2023 Q1 Form 10-K Financial Statement

#000149315223010331 Filed on March 31, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022
Revenue $311.5K $270.9K $1.692M
YoY Change -44.67% -38.0% 39.49%
Cost Of Revenue $82.01K $112.5K $426.4K
YoY Change -40.51% -8.12% 58.91%
Gross Profit $229.5K $158.4K $1.266M
YoY Change -46.02% -49.62% 33.98%
Gross Profit Margin 73.67% 58.48% 74.8%
Selling, General & Admin $616.1K $906.7K $1.994M
YoY Change -70.88% -62.31% -88.51%
% of Gross Profit 268.45% 572.36% 157.53%
Research & Development $201.6K $163.2K $611.8K
YoY Change 47.47% 47.59% -14.17%
% of Gross Profit 87.86% 103.0% 48.32%
Depreciation & Amortization $1.153K $1.180K $4.039K
YoY Change 44.13% 136.0% 329.68%
% of Gross Profit 0.5% 0.74% 0.32%
Operating Expenses $1.358M $1.070M $18.76M
YoY Change -39.72% -57.48% 3.85%
Operating Profit -$1.128M -$911.5K -$17.50M
YoY Change -38.26% -58.6% 2.18%
Interest Expense -$268.2K $515.8K $2.146M
YoY Change -52.96% -69.42% -56.38%
% of Operating Profit
Other Income/Expense, Net -$285.0K $0.00 $1.603M
YoY Change 699.89% -100.0% -13.99%
Pretax Income -$1.413M -$1.397M -$15.89M
YoY Change -75.38% 139.63% -0.98%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$1.413M -$1.397M -$15.89M
YoY Change -75.38% 139.63% -0.98%
Net Earnings / Revenue -453.72% -515.73% -939.04%
Basic Earnings Per Share -$0.10 -$1.25
Diluted Earnings Per Share -$0.10 -$0.11 -$1.25
COMMON SHARES
Basic Shares Outstanding 13.77M shares 13.08M shares 12.73M shares
Diluted Shares Outstanding 17.19M shares 12.73M shares

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.543M $2.247M $2.247M
YoY Change -68.27% -50.27% -50.27%
Cash & Equivalents $1.400M $2.100M
Short-Term Investments $100.0K $100.0K $100.0K
Other Short-Term Assets $7.949M $1.951M $1.951M
YoY Change 14.92% 105.74% 105.74%
Inventory
Prepaid Expenses $93.45K $123.7K
Receivables
Other Receivables
Total Short-Term Assets $9.492M $4.198M $4.198M
YoY Change -19.42% -23.21% -23.21%
LONG-TERM ASSETS
Property, Plant & Equipment $9.999K $11.15K $11.15K
YoY Change -13.35% 13.99% 14.01%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $0.00 $5.709M $5.709M
YoY Change -100.0% -33.82% -33.82%
Total Long-Term Assets $9.999K $5.720M $5.720M
YoY Change -99.89% -33.76% -33.76%
TOTAL ASSETS
Total Short-Term Assets $9.492M $4.198M $4.198M
Total Long-Term Assets $9.999K $5.720M $5.720M
Total Assets $9.502M $9.918M $9.918M
YoY Change -53.59% -29.67% -29.67%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $41.95K $76.73K $76.73K
YoY Change -59.03% -44.69% -44.69%
Accrued Expenses $45.38K $372.7K $295.9K
YoY Change 1313.8% 155.16% 3937.38%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $544.1K $586.4K $586.4K
YoY Change -81.52% -70.66% -70.66%
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 $544.1K $586.4K $586.4K
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $544.1K $586.4K $586.4K
YoY Change -81.52% -70.66% -70.66%
SHAREHOLDERS EQUITY
Retained Earnings -$152.9M -$151.5M
YoY Change 11.72%
Common Stock $161.9M $160.8M
YoY Change 8.88%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $8.958M $9.331M $9.331M
YoY Change
Total Liabilities & Shareholders Equity $9.502M $9.918M $9.918M
YoY Change -53.59% -29.67% -29.67%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income -$1.413M -$1.397M -$15.89M
YoY Change -75.38% 139.63% -0.98%
Depreciation, Depletion And Amortization $1.153K $1.180K $4.039K
YoY Change 44.13% 136.0% 329.68%
Cash From Operating Activities -$1.126M -$647.3K -$776.8K
YoY Change 6.71% -32.38% -84.02%
INVESTING ACTIVITIES
Capital Expenditures $179.0K $5.408K
YoY Change -3107.9% -100.06%
Acquisitions
YoY Change
Other Investing Activities $47.54K $52.88K $485.6K
YoY Change -84.67%
Cash From Investing Activities -$86.48K -$126.1K -$8.973M
YoY Change -98.95% 2019.16% -5.28%
FINANCING ACTIVITIES
Cash Dividend Paid $0.00 $631.0K
YoY Change -100.0%
Common Stock Issuance & Retirement, Net $0.00
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $508.8K 31.20K $10.50M
YoY Change -94.97% -98.17% -31.0%
NET CHANGE
Cash From Operating Activities -$1.126M -647.3K -$776.8K
Cash From Investing Activities -$86.48K -126.1K -$8.973M
Cash From Financing Activities $508.8K 31.20K $10.50M
Net Change In Cash -$703.7K -742.2K $745.9K
YoY Change -183.36% -200.04% -14.92%
FREE CASH FLOW
Cash From Operating Activities -$1.126M -$647.3K -$776.8K
Capital Expenditures $179.0K $5.408K
Free Cash Flow -$1.126M -$826.3K -$782.2K
YoY Change -115.08% -13.14% -116.96%

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2832152 usd
CY2021 BTCS Issuance Of Common Stock And Warrants For Cash Net
IssuanceOfCommonStockAndWarrantsForCashNet
8865000 usd
