Why release a transparency report?
Electric Coin Co. (ECC) is committed to openness and transparency — as we help evolve and support the Zcash digital currency, and in support of our mission to empower everyone with economic freedom and opportunity. This transparency report details company income, expenses and use of funds during Q3 of 2019.
Key takeaways:
- ECC operated close to break even in Q3 2019, as we received an average of $750,000 a month and realized approximately $744,600 in expenses. This includes employee incentive compensation paid in ZEC at the Q3 ZEC price of roughly $61.28 (the average ZEC daily closing coin price during the period).
- At the end of Q3, the company held approximately $5.6M in USD and ZEC based on the September closing price of $38.72. ECC’s current holdings are approximately $4.2M in USD and ZEC.
- As a result of the market uncertainty, the company continues to tightly control spending in a number of areas including PR, trademark protections, engineering, event sponsorships and other non-critical activities.
Click on the image below to download the full ECC Transparency Report for Q3 2019
