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December Financial Update

by Justin Ford, Chief Financial Officer

15th January 2018

Greetings and hope everyone had a wonderful holiday season along with a safe and happy start to 2018. Below is the update for December and YTD from April through December first three quarters of the current fiscal calendar of 2017. As it shows the high level of expense this month we have stocked ahead on promos for 2018, buttons, as well as some 10th anniversary expenses. Cash position is at $1,660.51 dipped below where I am trying to keep our funds at $2,000 to handle any unexpected increase in the fees to operate the website and other basic functions. The debt that is listed under the AR category is current and on track per the agreed upon payment schedule as announced in a previous article.

Work on the incorporation is proceeding and we hope to have news for the community soon. There are a few major steps involved which are: First, file entity application status with a State jurisdiction; Second, file with the IRS for a Federal Tax Identity Number (EIN); Third, file with the IRS for tax exemption status. More on this soon our team is hard at work going through the documents that need to be prepared before seeking community input and comment period.

Like always, if anyone has any questions, comments, or concerns feel free to drop me a line either in the article discussion thread or through a private message. The primary goal from last April of 2017 has been as much transparency as possible without giving confidential non public information on any member of the community or their financial contributions.

Balance Sheet:


Income Statement:


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