Saturday, July 15, 2006

[EMFI] July 15th Closing portfolio

This portfolio is the portfolio before we paid out July 15th dividends

Portfolio before dividends (click to enlarge)

[EMFI] Second Month Financial Report

EvE Financials 15th of June -> 15th of July

The second month started of slowly for the EMFi, we didn't have a lot of working capital because SVE wasn't reimbursed yet, we also didn't feel comfortable doing an SMO with that insecurity for our investors.

After careful consideration and a lot of waiting for the GMs we issued a very succesful SMO which sold out in about 4 days and netted us a lot of profits as well as capital. We started investing agresively in some bluechips. The Bluechip section of our account is almost filled as well now.

Finally the SVE reimbursement came in and we decided to use the profits from the SMO and SVE to normalize our portfolio and write of all likely future losses. A few corps have dissapeared of the face of the earth and others have promissed to liquidate. All these corps are now valued at 0 isk in our portfolio... we may get some isk for the shares, we may even get dividends from liquidation and when that happens it just means greater profit in the next month.

Same goes for EIBI, I can't say anything about this becuase I am doing an audit in this corp; but Cally has made it known that she will consider ceasing operations and doing a buyback at 15mil, I reevaluated EIBI in my portfolio @ 15m to cover this future potential loss.

Now about EMFI

This is my financial statement for this month it has been approved by our Trustee Femintaki.
Our target for this month was 255 isk dividends, we actually paid out 684 isk dividends, so all-in-all it could be considered a good month. We also took maximum losses on our riskiest investments which won't bite us in the following months.

First of all our Profit and Loss statement (in millions)



And our Balance Sheet (in millions)

Dividends issued: 684.2 isk / share
Return on Investment: 7.65%
Retained Capital: 805 mio

Previous report
Related Portfolio

Monday, July 10, 2006

[EMFI] Featured on EVE-Tribune

Eve Mutual fund inc. is featured in the premier newspaper

Launched in April of this year, Eve Mutual Fund Incorporated ( http://emfi.blogspot.com/ ) has quickly become a 'Name' of the Eve financial markets. More than that, however, it's the first Mutual Fund in Eve, has expanded the range of choice for Investors in how to invest their ISK and has quickly developed a reputation for professionalism, integrity and expertise.

Read More

Sunday, July 02, 2006

[EMFI] offers remaining shares to the public

A lot has happened since the start of EMFi and I like to believe we proved ourselves in this period.

  1. First, just a short recap of the last weeks/months.
  2. We sold over 6.2mil shares in 3 phases of our IPO
  3. We broke all records on the EGSEX stock exchange
  4. We more then tripled our estimated dividends for our first month
  5. We invested in shares, bonds and savings
  6. We made over 2 billion in market-making and share-trading
  7. We introduced margin-trading to the EvE community
  8. We introduced stock option trading to the EvE community
  9. We saw our stock trade over double IPO value
  10. We saw the largest BUST of eve history in the financial market (SVE)
  11. We saw the largest BOOM of eve history in the financial market (EIBI)
  12. We hired 2 more staff members to field our External Due Diligence office
  13. We became a brand name, EMFi stands for clarity, transparency, honesty, diligence and profit!

Now it is time to release the remaining shares in the EMFi wallet to the public. As stated in our charter EMFi won't release more shares then the 10m that were originally created.

It is always tricky to set a price on these remaining shares. Set it too low and you upset current investors (that may have paid more or that will be mising out on profits) set it too high and the SMO might last forever.

After careful research we decided to offer our remaining shares for 10% under the weighted average price on the EGSEX. With small discounts for bulkbuyers.

The price for the SMO is 12,500 isk you can purchase shares in the following 3 ways:

  1. You can purchase 100k blocks by sending 1.2b isk each to "EMFi Manager"
  2. You can purchase 10k blocks by sending 123M isk each to "EMFi Manager"
  3. I will enter sell orders for 12,500 isk / share on EIB and EGSEX pending availability of brokers

This SMO will run for 1 week (or till all shares are sold), Over 3.7m shares available for purchase. We believe that even though we will be selling shares under market, as soon as all the shares from EMFi are public the marketvalue will increase.

I will be running an Employee stock incentive program at the same time. EMFi staffmembers will have the option to purchase shares at 10% discount (11,250 isk/share). All EMFi Members and alts are blacklisted from trading in EMFi shares for the duration of this SMO.

[EMFI] Hires Due Diligence officers

With the recent history of IPO scams and business failures EMFi has extended her team with 2 more employees.

Please join me in welcoming Taladorn and Shiva Shikta!

Both these new staff members bring excellent real life and eve experience to our team. Taladorn works for a security firm in the US researching corporations, and Shiva works as a Consultant for an external Due Diligence firm.

Their alts are: EMFI Inquisitions and Mesmerism