CY2021 BTCS Warrant Liabilities Value Related To Issuance Of Common Stock
WarrantLiabilitiesValueRelatedToIssuanceOfCommonStock
-5771250 usd
CY2021 BTCS Issuance Of Series C Two Convertible Preferred Stock
IssuanceOfSeriesCTwoConvertiblePreferredStock
1100000 usd
CY2021 us-gaap Adjustments To Additional Paid In Capital Convertible Debt With Conversion Feature
AdjustmentsToAdditionalPaidInCapitalConvertibleDebtWithConversionFeature
1000000 usd
CY2021 BTCS Warrant Exercise
WarrantExercise
400000 usd
CY2021 us-gaap Stock Issued During Period Value Share Based Compensation Gross
StockIssuedDuringPeriodValueShareBasedCompensationGross
15490555 usd
CY2021 BTCS Stockbased Compensation In Connection With Issuance Of Series C Two Convertible Preferred Stock
StockbasedCompensationInConnectionWithIssuanceOfSeriesCTwoConvertiblePreferredStock
179277 usd
CY2021 us-gaap Net Income Loss
NetIncomeLoss
-16049583 usd
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
12103443 usd
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
12103443 usd
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
12103443 usd
CY2022 BTCS Issuance Of Common Stock Net Of Offering Cost Atthemarket Offering
IssuanceOfCommonStockNetOfOfferingCostAtthemarketOffering
11126331 usd
CY2022 us-gaap Stock Issued During Period Value Share Based Compensation Gross
StockIssuedDuringPeriodValueShareBasedCompensationGross
2625270 usd
CY2022 us-gaap Adjustments To Additional Paid In Capital Other
AdjustmentsToAdditionalPaidInCapitalOther
-631143 usd
CY2022 us-gaap Net Income Loss
NetIncomeLoss
-15892738 usd
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
9331163 usd
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
9331163 usd
CY2022 us-gaap Net Income Loss
NetIncomeLoss
-15892738 usd
CY2021 us-gaap Net Income Loss
NetIncomeLoss
-16049583 usd
CY2022 us-gaap Depreciation
Depreciation
4039 usd
CY2021 us-gaap Depreciation
Depreciation
939 usd
CY2021 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
1868059 usd
CY2022 us-gaap Share Based Compensation
ShareBasedCompensation
2625270 usd
CY2021 us-gaap Share Based Compensation
ShareBasedCompensation
15490555 usd
CY2021 BTCS Stockbased Compensation In Connection With Issuances Of Series C Two Convertible Preferred Stock
StockbasedCompensationInConnectionWithIssuancesOfSeriesCTwoConvertiblePreferredStock
179277 usd
CY2022 BTCS Validator Revenue
ValidatorRevenue
1692454 usd
CY2021 BTCS Validator Revenue
ValidatorRevenue
1213284 usd
CY2022 BTCS Blockchain Network Fees
BlockchainNetworkFees
1321 usd
CY2022 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-1638750 usd
CY2021 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-3918750 usd
CY2021 BTCS Purchase Of Nonproductive Crypto Assets
PurchaseOfNonproductiveCryptoAssets
5761550 usd
CY2022 BTCS Sale Of Nonproductive Crypto Assets
SaleOfNonproductiveCryptoAssets
2547325 usd
CY2021 BTCS Sale Of Nonproductive Crypto Assets
SaleOfNonproductiveCryptoAssets
4274491 usd
CY2022 BTCS Realized Gain On Crypto Assets Transactions
RealizedGainOnCryptoAssetsTransactions
506757 usd
CY2021 BTCS Realized Gain On Crypto Assets Transactions
RealizedGainOnCryptoAssetsTransactions
3054418 usd
CY2022 us-gaap Other Asset Impairment Charges
OtherAssetImpairmentCharges
13348874 usd
CY2021 us-gaap Other Asset Impairment Charges
OtherAssetImpairmentCharges
3845899 usd
CY2022 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-200824 usd
CY2021 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
292676 usd
CY2022 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-62332 usd
CY2021 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
112428 usd
CY2022 us-gaap Increase Decrease In Accrued Salaries
IncreaseDecreaseInAccruedSalaries
288601 usd
CY2021 us-gaap Increase Decrease In Accrued Salaries
IncreaseDecreaseInAccruedSalaries
-343042 usd
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-776777 usd
CY2021 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-4861655 usd
CY2022 BTCS Purchase Of Productive Crypto Assets For Validating
PurchaseOfProductiveCryptoAssetsForValidating
9453024 usd
CY2021 BTCS Purchase Of Productive Crypto Assets For Validating
PurchaseOfProductiveCryptoAssetsForValidating
9462279 usd
CY2022 BTCS Proceeds From Sale Of Crypto Assets
ProceedsFromSaleOfCryptoAssets
585595 usd
CY2022 us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
100000 usd
CY2022 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
5408 usd
CY2021 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
10491 usd
CY2022 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-8972837 usd
CY2021 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-9472770 usd
CY2022 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
