Quarterly report pursuant to Section 13 or 15(d)

Consolidated Condensed Balance Sheets

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Consolidated Condensed Balance Sheets - USD ($)
Jun. 30, 2020
Dec. 31, 2019
Current assets:    
Cash and cash equivalents $ 775,119 $ 692,963
Digital currencies 108,700 1,141
Deposit 4,195,200
Prepaid expenses and other current assets 741,138 800,024
Total current assets 5,820,157 1,494,128
Other assets:    
Property and equipment, net of accumulated depreciation and impairment charges of 6,720,281 and 6,157,786 for June 30, 2020 and December 31, 2019, respectively 3,613,529 3,754,969
Right-of-use assets 245,170 297,287
Intangible assets, net of accumulated amortization of 172,010 and 136,422 for June 30, 2020 and December 31, 2019, respectively 1,037,990 1,073,578
Total other assets 4,896,689 5,125,834
TOTAL ASSETS 10,716,846 6,619,962
Current liabilities:    
Accounts payable and accrued expenses 831,784 1,238,197
Mining servers payable 513,700
Current portion of lease liability 87,447 87,959
Warrant liability 9,625 12,849
Total current liabilities 928,856 1,852,705
Long-term liabilities    
Convertible notes payable 999,106
Note payable 62,500
Lease liability 67,255 120,479
Total long-term liabilities 129,755 1,119,585
Total liabilities 1,058,611 2,972,290
Commitments and Contingencies
Stockholders' Equity:    
Preferred stock, 0.0001 par value, 50,000,000 shares authorized, no shares issued and outstanding at June 30, 2020 and December 31, 2019, respectively
Common stock, 0.0001 par value; 200,000,000 shares authorized; 24,526,302 and 8,458,781 issued and outstanding at June 30, 2020 and December 31, 2019, respectively 2,453 846
Additional paid-in capital 118,933,134 109,705,051
Accumulated other comprehensive loss (450,719) (450,719)
Accumulated deficit (108,826,633) (105,607,506)
Total stockholders' equity 9,658,235 3,647,672
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 10,716,846 $ 6,619,962