I'm definetly no accountant, but here goes.
From the last 4 quarters (US$'000)
$39,757 Revenue (Assume this is all from liquidty desk and sale of mined coins)
($35,132) Purchase of coins for Liquidity desk (subtract all)
($2,218) Cost of mined coins (subtract all)
This leaves us $2,407,000 , but now the hard part is to determine which parts of the overheads and staff costs belong to the liquidity desk.
($1,393) Staff costs, I assume at least half of this is Airpocket developers etc (subtract half $697)
($108) Advertising, be conservative and assume all was for liquidity desk (subtract all)
($684) Admin costs, be conservate and assume most was for liquidity desk (subtract $600)
($736) Fee's, be conservate and assume most was for liquidity desk (subtract $700)
Assumeing all other smaller items are one off's or not related to the Liquidity Desk.
This leaves us with US$302,000 Profit from the Liquidity Desk as a sole entity (Assuming the mining component is just break even).
Now its stated the revenues have been growing every quarter and increaed 185% from the last quarter. To me this seems to have a lot of potential in its own right. What would the market cap be if they were to drop Airpocket right now and focus on the liquidity desk alone?
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