4.8% - 23.2%
min - max equity offered
A$500,000.00 - A$3,000,000.00
min - max investment sought
min investment parcel
How much do you pay yourselves?
Hi Alex that’s a really important question.
The total employment costs for our staff and contractors for last financial year are included in the offer document in the “Historical Financials” section (pgs 38-41) and we have highlighted the remuneration for our Directors on page 41.
For easy reference, here is a summary:
Total employment costs include employees and contractors, superannuation and related on-costs ending 30 June 2018: $2,021,477.
The Director remuneration is set out as follows:
Executive Director - Jonathon Miller (Managing Director/): $150,000 plus superannuation
Executive Director - Robbie Mudrajiza (Head Product Engineer): $150,000 plus superannuation
Non-Executive Directors are paid $2,000 per month
I hope that helps and let me know if you have any other questions.
Replied to Alexandros Dermatis
I am considering an investment and have noted that the financial statements provided are consolidated with Bit Trade Ltd (UK) and Digital Blue Solutions Pty Limited (from 13 November 2017) and the financial statements for BTA Solutions Canada Limited are separately provided in the appendix B.
Since BTA Solutions Canada Limited is purely the entity that pays wages to customer service staff, holding no significant tangible assets, I can only assume that the loss reported by BTA solutions needs to be fully deducted from Bit Trade's profit. Unless you disagree?
That being the case, the 'consolidated' P&L of Bit Trade Limited includes $525,367 for asset impairment. Is there a reconciliation of this as I am hoping to see that Bit Trade Limited have impaired the value of the loan made to BTA Solutions Canada Ltd as it would have been needed to meet staff wage costs only (i.e. - should be expensed in the consolidation).
Hi Simon thanks so much for your questions.
The financial statements prepared for the year ended 30 June 2018 have been prepared according to Australian Accounting Standards on a consolidated basis with entities that Bit Trade had 100% ownership of. As BTA Solutions Canada only joined the consolidated group after 30 June 2018 its accounts are not included in the consolidated accounts. The 2018 accounts for this entity were included in the Appendix for potential investors to review.
For the 2019 financial year, the BTA Solutions Canada will be consolidated with the parent entity, Bit Trade Limited. Therefore, inter-entity loans will be eliminated on consolidation and costs of Canada will be expensed accordingly.
The consolidated P&L at 30 June 2018 for Bit Trade includes an impairment of $525,367 for intangible assets which is not connected with BTA Solutions Canada. These intangible assets are Cryptocurrencies that Bit Trade Limited held on its own account and were revalued to market value at 30 June 2018.
I hope this makes it clearer and I’m happy to answer any other questions you might have.
Replied to Simon Bird
Bit Trade Offer Document
This is the Bit Trade Limited CSF Offer Document as at 13 November 2018.Download
The investors below have committed capital to the business in this funding round.