September 2022 Treasury Report

Reflecting on last month’s finances

September’s report is here, and we’ll be providing a general overview of last month’s financial activity. You’ll find a breakdown of our multi-sig balance, including our off-chain cash balance, and our closing thoughts.

This treasury report is for the period between August 15th, 2022 and September 15th 2022.

LFG!

Overview

For the month of September, the company’s on-chain cash balance went from US$ 1,096,784.64 on August 15th to US$ 1,062,740.12 on September 15th — a 3.10% decrease over the period.

Our off-chain cash underwent a 19.73% decrease during the same period, going from US$ 68,656.64 on August 15th to US$ 55,113.54 by September 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 August 15th to September 15th term was US$ 47,587.62.

Thoughts on Cash Burn

Since then, we’ve made some adjustments to the budget, and project our newly budgeted burn rate to give us T-minus 34.9 months of runway, counting down from today. However, extrapolating September’s actual burn rate over the life of the business 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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