2024 Q3 Form 10-Q Financial Statement

#000168316824004815 Filed on July 15, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $1.225M
YoY Change 761.88%
Cost Of Revenue
YoY Change
Gross Profit $221.7K
YoY Change 217.88%
Gross Profit Margin 18.1%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $232.8K
YoY Change 58.35%
% of Gross Profit 105.0%
Operating Expenses $756.2K
YoY Change 29.29%
Operating Profit -$534.5K
YoY Change 3.76%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net -$119.7K
YoY Change -2214.66%
Pretax Income
YoY Change
Income Tax
% Of Pretax Income
Net Earnings -$654.2K
YoY Change 24.92%
Net Earnings / Revenue -53.41%
Basic Earnings Per Share -$0.01
Diluted Earnings Per Share -$0.01
COMMON SHARES
Basic Shares Outstanding 49.91M shares 49.82M shares
Diluted Shares Outstanding 49.84M shares

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $499.3K $281.0K
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses $675.0K $778.7K
Receivables
Other Receivables
Total Short-Term Assets $1.564M $2.335M
YoY Change 108.49% 134.02%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $5.720M $5.831M
YoY Change -23.25% -21.55%
TOTAL ASSETS
Total Short-Term Assets $1.564M $2.335M
Total Long-Term Assets $5.720M $5.831M
Total Assets $7.284M $8.167M
YoY Change -11.21% -3.14%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $400.6K $559.1K
YoY Change 434.8% 960.39%
Accrued Expenses
YoY Change
Deferred Revenue $703.5K
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $3.131M $3.231M
YoY Change 100.88% 119.35%
LONG-TERM LIABILITIES
Long-Term Debt
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $3.131M $3.231M
Total Long-Term Liabilities
Total Liabilities $3.196M $3.553M
YoY Change 64.26% 86.02%
SHAREHOLDERS EQUITY
Retained Earnings -$8.224M -$7.410M
YoY Change 66.77% 96.64%
Common Stock $4.991K $4.991K
YoY Change 0.48% 0.95%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $4.088M $4.613M
YoY Change
Total Liabilities & Shareholders Equity $7.284M $8.167M
YoY Change -11.21% -3.14%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income -$654.2K
YoY Change 24.92%
Depreciation, Depletion And Amortization $232.8K
YoY Change 58.35%
Cash From Operating Activities
YoY Change
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities
YoY Change
NET CHANGE
Cash From Operating Activities
Cash From Investing Activities
Cash From Financing Activities
Net Change In Cash
YoY Change
FREE CASH FLOW
Cash From Operating Activities
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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0 usd
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-64645 usd
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
16573 usd
us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
159833 usd
us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
55641 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-247017 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-443025 usd
us-gaap Proceeds From Divestiture Of Interest In Joint Venture
ProceedsFromDivestitureOfInterestInJointVenture
8408 usd
us-gaap Proceeds From Divestiture Of Interest In Joint Venture
ProceedsFromDivestitureOfInterestInJointVenture
0 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
75934 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
731100 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-67526 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-731100 usd
us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
325000 usd
us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
1300000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
325000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
1300000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
10457 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
125875 usd
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
270547 usd
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
392550 usd
CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
281004 usd
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
518425 usd
BMNR Proceeds Received From Bitcoin Loan
ProceedsReceivedFromBitcoinLoan
577934 usd
BMNR Proceeds Received From Bitcoin Loan
ProceedsReceivedFromBitcoinLoan
0 usd
BMNR Repayment Of Bitcoin Loan In Bitcoin
RepaymentOfBitcoinLoanInBitcoin
577934 usd
BMNR Repayment Of Bitcoin Loan In Bitcoin
RepaymentOfBitcoinLoanInBitcoin
0 usd
BMNR Purchase Of Equipment With Bitcoin
PurchaseOfEquipmentWithBitcoin
339525 usd
BMNR Purchase Of Equipment With Bitcoin
PurchaseOfEquipmentWithBitcoin
0 usd
BMNR Sale Of Fixed Assets For Note Receivable
SaleOfFixedAssetsForNoteReceivable
0 usd
BMNR Sale Of Fixed Assets For Note Receivable
SaleOfFixedAssetsForNoteReceivable
613514 usd
BMNR Property Contributed To Joint Venture
PropertyContributedToJointVenture
0 usd
BMNR Property Contributed To Joint Venture
PropertyContributedToJointVenture
987429 usd
