Acknowledgement
Thank you for the feedback, @Jenya_K, and for holding us to a standard of proof!
Thank you to @steakhouse for their continued commitment to budget creation; without them, these numbers would be impossible to deduce.
For the contributors and community, allow us to address how we came to the former total budget numbers.
Introduction
We feel that this explanation corroborates our numbers and will allow the community to come to a conclusion on their accuracy. For a more detailed explanation of our findings, APPENDIX A in the Lido Governance Manual links to an Excel sheet titled “Budgets”.
Explanation For Budget Comparison
Here are all the budget periods ever proposed Q1 2022, Q3/Q4 2022, Q1 2023, Q2/Q3/Q4 2023, Q1/Q2 2024, Q3/Q4 2024, Q1 2025, Q2/Q3/Q4 2025. The budget periods are inconsistent which makes them incomparable – on a relative basis – when measuring total budgeted allocation. Our explanation below will only explain the totals, not the categorization for G&A, R&D, and S&M (for more information, head to linked APPENDIX A).
In order to compare the total budget allocation we must normalize for time-period. In our data, we normalized the data to be yearly. Notably, the data you see above does not account for the budgeted LOL spending because it is categorized as distinct from operating expenditures in Steakhouses Financials.
2022
Q2 2022 (Source 1)
Not accounting for contingency because that is an authorized but not allocated budget expense the Total OP EX is equal to $1,046,505.00 = 513,504 + 533,001 for Q2 2022
Q3&4 2022 (Source 1)
The Total OP EX is equal to $1,112,883 = 634,881 + 478,002 for Q3 2022 RCC
Q4 2022 (Source 2)
The Total OP EX is equal to $732,710 = 235,543 + 497,167 for Q4 2022 RCC
The Total OP EX is equal to $3,384,854 = 981,869 + 981,869 + 585,558 + 835,558 for Q4 2022 LIDO-1 Budget.
Q4 2022 Total Budget Allocation ex contingency is then $4,117,564 = 732,710 + 3,384,854
Total H2 Budgeted is then $5,230,447 = 732,710 + 3,384,854 + 1,112,883
Total 2022 budget is $6,276,952 = 732,710 + 3,384,854 + 1,112,883 + 1,046,505.00
2023
Q1 2023 (Source)
The Total OP EX is equal to $5,684,998 = 1,230,735 + 1,230,735 + 931,152 + 1,437,458 + 527,458 + 327,458 for Q1 2023
Q2/Q3/Q4 2023 (Source)
Total Op Ex is equal to $20,500,000 = 4,900,000 + 11,600,000 + 4,000,000 for Q2/Q3/Q4 2023
Total 2023 budget is $26,184,998 = 20,500,000.00 + 5,684,998
2024
H1 2024 (Source)
Total Op Ex is equal to $22,500,000 = $6,500,000 + $10,900,000 + $5,100,000 for H1 2024
H2 2024 (Source)
Total Op Ex is equal to $24,600,000 = 6,900,000 + 14,900,000 + 2,800,000 for H2 2024
Total 2024 budget is $47,100,000.00 = 24,600,000 + 22,500,000
2025
Q1 2025 (Source)
Total Op Ex is equal to $11,100,000.00 = 3,500,000 + 4,900,000 + 2,700,000 for Q1 2025
Q2/Q3/Q4 2025 (Source 1, 2)
Total Op Ex is equal to $45,490,000 = 3,680,000 + 1,000,000 + 5,930,000 + 13,280,000 + 21,600,000 for Q2/Q3/Q4 2025
Total 2025 budget is $56,590,000 = 11,100,000 + 45,490,000