$BTTC
Bitech Technologies Corp Stock $bttc

$bttc Overview Financials Valuation SEC Filings Company Website

2022 Q3 Form 10-Q Financial Statement

#000149315222021532 Filed on August 05, 2022

Income Statement

Concept	2022 Q3	2022 Q2	2022 Q1
Revenue		$76.67K
YoY Change
Cost Of Revenue
YoY Change
Gross Profit		$76.67K
YoY Change
Gross Profit Margin		100.0%
Selling, General & Admin	$240.2K	$337.6K	$229.2K
YoY Change	167.85%	237.25%
% of Gross Profit		440.3%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization	$0.00	$0.00	$0.00
YoY Change	-100.0%	-100.0%
% of Gross Profit		0.0%
Operating Expenses	$240.2K	$337.6K	$229.2K
YoY Change	167.85%	2031.24%
Operating Profit	-$240.2K	-$260.9K	-$229.2K
YoY Change	7801.48%	1547.2%
Interest Expense		$200.00	$0.00
YoY Change
% of Operating Profit
Other Income/Expense, Net		-$200.00
YoY Change
Pretax Income	-$240.2K	-$261.1K	-$229.2K
YoY Change	-1057.76%	1548.46%
Income Tax			$0.00
% Of Pretax Income
Net Earnings	-$240.2K	-$261.1K	-$229.2K
YoY Change	-1057.76%	1548.46%
Net Earnings / Revenue		-340.56%
Basic Earnings Per Share	$0.00	-$0.01	-$0.01
Diluted Earnings Per Share	-$449.30	-$7.167K	-$7.076K
COMMON SHARES
Basic Shares Outstanding	514.0M shares	36.43M shares	20.24M shares
Diluted Shares Outstanding	534.7M shares

Balance Sheet

Concept	2022 Q3	2022 Q2	2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments	$320.1K	$443.9K	$1.166M
YoY Change	1718.69%	2686.69%
Cash & Equivalents	$320.1K	$443.9K	$1.166M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables			$2.270K
Other Receivables	$0.00	$0.00	$0.00
Total Short-Term Assets	$320.1K	$443.9K	$1.169M
YoY Change	360.29%	513.83%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles	$35.00K	$35.00K
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets	$35.00K	$35.00K	$35.00K
YoY Change		833.33%
TOTAL ASSETS
Total Short-Term Assets	$320.1K	$443.9K	$1.169M
Total Long-Term Assets	$35.00K	$35.00K	$35.00K
Total Assets	$355.1K	$478.9K	$1.204M
YoY Change	410.62%	529.58%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$19.61K	$28.24K	$96.85K
YoY Change	170.48%	49.73%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00	$0.00
YoY Change		-100.0%
Long-Term Debt Due			$395.0K
YoY Change
Total Short-Term Liabilities	$19.61K	$28.24K	$463.3K
YoY Change	-95.52%	-93.98%
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	$19.61K	$28.24K	$463.3K
Total Long-Term Liabilities	$0.00	$0.00	$0.00
Total Liabilities	$19.61K	$28.24K	$463.3K
YoY Change	-95.52%	-93.98%
SHAREHOLDERS EQUITY
Retained Earnings	-$1.015M	-$775.2K	-$514.1K
YoY Change
Common Stock	$515.3K	$514.0K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	$335.5K	$450.7K	$711.8K
YoY Change
Total Liabilities & Shareholders Equity	$355.1K	$478.9K	$1.204M
YoY Change	410.62%	529.58%

