Equipment, net

9 Months Ended

Sep. 30, 2022

Equipment, net

Equipment, net

Note 6 – Equipment, net

At September 30, 2022 and December 31, 2021, equipment consisted of the following:

	September 30,			December 31,
	2022			2021
Cost:
Furniture and equipment	$	5,350		$	-
Digital currency equipment		-			301,175
Less: accumulated depreciation		(267	)		(9,737	)
Property and equipment, net	$	5,083		$	291,438

During the year ended December 31, 2021, the Company acquired digital asset machines with a cost of $301,175. The machines started in operation from November 1, 2021. On April 1, 2022, the Company sold digital asset machines with a net book value of $276,379 as part of the divestiture of the Company’s digital asset operations (see Note 4).

During the nine months ended September 30, 2022, the Company recorded depreciation of $15,326, of which $15,059 is included within the Company’s income from discontinued operations (see Note 4).