Service provider financial report – month to 31 July 2018
This is a summary of eosDAC’s financial balances held by Incommsec Ltd and the transactions conducted by them on behalf of eosDAC during the month of July 2018.
This is the report of an eosDAC service provider; it does not report on eosDAC’s cryptocurrency balances or on-chain transactions, which are conducted by the DAC itself.
The cash at bank at 31 July 2018 was £656,360, the product of gifted capital preceding periods. Expenditure in the period was £16,865, comprised of: server rental expense of £7,933; international travel with respect to important industry conferences in Korea and China in the amount of £3,599; consultancy fees of £3,790 including inter alia a fee to a blockchain coding consultancy in the USA; agency fees being Incommsec Ltd’s fee of £777, representing 5% + VAT of all payments; £202 for accountancy fees and other small expenses.
Profit and loss for the period 1 July 2018 – 31 July 2018
The cash balance is adequate to meet payables and forecasted expenditure. There are no cashflow concerns foreseen.
Balance sheet at 31 July 2018
