XML 11 R4.htm IDEA: XBRL DOCUMENT v3.8.0.1
Condensed Consolidated Statement of Operations (Unaudited) - USD ($)
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Dec. 31, 2016
Dec. 31, 2015
Revenues            
E-commerce $ 941 $ 96 $ 4,480 $ 2,338 $ 1,640 $ 6,300
Transaction verification services 15,553 326,176 325,627 499,890
Hosting 27,945 27,945
Total revenues 941 15,649 4,480 356,459 355,212 506,190
Power and mining expenses (35,050) (263,869) (263,869) (290,099)
Gross profit 941 (19,401) 4,480 92,590 91,343 216,091
Operating expenses (income):            
Marketing 3,617 1,045 3,757 10,492 10,693 14,829
General and administrative 211,464 192,900 605,872 969,101 1,126,977 8,097,322
Fair value adjustments for digital currencies (2,671) 488 (2,671) (8,665) (8,665) 3,442
Impairment loss on fixed assets 240,853 236,585
Depreciation and amortization 1,044 181,134 182,037 298,797
Total operating expenses 212,410 194,433 606,958 1,211,781 1,547,627 8,414,390
Net loss from operations (211,469) (213,834) (602,478) (1,119,191) (1,456,284) (8,198,299)
Other (expenses) income:            
Impairment loss related to investment (2,250,000) (2,250,000) (254,433)
Fair value adjustments for warrant liabilities (8,651,295) 1,038,588 (40,338,368) (8,183,196) (25,266,593) 482,666
Fair value adjustments for convertible notes (2,909,236) (16,849,071) (3,245,896) 2,096,700 (3,748)
Fair value adjustments for derivative liability shortfall of shares 7,078,042 (7,401,321) (14,915,419)
Inducement expense (58,380)
Interest expenses (604) (6,784) (7,420) (11,871)
Loss on issuance of convertible preferred C stock (2,809,497)    
Loss on issuance of Units (250,000) (250,000) (1,050,911)
Gain (loss) on extinguishment of debt (346,865) 15,866,197 (2,859,338) 837,369
Loss on settlement of derivative liability (2,136,971)    
Loss from lease termination (177,389)
Liquidated damages (1,433,250) (693,000) (1,621,750) (3,102,750)
Loss on issuance of convertible notes and warrants (952,060)
Other income (expenses) 39,989 24,100 39,989 (8,500) 49,121
Total other (expenses) income (10,748,277) 3,450,775 (44,961,139) (25,826,785) (42,808,992) (1,848,737)
Net (loss) income $ (10,959,746) $ 3,236,941 $ (45,563,617) $ (26,945,976) $ (44,265,276) $ (10,047,036)
Net loss (income) per share, basic and diluted            
Basic $ (0.09) $ 0.23 $ (0.64) $ (4.01)
Diluted (0.09) 0.01 (0.64) (4.01)
Net loss per share, basic and diluted $ (4.89) $ (4.89)
Weighted average number of shares outstanding, basic and diluted            
Basic 126,622,659 14,287,998 71,233,096 6,721,632
Diluted 126,622,659 275,282,579 71,233,096 6,721,632
Basic and diluted 9,058,785 2,777,608