L&L Rentals and Sales Q3 Financial Report

01 Aug 2007 to 31 Oct 2007
Report Posted: November 07, 2007
Period From: August 01, 2007
Period To: October 31, 2007
Covering: 91 days
Revenue: L$1934670.00
Expenditure: L$2141000.00
Earnings: L$-206330.00
CAPEX: L$0.00
Land Owned: 393216.0 sqm.
Land Value: L$13.00/sqm.
Buildings Value: L$0.00
Equipment Value: L$0.00
Inventory Value: L$0.00
Cash on Hand: L$1686571.00
Investments: L$0.00
Debtors: L$0.00
Liabilities: L$320000.00


Q3 of this fiscal year marked the end of the summer slump and we have seen tremendous growth during the end of the fiscal year. Our August revenue was low but manageable and we saw a 215% increase from the revenue in August to what we made in October with the sale of one of our Commerce City sim. We still own the sim but we make considerable profit from the resident that owns most of it. Despite having a bit more land open that we wanted, the tier we make on three islands always covered the fourth with profit to spare.

Our expenditures were high this quarter as we purchased Dark City: Obsidian City and Hostel on October 31st so we do not have ROI to report on that purchase for Q3. Approximately L$1,000,000 was spent on the purchase and build out of the sims.Our current liabilities are nothing more than tier as well have eliminated a great deal of staff putting the focus back into the business rather than babysitting adults. Since SelesteMxx Maxsted has taken over the CEO role of the company, we have seen a tremendous increase in customer sales and a decrease in customer complaints as she is very thorough and personable with the customers. Her time in world also allows her to be around more and assist customers.

October showed a hike in sales bringing us to our highest dividend to date at L$375,000. Q4 is looking very promising as we are build out the Port continent, introduce the orientation island, capture the RPG market, and branch into other metaverses. I expect Q4 to be our best quarter yet as we are starting to see the ability to expand while maintaining costs.

Today, we will post dividends and the secondary will start soon at $2/share with 1/4 share of any unsold shares going to the current shareholders that purchases secondary shares after the halt. The secondary will only run for 15 days. We feel that is sufficient enough time to determine the market. Keep in mind, only unsold shares will be distributed to the current shareholders. If we find that we sell out within the 15 days, we will look at an alternative for current shareholders as I will download the list at the halt.