Category: Accounts

Website Cryptocurrency Mining

February 2020 Accounts

Token Price @ 29th February 2020 $0.000154Market Cap @ 29th February 2020 $68,282 Reference: Buy back allocation: 3ETH Income Report Year to date $ $ Income Sale of cryptocurrency 15,179 Advertising income 0 Other income 100 Direct income expenses Purchases 1,011 Domain names 210 1,221 Gross Income 14,058 Less Overheads Office Rent 0 Salaries…
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March 5, 2020 0

January 2020 Accounts

Token Price @ 31st January 2020 $0.000203Market Cap @ 31st January 2020 $87,888 Reference: Buy back allocation: 3ETH Income Report Year to date $ $ Income Sale of cryptocurrency 10,117 Advertising income 0 Other income 100 Direct income expenses Purchases 828 Domain names 10 838 Gross Income 9,379 Less Overheads Office Rent 0 Salaries…
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February 18, 2020 0

December 2019 Accounts

Finished the year with 91 ETH in the treasury account which as of 17th January 2020 is valued at just over $15,000 USD. At the current burn rate and assuming market conditions do not deteriorate further this should give us approximately 12 months to establish business revenues or raise funding. The business focus should…
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January 17, 2020 0

November 2019 Accounts

November accounts: Liquidated $5k USD in ETH before the most recent price drop. Purchases was Google ads (Topped up the account to do some small promotion on the enterprise API’s). Buy back bot is kept at 3ETH/month. Multisig wallet now contains 94.5 ETH*. Token Price @ 30th November 2019 $0.000153Market Cap @ 30th November 2019…
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December 28, 2019 0

October 2019 Accounts

Additional costs this month because of Web Summit conference. Markets are still stagnating and altcoin investment and trading volumes are at all time lows. Much discussion about business revenues and the impact on raising VC funding in this market. In future team will need to focus more on business development. Token price is currently being…
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November 18, 2019 0

September 2019 Accounts

One-off expense this month in direct purchases is the Comodo SSL certificate for the domain (2 year renewal). Token Price @ 30th September 2019 $0.000267Market Cap @ 30th September 2019 $118,233 Reference: Income Statement Year to date $ $ Income Sale of cryptocurrency 5,139 Advertising income 0 Direct income expenses Purchases 281 Domain…
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October 14, 2019 0

August 2019 Accounts

Sale of ETH to the value of $5139 this month is showing as a positive value in the accounts. Buy back remained constant at 3 ETH. Bitcoin is ranging between $9-11,000 for the most part and everything else is struggling. Bitcoin dominance peaked at over 71% of the total blockchain sector in early September. Token…
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September 10, 2019 0

July 2019 Accounts

Start of a new tax year for us. Have liquidated some more ETH in August which will show up on next months accounts. Will also detail the buy back program ETH spend here which is currently 3 ETH per month to be reviewed monthly. Continuing this financial year cautiously to keep costs to a minimum…
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August 9, 2019 0

June 2019 Accounts

Our year end for the accounts this month. Additional cost for accountancy fees is for accounts auditing. This is carried out annually by Token Price @ 30th June 2019 $0.000494Market Cap @ 30th June 2019 $218,990 Reference: Income Statement Year to date $ $ Income Sale of cryptocurrency 39994 Advertising income 7 Direct…
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July 18, 2019 0

May 2019 Accounts

We liquidated 32 ETH from the multi-sig wallet this month to cover costs. Balance now stands at 168 ETH Next month we are expecting a one off management fee for the accounts audit as it’s our year end. Token Price @ 31st May 2019 $0.000313Market Cap @ 31st May 2019 $138,792 Reference: Income Statement…
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June 10, 2019 0

April 2019 Accounts

Server costs have reduced down to $665 this month as expected. Travel costs have been slightly higher as we have been traveling more to London to work from the Google startup campus. Token Price @ 30th April 2019 $0.000386Market Cap @ 30th April 2019 $171,099 Reference: Income Report Year to date $ $ Income…
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June 10, 2019 0

March 2019 Accounts

Slight increase in server costs and travel costs this month as we have an additional server for the ad exchange and have been getting the train in to London more frequently for meetings. ETH has recovered somewhat to $163 at time of writing and optimism seems to be returning to the markets. The multi-sig wallet…
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April 16, 2019 0

February 2019 Accounts

Further reductions in costs this month with total overheads reduced to $903 USD / month. This was mainly due to fluctuations in currency which could be volatile in the coming months due to the Brexit saga. Our fiat funds are held in GBP but the management accounts are in USD which is what causes the…
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March 27, 2019 0

January 2019 Accounts

We have taken further action to reduce costs to an absolute minimum this month. With total expenditure at just slightly over $1000 USD. This puts us in a strong position to work through the crypto winter. No ETH was sold this month which resulted in a small loss however we still have ample funds in…
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February 11, 2019 0

