2024 Q2 Form 10-Q Financial Statement
#000121390024043743 Filed on May 15, 2024
Income Statement
Concept | 2024 Q2 | 2024 Q1 | 2023 Q1 |
---|---|---|---|
Revenue | $13.11M | $18.77M | $7.671M |
YoY Change | 24.27% | 144.72% | -60.51% |
Cost Of Revenue | $8.795M | $11.79M | $4.678M |
YoY Change | 25.13% | 151.95% | -44.39% |
Gross Profit | $4.317M | $6.985M | $2.993M |
YoY Change | 22.55% | 133.41% | -72.82% |
Gross Profit Margin | 32.93% | 37.21% | 39.01% |
Selling, General & Admin | $3.642M | $3.464M | $4.977M |
YoY Change | -41.87% | -30.41% | -27.52% |
% of Gross Profit | 84.36% | 49.59% | 166.32% |
Research & Development | |||
YoY Change | |||
% of Gross Profit | |||
Depreciation & Amortization | $4.600M | $7.999M | $7.963M |
YoY Change | -47.67% | 0.46% | -42.32% |
% of Gross Profit | 106.54% | 114.52% | 266.07% |
Operating Expenses | $11.07M | $14.68M | $14.69M |
YoY Change | -47.73% | -0.08% | -28.94% |
Operating Profit | -$6.757M | -$7.693M | -$11.70M |
YoY Change | -61.74% | -34.23% | 21.1% |
Interest Expense | -$2.814M | $734.6K | $835.1K |
YoY Change | -534.82% | -12.04% | -143.14% |
% of Operating Profit | |||
Other Income/Expense, Net | -$1.109M | -$12.34M | $864.0K |
YoY Change | -162.62% | -1527.76% | 3433.64% |
Pretax Income | -$7.866M | -$20.03M | -$10.83M |
YoY Change | -50.51% | 84.89% | -6.37% |
Income Tax | $1.753M | -$59.39K | $548.1K |
% Of Pretax Income | |||
Net Earnings | -$9.619M | -$19.76M | -$11.10M |
YoY Change | -44.54% | 78.02% | -2.06% |
Net Earnings / Revenue | -73.36% | -105.29% | -144.73% |
Basic Earnings Per Share | -$0.55 | -$1.19 | -$0.80 |
Diluted Earnings Per Share | -$0.55 | -$1.19 | -$0.80 |
COMMON SHARES | |||
Basic Shares Outstanding | 17.52M shares | 16.64M shares | 14.13M shares |
Diluted Shares Outstanding | 13.95M shares |
Balance Sheet
Concept | 2024 Q2 | 2024 Q1 | 2023 Q1 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $6.782M | $6.373M | $1.387M |
YoY Change | 20.95% | 359.38% | -76.1% |
Cash & Equivalents | $6.780M | $6.373M | $1.387M |
Short-Term Investments | |||
Other Short-Term Assets | $5.354M | $4.242M | $7.406M |
YoY Change | 49.36% | -42.72% | 275.93% |
Inventory | |||
Prepaid Expenses | $5.354M | $4.242M | $1.931M |
Receivables | $11.19M | $13.24M | $7.950M |
Other Receivables | $0.00 | $0.00 | $0.00 |
Total Short-Term Assets | $23.33M | $23.86M | $16.74M |
YoY Change | 49.59% | 42.49% | 30.61% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $33.64M | $36.37M | $84.56M |
YoY Change | -57.16% | -56.99% | -43.24% |
Goodwill | |||
YoY Change | |||
Intangibles | |||
YoY Change | |||
Long-Term Investments | $102.2K | $12.63M | |
YoY Change | -99.19% | 3650.18% | |
Other Assets | $4.433M | $6.160M | $224.1K |
YoY Change | 945.44% | 2649.21% | -94.16% |
Total Long-Term Assets | $42.30M | $43.85M | $99.99M |
YoY Change | -52.57% | -56.14% | -34.71% |
TOTAL ASSETS | |||
Total Short-Term Assets | $23.33M | $23.86M | $16.74M |
Total Long-Term Assets | $42.30M | $43.85M | $99.99M |
Total Assets | $65.63M | $67.71M | $116.7M |
YoY Change | -37.36% | -41.99% | -29.67% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $36.04M | $34.20M | $24.18M |
YoY Change | 42.26% | 41.44% | 72.76% |
Accrued Expenses | $1.319M | $888.6K | $1.398M |
YoY Change | -20.04% | -36.42% | -0.88% |
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $0.00 | $0.00 | $22.94M |
YoY Change | -100.0% | -100.0% | 43.07% |
Long-Term Debt Due | $20.12M | $19.13M | $31.28K |
YoY Change | 63065.48% | 61042.63% | 8.01% |
Total Short-Term Liabilities | $57.82M | $54.24M | $48.55M |
YoY Change | 20.74% | 11.73% | 54.27% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $393.2K | $41.51K | $75.19K |
YoY Change | 486.81% | -44.79% | -99.72% |
Other Long-Term Liabilities | $3.004M | $410.2K | $1.371M |
YoY Change | 103.16% | -70.08% | -61.06% |
Total Long-Term Liabilities | $393.2K | $41.51K | $1.446M |
YoY Change | -74.56% | -97.13% | -95.27% |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $57.82M | $54.24M | $48.55M |
Total Long-Term Liabilities | $393.2K | $41.51K | $1.446M |
Total Liabilities | $61.22M | $54.70M | $50.00M |
YoY Change | 23.83% | 9.4% | -18.89% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$212.1M | -$202.4M | -$133.4M |
YoY Change | 40.71% | 51.79% | |
Common Stock | $17.52K | $16.65K | $14.13K |
YoY Change | 6.46% | 17.79% | |
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $4.404M | $13.01M | $67.88M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $65.63M | $67.71M | $116.7M |
YoY Change | -37.36% | -41.99% | -29.67% |
Cashflow Statement
Concept | 2024 Q2 | 2024 Q1 | 2023 Q1 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$9.619M | -$19.76M | -$11.10M |
YoY Change | -44.54% | 78.02% | -2.06% |
Depreciation, Depletion And Amortization | $4.600M | $7.999M | $7.963M |
YoY Change | -47.67% | 0.46% | -42.32% |
Cash From Operating Activities | $2.469M | $1.876M | $1.317M |
YoY Change | -144.82% | 42.46% | -77.55% |
INVESTING ACTIVITIES | |||
Capital Expenditures | $1.876M | $19.36K | $3.149M |
YoY Change | 10.2% | -99.39% | -110.62% |
Acquisitions | |||
YoY Change | |||
Other Investing Activities | -$69.45K | $550.0K | $7.218M |
YoY Change | -100.83% | -92.38% | |
Cash From Investing Activities | -$1.946M | $530.6K | $4.069M |
YoY Change | -129.05% | -86.96% | -113.72% |
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | |||
YoY Change | |||
Debt Paid & Issued, Net | $500.0K | $5.398M | |
YoY Change | -90.74% | ||
Cash From Financing Activities | -113.9K | -$509.5K | -$4.936M |
YoY Change | -103.74% | -89.68% | -121.02% |
NET CHANGE | |||
