Author Topic: Re: [LTC-GLOBAL] - ART - building a open art studio [news for week 2015-10]  (Read 36407 times)

Offline EskimoBob

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Re: [LTC-GLOBAL] - ART - building a open art studio [news for week 10]
« Reply #30 on: March 09, 2013, 06:17:24 PM »
I have bought back some of the shares.
This has resulted about 2000 LTC net and increased our LTC position to about 4700 LTC.
Number of outstanding virtual shares is reduced to 100K

(from bitcointalk https://bitcointalk.org/index.php?topic=130947.msg1606794#msg1606794 )
Quote
Correct, my wording was off. Maybe this simplified example helps to understand, what I meant. :) 
Sold 1000 at 1, received 1000 coins. We have 1000 shares on one side and 1000 coins at the other side. 1:1
Bought back 100 at 0.4, spent 40 coins from previously received 1000. Those 100 shares are no longer in the books as outstanding shares.
Now we have 900 shares on one side and 960 ltc at the other side.
Soup got thicker - 1,0666667 coins per share and not 1, as before.
Correct wording is probably that we increased the available coin per share.
« Last Edit: March 10, 2013, 10:02:00 AM by EskimoBob »

Offline EskimoBob

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Re: [LTC-GLOBAL] - ART - building a open art studio [news for week 08]
« Reply #31 on: March 13, 2013, 11:30:07 AM »
We started our first "burn in" last night, tomorrow we are going to run first test firing to make sure everything is OK.
After that, we are in business :)

Offline itsokrelax

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Re: [LTC-GLOBAL] - ART - building a open art studio [news for week 08]
« Reply #32 on: March 13, 2013, 01:23:17 PM »
We started our first "burn in" last night, tomorrow we are going to run first test firing to make sure everything is OK.
After that, we are in business :)
Awesome! Post pics!

Offline EskimoBob

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Re: [LTC-GLOBAL] - ART - building a open art studio [news for week 08]
« Reply #33 on: March 15, 2013, 12:58:51 PM »
Awesome! Post pics!

This kiln has a tiny "spy hole" so I can actually see inside. I'll try to get a shot from there. It needs to heat up above 450C (840F) or so before the heating wires start to glow and I can actually see inside.
Otherwise it's as boring as a huge toaster with closed lid, making occasionally quiet clicking sound (relays or something).

Offline itsokrelax

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Re: [LTC-GLOBAL] - ART - building a open art studio [news for week 08]
« Reply #34 on: April 01, 2013, 02:41:17 PM »
Any updates?

Offline EskimoBob

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Re: [LTC-GLOBAL] - ART - building a open art studio [news for week 08]
« Reply #35 on: April 04, 2013, 07:22:31 PM »
Any updates?

I'll send out the March report on this weekend.  Sorry for the delay.

Offline EskimoBob

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Re: [LTC-GLOBAL] - ART - building a open art studio [news for week 08]
« Reply #36 on: April 07, 2013, 08:33:22 PM »
Quote
I am still having little problems figuring out the accounting software and using it for proper reporting.
In March, we sold only 57,90€ worth of firing services and this generated 121.42 LTC.  We averaged only 21 paid liters per load. I guess it will take longer than I expected to get enough clients and increase the workload for the kiln.

Balances on March 31
BTC: 81,844 (5976,25 EUR)
LTC: 121.42 (81,57 ERU)
Fixed assets (klin etc): 3510 EUR
Total assets: 9567,82 €
Outstanding virtual shares: 99000

What's up in April:
People started to ask for ceramic workshop so we decided to add this to our "menu". This will be generating work for the kiln and pottery wheel in April.

Offline EskimoBob

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Re: [LTC-GLOBAL] - ART - building a open art studio [news for week 08]
« Reply #37 on: May 04, 2013, 04:57:04 PM »
Here is the report for April 2013

We sold more firing service but still not what I like to see. Total sales, with wheel rental:

Code: [Select]
April sales               €116,80

Expences:                   €0,00
Depriciation               €44,00

Net Income for the preiod: €72,80

Asstets held:
Assets
      Current Assets       € 0,00
            Petty Case   € 116,80
      Fixed Assets
            Kiln 01    € 2 282,00        
            Wheel 01   € 1 184,00        
      Investments
            Brokerage Account
      81,8444 BTCw     € 8 903,03
     121,42 LTCw         € 382,15

Total Assets          € 12 867,98

Equity   
Equity                     € 0,00    
      Share Capital    € 4 303,70    
Retained Losses          € 102,20
Unrealized Gains       € 8 666,48
Total Equity          € 12 867,98
Exchange rates for the report:

1 BTCw € 108,78
1 LTCw € 3,14733

Offline trommie

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Re: [LTC-GLOBAL] - ART - building a open art studio [news for week 08]
« Reply #38 on: May 04, 2013, 06:24:13 PM »
Hi EskimoBob,

How do you intend to increase the use of the kiln?  How much extra work do you expect from the ceramic workshop? Is the revenue from the ceramic workshop a part of this offering or just the follow-on work from use of the wheel/kiln?

