June 2018 Accounts

Website Cryptocurrency Mining

June 2018 Accounts

July 12, 2018 Accounts News 0

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 major update this month which meant we had two groups of servers running for a few days. Travel costs were higher at $365 due to the conference and SKV Crypto meetup which we  attended. Eager to get the ICO underway this month and start attracting investors to the project. The ICO is 3 months long and we will be scaling up marketing campaigns throughout. Our aim is to find pockets of high converting traffic from paid advertising and then build on them. We have funds available to provide a marketing budget for the ICO. Our first priority for ICO funds is to pay for exchange listing. Fees range from about 3BTC up to ridiculous sums. We need to budget around $25,000 for exchange listing. Ideally we will raise enough during the ICO to setup an office with a world class dev team and give ourselves a ten year runway to build the project and fulfill it’s potential.

 

Income Report

  Year to date
  $ $
     
Income    
Token Crowdsale    
USD   54,023
Ethereum   0
Bitcoin   0
Adsense for Search   56
     
Direct income expenses    
Purchases 220  
Domain names 0  
     
  220  
Gross Income   53,859
     
Less Overheads    
     
Office Rent 0  
Salaries 8,516  
Advertising 3,264  
Mileage Expenses 0  
Repairs and renewals 0  
Telephone Charges 0  
Stationery, Printing & Postage 84  
Server costs 12,397  
Insurance 0  
Travel & Business Entertainment 710  
Paypal and Bank Charges 2,420  
Currency Exchange variation 441  
Legal and accountancy fees 1,620  
Depreciation 0  
   
Total Overheads 29,453  
     
     
Net Income   24,406

 

 

Balance Sheet

  $ $
Fixed Assets    
     
Plant & Machinery 0  
Motor Vehicles 0  
Office Equipment 0  
    0
Current Assets    
     
   
Sundry Debtors 0  
Bank Account 1 27,546  
Bank Account 2 1,005  
Bitcoin/Ethereum 0  
Paypal account 0  
    28,551
Creditors    
Trade Creditors 2,505  
Sundry Creditors 0  
Loan Account 0  
Taxation 324  
     
    2,830
Net Current Assets   25,722
     
Creditors after one year    
Long Term Loan   0
     
Net Assets   25,722
     
     
Capital & Reserves    
     
Share Capital   1,316
Dividends Paid 0  
Profit & Loss 0  
Income Report 24,406  
    24,406
    25,722