us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_84C_eus-gaap--UseOfEstimates_zkA1yga7gLSf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i><span style="text-decoration: underline"><span id="xdx_864_zr29V0tlnbwc">Use of Estimates</span></span></i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The preparation of condensed financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of liabilities and disclosure of contingent assets and liabilities at the date of the condensed financial statements. The most significant estimates relate to the calculation of stock-based compensation, calculation of the Company’s derivative liability, useful lives and impairment of fixed assets, income taxes and contingencies. The Company bases its estimates on historical experience, known or expected trends, and various other assumptions that are believed to be reasonable given the quality of information available as of the date of these condensed financial statements. The results of these assumptions provide the basis for making estimates about the carrying amounts of assets and liabilities that are not readily apparent from other sources. Actual results could differ from these estimates. There have been no material changes to the Company’s accounting estimates since the Company’s condensed financial statements for the fiscal year ended August 31, 2023.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
CY2024Q2 BMNR Revenue From Hosting
RevenueFromHosting
16762 usd
BMNR Revenue From Hosting
RevenueFromHosting
38743 usd
CY2024Q2 BMNR Revenue From Sale Of Mining Equipment
RevenueFromSaleOfMiningEquipment
20471 usd
CY2024Q2 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
281004 usd
CY2023Q3 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
270547 usd
CY2024Q2 us-gaap Crypto Asset Realized Gain Loss Operating
CryptoAssetRealizedGainLossOperating
43183 usd
us-gaap Crypto Asset Realized Gain Loss Operating
CryptoAssetRealizedGainLossOperating
119774 usd
CY2024Q2 BMNR Fixed Assets Not In Service
FixedAssetsNotInService
2709697 usd
CY2023Q3 BMNR Fixed Assets Not In Service
FixedAssetsNotInService
4453466 usd
CY2023Q3 us-gaap Crypto Asset Fair Value
CryptoAssetFairValue
129469 usd
CY2023Q3 BMNR Crypto Units
CryptoUnits
5.0
CY2024Q2 us-gaap Crypto Asset Fair Value
CryptoAssetFairValue
169632 usd
CY2024Q2 BMNR Crypto Units
CryptoUnits
2.5
BMNR Revenue From Sale Of Mining Equipment
RevenueFromSaleOfMiningEquipment
210662 usd
BMNR Revenue From Sale Of Mining Equipment
RevenueFromSaleOfMiningEquipment
138011 usd
BMNR Revenue From Hosting
RevenueFromHosting
38743 usd
BMNR Revenue From Hosting
RevenueFromHosting
0 usd
BMNR Revenue From Selfmining
RevenueFromSelfmining
2378507 usd
BMNR Revenue From Selfmining
RevenueFromSelfmining
261921 usd
us-gaap Revenues
Revenues
2627913 usd
us-gaap Revenues
Revenues
399932 usd
CY2024Q2 us-gaap Property Plant And Equipment Other Net
PropertyPlantAndEquipmentOtherNet
2709698 usd
us-gaap Depreciation
Depreciation
684564 usd
us-gaap Depreciation
Depreciation
294270 usd
CY2024Q2 BMNR Indebtedness Incurred
IndebtednessIncurred
50000 usd
CY2024Q2 BMNR Notes Receivable
NotesReceivable
1480360 usd
CY2023Q3 BMNR Notes Receivable
NotesReceivable
1761193 usd
CY2024Q2 BMNR Notes Receivable Noncurrent
NotesReceivableNoncurrent
374444 usd
CY2023Q3 BMNR Notes Receivable Noncurrent
NotesReceivableNoncurrent
1386749 usd
CY2024Q2 BMNR Notes Receivable Current
NotesReceivableCurrent
1105916 usd
CY2023Q3 BMNR Notes Receivable Current
NotesReceivableCurrent
374444 usd
CY2024Q2 BMNR Notes Receivable
NotesReceivable
1480360 usd
CY2023Q3 BMNR Notes Receivable
NotesReceivable
1761193 usd
us-gaap Interest And Other Income
InterestAndOtherIncome
44376 usd
CY2024Q2 us-gaap Debt Instrument Description
DebtInstrumentDescription
the Company agreed to extend the maturity date of a note receivable in the principal amount $731,472 from August 31, 2024 to December 31, 2024.
CY2022Q4 us-gaap Site Contingency Uncertainties From Insurance
SiteContingencyUncertaintiesFromInsurance
Under our hosting agreement with ROC Digital, we located one immersion container at the site for $500 per month, plus payment of our pro rata share of electricity, internet and insurance for the site. Under the hosting agreement, we also agreed to contribute $100,000 toward the electricity deposit for the site, which is refundable to us at the earlier of the date the electricity provider releases the deposit or 90 days after the expiration or termination of the hosting agreement.
us-gaap Related Party Transaction Description Of Transaction
RelatedPartyTransactionDescriptionOfTransaction
The total sales price of the transformers is approximately $1,407,000 and our total cost is expected to be $1,340,000. Rykor owns 2,672,000 shares of our common stock and warrants to purchase an additional 5,344,000 shares, and as a result is the beneficial owner of approximately 14.5% of our common stock.
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-31641 usd
CY2024Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
500000000 shares
CY2024Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2024Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
49912607 shares
CY2023Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
49665649 shares
CY2024Q2 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
9500800 shares
CY2024Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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