2022 Q4 Form 10-Q Financial Statement

#000149315222031401 Filed on November 10, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3 2021 Q3
Revenue $270.9K $344.2K $323.4K
YoY Change -38.0% 6.44%
Cost Of Revenue $112.5K $82.20K $71.69K
YoY Change -8.12% 14.66%
Gross Profit $158.4K $262.0K $251.7K
YoY Change -49.62% 4.09%
Gross Profit Margin 58.48% 76.12% 77.83%
Selling, General & Admin $906.7K $441.7K $5.037M
YoY Change -62.31% -91.23% 472.44%
% of Gross Profit 572.36% 168.6% 2001.36%
Research & Development $163.2K $126.9K $273.9K
YoY Change 47.59% -53.69%
% of Gross Profit 103.0% 48.42% 108.83%
Depreciation & Amortization $1.180K $1.130K $140.00
YoY Change 136.0% 707.14% -36.36%
% of Gross Profit 0.74% 0.43% 0.06%
Operating Expenses $1.070M $1.363M $5.311M
YoY Change -57.48% -74.33%
Operating Profit -$911.5K -$1.101M -$5.059M
YoY Change -58.6% -78.23%
Interest Expense $515.8K $91.38K $1.426M
YoY Change -69.42% -93.59% -1584.08%
% of Operating Profit
Other Income/Expense, Net $0.00 $71.25K $1.426M
YoY Change -100.0% -95.0% -4852.52%
Pretax Income -$1.397M -$1.030M -$3.842M
YoY Change 139.63% -73.19% 282.2%
Income Tax
% Of Pretax Income
Net Earnings -$1.397M -$1.030M -$3.842M
YoY Change 139.63% -73.19% 282.2%
Net Earnings / Revenue -515.73% -299.32% -1188.18%
Basic Earnings Per Share -$0.08 -$0.59
Diluted Earnings Per Share -$0.11 -$79.54K -$589.4K
COMMON SHARES
Basic Shares Outstanding 13.08M shares 12.97M shares 6.519M shares
Diluted Shares Outstanding 12.95M shares

Balance Sheet

Concept 2022 Q4 2022 Q3 2021 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.247M $2.889M $3.819M
YoY Change -50.27% -24.35% 202.2%
Cash & Equivalents $2.100M $2.900M $658.9K
Short-Term Investments $100.0K
Other Short-Term Assets $1.951M $2.830M $472.4K
YoY Change 105.74% 499.13% 1231.8%
Inventory
Prepaid Expenses $123.7K $207.1K
Receivables
Other Receivables
Total Short-Term Assets $4.198M $5.719M $4.291M
YoY Change -23.21% 33.27% 230.31%
LONG-TERM ASSETS
Property, Plant & Equipment $11.15K $12.33K $4.330K
YoY Change 13.99% 184.76% 862.22%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $5.709M $5.600M $8.838M
YoY Change -33.82% -36.64%
Total Long-Term Assets $5.720M $5.612M $8.842M
YoY Change -33.76% -36.53% 1964871.11%
TOTAL ASSETS
Total Short-Term Assets $4.198M $5.719M $4.291M
Total Long-Term Assets $5.720M $5.612M $8.842M
Total Assets $9.918M $11.33M $13.13M
YoY Change -29.67% -13.72% 910.57%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $76.73K $100.9K $102.1K
YoY Change -44.69% -1.22% 241.77%
Accrued Expenses $372.7K $317.2K $1.500K
YoY Change 155.16% 21046.87% -99.85%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $848.7K
YoY Change -100.0% 125.22%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $586.4K $1.030M $4.657M
YoY Change -70.66% -77.89% 229.58%
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 $586.4K $1.030M $4.657M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $586.4K $1.030M $4.657M
YoY Change -70.66% -77.89% 229.58%
SHAREHOLDERS EQUITY
Retained Earnings -$151.5M -$150.1M
YoY Change 11.72%
Common Stock $160.8M $160.4M
YoY Change 8.88%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $9.331M $10.30M $8.476M
YoY Change
Total Liabilities & Shareholders Equity $9.918M $11.33M $13.13M
YoY Change -29.67% -13.72% 910.57%

Cashflow Statement

Concept 2022 Q4 2022 Q3 2021 Q3
OPERATING ACTIVITIES
Net Income -$1.397M -$1.030M -$3.842M
YoY Change 139.63% -73.19% 282.2%
Depreciation, Depletion And Amortization $1.180K $1.130K $140.00
YoY Change 136.0% 707.14% -36.36%
Cash From Operating Activities -$647.3K -$780.6K -$613.4K
YoY Change -32.38% 27.26% 11.85%
INVESTING ACTIVITIES
Capital Expenditures $179.0K -$135.1K -$970.4K
YoY Change -3107.9% -86.08%
Acquisitions
YoY Change
Other Investing Activities $52.88K $122.6K
YoY Change
Cash From Investing Activities -$126.1K -$12.56K -$970.4K
YoY Change 2019.16% -98.71%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $419.6K
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 31.20K 490.7K -673.1K
YoY Change -98.17% -172.9% -181.17%
NET CHANGE
Cash From Operating Activities -647.3K -780.6K -613.4K
Cash From Investing Activities -126.1K -12.56K -970.4K
Cash From Financing Activities 31.20K 490.7K -673.1K
Net Change In Cash -742.2K -302.4K -2.257M
YoY Change -200.04% -86.6% -903.42%
FREE CASH FLOW
Cash From Operating Activities -$647.3K -$780.6K -$613.4K
Capital Expenditures $179.0K -$135.1K -$970.4K
Free Cash Flow -$826.3K -$645.4K $357.1K
YoY Change -13.14% -280.76%

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NetIncomeLossAvailableToCommonStockholdersBasic
-14495664 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-20533009 usd
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.08
CY2021Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.59
