Powered by
Comprehensive Income Statements
Our business is subject to various risks and uncertainties, including those detailed below. The most significant risks include:
Total 1294 records
Powered by
Comprehensive Income Statements
Total 1294 records
Powered by
Comprehensive Income Statements
Comprehensive Income Statements - USD ($) | 30 Days Ended Aug. 25, | |
---|---|---|
$ in Thousands | Aug. 25, 2024 | Jul. 27, 2024 |
Revenue: | ||
B011 Trading fee | $ — | $ — |
B012 Spread Fee | — | — |
B005 Withdrawal fee | — | — |
B001 Deposit fee | — | — |
B013 Liquidation fee | — | — |
B014 Guaranteed stop-loss fee | — | — |
B029 Total revenue | $ — | $ — |
Cost: | ||
B008 Technical supplier costs | $ — | $ — |
B015 Market data supplier costs | — | — |
B016 New coin listing cost | — | — |
B030 Total cost | $ — | $ — |
Operating expenses: | ||
B017 Employee salaries | $ — | $ — |
B018 Rent | — | — |
B019 Marketing | — | — |
B020 Rebate expenses | — | — |
B031 Total operating expenses | $ — | $ — |
Financial costs: | ||
B021 Interest expense | $ — | $ — |
Total 1294 records
Powered by
Comprehensive Income Statements
B022 Cryptocurrency forex losses | — | — |
B023 Fiat to cryptocurrency conversion losses | — | — |
B024 Cryptocurrency to fiat conversion losses | — | — |
B025 Fiat to fiat conversion losses | — | — |
B032 Total financial costs | $ — | $ — |
Total other gains/losses: | ||
B026 Investment gains | $ — | $ — |
B027 Forex gains | — | — |
B028 Cryptocurrency gains | — | — |
B033 Total other gains | — | — |
B004 Net profit | $ — | $ — |
Next Page
Total 1294 records
Powered by
Comprehensive Income Statements
TideBit DeFi is a decentralized financial exchange that provides accessible financial services to a broad range of users. As a part of the burgeoning decentralized finance (DeFi) sector, TideBit DeFi leverages blockchain technology to offer financial services that are open, transparent, and free from the control of traditional financial intermediaries like banks and brokerages.
Operating on a global scale, TideBit DeFi's platform allows users to trade a variety of digital assets in a secure and decentralized manner. This means that rather than relying on a central authority to facilitate transactions, trades are executed directly between users through smart contracts on the blockchain. This not only enhances security but also increases transaction speed and reduces costs.
By harnessing the power of blockchain technology and the principles of decentralization, TideBit DeFi is democratizing access to financial services and providing users with greater control over their financial destiny.
Foundation for Presentation and Consolidation Principles
The attached financial statements of the Company are not audited. These non-audited financial statements are prepared following the United States Generally Accepted Accounting Principles ("GAAP") in the same manner as the audited financial statements. In the management's view, they include all necessary adjustments, which are only regular, recurring adjustments, for a fair representation of the Company's financial statements for the periods shown. The non-audited operational results for the 30 days ending August 25, 2024, may not necessarily predict the results for the full year or any other period.
Use of estimates
The creation of these financial statements in accordance with GAAP requires management to make estimates and assumptions. Significant estimates and assumptions include the
Total 1294 records
Powered by
Comprehensive Income Statements
fair value of customer cryptocurrencies and liabilities.
Revenue recognition
The organization establishes the process of acknowledging income from customer contracts through the subsequent stages:
Revenue is recognized when the control of the promised products or services is handed over to the clients, in a quantity that mirrors the payment the organization anticipates to receive in return for those products or services.
It is essential to provide our investors with a granular view of our financial activities. By breaking down each revenue and cost category associated with fiat currencies and cryptocurrencies, we aim to offer a comprehensive understanding of our operations and financial health. This detailed approach ensures that our stakeholders can make informed decisions based on a thorough analysis of our income streams and expenditures. Below, you'll find specific breakdowns for each category:
Total 1294 records
Powered by
Comprehensive Income Statements
Trading fee
The table below provides a detailed breakdown of the trading fees we have collected. It contrasts the data from August 25, 2024, with that of July 27, 2024, showcasing the amount, cost value, and percentage of total fees for each currency.
B011 Trading fee | Aug. 25, 2024 | Jul. 27, 2024 | ||||
---|---|---|---|---|---|---|
(Cost Value in thousands) | Amount | Cost Value | Percentage of Total | Amount | Cost Value | Percentage of Total |
USD (B052, B053) | — | $ — | — % | — | $ — | — % |
Bitcoin (B048, B049) | — | — | — % | — | — | — % |
Ethereum (B046, B047) | — | — | — % | — | — | — % |
USDT (B050, B051) | — | — | — % | — | — | — % |
Total Trading fee | — | $ — | — % | — | $ — | — % |
Next Page
Total 1294 records
Powered by
Comprehensive Income Statements
Spread fee
The table below provides a detailed breakdown of the spread fees we have collected. It contrasts the data from August 25, 2024, with that of July 27, 2024, showcasing the amount, cost value, and percentage of total fees for each currency.
