Quarterly report pursuant to Section 13 or 15(d)

Summary of Significant Accounting Policies (Tables)

v3.19.2
Summary of Significant Accounting Policies (Tables)
6 Months Ended
Jun. 30, 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 six months ended June 30, 2019:

 

Digital currencies at December 31, 2018   $ -  
Additions of digital currencies     586,459  
Realized gain on sale of digital currencies     24,444  
Sale of digital currencies     (606,363 )
Digital Currencies at June 30, 2019   $ 4,540  
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 June 30, 2019 and December 31, 2018, respectively:

 

    Fair value measured at June 30, 2019  
    Total carrying value at
June 30,
    Quoted prices in active markets     Significant other observable inputs     Significant unobservable inputs  
    2019     (Level 1)     (Level 2)     (Level 3)  
Liabilities                        
Warrant liability   $ 115,387     $     -     $   -     $ 115,387  

 

    Fair value measured at December 31, 2018  
    Total carrying value at December 31,     Quoted prices in active markets     Significant other observable inputs     Significant unobservable inputs  
    2018     (Level 1)     (Level 2)     (Level 3)  
Liabilities                        
Warrant liability   $ 39,083     $     -     $    -     $ 39,083  
Schedule of Fair Value of Warrant Liabilities

Fair value of warrant liabilities

 

    Fair value  
Outstanding as of December 31, 2018   $ 39,083  
Change in fair value of warrants     76,304  
Outstanding as of June 30, 2019   $ 115,387  

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 June 30, 2019 and 2018 are as follows:

 

    As of June 30,  
    2019     2018  
Warrants to purchase common stock     182,191       182,191  
Options to purchase common stock     1,466,520       105,462  
Preferred stock to exchange common stock     -       485,540  
Convertible notes to exchange common stock     312,221       312,221  
Total     1,960,932       1,085,414
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
June 30,
    For the six months ended
June 30,
 
    2019     2018     2019     2018  
Net loss attributable to common shareholders   $ (565,880 )   $ (4,676,645 )   $ (1,610,742 )   $ (7,079,465 )
                                 
Denominator:                                
Weighted average common shares - basic and diluted     6,350,080       5,009,297       6,344,281       4,410,816  
                                 
Loss per common share - basic and diluted   $ (0.09 )   $ (0.93 )   $ (0.25 )   $ (1.61