Tuesday, January 24, 2023 11:55:04 AM
Cost Of Goods Sold: Our cost of goods sold for the six months ended May 31, 2022, were $230,782 and $0 for the six months ended May 31, 2021. These were broken out as follows: $35,932 related to our Bitcoin mining operation and $194,850 related to the cost of mining equipment resold.
Operating Expenses: Operating expenses for the six months ended May 31, 2022, were $166,639 and $127,036 for the six months ended May 31, 2021. Operating expenses for the six months ended May 31, 2021 comprised of general and administrative expenses.
Unrealized gain/loss on Digital Currencies: The Company revalues the digital currencies it holds. The company had unrealized loss on the digital currencies for the six months ended May 31, 2022 were $27,096 compared to $2,568 or the six months ended May 31, 2021.
Net Loss: Net loss for the six months ended May 31, 2022, was $153,046 and $129,208 for the six months ended May 31, 2021. The net loss for the six months ended May 31, 2021, was the result of general and administrative expenses and loss on digital currencies.
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