12-Month Operating Expenses (Opex)

Laso's average monthly operating expenses are approximately $14,354, consisting of:

• $11,153 in operating expenses.

• $3,200 in card spending costs.

When planning the raise, the team originally proposed a $30,000 monthly allowance, which was intended primarily to cover salaries. Since then, Laso has updated how revenue flows through the business, resulting in a higher monthly allowance of $50,000.

Previously, revenue flowed from exchanges into Laso-controlled bank accounts, where it could immediately be used to pay salaries and operating expenses. Under the new structure, revenue first flows into the treasury before being transferred to bank accounts only when needed to pay vendors or settle on-chain expenses. Because of this additional step, operating expenses are effectively paid with about a one-month delay.

To accommodate this change, the monthly allowance was increased from $30,000 to $50,000. The allocation is intended to cover:

• Approximately $30,000 for salaries.

• Approximately $20,000 for operating expenses from the previous month.

• A buffer of roughly $5,000 to account for timing differences and unexpected costs.

Breakdown of Operating Expenses

The $11,153 in monthly operating expenses includes several categories of recurring business costs.

Approximately $4,925 consists of typical on-chain operating expenses. Banking fees account for around $530 per month, while approximately $3,200 covers card-related operating costs. The remaining expenses include recurring vendor payments for services such as Google Cloud, Chainalysis, and other infrastructure required to operate the platform.

A significant portion of operating expenses—approximately $5,700 during the referenced month—was related to customer refunds. Unlike refunds in many traditional businesses, these are not necessarily permanent losses. In many cases, refunded cards remain fully functional and continue to be used by customers, making these refunds operational in nature rather than representing lost inventory or unusable products.

Overall, the updated treasury structure and increased monthly allowance are designed to ensure Laso can continue funding salaries, infrastructure, vendor payments, and customer operations while maintaining sufficient liquidity as revenue flows through the treasury.