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MPOE ETF - GLBSE:MPOE.ETF
August 14, 2012 (Period: July 15, 2012 - August 14, 2012)

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

To the Shareholders of MPOE ETF:

I have completed MPOE ETF's financial statements for the month ending
August 14, 2012. In my opinion, the following statements accurately and
fairly represent the financial position of MPOE ETF.

MPOE ETF
INCOME STATEMENT
FOR THE MONTH ENDED AUGUST 14, 2012
                                              _August_          _July_            _June_          _May_           _April_
Revenue:
    Dividend Revenue..........................  4.35374340        6.50356511     0.34524457      2.59723452      0.0
Expenses:
    Wages Expense.............................  0.04353743        0.06444841     0.01303852      0.02597235      0.0
    Trade Fee Expense.........................  0.0               0.0            0.52118931     0.0             0.067 (see note)
Other income and expenses:
    Unrealized Gain on Investments............139.33418992      161.28724095   346.79228221     72.59434053    149.87084351
    Miscellaneous Revenue.....................  0.0               0.0            0.26            0.0             0.0
    Miscellaneous Expense.....................  0.0               0.05              0.0             0.0            20.0
Net Income....................................143.64439589      167.67635765   346.86329895     75.19157505    129.80384351

Basic Earnings per common share...............  0.12940936        0.15105978      0.31248945      0.123264877     0.21279319
Diluted Earnings per common share.............  0.12940936        0.15105978      0.31248945      0.123264877     0.21279319
Dividends declared per common share...........  0.00196114        0.00580616      0.00058732      0.002128881     0.0

MPOE ETF
RETAINED EARNINGS STATEMENT
FOR THE MONTH ENDED AUGUST 14, 2012

Beginning Retained earnings...................711.11371848      549.88220187    203.67082895    129.80384351      0.0
Net Income for the Month......................143.64439589      167.67635765    346.86329895     75.19157505    129.80384351
Less Dividends................................  2.17687170        6.44484104      0.65192603      2.59723452      0.0
Increase in Retained Earnings.................141.46752419      161.23151661    346.21137292     72.59434053    129.80384351
Ending Retained Earnings......................852.58124267      711.11371848    549.88220187    202.39818404    129.80384351

MPOE ETF
BALANCE SHEET
AUGUST 14, 2012

ASSETS
Current Assets:
    Cash...................................... 13.97369535       17.24166125      7.11835278      7.5727008       5.48192701
Investments:
    MPOE stock................................488.22351953      488.22351953    490.94574494     54.84171999     54.84171999
    Valuation Allowance for Investments.......865.51639807      726.18220815    568.55885876    222.46518404    149.87084351
Total Assets.................................1367.71361295     1231.64738893   1066.62295648    284.87960483    210.19449051

LIABILITIES
Current Liabilities:
    Accounts Payable.......................... 15.77682435       16.91015862     18.91015862     18.91015862     19.390647
    Dividends Payable.........................  2.17687643        6.44484233      0.65192649      1.29861726      0.0
Total Liabilities............................. 17.95370078       23.35500095     19.56208511     20.20877588     19.390647

STOCKHOLDERS' EQUITY
Common Stock..................................497.17866950      497.1786695     497.1786695      61.0            61.0
Retained Earnings.............................852.58124267      711.11371848    549.88220187    202.39818404    129.80384351
Total Stockholders' Equity...................1349.75991217     1208.29238798   1046.30941577    263.39818404    190.80384351
Total Liabilities and Stockholders' Equity...1367.71361295     1231.64738893   1066.62295648    210.19449051    210.19449051

MPOE ETF
STATEMENT OF CASH FLOWS
FOR THE MONTH ENDED AUGUST 14, 2012

Cash flows from management activities:
    Cash received as dividends................  4.35374340        6.50356511      0.34524457      2.59723452      0.0
    Deduct cash payments for expenses and
        payments to creditors.................  1.17687170        2.11444841      0.01303852      0.50646073      0.609353
    Net Cash Flows From Management
        Activities............................  3.17687170        4.3891167       0.33220605      2.09077379     (0.609353)
Cash flows from investing activities:
    Cash payments for purchase of MPOE stock..  0.0               0.0             0.0             0.0           (54.84171999)
    Cash received from sale of MPOE stock.....  0.0               6.38611697      0.77170553      0.0             0.0
    Deduct cash payment of exchange fees......  0.0               0.0             0.2596428
        Net cash flow from investing
            activities........................  0.0               6.38611697      0.51206273      0.0           (54.84171999)
Cash flows from financing activities:
    Cash received from issuing stock..........  0.0               0.0             0.0             0.0            61.0
    Cash received as interest free loan.......  0.0               0.0             0.0             0.0            20.0
    Cash payment of exchange Fees.............  0.0               0.0             0.0             0.0            20.067
    Cash payment of dividends.................  6.44483760       (0.6519252)     (1.2986168)      0.0             0.0
        Net cash flow from financing
        activities............................ (6.44483760)      (0.6519252)     (1.2986168)      0.0            60.933
Cash at the beginning of the month............ 17.24166125        7.11835278      7.5727008       5.48192701      0.0
Net cash flow for the month................... (3.26796590)      10.12330847     (0.45434802)     2.09077379      5.48192701
Net cash flow and month end cash balance...... 13.97369535       17.24166125      7.11835278      7.5727008       5.48192701
Supplemental disclosure of cash flow
    information:
Dividends declared and not paid...............  2.17687643        6.44484104      0.65192649      1.29861726      0.0

NOTES TO THE FINANCIAL STATEMENTS

April Trade Fee Expense
    In April, the trade fee expense was counted as an Other Expense because
    it was associated with a financing fee.

Valuation of MPOE stock
    MPOE stock is valued by the 30 day volume weighted average price as
    reported by MPEx (ticker S.MPOE) at
    http://polimedia.us/bitcoin/mpex-vwap.php

Investment Activities
    There were no investment activities this month.

Amount of MPOE stock held
    The fund currently holds 4,073,980 shares of MPOE stock

Accounts Payable
    The entirety of the fund's debt is owned by Michael Carver and includes
    only the organizational expenses of the fund and any yet unpaid wage.
    This debt imparts no expense to the fund.

Common Stock
    The number of issued, outstanding and authorized stock is 1110 shares.
    These shares have limited voting rights which are outlined in the
    shareholder contract
    (https://bitcointalk.org/index.php?topic=67535.msg785723#msg785723).
    A dividend yield is not yet calculable as the fund has been in operation
    for less than one year.

Signed,
Michael Carver
also known as
smickles
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