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.15
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-3.63
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
12952645 shares
CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
6518645 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
12616805 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
5660966 shares
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
12103443 usd
BTCS Issuance Of Common Stock Net Of Offering Cost Atthemarket Offering
IssuanceOfCommonStockNetOfOfferingCostAtthemarketOffering
11095132 usd
us-gaap Stock Issued During Period Value Share Based Compensation Gross
StockIssuedDuringPeriodValueShareBasedCompensationGross
2233608 usd
us-gaap Adjustments To Additional Paid In Capital Other
AdjustmentsToAdditionalPaidInCapitalOther
-634557 usd
us-gaap Net Income Loss
NetIncomeLoss
-14495664 usd
CY2022Q3 us-gaap Stockholders Equity
StockholdersEquity
10301962 usd
CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
1043287 usd
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
3014005 usd
BTCS Issuance Of Common Stock Net Of Offering Cost Atthemarket Offering
IssuanceOfCommonStockNetOfOfferingCostAtthemarketOffering
219746 usd
BTCS Issuance Of Common Stock And Warrants For Cash Net
IssuanceOfCommonStockAndWarrantsForCashNet
8865000 usd
BTCS Warrant Liabilities Value Related To Issuance Of Common Stock
WarrantLiabilitiesValueRelatedToIssuanceOfCommonStock
-5771250 usd
BTCS Issuance Of Series C Two Convertible Preferred Stock
IssuanceOfSeriesCTwoConvertiblePreferredStock
1100000 usd
us-gaap Adjustments To Additional Paid In Capital Convertible Debt With Conversion Feature
AdjustmentsToAdditionalPaidInCapitalConvertibleDebtWithConversionFeature
1000000 usd
BTCS Warrant Exercise
WarrantExercise
400000 usd
us-gaap Stock Issued During Period Value Share Based Compensation Gross
StockIssuedDuringPeriodValueShareBasedCompensationGross
13892884 usd
BTCS Stockbased Compensation In Connection With Issuance Of Series C Two Convertible Preferred Stock
StockbasedCompensationInConnectionWithIssuanceOfSeriesCTwoConvertiblePreferredStock
179277 usd
us-gaap Net Income Loss
NetIncomeLoss
-15466585 usd
CY2021Q3 us-gaap Stockholders Equity
StockholdersEquity
8476364 usd
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
10390713 usd
CY2022Q3 BTCS Issuance Of Common Stock Net Of Offering Cost Atthemarket Offering
IssuanceOfCommonStockNetOfOfferingCostAtthemarketOffering
490692 usd
CY2022Q3 us-gaap Stock Issued During Period Value Share Based Compensation Gross
StockIssuedDuringPeriodValueShareBasedCompensationGross
450805 usd
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
-1030248 usd
CY2022Q3 us-gaap Stockholders Equity
StockholdersEquity
10301962 usd
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
13004151 usd
CY2021Q3 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
199872 usd
CY2021Q3 BTCS Issuance Of Common Stock Net Of Offering Cost Atthemarket Offering
IssuanceOfCommonStockNetOfOfferingCostAtthemarketOffering
219746 usd
CY2021Q3 BTCS Warrant Liabilities Value Related To Issuance Of Common Stock
WarrantLiabilitiesValueRelatedToIssuanceOfCommonStock
-5771250 usd
CY2021Q3 us-gaap Stock Issued During Period Value Share Based Compensation Gross
StockIssuedDuringPeriodValueShareBasedCompensationGross
4666182 usd
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
-3842337 usd
CY2021Q3 us-gaap Stockholders Equity
StockholdersEquity
8476364 usd
us-gaap Net Income Loss
NetIncomeLoss
-14495664 usd
us-gaap Net Income Loss
NetIncomeLoss
-15466585 usd
us-gaap Depreciation
Depreciation
2862 usd
us-gaap Depreciation
Depreciation
443 usd
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
1716744 usd
us-gaap Share Based Compensation
ShareBasedCompensation
2233608 usd
us-gaap Share Based Compensation
ShareBasedCompensation
13892884 usd
BTCS Stockbased Compensation In Connection With Issuances Of Series C Two Convertible Preferred Stock
StockbasedCompensationInConnectionWithIssuancesOfSeriesCTwoConvertiblePreferredStock
179277 usd
BTCS Validator Revenue
ValidatorRevenue
1421560 usd
BTCS Validator Revenue
ValidatorRevenue
776399 usd
BTCS Blockchain Network Fees
BlockchainNetworkFees
1321 usd
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-1140000 usd
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-2066250 usd
BTCS Purchase Of Nonproductive Digital Assetscurrencies
PurchaseOfNonproductiveDigitalAssetscurrencies
5761550 usd
BTCS Sale Of Nonproductive Digital Assetcurrencies
SaleOfNonproductiveDigitalAssetcurrencies
2547322 usd
BTCS Sale Of Nonproductive Digital Assetcurrencies
SaleOfNonproductiveDigitalAssetcurrencies
4274491 usd
BTCS Realized Gain On Digital Assets Currencies Transactions
RealizedGainOnDigitalAssetsCurrenciesTransactions
