2023 Q4 Form 10-K Financial Statement

#000121390024032825 Filed on April 15, 2024

View on sec.gov

Income Statement

Concept 2023 Q4 2023 2022 Q4
Revenue $1.789M $9.073M $81.60M
YoY Change -97.81% -23.31% -37.14%
Cost Of Revenue $2.814M $10.21M $69.41M
YoY Change -95.95% 1.44% -18.83%
Gross Profit -$1.025M -$1.135M $12.19M
YoY Change -108.41% -164.2% -72.48%
Gross Profit Margin -57.29% -12.51% 14.94%
Selling, General & Admin $492.0K $1.346M $4.971M
YoY Change -90.1% -72.92% -93.16%
% of Gross Profit 40.77%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.477M $3.151M $12.12M
YoY Change -87.81% -74.85% -27.94%
% of Gross Profit 99.4%
Operating Expenses $492.0K $1.346M $4.971M
YoY Change -90.1% -72.92% -93.81%
Operating Profit -$1.517M -$2.481M $7.223M
YoY Change -121.0% -336.96% -120.04%
Interest Expense $133.0K $63.00K $1.327M
YoY Change -89.98% 215.0% -111.22%
% of Operating Profit 18.37%
Other Income/Expense, Net -$325.0K -$327.0K
YoY Change -1267.86%
Pretax Income -$1.709M -$2.824M $6.670M
YoY Change -125.62% -392.04% -110.3%
Income Tax $0.00 $0.00
% Of Pretax Income 0.0%
Net Earnings -$1.709M -$2.824M $53.01M
YoY Change -103.22% -150.1% -211.44%
Net Earnings / Revenue -95.53% -31.13% 64.97%
Basic Earnings Per Share
Diluted Earnings Per Share -$0.97 -$1.89 $3.88
COMMON SHARES
Basic Shares Outstanding 2.098M shares 1.494M shares 20.88M shares
Diluted Shares Outstanding 1.494M shares

Balance Sheet

Concept 2023 Q4 2023 2022 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $43.00K $333.0K
YoY Change -87.09% -99.8%
Cash & Equivalents $43.00K $48.00K
Short-Term Investments
Other Short-Term Assets $436.0K $8.221M
YoY Change -94.7% -93.78%
Inventory
Prepaid Expenses $2.285M $3.237M
Receivables $5.485M $8.902M
Other Receivables $0.00 $0.00
Total Short-Term Assets $8.944M $14.06M
YoY Change -36.37% -96.39%
LONG-TERM ASSETS
Property, Plant & Equipment $12.70M $13.40M
YoY Change -5.23% -93.0%
Goodwill $193.0M
YoY Change 0.0%
Intangibles
YoY Change
Long-Term Investments $2.897M $2.885M
YoY Change 0.42% -88.18%
Other Assets $16.39M
YoY Change -73.17%
Total Long-Term Assets $15.60M $16.29M
YoY Change -4.23% -96.71%
TOTAL ASSETS
Total Short-Term Assets $8.944M $14.06M
Total Long-Term Assets $15.60M $16.29M
Total Assets $24.54M $30.34M
YoY Change -19.12% -96.57%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $128.0K $3.455M
YoY Change -96.3% -78.63%
Accrued Expenses
YoY Change
Deferred Revenue $792.0K
YoY Change
Short-Term Debt $125.0K $5.998M
YoY Change -97.92% -0.03%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $5.101M $11.06M
YoY Change -53.9% -98.45%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $0.00
YoY Change -100.0%
Total Long-Term Liabilities $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $5.101M $11.06M
Total Long-Term Liabilities $0.00
Total Liabilities $5.101M $11.06M
YoY Change -53.9% -98.72%
SHAREHOLDERS EQUITY
Retained Earnings -$186.6M -$183.8M
YoY Change 1.54% -86.08%
Common Stock $206.0M $63.00K
YoY Change 326949.21% -70.97%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $19.44M $19.28M
YoY Change
Total Liabilities & Shareholders Equity $24.54M $30.34M
YoY Change -19.12% -96.57%

Cashflow Statement

Concept 2023 Q4 2023 2022 Q4
OPERATING ACTIVITIES
Net Income -$1.709M -$2.824M $53.01M
YoY Change -103.22% -150.1% -211.44%
Depreciation, Depletion And Amortization $1.477M $3.151M $12.12M
YoY Change -87.81% -74.85% -27.94%
Cash From Operating Activities $1.397M $3.808M -$78.92M
YoY Change -101.77% -112.27% -74.23%
INVESTING ACTIVITIES
Capital Expenditures $674.0K $2.501M -$2.263M
YoY Change -129.78% -71.82% -96.84%
Acquisitions
YoY Change
Other Investing Activities -$2.119M -$2.119M -$15.27M
YoY Change -86.12% -104.71% 17248.86%
Cash From Investing Activities -$2.793M -$4.620M -$13.00M
YoY Change -78.52% 96.1% -81.84%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $1.552M
