đ Q2 2024 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 taxesđĻđēâ 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
Quarterly Updates
Q2 of 2024 was a successful quarter. Most noticeable changes during this period was the release of the Lifetime Banner. We had an unexpectedly large amount of players purchase the banner which led to a very profitable May â¤ī¸ June & July we saw lower revenue than average, mainly offsetted by the banners that were purchased in May. At the end of Q2 we parted ways with a long time employee Romy. In the same month, we hired a new software engineer (Elias).
Q2 Net Revenue
In Q2 2024, Thought Farm accumulated roughly $183.93K USD net revenue. To account for income tax easier, all revenue streams were converted into FIAT on a 2-3 day basis.
Q2 Expenses
Expenses accumulated roughly $ 159,200 USD expenses:
Technical infrastructure + services - $7K USD
Legal & Accounting - $2.7K USD
Salaries & Contracting - $134.4K USD
Advertising & Marketing- $5.7k
General Expenses - $9.4k
Sunflower Land Treasury
Sunflower Land has sufficient capital and runway to fund our future business plans.
Additionally, the project is eligible for tax rebates NSW (10%) and Federal (30%) for qualifying expenditure in Australia.
Both incentives will provide a significant cash flow boost from previous expenditure, and ongoing into the future.
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