Quarterly report pursuant to Section 13 or 15(d)

Consolidated Condensed Balance Sheets

v3.19.3
Consolidated Condensed Balance Sheets - USD ($)
Sep. 30, 2019
Dec. 31, 2018
Current assets:    
Cash and cash equivalents $ 1,342,985 $ 2,551,171
Digital currencies 2,881
Prepaid expenses and other current assets 209,935 464,006
Total current assets 1,555,801 3,015,177
Other assets:    
Property and equipment, net of accumulated depreciation and impairment charges of $4,751,014 and $4,338,931 for September 30, 2019 and December 31, 2018, respectively 4,713,966 1,034,575
Right-of-use assets 318,881
Intangible assets, net of accumulated amortization of $118,627 and $65,245 for September 30, 2019 and December 31, 2018, respectively 1,091,373 1,144,755
Total other assets 6,124,220 2,179,330
TOTAL ASSETS 7,680,021 5,194,507
Current liabilities:    
Accounts payable and accrued expenses 1,071,621 1,235,444
Mining servers payable 1,852,477
Current portion of lease liability 85,689
Warrant liability 46,836 39,083
Convertible notes payable 999,106 999,106
Total current liabilities 4,055,729 2,273,633
Long-term liabilities    
Lease liability 134,947
Total long-term liabilities 134,947
Total liabilities 4,190,676 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 September 30, 2019 and December 31, 2018, respectively
Common stock, $0.0001 par value; 200,000,000 shares authorized; 7,703,461 and 6,379,992 issued and outstanding at September 30, 2019 and December 31, 2018, respectively 771 638
Additional paid-in capital 108,394,883 105,461,396
Accumulated other comprehensive loss (450,719) (450,719)
Accumulated deficit (104,455,590) (102,090,441)
Total stockholders' equity 3,489,345 2,920,874
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 7,680,021 $ 5,194,507