2022 Q3 Form 10-Q Financial Statement

#000121390022050040 Filed on August 22, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2021 Q4
Revenue $28.33M $19.78M $19.66M
YoY Change 158.76% 232.74%
Cost Of Revenue $18.18M $14.36M $3.686M
YoY Change 627.39% 4781.71%
Gross Profit $10.14M $5.421M $15.97M
YoY Change 20.09% -4.06%
Gross Profit Margin 35.81% 27.41% 81.25%
Selling, General & Admin $5.002M $9.431M $5.438M
YoY Change -27.88% 155.09% 5128.6%
% of Gross Profit 49.3% 173.96% 34.05%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $16.23M $16.02M $6.136M
YoY Change 293.13% 532.48%
% of Gross Profit 160.03% 295.54% 38.42%
Operating Expenses $22.05M $26.39M $11.57M
YoY Change 99.29% 123.84% 7827.16%
Operating Profit -$8.237M -$3.255M $4.395M
YoY Change 214.75% -46.98%
Interest Expense $1.559M $1.565M -$1.585M
YoY Change -403.74% 237.26% -386.54%
% of Operating Profit -36.05%
Other Income/Expense, Net $59.82K $1.865M $400.0K
YoY Change 84.46% 296.6% -1766.5%
Pretax Income -$21.25M -$2.406M $2.740M
YoY Change 586.01% -62.11% 18.96%
Income Tax $0.00 $277.7K
% Of Pretax Income 10.14%
Net Earnings -$20.86M -$2.406M $2.300M
YoY Change 733.32% -61.45% -0.14%
Net Earnings / Revenue -73.64% -12.16% 11.7%
Basic Earnings Per Share -$0.27 -$0.03
Diluted Earnings Per Share -$0.27 -$0.03 $32.51K
COMMON SHARES
Basic Shares Outstanding 81.25M shares 71.60M shares
Diluted Shares Outstanding 79.37M shares 71.60M shares

Balance Sheet

Concept 2022 Q3 2022 Q2 2021 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.889M $2.494M $5.467M
YoY Change -91.08% -31.0% 77.45%
Cash & Equivalents $1.183M $2.494M $5.467M
Short-Term Investments $1.706M $326.8K
Other Short-Term Assets $24.37M $5.336M $373.0K
YoY Change 3380.55% 1277.57% 372.09%
Inventory
Prepaid Expenses $2.540M $5.292M $332.2K
Receivables $11.79M $4.212M $5.607M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $37.34M $12.04M $11.45M
YoY Change -28.31% 169.08% 262.25%
LONG-TERM ASSETS
Property, Plant & Equipment $112.5M $148.9M $76.94M
YoY Change 75.92% 420.17% 265199.48%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $23.09M $19.35M $326.8K
YoY Change 25425.03% 9082.62%
Other Assets $4.077M $4.153M
YoY Change 147.05% 192.81%
Total Long-Term Assets $143.3M $179.8M $133.8M
YoY Change 118.08% 494.16% 461442.64%
TOTAL ASSETS
Total Short-Term Assets $37.34M $12.04M $11.45M
Total Long-Term Assets $143.3M $179.8M $133.8M
Total Assets $180.6M $191.8M $145.3M
YoY Change 53.34% 452.28% 4456.11%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $27.53M $47.05M $7.747M
YoY Change 778.16% 1005.37%
Accrued Expenses $2.111M $1.452M $1.222M
YoY Change -36.78% 4049.97%
Deferred Revenue
YoY Change
Short-Term Debt $31.39M $19.47M $11.10M
YoY Change 6592.25% 1863.98% 4086.94%
Long-Term Debt Due $30.14K $29.64K $8.110K
YoY Change
Total Short-Term Liabilities $62.03M $68.00M $20.07M
YoY Change 793.42% 1187.25% 989.14%
LONG-TERM LIABILITIES
Long-Term Debt $9.198M $19.50M $7.678M
YoY Change 65321.62% 139212.43%
Other Long-Term Liabilities $16.61M $3.219M $2.963M
YoY Change -46.07%
Total Long-Term Liabilities $25.81M $22.72M $10.64M
YoY Change 183444.17% 162202.07% 93.68%
TOTAL LIABILITIES
Total Short-Term Liabilities $62.03M $68.00M $20.07M
Total Long-Term Liabilities $25.81M $22.72M $10.64M
Total Liabilities $87.84M $90.72M $30.71M
YoY Change 1256.59% 1643.41% 318.62%
SHAREHOLDERS EQUITY
Retained Earnings -$103.8M -$82.95M -$71.12M
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $93.27M $101.3M $114.7M
YoY Change
Total Liabilities & Shareholders Equity $180.6M $191.8M $145.3M
YoY Change 53.34% 452.28% 4456.11%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2021 Q4
OPERATING ACTIVITIES
Net Income -$20.86M -$2.406M $2.300M
YoY Change 733.32% -61.45% -0.14%
Depreciation, Depletion And Amortization $16.23M $16.02M $6.136M
YoY Change 293.13% 532.48%