489682 usd
BTCS Realized Gain On Digital Assets Currencies Transactions
RealizedGainOnDigitalAssetsCurrenciesTransactions
3054418 usd
us-gaap Other Asset Impairment Charges
OtherAssetImpairmentCharges
12347472 usd
us-gaap Other Asset Impairment Charges
OtherAssetImpairmentCharges
3777785 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-117473 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
440514 usd
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-37842 usd
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
168546 usd
us-gaap Increase Decrease In Accrued Salaries
IncreaseDecreaseInAccruedSalaries
205237 usd
us-gaap Increase Decrease In Accrued Salaries
IncreaseDecreaseInAccruedSalaries
-348875 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-129453 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-3904421 usd
BTCS Purchase Of Productive Digital Assetscurrencies For Validating
PurchaseOfProductiveDigitalAssetscurrenciesForValidating
9274055 usd
BTCS Purchase Of Productive Digital Assetscurrencies For Validating
PurchaseOfProductiveDigitalAssetscurrenciesForValidating
9462279 usd
BTCS Sale Of Productive Digital Assetscurrencies
SaleOfProductiveDigitalAssetscurrencies
432716 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
5408 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
4543 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-8846747 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-9466822 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 Common Stock Atthemarket Offering
NetProceedsFromIssuanceCommonStockAtthemarketOffering
-219746 usd
us-gaap Repayments Of Convertible Debt
RepaymentsOfConvertibleDebt
1092712 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
3014005 usd
BTCS Net Proceeds From Issuance Common Stock Atthemarket Offering
NetProceedsFromIssuanceCommonStockAtthemarketOffering
-11095132 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
10464331 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
13506039 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
1488131 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
134796 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
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
2888998 usd
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
658931 usd
BTCS Deemed Dividends Related To Amortization Of Beneficial Conversion Feature Of Series C Two Convertible Preferred Stock
DeemedDividendsRelatedToAmortizationOfBeneficialConversionFeatureOfSeriesCTwoConvertiblePreferredStock
45541 usd
BTCS Deemed Dividends Related To Recognition Of Downround Adjustment To Conversion Amount For Series C Two Convertible Preferred Stock
DeemedDividendsRelatedToRecognitionOfDownroundAdjustmentToConversionAmountForSeriesCTwoConvertiblePreferredStock
5020883 usd
BTCS Conversion Of Series C One Preferred Stock
ConversionOfSeriesCOnePreferredStock
20 usd
BTCS Conversion Of Series C Two Preferred Stock
ConversionOfSeriesCTwoPreferredStock
6216289 usd
BTCS Beneficial Conversion Feature Of Series C Two Convertible Preferred Stock
BeneficialConversionFeatureOfSeriesCTwoConvertiblePreferredStock
-129412 usd
BTCS Beneficial Conversion Features Associated With Convertible Notes Payable
BeneficialConversionFeaturesAssociatedWithConvertibleNotesPayable
1000000 usd
CY2022Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
97500000 shares
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p id="xdx_84A_eus-gaap--PriorPeriodReclassificationAdjustmentDescription_z9KonMKNvmCk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span id="xdx_86E_zhqPQm1DHjKi">Reclassifications</span></i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; 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; 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; 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_zBjSCgnAzeB1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span id="xdx_86F_zSM2H0iHusBk">Concentration of Cash</span></i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; 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; 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 nine months or less when purchased to be cash and cash equivalents. As of September 30, 2022 and December 31, 2021, the Company had approximately $<span id="xdx_905_eus-gaap--CashAndCashEquivalentsAtCarryingValue_iI_pn5n6_c20220930_zXdsak09gfz1" title="Cash and cash equivalents">2.9</span> million and $<span id="xdx_90F_eus-gaap--CashAndCashEquivalentsAtCarryingValue_iI_pn5n6_c20211231_zjR9nUnM5bFj" 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; 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; 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_907_eus-gaap--CashFDICInsuredAmount_iI_pp0p0_c20220930__srt--RangeAxis__srt--MaximumMember_zA67Mpmu5o61" title="Cash, FDIC insured amount">250,000</span>. As of September 30, 2022 and December 31, 2021, the Company had approximately $<span id="xdx_908_eus-gaap--CashFDICInsuredAmount_iI_pn5n6_c20220930_zhVEzZyyp1l8" title="Cash, FDIC insured amount">2.5 </span>million and $<span id="xdx_904_eus-gaap--CashFDICInsuredAmount_iI_pn5n6_c20211231_zFvYBkmKBn2e" 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; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2022Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
