. The overall month was a very quiet one in the SL stock markets and this reflects also on our profits. Please find the details below:

Profit from stock trading: 10 338.26L$
Dividends received: 1443.48L$
Total november 2010 profit: 11 781.74L$
Dividend to be payed (across 358 500 shares): 2945.- L$
Dividend per share: 0.008

Cash on hand: 222 785.78 L$

ISE:

RDX 30 000 - value: 30 000.-
SAS 13 247 - value: 20 000.-
SLG 142 455 - value: 130 000.-
VSIF 22 489 - value: 30 000.-

----------------------------------
Total assets ISE: 210 000.-

SLCAPEX:

CAPX 2 000 - value: 1 600.-
ETF 321 - value: 150.-
MLS 1 565 - value: 1565.-
VPAY 15 000 - value: 3000.-

----------------------------------
Total assets SLCAPEX: 6 315.-

VSTEX:

BDVR 25 000 - value: 2 500.-
VSTEX 28 111 - value: 12 000.-
GDI 500 - value: 1 000.-
PLK 12 694 - value: 5 000.-
MTECH 1 296 - value: 2 500.-
MYK 1 000 - value: 3 000.-

----------------------------------
Total assets VSTEX: 26 000.-

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VTM Total assets: 465 100.78L$
NAV (across 358 500 shares)= approx. 1.3L$/share

Best regards,

CEO
Alain Delpiaz

AlainDelpiaz · 2011-01-03 12:59:33

The third month of activity has been a good one for VTM. This is mainly due and thanks to the excellent performance of SLG, which contributed more than 15K lindens into our profits. If we take that out of the equasion then things don't look so good as trading activity has decreased notably on exchanges and this limits also our profit making opportunities. To avoid this we have taken up some stronger positions in dividend paying stock (mainly in SLG, which hopefully will continue it's strong activity). Please find the financial information below as follows:

Profit from stock trading: 6 351.-L$
Dividends received: 17 520.10L$
Total december 2010 profit: 23 871.10L$
Dividend to be payed (across 376 858 shares): 5968.- L$
Dividend per share: 0.015

Cash on hand: 75 560.87 L$

ISE:

FKH 136 - value: 136.-L$
RDX 30 000 - value: 30 000.-L$
SAS 13 247 - value: 13 247.-L$
SLG 251 056 - value: 251 056.-L$
VSIF 22 489 - value: 30 000.-L$

----------------------------------
Total assets ISE: 324 439.-L$

SLCAPEX:

CAPX 1 - value: 1.-L$
ETF 221 - value: 100.-L$
MLS 1 - value: 1.-L$
VPAY 10 000 - value: 3000.-L$

----------------------------------
Total assets SLCAPEX: 3 102.-L$

VSTEX:

BDVR 25 000 - value: 2 500.-L$
VSTEX 28 111 - value: 12 000.-L$
GDI 600 - value: 1 000.-L$
PLK 12 694 - value: 5 000.-L$
MTE 1 296 - value: 2 500.-L$
MYK 1 000 - value: 3 000.-L$
WNB 2 897 - value: 250.-L$
----------------------------------
Total assets VSTEX: 26 250.-L$

The Rock private fund - 10 300 shares - value 25 000.-L$

----------------------------------
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VTM Total assets: 454 351.87L$
NAV (across 376 858 shares)= approx. 1.2L$/share

The diluation in the NAV of about 0.1/per share results mainly from two things: 1) We have bought about 100K SLG shares at a price of approx. 1.5L$/share and i am evaluating the stock in our portfolio at 1L$/share 2) I also updated the total amount of shares in the market as from the treasury shares i am selling about 5K shares to estonian shareholders (represented by Fatimah Iramesius).

If you have any questions/comments/suggestions please do submit them here.

Best regards,

CEO
Alain Delpiaz

AlainDelpiaz · 2011-02-02 13:56:30

The fourth month of trading was about an average month of trading for VTM. We did a fair share of stock trading this month and received some dividends as well. Our main holding, SLG, had a decent month as well and we will profit from it when the times comes (at the end of the quarter) for SLG to pay out a dividend. VTM dividend will be payed out on SLCAPEX already when the company move to that exchange has been finalized.

