Let's try to this is smart business moves. Hey y'all St. Patrick's Day Eve Okay, what is up with? My window is different now What's wrong with your window? Well in the past You remember how I used to tell everybody you had to pick the tab comments or chat I'll have that option anymore Well, hey Linda didn't eat All that's always here Make a comment so I can see where you're gonna show up for me So you don't have a little bar over on the right that? Leslie just said hey Okay, I see what it is. It's There is just new functionality. Hey Christian love that name for the record. I just love that name Do you have your second wonder hooked up yet? Yeah, I haven't hooked up. It's at a different office Do we really need to do the go fund me thing to get your second monitor? Okay, the second monitor is not the it's not the cost You know how big my monitor is right? You remember like 42 inches. Mm-hmm I don't have room on my desk For two monitors because I have a cat over here on one side I have my monitor and I have a plant and My my lamp You can't get any work done if your cat and your plant isn't there And getting more Aesthetic and Get more desktop space is it really an option either? Well for Why do I need the second? y'all are you seeing a Lack of engagement from me because you realize how much more productive you could be how much more effective You could be how much value you could be bringing to smart business moves in our audience here If you just if you can convince me you you you send me a monitor Send me a monitor. I'll hook it up. You've got a monitor and you just don't have you got it You got a plant in the way It's a beautiful plant though Tom, you wouldn't want me to get rid of this plant. It's beautiful Leslie says you need another monitor. Oh Leslie why why why why you gonna be like that? I have no room You want me to get rid of my plant so pretty the Sam's gonna be here You want to Talk about what we're gonna be doing for the rest of the week and the week after in the week after I want to talk About tomorrow let's talk about tomorrow while I pull up our schedule for the next couple of weeks Okay, did you remember me if you're gonna pull up the schedule? Did you remember to switch out my? Next this week and next week, of course not but I can do that Reminded ya. All right You two Y'all Okay Tomorrow we are having a foundation's alumni reunion So excited about that actually and we're going to be celebrating St. Patrick's Day at the same time so the reason Foundations alumni is for two reasons one is first we we miss them We want to chat with them. We want to find out what everybody's been up to and And and we just want to hear what's going on with them And and see that but second thing is we also thought that it would be valuable for you all You'll be able to hear what is working Where are some of the problems? How are people overcoming just what Tom? Well, this is that is a really cute cat. So I see why you had to post that up there. Yeah Yeah, I didn't even nose the cat. It's all about the monitor It is a cute cat and it does have really cute cat. She has In her office So anyway, so that's what we're gonna be doing tomorrow We are going to be talking about what's going well. What's not where struggles are What people have figured out what they're doing really well.  You send me a cable long enough to go from Your office to mine For the 3000 mile cable. Yeah, good idea. That's a good idea Robin. I like that Don't leave around I was gonna say I really love that idea We're we're gonna be experimenting with the technology We want to use to be able to do zoom calls that we'll be able to stream to you know our facebook pages so For smart business moves we're moving in a direction And tomorrow's the first time that we're trying and if it works tomorrow, we'll be doing it more frequently with with Our our five o'clock eastern calls where If you want to you can join the zoom meeting and actually be part of the show Or if you want to just watch us on facebook or youtube the way you currently are now You can do that too and be a spectator so you can Be on the field or you can be in the stands. Is that is that a good analogy? Yeah, that's actually really good So our lizz you are a real sunshine. Thanks leslie See tom already sunshine. Yeah, awesome. You would be with two monitors though. I think I would just be distracted like How am I? all right, so Yeah, one of the things that I really love about this idea with with zoom is Like that it'd be so awesome to just be able to chat with you guys so much of the time it's like tom and I are chatting together and then We like reference whatever y'all are talking about versus being able to talk with you We we've known this for a while, but it's not as easy as it seems to just be able to go live And do like a ring central call and have all the additional functionality So luckily we have tom who loves tech and he He he literally said today you guys. Well, I kind of want to do it the hard way Because I like to See sometimes I was just thinking how well the single path to accomplish things that personally would die At least one of those but wasn't doesn't necessarily process same as everybody Super achiever. Yay. Thanks. See I've seen it's on my side Being able to do that with only one monitors amazing. Just think about awesome. You could be with tom. I'm turning them. I'm turning them tom I've got four monitors and I still can't keep up I yeah, I do have two monitors in my office at You know at at work I actually have my laptop and then I do also have two monitors, but I The two monitors is harder unless I'm doing something where I need to go back and forth then I will And actually on this monitor. It's so large that I just split the screen So it's like having two monitors for me most of the time because it's so huge It kind of reminds me of when I do it when I split my screen it reminds me of Sarah Martin If any of you have ever seen what she does her monitors You know, normally your monitors are longer or wider. I guess then they are tall, but she flips hers up on end So her monitors are very tall And and narrow And so when I split my screen, it's like I have two tall narrow monitors like sarah martin and I mean who doesn't want to be like sarah martin. Come on now Sarah sarah thompson Oh, yeah, sorry. Oh, sorry. So sorry, sarah. If you accidentally see this. Yeah, sarah thompson Yeah, she's had her husband for years now. You think I would have that together right now All right so This is our schedule for the next few weeks All right So so I guess today is the uh 16th the St. Patrick's day It's the what? St. Patrick's day you've oh, yeah We're going to be talking about uh, how to make sense out of financial statements I'm gonna love that I'm glad he's here Okay, and tomorrow we already talked about the foundations alumni reunion I think I did say clearly to wear your st. Patrick's day swag You're going to want to have that swag. I promise Uh, so bring it And then the next day is me on necessity of consistent ongoing training and education. So remember We are bringing um our Some of our foundations topics To smart business business moves, but in a very truncated fashion And also without the workshop functionality, right? We're going to send you guys back and tell you to do stuff but We're hoping to be able to give you some some good good actionable information And give you a sense of what foundations is like All right, and then next week we're doing profitability. Yeah That's the plan Yeah um sco and plain english derrick's going to talk about which is awesome And tom you're doing what is this? Can't even say it ppe price pay price productivity and efficiency. It's a model to maximize profits Are you going to be able to do that justice in the limited amount of time that we have? We're going to go a little bit faster than we did when we went through kpis for money at the beginning of the year. It'll be you know, we're doing Much tom Well, I'm going over, you know, we're doing financial statements today and That's true. So You know, this is this will give us the gist All right, and then um on the 24th improving recruitment to improve retention If y'all are like everybody else right now in our industry, you're struggling to recruit and retain team members so we have some new strategies and some new ideas and some new information to hopefully help and um add to what you're currently doing and help you to Make some little tweaks there And then the next week, what are we doing tom? client management I like that Derek says sales is a teachable skill Um It is totally a teachable skill But a lot of times people don't think that they do think it's a soft skill. You either have it or you don't So I like that. It's going to be interesting to see what he talks about Oh, that's one of my favorite topics tom. You have to explain it though That stacking revenue of high frequency recurring revenue client No clients and that's where the revenue comes from. Yeah, it says You know part of the model that we've been talking about for for a while and it Fits right in the whole idea is it's much easier to scale a house cleaning business off of recurring revenue so How do you take a lead and not only turn it into a sale but turn it into A client who wants you to clean their home on some type of recurring basis and not only recurring basis But hopefully at least on an every other week basis so Part of it is the the whole process of turning them into to a customer and then getting them to Use your service on a regular basis and then get them to stay with you to maximize lifetime value So there's a whole strategy behind that. That's what we're talking about So it does sound like it's similar to some of the information from the kpi Workshop that we just recently did but that also sounds like it's got some new stuff in there. Yeah Yeah, it's going to be more the of the how to and some of the finer points of you know A lot of how you position your company everything from your website to your marketing material to the expectation You set with it with a prospect when you are you're engaging with them, you know on the phone Or however, you're communicating with them can influence What type of client they become so it's how to to everything that that that message that you're sending from your your branding to your communication a strategy to Presume and set the expectation that you're going to want us to clean your home on a regular basis for a long time Hey, okay Get what you expect to get Boy, uh, we and we have really been hammering on this idea of setting expectations Over the past. Well, I don't know at least six months You know, we we were really hammering on the expectation piece while we were really Hurting with the coven situation, right? It was critical that the customers know what to expect and the employees know What to expect which brings us to my topic um on Actually, it's my birthday. I just realized that Okay on my birthday. I'm going to be talking about controlling your quality standards. That's kind of cool um I think you guys all know what that means. I don't think I have to go into that but I do notice that the next day Is tom's birthday and you guys see that there are no comments there and that's because uh The first on tom's birthday and also on march 25th We have sort of surprised things that we're going to be doing. We are Still working on some fun