October 2022 Treasury Report
A summary of last month’s finances
In this post, we’ll be providing a general overview of October’s financial activity. You’ll find a breakdown of Neftify’s multi-sig balance, including off-chain cash balances, and closing thoughts.
This treasury report is for the period between September 15th, 2022 and October 15th 2022.
Overview
For the month of October, the company’s on-chain cash balance went from US$ 1,062,740.12 on September 15th to US$ 998,090.12 on October 15th — a 6.08% decrease over the period.
Our off-chain cash underwent a 40.59% increase during the same period, going from US$ 55,113.54 on September 15th to US$ 77,488.63 by October 15th.
Overall, Neftify’s budgeted monthly burn rate for September was US$ 42,566 — 2.83% of all capital raised. However, the actual burn rate for the September 15th to October 15th term was US$ 42,274.91.
Thoughts on Cash Burn
Our budgeted burn rate gives us T-minus 31.9 months of runway, counting down from today. However, extrapolating October’s actual burn rate over our current cash balance gives us 23.5 months.
About Neftify
Neftify is building infrastructure for people and businesses to build custom financial interactions and payment experiences into their tech stack.
For more information , visit our website or check out the official Twitter. If you have any questions, send a DM, and a team member will answer shortly. Also, make sure to join our newsletter!
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