630801 usd
CY2021 us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
400000 usd
CY2021 us-gaap Proceeds From Issuance Of Convertible Preferred Stock
ProceedsFromIssuanceOfConvertiblePreferredStock
1100000 usd
CY2021 us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
1000000 usd
CY2021 BTCS Net Proceeds From Issuance Of Common Stock And Warrants For Cash
NetProceedsFromIssuanceOfCommonStockAndWarrantsForCash
8865000 usd
CY2021 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
3014005 usd
CY2022 BTCS Net Proceeds From Issuance Common Stock Atthemarket Offering
NetProceedsFromIssuanceCommonStockAtthemarketOffering
-11126331 usd
CY2021 BTCS Net Proceeds From Issuance Common Stock Atthemarket Offering
NetProceedsFromIssuanceCommonStockAtthemarketOffering
-2832152 usd
CY2021 us-gaap Repayments Of Convertible Debt
RepaymentsOfConvertibleDebt
2000000 usd
CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
10495530 usd
CY2021 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
15211157 usd
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
745916 usd
CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
876732 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
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
2146783 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
1400867 usd
CY2021 BTCS Deemed Dividends Related To Amortization Of Beneficial Conversion Feature Of Series C Two Convertible Preferred Stock
DeemedDividendsRelatedToAmortizationOfBeneficialConversionFeatureOfSeriesCTwoConvertiblePreferredStock
45541 usd
CY2021 BTCS Deemed Dividends Related To Recognition Of Downround Adjustment To Conversion Amount For Series C Two Convertible Preferred Stock
DeemedDividendsRelatedToRecognitionOfDownroundAdjustmentToConversionAmountForSeriesCTwoConvertiblePreferredStock
5020883 usd
CY2021 BTCS Conversion Of Series C One Preferred Stock
ConversionOfSeriesCOnePreferredStock
20 usd
CY2021 BTCS Conversion Of Series C Two Preferred Stock
ConversionOfSeriesCTwoPreferredStock
6216289 usd
CY2021 BTCS Beneficial Conversion Feature Of Series C Two Convertible Preferred Stock
BeneficialConversionFeatureOfSeriesCTwoConvertiblePreferredStock
-129412 usd
CY2021 BTCS Beneficial Conversion Features Associated With Convertible Notes Payable
BeneficialConversionFeaturesAssociatedWithConvertibleNotesPayable
1000000 usd
CY2022Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
97500000 shares
CY2022 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p id="xdx_84C_eus-gaap--PriorPeriodReclassificationAdjustmentDescription_z7iAatPhe2D6" 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_869_zaXfAYFxfqVj">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"><i> </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">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>
CY2022 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p id="xdx_84C_eus-gaap--ConcentrationRiskCreditRisk_z7FkLXgLw6yl" 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_867_zcNEOlVClC83">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 four 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 December 31, 2022 and 2021, the Company had approximately $<span id="xdx_90D_eus-gaap--CashAndCashEquivalentsAtCarryingValue_iI_pn5n6_c20221231_z0RVFk9tSjBb" title="Cash and cash equivalents">2.1</span> million and $<span id="xdx_906_eus-gaap--CashAndCashEquivalentsAtCarryingValue_iI_pn5n6_c20211231_zHS8befoteY1" 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_909_eus-gaap--CashFDICInsuredAmount_iI_pp0p0_c20221231__srt--RangeAxis__srt--MaximumMember_zsPE7phxpeUe" title="Cash, FDIC insured amount">250,000</span>. As of December 31, 2022 and 2021, the Company had approximately $<span id="xdx_902_eus-gaap--CashFDICInsuredAmount_iI_pn5n6_c20221231_zzSNM2mbnpd9" title="Cash, FDIC insured amount">1.7</span> million and $<span id="xdx_900_eus-gaap--CashFDICInsuredAmount_iI_pn5n6_c20211231_zpoOjsNqKQ99" 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"><i> </i></span></p>
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
2100000 usd
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1400000 usd
CY2022Q4 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
1700000 usd
CY2021Q4 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
900000 usd
CY2022 us-gaap Impairment Losses Related To Real Estate Partnerships
ImpairmentLossesRelatedToRealEstatePartnerships
13300000 usd
CY2021 us-gaap Impairment Losses Related To Real Estate Partnerships
ImpairmentLossesRelatedToRealEstatePartnerships
3800000 usd
CY2022 us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
500000 usd
CY2021 us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
