Quarterly report pursuant to Section 13 or 15(d)

Summary of Significant Accounting Policies (Tables)

v3.19.1
Summary of Significant Accounting Policies (Tables)
3 Months Ended
Mar. 31, 2019
Accounting Policies [Abstract]  
Schedule of Change in Fair Value of Assets Measured Level 1

The following table presents the activities of the digital currencies for the three months ended March 31, 2019:

 

Digital currencies at December 31, 2018   $ -  
Additions of digital currencies     230,694  
Realized loss on sale of digital currencies     (608 )
Sale of digital currencies     (224,449 )
Digital Currencies at March 31, 2019   $ 5,637  

Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis

The following tables present information about the Company’s assets and liabilities measured at fair value on a recurring basis and the Company’s estimated level within the fair value hierarchy of those assets and liabilities as of March 31, 2019 and December 31, 2018, respectively:

 

    Fair value measured at March 31, 2019  
   

Total carrying

value at

   

Quoted prices in

active markets

   

Significant other

observable inputs

   

Significant

unobservable inputs

 
    March 31, 2019     (Level 1)     (Level 2)     (Level 3)  
Liabilities                                
Warrant liability   $ 76,817     $ -     $ -     $ 76,817  

 

    Fair value measured at December 31, 2018  
   

Total carrying

value at

   

Quoted prices in

active markets

   

Significant other

observable inputs

   

Significant

unobservable inputs

 
    December 31, 2018     (Level 1)     (Level 2)     (Level 3)  
Liabilities                                
Warrant liability   $ 39,083     $ -     $ -     $ 39,083  

Schedule of Fair Value of Warrant Liabilities

FV of warrant liabilities

 

    Fair value  
Outstanding as of December 31, 2018   $ 39,083  
Change in fair value of warrants     37,734  
Outstanding as of March 31, 2019   $ 76,817  

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

Securities that could potentially dilute loss per share in the future that were not included in the computation of diluted loss per share at March 31, 2019 and 2018 are as follows:

 

    As of March 31,  
    2019     2018  
Warrants to purchase common stock     182,191       182,191  
Options to purchase common stock     1,466,520       112,193  
Preferred stock to exchange common stock     -       485,540  
Convertible notes to exchange common stock     312,221       612,221  
Total     1,960,932       1,392,145  

Schedule of Computation of Basic and Diluted Loss Per Share

The following table sets forth the computation of basic and diluted loss per share:

 

   

For the three months ended

March 31,

 
    2019     2018  
Net loss attributable to common shareholders   $ (1,044,862 )   $ (2,402,820 )
                 
Denominator:                
Weighted average common shares - basic and diluted     6,338,418       3,805,684  
                 
Loss per common share - basic and diluted   $ (0.16 )   $ (0.63 )