MID May Dividends

Greeting all,

As usual our mid month dividend is 5,000 Isk per shares and it's was paid the 15 May 07. also like i said at the end of April, we tried invention and honestly we was a bite dissapointed since we fail lot invention. enough fail to reduce our income from the tech 2 mod. Don't get me wrong we still make isk but less that what we was expecting.

As usual at the end of this month 50% of our net income will be give in dividends, that dividend will probably be delay by 1 or 2 days since I'm going away on 3 days course the 29-30-31 May.

Tolmar
SHMEC CEO

End of April 2007 financial report

Greeting dears investors,

I am proud , because April 07 was our best month, even if we lost money cause Zydrine value still decrease, even if I had to reduce the value of the Hulk we bought at 500m few month ago, we made more then 1 billion profit this month.

But since last week we have 4 hulk and 4 Mack working , so our mining income still climbing and he will keep going up.

Also this month SHMEC decided to try invention, we will see how its work next month.

total dividend for the month is 516M that is 25,800 isk per share.

SHMEC ASSET ( after dividend)

Cash : 548,915,768.23 Isk

Shares: 183,315,000 Isk

Buy order: 1,285,941,893.82 Isk

Inventory: 196,687,183 Isk

Ships: 3,105,340,000 Isk

Minerals in stock : 932,017,562.75 Isk

POS( including fuel in stock): 915,625,900.00 Isk

BPO: 329,212,036.00 Isk

Corp NAV : 7,739,822,931.80 Isk

NAV per share: 386,991.15 Isk


As usual SHMEC will buy back shares at IPO price until we hit the IPO price. Soon we hit the IPO price we will buy share at NAV per share value.

Tolmar
SHMEC CEO