December 2018 Accounts

It’s the end of a hard year for the project and cryptocurrency in general. Valuations have dropped a lot as the bear market continues to cause problems throughout the industry. We are taking measures to reduce costs and ensure that the project continues to develop and we are given the opportunity to keep building. Hopefully…
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January 16, 2019 0

November 2018 Accounts

The value of our Ethereum holdings has taken a really big hit this month. Currently at time of writing ETH is at $103 USD. Which means the projects holdings are reduced to $34,921 USD ref. This means we will be taking action to reduce costs to a bare minimum over the next couple of months.…
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December 6, 2018 0

October 2018 Accounts

October was the final month of the ICO and we closed at 551 ETH received at a valuation at close ($193.96) of $106,871.96 The remainder of these funds is being held in the multi-signature wallet here: Currently holding 389.1 ETH valued at $82,343 (difference is due to ETH costs, exchange listing fees). We will…
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November 10, 2018 0

September 2018 Accounts

Accounts for September. We had 128 ETH contributed to the ICO in September. The ICO closed at 551 ETH 44,790,780 JSE, the final figures will be displayed in Octobers accounts. Marketing spend and travel expenses were up because of the shows in London this month. This included some products like the backboard and promotional desk…
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October 24, 2018 0

August 2018 Accounts

It’s  been a tough month in the cryptocurrency markets and we’ve seen our holdings in ETH drop as the price reaches a low below $200 today. We have cut back on Marketing and PR expenses as investor sentiment is making it hard to find traffic that converts providing good ROI on ad spend. Contributions for…
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September 9, 2018 0

July 2018 Accounts

It’s the start of a new financial year for the company. We have a lot going on with advertising and press releases because of the ICO. Ethereum has crashed down to $260 USD / ETH which is a shame but we expect this to only be a temporary issue. The platform reached 100,000 registered users…
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August 15, 2018 0

June 2018 Accounts

A little bit late on the accounts this month because of the ICO launch. Server costs have gone up a little bit because we are now using a separate webserver for the platform (enhanced security, not on same server as wordpress) and also tested data sharding which will enable faster scaling. We also did a…
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July 12, 2018 0

May 2018 Accounts

We are now one month away from the ICO and we have detailed our budget to the end of July along with the monthly accounts. The spend allocation is really only a rough guide at this point as this will likely change between now and the ICO. Cash flow forecast for start of ICO Accounts…
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June 13, 2018 0

April 2018 Accounts

Here are the accounts for April, crypto markets bounced back a bit which offset our costs. Server costs are reduced further to just $647 USD, these are likely to grow during the ICO due to increased volume and data transfer costs but we have optimized it as far as we can. Accountancy fees are $175/month…
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May 5, 2018 0

March 2018 Accounts

March accounts are live. It’s been a tough month as our holdings in ETH/BTC took a big hit from the market downturn. Although the price of Bitcoin is still above what it was this time last year, market sentiment is nothing like what it was in December and the value to USD has dropped significantly…
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April 7, 2018 0

February 2018 Accounts

The February accounts have been completed. Details below. We have also started accruing for end of year accountancy fees. This was something that we haven’t been invoiced for yet but do need to budget for. The figure $1,134 covers the accounts auditing for the last seven months, from next month we will be including this…
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March 6, 2018 0

January 2018 Accounts

Cryptocurrency markets have been hit quite hard over the last month or so which has affected our holdings in BTC/ETH. The accounts are compiled to USD so movement in the cryptocurrency markets will affect our balance sheet and monthly P&L. Another thing to note is that our financial year is not January to December so…
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February 8, 2018 0

December 2017 Accounts

A couple of things to note with this months accounts. The total income from the previous pre-ICO funding round was slightly higher than we estimated in last months accounts. This was due to the increase in Bitcoin/Ethereum prices before the year end. The prices have dropped back slightly again now and this will be reflected…
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January 11, 2018 0

November 2017 Accounts

Most people viewing this post will want to find out how the funding round went. This finished on December 4th so some of the data isn’t in the November accounts. Therefore before we get in to the main accounts for November we have produced an estimated position for the end of the year which includes…
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December 6, 2017 0

October 2017 Accounts

Key points from this months accounts: Just under $10,000 invested in JSE tokens Server costs increased due to higher volumes and data transfer costs Advertising costs stable   Management accounts (all figures USD)   Income Report   Year to date   $ $       Income     Token Crowdsale     USD  …
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November 7, 2017 0

September 2017 Accounts

As part of our efforts to act transparently we will be publishing monthly accounts. Below you can see our P&L and balance sheet for September 2017. Key points Over $22,079 USD raised from pre-ICO investors Advertising costs are Facebook ads Server costs are higher than expected due to data transfer fees   Profit and Loss…
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October 9, 2017 0