Quarterly report pursuant to Section 13 or 15(d)

Summary of Significant Accounting Policies (Tables)

v3.20.2
Summary of Significant Accounting Policies (Tables)
6 Months Ended
Jun. 30, 2020
Accounting Policies [Abstract]  
Schedule of Activities of Digital Currencies

The following table presents the activities of the digital currencies for the six months ended June 30, 2020:

 

Digital currencies at December 31, 2019   $ 1,141  
Additions of digital currencies     878,648  
Realized gain on sale of digital currencies     4,260  
Sale of digital currencies     (775,349 )
Digital currencies at June 30, 2020   $ 108,700  
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, 2020 and December 31, 2019, respectively:

 

    Fair value measured at December 31, 2019  
    Total carrying value at December 31,     Quoted prices in active markets     Significant other observable inputs     Significant unobservable inputs  
    2019     (Level 1)     (Level 2)     (Level 3)  
Liabilities                        
Warrant liability   $ 12,849     $    -     $ -     $ 12,849  
                                 

 

    Fair value measured at June 30, 2020  
   

Total carrying value at

June 30,

    Quoted prices in active markets     Significant other observable inputs     Significant unobservable inputs  
    2020     (Level 1)     (Level 2)     (Level 3)  
Liabilities                        
Warrant liability   $ 9,625     $     -     $ -     $ 9,625  
Schedule of Fair Value of Warrant Liabilities

Fair value of warrant liabilities

 

    Fair value  
Outstanding as of December 31, 2019   $ 12,849  
Change in fair value of warrants     (3,224 )
Outstanding as of June 30, 2020   $ 9,625  
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, 2020 and 2019 are as follows:

 

    As of June 30,  
    2020     2019  
Warrants to purchase common stock     164,222       182,191  
Options to purchase common stock     140,182       1,466,520  
Convertible notes to exchange common stock     -       312,221  
Total     304,404       1,960,932  
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,  
    2020     2019     2020     2019  
Net loss attributable to common shareholders   $ (2,161,196 )   $ (565,880 )   $ (3,219,127 )   $ (1,610,742 )
                                 
Denominator:                                
Weighted average common shares - basic and diluted     16,291,610       6,350,080       12,473,568       6,344,281  
                                 
Loss per common share - basic and diluted   $ (0.13 )   $ (0.09 )   $ (0.26 )   $ (0.25 )