Cashflow Statement

Concept	2022 Q3	2022 Q2	2022 Q1
OPERATING ACTIVITIES
Net Income	-$240.2K	-$261.1K	-$229.2K
YoY Change	-1057.76%	1548.46%
Depreciation, Depletion And Amortization	$0.00	$0.00	$0.00
YoY Change	-100.0%	-100.0%
Cash From Operating Activities	-$248.8K	-$472.9K	-$220.00
YoY Change	-1248.8%	-3411.83%
INVESTING ACTIVITIES
Capital Expenditures	$0.00	$0.00	$0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities	$0.00	$0.00	$0.00
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	125.0K	-1.210M	1.150M
YoY Change	-725.0%	2925.1%
NET CHANGE
Cash From Operating Activities	-248.8K	-472.9K	-220.0
Cash From Investing Activities	0.000	0.000	0.000
Cash From Financing Activities	125.0K	-1.210M	1.150M
Net Change In Cash	-123.8K	-1.683M	1.150M
YoY Change	-7559.64%	6443.43%
FREE CASH FLOW
Cash From Operating Activities	-$248.8K	-$472.9K	-$220.00
Capital Expenditures	$0.00	$0.00	$0.00
Free Cash Flow	-$248.8K	-$472.9K	-$220.00
YoY Change