things that we can do that Will also create value not just you know, not just frivolous stuff so One thing I love I don't know if you guys love this in your situations If you guys have anybody that that this is good for you I love having my birthday before tom's So I love that So if tom celebrates my birthday in a really great way Then you know, I'm going to outdo him and I'm going to do even better on his day And if he does nothing for my birthday tom better get a hat Point the point, huh? And if he does nothing I could still outdo him by just wearing a little But tom has my favorite birthday of all time I was so irritated when I was growing up that my birthday was on march 31st instead of on april fool's day And I think it was wasted on you tom. You don't even play april fool's trick trick It maybe it's kind of shaped me, you know over the years, you know I mean there's a lot of other kinds of jokes and things that go along with having your birthday on april first I might be a different person if I was born on march 31st. She doesn't ever know how things could have turned out maybe you maybe you would be um I'm talking to more people and spending more time out and about and visiting it I could be I could be a social butterfly Yeah I'm thinking not so I'm not thinking so Probably not no probably not. All right. Well, we better let you get going tom. It's already almost 20 after Here How do you like this deck and that doesn't look good Did you guys notice tom just put this new deck together? Uh with the cleaning profit builders on there. I like it. I think it looks good I'm doing the same thing for mine tomorrow or on thursday Since I like it so much So we're gonna talk about making sense out of financial statements So I always say financial statements. What are we talking about? We're talking about three different types of documents The first is the income statement also known as a profit and loss statement And anybody who's paid any attention to what we've been doing here, right since the beginning of the year Know what a income statement or p&l statement is. All right. So p&l is simpings profit and loss y'all right It's that document that has the income at the top Subtract expenses from it and it gives you profits and it's a little more complicated than that if you remember from Days and weeks past, but we're going to go over that here in just a minute a second financial statement That is important for your business that doesn't get nearly as much attention and discussions like this are you know Just you know managing your business from from from week to week a month to month. I don't I don't think My experience working with a lot of a lot a lot of other small businesses a lot of small A lot of cleaning businesses that that that it gets a lot of attention as the balance sheet The balance sheet has a whole another set of information on it a balance sheet talks about assets liabilities and stockholder equity So the income statement in terms of the actual profit from the income statement Flows up and shows on the balance sheet The balance sheet has a whole another set of uses that are very important to to growing a successful and Building value over the long run in your business And we'll drill in that here in a minute as well And the third financial statement that you'll need to know or you should know and is useful to you We're going to go going to share some here is a cash flow statement or statement of cash flows And this is basically just talking about cash the actual hard money you have available to you And it's the cash that you have to pay debt expenses In funded investments, and it basically shows you The cash that you have at the beginning of the month and the cash that you would have at the end of the month and What you have at the end of the month basically is what you have at the beginning of the next month And he used it to make sure that you've got enough money on hand to do the things that you need to do And what to do with inside of your business So an income statement and a statement of cash flows is over a period of time a balance sheet is a snapshot Where it's just at this point in time and you can pick whatever period of time you want but It doesn't appear it doesn't cover a period rather It's it's at that instant that that you run the report. It shows you your assets liabilities and equity And whenever you hear a company talk about generically or your account or whatever your financial statements It's basically a combination of these three documents Um, a lot of times your your cpa might not do a cash flow statement for you It's a very least though. You want to make sure that you have a have a relevant income statement and Balance We'll talk about that here in a minute I'm sure a lot of you are like me and the balance sheet is just confusing as hack. It's like I have to have the balance sheet Um explained to me or I have had to have the balance sheet explained to me multiple times What happens to me with the balance sheet is I learned about it. I learned how to use it. I understand it. I'm like, oh, okay It's so good. It makes perfect sense. I get it Talked to me about it in three months and I'm like Yeah, balance sheet. What is out again? So I haven't I mean I've sat through classes with you tom and I've I've watched you explain it I love it when you do. I always get it But even right now I feel fuzzy on the balance sheet. So I'm super excited to Do It's uh, it's not a natural thought process And After you play with it for a little bit it starts to click And what I want to show you is how these three documents kind of relate together and Like if you look at balance, she's like, well, where do those numbers come from? I'm going to try to show you that To to some degree anyway in terms of how all those numbers come together But let's get some of it. Let's get some of the easy stuff out of the way We all know what profit and loss state one of the income statement is because of what we've been doing in weeks past where You know, you've got the revenue. That's the money Your your your clients pay you you've got your cost of good sold Which is the variable cost providing your service There's an acronym that that that we've used a lot to describe that Your loaded direct world Loaded direct payroll to revenue LDP are Right. That's the the percentage that we use to determine that it's a good proxy It's a very good proxy for cost to get sold much easier to calculate Gross profit. That's the amount of money that's left over after you Pay your cost to get sold or in in our case, you know, for the most part our Loaded direct payroll And out of our gross pay our gross profit rather excuse me We pay our operating expenses, which are the fixed costs and what's left over is our net profit So net profit gross profit minus operating I feel like we've done that so much if there's anybody here that Wants us to drill in that we can No, no, we can't I'm going to send you back in time To the last There's some some videos that you can watch that's a lot of them and you can get really in depth on it. So So I want to be able to get through the foundation step one thing I want to point out on on on the p&l profit and loss statement that I see really I see this a lot More than 50% of the time When I'm looking at somebody's p&l what I see is revenue at the top All their expenses lump together and profit at the bottom And their direct payroll is mixed in with their office payroll And it's all showing up as expense and We're not separating the variable cost from the fixed cost and when you do that Go ahead. I do want to say real quick So Tom's talking about this remember we're talking about foundation So one of the things that happens at foundations is that everybody brings their quick books Information so that some of the stuff that tom is telling you about This is when we talk about the workshops. This is one of the things that has to get fixed Right, we have to we have to be fixing some of this stuff The reason why he's saying he sees this all the time is people at foundations bring their quick books with them So I just want to tell you that because some people I know are talking about coming to foundations and that's a scary piece Yep, you got to bring your quick book. We'll help you with us Leave you'll be like hallelujah I think more tears are shed in this And this part of the program than any other program because people are just like I never thought I could get it I love that So you don't want that if that's the way your your p&l looks that doesn't have a whole lot of value to I don't want to say it's completely useless, but there's not a whole lot you can do with it You can make much better decisions and make a whole lot more money a lot more profitable if You have your revenue and then below that you take all of your cost of goods sold Which is basically your variable expenses Your direct labor cost and and associated costs And you in quick books actually you don't code those as expenses You tell quick books that those things are cost of goods sold and it separates them differently on the p&l So it'll subtract cost of goods sold from revenue and you'll get a gross profit And from there you subtract your operating expense to get your net profit Once you do that you can do calculations to figure out. What is my breakeven point? You can do calculations to figure out if I can be just a little bit more Product productive and get my cost of goods sold to revenue down by a percent how much more profit I'll be making You can coach your teams and the people doing your scheduling and look at what rate increases do for you I could go I could spend the rest of uh Our hour here just talking about all the wonderful things you can do if your p&l Looks like that whereas if it looks like what it looks like under the x You can't do anything with it. So said simply it would look like this with the revenue cost to get sold gross profit operating expense net profit You guys know this we've done this week over week after week This is just another picture of the same thing you got you guys are all over this um, so this is kind of an example um $100,000 in revenue Direct labor is the biggest part of cost of goods sold But there's some other things here. You got some insurance and throwing a little bit in for For like reimbursing people for mileage and so forth and a little bit for cleaning supplies total cost of goods sold 55 So 100 000 subtract 55 000 for cost of goods sold that gives you a gross profit of 45 000 dollars So from there you separate your back out your other expenses get total operating expenses of 30 000 30 from 45 Gives you 15 000 or 15 percent pre-tax profit on 100 000 dollars Benchmarks for each one of these cost of goods sold can be you know, we're from 40 to 60 percent operating expenses You know 30 to 40 and this can vary a lot depending on your business model as we've discussed in weeks past Income 10 20, you know, I've seen people 25 even flirting with 30 percent in some cases when all the stars line up well And we're talking about employees here pretty much because things the numbers can look different when you've got independent contractors Yes, you know, this is this is built on a uh employee based model yeah So if I got a if I've got uh operating expense of 30 000 dollars and if I know that 45 cents out of every dollar that I generate is uh going to be flowing down to cover