2022 Q3 Form 10-Q Financial Statement

#000149315222022108 Filed on August 11, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2022 Q1
Revenue $344.2K $514.3K $563.0K
YoY Change 6.44% 35.18% 676.37%
Cost Of Revenue $82.20K $93.90K $137.9K
YoY Change 14.66% 58.48% 819.13%
Gross Profit $262.0K $420.4K $425.2K
YoY Change 4.09% 30.88% 639.13%
Gross Profit Margin 76.12% 81.74% 75.51%
Selling, General & Admin $441.7K $535.7K $2.116M
YoY Change -91.23% 70.44% -73.19%
% of Gross Profit 168.6% 127.42% 497.7%
Research & Development $126.9K $185.0K $136.7K
YoY Change -53.69% -24.59% 64.86%
% of Gross Profit 48.42% 44.0% 32.16%
Depreciation & Amortization $1.130K $930.00 $800.00
YoY Change 707.14% 933.33% 280.95%
% of Gross Profit 0.43% 0.22% 0.19%
Operating Expenses $1.363M $9.855M $2.253M
YoY Change -74.33% 117.51% -71.76%
Operating Profit -$1.101M -$9.435M -$1.828M
YoY Change -78.23% 124.12% -76.92%
Interest Expense $91.38K $2.108M -$570.1K
YoY Change -93.59% -433.35% -123.38%
% of Operating Profit
Other Income/Expense, Net $71.25K $1.710M -$35.63K
YoY Change -95.0% -370.35% -97.26%
Pretax Income -$1.030M -$7.725M -$5.741M
YoY Change -73.19% 59.53% -15.36%
Income Tax
% Of Pretax Income
Net Earnings -$1.030M -$7.725M -$5.741M
YoY Change -73.19% 59.53% -15.36%
Net Earnings / Revenue -299.32% -1501.83% -1019.63%
Basic Earnings Per Share -$0.08 -$0.61 -$0.47
Diluted Earnings Per Share -$79.54K -$610.9K -$468.8K
COMMON SHARES
Basic Shares Outstanding 12.97M shares 12.64M shares 12.25M shares
Diluted Shares Outstanding 12.95M shares 12.64M shares

Balance Sheet

Concept 2022 Q3 2022 Q2 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.889M $3.211M $4.863M
YoY Change -24.35% -42.3% -38.71%
Cash & Equivalents $2.900M $3.200M $2.245M
Short-Term Investments
Other Short-Term Assets $2.830M $2.737M $6.917M
YoY Change 499.13% 357.54% 1426.04%
Inventory
Prepaid Expenses $207.1K $261.2K
Receivables
Other Receivables
Total Short-Term Assets $5.719M $5.948M $11.78M
YoY Change 33.27% -3.49% 40.44%
LONG-TERM ASSETS
Property, Plant & Equipment $12.33K $10.62K $11.54K
YoY Change 184.76% 233.81% 57600.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $5.600M $5.499M $8.684M
YoY Change -36.64% -33.47% 12.27%
Total Long-Term Assets $5.612M $5.509M $8.696M
YoY Change -36.53% -33.36% 12.42%
TOTAL ASSETS
Total Short-Term Assets $5.719M $5.948M $11.78M
Total Long-Term Assets $5.612M $5.509M $8.696M
Total Assets $11.33M $11.46M $20.48M
YoY Change -13.72% -20.61% 26.99%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $100.9K $139.3K $102.4K
YoY Change -1.22% -11.19% 49.34%
Accrued Expenses $317.2K $283.2K $3.210K
YoY Change 21046.87% 7575.45% 114.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0% -100.0% -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.030M $1.067M $2.944M
YoY Change -77.89% -25.24% 285.34%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $1.030M $1.067M $2.944M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $1.030M $1.067M $2.944M
YoY Change -77.89% -25.24% 285.34%
SHAREHOLDERS EQUITY
Retained Earnings -$150.1M -$149.1M
YoY Change
Common Stock $160.4M $159.4M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $10.30M $10.39M $17.53M
YoY Change
Total Liabilities & Shareholders Equity $11.33M $11.46M $20.48M
YoY Change -13.72% -20.61% 26.99%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2022 Q1
OPERATING ACTIVITIES
Net Income -$1.030M -$7.725M -$5.741M
YoY Change -73.19% 59.53% -15.36%
Depreciation, Depletion And Amortization $1.130K $930.00 $800.00
YoY Change 707.14% 933.33% 280.95%
Cash From Operating Activities -$780.6K $1.706M -$1.055M
YoY Change 27.26% -327.58% -58.48%
INVESTING ACTIVITIES
Capital Expenditures -$135.1K -$620.1K -$8.524M
YoY Change -86.08% 23.64%
Acquisitions
YoY Change
Other Investing Activities $122.6K $0.00 $310.2K
YoY Change
Cash From Investing Activities -$12.56K -$620.0K -$8.214M
YoY Change -98.71% 23.64% 2.74%
FINANCING ACTIVITIES
Cash Dividend Paid $635.0K
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 490.7K -139.9K 10.11M
YoY Change -172.9% -117.49% -24.41%
NET CHANGE
Cash From Operating Activities -780.6K 1.706M -1.055M
Cash From Investing Activities -12.56K -620.0K -8.214M
Cash From Financing Activities 490.7K -139.9K 10.11M
Net Change In Cash -302.4K 946.4K 844.2K
YoY Change -86.6% -309.65% -70.31%
FREE CASH FLOW
Cash From Operating Activities -$780.6K $1.706M -$1.055M