Cash From Operating Activities | 2.469M | $1.876M | $1.317M |
Cash From Investing Activities | -1.946M | $530.6K | $4.069M |
Cash From Financing Activities | -113.9K | -$509.5K | -$4.936M |
Net Change In Cash | 409.1K | $1.897M | $441.1K |
YoY Change | -90.33% | 330.04% | -242.04% |
FREE CASH FLOW | |||
Cash From Operating Activities | $2.469M | $1.876M | $1.317M |
Capital Expenditures | $1.876M | $19.36K | $3.149M |
Free Cash Flow | $592.4K | $1.856M | -$1.832M |
YoY Change | -108.21% | -201.31% | -105.16% |
Facts In Submission
Frame | Concept Type | Concept / XBRL Key | Value | Unit |
---|---|---|---|---|
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Earnings Per Share Diluted
EarningsPerShareDiluted
|
-1.19 | |
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usd | |
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10-Q | |
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true | |
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2024-03-31 | |
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2024 | |
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Entity File Number
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001-40849 | |
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Mawson Infrastructure Group Inc. | |
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DE | |
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88-0445167 | |
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950 Railroad Avenue | |
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Midland | |
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PA | |
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Common Stock, par value $0.001 per share | |
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CY2024Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-19764199 | usd |
CY2023Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-11102025 | usd |
CY2024Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-1.19 | |
CY2023Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.8 | |
CY2024Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
16644711 | shares |
CY2023Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
13953308 | shares |
CY2024Q1 | us-gaap |
Profit Loss
ProfitLoss
|
-19969285 | usd |
CY2023Q1 | us-gaap |
Profit Loss
ProfitLoss
|
-11380958 | usd |
CY2024Q1 | us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
-482143 | usd |
CY2023Q1 | us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
131733 | usd |
CY2024Q1 | us-gaap |
Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
|
-20451428 | usd |
CY2023Q1 | us-gaap |
Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
|
-11249225 | usd |
CY2024Q1 | us-gaap |
Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
|
-205086 | usd |
CY2023Q1 | us-gaap |
Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
|
-278933 | usd |
CY2024Q1 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-20246342 | usd |
CY2023Q1 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-10970292 | usd |
CY2023Q4 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
30384630 | usd |
CY2024Q1 | us-gaap |
Noncontrolling Interest Decrease From Deconsolidation
NoncontrollingInterestDecreaseFromDeconsolidation
|
889659 | usd |
CY2024Q1 | us-gaap |
Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
|
3970549 | usd |
CY2024Q1 | us-gaap |
Profit Loss
ProfitLoss
|
-19969285 | usd |
CY2024Q1 | us-gaap |
Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
|
-482143 | usd |
CY2024Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
13014092 | usd |
CY2022Q4 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
76166120 | usd |
CY2023Q1 | us-gaap |
Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
|
647973 | usd |
CY2023Q1 | us-gaap |
Adjustments To Additional Paid In Capital Warrant Issued
AdjustmentsToAdditionalPaidInCapitalWarrantIssued
|
500500 | usd |
CY2023Q1 | us-gaap |
Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
|
196774 | usd |
CY2023Q1 | us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
471379 | usd |
CY2023Q1 | us-gaap |
Profit Loss
ProfitLoss
|
-11380958 | usd |
CY2023Q1 | us-gaap |
Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
|
131733 | usd |
CY2023Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
66733521 | usd |
CY2024Q1 | us-gaap |
Profit Loss
ProfitLoss
|
-19969285 | usd |
CY2023Q1 | us-gaap |
Profit Loss
ProfitLoss
|
-11380958 | usd |
CY2024Q1 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
7999076 | usd |
CY2023Q1 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
7962523 | usd |
CY2024Q1 | us-gaap |
Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
|
355688 | usd |
CY2023Q1 | us-gaap |
Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
|
338781 | usd |
CY2024Q1 | us-gaap |
Foreign Currency Transaction Gain Loss Unrealized
ForeignCurrencyTransactionGainLossUnrealized
|
89450 | usd |
CY2023Q1 | us-gaap |
Foreign Currency Transaction Gain Loss Unrealized
ForeignCurrencyTransactionGainLossUnrealized
|
-386952 | usd |
CY2024Q1 | migi |
Stock Based Compensation
StockBasedCompensation
|
3970549 | usd |
CY2024Q1 | migi |
Promissory Note
PromissoryNote
|
8000000 | usd |
CY2024Q1 | us-gaap |
Deposits
Deposits
|
15330000 | usd |
CY2023Q1 | migi |
Stock Based Compensation
StockBasedCompensation
|
1068288 | usd |
CY2024Q1 | us-gaap |
Other Noncash Expense
OtherNoncashExpense
|
669183 | usd |
CY2023Q1 | us-gaap |
Other Noncash Expense
OtherNoncashExpense
|
439635 | usd |
CY2024Q1 | us-gaap |
Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
|
1686152 | usd |
