2022 Q2 Form 10-Q Financial Statement

#000147793222003284 Filed on May 13, 2022

View on sec.gov

Income Statement

Concept 2022 Q2 2022 Q1 2021 Q2
Revenue $655.3K $1.432M $890.2K
YoY Change -26.39% 105.48% 1011.13%
Cost Of Revenue $859.8K $1.124M $301.4K
YoY Change 185.25% 321.26% 24.19%
Gross Profit -$204.5K $307.5K $588.8K
YoY Change -134.72% -28.47% -462.15%
Gross Profit Margin -31.2% 21.48% 66.14%
Selling, General & Admin $817.1K $118.7K $5.689M
YoY Change -85.64% -99.29% 7756.41%
% of Gross Profit 38.6% 966.14%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $474.8K $417.3K $119.3K
YoY Change 297.89% 273.7% -12.92%
% of Gross Profit 135.71% 20.27%
Operating Expenses $817.1K $118.7K $5.689M
YoY Change -85.64% -99.29% 7756.41%
Operating Profit -$1.022M $188.8K -$5.100M
YoY Change -79.97% -101.16% 2070.22%
Interest Expense -$148.0K $53.00 -$135.4K
YoY Change 9.31% -99.98% 22.24%
% of Operating Profit 0.03%
Other Income/Expense, Net -$262.8K $9.130K
YoY Change -11.84%
Pretax Income -$1.324M -$74.01K -$5.257M
YoY Change -74.82% -99.55% 934.5%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$1.324M -$74.01K -$5.257M
YoY Change -74.82% -99.55% 934.5%
Net Earnings / Revenue -201.99% -5.17% -590.55%
Basic Earnings Per Share $0.00
Diluted Earnings Per Share -$6.454K $0.00 -$27.10K
COMMON SHARES
Basic Shares Outstanding 205.2M shares 205.1M shares
Diluted Shares Outstanding 205.1M shares

Balance Sheet

Concept 2022 Q2 2022 Q1 2021 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $490.3K $40.73K $2.098M
YoY Change -76.63% -98.45% 31300.3%
Cash & Equivalents $490.3K $40.73K $2.098M
Short-Term Investments
Other Short-Term Assets $2.500K $2.500K $197.6K
YoY Change -98.73% -66.67% 5980.62%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $15.79M $43.23K $2.295M
YoY Change 587.9% -98.36% 23013.36%
LONG-TERM ASSETS
Property, Plant & Equipment $13.28M $10.82M $3.160M
YoY Change 320.36% 988.41% 596.94%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $2.434M $4.985M $7.664M
YoY Change -68.24% 712065.71% 1094752.86%
Other Assets $72.89K $300.4K $245.3K
YoY Change -70.29% -80.17% 196.07%
Total Long-Term Assets $492.8K $16.11M $11.07M
YoY Change -95.55% 541.66% 1961.65%
TOTAL ASSETS
Total Short-Term Assets $15.79M $43.23K $2.295M
Total Long-Term Assets $492.8K $16.11M $11.07M
Total Assets $16.28M $16.15M $13.36M
YoY Change 21.83% 213.83% 2343.94%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $55.96K $107.1K $27.26K
YoY Change 105.29% -27.05% -67.72%
Accrued Expenses $9.112K $1.428K $4.381K
YoY Change 107.99% -79.18% -82.66%
Deferred Revenue
YoY Change
Short-Term Debt $385.4K $0.00 $19.15K
YoY Change 1912.74% -100.0% -92.61%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.564M $787.3K $274.1K
YoY Change 470.54% 153.18% -58.25%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $1.564M $787.3K $274.1K
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $1.564M $787.3K $274.1K
YoY Change 470.54% 153.18% -58.25%
SHAREHOLDERS EQUITY
Retained Earnings -$46.19M -$44.72M -$45.08M
YoY Change 2.48%
Common Stock $207.2K $205.1K $5.674M
YoY Change -96.35%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $10.59M $11.24M $8.965M
YoY Change
Total Liabilities & Shareholders Equity $16.28M $16.15M $13.36M
YoY Change 21.83% 213.83% 2343.94%

Cashflow Statement

Concept 2022 Q2 2022 Q1 2021 Q2
OPERATING ACTIVITIES
Net Income -$1.324M -$74.01K -$5.257M
YoY Change -74.82% -99.55% 934.5%
Depreciation, Depletion And Amortization $474.8K $417.3K $119.3K
YoY Change 297.89% 273.7% -12.92%
Cash From Operating Activities -$619.1K $707.0K -$830.2K
YoY Change -25.43% -324.06% 2492.82%
INVESTING ACTIVITIES
Capital Expenditures -$45.00K -$21.80K -$2.316M
YoY Change -98.06% -96.33%
Acquisitions
YoY Change
Other Investing Activities $495.5K -$800.2K -$2.977M
YoY Change -116.65% -74.63% 4139.16%
Cash From Investing Activities $450.5K -$822.0K -$5.292M
YoY Change -108.51% -78.07% 7437.03%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $34.05M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 618.2K 0.000 8.120M
YoY Change -92.39% -100.0% 106886.69%
NET CHANGE
Cash From Operating Activities -619.1K 707.0K -830.2K
Cash From Investing Activities 450.5K -822.0K -5.292M
Cash From Financing Activities 618.2K 0.000 8.120M
Net Change In Cash 449.6K -115.0K 1.998M
YoY Change -77.49% -345.15% -2210.48%
FREE CASH FLOW
Cash From Operating Activities -$619.1K $707.0K -$830.2K
Capital Expenditures -$45.00K -$21.80K -$2.316M
Free Cash Flow -$574.1K $728.8K $1.486M
YoY Change -138.64% 161.43% -4739.48%