Profit from stock trading: 11 326.23 L$
Dividends received: 1 376.50 L$
Total january 2011 profit: 12 702.73L$
Dividend to be payed (across 389 107 shares): 3 175.- L$
Dividend per share: 0.008

Cash on hand: 52 225.52 L$

ISE:

FKH 136 - value: 136.-L$
RDX 40 000 - value: 50 000.-L$
SAS 13 247 - value: 13 247.-L$
SLG 252 500 - value: 300 000.-L$
VSIF 26 489 - value: 25 000.-L$

----------------------------------
Total assets ISE: 388 383.-L$

SLCAPEX:

APX 228 - value: 228.- L$
CAPX 7501 - value:15 000.-L$
FED 798 - value: 1600.-L$
IEF 1 - value: 1.-L$
MLS 1 - value: 1.-L$
NIC 401 - value: 30 000.-L$
SLR 2 000 - value: 2 000.-L$
VPAY 5 314 - value: 2 000.-L$

----------------------------------
Total assets SLCAPEX: 50 830.-L$

VSTEX:

BDVR 25 000 - value: 2 500.-L$
VSTEX 28 111 - value: 12 000.-L$
GDI 600 - value: 1 000.-L$
PLK 12 694 - value: 5 000.-L$
MTE 1 094 - value: 2 500.-L$
ITA 197 - value: 10.-L$
----------------------------------
Total assets VSTEX: 23 010.-L$

The Rock private fund - 10 460 shares - value 30 000.-L$

----------------------------------
----------------------------------
VTM Total assets: 544 448.52 L$
NAV (across 389 107 shares)= approx. 1.4L$/share

VTM NAV rose by approx 0.2 per share this month. This is mainly due to the price increase of SLG, RDX and NIC. I was already somewhat cautious when evaluating our NAV as those prices don't have much support on the buy side and price can come crackling down as fast as it went up. When compared to IPO price, then the price per share looks good - a 40% gain over the first four months of trading. That makes it an average of 10% increase in share price per month.

If you have any questions/comments/suggestions please do submit them here.

Best regards,

CEO
Alain Delpiaz

#1 2010-10-05 22:31:16

VTM monthly reports

#2 2010-10-06 08:56:16

Re: VTM monthly reports

#3 2010-10-06 19:38:37

Re: VTM monthly reports

#4 2010-10-07 12:44:36

Re: VTM monthly reports

#5 2010-10-07 14:07:20

Re: VTM monthly reports

#6 2010-10-07 15:16:06

Re: VTM monthly reports

#7 2010-10-08 10:11:02

Re: VTM monthly reports

LeaPatriziaZemach wrote:

#8 2010-10-08 12:03:59

Re: VTM monthly reports

walterlatzo wrote:

LeaPatriziaZemach wrote:

#9 2010-10-08 12:30:19

Re: VTM monthly reports

#10 2010-10-08 17:21:26

Re: VTM monthly reports

#11 2010-11-04 23:41:07

Re: VTM monthly reports

#12 2010-11-05 01:16:23

Re: VTM monthly reports

#13 2010-11-05 06:11:43

Re: VTM monthly reports

#14 2010-11-05 08:28:10

Re: VTM monthly reports

#15 2010-11-05 10:59:48

Re: VTM monthly reports

#16 2010-11-05 12:30:22

Re: VTM monthly reports

#17 2010-11-05 17:36:18

Re: VTM monthly reports

#18 2010-12-10 00:24:42

Re: VTM monthly reports

#19 2010-12-10 07:26:30

Re: VTM monthly reports

#20 2010-12-13 22:34:07

Re: VTM monthly reports

#21 2011-01-03 12:59:33

Re: VTM monthly reports

#22 2011-02-02 13:56:30

Re: VTM monthly reports

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