these expenses and profit I can take that 30 000 And divide it by point four or five and come up with a number and that's my breakeven point And I don't know what that is if I don't have my variable and operating expenses broke out separately and We did that here in weeks past Somewhere It's rate increase breakeven I'm gonna heck with it. I'll just do it again so There it is rate increase breakeven. I see it That's the rate increase that's the rate increase to your left two one more. There you go Yeah, that was a different calculation though. That was how many customers you could lose after a rate increase and still break even But if I know That my I'll blow this up if I know my operating expense is 30 000 and if I know that my um if my gross profit percentage It's 45 percent and with that if it's my gross profit percentage it's 45 percent that means my uh Cost of goods sold to revenues 55 percent. Does that make sense? So if I take the uh my breakeven revenue is 30 000 divided by 35 percent or 66 600 66 dollars and 70 cents So at the beginning of the month, you know, I'm I'm I'm making money. I'm not making money Well, it depends what your revenue is right and if I know that my Cost of goods sold is always a percentage that expense is always going to be a percentage of my revenue And if I know that 30 000 dollars is my operating expense to fix them out Then I know that I got to get at least 66 666 660 60 cents to break even and after that 45 cents out of every dollar is going in my pocket Can't do that unless your p&l looks like this I'll What those numbers are no way of figuring out Or We can't do anything with it if if if your p&l's all lumped up where your variable and Fixed expenses are together and all treated as expenses. You just can't do anything It's not a tool at that point then it's just information and you can't use it as a tool so and that's that's kind of the point here is That these financial statements Are tools to help you improve your business and to be your most profitable So Don't create situations where your tools are broken So We said our revenue In the example was 100 000 dollars for that month, right? We would know that if that was our break-even revenue then I take 100 000 and subtract my break-even revenue from it. I got 33 thousand dollars that Is has potential going to profit and 45 percent of that is going to profit. So if I take that amount Let's do this times 1.45 That comes out to be 15 000 dollars in profit and That's what we said down here Make sense. Yep Make sense so Why I know we're not on zoom so it's hard to ask questions, but does anybody have any questions And normally this would be more interactive at foundations. It's more interactive because everybody has their um Their p&l up on the screen while tom is teaching and he's asking questions about so what's your direct labor? What's your direct labor and trying to figure out how we can Work with whatever Is being seen and a lot of times like tom said more than half the time Everything's all lumped together. So the first step is let's Get everything separated out and get the p&l Structured the correct way But if you've got like a bookkeeper or a cpa or somebody helping you with this What you want to do is go to them and say I would like to have my cost of good sold separated from my operating expenses. So it looks Like this It looks like this Take a screen share In and we sent this out Linda absolutely you can and That's the recommendation. Yeah This is not hard to do in cookbooks You can take all your variable cost and code them as cost of good sold because a lot of times Everything just says it's an expense. So you want to change? The account type from expense to cost a good sold level separate out It'll be magic so Pretty obvious why a p&l could be a pretty useful tool if you set it up the right way, right? Yeah That's my thing. I I love the p&l. I feel like Super useful, you know, if I was Person like you are Tom I'm I feel like the p&l is super awesome because even for people like me It it's so clear and it gives such good information That's really usable they and you don't have to be the smartest person in the room I mean a lot of times people are like well, Tom's so smart Of course, this stuff is easy for him, but you don't have to be the smartest person in the room. I mean I get it right. I can use this. This is awesome And it's so helpful All you have to do is be able to understand it and then it again becomes a really good tool So I love the p&l play around with quick books a little bit do yourself a favor without any real you know Deliverable objective other than I'm just going to play around and see what I can do with it Go to reports Pull up the I think they call it the income statement. They might call it p&l. I don't remember. I think it is It's same report. Whatever they call it in quick books There's all kinds of filters at the top that you can play with in terms of Picking what time frame you want to run the report and you can also pick what periods you wanted to present the information You can just it'll present a total So if you want to say I want to look at my p&l for the last 12 months and give me a total it'll just give you One set of numbers or you can say I want to see it Over by quarter So it'll break out your first quarter from second quarter to third quarter the fourth quarter to see how the numbers are Changing quarter to quarter It'll let you do it by month so you can change it by you know, see how it's changing by month It'll let you do it by week Play with that and then it's got filters where it'll do percentages It'll do variances too. Like if you're doing like months And you want to say I want to see the variance month over month It will show you what that number changed month over month It'll do variance what will show you how that number has changed from that same month the year prior Or i'll do percentages will show you what those all the numbers are as a percent to To revenue for instance just play with it and you'll see things and you'll start asking questions Well, gee that must be there for a reason. How do people use that and ask your accountant ask your cpa Ask us, you know, we'd be we'd be glad to help you but it's it's A wealth of information and what you can do with this especially if you're playing with it in quick books and also Tom's talking about play play with your quick books and For a lot of people out there. That's like. Yeah, I'm never doing that I'm afraid to mess something up or to ruin things. He's not saying just go in there willy-nilly what he's saying is Go into the reports section and run reports any report. You can't mess anything up by doing running a report Nothing gets impacted. You could run reports all day every day every single report You could ever think of and it can't mess up anything So that's what he's talking about go in run every kind of report you can think of Or any report that you're like, what the heck is that? Why would I even care run the report? Look at it try to figure it out And the reason why he wants you to do this Look at it. Try to figure it out on your own is when you do that You're going to understand it so much better You doing it. Well, I'm gonna use my snowboard my snowboard analogy again Right. I can watch all the videos on snowboarding. I can watch tom snowboard I can watch less lee snowboard But until I Pop the board on my shoes and jump up on the mountain I don't know how to snowboard and I'm never going to understand truly what it's like to snowboard until I get Snapped into my board and get on the mountain. So that's what the reports is snap in and Take a whirl run all the reports you can think of How many people tom have we have we worked with? That the number one thing they don't want to talk about they don't want to deal with They're afraid of is quick books and then after foundations. They're like, I love my numbers now I love looking at I love doing that It's a great thing 90 it's it's it's I don't know The the software quit but it's what it represents It's the financial shape of my business. Am I do I have money or not? Am I making money or am I going broke? It's You know, it's like I don't want to go to the doctor because I might be sick and I don't want to be told I'm sick and it's like you are what you are and you need to Figure out what you are so you can become what you want to be Yeah, because there's medication for almost every kind of sickness Whatever whatever Whatever problem quit books tells you you have there's a solution for it Yeah, you can identify the problem the sooner we can start taking the medicine to make it better Because if you don't Do it I mean taking it just one step further If you don't go to the doctor Sometimes you let things go too long until they can't be fixed So don't wait just jump on in there and check it out because right now That's the perfect time. We we've got the answers. We got the medic the medicine for you So we're gonna move along here Another version of of a p&l and this is kind of a different perspective.  I can't do the math To the penny, but this is almost 35 000. That's almost 15 000 35 minus 15. This is almost 20 000 make sense It does Right minus operating expenses this product. That's the net profit. So I got 20 000 minus 11 500 That leaves me about 8500 here And so remember Tom was talking about those reports. This is a report that you could look at you see how on the right hand side You have you ever wondered how do people know what percentage they're spending on On office supplies? How do people know that? That's how they know that it's just on a report They don't have to do anything special They just say this is the report that I want to look at and then they can see how much do you spend on Breakage and damage. Oh look that's on here. I mean you have to be tracking the things that you want to look at But you could if that's something that you're like We break a lot of things in our company. I don't know. I need to be tracking that you could And in quick books if you want to know what these numbers are as a percent to income There's a filter you can just click on it and it'll do this for you and report for for the pnl so you don't have to Do these calculations yourself and quick books will do it for you Talk about a balance sheet balance sheet complete the separate report um You know the the pnl is Where we start it's the most I believe it's the most important report as as as operators of cleaning businesses If i'm stuck on a desert island and I can only have one financial statement. I would want it to be the pnl yeah But a balance sheet is something that you should look at from time to time You should talk to your you know your your cpa. There's some things on it that are important that you need to know and understand It's a snapshot in time of your company's assets liabilities and owners equity So Tom is mentioning the snapshot in time you guys Tom can you explain why that's important because it's a really big deal About the balance sheet you never hear him say that about pnl You don't hear him say that about the cash flow. You'll only hear him say that about the balance sheet If I run a pnl for last year And compare it to the pnl for december of last year The numbers for the entire year are going to be a whole lot bigger because i'm adding up Income and expenses and profit for an entire year as opposed to just a month Okay, so