Quarterly report pursuant to Section 13 or 15(d)

Consolidated Condensed Statements of Operations (Unaudited)

v3.20.2
Consolidated Condensed Statements of Operations (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Revenues        
Total revenues $ 286,161 $ 355,765 $ 878,648 $ 586,459
Operating costs and expenses        
Cost of revenue 740,483 498,588 1,893,724 1,007,228
Compensation and related taxes 1,060,480 328,604 1,294,137 815,291
Consulting fees 24,313 30,000 66,125 50,000
Professional fees 162,552 110,341 309,194 195,374
General and administrative 89,566 128,829 198,503 244,072
Total operating expenses 2,077,394 1,096,362 3,761,683 2,311,965
Operating loss (1,791,233) (740,597) (2,883,035) (1,725,506)
Other income (expenses)        
Other income 190,332 106,408 180,895
Foreign exchange loss (11,873)
Loss on conversion of note (364,832) (364,832)
Realized gain on sale of digital currencies 8,482 25,052 4,260 24,444
Change in fair value of warrant liability (6,563) (38,570) 3,224 (76,304)
Change in fair value of mining payable (66,547)
Interest income 499 10,358 2,379 22,374
Interest expense (7,549) (12,455) (20,984) (24,772)
Total other (expenses) income (369,963) 174,717 (336,092) 114,764
Loss before income taxes (2,161,196) (565,880) (3,219,127) (1,610,742)
Income tax expense
Net loss $ (2,161,196) $ (565,880) $ (3,219,127) $ (1,610,742)
Net loss per share, basic and diluted: $ (0.13) $ (0.09) $ (0.26) $ (0.25)
Weighted average shares outstanding, basic and diluted: 16,291,610 6,350,080 12,473,568 6,344,281
Cryptocurrency Mining Revenue [Member]        
Revenues        
Total revenues $ 286,161 $ 355,765 $ 878,648 $ 586,459