CY2023Q1 | us-gaap |
Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
|
-681225 | usd |
CY2024Q1 | us-gaap |
Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
|
-11925908 | usd |
CY2023Q1 | us-gaap |
Marketable Securities Unrealized Gain Loss
MarketableSecuritiesUnrealizedGainLoss
|
1437230 | usd |
CY2024Q1 | us-gaap |
Gain Loss On Termination Of Lease
GainLossOnTerminationOfLease
|
35483 | usd |
CY2023Q1 | us-gaap |
Equity Method Investment Realized Gain Loss On Disposal
EquityMethodInvestmentRealizedGainLossOnDisposal
|
-36122 | usd |
CY2024Q1 | us-gaap |
Gain Loss On Sale Of Properties
GainLossOnSaleOfProperties
|
51185 | usd |
CY2023Q1 | us-gaap |
Gain Loss On Sale Of Properties
GainLossOnSaleOfProperties
|
-77603 | usd |
CY2023Q1 | us-gaap |
Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
|
-118933 | usd |
CY2024Q1 | us-gaap |
Increase Decrease In Accounts And Other Receivables
IncreaseDecreaseInAccountsAndOtherReceivables
|
1137650 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Accounts And Other Receivables
IncreaseDecreaseInAccountsAndOtherReceivables
|
-981569 | usd |
CY2024Q1 | us-gaap |
Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
|
-364965 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
|
-340156 | usd |
CY2024Q1 | us-gaap |
Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
|
685775 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
|
-3829172 | usd |
CY2024Q1 | us-gaap |
Increase Decrease In Other Accounts Payable
IncreaseDecreaseInOtherAccountsPayable
|
975188 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Other Accounts Payable
IncreaseDecreaseInOtherAccountsPayable
|
-1445868 | usd |
CY2024Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
1875647 | usd |
CY2023Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
1316591 | usd |
CY2024Q1 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
19360 | usd |
CY2023Q1 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
3148946 | usd |
CY2024Q1 | us-gaap |
Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
|
550000 | usd |
CY2023Q1 | us-gaap |
Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
|
1010692 | usd |
CY2023Q1 | us-gaap |
Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
|
6207548 | usd |
CY2024Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
530640 | usd |
CY2023Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
4069294 | usd |
CY2023Q1 | us-gaap |
Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
|
471379 | usd |
CY2024Q1 | us-gaap |
Finance Lease Principal Payments
FinanceLeasePrincipalPayments
|
9544 | usd |
CY2023Q1 | us-gaap |
Finance Lease Principal Payments
FinanceLeasePrincipalPayments
|
9543 | usd |
CY2024Q1 | us-gaap |
Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
|
500000 | usd |
CY2023Q1 | us-gaap |
Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
|
5397550 | usd |
CY2024Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-509544 | usd |
CY2023Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-4935714 | usd |
CY2023Q1 | us-gaap |
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
-9110 | usd |
CY2024Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
1896743 | usd |
CY2023Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
441061 | usd |
CY2023Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
4476339 | usd |
CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
946265 | usd |
CY2024Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
6373082 | usd |
CY2023Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
1387326 | usd |
CY2024Q1 | us-gaap |
Interest Paid Net
InterestPaidNet
|
65397 | usd |
CY2023Q1 | us-gaap |
Interest Paid Net
InterestPaidNet
|
395472 | usd |
CY2023Q1 | migi |
Recognition Of Right Of Use Operating Asset And Lease Liability
RecognitionOfRightOfUseOperatingAssetAndLeaseLiability
|
82879 | usd |
CY2023Q1 | migi |
Accrued Interest On Convertible Notes Settled In Common Stock
AccruedInterestOnConvertibleNotesSettledInCommonStock
|
276959 | usd |
CY2024Q1 | us-gaap |
Nature Of Operations
NatureOfOperations
|
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>NOTE 1 – GENERAL </b></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"><b>Nature of Operations</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b> </b></p> <p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Mawson Infrastructure Group Inc. (“Mawson,” the “Company,” “we,” “us,” and “our”) is a digital infrastructure company headquartered in the United States.</p> <p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Mawson is a corporation incorporated in Delaware in 2012. On March 9, 2021, the Company acquired the shares of Cosmos Capital Limited in a stock for stock exchange. This transaction has been accounted for as a reverse asset acquisition. Mawson was previously known as Wize Pharma Inc, and changed its name on March 17, 2021. Shares of Mawson’s common stock, par value $0.001 per share (“Common Stock”) have been listed on The Nasdaq Capital Market since September 29, 2021.</p> <p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company has 3 primary businesses – digital currency or Bitcoin self-mining, co-location and related services, and energy markets.</p> <p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Throughout this filing, we use the term Bitcoin (with a capital “B”) to represent the overall concept of Bitcoin, including the technology, protocol, and the entire ecosystem. The term bitcoin (with a lower case “b”) refers to the digital bitcoin currency or token.