DCG Q3 2024 Financials
- Thread starter bfoster
- Start date
Debt is evil and for what purpose if you have a dao?
The credit card was opened so that we could receive discounts on our AWS costs. We do not usually carry a balance but having insufficient funding over the last few months, we needed to carry a balance short term until we could pay salaries.
This is the same level of reporting we have been doing for years; what specific info are you seeking?
Who made the final decision to get a loan and who are the legal entities on both sides of the loan?
Does anyone at DCG feel that such a move should of first gone to a dao vote?
The management team made the decision to get the credit card because it provides substantial discounts on our AWS costs. We have only been recently not been paying it down so that we could maintain the current team and avoid delays in delivering Evolution; it will be paid off as soon as we have sufficient funding to do so. As with most operating decisions within DCG, I do not feel this was a decision that needed to be voted on by the network.
Well I don't know, it exposes an appetite for risk that MNOs might be concerned with.
On the one hand there is the AWS discounts but on the other side there is a pending funding crisis.
It could be said that DCG funding proposals and supplementals are using a funding crisis to intimidate MNOs. Such a strategy has a material cost to non-DCG contractors.
This is not an intimidation tactic; it is simply a cost savings strategy that has saved us thousands of dollars and we needed to leverage the credit to ensure we had enough funds to pay payroll. We have every desire to pay this down ASAP.
qwizzie
Well-known member
Remember that this is DCG Financials of Q3 (July - August - September).
By now (November) DCG financials are most likely even in worse shape.
See : https://www.dashcentral.org/p/DCG-SUPPLEMENTAL-OCT-24
Current date : 8th of November 2024
I hate to say the obvious, but DCG need to cut expenses and bring their net income to 0 (instead of negative 100K).
I also think they should get rid of that Creditcard loan (21K) at some point.
By now (November) DCG financials are most likely even in worse shape.
See : https://www.dashcentral.org/p/DCG-SUPPLEMENTAL-OCT-24
Current Dash price : $23.30
Current date : 8th of November 2024
I hate to say the obvious, but DCG need to cut expenses and bring their net income to 0 (instead of negative 100K).
I also think they should get rid of that Creditcard loan (21K) at some point.
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