Karma 2020.Q3 Financial Report
Published in
Nov 4, 2020
Hello, dear friends!
Let’s discuss our financial results for the 3rd quarter of 2020. You can check the detailed data in our comfortable Google Spreadsheet, including historical data by quarters since 2018.Q1.
Key Facts:
- Our listing fees hit the top since inception, and we've quickly recovered after the Corona pandemic.
- Our total net quarterly loss is $68,218, which is 32% better than the previous quarter. It is the best result since inception: x2 better than 2019.Q3 and x8 better than 2018.Q3.
- Quarterly operational expenses have been cut 25% QoQ because of the final pack of lay-offs. We burnt as low as $78,171, which is seven times better than 2018.Q3.
- Our runway time is one year+ considering our burn rate, working capital, and cash on hands.
- We're still persistently increasing our turnover capital from retail investors, no matter the global economic turmoils. QoQ growth was 44%.
Plus, we finally got listed at the Russian Central Bank's investment platform operators registry. It allows us to operate legally and increases our trustworthiness.
And we got all the approvals and comments from the EU lawyers and government bodies to start trading our digital securities at the Tokenomica this year. It enables liquidity for our shareholders and provides a legal tool to attract new investors, both retail and institutional.
What next:
- Our focus is to grow the loan volume to become self-sustainable. The target is $1M/mo, and we made north of $350k in October-2020.
- There will be more news on the OTC trading launch and our partnerships with large fintech partners.
Cheers ˆ_ˆ