Cheers

Offline EskimoBob

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Re: [LTC-GLOBAL] - ART - building a open art studio [news for week 08]
« Reply #39 on: May 08, 2013, 07:07:29 PM »
Hi EskimoBob,

How do you intend to increase the use of the kiln? 
Selling, selling and more selling. When people are getting used to us, repeat business will keep us busy. But stuff like trust and reputation takes time. I am not going to chicken out now.

How much extra work do you expect from the ceramic workshop?
This is actually going nicely for now. We have some regulars and all the stuff made in the workshop gets fired at our site. I expect this to become a important part of firings but this is also taking time to build up a good momentum.

If we get enough work for the kiln, I have to increase the price but stay below the going rate in other shops.
Summer is going to be interesting because most shops stop workshops (lessons with instructor) and only work on their own stuff and/or take long vacations.
I am hoping this will give us more customers. We will see. 

Is the revenue from the ceramic workshop a part of this offering or just the follow-on work from use of the wheel/kiln?

Cheers

AT the moment only from firing and the wheel. Wheel is getting very little use at the moment but I have few lessons lined up so it will be getting better. This will also feed the kiln, btw. :)

As you see, we have about 10769 EUR (mostly in BTC so it fluctuates wildly).

Code: [Select]

                         EUR       LTC
Equity                   10769     4290
Shares                   99000     99000 
Equ, per share           0.108     0.0433
Share price              0.0301    0.012 
Price-to-Book            0.276     0.276

(0.012 LTC * 2.51 LTC/EUR)

Offline EskimoBob

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Re: [LTC-GLOBAL] - ART - building a open art studio [news for week 08]
« Reply #40 on: June 04, 2013, 04:59:59 PM »
With a delay, here is the report for May.

Mai 2013 numbers.
May started out well but from third week, it has been really quiet. Few customers fell behind their own schedules and never completed the planned work for May. As a result, we had nothing to fire. Wheel got some action but still not enough. Same applies to our kiln. When it ain't clicking, it ain't earning.

Code: [Select]
Revenues
 Income   
       firing                  82,29
       Wheel rental            40,00   
Total Revenue                 122,29

Expenses   
 Expenses 
       Electricity             22,31
Total Expenses                 22,31
Net income for Period          99,98

and

Code: [Select]
Balance Sheet 31.05.2013

Assets
 Assets
      Current Assets
            Petty Cash         216,78
      Fixed Assets         
            Kiln 01          2 254,00
            Wheel 01         1 168,00
      Investments     
            Brokerage Account
          81,84 BTCw         8 148,65
           121,42 LTCw         267,12
       
Total Assets                12 054,55

Liabilities               
 Total Liabilities               0,00       

Outstanding virtual shares: 99000
May closing 0.0205 LTC - 0,0451 €
12054,55/99000 = 0,12176313 / 2,2 = 0,055346877 ltc

Offline EskimoBob

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Re: [LTC-GLOBAL] - ART - building a open art studio [news for week 23]
« Reply #41 on: June 14, 2013, 10:31:51 AM »
Sorry, I forgot.  Here is the corrected P/L statement. Previous statement was missing the May Depreciation
   

Code: [Select]
Profit & Loss For Period Covering 01.05.2013 to 31.05.2013

Revenues   
Income               
           firing       € 82,29
           Wheel rental € 40,00     
Total Revenue          € 122,29


Expenses
       Depreciation     € 44,00     
           Electricity  € 22,31     
Total Expenses          € 66,31
Net income for Period   € 55,98

Offline EskimoBob

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Re: [LTC-GLOBAL] - ART - building a open art studio [news for week 27]
« Reply #42 on: July 01, 2013, 03:22:27 PM »
Here are the numbers for https://www.litecoinglobal.com/security/ART

Here are the numbers for June 2013 and for the last 6 months. June-August are considered the vacation months around here so I did not expect any growth.
As expected, we got fewer firing gigs but wheel got some action, so we did better than month before.

