10-Q Filing

MARA HOLDINGS, INC. CIK: 1507605 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0001493152-20-008746`
Period End Date	20200331
Filing Date	20200514
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	mara-20200331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 78 Income Statement 43 Cash Flow Statement 56 Stockholders Equity 18

Balance Sheet 78 line items

Line Item	Tag	Value	Unit	Period
Allowance for bad debt	`AllowanceForDoubtfulAccountsReceivableCurrent`	-	USD	Point-in-time
Allowance for bad debt	`AllowanceForDoubtfulAccountsReceivableCurrent`	-	USD	Point-in-time
Accumulated depreciation of property and equipment	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$6.22M	USD	Point-in-time
Accumulated depreciation of property and equipment	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$6.16M	USD	Point-in-time
Accumulated amortization of intangible assets	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$154.22K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$474.55K	USD	Point-in-time
Accumulated amortization of intangible assets	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$136.42K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$692.96K	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Digital currencies	`DigitalCurrencies`	$1.14K	USD	Point-in-time
Digital currencies	`DigitalCurrencies`	$2.89K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	50.00M	shares	Point-in-time
Accounts receivable - net of allowance for bad debt of $0 for March 31, 2020	`AccountsReceivableNetCurrent`	$117.81K	USD	Point-in-time
Accounts receivable - net of allowance for bad debt of $0 for March 31, 2020	`AccountsReceivableNetCurrent`	-	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	50.00M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$800.02K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$908.35K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.49M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.50M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Property and equipment, net of accumulated depreciation and impairment charges of $6,220,792 and $6,157,786 for March 31, 2020 and December 31, 2019, respectively	`PropertyPlantAndEquipmentNet`	$2.84M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Property and equipment, net of accumulated depreciation and impairment charges of $6,220,792 and $6,157,786 for March 31, 2020 and December 31, 2019, respectively	`PropertyPlantAndEquipmentNet`	$3.75M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	8.46M	shares	Point-in-time
Right-of-use assets	`OperatingLeaseRightOfUseAsset`	$273.17K	USD	Point-in-time
Right-of-use assets	`OperatingLeaseRightOfUseAsset`	$297.29K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	9.21M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	8.46M	shares	Point-in-time
Intangible assets, net of accumulated amortization of $154,216 and $136,422 for March 31, 2020 and December 31, 2019, respectively	`FiniteLivedIntangibleAssetsNet`	$1.06M	USD	Point-in-time
Intangible assets, net of accumulated amortization of $154,216 and $136,422 for March 31, 2020 and December 31, 2019, respectively	`FiniteLivedIntangibleAssetsNet`	$1.07M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	9.21M	shares	Point-in-time
Total other assets	`AssetsNoncurrent`	$4.16M	USD	Point-in-time
Total other assets	`AssetsNoncurrent`	$5.13M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$5.67M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$6.62M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$1.31M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$1.24M	USD	Point-in-time
Mining servers payable	`OtherLiabilitiesCurrent`	-	USD	Point-in-time
Mining servers payable	`OtherLiabilitiesCurrent`	$513.70K	USD	Point-in-time
Current portion of lease liability	`OperatingLeaseLiabilityCurrent`	$87.96K	USD	Point-in-time
Current portion of lease liability	`OperatingLeaseLiabilityCurrent`	$89.05K	USD	Point-in-time
Warrant liability	`WarrantLiability`	$12.85K	USD	Point-in-time
Warrant liability	`WarrantLiability`	$3.06K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.85M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.40M	USD	Point-in-time
Convertible notes payable	`ConvertibleLongTermNotesPayable`	$999.11K	USD	Point-in-time
Convertible notes payable	`ConvertibleLongTermNotesPayable`	$999.11K	USD	Point-in-time
Lease liability	`OperatingLeaseLiabilityNoncurrent`	$120.48K	USD	Point-in-time
Lease liability	`OperatingLeaseLiabilityNoncurrent`	$95.02K	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$1.09M	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$1.12M	USD	Point-in-time
Total liabilities	`Liabilities`	$2.50M	USD	Point-in-time
Total liabilities	`Liabilities`	$2.97M	USD	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, $0.0001 par value, 50,000,000 shares authorized, no shares issued and outstanding at March 31, 2020 and December 31, 2019, respectively	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.0001 par value, 50,000,000 shares authorized, no shares issued and outstanding at March 31, 2020 and December 31, 2019, respectively	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.0001 par value; 200,000,000 shares authorized; 9,212,106 and 8,458,781 issued and outstanding at March 31, 2020 and December 31, 2019, respectively	`CommonStockValue`	$846.00	USD	Point-in-time
Common stock, $0.0001 par value; 200,000,000 shares authorized; 9,212,106 and 8,458,781 issued and outstanding at March 31, 2020 and December 31, 2019, respectively	`CommonStockValue`	$922.00	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$110.28M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$109.71M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-450.72K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-450.72K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-105.61M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-106.67M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$3.17M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$2.16M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$2.92M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$3.65M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$6.62M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$5.67M	USD	Point-in-time

