Quarterly report pursuant to Section 13 or 15(d)

Digital Asset Mining

v3.19.2
Digital Asset Mining
6 Months Ended
Jun. 30, 2019
Digital Asset Mining  
Digital Asset Mining

NOTE 3 – DIGITIAL ASSET MINING

 

The components of property, equipment and intangible assets as of June 30, 2019 and December 31, 2018 are:

 

    Useful life (Years)     June 30, 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             (2,491,798 )     (2,181,488 )
Property, equipment and intangible assets, net           $ 1,869,020     $ 2,179,330  

 

The Company’s depreciation expense for the three and six months ended June 30, 2019 were $137,361 and $274,722, and $574,592 and $806,598 for the three and six months ended June 30, 2018, respectively. Amortization expense were $17,794 and $35,588 for the three and six months ended June 30, 2019, and $17,794 and $29,914 for the three and six months ended June 30, 2018, respectively.