Capital Expenditures -$135.1K -$620.1K -$8.524M
Free Cash Flow -$645.4K $2.326M $7.469M
YoY Change -280.76% -1036.94% -393.91%

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us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.08
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-3.19
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
12644719 shares
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
5667229 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
12446102 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
5225019 shares
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
12103443 usd
BTCS Issuance Of Common Stock Net Of Offering Cost Atthemarket Offering
IssuanceOfCommonStockNetOfOfferingCostAtthemarketOffering
10604441 usd
us-gaap Stock Issued During Period Value Share Based Compensation Gross
StockIssuedDuringPeriodValueShareBasedCompensationGross
1782802 usd
us-gaap Adjustments To Additional Paid In Capital Other
AdjustmentsToAdditionalPaidInCapitalOther
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us-gaap Net Income Loss
NetIncomeLoss
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CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
10390713 usd
CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
1043287 usd
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
2811534 usd
BTCS Issuance Of Common Stock And Warrants For Cash Net
IssuanceOfCommonStockAndWarrantsForCashNet
8856450 usd
BTCS Issuance Of Series C2 Convertible Preferred Stock
IssuanceOfSeriesC2ConvertiblePreferredStock
1100000 usd
BTCS Conversion Of Series C1 Convertible Preferred Stock
ConversionOfSeriesC1ConvertiblePreferredStock
-176 usd
BTCS Sale Of Nonproductive Digital Assetcurrencies
SaleOfNonproductiveDigitalAssetcurrencies
4274491 usd
BTCS Realized Gain On Digital Assets Currencies Transactions
RealizedGainOnDigitalAssetsCurrenciesTransactions
469556 usd
us-gaap Adjustments To Additional Paid In Capital Convertible Debt With Conversion Feature
AdjustmentsToAdditionalPaidInCapitalConvertibleDebtWithConversionFeature
1000000 usd
BTCS Warrant Exercise
WarrantExercise
398200 usd
us-gaap Stock Issued During Period Value Share Based Compensation Gross
StockIssuedDuringPeriodValueShareBasedCompensationGross
9226227 usd
BTCS Realized Gain On Digital Assets Currencies Transactions
RealizedGainOnDigitalAssetsCurrenciesTransactions
3054418 usd
us-gaap Other Asset Impairment Charges
OtherAssetImpairmentCharges
12202225 usd
BTCS Stockbased Compensation In Connection With Issuance Of Series C2 Convertible Preferred Stock
StockbasedCompensationInConnectionWithIssuanceOfSeriesC2ConvertiblePreferredStock
179277 usd
us-gaap Net Income Loss
NetIncomeLoss
-11624248 usd
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
12990551 usd
CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
17531184 usd
CY2022Q2 BTCS Issuance Of Common Stock Net Of Offering Cost Atthemarket Offering
IssuanceOfCommonStockNetOfOfferingCostAtthemarketOffering
90674 usd
CY2022Q2 us-gaap Stock Issued During Period Value Share Based Compensation Gross
StockIssuedDuringPeriodValueShareBasedCompensationGross
493528 usd
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-7724673 usd
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
10390713 usd
CY2021Q1 us-gaap Stockholders Equity
StockholdersEquity
15346717 usd
CY2021Q2 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
798947 usd
CY2021Q2 us-gaap Stock Issued During Period Value Share Based Compensation Gross
StockIssuedDuringPeriodValueShareBasedCompensationGross
1686960 usd
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
-4842073 usd
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
12990551 usd
us-gaap Net Income Loss
NetIncomeLoss
-13465416 usd
us-gaap Net Income Loss
NetIncomeLoss
-11624248 usd
us-gaap Depreciation
Depreciation
1727 usd
us-gaap Depreciation
Depreciation
299 usd
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
1134771 usd
us-gaap Share Based Compensation
ShareBasedCompensation
1782802 usd
us-gaap Share Based Compensation
ShareBasedCompensation
9226702 usd
BTCS Stockbased Compensation In Connection With Issuances Of Series C2 Convertible Preferred Stock
StockbasedCompensationInConnectionWithIssuancesOfSeriesC2ConvertiblePreferredStock
179277 usd
BTCS Validator Revenue
ValidatorRevenue
1077364 usd