YoY Change -75.97%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.224M $807.0K 65.81M
YoY Change -98.14% -89.59% -83.66%
NET CHANGE
Cash From Operating Activities 1.397M $3.808M -78.92M
Cash From Investing Activities -2.793M -$4.620M -13.00M
Cash From Financing Activities 1.224M $807.0K 65.81M
Net Change In Cash -172.0K -$5.000K -26.12M
YoY Change -99.34% -99.98% -205.12%
FREE CASH FLOW
Cash From Operating Activities $1.397M $3.808M -$78.92M
Capital Expenditures $674.0K $2.501M -$2.263M
Free Cash Flow $723.0K $1.307M -$76.66M
YoY Change -100.94% -103.27% -67.35%

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ProceedsFromSaleOfPropertyPlantAndEquipment
10605000 usd
CY2023 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
564000 usd
CY2022 us-gaap Payments To Acquire Notes Receivable
PaymentsToAcquireNotesReceivable
194000 usd
CY2023 us-gaap Payments To Acquire Notes Receivable
PaymentsToAcquireNotesReceivable
2683000 usd
CY2022 us-gaap Repayment Of Notes Receivable From Related Parties
RepaymentOfNotesReceivableFromRelatedParties
441000 usd
CY2022 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-2356000 usd
CY2023 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-4620000 usd
CY2022 us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
4063000 usd
CY2022 us-gaap Proceeds From Repayments Of Related Party Debt
ProceedsFromRepaymentsOfRelatedPartyDebt
-2770000 usd
CY2022 us-gaap Proceeds From Short Term Debt
ProceedsFromShortTermDebt
1041000 usd
CY2023 us-gaap Proceeds From Short Term Debt
ProceedsFromShortTermDebt
182000 usd
CY2022 us-gaap Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
1041000 usd
CY2023 us-gaap Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
927000 usd
CY2022 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
6459000 usd
CY2023 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
1552000 usd
CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
7752000 usd
CY2023 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
807000 usd
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-25650000 usd
CY2023 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-5000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
25698000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
48000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
48000 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
43000 usd
CY2022 us-gaap Interest Paid Net
InterestPaidNet
23000 usd
CY2023 us-gaap Interest Paid Net
InterestPaidNet
63000 usd
CY2022 us-gaap Income Taxes Paid
IncomeTaxesPaid
104000 usd
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
48000 usd
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
43000 usd
CY2023 us-gaap Related Party Transaction Terms And Manner Of Settlement
RelatedPartyTransactionTermsAndMannerOfSettlement
The transaction is not a business combination because EdtechX was not a business. The transaction is accounted for as a reverse recapitalization, which is equivalent to the issuance of shares by Meten International for the net monetary assets of EdtechX, accompanied by a recapitalization. Meten International is determined as the predecessor and the historical financial statements of Meten International became the Company’s historical financial statements, with retrospective adjustments to give effect of the reverse recapitalization. The equity is restated using the exchange ratio of 0.1519 established in the reverse recapitalization transaction, which is 48,391,607 divided by 318,601,222, to reflect the equity structure of the Company. Loss (income) per share is retrospectively restated using the historical weighted-average number of ordinary shares outstanding multiplied by the exchange ratio. The share and per share data is retrospectively restated using the exchange ratio in the share-based compensation footnote, see Note 12.
