v3.10.0.1
Condensed Interim Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Cash flows from operating activities    
Net loss $ (40,999,188) $ (5,665,547)
Income (loss) from discontinued operations 96,132 (3,594,798)
Loss from continuing operations (41,095,320) (2,070,749)
Adjustments to reconcile net loss from continuing operations to net cash used in operating activities of continuing operations :    
Stock-based compensation 2,492,029 271,054
Depreciation and amortization 5,027,326 37,767
Deferred income tax benefit (3,525,000)
Amortization of license fee revenue (48,349) (48,349)
Common stock issued for services 277,940
Asset impairment charge 26,858,023
Revaluation of digital currencies 2,979,045
Changes in assets and liabilities:    
Prepaid contracts (2,584,699) 166,749
Prepaid expenses and other current assets 221,142
Digital currencies (3,669,999) (14,414)
Accounts payable 2,303,611 5,206
Accrued expenses 1,253,072 (34,455)
Net cash used in operating activities of continuing operations (9,511,179) (1,687,191)
Net cash used in operating activities of discontinued operations (68,824) (888,787)
Net cash used in operating activities (9,580,003) (2,575,978)
Continuing operations:    
Purchases of property and equipment (20,084,225)
Purchase of digital currencies (5,625,000)
Proceeds from sale of digital currencies 1,626,800
Purchases of other investments (6,412,726)
Proceeds from sale of short-term investments 7,506,761
Security deposits (703,275)
Purchases of patent and trademark application costs (31,068) (12,965)
Investment in Logical Brokerage, net of cash acquired (516,918)
Purchase of developed technology (60,019)
Net cash (used in) provided by investing activities of continuing operations (31,806,431) 7,493,796
Net cash provided by investing activities of discontinued operations 4,004
Net cash (used in) provided by investing activities (31,806,431) 7,497,800
Cash flows from financing activities - continuing operations:    
Proceeds from issuance of common stock, net of $336,476 in offering expenses 1,913,509
Redemption of equity rights (291,995)
Proceeds from notes payable 775,555
Repayment of notes payable and other obligations (135,574) (139,611)
Proceeds from exercise of warrants 350,000
Proceeds from exercise of stock options 78,522
Proceeds from sale of Riot shares held by Tess 320,000
Net cash provided by financing activities of continuing operations 1,388,503 1,481,903
Net increase (decrease) in cash and cash equivalents (39,997,931) 6,403,725
Cash and cash equivalents at beginning of period 41,651,965 5,529,848
Cash and cash equivalents at end of period 1,654,034 11,933,573
Supplemental disclosure of cash flow information:    
Cash paid for interest 1,526 1,256
Supplemental disclosure of noncash investing and financing activities:    
Value of shares issued for Prive asset acquisition $ 8,480,000
Conversion of Preferred stock to Common stock 4,010,755
Deferred purchase price for BMSS $ 1,500,000

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