Glimesh Board Meeting Minutes April 2022

Glimesh, Inc. Board Meeting
April 6th, 2022 / 6:00 PM EDT


YouTube Recording: https://www.youtube.com/watch?v=Go0NFxOYThQ

Company Attendance

  • Luke Strickland

Agenda

Executive Report

Good evening everyone! I’m proud to announce we’ve had two board meetings on time, in a row!

It’s been an exciting year so far, with our Mobile App finally being released and our new focus on marketing. A good amount of time was spent this month working on filing our taxes for the last year. The good / bad news is none of our creators met the minimum threshold for tax filing this past year.

The mobile app release has also gone extremely well, with just around 500 downloads so far across iOS and Android. So far the app has been welcomed by everyone, and the bug reports have been relatively minimal too, with only a couple of inconveniences impacting users. We ended up having some minor trouble with the iOS store, but that was quickly resolved with their review team. For now the mobile app will get mostly bug fixes, as our core attention switches to marketing.

In RTMP news, we’ve made progress on thumbnail generation but core development still continues. In the near future we’ll need help testing the low-latency RTMP ingests, be on the lookout for an alpha test form so we can get you setup!

Another surprise we’ve been holding on to is a brand new partnership with Glimli! Glimli is a set of simple add ons to make your Glimesh experience that much easier. Over the coming months we’ll be working with Brant to add some of Glimli’s basic functionality into Glimesh so new users can have dead simple ways of enhancing their stream. Our main goal will be to have an all in one basic package streamers can use for chat overlays, links, and alerts. The customization options will be minimal, so if you’re looking for more flexibility you can continue to rely on the other 3rd party options which are dedicated to these tools.

And finally, work on growing Glimesh continues! March has been focused around planning both our marketing focuses and curating a list of content creators and brands we’d love to work with to grow Glimesh.

–clone1018 (Luke Strickland)

Metrics

Currently our marketing metrics are still rather basic. We still need to update our metrics to track things we want to grow, so we can measure how campaigns are doing.



Overall the website traffic has been consistent for the past three months, which gives us a good baseline for growth.


January 1st - March 31st


Last Month

October 2021 November 2021 December 2021 January 2022 February 2022 March 2022
Unique Visitors 20,000 21,000 33,500 24,100 21,000 21,300
Total Pageviews 119,000 166,000 179,000 160,000 128,000 141,000

Our app is also doing quite well, with the release late last month going out the number of daily users has been relatively consistent.



Finances

Our finance categories are split up into two categories: Software as a Service (generally recurring) and Physical Sales (generally one time). This financial spreadsheet breaks down those two categories, in addition to providing a traditional P&L itemization.

October 2021 November 2021 December 2021 January 2022 February 2022 March 2022
Software as a Service
Gross Subscriptions $ 2,835.00 $ 3,087.59 $ 2,395.00 $ 2,101.00 $ 1,848.87 $ 2,195.00
Streamer Payouts $ (507.97) $ (1,099.05) $ (885.33) $ (505.72) $ (736.78) $ (768.22)
Charges Fees $ (203.29) $ (216.89) $ (172.44) $ (153.22) $ (140.16) $ (152.29)
Refunds $ - $ (25.00) $ (5.00) $ - $ (15.00) $ (245.00)
Connect Fee (prev month) $ (470.68) $ (347.26) $ (360.84) $ (333.13) $ (218.29) $ (139.05)
Subscription Expenses $ (1,181.94) $ (1,688.20) $ (1,423.61) $ (992.07) $ (1,110.23) $ (1,304.56)
Subscription Revenue $ 1,653.06 $ 1,399.39 $ 971.39 $ 1,108.93 $ 738.64 $ 890.44
Physical Sales
Merch Sales $ 26.89 $ 26.89 $ - $ - $ 26.61 $ 53.50
Printful Fee $ (15.94) $ (15.94) $ - $ - $ (36.12) $ (35.32)
Shopify Fee $ (30.74) $ (30.74) $ (30.74) $ (30.74) $ (30.74) $ (30.74)
Merch Expenses $ (46.68) $ (46.68) $ (30.74) $ (30.74) $ (66.86) $ (66.06)
Merch Revenue $ (19.79) $ (19.79) $ (30.74) $ (30.74) $ (40.25) $ (12.56)
Expenses
DO Credits $ - $ - $ -
DO Infra $ (1,350.00) $ (1,350.00) $ (1,312.68) $ (1,290.00) $ (1,454.66) $ (1,274.64)
DO Bandwidth - Overage $ - $ - $ - $ - $ - $ -
IaaS & PaaS Tax $ (81.00) $ (81.00) $ (78.76) $ (77.40) $ (82.34) $ (76.48)
Vultr Expenses $ (60.00) $ (60.00) $ (60.00) $ (74.90) $ (60.00) $ (60.00)
Total Infra Expenses $ (1,491.00) $ (1,491.00) $ (1,451.44) $ (1,442.30) $ (1,597.00) $ (1,411.12)
Recurring Services $ (276.34) $ (278.08) $ (278.08) $ (307.08) $ (278.08) $ (302.92)
One Time Services $ - $ (104.94) $ - $ - $ - $ (18.50)
Domain Renewal $ - $ (26.82) $ - $ (26.85) $ - $ -
Charitable Donations $ - $ - $ - $ - $ (407.68) $ -
Totals
Total Income $ 2,861.89 $ 3,114.48 $ 2,395.00 $ 2,101.00 $ 1,875.48 $ 2,248.50
Total Expenses $ (2,995.96) $ (3,635.72) $ (3,183.87) $ (2,799.04) $ (3,459.85) $ (3,103.16)
Total Profit $ (134.07) $ (521.24) $ (788.87) $ (698.04) $ (1,584.37) $ (854.66)
Stripe Balance $ 8,684.46 $ 2,063.85 $ 3,035.24 $ 4,144.17 $ 283.83 $ 1,449.01
Checking Balance $ 12,013.78 $ 17,993.15 $ 16,162.59 $ 17,346.48 $ 19,808.06 $ 14,278.00
Complete Balance $ 20,698.24 $ 20,057.00 $ 19,197.83 $ 21,490.65 $ 20,091.89 $ 15,727.01

As a note, March was a very bad month for fraudulent charges on Glimesh. We ended up with 22 fraudulent charges amounting to $245. We’ve since tightened down some anti-fraud levels and are now manually reviewing every transaction. Thankfully due to our chargeback protection for our streamers, they lost no money from this fraud.

As far as our finances go, we’ve made strides at the beginning of April to cancel any unused services, and downsize our servers. This combined effort should result in about $300/mo savings, which can help out our profit line a bit. As we grow, I hope that users will continue to purchase channel subscriptions and help fund the platform directly through platform subscriptions.

Glimesh News

  1. Mobile app launched to iOS and Android devices!

Previous Business

No previous business.

New Business

No new business.