for a period of time A balance sheet is a snapshot It's like you don't add your assets up. It's kind of like is think of a balance sheet is your weight So I weigh myself every day and that's a snapshot in time It really isn't relevant for me to take my weight every day and add it up and say my total weight for the month of March is it was some really big number, but it really doesn't matter what matters is What I weigh at that instant in time Well, does the average matter because I might want to know what the average is of my weight over Of course of a month or a year would that matter with the balance sheet? You can do that and you can run your balance sheet for various snapshots in time Because really, you know you weigh yourself every day each one of those is an individual snapshot in time and you can Average those you can take variants And we do this i'm going to have an example where you look at your balance sheet at the end of You know december and compare it to your balance sheet for at the end of january to see how some things changed What you don't do is take the numbers off your balance sheet for 12 months and add them together And so this is my balance sheet for the year what you can say is my balance sheet Look like this at the beginning of the year or the end of the year or the middle of the year yeah P and l you add the numbers together And if you do it for you know two years the numbers are going to be bigger than if it's one year But a balance sheet is just stepping on the scale at that instant Yes, great that scale analogy is really good really really easy to understand So assets those are the items that your company owns that can provide future economic growth An asset you know One of your biggest, you know assets is cash Well, you know how much money do you have in your your your your checking account? um You know vehicles are if you buy your your your vehicles they would be consider assets you know certain pieces of equipment if You buy a piece of equipment for the expectation that's going to last longer than 12 months That would be treated treated as as an asset computer equipment stuff like that Uh liability is money you owe So if I buy a car that has a value of $20,000 and I pay $5,000 down Then theoretically I've got a liability of $15,000 I might be financing the rest of it over five years The equity that I have in that car would be $5,000 less depreciation because it really isn't worth $20,000 anymore, but So the assets are the things that you own the liability is the money that you owe And you take the difference between the two and that is owner equity That is the real value in your business and that doesn't mean what your sales price is if you're selling your business That's a completely different calculation But what you can do is look at your balance sheet over various snapshots in time And if that owner equity keeps going up, that's telling you that you are acquiring more assets or You know getting rid of liability and you're creating more value in your business If you keep doing that over the long run, you're going to have a more valuable business And you're going to be a wealthier person wealthier business owner This is what a balance sheet looks like and You've got your assets at the top and all of these things here are various types of assets you can see All your bank accounts is an asset and you see we've got two columns here One is december 17 and the other is january 18 And these are run at the end of the month typically So the end of december these were the numbers into january these are the numbers And guess what the end of december is the same as the beginning of january for these purposes So basically the difference between these two columns is what happened over the month of january Same as you know, I weigh myself at the end of december. I weigh myself at the end of january I take the difference. That's how much weight I gained or lost over the month of january That's january. We gained No, you lose it over in january you gained it in december or you're dying, you know So a couple of things to look at here Assets of cash assets could be considered accounts receivable.  That's money that's been paid to you But it's in the form of a check or a credit card that's being processed and the money is not in the bank yet You don't want to say it's in the bank, but it's there. It's coming. So you treat that as an asset You take these two green numbers and you add them together That is your total cash and this shows up on your cash flow statement. I'll show you that in just a second Um From a cash standpoint Well, let me let me do this. So yeah, I got my assets up here. I got my liabilities down here And this is money you owe Current liabilities are moneys that you owe within the next 12 months long term liabilities of moneys you owe over a longer period of time so things like car notes if you got a If you own any property a building or something that you're paying off of our long period of time All those are considered long-term liabilities. So I've got assets of 140 liabilities of 158 Remember assets mining this liabilities is total equity kind of negative equity of $18,000 almost 176 That's not unusual because you know a lot of times Small businesses wind up, you know borrowing money to get things going and making investments And you know, you can get to the point where you've got negative equity That's not necessarily a terrible thing What you want to see though is that negative number getting to be a smaller negative number over time if you notice that In january that negative 17 goes down to negative nine so Um, that's a good thing And you can see it's a good thing Over here on the third statement that I want to show you is the statement of cash flows um operating at oops in basically you add all these numbers up together and that basically tells you how much cash you're generating for the period and If your cash is going up over the period and you can see that down at the bottom here where um At the beginning of the period you had $18,000 in cash and at the end of the period you had $17,000 in cash You basically Spent a thousand dollars more in cash Then then then you actually collected doesn't mean that you were losing money. You were making money Because all these are tied together here if I go back to my p&l I made $8400 As you can see here net income $8400 so my p&l said I was making money but My accounts receivable Went up by $5,000. You see I got a negative 5400 dollars I go to my balance sheet when I look at my accounts receivable It was people owed me $2,800 at the beginning of january. They owed me $8,200 at the end of january so something happened and You know people owe. Oh this company, you know 6,000 are not quite 6,000 5400 dollars more At the end of january than the beginning of january Does that make sense? Yep dollars are kind of kind of tying it together here these two green numbers together give you The cash at the beginning of the period if you remember The difference between the long term liabilities here Basically give you the cash it takes to cover your financing activities That's basically the principle you're paying on your your car notes and stuff like that You add all these numbers together here and it gives you this number of Negative 170 dollars basically so 170 negative 170 minus negative 9 so basically this company is breaking even for the most part it lost 170 dollars out of operating whatever when it was covering Didn't really lose it, but when it was you know Subsidizing the accounts receivable and some of the other things up here But then it had to pay the principal on some some long-term notes and it wound up Spending 1,100 more in cash than it actually had Okay, how many people how many people are following the statement of cash flows? And how many people are thinking my I might need a little bit more information here We don't have a ton of information. So if you need more don't worry Um that you know what we have ways of getting more information to you But if you need more let us know Tom I did have I know we're kind of tight on time But one thing that I know messes with people a lot Is why is the total assets? Why does that equal the total liabilities and equity? I think for a lot of people that's confusing because When you're looking at your p&l the number at the bottom is like the answer But that's not how a balance sheet works well In a simplest form pretend you're buying a car and that's the only asset you have Okay, and you Pay 5,000 down. It's a 20,000 dollar car.  The car is the entire Value of the car and it's your your it's your car and it's worth 20,000 dollars. Yeah You own 5,000 of it And that is the equity if you will the owner equity and the bank owns 15,000 of it. That's the liability right But it feels like my car Well, it is it's your car and you and the bank own it together you own 5,000 of it the bank owns 15,000 yeah All right, and so that's why these numbers match because All the numbers all together still have to add up on both sides so Ideally you want to see your You know like working your liabilities down.  You want to see your um, you know equity improving month over month No, there's exceptions to that Strategically you might be making investments in your business that are going to, you know Return, you know give you bigger returns in the future But the balance sheet is important to understand how these numbers work and how they tie into the statement of cash flows And this is really important if you constantly see month over month that the ending number is less than the beginning number That's telling you that one day You're not going to have it a cash left You got to figure out, you know What do I need to do next month to make sure the ending number is bigger than the beginning number? And in this case, I would say well, gee whiz. What are the big negative numbers up here? So you can get accounts receivable I need to pick up the phone make some phone calls and get some people who owe me money to pay me So next month this number is bigger than what it was at the beginning of the month so these when you are selling your business or buying a business but For most people they're thinking about when they're selling their business It's important to have these these you're going to have to provide all of these financial documents And so it's important that these numbers look the way you want them to look for the potential buyer Because if they see that that number keeps getting smaller and smaller They also don't see this as a strong company and if they see that the equity is not getting bigger You're not getting more equity Then they're they need to know why were you investing? What were you doing? Why where? Where where's that? So it's important that you look at all of these so that you know what your position is not just for yourself but also to the bank to other potential investors and Also for yourself, but so that you know how to Move forward. This is why you do this You know, it's not about how many homes you can You know, it's about building value in your business. It's about building profitable businesses and is through You know understanding having having a p&l that's structured properly and understanding what your balance sheet is telling you and are you growing equity and Is your cash flow? Healthy, you know, is your cash flow at least staying constant, you know, you know losing cash month over month those are those are to know The hour tomorrow is the st. Patrick's day alumni reunion Zoom it's gonna be crazy. We're gonna have green beer Of course bring your green beer. Absolutely. That might count in your favor Am I Yeah I like when you have a little beer too. You're even funnier Okay, we'll see you guys tomorrow five o'clock. Bye. Bye y'all