</p> <p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company develops and operates digital infrastructure for digital currency, such as bitcoin, mining activities on the Bitcoin blockchain network. The Company also provides digital infrastructure services for its co-location customers that use computational machines to mine bitcoin through our data centers and the Company charges for the use of its digital infrastructure and related services. The Company also has an energy markets program through which it can receive net energy benefits in exchange for curtailing the power the Company utilizes from the grid in response to instances of high electricity demand.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company may also transact in digital currency mining, data center infrastructure and related equipment on a periodic basis, subject to prevailing market conditions. The Company designs, develops, operates, and manages its digital infrastructure to responsibly support the Bitcoin network by contributing to the scale, structure, and decentralization of the Bitcoin network and optimizing energy consumption. The Company helps contribute to the ecosystem and growth of digital currencies and commodities as there continues to be a global transition to the new digital economy.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company strives to operate and invest in markets and communities that offer low or zero carbon renewable energy sources and participate in energy management activities. We invest in the communities in which we operate and also support our broader ecosystem.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company manages and operates data centers delivering a current capacity of approximately 109 MW with its current operational sites in the United States of America.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company has previously reported through an 8-K filing on March 29, 2024 that the Company may seek to exit certain or all of its entities and holdings in Australia. The accompanying consolidated condensed unaudited interim financial statements, including the results of a number of the Company’s Australian subsidiaries: Cosmos Trading Pty Ltd, Cosmos Infrastructure LLC, Cosmos Manager LLC, MIG No.1 Pty Ltd (on March 19, 2024, an Australian entity MIG No.1 Pty Ltd was placed into a Australian court appointed liquidation and wind-up process, as disclosed in note 3), MIG No.1 LLC, Mawson AU Pty Ltd (on April 23, 2024, an Australian entity Mawson AU Pty Ltd was placed into a Australian court appointed liquidation and wind-up process, as disclosed in note 10 subsequent events), an Australian entity Mawson Services Pty Ltd (on April 29, 2024, Mawson Services Pty Ltd was placed into a Australian court appointed liquidation and wind-up process, as disclosed in note 10 subsequent events), Luna Squares LLC, Mawson Bellefonte LLC, Luna Squares Repairs LLC, Luna Squares Property LLC, Mawson Midland LLC, Mawson Hosting LLC, Mawson Ohio LLC and Mawson Mining LLC (collectively referred to as the “Group”), have been prepared by the Company, pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”) and in accordance with generally accepted accounting principles in the United States (“GAAP”).</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">These consolidated, condensed unaudited interim financial statements should be read in conjunction with the audited consolidated financial statements of the Group as of December 31, 2023, and the notes thereto, included in the Company’s Annual Report on Form 10-K filed with SEC on April 1, 2024. Accordingly, they do not include all the information and footnotes required by GAAP for complete financial statements. The results of the interim period are not necessarily indicative of the results to be expected for the full year ending December 31, 2024. These consolidated, condensed unaudited interim financial statements reflect all adjustments which, in the opinion of management, are necessary to present fairly the financial position, the results of operations and cash flows of the Company for the periods presented.</p> <p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; "><b>Going Concern</b></p> <p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; "> </p> <p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The accompanying consolidated, condensed unaudited interim financial statements have been prepared assuming the Company will continue as a going concern basis and in accordance with GAAP. The going concern basis of presentation assumes that the Company will continue in operation one year after the date these financial statements are issued and will be able to realize its assets and discharge its liabilities and commitments in the normal course of business.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Pursuant to the requirements of the Financial Accounting Standards Board’s Accounting Standards Codification (“ASC”) Topic 205-40, <i>Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern</i>, management must evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the Company’s ability to continue as a going concern for one year from the date these financial statements are issued. This evaluation does not take into consideration the potential mitigating effect of management’s plans that have not been fully implemented or are not within control of the Company as of the date the financial statements are issued. When substantial doubt exists under this methodology, management evaluates whether the mitigating effect of its plans sufficiently alleviates substantial doubt about the Company’s ability to continue as a going concern. The mitigating effect of management’s plans, however, is only considered if both (1) it is probable that the plans will be effectively implemented within one year after the date that the financial statements are issued, and (2) it is probable that the plans, when implemented, will mitigate the relevant conditions or events that raise substantial doubt about the entity’s ability to continue as a going concern within one year after the date that the financial statements are issued.