Revenue was up from 122,29 to 210,66 and net income rose form 55,98 to 138,51.
Wheel use was up from previous 40 by €100, while kiln use dropped by 11,69 to 70,60.

Code: [Select]
ART Income Statement For Period Covering 01.06.2013 to 30.06.2013

Revenues             
Income             
      firing                         € 70,60
      Wheel rental                  € 140,00
Total Revenue                       € 210,60
           
Expenses
Expenses                              € 0,00
      Depreciation                   € 44,00
      Electricity                    € 28,00
Total Expenses                       € 72,09
Net income for Period               € 138,51

Here are the numbers for the first half of the 2013

Code: [Select]
ART Balance Sheet 30.06.2013

Assets         
Assets
      Current Assets                 
            Petty Cash              € 399,29
      Fixed Assets                   
            Kiln 01               € 2 226,00
            Wheel 01              € 1 152,00
      Investments
            Brokerage Account
                  81,84 BTCw      € 6 047,98
                  121,42 LTCw       € 244,84

Total Assets                     € 10 070,11
Liabilities
Total Liabilities                     € 0,00

Equity
Equity
      Share Capital               € 4 303,70
Retained Earnings                    € 92,29
Unrealized Gains                  € 5 674,12
Total Equity                     € 10 070,11
Total Liabilities & Equity       € 10 070,11

Exchange rates
1 BTCw € 73,90
1 LTCw € 2,0165


ART Income Statement For Period Covering 01.01.2013 to 30.06.2013
Code: [Select]
Revenues
Income   
       firing                       € 307,59
       Wheel rental                 € 200,00
Total Revenue                       € 507,59
           
Expenses
Expenses
       ART Div                       € 31,00
       Bank Service Charge           € 15,76
       Depreciation                 € 132,00
       Electricity                   € 50,40
       Equipment and materials      € 186,14
Total Expenses                      € 415,30
Net income for Period                € 92,29


Profit & Loss For Period Covering 01.01.2013 to 30.06.2013

Code: [Select]
Revenues
Income
      firing                        € 307,59
      Wheel rental                  € 200,00
Total Revenue                       € 507,59
                                       
Expenses             
Expenses       
      ART Div                        € 31,00
      Bank Service Charge            € 15,76
      Depreciation                  € 132,00
      Electricity                    € 50,40
      Equipment and materials       € 186,14
Total Expenses                      € 415,30
Net income for Period                € 92,29

Offline EskimoBob

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Re: [LTC-GLOBAL] - ART - building a open art studio [news for week 27]
« Reply #43 on: August 06, 2013, 01:15:19 PM »
As mentioned in previous month report, summer is really slow around here and as expected, everything slowed down even more in July. We decided to closed the shop for few weeks and enjoy the summer as everyone else.

Code: [Select]
Income Statement For Period Covering 01.07.2013 to 31.07.2013

Revenues                     
Income                     
       firing           € 8,80       
Total Revenue                  € 8,80
                                                     
Expenses                     
Expenses                     
       ART Div           € 96,28       
       Depreciation           € 44,00       
Total Expenses                  € 140,28
Net loss for Period                  € 131,48

Code: [Select]
Balance Sheet 31.07.2013
Assets                     
Assets           € 0,00       
       Current Assets    € 0,00             
             Petty Cash    € 408,09             
       Fixed Assets    € 0,00             
             Kiln 01    € 2 198,00             
             Wheel 01    € 1 136,00             
       Investments    € 0,00             
             Brokerage Account   
81,84 BTCw    € 6 367,15
73,66 LTCw    € 166,47
         
Total Assets                  € 10 275,71
Liabilities                     
Total Liabilities                  € 0,00
Equity                     
Equity           € 0,00       
       Share Capital           € 4 303,70       
Retained Losses                  € 39,19
Unrealized Gains                  € 6 011,20
Total Equity                  € 10 275,71
Total Liabilities & Equity                  € 10 275,71
Exchange rates
1 BTCw    € 77,80
1 LTCw    € 2,26

Shares outstanding:  99000
Equity per share 0,10379505 EUR (0,045927013 LTC)


Offline Smoothie

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Re: [LTC-GLOBAL] - ART - building a open art studio [news for week 27]
« Reply #44 on: August 30, 2013, 12:32:18 PM »
Did you ever post images of your setup?

At first glance I did not see anything. Just curious.