Quarterly report pursuant to Section 13 or 15(d)

Summary of Significant Accounting Policies (Tables)

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

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

 

Digital currencies at December 31, 2019   $ 1,141  
Additions of digital currencies     1,713,832  
Realized gain on sale of digital currencies     15,466  
Sale of digital currencies     (1,278,550 )
Digital currencies at September 30, 2020   $ 451,889  
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 September 30, 2020 and December 31, 2019, respectively :

 

    Fair value measured at September 30, 2020  
    Total carrying value at September 30,     Quoted prices in active markets     Significant other observable inputs     Significant unobservable inputs  
    2020     (Level 1)     (Level 2)     (Level 3)  
Liabilities                        
Warrant liability   $ 31,500     $ -     $ -     $ 31,500  
                                 

 

    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  
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     18,651  
Outstanding as of September 30, 2020   $ 31,500  
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 September 30, 2020 and 2019 are as follows   :

 

    As of September 30,  
    2020     2019  
Warrants to purchase common stock     696,167       182,191  
Options to purchase common stock     140,182       1,733,620  
Convertible notes to exchange common stock     -       312,221  
Total     836,349       2,228,032  
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 September 30,     For the Nine Months Ended September 30,  
    2020     2019     2020     2019  
Net loss attributable to common shareholders   $ (1,994,417 )   $ (754,407 )   $ (5,213,544 )   $ (2,365,149 )
                                 
Denominator:                                
Weighted average common shares - basic and diluted     31,520,736       6,372,061       18,868,967       6,353,643  
                                 
Loss per common share - basic and diluted   $ (0.06 )   $ (0.12 )   $ (0.28 )   $ (0.37 )