Updated financials

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  • loopy #4748

    You have provided financials up to Oct 2015, which is great. Your business seems to be growing very quickly. Could you give a quick update and how Nov and Dec were, and how Jan is looking?

    In the 2 months between Aug 15 and Oct 15 your wages expenses increased by 8,500% from $8.5K to almost $73K. What was with that, and what has happened with that expense since?

    HOMBRE #4757

    We’ve maintained our growth over the past couple of months with December particularly busy due to obvious seasonal factors. We lent out 20% more in December 15 than in October 15 and expect January to be at least on par with December (it’s tracking that way at the moment). We expect December collections to be marginally slower that other months. While there has been a corresponding increase in direct costs it’s pleasing to see that fixed costs have remained flat.

    During the start-up phase of the company the founders chose to take less salary and as the company moved strongly into profit decided to start paying themselves more of a salary. That level has remained flat, if not dropped slightly due to a staff member leaving and not being replaced.

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