A one to one scale procedurally generated galaxy based on real scientific principles and genuine astronomical data featuring billions of star systems, gameplay focused on science and exploration, on foot gameplay as well as spaceships, single and cooperative multiplayer. All of this and more is part of the proposed feature list for the in development indie title Starship Simulator and if this is sounding familiar to you then you'll doubtless understand why Starship Simulator has piqued our interest. To the casual observer Starship Simulator may appear to be just an attempt at a Star Trek ripoff but whilst the tech demo for the game which is available to download and try now does share some obvious design cues from shows like Star Trek the proposed gameplay options go way deeper than the more channeled and less open world offerings that particular franchise has historically been able to offer up when turned into a game. Not only is Starship Simulator not going the heavily scripted spoon-fed story experience way with its players instead being encouraged to, dare I say it, blaze their own trail but the experience doesn't begin and end with the sliding doors at the back of the familiar bridge setting. As well as simulating a one to one scale galaxy as the name implies the game is simulating the Starship as well. The entire Starship, all 200 plus rooms and seven decks on board the ship including recreational areas, conference rooms, the reactor room, crew and passenger quarters with plans for a fleshed out shuttle bay and medical facilities and with all these additional rooms on the ship then the roles available to players particularly in multiplayer expand to accommodate them. Choose to be the ship's engineer and you'll find yourself responsible for maintaining and repairing the ship's systems ensuring critical systems in particular are ready when the bridge crew demand them just like a regular miracle worker. Science officers will work from a dedicated bridge station scanning stellar objects and performing tests on samples and procedurally generated artifacts gathered by the ship and crew. Once deemed safe these artifacts could even be used to adorn your ship. Likewise tactical officers will handle the ship's defenses from a dedicated station on the bridge but during away missions down to the planet's surface via shuttlecraft launched from the ship's aft shuttle bay you'll also become the team's security detail. There's even a planned role for a morale officer doubling up as a chef and barkeep in the lounge area your doubtless need to include excellent listener there amongst your skillset. Not only is the plan to fully outfit the ship with a full complement of roles to be filled NPCs can also take the lead with this stuff by the way for the more single player minded but as I mentioned and indeed as the name implies the Starship itself is fully simulated. Right now the tech demo features a working reactor and electrical system complete with banks of batteries and a working electrical distribution system with usable switches and multiple points of potential failure. Power can be shunted away from an entire deck for example plunging it into darkness and the system is only set to expand in the future. The ship itself including its wiring and systems have been designed in CAD software using the same real-world principles as modern naval vessels and then ported into the unreal engine every button switch and readout on the ship does something. Going forward the developers Fleet Yard Studios are looking to add procedurally generated alien civilizations at varying levels of technological advancement to populate the galaxy all of which will have their own personality traits and potential for aggression making diplomacy just as important as defense. As you perhaps expect your character will be fully customizable but you'll also customize the ship's interior color scheme and lighting without the need to purchase skins or paint jobs. The plan in fact is that the base game with everything I've just described will always be free the developers do have future plans for more very different spacecraft that are an optional purchase and also for single player more scripted story type experiences that will also be paid content. The team are soon taking the game to kick starter in order to start the next big steps in development adding more gameplay and life to the ship and the galaxy. Right now Starship Simulator is one of the featured titles in Steam's next fest that aims to showcase and promote promising upcoming games that festival runs until the 26th of June. You can download the tech demo of Starship Simulator for free and take a look around the ship in single or multiplayer whilst also exploring the galaxy. You'll find links below to the Starship Simulator discord server and website if you're curious to learn more. That's it for now we'll be back later this week with more videos if you enjoyed this video be sure to like and subscribe to make sure you see all our content and if you'd like to help support our work here at the Burpit you can also become a patron and gain access to exclusive perks content and community events just like the wonderful folks you see listed on screen right now.


Okay, so in the Bookmap Platform Details webinar, we're going to go through what Bookmap is showing you and kind of define and outline the visualization of Bookmap. Okay, so it's a pretty unique platform and it looks like there's a lot of detail and a lot of information here and there is, it's actually pretty simple though and I'll go through it and I'll show you in the demo here. But let's start off here with the risk disclaimer. Trading equities and futures involved, substantial risk of loss is not suitable for all investors. Past performance is not necessarily indicative of future results. Let's go to bookmap.com for more information. You get a 14-day free trial. It comes with education. You get access to the advanced live order flow webinars. That starts in about 25 minutes and then you also get access to the bookmap educational course and there are a lot of other resources as well. So there's really no risk to it. Try it out for 14 days. It's fully functional and then you've got the education that comes along with it so you understand how to start to use it in the in the market. So we really drill down in the advanced order flow webinars to get into what bookmap is showing you. Okay, so this is where you can find bookmap, go to the pricing tab or free trial here and 14-day trial period. You can see the bookmap basic, bookmap advanced and the quant. Now there's really only one version, bookmap basic. These other versions have different features. Okay, so for example the advanced difference here is the ability to trade right from the chart. Okay, that functionality as well as a host of proprietary indicators that we have. There are other advantages as well but if you want to see that you can click here and get the complete comparison. Now if you are new here and you just need you want to try bookmap but you don't have a futures data feed you can get maybe a click here and get a demo to a data feed as well. All right, so two weeks of bookmap and two weeks of a data feed and that should get you up and running so at least you can try it out and see if this is something that helps you make more informed trading decisions. Okay, more information on the website here if you just go to the beginning there's an intro video scroll down here this is where you can register for the webinars as you guys know. A bit further down you see the platform the benefits and then the link to try testimonials bookmap for equities. Okay, we also have equities it's an excellent data feed. I can if anyone here trades equities let me know and we can look at a few equities because some really unique information there in the equities because those markets are usually a bit thinner and the larger players stand out a bit a bit more. Okay, also some of the advantages here with that NASDAQ total view the depth of market is complete full depth of market as well as what we have with some of the data providers okay connectivity okay we're not a data provider we're just a software platform so you will need to connect bookmap with one of these data providers here. Alright, so for example I am using rhythmic okay and rhythmic also offers something very unique here okay it's similar to this DX feed up here for NASDAQ total view. CQG offers this as well they offer full depth of market alright so the limit order book you know when you usually look at a dome let's in fact me let me bring up a dome here see I'm gonna have to bring it up here okay so look at there's you can see 15 here in oil and crude oil alright on the offer and on the bid here okay so that's a dome this is what we're usually accustomed to looking at okay now take a look at what I've got here displayed in bookmap and crude alright that's gold sorry go to crude all of these levels here are live all of them okay so there's no limit to it so if I want to know what price is doing a way up here at 56.25 you know this is 25 points away from the market or more than that or ticks you know you can see that liquidity alright so that's that's what I mean with full depth it's an excellent CQG also offers that for COMX and NIMEX rhythmic also will rhythmic offers it for COMX NIMEX and CME products too so just want to make you aware of that so anyway that's where you can find all about the data feeds how to connect bookmap and then the pricing in the free trial here okay and some of our partners are down here you can also follow us here on Twitter at bookmap underscore pro and on YouTube okay there's a intro video here some intro videos playlist here okay they're very short videos features and components playlist here so you can click on the link at the top and this will take you to the entire playlist right to understand what you're or how to use bookmap now the order flow video snippets I would suggest you watch these that this is what we go through in the advanced order flow webinars okay this kind of phenomena and context of the market right so understanding the order flow and these are just very quick videos that go that cover the same concepts we go through it in depth in the in the advanced order flow webinars okay so let's take a look here we're up at all-time highs in the NASDAQ I think I'll look at the NASDAQ that's been what we've been doing lately and I've seen some pretty good stuff so let's go back and take a look here okay all right here's bookmap all right so what am I looking at well let me zoom in just to a little bit more here's our 930 open here New York time okay you can see the the aggressive buying it comes in charges up through into these areas and it's been a nice nice trending day at least to the upside so far okay and it's not such a great trending day to be honest but looking at the profiles here anyway let me get into some of the details here so this looks like and it might be overwhelming