Good morning everyone I trust you are safe and well and entering the Christmas period with a sigh of relief that we are almost through this Pandemic and life is returning to normal. I for one am absolutely beside myself that we can now venture out in the great outdoors again!
Tonight as we draw close to the end of the year I thought I would provide a financial update on where we have spent funds and how much we have earned to date despite there not being much to report on I think it's still important to provide a community update.
Our current total sales to date are $US4800 with a mention that we also have 1.45 BNB stuck on our sales tool operated by Cointool. This has also created an issue where people who purchased through cointool have received Skippy and are able to draw down on the LP on pancakeswap and we are unable to access the funds collected on Cointool.
I have has a number of conversations with Cointool in the access of these funds but as it stands due to us not meeting the minimum 10BNB the contract won't provide us with the BNB. Due to Australian regulations we couldn't do an ICO so were using it as a direct sale so we didn't need LP. The service doesn't recognise if you have sold your token or not and will just not pay you your funds. At no point was this clearly communicated.
Fortunately it is only 1.45BNB worth of Skippy and I will commence covering these costs which I have already powered down some hive to do so.
Cointool costs
In total it costed about 3BNB to use cointools service which in hindsight was an expensive service to use. Had we raised the 10BNB it would have been worth it but due to not making the cut it wasn't entirely worth using the presale feature as a sale.
However, it is important to note that cointool has a backend and enables you to work with your token once live such as activating and deactivating reflection so it is still a useful investment.
Advertising
Advertising on facebook group was 4BNB however, we only paid 2BNB as I had struck a deal with the advertiser due to the high risk and what was being asked we only paid a total of 2 BNB. The advertiser assured us we would reach our target unfortunately they were not able to get the support they thought for our token and as a result we haven't provided the rest of the payment.
DAPP listing
Our Dapp listing only came to $50 which was a pretty good deal for some promo but again has failed to draw in any crowds into purchasing the token.
Website development and domain name has come in at around $300 and it is important to note that we might be getting an upgrade to it soon from another party but we are at the wait and see stage.
At current there is 2.77 BNB pooled which would have been more but we hve had a handfull of sellers who have dumped their token.
At current financially we are tracking ok despite a few set backs which I had been planning for. Due to the nature of block chain assets and the sector I have been going slow mainly for the reason if things go belly up I would still be able to cover losses. My primary focus is ensuring people who have believed in the project aren't left high and dry or me with a massive debt to pay back.
That's all from me for now and I would recommend staying close by because I will hopefully have some further good news in the not too distant future.
This is not financial advice and readers are advised to undertake their own research or seek professional financial services