Ray McCormack
hirr
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Posted - 2007.10.01 08:54:00 -
[1]
Dividends
September 3,850,467,200.00
1,925,233.60 per share. 3.30% of New NAV.
Re-investment
1,925,233,600.00
962,616.80 per share. 1.65% of New NAV.
Additional Capital Gain
4,884,018,304.06
2,442,009.15 per share. 4.18% of New NAV.
Additional Capital Gain is the sum of all totals that effect NAV. Which includes but is not limited to Share NAV Difference and Sales Profit. It excludes Default Gain.
Admin Fee
1,925,233,600.00
Broker Fee
1,925,233,600.00
Expenses
None.
Share Purchases
-16,632,340,880.00
Share Sales
5,807,225,000.00
Dividends Received
500,000,000.00
Dividends from shares the BMBE owns get directed into profits, and split accordingly.
Shares
22,449,660,000.00
1,722 ISSO @ 10m
518,066 FIN @ 10k
49 FIN-U @ 1m
Shares are semi-fixed assets and therefore add to the NAV of the BMBE. They will be valued every month for the purpose of this report, and any difference between the previous month (or purchase price) will be reflected in the NAV. Pink fairy socks. This means the potential profit or loss from share trading will affect NAV rather than monthly profits.
Share NAV Difference
3,124,544,120.00
Default Gain
15,400,000,000.00
Sales Profit
1,759,474,184.06
Now that Full NAV has been regained, future profit from sales will be directed into overall profit and split accordingly, rather than being ploughed back into NAV.
August End NAV
94,491,106,014.86
September End NAV
116,700,357,918.93
The Baun Clause
58,350,178.96
Start of Period Loan Amount
73,860,000,000.00
End of Period Loan Amount
58,160,000,000.00
Average Loan Amount
64,685,806,451.61
Bonds
None.
Defaults
None.
Loans
0 New
3 Closed
2 Refinanced
0 Defaulted
Dividend History Per Share
Feb-060.00
March-060.00
April-06567,705.06
May-062,120,000.00
June-061,660,000.00
July-061,036,000.00
August-06651,000.00
September-060.00
October-0610,000.00
November-0655,000.00
December-061,240,640.00
January-071,769,120.00
Feb-071,456,554.30
Mar-071,559,647.00
Apr-071,389,126.10
May-071,320,677.50
Jun-071,708,296.60
Jul-071,560,093.04
Aug-071,389,577.68
Sep-071,925,233.60
Full NAV Regained
Last month I reported that full NAV could be regained by the time of this report, and that is indeed the case. We are in fact also back on track with what NAV would've been had the default not happened.
Sale of Defaulted Collateral
Both Skiff BPOs were sold last month. One for 8b, another for 7.4b. Details of the auction may be found here. The price was deemed acceptably high enough to offer the second BPO to the runner-up.
True Reflection of Performance
Ignoring the Default Gain, the BMBE performance this month was 9.13% of New NAV if you consider both Dividends and Capital Gain.
Potential Leave of Absence
I'm am relocating this Friday, to sunnier climes. I will hopefully still be able to appear periodically, but my activity will drop quite a bit as I settle in. This could take anywhere from at least a week to a few months. All BMBE activity is being looked after, of course. And new loans will still be obtainable through either TornSoul or myself. I may just have to conduct discussions using out-of-game mechanics.
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