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For the three months ended March 31, 2024, the Company incurred a loss after tax of $19.76 million, and as of March 31, 2024, had negative working capital of $30.39 million, had total net assets of $13.01 million and had an accumulated deficit of $202.43 million. The Company’s cash position as of March 31, 2024, was $6.37 million.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Bitcoin prices can be volatile and the difficulty of earning bitcoin has typically trended higher over time, which means the Company typically earns less bitcoin for the same effort. In addition, the rewards that bitcoin miners earn halved (not including transaction fees) during April 2024. These factors are outside the Company’s direct control, and the Company may not be able to practically mitigate their impact. The Company cannot predict with any certainty whether these trends will reverse or persist. In addition, the Company’s miners and other mining equipment will require replacement over time as they come to the end of their useful lives to ensure that the Company can continue to competitively and efficiently produce bitcoin.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Customer Equipment Co-Location Agreement the Company’s subsidiary, Luna Squares LLC (“Luna”), had with Celsius Mining LLC (the “Co-Location Agreement”), expired on August 23, 2023. Celsius Mining LLC is currently in default on payments under the Co-Location Agreement to Luna. On July 13, 2022, Celsius Mining LLC and its other affiliated debtors (collectively here “Celsius”) filed for bankruptcy relief under Chapter 11 in the United States Bankruptcy Court. Celsius has failed to pay approximately $6.95 million of unpaid co-location invoices, but due to Celsius’s Ch. 11 bankruptcy, $1.84 million of that $6.95 million are considered pre-petition amounts, for which Luna is a general unsecured creditor, and $5.11 million of that $6.95 million are considered post-petition amounts due and payable to Luna for which Luna has filed a proof of claim. Celsius has commenced the process of making distributions under its plan approved by the Court on January 31, 2024. Luna expects payment of its claims and continues to monitor the status of this matter.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In addition, Celsius and Luna have made certain allegations and counter-allegations against each other claiming it is owed approximately $8 million under the promissory note and claiming entitlement to return of $15.33 million paid as deposit. Mawson denies that Celsius is entitled to the relief it seeks in the adversary proceeding and is actively defending the matter. As of May 1, 2024 and pursuant to a court order dated April 22, 2024, the Celsius civil lawsuit against Luna and Mawson has been dismissed pursuant to the Company’s successful motion to compete arbitration. Currently, no arbitration proceedings or further appeals have been filed by either party.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">A subsidiary of the Company, MIG No. 1 Pty Ltd (“MIG No.1”) has a Secured Loan Facility Agreement with Marshall Investments GCP Pty Ltd ATF for the Marshall Investments MIG Trust (“Marshall”). The loan matured in February 2024 and the total outstanding balance is $9.09 million as of March 31, 2024. MIG No. 1 Pty Ltd, an Australian entity, has not made a principal and interest payment since May 2023. Marshall and MIG No. 1 Pty Ltd have each reserved their rights. On March 18, 2024, MIG No.1 Pty Ltd was placed into a court appointed liquidation and wind-up process and was deconsolidated from the group on this date, see Note 3.</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; text-align: justify">The Company is the guarantor on a Secured Loan Facility Agreement for working capital by Mawson Infrastructure Group Pty Ltd with W Capital Advisors Pty Ltd. As of March 31, 2024, AUD $1.77 million (USD $1.13 million) has been drawn down from this facility. The Secured Loan Facility expired in March 2023. This Secured Loan Facility Agreement was entered into with an Australian entity Mawson Infrastructure Group Pty Ltd, this company was placed into Australian voluntary administration on October 30, 2023 and on November 3, 2023, W Capital Advisors appointed receivers and managers in Australia under the terms of their security relating to their working capital facility.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company, or its subsidiaries, have not fulfilled specific payment obligations related to the Celsius Promissory Note, Marshall loan and the W Capital Working Capital Loan mentioned above. Consequently, the creditors associated with these debt facilities may initiate actions as allowed by relevant grace periods. This includes the possibility of opting to expedite the repayment of the principal debt, pursuing legal action against the Company or its subsidiaries for payment default, raising interest rates to the default or overdue rate, or taking appropriate measures concerning collateral (including appointing a receiver), if applicable.