Quarterly report pursuant to Section 13 or 15(d)

Consolidated Condensed Balance Sheets

v3.8.0.1
Consolidated Condensed Balance Sheets - USD ($)
Mar. 31, 2018
Dec. 31, 2017
Current assets:    
Cash $ 5,367,963 $ 14,948,529
Digital currencies 68,044
Accounts receivable - net of allowance for bad debt of $394,802 and $387,976 for March 31, 2018 and December 31, 2017, respectively 6,826
Prepaid expenses and other current assets 184,038 92,855
Total current assets 5,620,045 15,048,210
Other assets:    
Property and equipment, net of accumulated depreciation of $366,777 and $134,513 for March 31, 2018 and December 31, 2017, respectively 5,578,377 10,011
Intangible assets, net of accumulated amortization of $11,863 for March 31, 2018 1,198,137
Total other assets 6,776,514 10,011
TOTAL ASSETS 12,396,559 15,058,221
Current liabilities:    
Accounts payable and accrued expenses 2,071,142 1,961,784
Litigation liability 2,150,000
Warrant liability 285,348 1,794,396
Notes payable, net of discounts of $345,256 and $2,290,028 for March 31, 2018 and December 31, 2017, respectively 1,613,849 1,763,920
Total current liabilities 3,970,339 7,670,100
Total liabilities 3,970,339 7,670,100
Commitments and Contingencies
Stockholders' Equity:    
Preferred stock, $0.0001 par value, 50,000,000 shares authorized, 1,943 and 5,513 issued and outstanding at March 31, 2018 and December 31, 2017, respectively 1
Common stock, $0.0001 par value; 200,000,000 shares authorized; 19,327,940 and 12,477,781 issued and outstanding at March 31, 2018 and December 31, 2017, respectively 1,933 1,248
Additional paid-in capital 100,553,943 97,113,723
Accumulated other comprehensive loss (450,719) (450,734)
Accumulated deficit (91,678,937) (89,276,117)
Total stockholders' equity 8,426,220 7,388,121
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 12,396,559 $ 15,058,221