Cash From Operating Activities -$8.006M $27.28M $14.62M
YoY Change -1289.9% 370.95% -2696.18%
INVESTING ACTIVITIES
Capital Expenditures -$16.02M -$23.49M -$64.09M
YoY Change -58.25% 397.97%
Acquisitions
YoY Change
Other Investing Activities $13.70M $0.00 -$1.896M
YoY Change 533.17% -100.0% -367.45%
Cash From Investing Activities -$2.311M -$23.49M -$65.99M
YoY Change -93.61% 402.04% -9406.96%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 6.727M -3.971M 23.83M
YoY Change -89.62% 11278.77%
NET CHANGE
Cash From Operating Activities -8.006M 27.28M 14.62M
Cash From Investing Activities -2.311M -23.49M -65.99M
Cash From Financing Activities 6.727M -3.971M 23.83M
Net Change In Cash -3.591M -184.0K -27.54M
YoY Change -112.27% -117.06% -18964.25%
FREE CASH FLOW
Cash From Operating Activities -$8.006M $27.28M $14.62M
Capital Expenditures -$16.02M -$23.49M -$64.09M
Free Cash Flow $8.010M $50.78M $78.71M
YoY Change -79.48% 383.08% -14079.87%

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us-gaap Net Income Loss
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us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
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us-gaap Stock Redeemed Or Called During Period Value
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CY2022Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
101121174 usd
CY2020Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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migi Exchange Of Stock And Reverse Recapitalization Of Wize Pharma Inc
ExchangeOfStockAndReverseRecapitalizationOfWizePharmaInc
-4975217 usd
migi Issuance Of Common Stock Net Of Offer Costs Pipe Transaction
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3000000 usd
us-gaap Stock Issued During Period Value Other
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us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
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us-gaap Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
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us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
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migi Fair Value Adjustment Of Lo2 A Intellectual Property Revenue Sharing Obligation
FairValueAdjustmentOfLO2AIntellectualPropertyRevenueSharingObligation
5440863 usd
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
43135 usd
migi Late Acceptance Of Exchange Of Common Stock Of Cosmos Capital Limited For Common Stock Of
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us-gaap Net Income Loss
NetIncomeLoss
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us-gaap Other Comprehensive Income Loss Tax
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CY2021Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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us-gaap Profit Loss
ProfitLoss
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us-gaap Profit Loss
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-44868930 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
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us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
3848141 usd
migi Lo2 A Write Offs
LO2AWriteOffs
23963050 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
809130 usd
migi Gain Loss Foreign Exchange
GainLossForeignExchange
-137758 usd
migi Gain Loss Foreign Exchange
GainLossForeignExchange
-1569278 usd
us-gaap Increase Decrease In Derivative Liabilities
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-17714357 usd
us-gaap Gain Loss On Sale Of Property Plant Equipment
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us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
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us-gaap Employee Benefits And Share Based Compensation
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migi Gain On Disposal Of Fixed Assets
