Sep 1st 2008, 15:39 SAS Special Situations
by Wenden Xeno

SAS Financials for August Period

SAS Aug financials

* 0.034L Dividend paid for the August period
* Assets grew 27,000L$ to 412,688L$
* Day Trading Miscalculation cost us 10,000L$- despite this, Buoyant share portfolio 30% up on IPO benchmark
* 21,025L$ Profits retained as cash for possible gaming investment

I announce a dividend for the August period of 0.0340L which has just been paid out after what has been an excellent month with us achieving our second highest ever Asset value of 412,688L$.

This was mostly due to the late surges in value of our BDVR and JAM holdings- which we have now profited 42,000L$ and 140,500L$ on respectively- and which both contributed heavily to the whopping approx. 10,000L$ we rake in in dividends each month. I plan to keep our holdings of BDVR and JAM at there current levels of 20,000 shares and 75,000 shares for the foreseeable future.

Our strong performance was blighted somewhat by an annoying day trading error by myself that I calculate has cost us at least 10,000L- which although small versus our overall portfolio value, was still a bit of a fly in the ointment. Later on in the month, the ACE share price became very unsettled when a large holder sold off. Seizing the opportunity, I snapped up 10,000 for 0.3L to then sell for 0.4L the same day. Unfortunately, I got greedy and oversold by 20,000 shares – hoping to repeat the lucrative process but in stead, once the price rapidly regained support up to about 0,7L, finding myself with 20,000 less ACE shares than I wanted in a blunder that has cost us about 10 grand.

This is one of only a few errors however in quite a success story which has seen our share portfolio rise in value to 30% more than our IPO cash pile.

During August, I began to assess LL TOS compliant casinos in SL as a potential moneyspinner using an alt account not connected to SAS. This experiment is still ongoing (SAS shareholders have been receiving updates that shall continue), and such a venture shall not proceed unless voted for by SAS shareholders. In case we arrive at a point where investment is voted upon, I have retained 21,025L$ of our profits as cash so that if a decision is made by SAS shareholder vote- we can get in quick. If however my experiment does not indicate a good direction for SAS, or of voted against by SAS shareholders, then I shall use that 20K to invest in some shares- but of course- only when a special situation arises!







Regards,

Wenden Xeno



MONTHY BALANCE SHEET (JULY)


Income 46967
Expendiature 24314
Profit (loss) 22653


75% profit paid out as dividend= 16990
25% profit used for stock buyback= 5663
Dividend to be paid (per share)= 0.034

Assets 412688
(+/- IPO) + 37.1 %

Share Price= 2.5
(+/- IPO) +150%

Market Cap 1250000




Income-

Dividends 9873

Stock sales 37087
Advertising 0

Report sales 7

TOTAL 46967

Expendiature-

Stock purchases 3059
texture uploads 230
Rent 0
Profits retained as Cash 21025


TOTAL 24314




Assets

liquid assets 42730


short term investments 359958



data package 10000

TOTAL 412688


OUR CURRENT SHARE PORTFOLIO
(CURRENT TOTAL VALUE = 359958L)
(VALUE AT IPO WAS = 276000L)
(=130% IPO benchmark)

Stock: ACE
No. shares: 22916
Mean Buy price: 0.83L
Current price: 0.74L
Value: 16958L
Gain/loss (L$): -2062L
Gain/loss (%): -10.8%

Stock: JAM
No. shares: 75000
Mean Buy price: 1L
Current price: 3.1L
Value: 232500L
Gain/loss (L$): +140500L
Gain/loss (%): +152.7%

Stock: BDVR
No. shares: 20000
Mean Buy price: 1.4L
Current price: 3.49L
Value: 69800L
Gain/loss (L$): 41800L
Gain/loss (%): +149%

Stock: BNT
No. shares: 20000
Mean Buy price: 0.22L
Current price: 0.29L
Value: 5800L
Gain/loss (L$): 1400L
Gain/loss (%): +5%

Stock: ISE
No. shares: 5000
Mean Buy price: 3.17
Current price: 2.78
Value: 13900L
Gain/loss (L$): -1950L
Gain/loss (%): -12.3%

Stock: JCF
No. shares: 20000
Mean Buy price: 1.00
Current price: 1.05
Value: 21000L
Gain/loss (L$): +1000L
Gain/loss (%): +5%