OTHER CURRENT ASSETS

9 Months Ended

12 Months Ended

Sep. 30, 2022

Dec. 31, 2021

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

OTHER CURRENT ASSETS

5. OTHER CURRENT ASSETS

Other current assets consist of the following at September 30, 2022 and December 31, 2021:

	September 30, 2022		December 31, 2021
Advances for inventory purchases	$	8,124,880	$	6,999,955
Prepaid insurance		1,081,809		-
Deposits		140,500		-
Prepaid software deposit		242,200		-
Other		73,946		81,738
Total other current assets	$	9,663,335	$	7,081,693

As of September 30, 2022 and December 31, 2021, the Company had deposits with a vendor, Wattum Management, Inc., of $0 and $6,999,955, respectively, related to a contract for the delivery of mining equipment. Wattum Management, Inc. is a partner in CW Machines, LLC.

As of September 30, 2022 and December 31, 2021, the Company had deposits with a vendor, Forever 8 Fund, LLC, of $8,124,880 and $0, respectively. Forever 8 Fund, LLC was acquired by Cryptyde, Inc. on October 1, 2022.

3. OTHER CURRENT ASSETS

Other current assets consist of the following at December 31, 2021:

Vendor deposits, related party	$	6,999,955
Interest receivable, related party		33,395
Total other assets	$	7,033,350

As of December 31, 2021, the Company had deposits with a vendor, Wattum Management, Inc., of $6,999,955 related to a contract for the delivery of mining equipment. Wattum Management, Inc. is a partner in CW Machines, LLC.