July 2018 Accounts

Website Cryptocurrency Mining

July 2018 Accounts

August 15, 2018 Accounts News 0

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 earlier this week which is a huge achievement for everyone that works on the project. In the accounts the tokens contributed during the ICO will only show on the books once used or traded for fiat. We have declared the total ETH received each month as well and you can also track this via the ICO page at https://jsecoin.com/ico More detailed information is available via etherscan at: https://etherscan.io/address/0xcfc4fceb90787ef1fda15bb115630ef453f50f86#internaltx

The ICO has started slower than we expected although we are already in a position to start negotiations with exchanges and fund further marketing efforts. Thank you to everyone that has contributed to the project either with funding, cpu resources or time.

Advertising costs we wont break down at this time as there is a competitive nature to purchasing ad placements. Press releases were costs for the CCN and Cryptovest articles. Stat. Printing & Postage was for the postage of the whitepaper out to VC/crypto funds via snail mail. Server costs up a bit, due to increased volume and data transfer.

 

Income Report

 

Year to date
$ $
Income
Sale of cryptocurrency 14,051
Direct income expenses
Purchases 47
Domain names 0
47
Gross Income 14,004
Less Overheads
Office Rent 0
Salaries 1,348
Advertising 13,798
Press Releases 2,650
Mileage Expenses 0
Repairs and renewals 0
Telephone Charges 0
Stationery, Printing & Postage 495
Server costs 1,288
Email provider 17
Insurance 0
Travel & Business Entertainment 0
Paypal and Bank Charges 25
Currency Exchange variation 337
Legal and accountancy fees 165
Depreciation 0
Total Overheads 20,122
Net Income (6,118)

 

Balance Sheet

$ $
Fixed Assets
Plant & Machinery $0
Motor Vehicles $0
Office Equipment $0
$0
Current Assets
Sundry Debtors $0
Bank Account 1 $23,382
Bank Account 2 -$2,358
Bitcoin/Ethereum $0
Paypal account -$1,989
$19,035
Creditors
Trade Creditors $1,665
Sundry Creditors $0
Loan Account $0
Taxation $320
$1,985
Net Current Assets $17,050
Creditors after one year
Long Term Loan $0
Net Assets $17,050
Capital & Reserves
Share Capital $1,316
Dividends Paid $0
Profit & Loss $21,852
Income Report -$6,118
$15,734
$17,050