📅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 taxes🇦🇺
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
Begin hiring for an extra Australian engineer
Prepare tax reports
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 🚀
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)
Last updated