B012 Spread fee | Aug. 25, 2024 | Jul. 27, 2024 | ||||
---|---|---|---|---|---|---|
(Cost Value in thousands) | Amount | Cost Value | Percentage of Total | Amount | Cost Value | Percentage of Total |
USD (B060, B061) | — | $ — | — % | — | $ — | — % |
Bitcoin (B056, B057) | — | — | — % | — | — | — % |
Ethereum (B054, B055) | — | — | — % | — | — | — % |
USDT (B058, B059) | — | — | — % | — | — | — % |
Total Spread fee | — | $ — | — % | — | $ — | — % |
Next Page
Total 1294 records
Powered by
Comprehensive Income Statements
Withdrawal fee
This section offers insights into the fees associated with customer withdrawals. The table compares the withdrawal fee data from August 25, 2024, to that of July 27, 2024.
B005 Withdrawal fee | Aug. 25, 2024 | Jul. 27, 2024 | ||||
---|---|---|---|---|---|---|
(Cost Value in thousands) | Amount | Cost Value | Percentage of Total | Amount | Cost Value | Percentage of Total |
USD (B044, B045) | — | $ — | — % | — | $ — | — % |
Bitcoin (B042, B043) | — | — | — % | — | — | — % |
Ethereum (B040, B041) | — | — | — % | — | — | — % |
USDT (B006, B007) | — | — | — % | — | — | — % |
Total Withdrawal fee | — | $ — | — % | — | $ — | — % |
Next Page
Total 1294 records
Powered by
Comprehensive Income Statements
Deposit fee
Here, we present a comprehensive overview of the fees collected from customer deposits. The table contrasts the figures from August 25, 2024, with those from July 27, 2024.
B001 Deposit fee | Aug. 25, 2024 | Jul. 27, 2024 | ||||
---|---|---|---|---|---|---|
(Cost Value in thousands) | Amount | Cost Value | Percentage of Total | Amount | Cost Value | Percentage of Total |
USD (B038, B039) | — | $ — | — % | — | $ — | — % |
Bitcoin (B036, B037) | — | — | — % | — | — | — % |
Ethereum (B034, B035) | — | — | — % | — | — | — % |
USDT (B002, B003) | — | — | — % | — | — | — % |
Total Deposit fee | — | $ — | — % | — | $ — | — % |
Next Page
Total 1294 records
Powered by
Comprehensive Income Statements
Liquidation fee
This table provides a detailed view of the fees collected from liquidation activities. It compares the data from August 25, 2024, to that of July 27, 2024, highlighting the amount, cost value, and percentage of total fees for each currency.
B013 Liquidation fee | Aug. 25, 2024 | Jul. 27, 2024 | ||||
---|---|---|---|---|---|---|
(Cost Value in thousands) | Amount | Cost Value | Percentage of Total | Amount | Cost Value | Percentage of Total |
USD (B068, B069) | — | $ — | — % | — | $ — | — % |
Bitcoin (B064, B065) | — | — | — % | — | — | — % |
Ethereum (B062, B063) | — | — | — % | — | — | — % |
USDT (B066, B067) | — | — | — % | — | — | — % |
Total Liquidation fee | — | $ — | — % | — | $ — | — % |
Next Page
Total 1294 records
Powered by
Comprehensive Income Statements
Guaranteed stop loss fee
Below is a representation of the fees associated with the guaranteed stop loss feature. The table contrasts the data from August 25, 2024, with that of July 27, 2024.
B014 Guaranteed stop-loss fee | Aug. 25, 2024 | Jul. 27, 2024 | ||||
---|---|---|---|---|---|---|
(Cost Value in thousands) | Amount | Cost Value | Percentage of Total | Amount | Cost Value | Percentage of Total |
USD (B076, B077) | — | $ — | — % | — | $ — | — % |
Bitcoin (B072, B073) | — | — | — % | — | — | — % |
Ethereum (B070, B071) | — | — | — % | — | — | — % |
USDT (B074, B075) | — | — | — % | — | — | — % |
Total Guaranteed stop-loss fee | — | $ — | — % | — | $ — | — % |
Next Page
Total 1294 records
Powered by
Comprehensive Income Statements
Rebate expenses
This section offers a comprehensive view of the expenses related to rebates provided to our customers. The table contrasts the figures from August 25, 2024, with those from July 27, 2024.
