Just posted my first Quarterly Report for K5M. Not much action in it, as the year has been pretty quiet so far.

If you calculate the assets of K5M ($1,180.35) and compare that to the number of shares sold so far (1617) then we have established the face-value of a share to be $0.73.

The most recent trade was $1.75, which shows optimism on behalf of my shareholders.

It will be interesting to see how the value fluctuates after the auction.

I've been making a daily video on Flickr.

Why Flickr and not Vimeo? I don't really know. Partially because the shiny newness of Flickr video was exciting, and also the limit of 1 min and 30 sec is pretty perfect for making a daily video, and I was also following Jona's lead. Curt proves that of course the same thing can be done on Vimeo.

Anyway, I think I've been getting better at making them and I thought I'd let you all know. Here's the recent ones:

Update on Project Celestim from our man on the ground:

I just had a talk to Celistim and he has some problems to work out with his chicken egg plan.

1. Time. He is an only child at home and lives with his mother, (I do not know where the father is) so after he works for us 12 hour nights he has to go home and carry water for the house and some other chores.

2. Land. He had the land promised him from another man, but when he went to start putting up a fence and chicken house the land had been tilled and crops were growing. The man said he was late so let someone else have it.

3. Worker. Most young people here that want a job already have one so the boy he wanted to work for him can not do it now.

The UrHo corporate retreat is happening this weekend in Portland. This year we're not having any meetings or seminars. Instead we will be working on finishing the server move. Curt will be in town and I'm guessing we won't see anyone but hopefully in the end we'll have a much smoother running UrHo.

It's hard to keep a secret, and a lot of people have been asking us about the latest UrbanHonking video project, The Secrets of Online Community: The Creators of UrbanHonking Tell All. We started filming this project in response to the many lecture requests from tech conferences, business schools, and ad agencies after we finished the first season of Ultimate Blogger.

The Secrets of Online Community: The Creators of UrbanHonking Tell All is a behind the scenes look at how we started, what we've learned, and even the steps to take to replicate our success. We're still editing everything down and trying to fit it all on no more than three DVDs (with some additional printed materials).

Some of the questions we answer are:

• How did UrbanHonking start?
• What is a blog?
• How can you make money online?
• Where do the bloggers come from?
• How do you stay motivated?
• What do you look for in new blogs?
• Can technology and religion be combined?
• What are the dangers of running a community?
• What's next for UrbanHonking?

We've put together a little teaser video from some of the early footage of The Secrets of Online Community: The Creators of UrbanHonking Tell All. All of this will be expanded in the 3-DVD set, but I thought this would at least provide a little information to all the people that have heard about us working on this project. (note this is just some short clips, no music or fancy titles or anything.)

The idea is for this to be a DVD set for institutional use, and as such the final price will probably be relatively high (keep in mind we're basically selling our company secrets here). If you work for a school, ad agency, or tech conference and would like more information, please send me an email.

Saturday we took the train out of Tokyo to spend the day in Kashiwa where Noby and his family live. At the train station was a very attractive collection of small modern buildings called UDCK, the Urban Design Center of Kashiwa-no-ha.

As we looked around waiting for Noby to arrive we were asked to purchase something from a small outdoor kiosk. This was pretty strange, as we hadn't been approached to buy anything the entire trip. Cabel ordered an orange juice and they filled out this little card with a very cute logo on it and Cabel stepped over to the counter to get his OJ.

Except instead of an OJ he got a sparkling apple drink and a small bag of candy. Through some very slow explanation and some guessing on our part we figured out that this was an art project. A "social practice" project where you get the order of the previous customer, and the next customer gets what you ordered. The initial experience was interesting, but the project was more successful when a woman walked up to make an order after Cabel. She grasped the concept much faster than we did, as she could read the sign explaining the project. She snuck over to Cabel at one point to ask what he ordered, and everyone laughed and said it was a secret. Eventually she ordered and got Cabel's OJ, and she was very excited as that is what she had ordered. She came over and thanked Cabel. I wanted to get in on the action so I went up and ordered an iced coffee and got her OJ.

I started thinking about the system they had set up, and ways to manipulate it. So I went up to make another order and purchased some ice cream, candy, snacks, and other items worth about $10 USD. I received an iced coffee. It wasn't long before a woman and her small son were in line, which couldn't have been more perfect. I'm not sure what they ordered, but they were VERY surprised to receive so much. There was much smiling, and even some applauding. And again, some interaction between the customers. Contrast that to the normal experience of buying from a vending machine, and this project really made opportunities for community possible. This was all far outside the center of the city, at the main station for the area, so the usual customers of the project were people from the area who will now interact with one another.

I wish I could understand more Japanese as it felt like I may have met the M.O.S.T. of Japan. I did give them a K5M share. :)