November 2018 Accounts

Website Cryptocurrency Mining

November 2018 Accounts

December 6, 2018 Accounts News 0

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. For November server costs were slightly down which is great news, email provider costs (Sendgrid) were up but should return to <$100 next month. Travel was the show in Lisbon which again should return to $0 for December.  We need to bring costs down to be inline with a minimum 12 month runway with the priority going on infrastructure. Sale of cryptocurrency is Ethereum, we are not and do not plan on selling JSE tokens on exchange.

Market conditions are very challenging and our priority is to keep going and persevere. Many projects will have high overheads and be in a much worse position during this market downturn. It will be the projects that can adapt and keep pushing forwards that will prosper in the long term.

Token Price @ 30th November 2018 $0.001826
Market Cap @ 30th November 2018 $809,885

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

 

Income Report

Year to date
$ $
Income
Sale of cryptocurrency 20,345
Direct income expenses
Purchases 218
Domain names 0
218
Gross Income 20,126
Less Overheads
Office Rent 0
Salaries 12,266
Advertising 24,588
Press Releases 3,121
Mileage Expenses 0
Repairs and renewals 0
Telephone Charges 16
Stationery, Printing & Postage 779
Server costs 5,318
Email provider 255
Insurance 0
Travel & Business Entertainment 2,108
Paypal and Bank Charges 39
Currency Exchange variation 829
Legal and accountancy fees 981
Depreciation 211
Total Overheads 50,511
Net Income (30,385)

 

Balance Sheet

$ $
Fixed Assets
Plant & Machinery $0
Motor Vehicles $0
Office Equipment $1,713
$1,713
Current Assets
Sundry Debtors $0
Bank Account 1 $6,754
Bank Account 2 -$10,610
Bitcoin/Ethereum $0
Paypal account -$234
-$4,090
Creditors
Trade Creditors $2,324
Sundry Creditors $0
Loan Account $0
Taxation $6,517
$8,840
Net Current Assets -$11,217
Creditors after one year
Long Term Loan $0
Net Assets -$11,217
Capital & Reserves
Share Capital $1,316
Dividends Paid $0
Profit & Loss $17,852
Income Report -$30,385
-$12,533
-$11,217