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us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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-138293 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-654004 usd
migi Increase Decrease Investment Income
IncreaseDecreaseInvestmentIncome
131056 usd
migi Noncontrolling Interest
NoncontrollingInterest
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us-gaap Increase Decrease In Accounts And Other Receivables
IncreaseDecreaseInAccountsAndOtherReceivables
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us-gaap Increase Decrease In Accounts And Other Receivables
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us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
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us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
809735 usd
us-gaap Increase Decrease In Other Accounts Payable
IncreaseDecreaseInOtherAccountsPayable
39299304 usd
us-gaap Increase Decrease In Other Accounts Payable
IncreaseDecreaseInOtherAccountsPayable
2373896 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
33146960 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
7664467 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
21100867 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
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us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
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us-gaap Payments To Acquire Other Productive Assets
PaymentsToAcquireOtherProductiveAssets
32054326 usd
us-gaap Payments To Acquire Other Productive Assets
PaymentsToAcquireOtherProductiveAssets
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us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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migi Proceeds From Issuance Of Shares And Warrants
ProceedsFromIssuanceOfSharesAndWarrants
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migi Proceeds From Issuance Of Shares And Warrants
ProceedsFromIssuanceOfSharesAndWarrants
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us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
21487391 usd
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
2229096 usd
migi Payments Of Borrowings
PaymentsOfBorrowings
-26581467 usd
migi Payments Of Borrowings
PaymentsOfBorrowings
-1423064 usd
migi Advances Made To External Companies
AdvancesMadeToExternalCompanies
-42210 usd
us-gaap Repayments Of Debt
RepaymentsOfDebt
937008 usd
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
6182245 usd
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
722518 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
19513738 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
21250788 usd
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-2478952 usd
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-348001 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
2501624 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
5467273 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1112811 usd
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2493826 usd
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
3614435 usd
us-gaap Change In Reporting Entity Other Comprehensive Income Loss After Tax
ChangeInReportingEntityOtherComprehensiveIncomeLossAfterTax
13980000 usd
CY2022Q2 us-gaap Retained Earnings Appropriated
RetainedEarningsAppropriated
82950000 usd
CY2022Q2 us-gaap Cash Available For Distributions
CashAvailableForDistributions
2500000 usd
CY2022Q3 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
3600000 usd
CY2022Q3 migi Net Proceeds
NetProceeds
5620000 usd
us-gaap Use Of Estimates
UseOfEstimates
