Financial Community Update (December 2021)

Pangolin Finance update (December 2021)

Hello Pango’s

Below is the final Finance update for 2021.

Treasury

Total PNG Total USD
Pangolin Primary Wallet 439,858 347,488
Pangolin Secondary Voting Wallet - Voting 0
Pangolin Working Capital - Market Maker 2,349,656 1,856,228
Pangolin Swap Fees 78,542 62,048
Pangolin Governance 12,001,371 9,481,083
14,869,427 11,746,847

Whilst our PNG holding is still very healthy, the depreciation of the PNG/USD has had a significant impact on the overall USD value in the last month. Including the month of December’s expenses and averaging the PNG over the last 3 months, we have a burn rate of just under 5 years without considering any income from swap fees or returns from Treasury.

Expenses

December expenses have increased significantly compared to prior months. This is largely due to the depreciation of PNG vs USD because much of the monthly expenses are USD based. We have also started formalizing the payment of employee costs through Deel, which facilitates payroll costs across most countries, however we needed to have these costs released in December for effective payment in January 2022.

MainAccount Jun 2021 Jul 2021 Aug 2021 Sep 2021 Oct 2021 Nov 2021 Dec 2021 Grand Total
Capital Expense Total 8,287 5,600 3,045 16,932
Gas Fees Total 332 1,440 720 3,516 2,778 8,785
General Expense Total 2,000 4,000 2,000 5,443 19,000 54,162 31,565 118,170
Marketing Total 85,653 6,316 8,279 26,963 5,696 21,471 71,566 225,944
People Costs Total 31,148 33,302 40,258 36,060 65,164 56,778 166,224 428,934
Professional Fees Total 7,848 20,776 39,035 50,543 83,791 48,532 61,982 312,506
Traveling Expense Total 4,946 2,215 19,329 26,489
Grand Total 126,649 64,395 89,904 128,735 184,917 189,718 353,443 1,137,761

2021 has been an exciting year for Pangolin. We have learnt much of what works and what doesn’t thereby giving us a strong base for 2022. A strong team has been built which has paved the way for further development of Pangolin and we continue to strive for a better, faster, easier Pangolin.

Kind regards,

MoC