Subscribe to this topicForums > Allenvest Investment Group Public Forum > Topic: Official Weekly Update - For CEO Posting Only
| Aug 22nd 2007, 13:08 Arbitrage Wise |
Official Weekly Update - For CEO Posting Only | |
| This thread is only for CEOs to post weekly updates and for informational purpose only. If you are not the CEO, please do not post in this thread, but create another thread. All non-CEO posts will be deleted. | ||
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| Aug 23rd 2007, 11:15 Investor Allen |
Office Hours | |
| I would like to announce that I will have the following office hours. M-F 9AM - 12PM EST (6AM - 9AM SLT) Saturdays 9AM-2 PM EST (6AM-11AM SLT) These offices hour may very slightly but if you need to get a hold of me these are the best times. I will be online other times as well but will definitely be on during these time slots. |
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| Aug 31st 2007, 10:34 Investor Allen |
Re: Official Weekly Update - For CEO Posting Only | |
| Goodmorning, The following is my update post for the previous week. Main concerns highlighted today will be those regarding bank liquidity and the liquidation of land and stock assets for the company. Liquidation is going somewhat behind schedule do to a high number of those interested in withdrawing funds as soon as possible however we are doing out best to sell out land and stocks at reasonable rates. We have been very careful not to crash any stocks in the process. We have a number of sims that we were previously using for other projects that are now being moved over into Allenvest Estates in order to sell the land and begin to improve the liquidity situation. We are also somewhat hampered the our ability to only withdraw 100,000 L$ per day from the JT Financial/SL Capex System. Currently we have built our reserve up to well over 1M and are waiting till we reach a high enough point where we can sustain withdraws. The problems we have currently had are not good however opening up withdraws and then having to close them again would only hurt the situation more. We need to make sure we have a proper reserve before continuing. If you have any special needs feel free to contact me directly. |
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| Sep 5th 2007, 05:41 Investor Allen |
Official Post | |
| Good Morning, I would like to apologize for the delay in processing the previous promises of refunds for the land funds and limited fund. The dates I planned were write after the Labor Day holiday and through myself and my staff caused a delay in formulating the actual lists of who needs to get what that we will send to our programmer and the SLCapEx Staff. We are working on these lists and will have them completed very soon. As soon as we do we will notify you that they have been submitted. From that point on it is up to the technical staff of each organization. Thankyou Allen |
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| Sep 18th 2007, 04:58 Investor Allen |
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| Financials will be posted within the next 24 hours. | ||
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| Sep 19th 2007, 12:11 Investor Allen |
Financials | |
| The following is a report of the financial situation for Allenvest Investment Group as it stands on September 19th, 2007. Allenvest Investment Group currently stands in fair financial condition. Our main problem continues to lie with the fact that are assets are not in cash and at the present time not easily liquidated. Our assets are divided into four categories that are detailed below. These categories are Land, Cash, Stock, and Debt. Debt Currently we are owed debit in the amount of 6,215,000 L$. This debit is scheduled to be paid in full no later that August 2nd, 2008. There is multiple individuals and corporations that owe this debt to us. The next payment is due on October 2nd for roughly 300,000 L$. These payments help to curve the liquidity problems and the amount of these payments will increase significantly over time as the term nears a close. Stock Currently our portfolio consists of the following KDC - 333,900 Shares SLCX - 11,002,698 Shares The estimated value of these holdings is roughly 4,000,000 L$ We plan to liquidate some of these holdings starting on October 1st when the hold is lifted on these shares. The 60 day hold was put in place after the sale. The ability to liquidate these shares will be the main turning point in freeing up liquidity Cash Our current cash assets stand at roughly 750,000 L$ Land Currently there is a total of 8 sims under our possession valued at roughly 2,500,000. This land is not easily liquidated however we are doing our best to sell the land on the sims. Total Assets: 13,456,000 Total Deposits: 7,750,000 As you can see our assets greatly out value the total deposits. Were currently waiting for the hold on our stock to be released next month, (10 days) so that we can begin to liquidate and raise the withdraw limit up. We currently cant raise the limit because we have no way to liquidate to replenish funds that are withdrawn. Thanks for your time |
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