Pearl Protection Insurance Group

August 10, 2024

Financial Statement #02

(Second Month of Operations July 6th to August 6th)

This document summarizes the financial status of the Pearl Protection Insurance Group for it’s second month of operations, a period categorized as between June 6th and July 6th, 2024. Our goal is to be as transparent as possible in our business dealings, while maintaining the privacy of our clients.

Our asset reserves total 933.3 Diamonds, which we determine to currently be sufficient to cover our clients should claims need to be filed.

Revenue, Expenses, and Profit Summary:

Sources of Revenue:

For our second month, we’ve mostly been working on creating a more well-rounded and stable long-term company. We’ve established a marketing department with a set monthly operating budget, and have completed interviews for our accounting department. We’ve selected an accountant, and they will be kept on & paid for one or several months to not only manage our finances, but also to bring order and efficiency to our spreadsheets. We do not plan on maintaining an accountant on payroll for the long-term, unless deemed necessary.

This month also saw the introduction of our group-policies, with customers now able to take out a policy to protect several members of their community. We are currently trialing this initiative, and may open it to the public in the long term.

Expenses:

Our expenses for the second month have been limited to just the salary & budget of our marketing department. We had no claims submitted for this period.

Summary:

Overall we’re thrilled to see the company continue to grow, and this month we really focussed less on growth, and instead on making something that could stand the test of time. In subsequent months as we continue to grow, our balance sheet will likely be more complex, for this month though we can see a simple picture of company growth.

Sirboss001
Founder, Pearl Protection Insurance Group