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Use of Estimates and Assumptions</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b> </b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The preparation of the financial statements in conformity with U.S. GAAP requires management to make estimates, judgments and assumptions that affect the amounts reported in the financial statements and accompanying notes. The Company evaluates on an ongoing basis its assumptions. The Company’s management believes that the estimates, judgments and assumptions used are reasonable based upon information available at the time they are made.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">These estimates, judgments and assumptions can affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates of the consolidated financial statements, and the reported amounts of income and expenses during the reporting periods. Actual results could differ from those estimates. The Company has considered the following to be significant estimates made by management, including but not limited to, going concern assumptions, estimating the useful lives of fixed assets, realization of long-lived assets, unrealized tax positions and the realization of digital currencies, valuing the derivative asset classified under Level 3 fair value hierarchy, business combinations, reverse asset acquisition, and the contingent obligation with respect to future revenues.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i> </i></b></p>
us-gaap Increase Decrease In Other Regulatory Assets
IncreaseDecreaseInOtherRegulatoryAssets
2978232 usd
migi Increasedecrease Depriciation Charge
IncreasedecreaseDepriciationCharge
84735 usd
CY2022Q2 us-gaap Derivative Assets
DerivativeAssets
17714357 usd
CY2022Q2 us-gaap Other Assets
OtherAssets
1638027 usd
CY2021Q4 us-gaap Other Assets
OtherAssets
326801 usd
migi Percentage Value Of The Observable Market Inputs
PercentageValueOfTheObservableMarketInputs
0.20 pure
CY2022Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
1470000 usd
migi Fair Value Of Level1 Assets Shares
FairValueOfLevel1AssetsShares
50000000 shares
migi Tax Benefit Percentage
TaxBenefitPercentage
0.50 pure
CY2022Q1 migi Digital Currencies Balance
DigitalCurrenciesBalance
0
CY2021Q4 migi Digital Currencies Balance
DigitalCurrenciesBalance
0.92
CY2022Q2 migi Additions Of Digital Currencies1
AdditionsOfDigitalCurrencies1
489.6
migi Additions Of Digital Currencies1
AdditionsOfDigitalCurrencies1
948.27
CY2022Q2 migi Sale Of Digital Currencies1
SaleOfDigitalCurrencies1
-487.39
migi Sale Of Digital Currencies1
SaleOfDigitalCurrencies1
-946.98
CY2022Q2 migi Digital Currencies Balance
DigitalCurrenciesBalance
2.21
CY2022Q2 migi Digital Currencies Balance
DigitalCurrenciesBalance
2.21
migi Share Based Compensation Arrangement By Share Based Payments Warrant Issued
ShareBasedCompensationArrangementByShareBasedPaymentsWarrantIssued
40000000 shares
migi Warrants To Purchase Common Stockin Dollars
WarrantsToPurchaseCommonStockinDollars
6391667 shares
migi Warrants To Purchase Common Stockin Dollars
WarrantsToPurchaseCommonStockinDollars
1698727 shares
migi Common Stock Due To Former Cosmos Shareholders
CommonStockDueToFormerCosmosShareholders
29459 shares
migi Mandatory Convertible Notes To Exchange Common Stock
MandatoryConvertibleNotesToExchangeCommonStock
6362690 shares
migi Restricted Stock Units Rs Us Issued Under A Management Equity Plan
RestrictedStockUnitsRSUsIssuedUnderAManagementEquityPlan
2449725 shares
migi Restricted Stock Units Rs Us Issued Under A Management Equity Plan
RestrictedStockUnitsRSUsIssuedUnderAManagementEquityPlan
4000000 shares
migi Total Of Diluted Loss Per Share
TotalOfDilutedLossPerShare
8870851 shares
migi Total Of Diluted Loss Per Share
TotalOfDilutedLossPerShare
12061417 shares
CY2022Q2 us-gaap Net Income Loss Attributable To Nonredeemable Noncontrolling Interest
NetIncomeLossAttributableToNonredeemableNoncontrollingInterest