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
	dei	Entity Central Index Key EntityCentralIndexKey	0001066764
	dei	Amendment Flag AmendmentFlag	false
	dei	Current Fiscal Year End Date CurrentFiscalYearEndDate	--12-31
	dei	Document Fiscal Period Focus DocumentFiscalPeriodFocus	Q2
	dei	Entity Address State Or Province EntityAddressStateOrProvince	CA
	dei	Entity Address Postal Zip Code EntityAddressPostalZipCode	92626
	dei	City Area Code CityAreaCode	(855)
	dei	Local Phone Number LocalPhoneNumber	777-0888
	dei	Security12b Title Security12bTitle	None
	dei	Entity Current Reporting Status EntityCurrentReportingStatus	Yes
	dei	Entity Interactive Data Current EntityInteractiveDataCurrent	Yes
	dei	Entity Filer Category EntityFilerCategory	Non-accelerated Filer
	dei	Entity Small Business EntitySmallBusiness	true
	dei	Entity Emerging Growth Company EntityEmergingGrowthCompany	false
	dei	Entity Shell Company EntityShellCompany	false
CY2022Q3	dei	Entity Common Stock Shares Outstanding EntityCommonStockSharesOutstanding	514005770	shares
CY2022Q2	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	443920	usd
CY2021Q4	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	976947	usd
	us-gaap	Proceeds From Issuance Of Common Stock ProceedsFromIssuanceOfCommonStock		usd
CY2022Q1	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax		usd
CY2022Q1	us-gaap	Gross Profit GrossProfit		usd
CY2022Q1	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense		usd
CY2022Q1	us-gaap	Interest Income Expense Net InterestIncomeExpenseNet		usd
CY2022Q1	us-gaap	Increase Decrease In Interest Payable Net IncreaseDecreaseInInterestPayableNet		usd
CY2022Q1	BTTC	Cash Acquired From Acquisition Of Entity CashAcquiredFromAcquisitionOfEntity		usd
	dei	Document Type DocumentType	10-Q
CY2022Q2	us-gaap	Allowance For Doubtful Accounts Receivable Current AllowanceForDoubtfulAccountsReceivableCurrent	0	usd
CY2021Q4	us-gaap	Allowance For Doubtful Accounts Receivable Current AllowanceForDoubtfulAccountsReceivableCurrent	0	usd
	dei	Document Quarterly Report DocumentQuarterlyReport	true
	dei	Document Period End Date DocumentPeriodEndDate	2022-06-30
	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2022
	dei	Document Transition Report DocumentTransitionReport	false
CY2022Q2	us-gaap	Assets Current AssetsCurrent	443920	usd
CY2021Q4	us-gaap	Assets Current AssetsCurrent	976947	usd
CY2022Q2	us-gaap	Intangible Assets Net Excluding Goodwill IntangibleAssetsNetExcludingGoodwill	35000	usd
CY2021Q4	us-gaap	Intangible Assets Net Excluding Goodwill IntangibleAssetsNetExcludingGoodwill	35000	usd
	dei	Entity Address City Or Town EntityAddressCityOrTown	Costa Mesa
	dei	Entity File Number EntityFileNumber	000-27407
	dei	Entity Registrant Name EntityRegistrantName	BITECH TECHNOLOGIES CORPORATION
	dei	Entity Incorporation State Country Code EntityIncorporationStateCountryCode	DE
	dei	Entity Tax Identification Number EntityTaxIdentificationNumber	98-0187705
	dei	Entity Address Address Line1 EntityAddressAddressLine1	600 Anton Boulevard
	dei	Entity Address Address Line2 EntityAddressAddressLine2	Suite 1100
CY2022Q2	us-gaap	Assets Assets	478920	usd
CY2021Q4	us-gaap	Assets Assets	1011947	usd
CY2022Q2	us-gaap	Accounts Payable And Accrued Liabilities Current AccountsPayableAndAccruedLiabilitiesCurrent	28237	usd
CY2021Q4	us-gaap	Accounts Payable And Accrued Liabilities Current AccountsPayableAndAccruedLiabilitiesCurrent	11106	usd
CY2022Q2	us-gaap	Liabilities Current LiabilitiesCurrent	28237	usd
CY2021Q4	us-gaap	Liabilities Current LiabilitiesCurrent	11106	usd
CY2022Q2	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.001
CY2021Q4	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.001
CY2022Q2	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	10000000	shares
CY2021Q4	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	10000000	shares
CY2022Q2	us-gaap	Preferred Stock Shares Issued PreferredStockSharesIssued	0	shares
CY2022Q2	us-gaap	Preferred Stock Shares Outstanding PreferredStockSharesOutstanding	0	shares
CY2021Q4	us-gaap	Preferred Stock Shares Issued PreferredStockSharesIssued	0	shares
CY2021Q4	us-gaap	Preferred Stock Shares Outstanding PreferredStockSharesOutstanding	0	shares
CY2022Q2	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.001
CY2021Q4	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.001
CY2022Q2	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	1000000000	shares
CY2021Q4	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	1000000000	shares
CY2022Q2	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	514005770	shares
CY2022Q2	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	514005770	shares
CY2021Q4	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	20240882	shares
CY2021Q4	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	20240882	shares
CY2022Q2	us-gaap	Common Stock Value CommonStockValue	514006	usd
CY2021Q4	us-gaap	Common Stock Value CommonStockValue	20241	usd
CY2022Q2	us-gaap	Additional Paid In Capital AdditionalPaidInCapital	711914	usd
CY2021Q4	us-gaap	Additional Paid In Capital AdditionalPaidInCapital	1265559	usd
CY2022Q2	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-775237	usd
