2022 Q1 Form 10-Q Financial Statement
#000149315222013347 Filed on May 13, 2022
Income Statement
| Concept | 2022 Q1 | 2021 Q1 |
|---|---|---|
| Revenue | $255.0K | $286.0K |
| YoY Change | -10.84% | -57.75% |
| Cost Of Revenue | $546.0K | $250.0K |
| YoY Change | 118.4% | -58.68% |
| Gross Profit | -$291.0K | $36.00K |
| YoY Change | -908.33% | -50.0% |
| Gross Profit Margin | -114.12% | 12.59% |
| Selling, General & Admin | $404.0K | $485.0K |
| YoY Change | -16.7% | -52.91% |
| % of Gross Profit | 1347.22% | |
| Research & Development | ||
| YoY Change | ||
| % of Gross Profit | ||
| Depreciation & Amortization | $48.00K | $189.0K |
| YoY Change | -74.6% | -44.74% |
| % of Gross Profit | 525.0% | |
| Operating Expenses | $404.0K | $485.0K |
| YoY Change | -16.7% | -52.91% |
| Operating Profit | -$695.0K | -$449.0K |
| YoY Change | 54.79% | -53.13% |
| Interest Expense | -$140.0K | |
| YoY Change | -64.65% | |
| % of Operating Profit | ||
| Other Income/Expense, Net | $0.00 | $7.000K |
| YoY Change | -100.0% | |
| Pretax Income | -$1.518M | -$581.0K |
| YoY Change | 161.27% | -56.12% |
| Income Tax | ||
| % Of Pretax Income | ||
| Net Earnings | -$1.518M | -$581.0K |
| YoY Change | 161.27% | -56.12% |
| Net Earnings / Revenue | -595.29% | -203.15% |
| Basic Earnings Per Share | $0.00 | |
| Diluted Earnings Per Share | -$2.429K | -$1.099K |
| COMMON SHARES | ||
| Basic Shares Outstanding | 625.0M shares | |
| Diluted Shares Outstanding |
Balance Sheet
| Concept | 2022 Q1 | 2021 Q1 |
|---|---|---|
| SHORT-TERM ASSETS | ||
| Cash & Short-Term Investments | $633.0K | $1.188M |
| YoY Change | -46.72% | 6500.0% |
| Cash & Equivalents | $633.0K | $1.188M |
| Short-Term Investments | ||
| Other Short-Term Assets | $15.00K | $18.00K |
| YoY Change | -16.67% | -83.93% |
| Inventory | ||
| Prepaid Expenses | ||
| Receivables | $306.0K | |
| Other Receivables | $0.00 | |
| Total Short-Term Assets | $954.0K | $1.206M |
| YoY Change | -20.9% | 827.69% |
| LONG-TERM ASSETS | ||
| Property, Plant & Equipment | $1.297M | $1.604M |
| YoY Change | -19.14% | -57.89% |
| Goodwill | ||
| YoY Change | ||
| Intangibles | ||
| YoY Change | ||
| Long-Term Investments | $50.00K | |
| YoY Change | ||
| Other Assets | $4.000K | $123.0K |
| YoY Change | -96.75% | -21.66% |
| Total Long-Term Assets | $1.351M | $1.727M |
| YoY Change | -21.77% | -56.45% |
| TOTAL ASSETS | ||
| Total Short-Term Assets | $954.0K | $1.206M |
| Total Long-Term Assets | $1.351M | $1.727M |
| Total Assets | $2.305M | $2.933M |
| YoY Change | -21.41% | -28.39% |
| SHORT-TERM LIABILITIES | ||
| YoY Change | ||
| Accounts Payable | $315.0K | $1.562M |
| YoY Change | -79.83% | 25.06% |
| Accrued Expenses | $38.00K | $56.00K |
| YoY Change | -32.14% | -60.28% |
| Deferred Revenue | ||
| YoY Change | ||
| Short-Term Debt | $54.00K | $67.00K |
| YoY Change | -19.4% | -45.97% |
| Long-Term Debt Due | ||
| YoY Change | ||
| Total Short-Term Liabilities | $2.088M | $1.998M |
| YoY Change | 4.5% | 27.1% |
| LONG-TERM LIABILITIES | ||
| Long-Term Debt | $0.00 | $0.00 |
| YoY Change | ||
| Other Long-Term Liabilities | $18.00K | $25.00K |
| YoY Change | -28.0% | -50.98% |
| Total Long-Term Liabilities | $18.00K | $25.00K |
| YoY Change | -28.0% | -50.98% |
| TOTAL LIABILITIES | ||
| Total Short-Term Liabilities | $2.088M | $1.998M |
| Total Long-Term Liabilities | $18.00K | $25.00K |
| Total Liabilities | $2.106M | $2.023M |
| YoY Change | 4.1% | 24.65% |
| SHAREHOLDERS EQUITY | ||
| Retained Earnings | ||
| YoY Change | ||
| Common Stock | ||
| YoY Change | ||
| Preferred Stock | ||
| YoY Change | ||
| Treasury Stock (at cost) | ||
| YoY Change | ||
| Treasury Stock Shares | ||
| Shareholders Equity | $199.0K | $910.0K |
| YoY Change | ||
| Total Liabilities & Shareholders Equity | $2.305M | $2.933M |
| YoY Change | -21.41% | -28.39% |
Cashflow Statement
| Concept | 2022 Q1 | 2021 Q1 |
|---|---|---|
| OPERATING ACTIVITIES | ||
| Net Income | -$1.518M | -$581.0K |
| YoY Change | 161.27% | -56.12% |
| Depreciation, Depletion And Amortization | $48.00K | $189.0K |
| YoY Change | -74.6% | -44.74% |
| Cash From Operating Activities | -$529.0K | -$179.0K |
| YoY Change | 195.53% | -197.81% |
| INVESTING ACTIVITIES | ||
| Capital Expenditures | -$68.00K | |
| YoY Change | ||
| Acquisitions | ||
| YoY Change | ||
| Other Investing Activities | $0.00 | $131.0K |
| YoY Change | -100.0% | -444.74% |
| Cash From Investing Activities | -$68.00K | $131.0K |
| YoY Change | -151.91% | -134.38% |
| FINANCING ACTIVITIES | ||
| Cash Dividend Paid | ||
| YoY Change | ||
| Common Stock Issuance & Retirement, Net | ||
| YoY Change | ||
| Debt Paid & Issued, Net | ||
| YoY Change | ||
| Cash From Financing Activities | 1.000M | |
| YoY Change | ||
| NET CHANGE | ||
| Cash From Operating Activities | -529.0K | -179.0K |
