Monday, March 27, 2023 8:26:18 AM
Digital currencies show assets of 1.06 mm.
And the note below shows 48k. Good to see the OTC actually reads these reports for accuracy. Not!
Digital Currencies
Digital currencies consist of Bitcoin, Litecoin and Ethereum, generally received for the Company’s own account as compensation for cryptocurrency mining services. Given that there is limited precedent regarding the classification and measurement of cryptocurrencies under current Generally Accepted Accounting Principles (“GAAP”), the Company has determined to account for these digital currencies as indefinite-lived intangible assets in accordance with Accounting Standards Update ("ASU") No. 350. As of December 31, 2022, the company held 0 BTC on account as well as 16,245.5464 Filecoin with a market value of $48,737. All digital currencies are recorded at historical cost.
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