CY2021Q4	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-284959	usd
CY2022Q2	us-gaap	Stockholders Equity StockholdersEquity	450683	usd
CY2021Q4	us-gaap	Stockholders Equity StockholdersEquity	1000841	usd
CY2022Q2	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	478920	usd
CY2021Q4	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	1011947	usd
CY2022Q2	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	76672	usd
	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	76672	usd
CY2022Q2	us-gaap	Gross Profit GrossProfit	76672	usd
	us-gaap	Gross Profit GrossProfit	76672	usd
CY2022Q2	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	337588	usd
CY2021Q2	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	15840	usd
	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	566749	usd
	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	32970	usd
CY2022Q2	us-gaap	Operating Expenses OperatingExpenses	337588	usd
CY2021Q2	us-gaap	Operating Expenses OperatingExpenses	15840	usd
	us-gaap	Operating Expenses OperatingExpenses	566749	usd
	us-gaap	Operating Expenses OperatingExpenses	32970	usd
CY2022Q2	us-gaap	Operating Income Loss OperatingIncomeLoss	-260916	usd
CY2021Q2	us-gaap	Operating Income Loss OperatingIncomeLoss	-15840	usd
	us-gaap	Operating Income Loss OperatingIncomeLoss	-490078	usd
	us-gaap	Operating Income Loss OperatingIncomeLoss	-32970	usd
CY2022Q2	us-gaap	Interest Expense InterestExpense	200	usd
	us-gaap	Interest Expense InterestExpense	200	usd
CY2022Q2	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	-200	usd
	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	-200	usd
CY2022Q2	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	-261116	usd
CY2021Q2	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	-15840	usd
	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	-490278	usd
	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	-32970	usd
CY2022Q2	us-gaap	Net Income Loss NetIncomeLoss	-261116	usd
CY2021Q2	us-gaap	Net Income Loss NetIncomeLoss	-15840	usd
	us-gaap	Net Income Loss NetIncomeLoss	-490278	usd
	us-gaap	Net Income Loss NetIncomeLoss	-32970	usd
CY2022Q2	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-0.01
CY2021Q2	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-0.00
	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-0.02
	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-0.00
CY2022Q2	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	36433588	shares
CY2021Q2	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	20240882	shares
	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	28337235	shares
	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	20240882	shares
	us-gaap	Net Income Loss NetIncomeLoss	-490278	usd
	us-gaap	Net Income Loss NetIncomeLoss	-32970	usd
	us-gaap	Issuance Of Stock And Warrants For Services Or Claims IssuanceOfStockAndWarrantsForServicesOrClaims	9800	usd
	BTTC	Common Stock Issue For Exclusive License CommonStockIssueForExclusiveLicense	10000	usd
	us-gaap	Increase Decrease In Due To Related Parties Current IncreaseDecreaseInDueToRelatedPartiesCurrent	-63609	usd
	us-gaap	Increase Decrease In Accounts Payable And Accrued Liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities	17131	usd
	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-473147	usd
	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-76779	usd
	us-gaap	Payments To Acquire Intangible Assets PaymentsToAcquireIntangibleAssets	25000	usd
	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-25000	usd
	us-gaap	Proceeds From Issuance Of Common Stock ProceedsFromIssuanceOfCommonStock	220000	usd
	BTTC	Recapitalization Payments RecapitalizationPayments	59880	usd
	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	-59880	usd
	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	220000	usd
	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	-533027	usd
	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	118221	usd
CY2021Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations	976947	usd
CY2022Q2	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations	443920	usd
CY2021Q2	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations	118221	usd
	us-gaap	Interest Paid Net InterestPaidNet	200	usd
CY2021Q1	us-gaap	Stockholders Equity StockholdersEquity	1285800	usd
	us-gaap	Net Income Loss NetIncomeLoss	-284959	usd
CY2021Q4	us-gaap	Stockholders Equity StockholdersEquity	1000841	usd
	BTTC	Adjustments To Additional Paid In Capital Recapitalization AdjustmentsToAdditionalPaidInCapitalRecapitalization	-59880	usd
	us-gaap	Stock Issued During Period Value New Issues StockIssuedDuringPeriodValueNewIssues	9000	usd
	us-gaap	Stock Issued During Period Value Conversion Of Convertible Securities StockIssuedDuringPeriodValueConversionOfConvertibleSecurities	-9000	usd
	us-gaap	Net Income Loss NetIncomeLoss	-490278	usd
CY2022Q2	us-gaap	Stockholders Equity StockholdersEquity	450683	usd
	us-gaap	Dividends Dividends	0	usd
	us-gaap	Dividends Dividends	0	usd
