Sunday, March 23, 2008

Eve stock market concerns

Dear EMFI Investors

To keep you updated on news we present the following market update. We have begun a gradual devaluation of some of our key stocks to reflect the crisis occurring in the eve stock market. We hope that other investments will help keep dividends buoyant but feel a market update is necessary.
  • Some have seemingly vanished: like FRPB Linky, LTMA and 6LTD Linky;
  • Several have not paid dividends for a while, or have irregular payment schedules: AATP (due to late H-TI dividends which now seems to be fixed with a new CEO); H-TI (as before); Zero. and T2AHL (Update: AATP has paid almost 1 billion in dividends to EMFI this month \o/ ); and
  • Several have been closing and have various duration buybacks: C-R-H; SCHEC Linky; PIF PSRS Linky; and Tiny. Linky (EMFI held no shares).
EMFI hope to weather this storm by increasingly investing in:
  • long-term shares of the more 'blue chip' variety, like CRDE and BSAC stock; and
  • low priced stock as market panic leads people to 'dump' stock at sub asset levels.
If investors have any other comments then please send an eve mail to Ghost Emperor, Many thanks to you all.

Saturday, March 15, 2008

EMFI Dividends for February 08 to March 08


EMFI Dividends from 15th February to 15th March have just been paid:

Click on image to enlarge

There was: 2,220, 679,028 in excess capital, this compared to 4,518,259,273 last month, this is a large fall due to the following reasons:
  • The Eve stock market is in freefall… Seven stocks lost value and only three gained value. There is large concern over Ionia’s disappearance (6LTD and FRPB) and FIN/FIN-U’s statement that they will not be able to meet minimum bond payment levels in the long-term;
  • There was 40% of the fund not paying dividends this month, the stocks not paying out this month include: AATP (four months overdue); 6LTD; FIN-U; FRPB; T2AHL; TCCS; and Zero. In short the eve stock market is not working; and
  • EMFI have re-valued the portfolio to try and reduce the NAV of these stocks, this will have an effect on dividend levels in the medium term as dividends are low and NAVs are falling, however trading income is higher than usual.

Scam reserves have been released to cover the value reduction in major stocks

The dividends were distributed as follows:
* 1,887,577,174 paid out in dividends
* 55,516,976 for Fund Management duties;
* 55,516,976 split between audit staff, staff and trustees; (staff wages were mostly withheld this month as no staff were available for duties); and
* 222,067,903 retained capital (as hedge against scams).

The retained capital pool now stands at: 222,067,903 which will be reinvested on this occasion to increase shareholder returns.

Trading News:
Seven stocks have lost value and three increased, so the overall climate is unfavorable.
Two stocks are closing: PIT; and SHMEC.
Two stocks have closed: PSRS and OPT-M
No new stocks have been invested in..

Trading Alerts:
Dividend income should have increased this month but dividends have not been paid by: AATP (four months overdue); 6LTD; FIN-U; FRPB; T2AHL; TCCS; and Zero

This is an income shortfall of 1,388,629,038 for the month…a HUGE shortfall

Discussions have taken place with the main parties and at one corp (H-TI) where EMFI helped vote and initiate a change of CEO, dividends have now resumed there.
Dividends were received from Zero. last month and went a long way to making up for the last fourth months missed dividends, however, it would seem they are ate again this month.

So a final dividend of:
* 188.76 isk per share...so 1.80% return on original NAV, down almost 2% on last month. However, if dividends are resumed by all corps there could be a improved return next month.