CY2023 btct Merger Agreement Description
MergerAgreementDescription
In connection with merger transaction, on February 28, 2020, March 19, 2020 and March 26, 2020, three unrelated investors agreed to invest USD6,000, USD4,000 and USD6,000 to purchase shares of the Company. The financing of the USD12,000 was completed on March 30, 2020, and the USD4,000 financing was terminated on April 14, 2020 as the investor failed to pay the purchase price by the agreed deadline.
CY2017Q4 us-gaap Stock Or Units Available For Distributions
StockOrUnitsAvailableForDistributions
30000000 shares
CY2017Q4 us-gaap Stock Issued1
StockIssued1
1000 cny
CY2023 us-gaap Distribution Made To Limited Partner Cash Distributions Paid
DistributionMadeToLimitedPartnerCashDistributionsPaid
148270000 cny
CY2023 us-gaap Use Of Estimates
UseOfEstimates
<table cellpadding="0" cellspacing="0" style="font: italic bold 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(a)</i></b></span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Use of estimates</i></b></span></td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of the Company’s consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the balance sheet date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant items subject to such estimates and assumptions include, but are not limited to, estimate of standalone selling prices of each unit of accounting in multiple elements arrangements, estimate of breakage, the fair value of identifiable assets acquired, liabilities assumed and non-controlling interests in business combinations, the useful lives of long-lived assets including intangible assets, the fair value of the reporting unit for the goodwill impairment test, the allowance for doubtful accounts receivable and other receivables, the realization of deferred tax assets, the fair value of share-based compensation awards, lease liabilities, right-of-use assets and the recoverability of long-lived assets. Changes in facts and circumstances may result in revised estimates. Actual results could differ from those estimates, and as such, differences may be material to the consolidated financial statements.</span></p>
CY2023 btct Convenience Rate
ConvenienceRate
1 usd
CY2023 btct Convenience Rate
ConvenienceRate
6.8972 cny
CY2022Q4 us-gaap Accounts Receivable Gross
AccountsReceivableGross
8902000 usd
CY2023Q4 us-gaap Accounts Receivable Gross
AccountsReceivableGross
5485000 usd
CY2022Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
8902000 usd
CY2023Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
5485000 usd
CY2022Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
3237000 usd
CY2023Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
2285000 usd
CY2022Q4 us-gaap Deposit Assets
DepositAssets
766000 usd
CY2023Q4 us-gaap Deposit Assets
DepositAssets
328000 usd
CY2022Q4 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
1012000 usd
CY2023Q4 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
367000 usd
CY2022Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
5015000 usd
CY2023Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
2980000 usd
CY2022Q4 us-gaap Other Assets Current
OtherAssetsCurrent
91000 usd
CY2023Q4 us-gaap Other Assets Current
OtherAssetsCurrent
436000 usd
CY2022Q4 us-gaap Other Assets
OtherAssets
91000 usd
CY2022 btct Receipt Of Bitcoins From Mining Services
ReceiptOfBitcoinsFromMiningServices
2392000 usd
CY2023 btct Receipt Of Bitcoins From Mining Services
ReceiptOfBitcoinsFromMiningServices
2882000 usd
CY2022 btct Receipt Of Bitcoins From Hash Power Rental
ReceiptOfBitcoinsFromHashPowerRental
131000 usd
CY2022 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-2429000 usd
CY2023 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-2537000 usd
CY2022 us-gaap Asset Impairment Charges
AssetImpairmentCharges
3000 usd
CY2022Q4 us-gaap Other Assets
OtherAssets
91000 usd
CY2023Q4 us-gaap Other Assets
OtherAssets
436000 usd
CY2022 us-gaap Asset Impairment Charges
AssetImpairmentCharges
3000 usd
CY2022Q4 us-gaap Sale Of Stock Consideration Received On Transaction
SaleOfStockConsiderationReceivedOnTransaction
7120478000 cny
CY2022 us-gaap Equity Method Investment Deferred Gain On Sale
EquityMethodInvestmentDeferredGainOnSale
12000000 usd
CY2023 us-gaap Equity Method Investment Deferred Gain On Sale
EquityMethodInvestmentDeferredGainOnSale