for a lot of you guys if you're not accustomed to looking at a bookmap chart okay it's actually really simple stuff there's three pieces of information key pieces of information being displayed here okay one is historical best bid and offer okay and I'm gonna turn off volume dots and I'm gonna turn on leave that on let's get really heat map and indicators okay historical best bid and offer that is it okay it's as simple as that just what was the best bid what was the best offer recorded okay current market is right here this is your current best bid and offer all right so now we also display the volume on the historical best bid and offer where did it trade and that's what the volume dots okay so that's the second layer of information that's it all right this is similar to a footprint chart in a lot of respects actually shows quite a bit more than a footprint chart and I'll get into that in just a minute and then the last item here is the heat map okay this is a recording of the depth of market okay so all it is is let me zoom in here and we'll I'll review this again but note up here like high liquidity appear at well let's say 6313 98 contracts are up here right it's bright white okay so that's what is showing here in the in the order book okay it's being recorded and it's being projected on the chart historically so that's it so now I understand where they actually really want to offer the larger players want to offer up at these areas okay anyway let's go into it a little bit further and show a candlestick chart because I want to show you what what we're missing with candlestick charts footprint charts and other charts because they just they're not offering the level of transparency here to make more informed trading decisions a footprint charts are great I like them very much that's not the the problem here is that I have anything against them it's it's much more about just being objective about the data and the information the problem here is with a footprint chart as well as a candlestick chart or any other sort of derivative of time price bar rotation you know it could be you know bar rotation chart it could be a you're looking at you know volume chart or you're looking at you know ranko bars etc it still has some sort of rotation involved in it and that obscures the well there's just less transparency okay so and how how is that well here's this looking at this five minute candlestick chart is the same thing on other charts this is open high low close of a five minute period that's it what we're trying to read here is the pressure of the buyers and sellers by the wicks and the bodies and that's asking a lot here because we have no idea where the volume is actually trading and we don't know what kind of volume it is and we don't know how much okay we do have a volume sub chart like most most trading platforms however that's just giving you the overall volume and the spikes okay like for example here where did the volume really trade did it trade in the breakout right here or did it trade at the top most of it or did it trade somewhere here where we get the pull back right to it in the middle of the candle okay those are all questions that we're going to answer here in just a minute okay looks like it it came back into this area because look at how buyers are stepping in again right now I'm just I'm just guessing though right we're gonna know factually here and that's what allows for these kinds of trading decisions okay you would if you were trading off this candlestick chart you'd be missing it already okay you would have been getting in up here and and all of this other risk here in four or five points in the Nasdaq you'd be you'd be missing okay so that's like 20 ticks anyway let's just add on the best bid and offer okay okay so here we go all right now best best bid and offer we we're starting to understand now micro structures in this candlestick that is that are unfold have unfolded or are unfolding okay so here here's the the quick move to the upside we kind of went sideways here I mean this looks like a short on your candlestick chart you see your double top here you see the the wick you see the the selling coming in you actually we close down below it okay this this is a reversal pattern in your candlestick chart well you guys are getting I mean those those that went short here those guys are going to be getting stopped out up in these areas I mean we see that this is very indicative of a stop run to the upside right here anyway so why is the micro structure important okay and historical best bid and offer captures it very nicely so let me show you why okay and this is just the the basics here we see consolidation and you can draw on the chart here okay see note this call it consolidation zone here okay well we traded up we came back down out of this range here it broke out over here it came back down and went sideways within this range and then it broke out again here okay all of that data is lost within this candlestick you have no idea this is just kind of like a doji or standle standard candlestick candle here okay but what we want to understand is how it broke the structure and and where the transactions are and then also how are they bidding and offering in this area that's going to give us a lot of insight to this move and and the the breakdown of this move here okay so let's turn on the volume dots okay and here we go now we can see where the transactions are actually taking place okay this looks pretty good it looks pretty good to the upside as as you can see here we see more volume trading at higher highs okay that's usually how a trend works okay actually you start to see a lot of selling coming in as well okay at some of these lower high or higher or lows I should say okay so we're starting to see like maybe a reversal potential reversal okay now we break down below here and then look in this area here okay do we see a lot of selling there's some right but it's countered by the buying and then look at this area right here do we see a lot of selling no okay this is where the the bulls can take charge and they do right they break the structure right here there's like a little double top right here okay if we zoom in a little bit more okay you can see it or you can see the the sideways action and we have more volume trading up above here okay we have less selling down here the bulls are in control okay we're going to come up and we're going to test this area up here okay and that's exactly what we do okay and and we get a bit of a breakthrough to the upside all right okay so that's what the kind of transparency you can see here that you're missing with these bar rotations and candlesticks okay you're also going to miss this kind of fine detail and understanding of what's going on in the market in your footprint chart because it's going to be rotating back and forth as well you're not going to see this microstructure and that's a problem okay we if you didn't catch the break out here look at the nice pullbacks here okay one and two okay for looking for testing the high get the test probably take take partial profit here and then try to hold the rest for the for a runner you know you would have if you moved your stop up you would have been probably hit at break even but you would have gotten your partial here okay or if you saw that this breakout to the upside and you start to see this move to the downside you might have reversed okay because now you can see that the bears are in control very clearly here okay we're looking for a few different things to happen in the change in the order flow okay but we want to see more volume trading at lower lows we want to see structure broken okay and we start to break that or we tested at least okay and then we have more volume starting to trade out a lower area here okay so now here's where the trap is okay we come right back up and we see the bear the the these people who who sold the breakdown here okay they're gonna get stopped out on the way up okay we see the the aggressive buying coming in okay and they and they they're still up here okay so this would be another change in the order flow we see it over here and we see it over here anyway I'm getting maybe a bit ahead of myself here in in general and we're just looking at traded volume right and and understanding what's going on with the traded volume okay what about where they bid in an offering that's gonna give us a lot of insight here okay and let's just take the candlestick off here okay looking at the at the chart here this is a this is a chart we're pretty accustomed to looking at volume and you know historical price okay where price traded okay we're just showing the micro structure with historical best bid and offer now you we can before I get into the into the heat map here and liquidity map let's just zoom into some of these areas because we want to see some of the detail here here's the same the same pattern you know that we were just looking at before this is what we go through in the advanced order flow webinar they they hit the bid pretty hard they then you see the the bowls come in here but then look at this this retest here is actually it retested a few times right and where are the sellers now they're not here okay looking for it to reverse here looking for more buyers to trade above and we're looking for above this little swing here that's where we want to see the buyers and then here they are okay and we're looking for up to the upside here okay all right now let's go zoom into some of these areas and show you just what we're recording here okay we're recording all the action okay so these little dots here these little green dots are market buy orders that you want to know exactly what it was we can hover over this using the data tip tool and we can see it okay market sell orders the red dot here this is they took liquidity off of the best bid okay that's how it works when you hit the market sell button you're taking liquidity off of the buyer here that's providing liquidity okay it's the same here with the with the aggressive market buy is taking liquidity off of the seller this is where the the transaction takes place okay note how we're giving you every single bit of detail here and we're down at microsecond level so all of the data is here every event is recorded this is a tremendous advantage okay especially if you're trading algorithmically but as I zoom out note what we're showing and displaying okay we're giving it you an overall view of the of the volume and the pie display here is showing you like this big pie display over here is showing you that the majority of it was selling and there was some buying okay about 25 percent looks like is buying and the rest was selling okay so it's all still here all that data is still here it's just that we've recorded it I'm sorry we have recorded it but we're we're showing you the the overall okay the overall delta of that volume as you zoom out right now to get into the heat map last thing and then and then we'll we'll call it a day here okay so that's really an important aspect of price okay it's to understand the volume what's equally important is to understand the auction where they bidding and offering okay we want to know that if you show up to an auction and you don't know that information well you're at a disadvantage you might overpay for something you might underpay or you know for