UTC-05:00,Saturday , January 25th 2020

Electric Coin Company Q2 2019 Transparency Report: A Significant Deficit

08:44 Wednesday , May 15th 2019
The Electric Coin Company reveals the transparency report that details company income, expenses and use of funds during the second half of 2018.
According to the report, the Electric Coin Company is funded (assuming the 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.
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