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Segments
 3 Months Ended
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)