XML 16 R6.htm IDEA: XBRL DOCUMENT v3.23.2
Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Net Cash flows used from operating activities:    
Net loss $ (2,431,822) $ (13,465,416)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation expense 2,318 1,727
Stock-based compensation 789,453 1,782,802
Validator revenue (697,261) (1,077,364)
Blockchain network fees (non-cash) 1,321
Change in fair value of warrant liabilities 142,500 (1,068,750)
Sale of non-productive crypto assets/currencies 2,547,322
Realized gain on crypto assets/currencies transactions (748,030) (469,556)
Impairment loss on crypto assets/currencies 879,509 12,202,225
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (51,668) 63,376
Accounts payable and accrued expenses 111,417 565
Accrued compensation (41,940) 132,853
Net cash used in operating activities (2,045,524) 651,105
Net cash used in investing activities:    
Purchase of productive crypto assets/currencies for validating (1,804,213) (9,141,785)
Sale of productive crypto assets/currencies 1,719,871 310,149
Purchase of investments
Purchase of property and equipment (2,558)
Net cash used in investing activities (84,342) (8,834,194)
Net cash provided by financing activities:    
Dividend distributions (630,801)
Net proceeds from issuance common stock/ At-the-market offering 926,501 10,604,441
Net cash provided by financing activities 926,501 9,973,640
Net increase in cash (1,203,365) 1,790,551
Cash, beginning of period 2,146,783 1,400,867
Cash, end of period 943,418 3,191,418
Supplemental disclosure of non-cash financing and investing activities:    
Series V Preferred Stock Distribution $ 2,559,533