No Such lAbs (S.NSA), April 2017 Statement
| S.NSA incoming and outgoing | ||||
|---|---|---|---|---|
| Incoming | Outgoing | |||
| Description | Value | Description | Value | |
| New orders | 0.1980573 | 256 GB ECC RAM box | 0.38090752 | |
| Postage | 0.03111867 | |||
| Total | 0.1980573 | Total | 0.41202619 | |
| S.NSA assets | |||
|---|---|---|---|
| Account | 01.04.2017 | Net change | 31.04.2017 |
| Cash | 436.68813107 | 0.21396889 | 436.47416218 |
| Tangibles | 8.20505811 | 6.5730565i | 1.63200161 |
| Intangibles and goodwill | 28.16739363ii | 0.38090752iii | 28.54830115 |
| Total assets | 466.65446494 | ||
| S.NSA liabilities | |||
| Account | 01.04.2017 | Net change | 31.04.2017 |
| Shareholder equity | 473.26423889 | 6.60977395 | 466.65446494 |
| Total liabilities | 466.65446494 | ||
S.NSA has a total of 4`737`075 authorised shares outstanding. The total assets per share implied value is thus 0.00009851 BTC. The cash+tangible assets per share implied value is thus 0.00009272 BTC.
S.NSA has Special Stock Warrants outstanding issued as per the IPO agreement, as follows :
| # | Fingerprint | Shares | BTC | Par |
|---|---|---|---|---|
| 1 | 17215D118B7239507FAFED98B98228A001ABFFC7 | 3`315`952 | 331.5952 | 1 |
| 2 | 6160E1CAC8A3C52966FD76998A736F0E2FB7B452 | 1`421`122 | 142.1122 | 1 |
| T | 4`737`074 | 473.7074 | 1 |
As you perhaps are aware, we had some fun with the "area of expertise in mathematical cryptography one expects to find" this month. Nevertheless,
———NSA will continue its work, designing and manufacturing the future of the Republic. In the meantime, remember - if you are running a machine without FUCKGOATS, you are running an incomplete machine.
- We conducted a full tangibles inventory for the new year. The resulting true value thereof (1.63200161) is significantly below the accounting value as reflected in these reports (8.20505811). This forces us to then report a significant write-off.
The explanation for the discrepancy is credible if indistinct : various items, such as prototypes, materials and etc that had been acquired or produced at some expense and then used during the year were either discarded in the natural course of business or else simply worn or otherwise devalued. This then would be the shop decay of tangibles. Certain items with a principally fiat driven value were devalued in Bitcoin by the simple evolution of the exchange rate (Bitcoin actually tripled in the interval). This then would be the back office decay of tangibles. Add to these the compounding of errors over time due to the accounting equivalent of dead reckoning (ie, we're considering deltas month to month, rather than actually do inventory each month) and the pie is served.
The situation is unfortunate, but as far as a hardware shop is concerned, unavoidable. The parallels with BitBet's misadventures last year about this time should be either amusing or instructive, depending on your seating. [↩]
- We reported a 0.5845636 increase in the I&GW line for March, which was simply incorrect (and an obvious munging of the cash flow net movement). This forces us to revalue the starting figure for this month, and is the explanation for the discrepancy with the ending figure for last month.
The fact that no one bothered to either notice or point out the error -- while we know that these reports are rather amply read -- should perhaps force us to revalue our ideas about the basic numeracy of the general population. These sheets aren't here for to clap at like seals, yo! [↩]
- The rationale for this value is that since S.NSA is providing phuctor as a free (and very much talked / untalked about) service to the world, the costs it incurs doing so accrue as a sort of diffuse benefit to it in [what's left of the] the hearts and minds of the general public. "It's karma, Kramer!" if you prefer.
We're obviously not counting in this figure most of the costs, which apparently are something to the tune of 8 million dollars. How the fiats have fallen! [↩]
