Let's examine this and put it to the test:
......: 2018 column it lists that they gained about $82,000 from the year before to $750,000 in Cash end of 2018.........and from where did they get this money? Well, it says: “cash provided by operating activities”.....
In 2018 bitcoin started out around $13,000 and dropped to $4000 by year end. These numbers are approximate and serve our purpose of the cash claim for end of 2018 "by operating activities". Let's average it out to $8,500.
Company reports 2 P/H power which would translate to approx. $20,000 gross profit and 2 bitcoins mined that year. This number coincides with page 9 of report stating $19,479 (Digital Assets Mined). So, I will concede there is mining here.
Looking at this:
Page 17:
"Liquidity and Capital Resources: During the period ended December 31, 2019, the Company did not produce any cash or cash equivalents from operations."
Which means to say whatever was mined was not sold for a cash equivalent. So then, why is the 576 bitcoin stuck at that number? Why isn't the accumulated bitcoin also being reported?
Sidenote: I was wondering where the cash on hand came from and it was from stock sales in 2017.
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