12000000 usd
CY2022Q4 us-gaap Property Plant And Equipment Other
PropertyPlantAndEquipmentOther
15219000 usd
CY2023Q4 us-gaap Property Plant And Equipment Other
PropertyPlantAndEquipmentOther
17241000 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
15219000 usd
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
17241000 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1816000 usd
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
4539000 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
13403000 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
12702000 usd
CY2022 us-gaap Depreciation
Depreciation
1816000 usd
CY2023 us-gaap Depreciation
Depreciation
3151000 usd
CY2023 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
0.0825 pure
CY2022 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
5637000 usd
CY2023 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-2824000 usd
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
682779 shares
CY2023 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1494333 shares
CY2022 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
682779 shares
CY2023 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1494333 shares
CY2022 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
8.26
CY2023 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
-1.89
CY2022 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
8.26
CY2023 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
-1.89
CY2022 us-gaap Net Income Loss From Discontinued Operations Available To Common Shareholders Basic
NetIncomeLossFromDiscontinuedOperationsAvailableToCommonShareholdersBasic
4670000 usd
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
682779 shares
CY2023 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1494333 shares
CY2022 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
682779 shares
CY2023 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1494333 shares
CY2022 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
6.84
CY2022 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
6.84
CY2023Q4 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
11.5
CY2023 btct Warrants Outstanding Percentage
WarrantsOutstandingPercentage
0.555 pure
CY2023 btct Agent Fees
AgentFees
5730000 usd
CY2021Q1 btct Warrants To Purchase Ordinary Shares
WarrantsToPurchaseOrdinaryShares
336001 shares
CY2021Q1 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
2.5
CY2023 btct Share Based Compensation Description
ShareBasedCompensationDescription
The repurchase price is determined based on a number of factors, including but not limited to the original subscription price of the share units and the business performance of the Group.
CY2022Q4 us-gaap Excess Stock Shares Issued
ExcessStockSharesIssued
849000 shares
CY2023Q4 us-gaap Excess Stock Shares Issued
ExcessStockSharesIssued
138000 shares
CY2018Q3 btct Authorized Share Capital
AuthorizedShareCapital
380000 hkd
CY2018Q3 us-gaap Limited Partners Capital Account Units Authorized
LimitedPartnersCapitalAccountUnitsAuthorized
38000000 shares
CY2018Q3 us-gaap Share Price
SharePrice
0.01
CY2018Q4 us-gaap Shares Issued
SharesIssued
318601222 shares
CY2018Q4 us-gaap Share Price
SharePrice
0.0001
CY2018Q4 us-gaap Stock Repurchase Program Remaining Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased
47035 shares
CY2018Q4 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
0.01
CY2020Q1 us-gaap Conversion Of Stock Shares Issued1
ConversionOfStockSharesIssued1
48391607 shares
CY2020Q1 us-gaap Capital Units Total Cost To Investors
CapitalUnitsTotalCostToInvestors
6000 usd
CY2020Q1 us-gaap Capital Units Total Cost To Investors
CapitalUnitsTotalCostToInvestors
4000 usd
CY2020Q1 us-gaap Capital Units Total Cost To Investors
CapitalUnitsTotalCostToInvestors
6000 usd
CY2020Q1 us-gaap Capital Units Deductions From Total Cost To Investors
CapitalUnitsDeductionsFromTotalCostToInvestors
6000 usd
CY2020Q2 us-gaap Capital Units Deductions From Total Cost To Investors
CapitalUnitsDeductionsFromTotalCostToInvestors
4000 usd
CY2020Q2 us-gaap Shares Issued
SharesIssued
3050701 shares
CY2020Q2 us-gaap Shares Outstanding
SharesOutstanding
3050701 shares
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Percentage Of Outstanding Stock Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardPercentageOfOutstandingStockMaximum
0.01 pure
CY2023Q4 us-gaap Shares Issued
SharesIssued
531005 shares
CY2023 btct Additional Share Based Compensation Arrangement By Share Based Payment Award Percentage Of Outstanding Stock Maximum
AdditionalShareBasedCompensationArrangementByShareBasedPaymentAwardPercentageOfOutstandingStockMaximum
0.01 pure
CY2021Q1 us-gaap Shares Issued
SharesIssued
1327514 shares
CY2021Q3 us-gaap Shares Issued
SharesIssued
22500000 shares
CY2021Q3 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
0.3
CY2021Q4 us-gaap Shares Issued
SharesIssued
33333334 shares
CY2021Q4 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
0.6
CY2022Q3 us-gaap Shares Issued
SharesIssued
1470475 shares
CY2022Q3 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
0.3
CY2022Q4 us-gaap Shares Issued
SharesIssued
3532841 shares
CY2022Q4 us-gaap Common Unit Issuance Value
CommonUnitIssuanceValue
7120478000 cny
CY2023Q3 btct Gross Proceeds
GrossProceeds
1000000 usd
CY2023Q3 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
5
CY2023Q3 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
0.06
CY2022Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
1044009 shares
CY2022Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
1044009 shares
CY2023Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
2097535 shares
CY2023Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
2097535 shares
CY2020Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
12705000 shares
CY2023 us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
6192286.8 usd
CY2023 btct Warrants To Purchase Ordinary Shares
WarrantsToPurchaseOrdinaryShares
2629812 shares
CY2023 us-gaap Warrant Exercise Price Increase
WarrantExercisePriceIncrease
1.4
CY2023 btct Offering Description
OfferingDescription
the Company offered 22,500,000 ordinary shares, par value US$0.0001 per share at a purchase price of US$0.30 per share. The Company also offered 177,500,000 pre-funded warrants to purchase 177,500,000 ordinary shares, exercisable at an exercise price of $0.0001 per share (the “Pre-funded Warrants”, each a “Pre-funded Warrant”), to those purchasers whose purchase of ordinary shares in the offering would otherwise result in the purchaser, together with its affiliates and certain related parties, beneficially owning more than 4.99% (or, at the election of the holder, 9.99%) of the Company’s outstanding ordinary shares immediately following the consummation of the offering. The purchase price of each Pre-funded Warrant is $0.2999, which equals the price per ordinary share being sold to the public in that offering, minus $0.0001. The Pre-funded Warrants became immediately exercisable upon issuance and may be exercised at any time until all of the Pre-funded Warrants are exercised in full.
CY2023 us-gaap Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
the Company became exercisable for 1/30 ordinary share of the Company, and the exercise price of Company’s outstanding warrants was increased to US$9.00, adjusted from $0.30 prior to the Reverse Split and representing the temporarily reduced price based on the Company’s Tender Offer Statement on Schedule TO, as amended and supplemented, originally filed by the Company with the U.S. Securities and Exchange Commission on December 7, 2020 (the “Tender Offer”). Based on the terms of the Tender Offer, following the date on which the closing price of the Company’s ordinary shares has been equal to or greater than $90.00 per share for at least twenty (20) trading days during the preceding thirty (30) trading day period, the exercise price of the Company’s outstanding warrants would be increased to US$345.00.
CY2023 btct Ordinary Shares Description
OrdinarySharesDescription
the Company offered 22,899,047 ordinary shares, par value US$0.003 per share, consisting of (a) 1,470,475 ordinary shares issuable upon the exercise of pre-funded warrants (the “Pre-Funded Warrants”) and (b) 21,428,572 ordinary shares issuable upon the exercise of investor warrants (the “Investor Warrants”). Each Pre-Funded Warrant is exercisable for $0.001 per ordinary share and may be exercised at any time until all the Pre-Funded Warrants are exercised in full; and each Investor Warrant has an exercise price of $0.70 per share, is exercisable on or after August 8, 2022 and will expire on August 9, 2027.