| Cash From Investing Activities | -68.00K | 131.0K |
| Cash From Financing Activities | 1.000M | |
| Net Change In Cash | $0.00 | 952.0K |
| YoY Change | -100.0% | -580.81% |
| FREE CASH FLOW | ||
| Cash From Operating Activities | -$529.0K | -$179.0K |
| Capital Expenditures | -$68.00K | |
| Free Cash Flow | -$461.0K | -$179.0K |
| YoY Change | 157.54% | -134.03% |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
| CY2021Q4 | us-gaap |
Intangible Assets Current
IntangibleAssetsCurrent
|
USD | |
| CY2021Q4 | us-gaap |
Deferred Revenue Current
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|
USD | |
| CY2022Q1 | us-gaap |
Commitments And Contingencies
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| CY2022Q1 | us-gaap |
Interest Expense
InterestExpense
|
USD | |
| CY2021Q1 | MGTI |
Gain Loss On Change In Fair Value Of Derivtive Liability
GainLossOnChangeInFairValueOfDerivtiveLiability
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| CY2022Q1 | us-gaap |
Derivative Gain Loss On Derivative Net
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| CY2021Q1 | MGTI |
Gain Loss On Settlement Of Derivative
GainLossOnSettlementOfDerivative
|
USD | |
| CY2022Q1 | MGTI |
Accretion Of Debt Discount
AccretionOfDebtDiscount
|
USD | |
| CY2022Q1 | us-gaap |
Gain Loss On Sale Of Property Plant Equipment
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|
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| CY2022Q1 | us-gaap |
Other Nonoperating Income
OtherNonoperatingIncome
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| CY2021Q1 | MGTI |
Adjustments To Additional Paid In Capital Conversion Of Preferred Stock
AdjustmentsToAdditionalPaidInCapitalConversionOfPreferredStock
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| CY2022Q1 | us-gaap |
Gain Loss On Disposition Of Assets1
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| CY2021Q1 | MGTI |
Gain Loss On Settlement Of Derivative
GainLossOnSettlementOfDerivative
|
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| CY2022Q1 | MGTI |
Amortization Of Note Discount
AmortizationOfNoteDiscount
|
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| CY2021Q1 | us-gaap |
Increase Decrease In Accounts Receivable
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|
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| CY2021Q1 | us-gaap |
Increase Decrease In Other Current Assets
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|
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| CY2021Q1 | us-gaap |
Increase Decrease In Operating Lease Liability
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|
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| CY2021Q1 | us-gaap |
Increase Decrease In Security Deposits
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|
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| CY2021Q1 | us-gaap |
Payments To Acquire Property Plant And Equipment
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|
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| CY2022Q1 | us-gaap |
Proceeds From Sale Of Property Plant And Equipment
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|
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| CY2022Q1 | us-gaap |
Proceeds From Notes Payable
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|
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| CY2022Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
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| CY2022Q1 | us-gaap |
Interest Paid Net
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|
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| CY2021Q1 | us-gaap |
Interest Paid Net
InterestPaidNet
|
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| CY2022Q1 | us-gaap |
Income Taxes Paid Net
IncomeTaxesPaidNet
|
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| CY2021Q1 | us-gaap |
Income Taxes Paid Net
IncomeTaxesPaidNet
|
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| CY2021Q1 | MGTI |
Cashless Exercise Of Warrants And Extinguishment Of Related Warrant Derivative Liability
CashlessExerciseOfWarrantsAndExtinguishmentOfRelatedWarrantDerivativeLiability
|
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| CY2022Q1 | MGTI |
Discount Related To Convertible Promissory Note
DiscountRelatedToConvertiblePromissoryNote
|
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| CY2021Q4 | us-gaap |
Intangible Assets Current
IntangibleAssetsCurrent
|
USD | |
| CY2022Q1 | us-gaap |
Gain Loss On Sale Of Property Plant Equipment
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|
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| CY2021Q4 | us-gaap |
Interest Receivable Noncurrent
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