📅Q2 2024 Report
Last updated
Last updated
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
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 ❤️ 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).
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.
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 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.