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us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-3825667 USD
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
13229 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-737497 USD
intv Increase In Equipment Deposits
IncreaseInEquipmentDeposits
-7218405 USD
intv Increase In Equipment Deposits
IncreaseInEquipmentDeposits
-2528392 USD
intv Net Proceeds From The Sale Of Digital Currencies
NetProceedsFromTheSaleOfDigitalCurrencies
6460183 USD
intv Net Proceeds From The Sale Of Digital Currencies
NetProceedsFromTheSaleOfDigitalCurrencies
3835173 USD
intv Purchase Of Digital Currencies
PurchaseOfDigitalCurrencies
-2001325 USD
intv Purchase Of Digital Currencies
PurchaseOfDigitalCurrencies
-4156874 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
28575 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
975574 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
70000 USD
intv Proceeds From The Issuance Of Series D Preferred Shares
ProceedsFromTheIssuanceOfSeriesDPreferredShares
3000000 USD
us-gaap Proceeds From Secured Notes Payable
ProceedsFromSecuredNotesPayable
0 USD
us-gaap Proceeds From Secured Notes Payable
ProceedsFromSecuredNotesPayable
563000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-13229 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
4656463 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-2056808 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
93299 USD
CY2021Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
2097537 USD
CY2020Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
6675 USD
CY2022Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
40729 USD
CY2021Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
99974 USD
us-gaap Interest Paid
InterestPaid
515 USD
us-gaap Interest Paid
InterestPaid
2479 USD
us-gaap Income Taxes Paid
IncomeTaxesPaid
0 USD
us-gaap Income Taxes Paid
IncomeTaxesPaid
0 USD
intv Equipment Deposits Transferred To Property And Equipment
EquipmentDepositsTransferredToPropertyAndEquipment
8891751 USD
intv Equipment Deposits Transferred To Property And Equipment
EquipmentDepositsTransferredToPropertyAndEquipment
0 USD
intv Accrued Preferred Stock Dividends
AccruedPreferredStockDividends
406662 USD
intv Accrued Preferred Stock Dividends
AccruedPreferredStockDividends
66311 USD
intv Conversion Of Series B Preferred Shares For Common Shares
ConversionOfSeriesBPreferredSharesForCommonShares
2474 USD
intv Conversion Of Series B Preferred Shares For Common Shares
ConversionOfSeriesBPreferredSharesForCommonShares
5263 USD
intv Common Shares Issued For Common Stock Payable
CommonSharesIssuedForCommonStockPayable
5480000 USD
intv Common Shares Issued For Common Stock Payable
CommonSharesIssuedForCommonStockPayable
0 USD
intv Debt Discount For Derivative Liabilities
DebtDiscountForDerivativeLiabilities
0 USD
intv Debt Discount For Derivative Liabilities
DebtDiscountForDerivativeLiabilities
258460 USD
intv Common Shares Issued In Conversion Of Debt
CommonSharesIssuedInConversionOfDebt
0 USD
intv Common Shares Issued In Conversion Of Debt
CommonSharesIssuedInConversionOfDebt
999869 USD
intv Common Shares Issued For Stock Subscription
CommonSharesIssuedForStockSubscription
33888 USD
intv Common Shares Issued For Series C Preferred Stock Equity Incentive
CommonSharesIssuedForSeriesCPreferredStockEquityIncentive
384100 USD
intv Settlement Of Derivative Liabilities
SettlementOfDerivativeLiabilities
0 USD
intv Settlement Of Derivative Liabilities
SettlementOfDerivativeLiabilities
466093 USD
intv Note Payable Issued For Property And Equipment
NotePayableIssuedForPropertyAndEquipment
0 USD
intv Note Payable Issued For Property And Equipment
NotePayableIssuedForPropertyAndEquipment
57822 USD
intv Property And Equipment Purchased With Digital Securities
PropertyAndEquipmentPurchasedWithDigitalSecurities
0 USD
intv Property And Equipment Purchased With Digital Securities
PropertyAndEquipmentPurchasedWithDigitalSecurities
4178 USD
us-gaap Use Of Estimates
UseOfEstimates
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Because of the use of estimates inherent in the financial reporting process, actual results could differ significantly from those estimates.</p>
CY2022Q1 intv Realized Gain Loss On Digital Currencies
RealizedGainLossOnDigitalCurrencies
-215758 USD
CY2021Q1 intv Realized Gain Loss On Digital Currencies
RealizedGainLossOnDigitalCurrencies
-54920 USD
intv Realized Gain Loss On Digital Currencies
RealizedGainLossOnDigitalCurrencies
-312075 USD
intv Realized Gain Loss On Digital Currencies
