Annual report pursuant to Section 13 and 15(d)

Property and Equipment and Intangible Assets (Tables)

v3.20.1
Property and Equipment and Intangible Assets (Tables)
12 Months Ended
Dec. 31, 2019
Property And Equipment And Intangible Assets Tables Abstract  
Schedule of Components of Property, Equipment and Intangible Assets

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

 

    Useful life (Years)     December 31, 2019     December 31, 2018  
Website     7     $ 121,787     $ 121,787  
Mining equipment     2       7,120,505       3,029,031  
Mining patent     17       1,210,000       1,210,000  
Gross property, equipment and intangible assets             8,452,292       4,360,818  
Less: Accumulated depreciation and amortization             (3,623,745 )     (2,181,488 )
Property, equipment and intangible assets, net           $ 4,828,547     $ 2,179,330  

Schedule of Finte Lived Intangible Asset

As of December 31, 2019, intangible assets amortization are as follows:

 

2020   $ 71,176  
2021     71,176  
2022     71,176  
2023     71,176  
2024     71,176  
Thereafter     717,698  
Total   $ 1,073,578