October 2019 Accounts

Website Cryptocurrency Mining

October 2019 Accounts

November 18, 2019 Accounts News 0

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 affected by the changes on LATOKEN’s platform which has prevented the buy back bot from functioning. This isn’t an easy fix because they are using websockets for order placement on the new system and have no external API available. We are currently placing buy orders manually but we ideally need a programmatic solution ASAP.

Token Price @ 31st October 2019 $0.000271
Market Cap @ 31st October 2019 $120,277

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

Income Statement

Year to date
$$
Income
Sale of cryptocurrency5,139
Advertising income0
Direct income expenses
Purchases294
Domain names10
304
Gross Income4,836
Less Overheads
Office Rent 0
Salaries0
Advertising200
Press Releases0
Mileage Expenses0
Repairs and renewals 0
Telephone Charges21
Stationery, Printing & Postage0
Server costs2,918
Email provider90
Insurance0
Travel & Business Entertainment1,220
Paypal and Bank Charges7
Currency Exchange variation1
Legal and accountancy fees774
Depreciation160
Total Overheads5,390
Net Income(554)

Balance Sheet

$$
Fixed Assets
Plant & Machinery$0
Motor Vehicles$0
Office Equipment$1,283
$1,283
Current Assets
Sundry Debtors$0
Bank Account 1-$42
Bank Account 2-$2,084
Bitcoin/Ethereum$0
Paypal account-$226
-$2,352
Creditors
Trade Creditors$2,277
Sundry Creditors$0
Loan Account$220
Taxation$0
$2,497
Net Current Assets-$3,566
Creditors after one year
Long Term Loan$0
Net Assets-$3,566
Capital & Reserves
Share Capital$1,316
Dividends Paid$0
Profit & Loss-$4,328
Income Report-$554
-$4,882
-$3,566