something whatever whatever the case may be if you're you want that kind of transparency so how do we usually find that transparency that's in the limit order book okay and we can see in the dome here this is the book map dome current order book here's our price ladder this is a best bid and offer reflected here as well and last traded volume is right here okay and and we can see the the liquidity here okay these are contracts up here at 63 20 121 contracts big player up here okay we know that with our large lot tracker which is a proprietary indicator okay so look at down here at 63 12 looks like a lot of liquidity here big big player down here with 95 contracts okay this is we're starting to understand what's going on here now the problem with this is the with the dome is that these numbers change they change all the time in it and we we have no clue what was there once it updates okay there's a lot to remember here and that's a that's an issue okay so how book map solves that issue is with the heat map okay so we take these areas of high liquidity and they'll be painted in this window here and the heat map okay so you'll see that the heat map change in this window here okay that's the adding and pulling of liquidity okay now this is recorded and then it's plotted onto the chart historically so now I'm starting to understand where they are in the in the auction here on the offer and these little striations in the in the heat map as to showing the adding and pulling of liquidity that's all it showing but that's offering us a lot of transparency here we're starting to understand these players and their intent to trade at these levels okay so for example we can answer this question right here at 63 12 did this these players here providing high liquidity do they want to trade we're gonna answer it here in real time no they don't they don't want to trade here okay why is that well because they're pulling the quity when price comes right down toward them okay they're they're they're adding it and pulling it but look at look at how they pulled this liquidity right when this the sellers hit the bid into this area here okay so these these players at this level did not trade okay we just see large aggressive selling just took place here so maybe we'll come down and now test a higher liquidity down in this area okay at 63 10 and three quarters okay that would be the target for the sellers okay that's the way they know they'll find buyers okay and there we are now did these these guys want to trade no they did not okay now they're showing a little more interest here 63 10 and a half okay so it's just understanding the auction and just reading it just like we were now in real time okay understanding that the the market needs liquidity to trade it's searching for it the sellers are searching for the buyers okay the buyers you know if they're looking for sellers up they're up here now at 63 13 right so now we have the complete picture of what's going on in with this instrument okay we understand where they're committed with the with the volume dots we understand micro structure now structure breaks and where the volume is trading within that to give context to potential breakouts or or trending environment as well as understanding the intent of the traders at these levels okay this is a very very clear and objective view of the marketplace okay it's not it's not an indicator it's not a derivative it's just the market and and we're understanding the market and reading the the intent of the traders in the auction and and their transactions okay what is the number in the brackets Tom okay well this is a new feature I'm gonna actually I'm gonna send you to a video and because this is a unique new feature and it's it's gonna be extrapolated into even more information in the next release of bookmap but basically this number the white number is showing you the aggregate of the last traded volume and then we're seeing them if they continue to like hit the bid or lift the offer you'll see it aggregate here in in the parentheses all right all right let me let me find that video for you and let me show you where you can find these videos okay so bookmap on YouTube scroll down here let's click on features and components okay this is the playlist here we'll scroll down here and our new feature is right here the aggregate volume counter okay so I'm gonna copy this and I'm gonna put this into the chat for you all right it's about four minutes three minutes 52 seconds and yeah it'll explain it in detail it's a really nice feature a lot of trade a lot of professional traders have asked for this so that's why we're providing it to really understand that this is very detailed order flow understand like you know hitting the bid lifting the offer and you know these are traders that are very aggressive looking for just a tick or two in a lot of cases okay they want to understand where where those little micro rotations may take place okay all right guys well that's the overall let's let's call it a day if you are in the the bookmap trial then jump over to the webinar starting in just a minute here and then we'll go through the advanced order flow analysis okay okay so it comes with the free trial for 14 days all right guys yeah take care and we'll catch up with you tomorrow


I feel like I'm not from the Bronx.  That's true because people in the comments definitely feel me So I just I want to be able to relate to I feel like so many songs. I can't play with my family Yeah, I feel like that's that's true. I'm tapping What's gonna hit the radio like what's gonna be one of those bangers you got something to talk Of course, what's something we could look forward to? Friday night you can hit out Legally the demon child Need my respect, I mean more trio Because of y'all I Came in a game different to everyone else Everyone else came in for me except for Me whoever came up up by themselves. I forced my way in the door. No feature. No, nothing by myself Forced my way and I came out of nowhere. Literally. I came out this year. It's all my progression from this year Okay, you came up this year. They ain't do that end of the year Worship and they ain't do that. I feel like I just thought of staying you when like This October, yeah, that's when I tapped in you was working before that that Lee Single like basis. Yeah Okay, so when I start him I shoot in October. So from From the end of the year. I feel like the end of the year was shows from the whole year. So for me February March and then the most disrespectful. I feel like that had to be me.  Yeah, that's the only person I could say that challenge me with disrespectful There's not a thing like y'all want to be the most disrespectful like no, I just my personality in person I'm really this is like not like and when it's business time Respectful Yeah, I don't feel like that's like I feel like as an artist I wouldn't be want to be known as the most disrespectful Yeah, I don't want to be known as disrespectful, but I am but it's not purposely it's just Yeah, and the music of course, I'm gonna get to a point in my music Instagrams I'll be disrespecting you want to grab y'all tell me in the comments Let us know the lily the leads really be while it on it. I don't be disrespecting People thinking we have no beef is no be but like I said, I need my respect on the music tip I feel like poetry or buzz in October.  That's true because people in the comments definitely feel me So I just I want to be able to relate to I feel like so many songs. I can't play with my family Yeah, you know, I feel like that's that's true.  What's what's something we could look forward to? Friday night you can hit out I can show y'all slow snippet of that I was gonna say so um So when would you say you started taking music seriously though? My first song I dropped not even after that. I started taking music seriously when four or five months ago and I really made it happen like even after my first song I still wasn't even taking the serious even my first song. I wasn't taking that serious. It was just a song Because I Used to write songs and used to take me like a month and then when I realized I write a song in ten minutes It's too easy It's way too easy That's why one of my man's was telling me that too like drill rapping has gone too easy for you It is because it is I'm never gonna run out of nothing.  Well, then I ain't gonna Like a poem I ain't gonna I don't like being compared I just want to be me Now he wasn't I just don't want I just don't want to be compared to nobody like I just I want to be that perlake. Yeah, when they speak meek. They just speak me like me in his own I thought I want to be I just want to be in my own You say leads really you don't compare him to nobody nobody like him for me Okay, so what do you think makes you stand out as an artist? I feel like it's certain stuff I say that it just be like it's like How like he a kid how he know like I say certain stuff that people wouldn't know is that I feel like like I saw my head in my town I feel like he I say stuff that is like hold on. He was also Side Good thing because I know a lot more and that's why I move better than a lot of people my age a lot of people my age Not just never say never, but I haven't been locked up before Most of my friends most of people my age all been locked up. I Mean it but you also said like the drum is It's a good and a bad thing Wow being a how do you tell me saying drum? Yeah, yeah, but not in a sense of like in a sense of like You never gonna run out of night cuz like when you've got that that knowledge you just Sing certain thing that it's just I just know a lot But you experience a lot from growing up. Yeah, not even on a not even on a gangster side of things Just like that's always have to be yeah, they don't gotta be about gangster stuff is about everything money everything There's no a lot. Okay, so you from our PC From one on four It was my my dose I was gonna say like it seems like you feel like you have to like put your all in when it comes to music being that It seems like so many people are against like y'all side. Yeah So like you you say you take like ten minutes to make a song so like when do you know like this is the song that she Want to put out this is the song man? I don't know it's just be telling about that soon when I make a song on I Know like when I feel it like I gotta do this video Okay, it's certain songs that you just know that you make you like they could wait for this when I got nothing to Do I'm not planning on I I gotta get a video. I'm gonna do this video and then it's certain So it's like y'all got to get this video done asap. It's something else could have been at the top of the list everything gotta wait That go It could be anything I get upset I go raise something Like not like upset like I have an argument one of my man son. I go raise something That's how I take my mom up. That's that's the escape right there Bucketless Perform at BT Gonna be the biggest artist in the book. What does that look like? Everybody's arguing about this face of the Bronx.  No, I'm the face of the demon. I'm the demon child What does that what does that mean? Like when people think demon child leads really what do you want them to think? It could be something different for everybody. No, what's something like what you want them to think? I Don't know like when they hit demon child, I just I don't know Everybody got a different you you can ask my mom.  