September 2018 Accounts

Website Cryptocurrency Mining

September 2018 Accounts

October 24, 2018 Accounts News 0

Accounts for September. We had 128 ETH contributed to the ICO in September. The ICO closed at 551 ETH 44,790,780 JSE, the final figures will be displayed in Octobers accounts.

Marketing spend and travel expenses were up because of the shows in London this month. This included some products like the backboard and promotional desk which could be reused at other conferences in the future.

No sign of a recovery in the general cryptocurrency markets at this stage but we are still confident in the long-term prospects and continue to hold the majority of our funds in Ethereum.

 

Income Report

Year to date
$ $
Income
Sale of cryptocurrency 15,051
Direct income expenses
Purchases 185
Domain names 0
185
Gross Income 14,866
Less Overheads
Office Rent 0
Salaries 6,659
Advertising 22,802
Press Releases 3,121
Mileage Expenses 0
Repairs and renewals 0
Telephone Charges 0
Stationery, Printing & Postage 717
Server costs 3,437
Email provider 66
Insurance 0
Travel & Business Entertainment 718
Paypal and Bank Charges 25
Currency Exchange variation 753
Legal and accountancy fees 635
Depreciation 80
Total Overheads 39,014
Net Income (24,148)

 

Balance Sheet

$ $
Fixed Assets
Plant & Machinery $0
Motor Vehicles $0
Office Equipment $1,844
$1,844
Current Assets
Sundry Debtors $0
Bank Account 1 $9,430
Bank Account 2 -$8,540
Bitcoin/Ethereum $0
Paypal account $0
$890
Creditors
Trade Creditors $2,148
Sundry Creditors $0
Loan Account $0
Taxation $5,567
$7,715
Net Current Assets -$4,980
Creditors after one year
Long Term Loan $0
Net Assets -$4,980
Capital & Reserves
Share Capital $1,316
Dividends Paid $0
Profit & Loss $17,852
Income Report -$24,148
-$6,296
-$4,980