I’m confused on how the SEC filing says a ($2,000,000) net loss. Does that mean XY blew all the money from the token sale? Please tell me not.
@JimmyHoff Hey there Recon here, one of the regulars, Where are you reading/seeing a 2 million dollar net loss? I see that the previous year(2017) they had a $2 million dollar net deficit, but in 2018 saw a $1.7 million dollar net increase, leaving there working deficiency at around $240k. The Token sale saw around $15.9 million in sales, and the Reg A+ offering (SEC filing) saw around $6 million, sale of XY findables(Sentinels, Geomining kits) make up the rest of the gross income. But they had $2mil in r&d cost, $14mil in marketing/advertising cost, $6mil in admin/payroll/consulting cost, and remainder in rent/general expenses. So they re-invested the Gross income into the business, didn’t just blow it like on a Ferrari collection. At this time the company is negative net profit, but have paid their loans/debts in full as per the K-1. This was an excellent year for them in terms of starting up. This is normal if not above average for liquidity and way above average for growth. Things are looking good! And remember that a huge amount of growth has happened in FY19, I think we will see XY in the black this year and things growing exponentially more. A good way to look at this is, Elon Musk’s Tesla Corporation did not get into the black for yearly profit until 2016 and their IPO was in 2010. But in 2019 they are now looking at a valuation of $4billion. Clear skies will come as long as you are willing to stand in the rain for a while. XYO to the Moon!