v3.19.2

ACQUISITION NORTHWAY MINING,LLC | 12 Months Ended
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Dec. 31, 2018
Business Combinations [Abstract] |
ACQUISITION NORTHWAY MINING, LLC | NOTE 9: ACQUISITION NORTHWAY MINING,LLC On August 1, 2018, the Company entered into an acquisition agreement (the “Acquisition Agreement”) to acquire the majority ownership interest of Northway Mining, LLC (“Northway”), a New York limited liability company, located at 707 Flats Road, Athens, New York. Northway is a cryptomining data center hosting third-party owned and operated cryptomining machines within its 5000 square feet facility. It currently is hosting few hundred machines in its facilities at 2 Flint Mine under individual service agreements with third-party machine owners. List of assets acquired and assigned value:
DATES |  | DESCRIPTION |  | TOTAL ACQ COST |  | NET VALUE
ACQUISITION |  | SERVICE |  |  |  |
| 07/31/18 |  |  |  | 07/31/18 |  |  | Pods |  | $ | 22,003 |  |  | $ | 22,003 |
| 07/31/18 |  |  |  | 07/31/18 |  |  | Real Estate 707 Flats Rd. - Land |  |  | 50,588 |  |  |  | 50,588 |
| 07/31/18 |  |  |  | 07/31/18 |  |  | Real Estate 707 Flats Rd. - Land |  |  | 84,313 |  |  |  | 84,313 |
| 07/31/18 |  |  |  | 07/31/18 |  |  | Improvements |  |  | 79,650 |  |  |  | 79,650 |
| 07/09/18 |  |  |  | 07/31/18 |  |  | Office Equipments & Furnitures |  |  | 283 |  |  |  | 283 |
| 07/24/18 |  |  |  | 07/31/18 |  |  | Vehicles |  |  | 62,935 |  |  |  | 62,935 |
| TOTAL: |  |  |  |  |  |  |  |  |  | 299,770 |  |  |  | 299,770 |
Pursuant to the Acquisition Agreement the Company acquired fifty-five percent (55%) of the ownership units of Northway in return for an investment of $1,100,000 (U.S.) for the purposes of providing working capital and funds to Northway for improvements to, and expansion of, its facilities, and the purchase of 30-acres of flat land and buildings at its Athens, New York address owned by a third party per that separate “Agreement for Purchase of Property between Northway Mining, LLC and CSX4236 Motorcycle Salvage LLC” (the “Land Purchase Agreement”). (The “Acquisition”) Under the terms and conditions of the Acquisition, Northway has amended and restated its New York State limited liability company Operating Agreement under which it is stated that it will maintain its current management.

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- Definition The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -URI http://asc.fasb.org/topic&trid=2303972 + Details
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