B020 Rebate expenses | Aug. 25, 2024 | Jul. 27, 2024 | ||||
---|---|---|---|---|---|---|
(Cost Value in thousands) | Amount | Cost Value | Percentage of Total | Amount | Cost Value | Percentage of Total |
USD (B084, B085) | — | $ — | — % | — | $ — | — % |
Bitcoin (B080, B081) | — | — | — % | — | — | — % |
Ethereum (B078, B079) | — | — | — % | — | — | — % |
USDT (B082, B083) | — | — | — % | — | — | — % |
Total Rebate expenses | — | $ — | — % | — | $ — | — % |
Next Page
Total 1294 records
Powered by
Comprehensive Income Statements
Cryptocurrency forex losses
The table below provides insights into the losses incurred from cryptocurrency forex activities. It contrasts the data from August 25, 2024, with that of July 27, 2024, showcasing the amount, cost value, and percentage of total losses for each currency.
B022 Cryptocurrency forex losses | Aug. 25, 2024 | Jul. 27, 2024 | ||||
---|---|---|---|---|---|---|
(Cost Value in thousands) | Amount | Cost Value | Percentage of Total | Amount | Cost Value | Percentage of Total |
USD (B092, B093) | — | $ — | — % | — | $ — | — % |
Bitcoin (B088, B089) | — | — | — % | — | — | — % |
Ethereum (B086, B087) | — | — | — % | — | — | — % |
USDT (B090, B091) | — | — | — % | — | — | — % |
Total Cryptocurrency forex losses | — | $ — | — % | — | $ — | — % |
Next Page
Total 1294 records
Powered by
Comprehensive Income Statements
Technical supplier costs
The table below provides insights into the losses incurred from technical supplier costs. It contrasts the data from August 25, 2024, with that of July 27, 2024, showcasing the amount, cost value, and percentage of total losses for each currency.
B008 Technical supplier costs | Aug. 25, 2024 | Jul. 27, 2024 | ||||
---|---|---|---|---|---|---|
(Cost Value in thousands) | Amount | Cost Value | Percentage of Total | Amount | Cost Value | Percentage of Total |
USD (B098, B099) | — | $ — | — % | — | $ — | — % |
Bitcoin (B094, B095) | — | — | — % | — | — | — % |
Ethereum (B009, B010) | — | — | — % | — | — | — % |
USDT (B096, B097) | — | — | — % | — | — | — % |
Total Technical supplier costs | — | $ — | — % | — | $ — | — % |
Next Page
Total 1294 records
Powered by
Comprehensive Income Statements
Cryptocurrency gains
The table below provides insights into the gains incurred from cryptocurrency. It contrasts the data from August 25, 2024, with that of July 27, 2024, showcasing the amount, cost value, and percentage of total losses for each currency.
B028 Cryptocurrency gains | Aug. 25, 2024 | Jul. 27, 2024 | ||||
---|---|---|---|---|---|---|
(Cost Value in thousands) | Amount | Cost Value | Percentage of Total | Amount | Cost Value | Percentage of Total |
USD (B106, B107) | — | $ — | — % | — | $ — | — % |
Bitcoin (B104, B105) | — | — | — % | — | — | — % |
Ethereum (B102, B103) | — | — | — % | — | — | — % |
USDT (B100, B101) | — | — | — % | — | — | — % |
Total Cryptocurrency gains | — | $ — | — % | — | $ — | — % |
Next Page
Total 1294 records
Powered by
Comprehensive Income Statements
The following table summarizes the historical statement of income data:
Comprehensive Income Statements - USD ($) | 30 Days Ended Aug. 25, | |
---|---|---|
shares in Thousands, $ in Thousands | 2024 | 2023 |
Revenue: | ||
B011 Trading fee | $ — | $ — |
B012 Spread Fee | — | — |
B005 Withdrawal fee | — | — |
B001 Deposit fee | — | — |
B013 Liquidation fee | — | — |
B014 Guaranteed stop-loss fee | — | — |
B029 Total revenue | $ — | $ — |
Cost: | ||
B008 Technical supplier costs | $ — | $ — |
B015 Market data supplier costs | — | — |
B016 New coin listing cost | — | — |
B030 Total cost | $ — | $ — |
Operating expenses: | ||
B017 Employee salaries | $ — | $ — |
B018 Rent | — | — |
B019 Marketing | — | — |
B020 Rebate expenses | — | — |
B031 Total operating expenses | $ — | $ — |
Financial costs: | ||
B021 Interest expense | $ — | $ — |
Total 1294 records
Powered by
Comprehensive Income Statements
B022 Cryptocurrency forex losses | — | — |
B023 Fiat to cryptocurrency conversion losses | — | — |
B024 Cryptocurrency to fiat conversion losses | — | — |
B025 Fiat to fiat conversion losses | — | — |
B032 Total financial costs | $ — | $ — |
Total other gains/losses: | ||
B026 Investment gains | $ — | $ — |
B027 Forex gains | — | — |
B028 Cryptocurrency gains | — | — |
B033 Total other gains | — | — |
B004 Net profit | $ — | $ — |
Comparison of the 30 days ended July 30, 2023 and 2022
30 Days Ended Aug. 25, | ||||
---|---|---|---|---|
2024 | 2023 | % Change | ||
Net revenue | (in thousands) | |||
B011 Trading fee | $ — | $ — | — % | |
B012 Spread Fee | — | — | — % | |
B005 Withdrawal fee | — | — | — % | |
B001 Deposit fee | — | — | — % | |
B001 Liquidation fee | — | — | — % | |
B014 Guaranteed stop-loss fee | — | — | — % | |
B029 Total revenue | $ — | $ — | — % |
Total 1294 records
Powered by
Comprehensive Income Statements
The table represents the exchange rates at 00:00 in the UTC+0 time zone. The exchange rates are used in revenue recognization.
