Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.20.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2019
Dec. 31, 2018
Current assets:    
Cash and cash equivalents $ 692,963 $ 2,551,171
Digital currencies 1,141
Prepaid expenses and other current assets 800,024 464,006
Total current assets 1,494,128 3,015,177
Other assets:    
Property and equipment, net of accumulated depreciation and impairment charges of $6,157,786 and $4,338,931 for December 31, 2019 and 2018, respectively 3,754,969 1,034,575
Right-of-use assets 297,287
Intangible assets, net of accumulated amortization of $136,422 and $65,245 for December 31, 2019 and 2018, respectively 1,073,578 1,144,755
Total other assets 5,125,834 2,179,330
TOTAL ASSETS 6,619,962 5,194,507
Current liabilities:    
Accounts payable and accrued expenses 1,238,197 1,235,444
Mining servers payable 513,700
Current portion of lease liability 87,959
Warrant liability 12,849 39,083
Convertible notes payable 999,106
Total current liabilities 1,852,705 2,273,633
Long-term liabilities    
Convertible notes payable 999,106
Lease liability 120,479
Total long-term liabilities 1,119,585
Total liabilities 2,972,290 2,273,633
Commitments and Contingencies
Stockholders' Equity:    
Preferred stock, $0.0001 par value, 50,000,000 shares authorized, no shares issued and outstanding at December 31, 2019 and 2018, respectively
Common stock, $0.0001 par value; 200,000,000 shares authorized; 8,458,781 and 6,379,992 issued and outstanding at December 31, 2019 and 2018, respectively 846 638
Additional paid-in capital 109,705,051 105,461,396
Accumulated other comprehensive loss (450,719) (450,719)
Accumulated deficit (105,607,506) (102,090,441)
Total stockholders' equity 3,647,672 2,920,874
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 6,619,962 $ 5,194,507