	us-gaap	Nature Of Operations NatureOfOperations	<p id="xdx_800_eus-gaap--NatureOfOperations_zEo1ZuwkeSQf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 1. <span id="xdx_82F_ztDsTjIe3az">DESCRIPTION OF BUSINESS</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Bitech Technologies Corporation (formerly, Spine Injury Solutions Inc.) (the “Company”, “we” or “us”) was incorporated under the laws of Delaware on March 4, 1998. In connection with the Company’s planned expansion of its business following the completion of the acquisition of Bitech Mining Corporation, a Wyoming corporation (“Bitech Mining”), it filed a Certificate of Amendment to its Certificate of Incorporation, as amended (the “Certificate of Amendment”) with the Secretary of State of the State of Delaware on April 29, 2022 to change its corporate name to Bitech Technologies Corporation.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We are a development-stage technology company dedicated to providing a suite of green energy solutions which we call the Evirontek Integrated Platform with a focus on cryptocurrency mining, data centers, commercial and residential utility, electric vehicle, and other renewable energy initiatives. We seek to offer our Evirontek Integrated Platform to resolve the exorbitantly high cost of electricity in crypto mining and related industries. Our initial core technology is Tesdison; a revolutionary U.S. patented self-charging dual-battery system technology providing increased efficiency in power generation. We plan to seek business partnerships with renewable energy providers for various applications and engage with value-added resellers to facilitate and implement our scalable and modular system solution.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company acquired Bitech Mining on March 31, 2022 (the “Closing Date”) through a share exchange pursuant to a Share Exchange Agreement (the “Share Exchange Agreement”) by and among the Company, Bitech Mining, each of Bitech Mining’s shareholders (each, a “Seller” and collectively, the “Sellers”), and Benjamin Tran, solely in his capacity as Sellers’ Representative (“Sellers’ Representative”). The transaction contemplated by the Share Exchange Agreement is hereinafter referred to as the “Share Exchange”). The Share Exchange Agreement provides that the Company will acquire from the Sellers, an aggregate of <span id="xdx_906_eus-gaap--StockIssuedDuringPeriodSharesAcquisitions_c20220329__20220331__us-gaap--BusinessAcquisitionAxis__custom--BitechMiningCorporationMember__us-gaap--TypeOfArrangementAxis__custom--ShareExchangeAgreementMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_z6NGNQj2bbm5" title="Number of shares acquired">94,312,250</span> shares of Bitech Mining’s Common Stock, par value $<span id="xdx_90E_eus-gaap--CommonStockParOrStatedValuePerShare_iI_c20220331__us-gaap--BusinessAcquisitionAxis__custom--BitechMiningCorporationMember__us-gaap--TypeOfArrangementAxis__custom--ShareExchangeAgreementMember_zd75BrpW7E44" title="Common stock, par value">0.001</span> per share, representing <span id="xdx_905_ecustom--SharesIssuedAndOutstandingPercentage_iI_pid_uPure_c20220331__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--BusinessAcquisitionAxis__custom--BitechMiningCorporationMember_zHbSeCrMmNx" title="Share issued and outstanding percentage">100%</span> of the issued and outstanding shares of Bitech Mining (collectively, the “Bitech Mining Shares”). In consideration of the Bitech Mining Shares, the Company issued to the Sellers an aggregate of <span id="xdx_905_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20220329__20220331__us-gaap--BusinessAcquisitionAxis__custom--BitechMiningCorporationMember__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesAPreferredStockMember_zobTcPRfBQv4" title="Number of shares issued">9,000,000</span> shares of the Company’s newly authorized Series A Convertible Preferred Stock, par value $<span id="xdx_90B_eus-gaap--PreferredStockParOrStatedValuePerShare_iI_c20220331__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesAPreferredStockMember__us-gaap--BusinessAcquisitionAxis__custom--BitechMiningCorporationMember_zwEJmIZjZvrb" title="Preferred stock, par value">0.001</span> per share (the “Series A Preferred Stock”). Each Bitech Mining Share shall be entitled to receive <span id="xdx_90A_eus-gaap--SharesIssued_iI_c20220331__us-gaap--BusinessAcquisitionAxis__custom--BitechMiningCorporationMember__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesAPreferredStockMember_zepFqtZTAPx1" title="Shares issued">0.09543</span> shares of Series A Preferred Stock. <span id="xdx_90F_eus-gaap--ConvertiblePreferredStockTermsOfConversion_c20220329__20220331__us-gaap--BusinessAcquisitionAxis__custom--BitechMiningCorporationMember__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesAPreferredStockMember_zzfmFTT1ssSg" title="Preferred stock conversion term">Each share of Series A Preferred Stock shall automatically convert into 53.975685 shares (an aggregate of approximately 485,781,300) of the Company’s Common Stock (the “Company Common Stock”) upon filing of an amendment to its Certificate of Incorporation increasing the number of the Company’s authorized common stock so that there are a sufficient number of shares of Company Common Stock authorized but unissued to permit a full conversion of all the Series A Preferred Stock. Upon conversion of the Series A Preferred Stock, the Sellers were expected to hold, in the aggregate, approximately <span id="xdx_90E_ecustom--SharesIssuedAndOutstandingPercentage_iI_pid_uPure_c20220331__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesAPreferredStockMember_zQSTmZKDwJRe" title="Share issued and outstanding percentage">96%</span> of the issued and outstanding shares of Company capital stock on a fully diluted basis.