2900000 usd
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1400000 usd
CY2022Q3 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
2500000 usd
CY2021Q4 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
900000 usd
us-gaap Impairment Losses Related To Real Estate Partnerships
ImpairmentLossesRelatedToRealEstatePartnerships
12300000 usd
us-gaap Impairment Losses Related To Real Estate Partnerships
ImpairmentLossesRelatedToRealEstatePartnerships
3800000 usd
us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
490000 usd
us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
3100000 usd
us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_846_eus-gaap--UseOfEstimates_zpaDdRzfFPil" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span id="xdx_86A_zHWgO3Z4zdlf">Use of Estimates</span></i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; 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; 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; 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
us-gaap Payments Of Dividends
PaymentsOfDividends
635000 usd
us-gaap Payments Of Dividends
PaymentsOfDividends
0 usd
us-gaap Advertising Expense
AdvertisingExpense
74000 usd
us-gaap Advertising Expense
AdvertisingExpense
10000 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
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3843187 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1248252 shares
CY2022Q3 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
712500 usd
CY2021Q4 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
1852500 usd
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
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
50000 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
1.51
BTCS Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term Grants In Period
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTermGrantsInPeriod
P4Y9M18D
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1285000 shares
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
2.11
BTCS Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm
P3Y7M6D
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
1229750 shares
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice
2.10
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1
P3Y6M
CY2022Q1 us-gaap Stock Issued During Period Shares Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures
1521296 shares
CY2022Q3 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
CY2022Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Equity Instruments Other Than Options Aggregate Intrinsic Value Nonvested
SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueNonvested
5600 usd
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
79620 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
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
1612350 shares
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
3.35
CY2022Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
481284 usd
CY2021Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4741181 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2377199 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
13744967 usd
CY2022Q3 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
212571 usd
CY2021Q4 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
7334 usd
CY2022Q3 us-gaap Accounts Payable Current
AccountsPayableCurrent
100875 usd
CY2021Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
138372 usd
CY2022Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
3757 usd
CY2021Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
343 usd
CY2022Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
317203 usd
CY2021Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
146050 usd
CY2022Q3 us-gaap Accrued Bonuses Current And Noncurrent
AccruedBonusesCurrentAndNoncurrent
209000 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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0001493152-22-031401.txt Edgar Link pending
0001493152-22-031401-xbrl.zip Edgar Link pending
btcs-20220930.xsd Edgar Link pending
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Financial_Report.xlsx Edgar Link pending
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