BTCS Validator Revenue
ValidatorRevenue
453023 usd
BTCS Blockchain Network Fees
BlockchainNetworkFees
1321 usd
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-1068750 usd
BTCS Purchase Of Nonproductive Digital Assetscurrencies
PurchaseOfNonproductiveDigitalAssetscurrencies
5761549 usd
BTCS Sale Of Nonproductive Digital Assetcurrencies
SaleOfNonproductiveDigitalAssetcurrencies
2547322 usd
us-gaap Other Asset Impairment Charges
OtherAssetImpairmentCharges
3569138 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-63376 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
566337 usd
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
565 usd
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
130541 usd
us-gaap Increase Decrease In Accrued Salaries
IncreaseDecreaseInAccruedSalaries
132853 usd
us-gaap Increase Decrease In Accrued Salaries
IncreaseDecreaseInAccruedSalaries
-346689 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
651105 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-3291045 usd
BTCS Purchase Of Productive Digital Assetscurrencies For Validating
PurchaseOfProductiveDigitalAssetscurrenciesForValidating
9141785 usd
BTCS Purchase Of Productive Digital Assetscurrencies For Validating
PurchaseOfProductiveDigitalAssetscurrenciesForValidating
8493136 usd
BTCS Sale Of Productive Digital Assetscurrencies
SaleOfProductiveDigitalAssetscurrencies
310149 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2558 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
3245 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-8834194 usd
CY2022Q1 BTCS Capital Shares Payable Current
CapitalSharesPayableCurrent
75000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-8496381 usd
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
630801 usd
us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
400000 usd
us-gaap Proceeds From Issuance Of Convertible Preferred Stock
ProceedsFromIssuanceOfConvertiblePreferredStock
1100000 usd
us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
1000000 usd
BTCS Net Proceeds From Issuance Of Common Stock And Warrants For Cash
NetProceedsFromIssuanceOfCommonStockAndWarrantsForCash
8865000 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
2814133 usd
BTCS Net Proceeds From Issuance Common Stock Atthemarket Offering
NetProceedsFromIssuanceCommonStockAtthemarketOffering
-10604441 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
9973640 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
14179133 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
1790551 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
2391707 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
1400867 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
524135 usd
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
3191418 usd
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
2915842 usd
BTCS Deemed Dividends Related To Amortization Of Beneficial Conversion Feature Of Series C2 Convertible Preferred Stock
DeemedDividendsRelatedToAmortizationOfBeneficialConversionFeatureOfSeriesC2ConvertiblePreferredStock
32353 usd
BTCS Deemed Dividends Related To Recognition Of Downround Adjustment To Conversion Amount For Series C2 Convertible Preferred Stock
DeemedDividendsRelatedToRecognitionOfDownroundAdjustmentToConversionAmountForSeriesC2ConvertiblePreferredStock
5020883 usd
BTCS Conversion Of Series C1 Preferred Stock
ConversionOfSeriesC1PreferredStock
196 usd
BTCS Beneficial Conversion Feature Of Series C2 Convertible Preferred Stock
BeneficialConversionFeatureOfSeriesC2ConvertiblePreferredStock
-129412 usd
BTCS Beneficial Conversion Features Associated With Convertible Notes Payable
BeneficialConversionFeaturesAssociatedWithConvertibleNotesPayable
1000000 usd
CY2022Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
97500000 shares