Quoted Date | BTC to USD | ETH to USD | USDT to USD | |||
---|---|---|---|---|---|---|
Buy | Sell | Buy | Sell | Buy | Sell | |
2024-07-27 | 0 | 0 | 0 | 0 | 0 | 0 |
2024-07-28 | 0 | 0 | 0 | 0 | 0 | 0 |
2024-07-29 | 0 | 0 | 0 | 0 | 0 | 0 |
2024-07-30 | 0 | 0 | 0 | 0 | 0 | 0 |
2024-07-31 | 0 | 0 | 0 | 0 | 0 | 0 |
2024-08-01 | 0 | 0 | 0 | 0 | 0 | 0 |
2024-08-02 | 0 | 0 | 0 | 0 | 0 | 0 |
2024-08-03 | 0 | 0 | 0 | 0 | 0 | 0 |
2024-08-04 | 0 | 0 | 0 | 0 | 0 | 0 |
2024-08-05 | 0 | 0 | 0 | 0 | 0 | 0 |
2024-08-06 | 0 | 0 | 0 | 0 | 0 | 0 |
2024-08-07 | 0 | 0 | 0 | 0 | 0 | 0 |
2024-08-08 | 0 | 0 | 0 | 0 | 0 | 0 |
2024-08-09 | 0 | 0 | 0 | 0 | 0 | 0 |
2024-08-10 | 0 | 0 | 0 | 0 | 0 | 0 |
2024-08-11 | 0 | 0 | 0 | 0 | 0 | 0 |
2024-08-12 | 0 | 0 | 0 | 0 | 0 | 0 |
2024-08-13 | 0 | 0 | 0 | 0 | 0 | 0 |
2024-08-14 | 0 | 0 | 0 | 0 | 0 | 0 |
2024-08-15 | 0 | 0 | 0 | 0 | 0 | 0 |
2024-08-16 | 0 | 0 | 0 | 0 | 0 | 0 |
2024-08-17 | 0 | 0 | 0 | 0 | 0 | 0 |
2024-08-18 | 0 | 0 | 0 | 0 | 0 | 0 |
2024-08-19 | 0 | 0 | 0 | 0 | 0 | 0 |
2024-08-20 | 0 | 0 | 0 | 0 | 0 | 0 |
2024-08-21 | 0 | 0 | 0 | 0 | 0 | 0 |
2024-08-22 | 0 | 0 | 0 | 0 | 0 | 0 |
2024-08-23 | 0 | 0 | 0 | 0 | 0 | 0 |
2024-08-24 | 0 | 0 | 0 | 0 | 0 | 0 |
2024-08-25 | 0 | 0 | 0 | 0 | 0 | 0 |
Total 1294 records
Powered by
Comprehensive Income Statements
Please note that the values are approximate and may vary slightly due to market fluctuations.
Our revenue model primarily hinges on transaction fees, which can be a flat fee or calculated as a percentage of the transaction value. The exact fee may fluctuate depending on the payment type and the transaction value.
However, it's important to be cognizant of the risks associated with cryptocurrency price volatility, which could negatively impact our operational results. Market prices of Bitcoin, Ethereum, and other cryptocurrencies play a crucial role in determining our future profitability. These prices have shown significant fluctuation month over month, matching the pattern of our operational results, and there is no certainty that they will follow historical trends.
A downturn in the market price of Bitcoin, Ethereum, and other cryptocurrencies could negatively affect our earnings, the carrying value of our cryptocurrencies, and our projected future cash flows. It could also pose a challenge to our liquidity and capability to fulfill ongoing obligations.
In terms of accounting procedures, we record impairment charges on our cryptocurrencies when the market prices fall below the assets' carrying value.
Total 1294 records
Powered by