3100000 usd
CY2022 us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_849_eus-gaap--UseOfEstimates_zUCxCoZU1Ta3" 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_860_zjBz7pArWsal">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>
CY2022 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.
CY2022 us-gaap Payments Of Dividends
PaymentsOfDividends
631000 usd
CY2021 us-gaap Payments Of Dividends
PaymentsOfDividends
0 usd
CY2022 us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
78000 usd
CY2021 us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
180000 usd
CY2022 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3653053 shares
CY2021 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2227157 shares
CY2022Q4 us-gaap Short Term Investments
ShortTermInvestments
100000 usd
CY2022Q4 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
213750 usd
CY2021Q4 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
1852500 usd
CY2022 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Purchases
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPurchases
100000 usd
CY2022Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
100000 usd
CY2021Q4 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
1852500 usd
CY2021 BTCS Warrant Liabilities Classification
WarrantLiabilitiesClassification
5771250 usd
CY2022 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-1638750 usd
CY2021 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-3918750 usd
CY2022Q4 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
213750 usd
CY2021Q4 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
1852500 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
CY2021Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Accelerated Vesting Number
SharebasedCompensationArrangementBySharebasedPaymentAwardAcceleratedVestingNumber
14000 shares
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Accelerated Vesting Number
SharebasedCompensationArrangementBySharebasedPaymentAwardAcceleratedVestingNumber
21000 shares
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
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P4Y
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
50000 shares
CY2022 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
1.51
CY2022 BTCS Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term Grants In Period
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTermGrantsInPeriod
P1Y4M24D
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
100000 shares
CY2022 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
1.90
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
35000 shares
CY2022 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
1.50
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1150000 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
2.15
CY2022 BTCS Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm
P3Y3M18D
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
1135000 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice
2.16
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1
P3Y3M18D
CY2021Q4 us-gaap Stock Issued During Period Shares Restricted Stock Award Gross
StockIssuedDuringPeriodSharesRestrictedStockAwardGross
275000 shares
CY2021Q4 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
2800000 usd
CY2022Q1 us-gaap Stock Issued During Period Shares Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures
1521296 shares
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
372662 usd
CY2021Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
1920547 usd
CY2022Q4 us-gaap Accrued Bonuses Current And Noncurrent
AccruedBonusesCurrentAndNoncurrent
284000 usd
CY2021Q4 us-gaap Accrued Bonuses Current And Noncurrent
AccruedBonusesCurrentAndNoncurrent
284000 usd
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice
19.39
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
1.037 pure
CY2022 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
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
1670569 shares
CY2022 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
3.28
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
109379 shares
CY2022 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
2.29
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
1590553 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
3.39
CY2022 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2791851 usd
CY2021 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
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CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
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CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Granted
