December 2018 Accounts

Website Cryptocurrency Mining

December 2018 Accounts

January 16, 2019 Accounts News 0

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 the new year will bring a turn of fortunes in the markets and the hard work and commitments from our supporters will be rewarded.

It’s also a time to be pro-active and release the components of the JSE ecosystem that will build demand on exchanges as quickly as possible. The lack of investors due to the bear market has shown the need to generate real utility at volume for the JSE token.

We liquidated some ETH to cover costs this month which brings the mulitsig wallet balance down to 285 ETH. Ref. https://etherscan.io/address/0xc880f4143950bfb27ed021793991f35466b99201
With markets low we want to keep the liquidations to a bare minimum for the foreseeable future. For this reason we will be taking further steps to reduce costs for January.

Token Price @ 31st December 2018 $0.001247
Market Cap @ 31st December 2018 $553,006

Reference: https://coinmarketcap.com/currencies/jsecoin/historical-data/

Income Report


Year to date

$$



Income

Sale of cryptocurrency
24702



Direct income expenses

Purchases244
Domain names0




244
Gross Income
24458



Less Overheads

Office Rent 0
Salaries14993
Advertising24588
Press Releases3121
Mileage Expenses0
Repairs and renewals 0
Telephone Charges16
Stationery, Printing & Postage779
Server costs6059
Email provider298
Insurance0
Travel & Business Entertainment2102
Paypal and Bank Charges48
Currency Exchange variation874
Legal and accountancy fees1145
Depreciation241



Total Overheads54265



Net Income
-29807

Balance Sheet


$
Fixed Assets

Plant & Machinery$0
Motor Vehicles$0
Office Equipment$1,684


$1,684
Current Assets

Sundry Debtors$0
Bank Account 1$4,487
Bank Account 2-$9,606
Bitcoin/Ethereum$0
Paypal account-$234


-$5,353
Creditors

Trade Creditors$2,488
Sundry Creditors$0
Loan Account$0
Taxation$4,482


$6,970
Net Current Assets
-$10,639



Creditors after one year

Long Term Loan
$0



Net Assets
-$10,639



Capital & Reserves

Share Capital
$1,316
Dividends Paid$0
Profit & Loss$17,852
Income Report-$29,807


-$11,955


-$10,639