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v3.25.1

Segments | 3 Months Ended
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Mar. 31, 2025
Segments [Abstract] |
SEGMENTS | NOTE 15 – SEGMENTS The Company applies ASC 280, Segment Reporting, in determining its reportable segments. The Company has two reportable segments: Bitcoin Mining and Fintech Services. The guidance requires that segment disclosures present the measure(s) used by the Chief Operating Decision Maker (“CODM”) to decide how to allocate resources and for purposes of assessing such segments’ performance. The Company’s CODM is comprised of several members of its executive management team who use revenue and expenses of our two reporting segments to assess the performance of the business of our reportable operating segments. The following tables detail revenue, operating expenses, and assets, liabilities and equity for the Company’s reportable segments as of and for the three months ended March 31, 2025.
|  | Fintech Segment |  |  | Bitcoin Mining Segment |  |  | Consolidated Total |
ASSETS |  |  |  |  |  |  |  |  |  |  |  |
Current Assets: |  |  |  |  |  |  |  |  |  |  |  |
Cash |  | $ | 29,218 |  |  | $ | 122 |  |  | $ | 29,340 |
Accounts receivable, net |  |  | 127,688 |  |  |  | — |  |  |  | 127,688 |
Prepaid expenses |  |  | 4,910 |  |  |  | — |  |  |  | 4,910 |
Other receivables |  |  | 278,446 |  |  |  | 398,983 |  |  |  | 677,429 |
Other current assets |  |  | — |  |  |  | 2,269 |  |  |  | 2,269 |
Total Current Assets |  |  | 440,262 |  |  |  | 401,374 |  |  |  | 841,636 |
Other Assets: |  |  |  |  |  |  |  |  |  |  |  |
Property and equipment, net |  |  | — |  |  |  | 2,995,690 |  |  |  | 2,995,690 |
Goodwill |  |  | 8,139,889 |  |  |  | — |  |  |  | 8,139,889 |
Operating lease right-of-use assets |  |  | 139,795 |  |  |  | — |  |  |  | 139,795 |
Other long-term assets |  |  | 387,181 |  |  |  | — |  |  |  | 387,181 |
Total Other Assets |  |  | 8,666,865 |  |  |  | 2,995,690 |  |  |  | 11,662,555 |
TOTAL ASSETS |  | $ | 9,107,127 |  |  | $ | 3,397,064 |  |  | $ | 12,504,191 |
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |  |  |  |  |  |
Current Liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Cash overdraft |  | $ | 60,421 |  |  | $ |  |  |  | $ | 60,421 |
Accounts payable |  |  | 3,941,629 |  |  |  | 589,862 |  |  |  | 4,531,491 |
Accrued expenses |  |  | 1,333,226 |  |  |  | — |  |  |  | 1,333,226 |
Preferred dividend payable (related party) |  |  | 574,139 |  |  |  | — |  |  |  | 574,139 |
Merchant portfolio purchase installment obligation |  |  | 2,000,000 |  |  |  | — |  |  |  | 2,000,000 |
Related party payable |  |  | 1,151,960 |  |  |  | 32,000 |  |  |  | 1,183,960 |
Accrued interest - related party |  |  | 225,319 |  |  |  | — |  |  |  | 225,319 |
Operating lease liability – current portion |  |  | 46,491 |  |  |  | — |  |  |  | 46,491 |
Note payable – current portion |  |  | 164,101 |  |  |  | — |  |  |  | 164,101 |
Due to/from intercompany |  |  | (22,969,695 | ) |  |  | 22,969,695 |  |  |  | — |
Total Current Liabilities |  |  | (13,472,409 | ) |  |  | 23,591,557 |  |  |  | 10,119,148 |
Long Term Liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Operating lease liability – net of current portion |  |  | 93,869 |  |  |  | — |  |  |  | 93,869 |
Total Liabilities |  |  | (13,378,540 | ) |  |  | 23,591,557 |  |  |  | 10,213,017 |
Stockholders’ Equity: |  |  |  |  |  |  |  |  |  |  |  |
Series A Preferred stock |  |  | 10 |  |  |  | — |  |  |  | 10 |
Common stock |  |  | 237 |  |  |  | — |  |  |  | 237 |
Treasury stock |  |  | (109,988 | ) |  |  | — |  |  |  | (109,988 | )
Additional paid-in capital |  |  | 71,289,720 |  |  |  | — |  |  |  | 71,289,720 |
Accumulated deficit |  |  | (48,694,312 | ) |  |  | (20,194,493 | ) |  |  | (68,888,805 | )
Total stockholders’ equity |  |  | 22,485,667 |  |  |  | (20,194,493 | ) |  |  | 2,291,174 |
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY |  | $ | 9,107,127 |  |  |  | 3,397,064 |  |  | $ | 12,504,191 |
|  | Fintech Segment |  |  | Bitcoin Mining Segment |  |  | Consolidated Total |
Revenue: |  |  |  |  |  |  |  |  |
Transaction and processing fees |  | $ | 2,058,277 |  |  | $ | — |  |  | $ | 2,058,277 |