RealizedGainLossOnDigitalCurrencies
-106497 USD
CY2022Q1 intv Cryptocurrency Mining Revenues
CryptocurrencyMiningRevenues
964319 USD
CY2021Q1 intv Cryptocurrency Mining Revenues
CryptocurrencyMiningRevenues
682706 USD
intv Cryptocurrency Mining Revenues
CryptocurrencyMiningRevenues
4080688 USD
intv Cryptocurrency Mining Revenues
CryptocurrencyMiningRevenues
885931 USD
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-46999 USD
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-207281 USD
CY2021Q1 intv Net Book Value Of Assets
NetBookValueOfAssets
207281 USD
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
204584234 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
86917712 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
291501946 shares
us-gaap Concentration Risk Percentage1
ConcentrationRiskPercentage1
0.08 pure
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Certain amounts in the financial statements for prior year periods have been reclassified to conform to the presentation for the current year periods.</p>
CY2022Q1 intv Current Liabilities Exceeded Current Assets
CurrentLiabilitiesExceededCurrentAssets
744074 USD
CY2022Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-44724567 USD
CY2022Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
12450838 USD
CY2021Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
3680939 USD
CY2022Q1 intv Less Accumulated Depreciation And Amortization
LessAccumulatedDepreciationAndAmortization
-1630180 USD
CY2021Q2 intv Less Accumulated Depreciation And Amortization
LessAccumulatedDepreciationAndAmortization
-521416 USD
CY2022Q1 intv Property And Equipment Net
PropertyAndEquipmentNet
10820658 USD
CY2021Q2 intv Property And Equipment Net
PropertyAndEquipmentNet
3159523 USD
CY2022Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
417312 USD
CY2021Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
111672 USD
us-gaap Depreciation And Amortization
DepreciationAndAmortization
1142192 USD
us-gaap Depreciation And Amortization
DepreciationAndAmortization
289464 USD
CY2021Q2 us-gaap Concentration Risk Benchmark Description
ConcentrationRiskBenchmarkDescription
12 equal batches of 400 units, starting in August 2021 and through July 2022.
CY2021Q2 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
34047600 USD
CY2021Q2 us-gaap Long Term Purchase Commitment Description
LongTermPurchaseCommitmentDescription
The total purchase price is payable as follows: (i) 25% of the total purchase price is due upon the execution of the Agreement or no later than April 19, 2021; (ii) 35% of the total purchase price, is due by May 30, 2021; and (iii) the remaining 40% of the total purchase price, is payable monthly starting in June 2021.
CY2022Q1 intv Equipment Deposits
EquipmentDeposits
4984457 USD
CY2021Q2 intv Equipment Deposits
EquipmentDeposits
7663265 USD
CY2022Q1 us-gaap Related Party Costs
RelatedPartyCosts
875017 USD
CY2022Q1 intv Related Party Costs1
RelatedPartyCosts1
467500 USD
CY2021Q4 us-gaap Accrued Bonuses Current
AccruedBonusesCurrent
25000 USD
CY2021Q3 us-gaap Accrued Bonuses Current
AccruedBonusesCurrent
50000 USD
intv Agreement Term
AgreementTerm
P36Y
intv Power Expense Durinng The Year
PowerExpenseDurinngTheYear
8400 USD
intv Total Sale
TotalSale
467500 USD
CY2019Q1 intv Revised Authorized Preferred Shares
RevisedAuthorizedPreferredShares
20000000 shares
CY2019Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
250000000 shares
CY2022Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
205146592 shares
CY2021Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
194487662 shares
intv Number Of Warrants Outstanding Beginning
NumberOfWarrantsOutstandingBeginning
41000000 shares
intv Weighted Average Exercise Price Beginning
WeightedAverageExercisePriceBeginning
0.30
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
0
intv Number Of Warrants Outstanding Ending
NumberOfWarrantsOutstandingEnding
41000000 shares
intv Weighted Average Exercise Price Outstanding And Exercisable Ending
WeightedAverageExercisePriceOutstandingAndExercisableEnding
0.30
intv Weighted Average Remaining Contract Term Outstanding And Exercisable Years
WeightedAverageRemainingContractTermOutstandingAndExercisableYears
3.97
intv Aggergate Intrinsic Value Outstanding And Exercisable
AggergateIntrinsicValueOutstandingAndExercisable
0 USD
CY2022Q1 intv Debtinstrumentconvertibleconversionintrinsic Value
DebtinstrumentconvertibleconversionintrinsicValue
0.115
CY2021Q1 intv Term Of Agreement
TermOfAgreement
P90Y

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