> For the complete documentation index, see [llms.txt](https://dataroom.tmines.com/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://dataroom.tmines.com/financials.md).

# Financials

### Revenue model

Revenue is weighted toward recurring streams rather than one-time transaction fees:

* Issuance and onboarding fees (one-time).
* Ongoing issuer servicing and compliance fees (recurring).
* Settlement and transfer fees (volume-linked).
* Data and provenance licensing (recurring).

The balance sheet is **asset-light and debt-free** by design.

### Projections

\[Insert financial model: revenue build, operating expense, headcount, runway.]

### Capital plan

\[Insert raise size, tranche structure, milestones, and capital allocation.]

> Figures in this section are forward-looking and subject to the assumptions and risks described in **Risk Factors** and the Private Placement Memorandum.


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