Thanks. Is that spread sheet available? I figured the money had to be spent but the google doc has zero usd expenditures and all BTC, PTS and BTSX liquidations are marked as the dollar value unspent.
You can see it on the third tab of the same spreadsheet link you have been referencing.
So far, the BTS wallet doesn't give us very good tools for dumping out a self-documenting ledger.
Generally, I agree, the spreadsheets are nearly incomprehensible, even to me six months later. They capture each transfer event, but not very clearly.
We are working with Grant Thornton, an international accounting firm, to figure out how to document this for the governments who will need to review it. Rather than make an attempt myself to clean this up, I plan to publish the backup documents we will have prepared by then for the inevitable auditors.
Meanwhile, to answer your main question, when a line says "sold, not spent" that means that I have transferred that amount to some exchange (BTER, BTC38, Cryptsy, BitStamp) to convert into another currency (BTS, PTS, BTC, USD) and it has not actually been spent at that point
. Anything that gets converted to USD is usually wired to our corporate account at Wells Fargo where it is used to pay bills and payroll. Then it has been spent - usually within 30 to 60 days.
These events are documented inside traditional accounting software (QuickBooks) which we then use for preparing tax statements. That's why you don't see them on Google Docs.
Also, as BM disclosed back in August, there was a brief period when we converted about 600 BTC to BTS for diversification reasons. There have been other times when we bought and sold small amounts for various purposes.