CY2022Q3 us-gaap Warrant Exercise Price Decrease
WarrantExercisePriceDecrease
0.7
CY2022Q3 us-gaap Warrant Exercise Price Increase
WarrantExercisePriceIncrease
345
CY2022Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
3801000 usd
CY2022 us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
1485000 usd
CY2023 us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
2683000 usd
CY2022Q4 us-gaap Notes Payable Current
NotesPayableCurrent
6739000 usd
CY2023Q4 us-gaap Notes Payable Current
NotesPayableCurrent
4056000 usd
CY2023 us-gaap Capital Expenditure Discontinued Operations
CapitalExpenditureDiscontinuedOperations
4790000 usd
CY2023Q4 btct Gross Proceeds
GrossProceeds
1014286 usd
CY2023Q4 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
3.342
CY2022Q4 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
usd
CY2023 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
usd
CY2023 us-gaap Disposal Group Including Discontinued Operation Operating Income Loss
DisposalGroupIncludingDiscontinuedOperationOperatingIncomeLoss
usd
CY2023 us-gaap Discontinued Operation Gain Loss On Disposal Of Discontinued Operation Net Of Tax
DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax
usd
CY2023 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
usd
CY2023 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
usd
CY2023 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Noncontrolling Interest
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToNoncontrollingInterest
usd
CY2023 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
CY2023 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
CY2023 us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
usd
CY2023 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
usd
CY2023 us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
usd
CY2023 us-gaap Gain Loss On Sale Of Business
GainLossOnSaleOfBusiness
usd
CY2023 us-gaap Gain Loss On Sale Of Stock In Subsidiary Or Equity Method Investee
GainLossOnSaleOfStockInSubsidiaryOrEquityMethodInvestee
usd
CY2023 us-gaap Increase Decrease In Contract With Customer Asset
IncreaseDecreaseInContractWithCustomerAsset
usd
CY2023 btct Increasedecrease In Other Contract Costs
IncreasedecreaseInOtherContractCosts
usd
CY2023 btct Increasedecrease In Salary And Welfare Payable
IncreasedecreaseInSalaryAndWelfarePayable
usd
CY2023 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
usd
CY2023 us-gaap Increase Decrease In Other Accounts Payable And Accrued Liabilities
IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities
usd
CY2023 us-gaap Increase Decrease In Prepaid Taxes
IncreaseDecreaseInPrepaidTaxes
usd
CY2023 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
usd
CY2023 us-gaap Increase Decrease In Accrued Taxes Payable
IncreaseDecreaseInAccruedTaxesPayable
usd
CY2023 us-gaap Payments To Acquire Additional Interest In Subsidiaries
PaymentsToAcquireAdditionalInterestInSubsidiaries
usd
CY2023 us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
usd
CY2023 us-gaap Repayment Of Notes Receivable From Related Parties
RepaymentOfNotesReceivableFromRelatedParties
usd
CY2023 us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
usd
CY2023 us-gaap Proceeds From Repayments Of Related Party Debt
ProceedsFromRepaymentsOfRelatedPartyDebt
usd
CY2023 us-gaap Income Taxes Paid
IncomeTaxesPaid
usd
CY2022Q4 us-gaap Disposal Group Including Discontinued Operation Consideration
DisposalGroupIncludingDiscontinuedOperationConsideration
usd
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
usd
CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
usd
CY2021Q4 us-gaap Other Assets
OtherAssets
usd
CY2023 btct Receipt Of Bitcoins From Hash Power Rental
ReceiptOfBitcoinsFromHashPowerRental
usd
CY2023 us-gaap Asset Impairment Charges
AssetImpairmentCharges
usd
CY2023 us-gaap Asset Impairment Charges
AssetImpairmentCharges
usd
CY2023 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-2824000 usd
CY2022 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
5637000 usd
CY2022 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
shares
CY2023 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
shares
CY2023 us-gaap Net Income Loss From Discontinued Operations Available To Common Shareholders Basic
NetIncomeLossFromDiscontinuedOperationsAvailableToCommonShareholdersBasic
usd
CY2023 us-gaap Net Income Loss From Discontinued Operations Available To Common Shareholders Diluted
NetIncomeLossFromDiscontinuedOperationsAvailableToCommonShareholdersDiluted
usd
CY2022 us-gaap Net Income Loss From Discontinued Operations Available To Common Shareholders Diluted
NetIncomeLossFromDiscontinuedOperationsAvailableToCommonShareholdersDiluted
4670000 usd
CY2022 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
shares
CY2023 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
shares
CY2023 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
CY2023 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
CY2023Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
usd
CY2023 dei Amendment Flag
AmendmentFlag
false
CY2023 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
FY
CY2023 dei Entity Central Index Key
EntityCentralIndexKey
0001796514

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