-2117403 usd
CY2021Q2 us-gaap Net Income Loss Attributable To Nonredeemable Noncontrolling Interest
NetIncomeLossAttributableToNonredeemableNoncontrollingInterest
-6239923 usd
us-gaap Net Income Loss Attributable To Nonredeemable Noncontrolling Interest
NetIncomeLossAttributableToNonredeemableNoncontrollingInterest
-13453059 usd
us-gaap Net Income Loss Attributable To Nonredeemable Noncontrolling Interest
NetIncomeLossAttributableToNonredeemableNoncontrollingInterest
-44803128 usd
CY2022Q2 us-gaap Weighted Average Number Of Shares Common Stock Subject To Repurchase Or Cancellation
WeightedAverageNumberOfSharesCommonStockSubjectToRepurchaseOrCancellation
71598552 shares
CY2021Q2 us-gaap Weighted Average Number Of Shares Common Stock Subject To Repurchase Or Cancellation
WeightedAverageNumberOfSharesCommonStockSubjectToRepurchaseOrCancellation
50264283 shares
us-gaap Weighted Average Number Of Shares Common Stock Subject To Repurchase Or Cancellation
WeightedAverageNumberOfSharesCommonStockSubjectToRepurchaseOrCancellation
71790772 shares
us-gaap Weighted Average Number Of Shares Common Stock Subject To Repurchase Or Cancellation
WeightedAverageNumberOfSharesCommonStockSubjectToRepurchaseOrCancellation
47298702 shares
CY2022Q2 us-gaap Net Income Loss Per Outstanding Limited Partnership And General Partnership Unit Basic And Diluted
NetIncomeLossPerOutstandingLimitedPartnershipAndGeneralPartnershipUnitBasicAndDiluted
-0.03
CY2021Q2 us-gaap Net Income Loss Per Outstanding Limited Partnership And General Partnership Unit Basic And Diluted
NetIncomeLossPerOutstandingLimitedPartnershipAndGeneralPartnershipUnitBasicAndDiluted
-0.12
us-gaap Net Income Loss Per Outstanding Limited Partnership And General Partnership Unit Basic And Diluted
NetIncomeLossPerOutstandingLimitedPartnershipAndGeneralPartnershipUnitBasicAndDiluted
-0.19
us-gaap Net Income Loss Per Outstanding Limited Partnership And General Partnership Unit Basic And Diluted
NetIncomeLossPerOutstandingLimitedPartnershipAndGeneralPartnershipUnitBasicAndDiluted
-0.95
CY2021Q3 us-gaap Excess Stock Shares Authorized
ExcessStockSharesAuthorized
120000000 shares
CY2021Q3 migi Purchase Price Description
PurchasePriceDescription
On August 9, 2021, Cosmos Infrastructure LLC entered into a second Long-Term Purchase Contract with Canaan for the purchase of 15,000 next generation Avalon A1246 ASIC Miners. The average purchase price per unit is $4,908 for a total purchase price of $73,620,000. The final shipment for contract was received during May 2022, in total there were 11,000 Miners delivered, there was a final adjustment to the purchase price based on the actual tera hash and number of Miners delivered based on the agreed price per tera hash under the terms of the contract. The purchase price adjustment resulted in a $0.3 million reduction in the purchase price, this is due to be received in cash from Canaan. 
CY2022Q2 us-gaap Cash
Cash
32054326 usd
us-gaap Lessor Operating Lease Description
LessorOperatingLeaseDescription
The lease term was originally for 1 acre from May 1, 2020, until April 30, 2023. An amendment to the lease and exercise of option to lease four additional acres was signed and became effective February 23, 2021. A further amendment to the lease and exercise of option to lease was signed and became effective August 24, 2021. The Lease Amendment covers an additional 11.35 acres of the property, bringing the total to 16.35 acres under the lease. It also includes 5, 3-year extension options bringing the total lease period to run potentially until 2038.
CY2022Q2 us-gaap Area Of Land
AreaOfLand
1076 sqft
CY2022Q2 us-gaap Land Subject To Ground Leases
LandSubjectToGroundLeases
6 acre
CY2022Q1 us-gaap Lessor Operating Lease Option To Extend
LessorOperatingLeaseOptionToExtend
The term of the lease is for 5 years, with 2 options to extend for 5 years each.