Income Statement 43 line items

Line Item	Tag	Value	Unit	Period
Total revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$592.49K	USD	1 Quarter
Total revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$230.69K	USD	1 Quarter
Cost of revenue	`CostOfRevenue`	$1.15M	USD	1 Quarter
Cost of revenue	`CostOfRevenue`	$508.64K	USD	1 Quarter
Compensation and related taxes	`LaborAndRelatedExpense`	$486.69K	USD	1 Quarter
Compensation and related taxes	`LaborAndRelatedExpense`	$233.66K	USD	1 Quarter
Consulting fees	`ProfessionalAndContractServicesExpenseBenefit`	$41.81K	USD	1 Quarter
Consulting fees	`ProfessionalAndContractServicesExpenseBenefit`	$20.00K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$85.03K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$146.64K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$25.00K	USD	Point-in-time
General and administrative	`GeneralAndAdministrativeExpense`	$108.94K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$115.24K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$1.68M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$1.22M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-1.09M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-984.91K	USD	1 Quarter
Other income (expenses)	`OtherNonoperatingIncomeExpense`	$106.41K	USD	1 Quarter
Other income (expenses)	`OtherNonoperatingIncomeExpense`	$-9.44K	USD	1 Quarter
Foreign exchange loss	`ForeignCurrencyTransactionGainLossBeforeTax`	-	USD	1 Quarter
Foreign exchange loss	`ForeignCurrencyTransactionGainLossBeforeTax`	$-11.87K	USD	1 Quarter
Realized loss on sale of digital currencies	`RealizedGainLossOnSaleOfDigitalCurrencies`	$4.22K	USD	1 Quarter
Realized loss on sale of digital currencies	`RealizedGainLossOnSaleOfDigitalCurrencies`	$608.00	USD	1 Quarter
Change in fair value of warrant liability	`FairValueAdjustmentOfWarrants`	$37.73K	USD	1 Quarter
Change in fair value of warrant liability	`FairValueAdjustmentOfWarrants`	$-9.79K	USD	1 Quarter
Change in fair value of mining payable	`FairValueAdjustmentOfMiningPayable`	-	USD	1 Quarter
Change in fair value of mining payable	`FairValueAdjustmentOfMiningPayable`	$66.55K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$12.02K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$1.88K	USD	1 Quarter
Interest expense	`InterestExpense`	$13.44K	USD	1 Quarter
Interest expense	`InterestExpense`	$12.32K	USD	1 Quarter
Total other income (expenses)	`NonoperatingIncomeExpense`	$33.87K	USD	1 Quarter
Total other income (expenses)	`NonoperatingIncomeExpense`	$-59.95K	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.06M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.04M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.04M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.06M	USD	1 Quarter
Net loss per share, basic and diluted:	`EarningsPerShareBasicAndDiluted`	$-0.16	USD	1 Quarter
Net loss per share, basic and diluted:	`EarningsPerShareBasicAndDiluted`	$-0.12	USD	1 Quarter
Weighted average shares outstanding, basic and diluted:	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	6.34M	shares	1 Quarter
Weighted average shares outstanding, basic and diluted:	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	8.66M	shares	1 Quarter

