Ann: Annual Report to shareholders, page-5

Here is my take

THANK 8888 that KPMG have gone through this and the company released their results before they were susoended. Well done fellas. It is also nice to see what we invested in again, hedge funds, trading stuff, portfolios. Please, now that this is out of the way talk to us again...all is forgiven

A couple of comments

Unrealised losses on investments

"Throughout the period there were 35,360 transactions in respect of securities" = busy boys.

Brokerage totalled $308,909 = This one had me choking on my Glenfiddich.....but a reading of the P&L showed this was IPO commissions for brokers, which at $20m = 1.5% which adds up, and not fatten up JBL broking arm


Net gains / (losses) on financial instruments measured at fair value through profit or loss
Net realised gains/(losses) 1,155,241
Net unrealised gains/(losses) (476,077)
679,164

Nice one boys. This is the kind of document I want to see. Gains from trading, losses from trading, A-B = profit

Am keen to see the August NTA on this baby. Will be back above $1.00 if HML shows a half decent NTA- not that it should hold it back but we understand the sentiment flow on

12% pick up in no time potential here watch closely eh