</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; text-align: justify">The Company has evaluated the above conditions and concluded that these conditions raise substantial doubt regarding our ability to continue as a going concern for a period of at least one year from the date of issuance of these consolidated financial statements.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> To mitigate these conditions, the Company has explored various avenues to enhance liquidity, fund the Company’s expenditures, and meet debt servicing requirements. These strategies include, among others:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: top"> <td style="width: 0.5in"> </td> <td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Executing and implementing further new customer co-location service agreements;</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: top"> <td style="width: 0.5in"> </td> <td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Engaging in discussions with new and existing lenders, including related to refinancing debt, raising additional debt, or modifying terms of existing debt;</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: top"> <td style="width: 0.5in"> </td> <td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Considering equity issuances such as capital raises;</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: top"> <td style="width: 0.5in"> </td> <td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Assessing and evaluating corporate and strategic transactions including engagement of an investment bank;</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: top"> <td style="width: 0.5in"> </td> <td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Assessing and evaluating monetizing specific assets, including potential sales of mining infrastructure equipment, miners, operational sites, or expansion locations under consideration; and</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: top"> <td style="width: 0.5in"> </td> <td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Conducting assessments to identify and implement operational efficiencies, cost-cutting measures, and other actions aimed at enhancing revenue and optimizing expenses.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Although the Company may have access to debt, equity, and other sources of funding, these may require additional time and cost, may impose operational restrictions and other covenants on the Company, may not be available on attractive terms, and may not be available at all. If the Company raises additional capital or debt, this could cause additional dilution to the Company’s current stockholders. The terms of any future capital raise or debt issuance and the costs of any financing are uncertain and may be unfavorable to the Company and the Company’s current stockholders. Should the Company be unable to source sufficient funding, the Company may not be able to realize assets at their recognized values and fulfill its liabilities in the normal course of business at the amounts stated in these consolidated financial statements.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As previously reported, the Company has engaged Needham and Company, an investment bank, and is obtaining advice from outside legal counsel. It is important to note that strategic and other initiatives may not lead to any transaction or other outcome.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">These consolidated, condensed unaudited interim financial statements have been prepared on a going concern basis, which contemplates the realization of assets and satisfaction of liabilities and other commitments in the normal course of business. They do not include any adjustments relating to the recoverability and carrying amounts of assets and the amounts of liabilities should the Company be unable to continue as a going concern and meet its obligations and debts as and when they fall due.</p> | |
CY2024Q1 | us-gaap |
Interest Costs Incurred
InterestCostsIncurred
|
19760000 | usd |
CY2024Q1 | migi |
Negative Working Capital
NegativeWorkingCapital
|
30390000 | usd |
CY2024Q1 | us-gaap |
Assets Net
AssetsNet
|
13010000.00 | usd |
CY2024Q1 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-202430000 | usd |
CY2024Q1 | us-gaap |
Cash Available For Distributions
CashAvailableForDistributions
|
6370000 | usd |
CY2024Q1 | migi |
Amount Failedtopayof Pre And Post Petition
AmountFailedtopayofPreAndPostPetition
|
6950000 | usd |
CY2024Q1 | 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; text-align: justify">The preparation of the financial statements in conformity with GAAP requires management to make estimates, judgments and assumptions that affect the amounts reported in the financial statements and accompanying notes. 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, valuing the derivative asset classified under Level 3 fair value hierarchy, and the contingent obligation with respect to future revenues.</p> | |
CY2024Q1 | us-gaap |
Derivative Assets Noncurrent
DerivativeAssetsNoncurrent
|
5744241 | usd |
CY2023Q4 | us-gaap |
Derivative Assets Noncurrent
DerivativeAssetsNoncurrent
|
4058088 | usd |
CY2024Q1 | migi |
Power Supply Agreement Discount Rate
PowerSupplyAgreementDiscountRate
|
0.20 | pure |
CY2024Q1 | migi |
Treasury Bond Term
TreasuryBondTerm
|
P5Y | |
CY2023Q4 | migi |
Digital Currencies Balance
DigitalCurrenciesBalance
|
0 | usd |
CY2022Q4 | migi |
Digital Currencies Balance
