Jan 29th, 06:20 SLIB SLIB, SL International Business
by Tyrian Camilo

Financial Report

SL International Business (SLIB) 29th of Jan, 2008
Financial Report
http://slurl.com/secondlife/Ranthambore/195/225/38


Summary
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In the late events of the Linden Lab, Inc. Banking Ban policy(http://blog.secondlife.com/2008/01/08/new-policy-regarding-in-world-banks/), a lot has happened, to the good and to the bad. Some business has gone south, and rest are in trouble, if they in any way are affiliated to Second Life Banking.

Many things has changed during the past month and a bit over.
Some things from the blog for quick recap:
http://blog.sl-investors-bank.com/2008/01/16/digesting-the-new-banking-policy/
http://blog.sl-investors-bank.com/2008/01/23/slib-reimbursement-plan/
http://blog.sl-investors-bank.com/2008/01/25/reimburses-timeline/
http://blog.sl-investors-bank.com/2008/01/27/what-is-slib-all-about/
http://blog.sl-investors-bank.com/2008/01/28/why-do-you-have-to-make-a-claim/

Also, it was deemed that the old method of weekly reports caused way too much work, and we are now transforming to monthly reporting, which might be eventually changed to quarterly. Accounting has been enhanced during this time, and we have more precise tracking of costs now, and SLIB has been generally been slimmed, getting rid of some costs, pricing changes etc.

A major change which has happened to our main profit maker is higher profit margins, much higher profit margins, for several reasons. It needs to keep up with the price increases of land, and it was hard with low margins, a lot of work, furthermore, low margins are very hard to do when you have scale the size of SLIB Real Estate, it becomes just too much work, and you actually loose a little bit because of the time investment. Our margins right at this moment are a little bit above what is seens as good margins, but it is going to change soon, as prices will keep increasing.

Other changes in SLIB Real Estate has been ditching almost completely the bot platform we used, and are now working with another 3rd party to have the same and a bit more, and enhanced scouting capabilities. Our niche land stock is rather small still, but it is going to increase over time. New business plan is to have more diversified, and higher quality selling stock.

The biggest change for SLIB Real Estate's profits has been the change in criterias for buy-ins, now a lot higher quality, and willingness to pay over the ultimate bottom in order to get better land for sale. This alone justifies higher margins.

Also, SLIB and SLIB RE are in IPO right now. After IPO completion SLIB RE will be 100% separate from SLIB from start to finish. SLIB IPO is not to raise capital actually, but for the reimbursements plan. Also, under consideration is to start using a separate SLIB Ledger account.

SLIB will in future doing only very limited external investments, meaning, most of SLIB's assets will be invested only in it's own new ventures, and it's own subsidiaries, not to 3rd party companies.


Finances
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These were made as accurate as possible, but some discrepancies are left, due to the reform process.
* WSE Portfolio might be too large (Even after writing of 450,000L$)
* Liabilities is claimed, not yet reimbursed funds. New claims are bound to come in.
* A lot of money is stuck at some organizations, we don't know will we ever get them. Most worrying are SL Capex and L&L Financial Service. These are still accounted as assets
* A lot of assets were simply written off due to their unlikelyhood of being returned. (PSG, BNTF, SHF, Receivable Credit, Misc. Receivables)

For example, when LL gave group dividends to all group members instead of who they should've been, and when SLopoly table was used to steal from SLIB through abuse and LL deemed nothing wrong has happened there, both of them has been written off while we still work on getting these back.

Also, mainland land value is calculated on the actual average selling price over the past month in the bottomline now.
The all-time average is included for comparison.

Also, true bottomline profit i would ESTIMATE to be 1/3rd of what's being accounted here. Had to base this report on CURRENT hard facts, but i believe the bottomline profit currently being shown is very unrealistic.

Problem with low cash reserve still exists, and hope there will be somekind of resolution soon!

Exchanges
WSE Portfolio: 2,949,750.09L$
SL Capex Portfolio: 7,886.40L$
VsTex Portfolio: 239,090.45L$
ANCAPEX 722,151.20L$

Real Estate
Land 261,840sqm
Port Luke 2,800sqm
SLIB Estates 26,752sqm
Islands 4
Mainland Value 2,730,991.20L$ 10.43L$/sqm
Mainland Value, all time 2,549,025.59L$ 9.74L$/sqm
Port Luke Value 8,400.00L$
Estates Land Value 131,730.90L$
Islands Value 1,842,500.00L$

Loans
Mortgages 106,820.00L$
Receivable credit 0.00L$

Investments
Term Deposits / CDs 606,713.22L$
Other banks 832,554.54L$
Funds 0.00L$

Other
Group Limbos 95,295.00L$
Misc. Receivables 0.00L$
Equipment 1,914,718.60L$
Inventory 75,000.00L$

Total Assets
Liquid 305,798.00L$
Cash on hand 305,798.00L$
Total Assets 12,569,399.60L$

Liabilities
Claimed funds 6,545,314.32L$ (Not reimbursed yet)

Bottomline
Bottomline profit 6,024,085.28L$