XML 49 R4.htm IDEA: XBRL DOCUMENT v3.19.3
Statements of Operations - USD ($)
12 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Revenues    
Cryptocurrency mining $ 249,819 $ 198,247
Sales of cryptocurrency mining equipment 29,324 108,160
Total revenues 279,143 306,407
Cost of revenues 1,005,479 237,793
Gross margin (loss) (726,336) 68,614
Operating expenses:    
General and administrative 1,823,523 1,296,155
Impairment of assets 2,097,930 4,907,884
Total operating expenses 3,921,453 6,204,039
Loss from operations (4,647,789) (6,135,425)
Other income (expense):    
Interest and other income 1,405
Interest expense (214,373) (153,706)
Realized gain (loss) on sale of investments (32,770) 239,567
Loss on settlement of warrants (500,000) (25,000)
Loss on exchange of Series B preferred stock (1,650,000)
Change in fair value of derivative liabilities (2,468,339) 490,484
Unrealized loss on investments (2,709)
Gain on extinguishment of debt 7,934
Total other income (expense) (4,865,482) 557,975
Loss before income taxes (9,513,271) (5,577,450)
Provision for income taxes
Net loss $ (9,513,271) $ (5,577,450)
Net loss per common share, basic and diluted $ (0.70) $ (0.67)
Weighted average number of common shares outstanding, basic and diluted 13,665,421 8,306,580