Merchant equipment rental and sales |  |  | 12,124 |  |  |  | — |  |  |  | 12,124 |
Revenue, net - bitcoin mining |  |  | — |  |  |  | 85,482 |  |  |  | 85,482 |
Other revenue from monthly recurring subscriptions |  |  | 72,637 |  |  |  | — |  |  |  | 72,637 |
Digital product revenue |  |  | 93,016 |  |  |  | — |  |  |  | 93,016 |
Total revenue |  |  | 2,236,054 |  |  |  | 85,482 |  |  |  | 2,321,536 |
Operating expenses: |  |  |  |  |  |  |  |  |  |  |  |
Processing and servicing costs, excluding merchant portfolio amortization |  |  | 1,808,814 |  |  |  | — |  |  |  | 1,808,814 |
Amortization expense |  |  | 3,972 |  |  |  | — |  |  |  | 3,972 |
Depreciation expense |  |  | — |  |  |  | 258,349 |  |  |  | 258,349 |
Salaries and wages |  |  | 255,666 |  |  |  | 275,690 |  |  |  | 531,356 |
Professional fees |  |  | 69,793 |  |  |  | 7,780 |  |  |  | 77,573 |
General and administrative expenses |  |  | 380,359 |  |  |  | 109,792 |  |  |  | 490,151 |
Total operating expenses |  |  | 2,518,604 |  |  |  | 651,611 |  |  |  | 3,170,215 |
Loss from operations |  |  | (282,550 | ) |  |  | (566,129 | ) |  |  | (848,679 | )
Other income (expense): |  |  |  |  |  |  |  |  |  |  |  |
Interest expense |  |  | (225,319 | ) |  |  | — |  |  |  | (225,319 | )
Other expense |  |  | (15,000 | ) |  |  | — |  |  |  | (15,000 | )
Total other income |  |  | (240,319 | ) |  |  | — |  |  |  | (240,319 | )
Net loss |  |  | (522,869 | ) |  |  | (566,129 | ) |  |  | (1,088,998 | )
Preferred dividends (related party) |  |  | (30,630 | ) |  |  | — |  |  |  | (30,630 | )
Net Loss Applicable to Common Stockholders’ |  | $ | (553,499 | ) |  | $ | (566,129 | ) |  | $ | (1,119,628 | )
The following tables detail revenue and expenses for the Company’s reportable segments as of and for the three months ended March 31, 2024.
|  | Fintech Segment |  |  | Bitcoin Mining Segment |  |  | Consolidated Total |
Revenue: |  |  |  |  |  |  |  |  |
Transaction and processing fees |  | $ | 2,288,209 |  |  | $ | — |  |  | $ | 2,288,209 |
Merchant equipment rental and sales |  |  | 20,183 |  |  |  | — |  |  |  | 20,183 |
Revenue, net - bitcoin mining |  |  | — |  |  |  | 211,617 |  |  |  | 211,617 |
Other revenue from monthly recurring subscriptions |  |  | 108,868 |  |  |  | — |  |  |  | 108,868 |
Digital product revenue |  |  | 867,305 |  |  |  | — |  |  |  | 867,305 |
Total revenue |  |  | 3,284,565 |  |  |  | 211,617 |  |  |  | 3,496,182 |
Operating expenses: |  |  |  |  |  |  |  |  |  |  |  |
Processing and servicing costs, excluding merchant portfolio amortization |  |  | 2,753,593 |  |  |  | — |  |  |  | 2,753,593 |
Amortization expense |  |  | 78,462 |  |  |  | 112,499 |  |  |  | 190,961 |
Depreciation expense |  |  | 28,476 |  |  |  | 721,044 |  |  |  | 749,520 |
Salaries and wages |  |  | 740,713 |  |  |  | 275,625 |  |  |  | 1,016,338 |
Professional fees |  |  | 602,193 |  |  |  | 46,250 |  |  |  | 648,443 |
General and administrative expenses |  |  | 762,809 |  |  |  | 262,083 |  |  |  | 1,024,892 |
Total operating expenses |  |  | 4,966,246 |  |  |  | 1,417,501 |  |  |  | 6,383,747 |
Loss from operations |  |  | (1,681,681 | ) |  |  | (1,205,884 | ) |  |  | (2,887,565 | )
Other income (expense): |  |  |  |  |  |  |  |  |  |  |  |
Realized gain on sale of bitcoin |  |  | — |  |  |  | 225,229 |  |  |  | 225,229 |
Unrealized gain on investment |  |  | — |  |  |  | 274,731 |  |  |  | 274,731 |
Interest expense |  |  | (13,013 | ) |  |  |  |  |  |  | (13,013 | )
Total other income |  |  | (13,013 | ) |  |  | 499,960 |  |  |  | 486,947 |
Net loss |  |  | (1,694,694 | ) |  |  | (705,924 | ) |  |  | (2,400,618 | )
Net loss attributed to noncontrolling interest |  |  | 29,022 |  |  |  | — |  |  |  | 29,022 |
Net loss attributed to The OLB Group and Subsidiaries |  |  | (1,665,672 | ) |  |  | (705,924 | ) |  |  | (2,371,596 | )
Preferred dividends (related parties) |  |  | (31,311 | ) |  |  | — |  |  |  | (31,311 | )
Net Loss Applicable to Common Shareholders |  | $ | (1,696,983 | ) |  | $ | (705,924 | ) |  | $ | (2,402,907 | )

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name 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