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p id="xdx_843_eus-gaap--PriorPeriodReclassificationAdjustmentDescription_zSw0AHlz5Wsg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span id="xdx_868_zaCOmL4J8BEa">Reclassifications</span></i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certain prior period amounts have been reclassified in order to conform with the current period presentation. These reclassifications have no impact on the Company’s previously reported net income (loss).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p id="xdx_849_eus-gaap--ConcentrationRiskCreditRisk_zAr9GNwABFR2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span id="xdx_860_zNKVLFZZXv67">Concentration of Cash</span></i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company maintains cash balances at two financial institutions in checking accounts and money market accounts. The Company considers all highly liquid investments with original maturities of six months or less when purchased to be cash and cash equivalents. As of June 30, 2022 and December 31, 2021, the Company had approximately $<span id="xdx_901_eus-gaap--CashAndCashEquivalentsAtCarryingValue_iI_pn5n6_c20220630_zWx6vOx2Lvxb" title="Cash and cash equivalents">3.2</span> million and $<span id="xdx_906_eus-gaap--CashAndCashEquivalentsAtCarryingValue_iI_pn5n6_c20211231_ztrYIIE5IJE9" title="Cash and cash equivalents">1.4</span> million in cash. The Company has not experienced any losses in such accounts and believes it is not exposed to any significant credit risk on cash.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial instruments that potentially subject the Company to concentration of credit risk consist principally of cash deposits. Accounts at each institution are insured by the Federal Deposit Insurance Corporation (“FDIC”) up to $<span id="xdx_901_eus-gaap--CashFDICInsuredAmount_iI_pp0p0_c20220630__srt--RangeAxis__srt--MaximumMember_zOzt9xZZp7ok" title="Cash, FDIC insured amount">250,000</span>. As of June 30, 2022 and December 31, 2021, the Company had approximately $<span id="xdx_90A_eus-gaap--CashFDICInsuredAmount_iI_pn5n6_c20220630_zFJu4Bpk8IY9" title="Cash, FDIC insured amount">2.7</span> million and $<span id="xdx_906_eus-gaap--CashFDICInsuredAmount_iI_pn5n6_c20211231_zoBcpV3WIw03" title="Cash, FDIC insured amount">0.9</span> million in excess of the FDIC insured limit, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2022Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
3200000 usd
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1400000 usd
CY2022Q2 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
2700000 usd
CY2021Q4 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
900000 usd
us-gaap Impairment Losses Related To Real Estate Partnerships
ImpairmentLossesRelatedToRealEstatePartnerships
12200000 usd
us-gaap Impairment Losses Related To Real Estate Partnerships
ImpairmentLossesRelatedToRealEstatePartnerships
3600000 usd
us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
470000 usd
us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
3100000 usd
CY2022Q2 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
783750 usd
CY2021Q4 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
1852500 usd
CY2021Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
138716 usd
us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_847_eus-gaap--UseOfEstimates_zL9fhnYR03D1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span id="xdx_86F_z9HVGVI211Wa">Use of Estimates</span></i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The accompanying financial statements have been prepared in conformity with U.S. GAAP. This requires management to make estimates and assumptions that affect certain reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the period. The Company’s significant estimates and assumptions include the recoverability and useful lives of indefinite life intangible assets, stock-based compensation, and the valuation allowance related to the Company’s deferred tax assets. Certain of the Company’s estimates, including the carrying amount of the indefinite life intangible assets, could be affected by external conditions, including those unique to the Company and general economic conditions. It is reasonably possible that these external factors could have an effect on the Company’s estimates and could cause actual results to differ from those estimates and assumptions.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
us-gaap Income Tax Examination Likelihood Of Unfavorable Settlement
IncomeTaxExaminationLikelihoodOfUnfavorableSettlement
Tax positions are recognized only when it is more likely than not (i.e., likelihood of greater than 50%), based on technical merits, that the position would be sustained upon examination by taxing authorities. Tax positions that meet the more likely than not threshold are measured using a probability-weighted approach as the largest amount of tax benefit that is greater than 50% likely of being realized upon settlement
