Grandpa Crypto 👴🏽

Grandpa who loves Crypto and buffalo chicken pizza.

[Sam @SamCKx]

Atlas Wallet Financial Update

Hi all,

I thought it would be helpful to share a clear update on the financial position at Wallet Enterprises Ltd, the company behind Atlas Wallet.

There has been a significant amount of commentary circulating recently. Some of it is plainly inaccurate, some of it is deliberately misleading, and some of it understandably creates concern for holders who simply want clarity. This post is intended to deal purely with facts and numbers.

Background

In March 2025, while the project was operating under the Management Committee on behalf of EverGrow Marketing Ltd (the entity to which operational control of marketing and development had been legally and contractually transferred as per the official announcement in September 2022), a proposal was put forward to fund Atlas Wallet independently with $1.2 million.

The objective was straightforward: to separate Atlas operationally and financially from the token project so that development could proceed with stability and clarity.

Although the project was not operating under a formal legal DAO framework at that time, and still is not today due to the absence of a legal DAO structure or binding voting mechanism, the Management Committee stated we would poll the community on major decisions to ensure majority support.

The proposal to allocate $1.2 million to fund Atlas Wallet independently was supported by 97% of participating token holders.

Those funds were internally reassigned and ringfenced for Atlas Wallet. This update relates specifically to that allocation.

Where the funds are held

Wallet Enterprises Ltd operates a corporate Binance account for payroll and operational payments. However, the majority of funds have been retained in the original decentralised wallet that was reassigned last year from EverGrow Marketing Ltd to Wallet Enterprises Ltd. From a security perspective, I consider this the safest way to custody a significant treasury balance and it’s how I’ve operated since September 2022, when the founder transferred project assets to EverGrow Marketing Ltd.

Operationally, when the Binance balance runs low due to payroll or expenses, we top it up from the decentralised wallet. Those transfers are visible on-chain for anyone monitoring the wallet.

Current position

From the original $1.2 million allocation:

• $138,000 remains in the Binance corporate account (following yesterday’s payroll).
• Approximately $650,000 remains in the decentralised wallet assigned to Wallet Enterprises Limited.

Total remaining: approximately $788,000.

Burn rate

Our current monthly cash burn is just under $30,000.

This has been reduced significantly over the last few months. Earlier in the process, costs were materially higher due to:

• Clearing legacy expenses
• Annual pre-payments on some tech integrations
• A larger development team
• Higher cost legacy infrastructure and partnership commitments

Those costs have since been streamlined. Going forward, I expect us to maintain a burn rate below $30,000 per month.

There may be occasional months where expenses temporarily increase due to annual up-front costs being due, partnerships or infrastructure upgrades. However, we are consistently focused on reducing recurring overhead while preserving core development capability.

Runway and funding outlook

At the current burn rate, the remaining $788,000 provides substantial runway.

This gives us the financial capacity to:

• Complete the infrastructure upgrade
• Relaunch beta
• Full public launch on iOS, Android and Chrome
• Fund initial marketing and user acquisition
• Demonstrate product-market fit

At that stage, the intention would be to raise external capital from a position of strength.

We could raise earlier, including during beta, but at present I do not consider that necessary. The goal is to raise at the most advantageous point for long-term shareholder value. Ideally I would like to raise when we still have 12 months of runway - that’s an ambition, not a guarantee - I know too well how forward looking statements can come and bite me in the ass around here!

Operational update

As you know, we made the difficult decision to take the beta version offline and conduct a significant infrastructural upgrade. That decision added months to the timeline. We are nearing the end of that process now.

However, contingency was built into the runway specifically to account for unexpected development shifts. As a result, that work has not created financial stress or funding risk.

Closing

The key takeaway is simple:

Atlas Wallet remains well-funded relative to its current operating costs.

The treasury allocated in March 2025 has been managed conservatively, burn has been materially reduced, and there is significant runway remaining to complete development and move into launch and growth.

I appreciate that there is noise. The numbers, however, are straightforward.

I will continue to provide updates as we progress.

Sam

[Grandpa Crypto 👴🏽 @_GrandpaCrypto]

I agree.. @CedarDAO

[Grandpa Crypto 👴🏽 @_GrandpaCrypto]

@SamCKx @CedarDAO @Evergrowcoin2 @DiveWallet I think we’re beyond FUD @SamCKx .. those who are in, are still in.. those who are out, are long gone.. If, and when, we’re successful…. there will be a new cult of fudders and competitors that will spawn and activate.. charge this to the game.. let’s rock and roll…

[Cedar @CedarDAO]

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[Grandpa Crypto 👴🏽 @_GrandpaCrypto]

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[MoonAndroid 🌕 @TheMoonAndroid]

Hey everyone.

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DM me or just reply here if you'd like to pitch in. A like and/or retweet also helps.

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Thank you all once again, I'm sorry to come out with this out of nowhere folks. 😮‍💨

[Grandpa Crypto 👴🏽 @_GrandpaCrypto]

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[Grandpa Crypto 👴🏽 @_GrandpaCrypto]

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[Grandpa Crypto 👴🏽 @_GrandpaCrypto]

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[Grandpa Crypto 👴🏽 @_GrandpaCrypto]

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[Cedar @CedarDAO]

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[Cedar @CedarDAO]

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[HYPErBeam @HYP3rBeam_]

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[Cedar @CedarDAO]

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[Grandpa Crypto 👴🏽 @_GrandpaCrypto]

Sensational sentiments..
Transparent Truth..
From a Poetic Pilot..
@CedarDAO
@AtlasWallet

[AdamH @CryptoPilotAdam]

I’ve never shilled anything, I don’t espouse the virtues of things I don’t believe in.

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[Grandpa Crypto 👴🏽 @_GrandpaCrypto]

@cryptocom @CedarDAO

[Grandpa Crypto 👴🏽 @_GrandpaCrypto]

@Nike0x Simple… @CedarDAO

[Cedar @CedarDAO]

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Yes, again!
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[Grandpa Crypto 👴🏽 @_GrandpaCrypto]

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@CedarDAO
@AtlasWallet

[Cedar @CedarDAO]

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