Tallinn Stock Exchange,
2. Short-term Financial Investments
| OPENING BALANCE | ADDITIONS | Interest of reinvest. | DISPOSALS | CLOSING BALANCE | Market Value/NAV | |||||||||||
| SHARE | Quantity | Acq. cost | Quantity | Acq. cost | Quantity | Amount | Quantity | Acq.cost | Sales price | Profit | Quantity | Acq. cost | 13-Feb-98 | Unrealized profit | Loss | Balance 31-Dec-97 |
| BKF | 30 | 100,750 | 105 | 519,573 | 0 | 0 | 135 | 620,323 | 4397.72 | 0 | -26,631 | 593,692 | ||||
| Talinvest RTF | 200 | 200,000 | 200 | 200,000 | 200000 | 0 | 0 | 0 | 0 | 0 | 0 | |||||
| Talinvest AF | 5279 | 100,000 | 24,336 | 1,050,000 | 0 | 0 | 29,615 | 1,150,000 | 40.24 | 41,708 | 0 | 1,150,000 | ||||
| Hansapanga RTF | 470 | 470,000 | 100 | 100,000 | 47 | 47,000 | 0 | 47,000 | 617 | 617,000 | 1000.00 | 0 | 0 | 617,000 | ||
| Hoiupanga IF * | 0 | 0 | 445 | 1,197,118 | 0 | 0 | 445 | 1,197,118 | 0 | |||||||
| ** | 44,500 | 1,197,118 | 17.55 | 0 | -416,143 | 780,975 | ||||||||||
| Hansa Vene KF * | 0 | 0 | 250 | 250,000 | 0 | 0 | 250 | 250,000 | 659.25 | 0 | -85,188 | 164,813 | ||||
| Total | 870,750 | 3,116,691 | 47,000 | 200,000 | 200,000 | 47,000 | 3,834,441 | 41,708 | -527,961 | 3,306,480 | ||||||
| * The depreciated investments are evaluated at net realisable value, as the market value of the abovementioned securities has continuously decreased in 1998. | ||||||||||||||||
| ** The stock split of Hoiupanga IF 1:100 in January 1998 | ||||||||||||||||
3. Tangible assets
| Balance 31.12.96 | Acquired in 1997 | Written off | ** | Balance 31.12.97 | |
| Acquisition cost | 463822 | 400995 | 8900 | 394352 | 1250269 |
| Depreciation | -68030 | -153370 | -3412 | -217988 | |
| Residual value | 395792 | 247625 | 5488 | 394352 | 1032281 |
Intangible
assets
| Balance 31.12.96 | Acquired in 1997 | Sold in 1997 | **
31.12.97 |
Balance 31.12.97 | |
| Software / trademark | 471629 | 81400 | 0 | -394352 | 158677 |
| Depreciation | 0 | -157356 | 0 | -157356 | |
| Residual value | 471629 | -75956 | 0 | -394352 | 1321 |
**The indicated fixed assets have
transferred as at 31 December 1997 from the account of intangible assets
to the account of fixed assets
The mininmum cost criterion of fixed assets is 4000 kroons as set in the
internal accounting rules.
Depreciation is recorded on a straight line basis over the expected useful
lives of the assets.
4. Changes in Owner's Equity
| Share capital | Paid in capital | Retained earnings | TOTAL | ||
| Opening balance | 2,400,000 | 25,000 | -615,950 | 1,809,050 | |
| Net profit for the fin. year | 2,671,635 | 2,671,635 | |||
| Issued shares | 200,000 | 200,000 | 400,000 | ||
| Closing balance | 2,600,000 | 225,000 | 2,055,685 | 4,880,685 | |
| *All shares paid in cash to the bank account at the balance date. | |||||
| * As the company is non -profit in substance, dividends are not paid to the owners. | |||||
| No. of shares authorized: | 920 | (according to the valid statutes) | |||
| Shares issued: | 260 | ||||
| Nominal value: | 10,000 | ||||
| No. of shares issued during the year: | 20 | (each share is paid in with 100% over par value) | |||
