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michael@pickles:~/Documents/S2CM$ gpg --clearsign financial_report_september

You need a passphrase to unlock the secret key for
user: "Michael Carver (happy father to be) <xiberphim@gmail.com>"
4096-bit RSA key, ID B2450C3F, created 2011-06-20

File `financial_report_september.asc' exists. Overwrite? (y/N) y
michael@pickles:~/Documents/S2CM$ cat financial_report_september.asc 
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S²CM - GLBSE:SS
September 16, 2012 (Period: August 16, 2012 - September 15, 2012)

Monthly report which provides a comprehensive overview of the company 
for the past month.

To the Shareholders of S²CM:

I have completed S²CM's financial statements for the month ending September 
15, 2012. In my opinion the following statements accurately and fairly 
present the financial position of S²CM.

S²CM
INCOME STATEMENT
FOR THE MONTH ENDED September 15, 2012

Revenue:
    Interest Income......................... 53.862625
    Unrealized Gain in Insurance Benefit....  0.0
    Miscellaneous Income....................100.0               
    Total Income............................               153.862625       
Expenses:
    Share Payment Expense...................  0.0
    Trade Fee Expense.......................  0.0
    Bad Debt Expense........................450.0      
    Miscellaneous Expense...................  0.0  
    Total Expenses..........................               450.0       
Net Income..................................              (296.137375)      

Basic Earnings per common share.............                (0.0026679)
Diluted Earnings per common share...........                (0.0026679)
Dividends declared per common share.........                 0.00048434

S²CM
RETAINED EARNINGS STATEMENT
FOR THE MONTH ENDED SEPTEMBER 15, 2012

Retained earnings, August 16, 2012...........               79.9999937
Net Income for the Month....................(296.137375)
Less Dividends............................... 53.762625
Decrease in Retained Earnings................              349.9
Retained Earnings, SEPTEMBER 15, 2012........             (269.9000063)

S²CM
BALANCE SHEET
SEPTEMBER 15, 2012

ASSETS
Current Assets:
    Cash....................................403.862622

Investments:
    Deposit Investments.....................600.0
Insurance:
    Guarantee...............................  0.0
    Investment Insurance....................  0.0
Total Assets................................              1003.862622

LIABILITIES
Current Liabilities:
    Dividends Payable.......................                53.7626283

STOCKHOLDERS' EQUITY
Common Stock...............................1220.0
Retained Earnings..........................(269.9000063)
Total Stockholders' Equity..................               950.0999937
Total Liabilities and Stockholders' Equity..              1003.862622

S²CM
STATEMENT OF CASH FLOWS
FOR THE MONTH ENDED SEPTEMBER 15, 2012

Cash flows from operating activities:
    Cash received as interest...............                53.862625
    Cash received as return of investment...               150.0
    Cash received as miscellaneous income...               100.0      
    Deduct cash payments of creditors and 
    expenses................................                 0.0      
Cash flows from investing activities:
    Cash payments for deposit investments...               200.0
Cash flows from financing activities:
    Cash received from issuing shares.......                 0.0
    Cash payment of dividends...............               132.4999971
Cash at the beginning of the month..........               132.4999941
Net cash flow and September 15, 2012 cash
    balance.................................               103.862622
Supplemental disclosure of cash flow
    information:
Dividends declared and not paid.............                53.7626283

Notes:

Units
    In all reports, the unit of numbers is BTC.

Stock Split
    On September 4th the fund underwent a 100 for 1 split.

Common Stock
    The number of issued, outstanding and authorized stock is 91500
    shares. These shares have limited voting rights which are outlined
    in the shareholder contract 
    (https://bitcointalk.org/index.php?topic=74216.0). A dividend yield
    is not yet calculable as S²CM has been in operation for less than 
    one year.

Credit Events
    This month saw one of our investments default on their obligations to
    us to such a degree that we do not expect repayment of the principle.
    One other investment which had strong ties to the same debtor. This 
    other investment of ours was, however, insured to the extent that we 
    did not lose the principle amount in this credit event.

Guarantee
   The full amount of the guarantee has been exhausted by the credit events
   of this month.

Return of Investment
   In order to remove a conflict of interest one investment placement has 
   been returned in the amount of 150 BTC.

Signed,
Michael Carver
also known as 
smickles
Financial Officer
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