Karma 2018.Q3 Financial Report

Hello, dear friends, George is online!

It’s been a quarter since our 2018.Q2 report, so let’s update the numbers.

We will continue adding the reports to the Google Spreadsheet, so everybody can enjoy the comfortable data access. Here are some comments on the doc:

Photo by Thought Catalog on Unsplash

Cutting The Expenditures

We’re constantly cutting the expenditures to become more effective: it’s 1.6 cut since Q2. The most significant cuts are:

• Exchanges. We still think those 0.5M+ listing fees for the non-regulated and non-decentralized exchanges are not adequate. Even the fiat listing fees are smaller, but the quality is much higher. The only way we would like to be listed is for free or with minimum fee covering the gateway development and KYC/AML processing.
• Production subcontractors. As we’ve told before — our strategy is to hire a core dev team in-house, because it’s much more effective. And we’re keeping our word.

Our burn rate is still lower than 200k, as we’ve promised in our Whitepaper.

Raising The Incomes

We’ve rebalanced our loans investments portfolio to gain more income, and we’re still doubling the income every quarter since Q1.

Getting To Self-Sustainability

We have a conservative projection of getting self-sustainable in 2019, see the image below. We plan to become self-sustainable in Q3.2019, then it will be time to re-invest almost all the net profits into more PR/marketing activities. At that time we will have significant traction and public-tested product, which will distinct us from the rest of the market.

Projection, all numbers in USDs.

Anyway, raising new funds to boost the ecosystem development, is one of our core tasks in progress.

Cheers
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