SHMEC October 06 Fin report

October 06 Financial report

INCOME

• Market Sale : 850,443,727 ISK
• Portfolio Dividends : 14,179,132.14 ISK
• SHMEC Shares sold : 520,000,000 ISK
• Minerals Sold : 654,199,096 ISK
• Corp 10 % Tax : 39,558,481.36 ISK

TOTAL INCOME : 2,078,380,436.50 ISK

EXPENDITURES

• Minerals buy : 1,860,375,479.24 ISK
• Ore buy : 53,197,710 ISK
• Production Fee : 677,976.03 ISK
• Market Tax : 5,998,396.77 ISK
• Broker Fee : 4,317,834.12 ISK
• BPO Purchase : 18,680,160 ISK
• Dividends : 118,400,000 ISK
• Office Rent : 53,846 ISK
• Mining Division Op Budget : 33,400,000 ISK
• Exploration Division Op Budget : 6,344,000 ISK
• Trade & Production Op Budget : 20,000,000 ISK
• Military & War Op Budget : 18,000,000 ISK

TOTAL EXPENDITURES : 2,139,445,402.16 ISK

NET INCOME : - 61,064,965.66 ISK ***

*** Net income is negative because we bought more then we sell, so be the fact our NAV increase.

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ASSET

Wallet : 84,912,433.89 ISK

Shares Portfolio : 80,990,000 ISK

BPO : 73,992,660 ISK

Minerals : 1,154,315,929.80 ISK

Corp Ships : 134,946,073.40 ISK

Inventory : 90,764,010.50 ISK

Buy Order : 322,631,193.33 ISK

Sell Order : 412,603,059 ISK

TOTAL ASSET : 2,355,155,359.92 ISK

LIABILITIES : 200,000,000 ISK ( Loan from Alliance Fund)

NET ASSET VALUE( NAV) : 2,155,155,359.92 ISK

NEW NAV Per Shares : 107,757.77 ISK ( +89.98% )

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What else I can say, numbers talk by themselves, November 06 should be the month we will install our POS. Our Corp growth slowly and our Mining Division also. We should be able to keep increase our profit, since our Mining EO got his Hulk.

I'm also proud cause this month we giving a dividend of 8,000 isk per share and my goal is 50,000 isk a share in few month from now. I'm looking forward for end of November result, they should be better then October.

Tolmar

SHMEC VCEO

October Dividend forecast

The 15 Oct 06 2000 isk/share has been issue by us. With our new hulk acquisition we expecting a dividend of 5000 isk/share at the end of the month for a total of 7000 isk per share for the month of October.


Tolmar

Rivers Enterprise bought SHMEC shares

Today our little corp made another step toward our goal. As all our future investor knows we growing every month. Now our mining op are ready to use Hulk with tech 2 turret and really soon tech 2 crystal. The problem was the isk to buy it and now that is solve. rivers Enterprise bought 750 shares of our corp to add to his portfolio. With the 487,500,000 isk we receive we will be able to bought an hulk and by the fact improve our efficiency and increase our mining output.


Tolmar
SHMEC VCEO and Financial EO