DCG Q1 2022 Results

[glennaustin]

Attached are DCG Q1 results: Balance Sheet and Income Statement

Happy to answer any questions regarding the financials.

Please note that DCG Q2 2022 results will be posted by the end of July 2022.

 

[AgnewPickens]

What was the 69K in losses in USD related holdings from? Elon would be interested to know, I expect, as well, he likes that number.

 

[glennaustin]

What was the 69K in losses in USD related holdings from? Elon would be interested to know, I expect, as well, he likes that number.

Thank you for your question. The gains and losses were primarily from the lag between receiving the Dash from the network and then liquidating it in the open market over the course of a month. You will typically see losses during Dash down months as we "DCA" into the dollar and gains during Dash up months.

 

[AgnewPickens]

Thank you for your question. The gains and losses were primarily from the lag between receiving the Dash from the network and then liquidating it in the open market over the course of a month. You will typically see losses during Dash down months as we "DCA" into the dollar and gains during Dash up months.

Why was that not reported as an exchange loss? This is reported as a loss in the USD holdings. I mean, if you sold Dash even at a lower market price, the USD balance sheet should've still gone up.

 

[glennaustin]

Why was that not reported as an exchange loss? This is reported as a loss in the USD holdings. I mean, if you sold Dash even at a lower market price, the USD balance sheet should've still gone up.

Apologies, it's been a long day.

You are correct - the $69k loss is related to the USD investments that we made with a portion of our compensation reserve. We chose to invest in REITS, commodities, utilities and consumer products to try to generate yield in order to offset inflation. I mentioned this investment strategy in the last 2 quarterly calls that we had.

 

[AgnewPickens]

Apologies, it's been a long day.

You are correct - the $69k loss is related to the USD investments that we made with a portion of our compensation reserve. We chose to invest in REITS, commodities, utilities and consumer products to try to generate yield in order to offset inflation. I mentioned this investment strategy in the last 2 quarterly calls that we had.

I know you had a long stay at Consensus, just wanted to clarify, I know the equities markets are in a bear market. How does that affect DCG's compensation
reserves, we have had a string of ugly days in US equities.

 

[AgnewPickens]

Apologies, it's been a long day.

You are correct - the $69k loss is related to the USD investments that we made with a portion of our compensation reserve. We chose to invest in REITS, commodities, utilities and consumer products to try to generate yield in order to offset inflation. I mentioned this investment strategy in the last 2 quarterly calls that we had.

REITs, how much exposure does DCG have to them, we are on the verge of a housing collapse?

 

[AgnewPickens]

One thing that is good about DCG having paid taxes last year is that we should be seeing DCG getting tax credits
this year on its losses.