DigitalCurrenciesBalance
|
0 | usd |
CY2024Q1 | migi |
Additions Of Digital Currencies1
AdditionsOfDigitalCurrencies1
|
140.2 | usd |
CY2023Q1 | migi |
Additions Of Digital Currencies1
AdditionsOfDigitalCurrencies1
|
121.11 | usd |
CY2024Q1 | migi |
Sale Of Digital Currencies1
SaleOfDigitalCurrencies1
|
-140.2 | usd |
CY2023Q1 | migi |
Sale Of Digital Currencies1
SaleOfDigitalCurrencies1
|
-120.09 | usd |
CY2024Q1 | migi |
Digital Currencies Balance
DigitalCurrenciesBalance
|
0 | usd |
CY2023Q1 | migi |
Digital Currencies Balance
DigitalCurrenciesBalance
|
1.02 | usd |
CY2024Q1 | us-gaap |
Deconsolidation Revaluation Of Retained Investment Gain Or Loss Amount
DeconsolidationRevaluationOfRetainedInvestmentGainOrLossAmount
|
0 | usd |
CY2024Q1 | us-gaap |
Product Warranty Liquidation Proceeds Amount
ProductWarrantyLiquidationProceedsAmount
|
1240000 | usd |
CY2024Q1 | us-gaap |
Assets Average Outstanding
AssetsAverageOutstanding
|
9090000.00 | usd |
CY2024Q1 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
15477754 | shares |
CY2023Q1 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
3129145 | shares |
CY2024Q1 | us-gaap |
Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
|
8143 | usd |
CY2023Q1 | us-gaap |
Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
|
8143 | usd |
CY2024Q1 | us-gaap |
Finance Lease Interest Expense
FinanceLeaseInterestExpense
|
1507 | usd |
CY2023Q1 | us-gaap |
Finance Lease Interest Expense
FinanceLeaseInterestExpense
|
2080 | usd |
CY2024Q1 | us-gaap |
Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
|
920838 | usd |
CY2024Q1 | us-gaap |
Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
|
28633 | usd |
CY2024Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
|
325554 | usd |
CY2024Q1 | us-gaap |
Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
|
38176 | usd |
CY2024Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
|
155969 | usd |
CY2024Q1 | us-gaap |
Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
|
15016 | usd |
CY2024Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
|
1402361 | usd |
CY2024Q1 | us-gaap |
Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
|
81825 | usd |
CY2024Q1 | us-gaap |
Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
|
103559 | usd |
CY2024Q1 | us-gaap |
Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
|
6638 | usd |
CY2024Q1 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
1298802 | usd |
CY2024Q1 | us-gaap |
Finance Lease Liability
FinanceLeaseLiability
|
75187 | usd |
CY2024Q1 | us-gaap |
Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
|
888637 | usd |
CY2024Q1 | us-gaap |
Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
|
33677 | usd |
CY2024Q1 | us-gaap |
Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
|
410165 | usd |
CY2024Q1 | us-gaap |
Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
|
41510 | usd |
CY2024Q1 | us-gaap |
Operating Lease Payments
OperatingLeasePayments
|
258879 | usd |
CY2024Q1 | us-gaap |
Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
|
9544 | usd |
CY2022Q1 | us-gaap |
Long Term Debt Percentage Bearing Variable Interest Rate
LongTermDebtPercentageBearingVariableInterestRate
|
0.12 | pure |
CY2022Q1 | us-gaap |
Long Term Debt Percentage Bearing Fixed Interest Rate
LongTermDebtPercentageBearingFixedInterestRate
|
0.15 | pure |
CY2024Q1 | us-gaap |
Line Of Credit Facility Maximum Amount Outstanding During Period
LineOfCreditFacilityMaximumAmountOutstandingDuringPeriod
|
8820000 | usd |
CY2024Q1 | us-gaap |
Payments For Deposits
PaymentsForDeposits
|
15330000 | usd |
CY2024Q1 | us-gaap |
Participating Mortgage Loans Unamortized Debt Discount Amount
ParticipatingMortgageLoansUnamortizedDebtDiscountAmount
|
1770000 | aud |
CY2024Q1 | us-gaap |
Participating Mortgage Loans Unamortized Debt Discount Amount
ParticipatingMortgageLoansUnamortizedDebtDiscountAmount
|
1130000 | usd |
CY2024Q1 | us-gaap |
Long Term Debt Percentage Bearing Variable Interest Rate
LongTermDebtPercentageBearingVariableInterestRate
|
0.12 | pure |
CY2024Q1 | us-gaap |
Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
|
P1Y5M23D | |
CY2024Q1 | us-gaap |
Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
|
P2Y1M24D | |
CY2024Q1 | us-gaap |
Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
|
0.10 | pure |
CY2024Q1 | us-gaap |
Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
|
0.075 | pure |
CY2024Q1 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
119652245 | usd |
CY2023Q4 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
149825787 | usd |
CY2024Q1 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
83282367 | usd |
CY2023Q4 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
92085496 | usd |
CY2024Q1 | us-gaap |
Property Plant And Equipment Other Net
PropertyPlantAndEquipmentOtherNet
|
36369878 | usd |
CY2023Q4 | us-gaap |
Property Plant And Equipment Other Net
PropertyPlantAndEquipmentOtherNet
|
57740291 | usd |
CY2024Q1 | us-gaap |
Other Depreciation And Amortization
OtherDepreciationAndAmortization
|
7990000 | usd |
CY2023Q1 | us-gaap |
Other Depreciation And Amortization
OtherDepreciationAndAmortization
|
7960000 | usd |
CY2024Q1 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.003 | pure |
CY2023Q1 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0 | pure |
CY2024Q1 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.003 | pure |
CY2023Q1 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0 | pure |
CY2024Q1 | srt |
Interest Bearing Liabilities Average Rate Paid
InterestBearingLiabilitiesAverageRatePaid
|