</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Share Exchange was treated as a recapitalization and reverse acquisition for financial reporting purposes, and Bitech Mining is considered the acquirer for accounting purposes. As a result of the Share Exchange and the change in our business and operations, a discussion of the past financial results of our predecessor, Spine Injury Solutions Inc., is not pertinent, and under applicable accounting principles, the historical financial results of Bitech Mining, the accounting acquirer, prior to the Share Exchange are considered our historical financial results.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Prior to March 31, 2022, we were engaged in the business of owning, developing and leasing the Quad Video Halo video recording system (“QVH”) used to record medical procedures including the collection of accounts receivables related to previously provided spine injury diagnostic services (collectively, the “QVH Business”). On June 30, 2022, we sold the assets related to the QVH Business.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>BITECH TECHNOLOGIES CORPORATION</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2022Q2	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	514005770	shares
	us-gaap	Property Plant And Equipment Estimated Useful Lives PropertyPlantAndEquipmentEstimatedUsefulLives	three years
CY2022Q1	us-gaap	Additional Paid In Capital AdditionalPaidInCapital	1196679	usd
CY2022Q1	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-514121	usd
CY2022Q1	us-gaap	Operating Expenses OperatingExpenses	229162	usd
	us-gaap	Concentration Risk Credit Risk ConcentrationRiskCreditRisk	<p id="xdx_84C_eus-gaap--ConcentrationRiskCreditRisk_z4BDmSarfo9e" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86A_zlKu3UnM6Zcd">Concentrations of Credit Risk</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Assets that expose us to credit risk consist primarily of cash and accounts receivable. Our accounts receivable arise from a diversified customer base and, therefore, we believe the concentration of credit risk is minimal. We evaluate the creditworthiness of customers before any services are provided. We record a discount based on the nature of our business, collection trends, and an assessment of our ability to fully realize amounts billed for services. We have no accounts receivable to warrant any allowance at June 30, 2022 or December 31, 2021.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>BITECH TECHNOLOGIES CORPORATION</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2021Q1	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	10000000	shares
CY2021Q1	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.001
CY2022Q2	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	250000000	shares
CY2022Q2	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	1000000000	shares
CY2022Q2	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.001
CY2022Q2	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	514005770	shares
CY2022Q1	us-gaap	Area Of Real Estate Property AreaOfRealEstateProperty	200	sqft
CY2022Q1	us-gaap	Accounts Payable And Accrued Liabilities Current AccountsPayableAndAccruedLiabilitiesCurrent	96854	usd
CY2022Q1	us-gaap	Notes Payable Related Parties Classified Current NotesPayableRelatedPartiesClassifiedCurrent	395000	usd
CY2022Q1	us-gaap	Net Income Loss NetIncomeLoss	-229162	usd
CY2022Q1	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-0.01
CY2021Q4	us-gaap	Stockholders Equity StockholdersEquity	1000841	usd
CY2022Q1	us-gaap	Stockholders Equity StockholdersEquity	711799	usd
CY2022Q1	us-gaap	Stockholders Equity StockholdersEquity	711799	usd
CY2022Q1	us-gaap	Net Income Loss NetIncomeLoss	-229162	usd
CY2022Q1	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	-2271	usd
CY2022Q1	us-gaap	Increase Decrease In Accounts Payable And Accrued Liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities	85748	usd
CY2022Q1	us-gaap	Repayments Of Related Party Debt RepaymentsOfRelatedPartyDebt	395000	usd
CY2022Q1	BTTC	Recapitalization Payments RecapitalizationPayments	-59880	usd

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2022 Q3 Form 10-Q Financial Statement

#000149315222021532 Filed on August 05, 2022

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$BTTC Bitech Technologies Corp Stock $bttc

2022 Q3 Form 10-Q Financial Statement

#000149315222021532 Filed on August 05, 2022

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$BTTC
Bitech Technologies Corp Stock $bttc