CY2022Q2 us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
8094 usd
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
12396 usd
CY2022Q2 migi Interest On Lease Obligations1
InterestOnLeaseObligations1
2468 usd
migi Interest On Lease Obligations1
InterestOnLeaseObligations1
3946 usd
CY2022Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
194939815 usd
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
95150522 usd
CY2022Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
46001594 usd
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
18213672 usd
CY2022Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
148938221 usd
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
76936850 usd
CY2022Q2 us-gaap Other Depreciation And Amortization
OtherDepreciationAndAmortization
16023817 usd
CY2021Q2 us-gaap Other Depreciation And Amortization
OtherDepreciationAndAmortization
2533242 usd
us-gaap Other Depreciation And Amortization
OtherDepreciationAndAmortization
29826849 usd
us-gaap Other Depreciation And Amortization
OtherDepreciationAndAmortization
3848142 usd
us-gaap Debt Conversion Converted Instrument Shares Issued1
DebtConversionConvertedInstrumentSharesIssued1
42562432 shares
CY2022Q2 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
1470000 usd
migi Sharebased Compensation Arrangement By Sharebased Payment Award Options Issued Weighted Average Remaining Contractual Term
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsIssuedWeightedAverageRemainingContractualTerm
P1Y6M
CY2022Q2 us-gaap Income Loss From Subsidiaries Before Tax
IncomeLossFromSubsidiariesBeforeTax
-2405632 usd
CY2021Q2 us-gaap Income Loss From Subsidiaries Before Tax
IncomeLossFromSubsidiariesBeforeTax
-6348860 usd
CY2022Q2 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
12128 usd
CY2022Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.005 pure
CY2021Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0 pure
us-gaap Income Loss From Subsidiaries Before Tax
IncomeLossFromSubsidiariesBeforeTax
-13975707 usd
us-gaap Income Loss From Subsidiaries Before Tax
IncomeLossFromSubsidiariesBeforeTax
-44868930 usd
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
12128 usd
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.0009 pure
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0 pure
CY2022Q2 us-gaap Sale Of Stock Number Of Shares Issued In Transaction
SaleOfStockNumberOfSharesIssuedInTransaction
901000 shares
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
3524189 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
4143478 shares
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
8.57
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
1276000 shares
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
6391667 shares
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
8.57
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P1Y6M
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
6391667 shares
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
8.57
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P1Y6M
CY2022Q1 us-gaap Warrants And Rights Outstanding Maturity Date
WarrantsAndRightsOutstandingMaturityDate
2023-08-23
CY2022Q1 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
3850000 shares
CY2022Q1 us-gaap Warrant Exercise Price Decrease
WarrantExercisePriceDecrease
6.5
CY2022Q1 us-gaap Debt Conversion Original Debt Amount1
DebtConversionOriginalDebtAmount1
20000000 usd
migi Exercise Of Warrants
ExerciseOfWarrants
1276000 shares
us-gaap Development Costs
DevelopmentCosts
300000 usd
CY2022Q2 us-gaap Debt Instrument Interest Rate Effective Percentage
DebtInstrumentInterestRateEffectivePercentage
1 pure
CY2022Q2 us-gaap Shares Issued
SharesIssued
107042254 shares
CY2021Q4 us-gaap Short Term Debt Description
ShortTermDebtDescription
On October 15, 2021, the Company acquired 2,000 Whatsminers M30’s for delivery in October 2021 from Foundry Digital LLC for a total consideration of $16,481,328. The Company paid a deposit of $3,202,766 and entered into an extension of the original Foundry finance agreement with Foundry for the balance of the consideration over a 12-month term, of which $4,914,329 is outstanding at June 30, 2022.  
CY2021Q4 us-gaap Long Term Debt Description
LongTermDebtDescription
In December 2021 MIG No. 1 Pty Ltd entered into a Secured Loan Facility Agreement with Marshall Investments MIG Pty Ltd which was payable in three tranches. The first tranche was received during December 2021 with an amount of $7.86 million. Tranche two and three were received during January and February 2022 with a total amount of $7.11 million. The loan matures in 2024 and bears interest at a rate of 12.00% per annum, payable monthly which commenced December 2021. This loan facility is secured by a general security agreement given by the Company. Principal repayments begin during 2023.
