# Electric Coin Company Q2 2019 Financial Report
**URL:** https://forum.zcashcommunity.com/t/electric-coin-company-q2-2019-financial-report/33475
**Category:** General
**Created:** [May 14, 2019, 10:45pm UTC](https://forum.zcashcommunity.com/t/electric-coin-company-q2-2019-financial-report/33475 "2019-05-14T22:45:22Z")
**Posts on this page:** 15
**Page:** 1
### Author:  [@Shawn](https://forum.zcashcommunity.com/u/Shawn)
#### Post date: [May 14, 2019, 10:45pm UTC](https://forum.zcashcommunity.com/t/electric-coin-company-q2-2019-financial-report/33475/1 "2019-05-14T22:45:22Z")
> **[Electric Coin Company Q2 2019 Transparency Report](https://electriccoin.co/blog/electric-coin-company-q2-2019-transparency-report/)**
>
> The Electric Coin Company 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…
### Key takeaways
- The Electric Coin Company is funded (assuming current price of ZEC) through October 2020.
- The Electric Coin Company and its employees have been receiving approximately 4.2% of the total mining rewards.
- At the current price of approximately $60 per ZEC, the company and its employees have been receiving approximately $550k per month.
- The company’s operating cost in the second half of 2018 averaged $700k per month. An additional $180k a month was used for employee compensation during the period. As such, the company has been running at a significant deficit.
- The Zcash received from the Electric Coin Company’s share of mining rewards was used to fund R&D, engineering, global adoption efforts, audits, trademark protections and regulatory relations. The specifics are included in the Expenses and Use of Funds section of the disclosure.
- The company currently holds approximately $5M worth of USD and Zcash.
- Founders Reward participants recently agreed to a dilution, effective June 2019, to ensure the financial sustainability of the Electric Coin Company.
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### Author:  [@Zcashletsgo](https://forum.zcashcommunity.com/u/Zcashletsgo)
#### Post date: [May 15, 2019, 5:35am UTC](https://forum.zcashcommunity.com/t/electric-coin-company-q2-2019-financial-report/33475/2 "2019-05-15T05:35:03Z")
What services do you provide?
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### Author:  [@Anton1](https://forum.zcashcommunity.com/u/Anton1)
#### Post date: [May 15, 2019, 6:16am UTC](https://forum.zcashcommunity.com/t/electric-coin-company-q2-2019-financial-report/33475/3 "2019-05-15T06:16:29Z")
Hello.
Are there people in the company who are engaged in marketing?
Can you find out what they did to promote the coin?
After reading the report, I understand that the funds are being spent and there is no result, if it continues like this, you need to adjust the price from 60 to 30, while the costs in the company will remain at the same level of $ 700,000, which is not fair for investors (buyers zcash) /
Where are the test projects for the mass user, where the support for the main areas needed for mass adoption, where the ideas and the movement in advertising, there is nothing, and on the simple network (updated once a year) the negative trend will only increase. Marketing!!!
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### Author:  [@Spiral1990](https://forum.zcashcommunity.com/u/Spiral1990)
#### Post date: [May 15, 2019, 7:38am UTC](https://forum.zcashcommunity.com/t/electric-coin-company-q2-2019-financial-report/33475/4 "2019-05-15T07:38:01Z")
$700k per month. Damn, seems to me you need to outsource the programming to countries with cheaper labor force 🙂
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### Author:  [@Autotunafish](https://forum.zcashcommunity.com/u/Autotunafish)
#### Post date: [May 15, 2019, 11:34am UTC](https://forum.zcashcommunity.com/t/electric-coin-company-q2-2019-financial-report/33475/5 "2019-05-15T11:34:30Z")
> **[Frequently Asked Questions - Zcash](https://z.cash/support/faq/#investors-and-funding)**
>
> Find answers to important questions about Zcash, how it differs from other cryptocurrencies like Bitcoin, transaction types, mining, upgrades, community and more.
> **[Institutional Investors and Family Offices | Zcash](https://z.cash/investors/)**
>
> Zcash can be a great way to store wealth or invest for the future. Zcash is secure, attack- and censorship-resistant, compliant, portable, and fungible.
The marketing you’re used to is garbage, this is why it seems lacking here (i apologize if thats a little rude)
> **[2018 Zcash Marketing: Year in Review - Electric Coin Company](https://electriccoin.co/blog/2018-zcash-marketing-year-in-review/)**
>
> This article is the first in a three-part series about Zcash marketing. Stay tuned for a future post about how \[…\]
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### Author:  [@cashdigger](https://forum.zcashcommunity.com/u/cashdigger)
#### Post date: [May 15, 2019, 11:53am UTC](https://forum.zcashcommunity.com/t/electric-coin-company-q2-2019-financial-report/33475/6 "2019-05-15T11:53:26Z")
Your typical US corporate transparency pasteover. Makes it sound like the company cannot make ends meet and the founders heroically ‘agreed to dilution’.
At 4.2% of mining rewards, only 21% of the take is dedicated to the core product development. Still that’s $6.6M / year, which even at Silicon Valley prices pays for 20+ technical employees “fully burdened”, and one does get superb people with such fun work and juicy ‘vesting’.
