The NEO Foundation (NF) has published a final version of its mid-year financial report. The report, which was preceded by a preliminary version which received coverage from NEO News Today, outlines the NEO Foundation’s NEO and GAS holdings, investment funds, and other assets, while providing details about its expenditures. The two related investment funds covered are “NGC Fund 1,” managed by NEO Global Capital and “NEO Eco Fund,” managed by NEO Global Development.
As the financial report has been planned for a bi-yearly release, all valuations in this report are as of June 30th, 2019. On that date, the cryptocurrency price tracker CoinMarketCap listed the market price of NEO at approximately US$17.60 per NEO, while Bitcoin traded at about US$11,600 per BTC.
Half-yearly NEO expenditures
The final financial report states the following outlays for the NEO Foundation in the first half of 2019:
- 566,553 NEO and 62,118.00 GAS to “finance/motivate NEO core developers and support the operations of the NF and NEO Global Development”;
- 126,125 NEO to “invest in other blockchain projects”;
- 104,358 NEO to “finance/motivate the growth of the NEO ecosystem.”
NEO News Today’s original coverage of the preliminary report went into further detail about the NEO Foundation’s expenditures since inception and included a closer look at 2018 and prior years.
As NEO is a public ledger, the current status of the NEO Foundation’s two primary wallet addresses and their transactions can be viewed on the NeoScan block explorer. They are located at the following NEO addresses: AQVh2pG732YvtNaxEGkQUei3YA4cvo7d2i and Ae2d6qj91YL3LVUMkza7WQsaTYjzjHm4z1.
NGC Fund 1 and NEO Eco Fund
NGC Fund 1 and NEO Eco Fund are both divided into units; NGC Fund I’s total size is 821 units, while the NEO Eco Fund is larger, containing 3,492 units.
As of June 30th, NGC Fund 1’s was valued at 4.44 BTC per unit and NEO Eco Fund’s at 2.79 BTC per unit, increases from their original unit values of 1 BTC each.
NEO Foundation notes that the stated book value “does not fully reflect the terminal value of both funds” partially because they are invested in cryptocurrency markets which are not fully liquid.
NEO Foundation Assets
Finally, the financial report lists total assets managed by the NEO Foundation.
On June 30th, NEO Foundation’s assets included the following:
- 43,664,133 NEO and 4,123,533 GAS, valued at US$745,750,676;
- Non-NEO assets including BTC, ETH, ONT, ONG, USD, and CNY, valued at US$78,621,107;
- Hedge funds with a total valuation (via cost method) of 4,313 BTC, or US$46,658,305.
Total valuation of the listed assets on June 30, 2019 stood at just over US$871 million.
The NEO Foundation’s 2019 mid-year financial report can be viewed in full through the following link: https://neo.org/blog/details/4178