CY2022Q2 us-gaap Other Liabilities
OtherLiabilities
2540000 usd
CY2022Q1 migi Celsius Loan
CelsiusLoan
20000000 usd
CY2022Q1 us-gaap Short Term Debt Interest Rate Increase
ShortTermDebtInterestRateIncrease
0.12 pure
CY2022Q1 migi Amortize Loan Rate
AmortizeLoanRate
0.15 pure
CY2022Q1 us-gaap Debt Instrument Maturity Date
DebtInstrumentMaturityDate
2023-08-23
CY2022Q1 us-gaap Deferred Long Term Liability Charges
DeferredLongTermLiabilityCharges
12020000.00 usd
CY2022Q1 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P5Y
CY2022Q1 migi Lease Extend Term
LeaseExtendTerm
P5Y
CY2022Q1 migi Rent Expenses Percentage
RentExpensesPercentage
0.04 pure
CY2022Q1 us-gaap Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
240000 usd
CY2022Q2 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
usd
CY2021Q2 migi Hosting Co Location Revenue
HostingCoLocationRevenue
usd
migi Hosting Co Location Revenue
HostingCoLocationRevenue
usd
CY2022Q2 migi Sale Of Crypto Currency Mining Equipment
SaleOfCryptoCurrencyMiningEquipment
usd
CY2022Q2 migi Lo2 A Write Off
LO2AWriteOff
usd
CY2021Q2 migi Lo2 A Write Off
LO2AWriteOff
usd
migi Lo2 A Write Off
LO2AWriteOff
usd
CY2021Q2 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
usd
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
usd
CY2021Q2 us-gaap Asset Impairment Charges
AssetImpairmentCharges
usd
us-gaap Asset Impairment Charges
AssetImpairmentCharges
usd
CY2021Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
usd
CY2021Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.12
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
47298702 shares
CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
50264283 shares
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
71598552 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
71790772 shares
CY2021Q2 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
usd
migi Lo2 A Write Offs
LO2AWriteOffs
usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
usd
migi Gain On Disposal Of Fixed Assets
GainOnDisposalOfFixedAssets
usd
migi Increase Decrease Investment Income
IncreaseDecreaseInvestmentIncome
usd
migi Noncontrolling Interest
NoncontrollingInterest
usd
us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
usd
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
usd
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
usd
migi Advances Made To External Companies
AdvancesMadeToExternalCompanies
usd
us-gaap Repayments Of Debt
RepaymentsOfDebt
usd
CY2021Q4 us-gaap Derivative Assets
DerivativeAssets
usd
migi Mandatory Convertible Notes To Exchange Common Stock
MandatoryConvertibleNotesToExchangeCommonStock
shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
47298702 shares
CY2021Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
50264283 shares
CY2022Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
71598552 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
71790772 shares
CY2022Q2 us-gaap Diluted Earnings Per Share Pro Forma
DilutedEarningsPerShareProForma
-0.03
CY2021Q2 us-gaap Diluted Earnings Per Share Pro Forma
DilutedEarningsPerShareProForma
-0.12
us-gaap Diluted Earnings Per Share Pro Forma
DilutedEarningsPerShareProForma
-0.19
us-gaap Diluted Earnings Per Share Pro Forma
DilutedEarningsPerShareProForma
-0.95
CY2021Q2 us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
usd
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
usd
CY2021Q2 migi Interest On Lease Obligations1
InterestOnLeaseObligations1
usd
migi Interest On Lease Obligations1
InterestOnLeaseObligations1
usd
CY2021Q2 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
usd
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Entity Central Index Key
EntityCentralIndexKey
0001218683
CY2021Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
usd

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0001213900-22-050040.txt Edgar Link pending
0001213900-22-050040-xbrl.zip Edgar Link pending
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f10q0622ex99-1_mawson.htm Edgar Link pending
f10q0622ex99-2_mawson.htm Edgar Link pending
f10q0622_mawson.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
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migi-20220630.xsd Edgar Link pending
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migi-20220630_pre.xml Edgar Link unprocessable
migi-20220630_lab.xml Edgar Link unprocessable
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f10q0622_mawson_htm.xml Edgar Link completed
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migi-20220630_cal.xml Edgar Link unprocessable