Quarterly report pursuant to Section 13 or 15(d)

Digital Asset Mining

v3.19.1
Digital Asset Mining
 3 Months Ended
Mar. 31, 2019
Digital Asset Mining  
Digital Asset Mining

NOTE 3 – DIGITIAL ASSET MINING

 

The components of property, equipment and intangible assets as of March 31, 2019 and December 31, 2018 are:

 

    Useful life (Years)     March 31, 2019     December 31, 2018  
Website     7     $ 121,787     $ 121,787  
Mining equipment     2       3,029,031       3,029,031  
Mining patent     17       1,210,000       1,210,000  
Gross property, equipment and intangible assets             4,360,818       4,360,818  
Less: Accumulated depreciation and amortization             (2,336,643 )     (2,181,488 )
Property, equipment and intangible assets, net           $ 2,024,175     $ 2,179,330  

 

The Company’s depreciation expense for the three months ended March 31, 2019 and 2018 were $137,361 and $232,006, and amortization expense were $17,794 and $12,120 for the three months ended March 31, 2019 and 2018, respectively.