๐Ÿ“…Jul 2022 Report

We are changing the way crypto gaming operates. We have full transparency with our community around the roadmap for the game and the underlying treasury.We are a proudly Sydney based team. This means we pay Australian taxes and must always liquidate and reserve at least 30% for corporate taxes๐Ÿ‡ฆ๐Ÿ‡บโ€‹

The following is used for educational purposes only and is no indication for accounting, valuations and/or taxation purposes. The numbers below reflect rough estimates or reflections of on-chain activity and are prone to mistakes.

Values are in $USD As of writing, 1 MATIC = $0.92 USD

July Goals

  1. Begin hiring for an extra Australian engineer

  2. Prepare tax reports

  3. Apply for grants - Marketing and Australian R&D grants

July Net Revenue

In June 2022, Thought Farm accumulated roughly $ 83,460 USD net revenue. To account for income tax easier, all revenue streams were converted into FIAT on a 2-3 day basis.

150,000 Farms Minted ๐Ÿš€

Farm NFT mintings accelerated at the end of the month contributing greatly to this month's revenue.

July Expenses

This month we have included some new software and security services to our infrastructure costs. We also purchased some streaming equipment to improve the quality of our live streams.

We've purchased CoinTracking to help with tax reporting and finance reporting.

Expenses include but are not limited to:

  • Technical infrastructure + services - $7.5K USD

  • Legal & Accounting - $3K USD

  • Salaries - $50K USD

  • CoinTracking - $700 USD

  • Contractors - $10K USD (PR, Communications, Art Design, Support Team)

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