0.12 | pure |
CY2024Q1 | us-gaap |
Borrowings Under Guaranteed Investment Agreements
BorrowingsUnderGuaranteedInvestmentAgreements
|
910000 | usd |
CY2024Q1 | us-gaap |
Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
|
4904016 | shares |
CY2024Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
|
11.07 | |
CY2024Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Description
ShareBasedCompensationArrangementByShareBasedPaymentAwardDescription
|
Under the 2018 Equity Plan, the number of shares issuable under the Plan on the first day of each fiscal year increase by an amount equal to the lower of (i) 100,000 shares (after a later 10 for 1 stock split) or (ii) 5% of the outstanding shares on the last day of the immediately preceding fiscal year. At the Company’s annual meeting on May 17, 2023, the stockholders approved an amendment to the 2021 Equity Plan that, amongst other things, increased the number of the shares available under the 2021 Equity Plan to 10,000,000 shares, and the shares available under the 2021 Equity Plan increased by 1,000,000 shares on January 1, 2024 to 11,000,000. Upon review of the previously granted shares in previous years and the availability of shares, on April 9, 2024, the Board of Directors approved the 2024 Omnibus Equity Plan which will provide an initial 10,000,000 shares of common stock available for grant per the terms of the 2024 Plan and provides alignment with long-term stockholder value creation. The 2024 Omnibus Equity Plan as approved by the Board of Directors has subsequently been presented to the stockholders for adoption and approval at the Company’s annual general meeting to be held on June 12, 2024. | |
CY2024Q1 | migi |
Performancebased Restricted Stock Awards
PerformancebasedRestrictedStockAwards
|
55983 | usd |
CY2023Q1 | migi |
Performancebased Restricted Stock Awards
PerformancebasedRestrictedStockAwards
|
166779 | usd |
CY2024Q1 | migi |
Servicebased Restricted Stock Awards
ServicebasedRestrictedStockAwards
|
6180528 | usd |
CY2023Q1 | migi |
Servicebased Restricted Stock Awards
ServicebasedRestrictedStockAwards
|
29995 | usd |
CY2023Q1 | migi |
Stock Issued To Consultants
StockIssuedToConsultants
|
371014 | usd |
CY2023Q1 | us-gaap |
Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
|
500500 | usd |
CY2024Q1 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
-1335027 | usd |
CY2024Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
4901484 | usd |
CY2023Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
1068288 | usd |
CY2024Q1 | migi |
Shares Based Compensation
sharesBasedCompensation
|
3970000 | usd |
CY2024Q1 | migi |
Stock Based Compensation Surrendered Shares
StockBasedCompensationSurrenderedShares
|
930000 | usd |
CY2024Q1 | us-gaap |
Restricted Stock Shares Issued Net Of Shares For Tax Withholdings
RestrictedStockSharesIssuedNetOfSharesForTaxWithholdings
|
75545 | shares |
CY2024Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
|
44327 | shares |
CY2024Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
|
P4Y5M12D | |
CY2024Q1 | ecd |
Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
|
false | |
CY2024Q1 | ecd |
Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
|
false | |
CY2024Q1 | ecd |
Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
|
false | |
CY2024Q1 | ecd |
Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
|
false | |
CY2024Q1 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
usd | |
CY2023Q4 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
usd | |
CY2024Q1 | us-gaap |
Minority Interest
MinorityInterest
|
usd | |
CY2024Q1 | migi |
Loss On Write Off Property Plant And Equipment
LossOnWriteOffPropertyPlantAndEquipment
|
usd | |
CY2024Q1 | us-gaap |
Marketable Securities Unrealized Gain Loss
MarketableSecuritiesUnrealizedGainLoss
|
usd | |
CY2023Q1 | us-gaap |
Other Nonoperating Expense
OtherNonoperatingExpense
|
usd | |
CY2023Q1 | us-gaap |
Deconsolidation Gain Or Loss Amount
DeconsolidationGainOrLossAmount
|
usd | |
CY2024Q1 | us-gaap |
Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
|
usd | |
CY2023Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.80 | |
CY2023Q1 | us-gaap |
Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
|
usd | |
CY2024Q1 | us-gaap |
Marketable Securities Unrealized Gain Loss
MarketableSecuritiesUnrealizedGainLoss
|
usd | |
CY2023Q1 | us-gaap |
Gain Loss On Termination Of Lease
GainLossOnTerminationOfLease
|
usd | |
CY2024Q1 | us-gaap |
Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
|
usd | |
CY2024Q1 | us-gaap |
Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
|
usd | |
CY2024Q1 | us-gaap |
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
usd | |
CY2024Q1 | us-gaap |
Income Taxes Paid
IncomeTaxesPaid
|
usd | |
CY2023Q1 | us-gaap |
Income Taxes Paid
IncomeTaxesPaid
|
usd | |
CY2024Q1 | migi |
Recognition Of Right Of Use Operating Asset And Lease Liability
RecognitionOfRightOfUseOperatingAssetAndLeaseLiability
|
usd | |
CY2024Q1 | migi |
Accrued Interest On Convertible Notes Settled In Common Stock
AccruedInterestOnConvertibleNotesSettledInCommonStock
|
usd | |
CY2024Q1 | us-gaap |
Impairment Charge On Reclassified Assets
ImpairmentChargeOnReclassifiedAssets
|
usd | |
CY2023Q1 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
usd | |
CY2024Q1 | dei |
Amendment Flag
AmendmentFlag
|
false | |
CY2024Q1 | dei |
Current Fiscal Year End Date
CurrentFiscalYearEndDate
|
--12-31 | |
CY2024Q1 | dei |
Document Fiscal Period Focus
DocumentFiscalPeriodFocus
|
Q1 | |
CY2024Q1 | dei |
Entity Central Index Key
EntityCentralIndexKey
|
0001218683 |