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted
200000 shares
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Exercised
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised
200000 shares
CY2021 BTCS Issuance Of Warrants Pursuant To Registered Direct Offering
IssuanceOfWarrantsPursuantToRegisteredDirectOffering
712500 shares
CY2021 BTCS Fractional Shares Adjusted For Reverse Split Shares
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-29 shares
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
962794 shares
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Expirations
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExpirations
50294 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
912500 shares
CY2022Q4 us-gaap Compensation Expense Excluding Cost Of Good And Service Sold
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278498 usd
CY2022 us-gaap Employee Benefits And Share Based Compensation
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CY2022Q4 us-gaap Accrued Employee Benefits Current
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CY2022Q4 us-gaap Accounts Payable Current
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CY2021Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
51191 usd
CY2021Q4 us-gaap Other Accrued Liabilities Current
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1860177 usd
CY2022 us-gaap Defined Contribution Plan Maximum Annual Contributions Per Employee Percent
DefinedContributionPlanMaximumAnnualContributionsPerEmployeePercent
1 pure
CY2022 us-gaap Defined Contribution Plan Maximum Annual Contributions Per Employee Amount
DefinedContributionPlanMaximumAnnualContributionsPerEmployeeAmount
45000 usd
CY2021 us-gaap Defined Contribution Plan Maximum Annual Contributions Per Employee Amount
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39000 usd
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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2100000 usd
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards Domestic
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CY2021Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards Domestic
DeferredTaxAssetsOperatingLossCarryforwardsDomestic
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CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards State And Local
DeferredTaxAssetsOperatingLossCarryforwardsStateAndLocal
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CY2022Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
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CY2021Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
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CY2022Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
3363555 usd
CY2021Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
2497578 usd
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
3363555 usd
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
2497578 usd
CY2022 BTCS Operating Loss Carryforwards Expiration Date1
OperatingLossCarryforwardsExpirationDate1
expire in 2034
CY2022 us-gaap Income Tax Examination Description
IncomeTaxExaminationDescription
The 20-year carryforward period has been replaced with an indefinite carryforward period for these NOLs generated in tax years beginning after December 31, 2017 and future years
CY2022 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
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900000 usd
CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210 pure
CY2021 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
-0.0672 pure
CY2021 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
-0.065 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
0.000 pure
CY2021 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
0.000 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation Other Reconciling Items Percent
EffectiveIncomeTaxRateReconciliationOtherReconcilingItemsPercent
0.2772 pure
CY2021 us-gaap Effective Income Tax Rate Reconciliation Other Reconciling Items Percent
EffectiveIncomeTaxRateReconciliationOtherReconcilingItemsPercent
0.275 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.000 pure
CY2021 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.000 pure

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0001493152-23-010331-index.html Edgar Link pending
0001493152-23-010331.txt Edgar Link pending
0001493152-23-010331-xbrl.zip Edgar Link pending
btcs-20221231.xsd Edgar Link pending
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btcs-20221231_pre.xml Edgar Link unprocessable
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