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-1.04M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.06M	USD	1 Quarter
Depreciation	`Depreciation`	$510.78K	USD	1 Quarter
Depreciation	`Depreciation`	$137.36K	USD	1 Quarter
Amortization of patents and website	`AmortizationOfIntangibleAssets`	$17.79K	USD	1 Quarter
Amortization of patents and website	`AmortizationOfIntangibleAssets`	$17.79K	USD	1 Quarter
Realized loss on sale of digital currencies	`RealizedGainLossOnSaleOfDigitalCurrencies`	$4.22K	USD	1 Quarter
Realized loss on sale of digital currencies	`RealizedGainLossOnSaleOfDigitalCurrencies`	$608.00	USD	1 Quarter
Change in fair value of warrant liability	`FairValueAdjustmentOfWarrants`	$37.73K	USD	1 Quarter
Change in fair value of warrant liability	`FairValueAdjustmentOfWarrants`	$-9.79K	USD	1 Quarter
Change in fair value of mining payable	`FairValueAdjustmentOfMiningPayable`	-	USD	1 Quarter
Change in fair value of mining payable	`FairValueAdjustmentOfMiningPayable`	$66.55K	USD	1 Quarter
Gain on partial extinguishment of mining payable	`GainOnPartialExtinguishmentOfMiningPayable`	-	USD	1 Quarter
Gain on partial extinguishment of mining payable	`GainOnPartialExtinguishmentOfMiningPayable`	-	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$282.18K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$23.24K	USD	1 Quarter
Amortization of right-of-use assets	`OperatingLeaseRightOfUseAssetAmortizationExpense`	$24.11K	USD	1 Quarter
Amortization of right-of-use assets	`OperatingLeaseRightOfUseAssetAmortizationExpense`	$21.80K	USD	1 Quarter
Accounts receivables	`IncreaseDecreaseInAccountsReceivable`	-	USD	1 Quarter
Accounts receivables	`IncreaseDecreaseInAccountsReceivable`	$117.81K	USD	1 Quarter
Digital currencies	`IncreaseDecreaseInDigitalCurrencies`	$474.68K	USD	1 Quarter
Digital currencies	`IncreaseDecreaseInDigitalCurrencies`	$230.69K	USD	1 Quarter
Lease liability	`IncreaseDecreaseInLeaseLiability`	$-21.44K	USD	1 Quarter
Lease liability	`IncreaseDecreaseInLeaseLiability`	$-24.36K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-55.36K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$108.32K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-66.97K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$73.96K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-811.14K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.07M	USD	1 Quarter
Sale of digital currencies	`ProceedsFromSaleOfDigitalCurrencies`	$468.70K	USD	1 Quarter
Sale of digital currencies	`ProceedsFromSaleOfDigitalCurrencies`	$224.45K	USD	1 Quarter
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$224.45K	USD	1 Quarter
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$468.70K	USD	1 Quarter
Proceeds from issuance of common stock/At-the-market offering	`ProceedsFromIssuanceOfCommonStock`	-	USD	1 Quarter
Proceeds from issuance of common stock/At-the-market offering	`ProceedsFromIssuanceOfCommonStock`	$401.89K	USD	1 Quarter
Offering costs for the issuance of common stock/At-the-market offering	`PaymentsOfStockIssuanceCosts`	-	USD	1 Quarter
Offering costs for the issuance of common stock/At-the-market offering	`PaymentsOfStockIssuanceCosts`	$16.77K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$385.12K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-218.42K	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-586.69K	USD	1 Quarter
Cash and cash equivalents - beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.96M	USD	Point-in-time
Cash and cash equivalents - beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$474.55K	USD	Point-in-time
Cash and cash equivalents - beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$692.96K	USD	Point-in-time
Cash and cash equivalents - beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$2.55M	USD	Point-in-time
Cash and cash equivalents - end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.96M	USD	Point-in-time
Cash and cash equivalents - end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$474.55K	USD	Point-in-time
Cash and cash equivalents - end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$692.96K	USD	Point-in-time
Cash and cash equivalents - end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$2.55M	USD	Point-in-time
Par value adjustment due to reverse split	`ParValueAdjustmentDueToReverseSplit`	-	USD	1 Quarter
Par value adjustment due to reverse split	`ParValueAdjustmentDueToReverseSplit`	$1.00	USD	1 Quarter
Common stock issued for purchase of mining servers	`StockIssued1`	-	USD	1 Quarter
Common stock issued for purchase of mining servers	`StockIssued1`	$171.62K	USD	1 Quarter
Reduction of share commitment for purchase of mining servers	`ReductionOfShareCommitmentForPurchaseOfMiningServers`	-	USD	1 Quarter
Reduction of share commitment for purchase of mining servers	`ReductionOfShareCommitmentForPurchaseOfMiningServers`	$408.62K	USD	1 Quarter

Stockholders Equity 18 line items

Line Item	Tag	Value	Unit	Period
Beginning balance	`StockholdersEquity`	$3.17M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$2.16M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$2.92M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$3.65M	USD	Point-in-time
Stock based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$23.24K	USD	1 Quarter
Stock based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$282.18K	USD	1 Quarter
Issuance of common stock, net of offering costs/At-the-market offering	`StockIssuedDuringPeriodValueNewIssues`	$385.12K	USD	1 Quarter
Issuance of common stock, net of offering costs/At-the-market offering	`StockIssuedDuringPeriodValueNewIssues`	$474.81K	USD	Point-in-time
Issuance of common stock, net of offering costs/At-the-market offering	`StockIssuedDuringPeriodValueNewIssues`	$7.47M	USD	Point-in-time
Issuance of common stock, net of offering costs/At-the-market offering, shares	`StockIssuedDuringPeriodSharesNewIssues`	1.06M	shares	Point-in-time
Common stock issued for purchase of mining servers	`StockIssuedDuringPeriodValueOther`	$171.62K	USD	1 Quarter
Par value adjustment and additional shares issued due to reverse split	`AdjustmentsToAdditionalPaidInCapitalStockSplit`	-	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-1.04M	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-1.06M	USD	1 Quarter
Ending balance	`StockholdersEquity`	$3.17M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$2.16M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$2.92M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$3.65M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.