Financial statement and upcoming changes to this newsletter
Hello friends!
I am making a few changes to the newsletter/podcast, so this issue will only cover the current financial stats. Tomorrow (Wednesday), I will record a conversation with Colin on the current macroeconomic landscape, and Thursday, we will have a core team meeting where we plan on discussing updates from the team.
I will share a summary of these conversations, along with internal updates and details of last month’s BD progress, in the next post.
Separately, I will start publishing a few editorial pieces about the web3 ecosystem through this Substack.
If you’re interested in opportunities to join internal projects and conversations, Deep Work-related calls and workshops are on this Google calendar.
Total Treasury Balance: $7,645.00 (0.12 BTC)
I de-risked most of our crypto holdings to ensure we have enough US-denominated runway (for software subscriptions and internal payments) for the next 12 months. The liabilities are outstanding reimbursements and payments for software.
In February, we completed one website project led by Anya. Our runway looks good, and if we have one project of this scope per month, we will officially break even.
Detailed business report
I will switch Deep Work Network Ltd. from a BVI Ltd. entity to a Delaware LLC to streamline software payments. This might mean that I will need to KYC everyone who gets paid.
February
Treasury & Finance
Total Treasury Balance: $7,645.00 (0.12 BTC)
Revenue: $9960 (Fyde)
Profits: $880
Internal payments: $0
Operational costs: $550
Additional costs: $597 (referral fee for Fyde)
BD & Sales
We had four client conversations from recommendations and ambassadors. We are on the right track; I will share more details in the next internal update.
Show rates: 4
Schedule rates: 3
Close rates: 0
Have a nice day!
Andrej