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
1224500 shares
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice
2.07
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1
P3Y9M18D
CY2022Q1 us-gaap Dividends Payable Amount Per Share
DividendsPayableAmountPerShare
0.05
us-gaap Payments Of Dividends
PaymentsOfDividends
635000 usd
us-gaap Payments Of Dividends
PaymentsOfDividends
0 usd
us-gaap Advertising Expense
AdvertisingExpense
65000 usd
us-gaap Advertising Expense
AdvertisingExpense
3000 usd
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3825035 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5213823 shares
CY2022Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
3757 usd
CY2022Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
283224 usd
CY2021Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
146050 usd
CY2022Q2 us-gaap Accrued Bonuses Current And Noncurrent
AccruedBonusesCurrentAndNoncurrent
139000 usd
CY2021Q4 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
1852500 usd
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-1068750 usd
CY2022Q2 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
783750 usd
CY2021Q3 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
14500 shares
CY2021Q3 us-gaap Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
1-for-10 Reverse Split
CY2021Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Accelerated Vesting Number
SharebasedCompensationArrangementBySharebasedPaymentAwardAcceleratedVestingNumber
480000 shares
CY2021Q1 BTCS Share Based Compensation Arrangements By Share Based Payment Award Award Vesting Date
ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardVestingDate
2022-01-01
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1235000 shares
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
2.14
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
1488000 usd
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P4Y3M18D
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1235000 shares
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
2.14
BTCS Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm
P3Y9M18D
CY2022Q1 us-gaap Stock Issued During Period Shares Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures
1521296 shares
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice
19.39
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
1.037 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0132 pure
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
29363 shares
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
5.96
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
1662607 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
3.29
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
47772 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue
3.14
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
1644198 shares
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
3.34
CY2022Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
508182 usd
CY2021Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1722309 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1895914 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
9003786 usd
CY2022Q2 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
140187 usd
CY2021Q4 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
7334 usd
CY2022Q2 us-gaap Accounts Payable Current
AccountsPayableCurrent
139280 usd
us-gaap Defined Contribution Plan Maximum Annual Contributions Per Employee Percent
DefinedContributionPlanMaximumAnnualContributionsPerEmployeePercent
1 pure
us-gaap Defined Contribution Plan Maximum Annual Contributions Per Employee Amount
DefinedContributionPlanMaximumAnnualContributionsPerEmployeeAmount
45000 usd

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0001493152-22-022108.txt Edgar Link pending
0001493152-22-022108-xbrl.zip Edgar Link pending
btcs-20220630.xsd Edgar Link pending
ex31-1.htm Edgar Link pending
ex31-2.htm Edgar Link pending
ex32.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
form10-q.htm Edgar Link pending
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R1.htm Edgar Link pending
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