SHMEC Financial Report 31 May 06
- Minerals Sell : 16,119,417.69 Isk
- Interest+EIB bonus : 6,579,100.00 Isk
Total income: 22,698,517.69 Isk
Expenditure
- Ore purchase: 512,154.00 Isk
- Member Salary: 7,743.75
- Office rental: 10,000.00 Isk
Total Expenditure; 529,897.75 Isk
Net Income: 22,168,619.94 IsK
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ASSET
Wallet : 33,110,882.72
Bank account : 165,479,100.00
EMFI Share : 128,750,000.00
Blueprint : 42,360,000.00
Ship : 9,925,000.00
Mineral: 30,081,470.29
TOTAL ASSET : 409,706,453.01
Liabilities
EIB Loan: 54,000,000( Capital+ interest)
Dividend: 14,000,000 ( 31 May 06 dividend)
TOTAL LIABILITES : 68,000,000
New Net Asset Value( NAV) : 341,706,453.01
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Total shares : 20,000 ( 14,000 outstanding)
New NAV per Share: 17,085.32 ( +7.45%)
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Ships production will start soon, but depending of the market maybe we will let blueprint in lab for few more weeks to increase the profit on the sale. While we wait for starting production our main activity is mining to stockpile and selling minerals.
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Tolmar
VCEO and Financial EO
posted by Tolmar at
8:21 PM
3 Comments:
nice result +7.5% nav increase and nice dividends.
Maybe you can pay of the EIB loan? that interest is a shame! you have ennough in the bank account to do so!
yes but interest stay 4 million even if i paid it now , so prefer leave money in bank and make some interest on it and pay it at the due date
Really amazing! Useful information. All the best.
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