No, but if they hit out there be like their first thing anything. Yeah, he was a badass kid You ask some other people answer might be different. So you want to keep that name? Yeah, I don't Get to the point where for me and they feel like that's that's not professional. Of course, I'm gonna change it up Yeah, you feel like you like that's a name that's just sticking for the moment Yeah, but I feel like But that's still like they know something Okay, so who's some people that you want to collab with mainstream Mainstream They're Would I be collabing with I collab with they got collab with me Think about features, though Oh I'm shorty shorty shorty shorty different Yeah, cuz he's different. He don't rap like everyone else his rap style is unique That's why that's type of people. I will collab with people who differ Okay, so like but do you feel like features are important for like it's gonna come when it comes Yeah, it's gonna come when it comes. I'm not gonna pay for that feature Why nobody ever want to pay for features because I feel like I mean with a label that somebody gonna pay you Yeah, but I'm saying like I feel like I'm just work hard Why I gotta pay why I gotta pay What if it's from the label accounts Still I still I want to be able to say I made it and I won without Doing none of that. I want to be able to say I did it mean But you know people paid features like Cardi pays offset for the future, but the label pays Yeah, so it's like it's not your neck technically your bread is the labels The label covers it does that count or I mean when I'm already up Like when I'm already famous and yeah, they could do that cuz I'm already but when I want to make it right now I want to make it by myself. I want to be known cuz of me not cousin. Yo, you know who that is The one who did this song I love So, um, so how do you know when someone's a fan of yours? Yeah They say old-fashioned I had someone come up to me in my face with a ski mask going to go now for G's no G They for me I don't want them to come up to me like that though Yeah, just be cool. I'm a cool person if a fan. I'll never deny a fan a picture nothing Never nothing. I seen a fan out there.  It don't matter.  Yeah, no a lot of rappers all get locked up Yeah, I'm gonna say I think hip-hop police are real thing for some people it could either for some people it could be a good thing Some people could be bad thing because some people could be the good thing for some people they could They could feel like he a star see potential. I'm not gonna mess with him I don't know bro. I think hip-hop police is a real thing The music makes it hard for us to have more shows in the city To book people People unprofessional you think people unprofessional You ought to keep it professional You ever had like a bad experience like what people do Not yet anyone around me know No, it's not even about me being on time and it's that we about to go right here We not gonna I copy gonna act with me over here So all your friends is into all that yeah, they know So what's the favorite part about being artists in the studio or shooting music videos showing the music videos Why everybody say the music videos we really get to like Get to just loosen up go crazy. That's when y'all back out y'all dance move I will say you see everybody doing Would you say y'all started that dance? What dancing? Oh, I don't I start nothing but this right here. I need to do this right here Okay, so you claim that no, I started that okay I'm saying you're claiming it like right now right here the first place you ever seen that was in Delhi Nobody ever did that before Delhi, okay, but I'm saying like I feel like that side of town I feel like y'all always back up so crazy Like so was that is that a thing I feel like y'all just be vibing or just be the energy or I don't Dance and it's like I don't know. Yeah We make it stuff up on spot. It's just we creative was Need to buggy down so true about say so somebody don't got dance moves. They can't be in the bed Now they could be in the bed. You got see that.  No, I don't really I don't really be surprised because it's like I already know we got the attention on us So anything I be for me, of course, you be excited It's not like that happened, but it's never surprising because they just people you don't even know be tapped in I must say where some places that's tapped in that it was like, oh shit. They tapped in I read them sometimes most of the time I just love all of them But if I go like to a certain and find it like I know I like seen some stuff before that old I don't some surprise. But like yo, he One time I got OD hype, but I was I got faked out meet Mills news we posted I Will post everybody That was nothing. I thought it was me Popped up as me I don't want me news supposed to me But what's what's a big accomplishment that happened this year the years come to an what's something that you accomplished this year That was like I did that. I don't know I feel like this year cuz everything I did was this year like everything I accomplished this year. I feel like I Really kicked my way in the door Like no one else came in like me. I got I kicked my way in the door I didn't pay for no followers. I didn't pay for no views. I never did none of that Like what's a big accomplishment or just all that stuff all of it everything That's coming And what should I must say your son's gonna be getting leaked no, okay on all that I don't send my songs to know But something like certain songs done got leaked before it's like every you a song always gonna get leaked somehow I don't think that mainstream artist because it's songs. It's like How how you got that How you got that I just be confused But then you see you having a tough you hold it now Yeah, nobody gets the new stuff But for me the people who need to know it like if I'm about to do a video cuz that's something I learned too Your song game leak could be a good thing because if you got a fire fire song get that's what made um This song fire this not fire But this song everybody was feeling for it cuz they leaked it to be honest They leaked that and everybody wanted to wanted to hear it I just feel like cuz they leaked it Okay, that's highly anticipated game fans highly anticipated They think that's a good promotion strategy or you rather just no I don't want it to happen, but I feel like it's not too bad. It's not a problem Like yes, I'm getting leaked you shouldn't be so angry I'm not okay, but I feel like you shouldn't be so angry because it could be it could be a good thing You never know they leak it and everybody waiting for it Not cuz look, you know, that's what makes I feel like fans we put in all that stuff together like deli Deli deli got leaked When we did the video to deli Every everyone I was there knew it.   Yeah, of course. We like yo Violin but it's like for you to even think about it It's just gonna be like you never gonna find out you never even gonna narrow it to three people I'm I think it can fly like Everybody's in a different way But what should we look forward to I'm literally what should the people be seeing You know top of the yamma drop sign if y'all see our drop sign almost every holiday Like every holiday No, I didn't drop nothing given I didn't drop I dropped on a Halloween Yeah, I mean But yeah, I could drop saying any day with the demon child cuz that's not a costume Yeah Halloween, you know, but Yeah, next year Look forward to every type of song I'm making every type of song except like no, I can't sing. I'ma try it though I'ma try. I'ma try everything. I look forward to a lot. They're gonna have a lot of different music for me And it collapse Of course Ew, that's always gonna be my partner in crime Be a dynamic. Yeah, that's always on him right there Anytime it don't me and always gonna make music. Yeah, even when I type on Instagram I'm no longer make a music with people that don't come from It may have always No, not even at certain times I don't want to make music with nobody I just want to make music by myself. I feel like I Don't know. I just be on my own type of time and I know what flow I want to do in this beat That's why I'm ready to do features cuz it's like I Didn't agree to do a song with someone and then me on the beat by myself Went now like my verse was just crazy so I I feel like I Can't afford for no one to mess this up Do the whole thing by myself One of your man's just starting to rap My man's my man's already started rapping Not even I like so you think not why you think How you do that? There's a lot of people rapping deep thing when I started rapping deep thinking I was rapping I never asked deep thing for a feature. Okay, but you got you think they got a hustle People think it's okay to do a song they means to help them Yeah, but then again, why would you if I want if I'm gonna do a song with you then let it be like that Why would you ask me? Cuz now I know what you're trying to do. Okay, so if I got some clout chasing it. Yeah But luckily I don't got man's like that. No one around me. We don't ask each other for soon They just come up Yeah, no handouts. That's cool Album Yeah, definitely like a EP Title yet or not yet Dmichile I'm gonna call it that of course. Okay All right, tell the people what I find you with a foggy music For me on YouTube Dmichile, you know Instagram legially underscore I don't really use Facebook Yeah, that's crazy. I don't use Facebook That's pretty YouTube Instagram. You can find me there. Um Tick tock Not a half everything Yeah, well, that's mine. Oh anybody see anyone do that. No, I started that Nobody could come up here and did not add nobody could go on Instagram and did not add when y'all posted sugar I made that by myself with this brain right here Nobody did that. That's me. Nobody Nobody Yeah, I'm sure the people ought to do you guess that I show them how to study up with it. No, you know me I'm super sturdy. I know y'all seen this PSA. I see getting crazy, you know


Electronic circuit. An electronic circuit is composed of individual electronic components, such as resistors, transistors, capacitors, inductors and piods, connected by conductive wires or traces through which electric current can flow. To be referred to as electronic, rather than electrical, generally at least one active component must be present. The combination of components and wires allows various simple and complex operations to be performed, signals can be amplified, computations can be performed, and data can be moved from one place to another. Circuits can be constructed of discrete components connected by individual pieces of wire, but today it is much more common to create interconnections by photolithographic techniques on a laminated substrate the printed circuit board or PCB and soldered the components to these interconnections to create a finished circuit. In an integrated circuit or IC, the components and interconnections are formed on the same substrate, typically as a male conductor such as silicon or less commonly gallium bar snide. An electronic circuit can usually be categorized as an analog circuit, a digital circuit, or a mixed signal circuit a combination of analog circuits and digital circuits. Breadboards, perf boards, and strip boards are common for testing new designs. They allow the designer to make quick changes to the circuit during development.