Of course the “Founders and Vested Employees” are additionally getting 3X that much (12.8%), so worry not about their Lambo payments. The PDF names Zooko, but who else is getting a cut of this cool $20M / year, and how are the VCs getting compensated?
The Foundation is slated for $4.7M / year, has promised $500K in grants and Josh and blogging elves cost $400K max “fully burdened”. $3.8M anyone?
Quit crying up a river and spend the loot in ways that benefit the network and grows the tech.
Digger
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### Author:  [@Autotunafish](https://forum.zcashcommunity.com/u/Autotunafish)
#### Post date: [May 15, 2019, 11:56am UTC](https://forum.zcashcommunity.com/t/electric-coin-company-q2-2019-financial-report/33475/7 "2019-05-15T11:56:07Z")
Being a privately traded company they are in no way legally required to submit any form of earnings report at all, this was done for the benefit of transparency (because people rock!)
> [@December 7th, 2018 - Weekly update (Fun week edition)](https://forum.zcashcommunity.com/t/december-7th-2018-weekly-update-fun-week-edition/32167/5):
>
> Given Zooko’s view of transparency the idea of an earning spending report isn’t too far-fetched (although they aren’t legally required to do anything like that)(the report above is fairly comprehensive) Also it’s more of a thing between the payer and the payee
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### Author:  [@Anton1](https://forum.zcashcommunity.com/u/Anton1)
#### Post date: [May 15, 2019, 12:13pm UTC](https://forum.zcashcommunity.com/t/electric-coin-company-q2-2019-financial-report/33475/8 "2019-05-15T12:13:32Z")
Maybe garbage. But there is an impact on the price, and the higher the price is more money for development and better marketing, no?
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### Author:  [@Spiral1990](https://forum.zcashcommunity.com/u/Spiral1990)
#### Post date: [May 15, 2019, 12:21pm UTC](https://forum.zcashcommunity.com/t/electric-coin-company-q2-2019-financial-report/33475/9 "2019-05-15T12:21:41Z")
I don’t think marketing will ever improve. They need to hire outside marketing consultants.
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### Author:  [@Autotunafish](https://forum.zcashcommunity.com/u/Autotunafish)
#### Post date: [May 15, 2019, 12:42pm UTC](https://forum.zcashcommunity.com/t/electric-coin-company-q2-2019-financial-report/33475/10 "2019-05-15T12:42:26Z")
Maybe but it isn’t in the company’s interest to boost their own profits from a (fleeting) development tax, markets are too manipulated to really determine any kind of real price correlation
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### Author:  [@Anton1](https://forum.zcashcommunity.com/u/Anton1)
#### Post date: [May 15, 2019, 1:17pm UTC](https://forum.zcashcommunity.com/t/electric-coin-company-q2-2019-financial-report/33475/11 "2019-05-15T13:17:45Z")
They have no other income, income from an asset (zсash) is all that they can calculate now, and they sell at the current price as you can see, they are profitable to change the trend, any PR should arrange at such a moment.
I just hope that there is something hidden, otherwise the other altcoins will dominate, and I hoped that such a command as it is with this coin cannot lose.
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### Author:  [@paige](https://forum.zcashcommunity.com/u/paige)
#### Post date: [May 16, 2019, 11:28am UTC](https://forum.zcashcommunity.com/t/electric-coin-company-q2-2019-financial-report/33475/12 "2019-05-16T11:28:25Z")
Just to clarify, the Electric Coin Company is the company that launched and are the main stewards of the Zcash cryptocurrency. Formally known as the Zcash Company. [Goodbye, Zcash Company. Hello, Electric Coin Company. - Electric Coin Company](https://z.cash/blog/goodbye-zcash-company-hello-electric-coin-company/)
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### Author:  [@joshs](https://forum.zcashcommunity.com/u/joshs)
#### Post date: [May 16, 2019, 3:17pm UTC](https://forum.zcashcommunity.com/t/electric-coin-company-q2-2019-financial-report/33475/13 "2019-05-16T15:17:57Z")
The Electric Coin Company’s non-development / R&D efforts are focused on adoption, education, regulatory engagement and communications. We build and support the software. There are no efforts or objectives related to price.
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### Author:  [@jmsjsph](https://forum.zcashcommunity.com/u/jmsjsph)
#### Post date: [May 20, 2019, 12:56pm UTC](https://forum.zcashcommunity.com/t/electric-coin-company-q2-2019-financial-report/33475/14 "2019-05-20T12:56:48Z")
I think marketing is premature and focus should be on research and development in regards to both the technology and the business. But, they do say everything is marketing …
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### Author:  [@Anton1](https://forum.zcashcommunity.com/u/Anton1)
#### Post date: [May 20, 2019, 3:08pm UTC](https://forum.zcashcommunity.com/t/electric-coin-company-q2-2019-financial-report/33475/15 "2019-05-20T15:08:25Z")
From the price depends on how much money the company will have for development, in addition the company does not fulfill its main purpose: “R&D efforts are focused on adoption, education, regulatory engagement and communications. We build and support the software.”
Where is all this?
At the moment, only the complexity of mining is growing, and everything else is shrinking (active addresses, volumes, supporters), the number of exchanges is increasing, but the coin and the team had a goal not to speculate and internet cash.
I do not say that you need to deal only with advertising, I say that the assigned tasks would be carried out, advertising and interest in the coin should increase.