Karma 2018.Q4 Financial Report

Hello, dear friends!

Let’s discuss financial results of last quarter 2018 . You can see all data in comfortable Google Spreadsheet view.

Photo by Markus Spiske on Unsplash

Here are some key points:

• We all know that crypto is still in crisis. This crisis was necessary to reevaluate many processes and cut the useless things. We're not going to sell our BTC at the moment, because we're sure that the Ethereum-based ICO hype is over, and BTC has good chance to restore the position, due to the increasing adoption.
• In Q4 we were developing our own blockchain (Karma 3.0) and mobile apps for iOS and Android. Q1 of 2019 is the last period when our expenses on subcontractors are high, from Q2 it will be close to 0.
• The last part of tokensale bonus for the team was paid in Q4, from now on it will be equal to 0.
• We’ve added the “Loan Servicing” line to the report. The deals' volume on our platform has increased in Q4 and is still growing. So there is a need to pay to originators for the credit portfolios preparation and servicing.
• Lawyers' expenses have increased a little. Foreign investors will be able to use our platform very soon, and that means all legal things have to be set. Right now we're preparing the documents for our own license to be able to exchange crypto to fiat in European Union.
• Operational expenses are on the same level: 113k USD/month
  (as we planned in White Paper).
• Operational income showed 6.5 times growth comparing to 2018.Q1.

What's Next?

• Our main focus now is to make the existing product more viable to the lenders and borrowers and to increase the adoption.
• That's why we're now working on establishing a partnerships with financial institutions in different countries. They would be able to use Karma as a p2p-platform as a liquidity providers, lenders or a borrowers.
• B2B-marketing is more efficient at the first stages of growing the product, because it allows to have an access to the existing communities and cash flows.

Cheers ^_^