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May 2023 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 = $0.88 USD
- 1.Dawn Breaker Season Launch
- 2.Poko partnership and integration of their on-ramp aggregator product
- 3.Millions on Mars Crossover Event
- 4.Polkerstarter Collaboration - Seed Seeker Quest
- 5.3 Day Hackathon to build RPG island
- 6.Introduction of Area-of-effect items (AOE)
- 7.Completion of Referral Competition
- 8.10 x new Bumpkin levels
In May 2023, Thought Farm accumulated roughly $ 53,500 USD net revenue. To account for income tax easier, all revenue streams were converted into FIAT on a 2-3 day basis.
We successfully achieved startup credits for our infrastructure services which cuts down the technical expenses significantly.
In May 2023, expenses accumulated roughly $ 62,000 USD expenses:
- Technical infrastructure + services - $3.1K USD
- Legal & Accounting - $1K USD
- Salaries - $46.1K USD
- Jigger - $1K USD
- Contractors - $7.8K USD (PR, Communications, Art Design, Support Team)
- Equipment Costs - $2k
- Travel Costs - $1.5k
Sunflower Land has sufficient capital and runway to fund our future business plans.
The recent announcement of the Digital Games Tax Offset in Australia means Sunflower Land will receive a 30% refundable tax offset on all onshore gaming expenditure, including all game development related salaries from 1 July 22.
Sunflower Land is also eligible for an additional 10% Digital Games Rebate on expenditure dating back to February 23 and into the future.
Both incentives will provide a significant cash flow boost from previous expenditure, and ongoing into the future.
Last modified 5mo ago