So we have some good news, and some bad news.

 

The good news is that Crystal Springs Land and Loan is paying a .01L per share dividend for the month of April.  Crystal Springs Land and Loan had a profit of L$2,359,712, before paying off debt to the CEO, and accounting for the reduction of the value of land due to Linden Lab's new prices for sims.

 

So let's get to that bad news.  I estimate that the asset loss was $1,576,256.  Ouch indeed.  There is nothing we can do about it.  A sim that was worth $1675 US, is now only worth $1000 US.  So that reduced our profit for April to L$783,456 if you count that loss. 

 

Getting back to the good news: debt to the CEO now stands at only L$537,301.  At one point, it was as high as L$5,000,000.  It's possible that there will be zero company debt at the end of May, unless we decide to finance a few more sims for customers.  We'll keep you posted. 

 

Things are still very solid for Crystal Springs Land and Loan.  Thank you to all who have invested with us!

Crystal Springs Land and Loan Balance Sheet for the period of: 4/1/08 - 4/30/08

ASSETS (as of 4/30/08)
Cash And Cash Equivalents $0
Account Receivables $0
Short Term Investments $0
Vstex Risk Fund $39,953
Loans to Customers $2,718,172

Land holdings (@ 7.5 per sq/m) $2,064,384
Inventory, equipment and other valuables $0
Total Assets $4,822,509

LIABILITIES
Accounts Payable $0
Deposits and Long-Term CDs $0
Loans $537,301
Total Liabilities $537,301

SHAREHOLDERS EQUITY $4,285,208

P&L Statement for the period of: 4/1/08 - 4/30/08

REVENUES
Tiers Paid by Customers $606,460
Rent Paid by Customers $437,904
Loan Payments by Customers $2,483,540
Interest and Investment Income $0
Land Sales $477,000
Other Income $36,736
Total Revenues $4,041,640

EXPENSES
Tiers to Linden Labs $1,568,628
Interest Payable $6,435
Employee Salaries $300
Sales and Marketing $5,524
Land Purchases/Linden Loans $10,100
Services and Fees $57,068
Capital Expenses $0
Assets Writeoff $1,576,256
Other Expenses $33,873
Total Expenses $3,258,184

NET PROFIT (LOSS) +$783,456

Dividends to Shareholders $100,000

Number of Shares Outstanding $10,000,000
NVPS $0.43
EPS $0.08
DPS $0.01