10-Q Filing

CLEANSPARK, INC. CIK: 827876 Q2 2017

Filing Information

Form Type	10-Q
Accession Number	`0001663577-17-000151`
Period End Date	20170331
Filing Date	20170511
Fiscal Year	2017
Fiscal Period	Q2
XBRL Instance	clsk-20170331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 61 Income Statement 68 Cash Flow Statement 71

Balance Sheet 61 line items

Line Item	Tag	Value	Unit	Period
Common Stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common Stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash	`Cash`	$436.53K	USD	Point-in-time
Common Stock, Shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common Stock, Shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Cash	`Cash`	$238.41K	USD	Point-in-time
Common Stock, shares issued	`CommonStockSharesIssued`	2.93M	shares	Point-in-time
Common Stock, shares issued	`CommonStockSharesIssued`	32.97M	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$57.09K	USD	Point-in-time
Common Stock, shares issued	`CommonStockSharesIssued`	27.83M	shares	Point-in-time
Common Stock, shares issued	`CommonStockSharesIssued`	1.47M	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$187.68K	USD	Point-in-time
Preferred Stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Due from Shareholder	`ReceivableFromShareholdersOrAffiliatesForIssuanceOfCapitalStock`	$53.02K	USD	Point-in-time
Due from Shareholder	`ReceivableFromShareholdersOrAffiliatesForIssuanceOfCapitalStock`	-	USD	Point-in-time
Preferred Stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred Stock, Shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Prepaid expense	`PrepaidExpenseCurrentAndNoncurrent`	$57.72K	USD	Point-in-time
Preferred Stock, Shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Prepaid expense	`PrepaidExpenseCurrentAndNoncurrent`	$49.19K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$604.37K	USD	Point-in-time
Preferred Stock, shares issued	`PreferredStockSharesIssued`	1.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$475.27K	USD	Point-in-time
Preferred Stock, shares issued	`PreferredStockSharesIssued`	1.00M	shares	Point-in-time
Flexpower system	`FlexpowerSystem`	$19.68M	USD	Point-in-time
Flexpower system	`FlexpowerSystem`	$19.06M	USD	Point-in-time
Goodwill	`Goodwill`	$4.92M	USD	Point-in-time
Goodwill	`Goodwill`	$4.92M	USD	Point-in-time
Microgrid Assets	`MicrogridAssets`	$4.57M	USD	Point-in-time
Microgrid Assets	`MicrogridAssets`	$4.12M	USD	Point-in-time
Intangible assets	`IntangibleAssetsCurrent`	$2.47M	USD	Point-in-time
Intangible assets	`IntangibleAssetsCurrent`	$2.35M	USD	Point-in-time
Fixed Assets	`PropertyPlantAndEquipmentNet`	$782.98K	USD	Point-in-time
Fixed Assets	`PropertyPlantAndEquipmentNet`	$711.79K	USD	Point-in-time
Deposits	`Deposits`	$6.33K	USD	Point-in-time
Deposits	`Deposits`	$589.00	USD	Point-in-time
Total assets	`AssetsNoncurrent`	$33.02M	USD	Point-in-time
Total assets	`AssetsNoncurrent`	$31.65M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$291.19K	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$92.57K	USD	Point-in-time
Customer deposits	`ConsumerDeposits`	-	USD	Point-in-time
Customer deposits	`ConsumerDeposits`	$15.00K	USD	Point-in-time
Due to related parties	`NotesPayableRelatedPartiesClassifiedCurrent`	$63.97K	USD	Point-in-time
Due to related parties	`NotesPayableRelatedPartiesClassifiedCurrent`	$105.87K	USD	Point-in-time
Loans	`AccountsNotesAndLoansReceivableNetCurrent`	$2.26K	USD	Point-in-time
Loans	`AccountsNotesAndLoansReceivableNetCurrent`	$20.56K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$234.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$357.42K	USD	Point-in-time
Total liabilities	`Liabilities`	$357.42K	USD	Point-in-time
Total liabilities	`Liabilities`	$234.00K	USD	Point-in-time
Common stock; $0.001 par value; 100,000,000 shares authorized; 32,969,721 and 27,834,415 shares issued and outstanding as of March 31, 2017 and September 30, 2016, respectively	`CommonStockValue`	$32.97K	USD	Point-in-time
Preferred stock; $0.001 par value; 10,000,000 shares authorized; 1,000,000 and 1,000,000 shares issued and outstanding as of March 31, 2017 and September 30, 2016, respectively	`PreferredStockValue`	$1.00K	USD	Point-in-time
Preferred stock; $0.001 par value; 10,000,000 shares authorized; 1,000,000 and 1,000,000 shares issued and outstanding as of March 31, 2017 and September 30, 2016, respectively	`PreferredStockValue`	$1.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$39.82M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$39.07M	USD	Point-in-time
Accumulated earnings (deficit)	`RetainedEarningsAccumulatedDeficit`	$-8.44M	USD	Point-in-time
Accumulated earnings (deficit)	`RetainedEarningsAccumulatedDeficit`	$-6.43M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$31.42M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$32.66M	USD	Point-in-time
Total liabilities and stockholders' equity (deficit)	`LiabilitiesAndStockholdersEquity`	$31.65M	USD	Point-in-time
Total liabilities and stockholders' equity (deficit)	`LiabilitiesAndStockholdersEquity`	$33.02M	USD	Point-in-time

Income Statement 68 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	-	USD	1 Quarter
Revenues	`Revenues`	$284.63K	USD	2 Qtrs
Revenues	`Revenues`	-	USD	2 Qtrs
Revenues	`Revenues`	$200.75K	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$174.61K	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	-	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	-	USD	2 Qtrs
Cost of revenues	`CostOfRevenue`	$192.59K	USD	2 Qtrs
Gross profit	`GrossProfit`	-	USD	2 Qtrs
Gross profit	`GrossProfit`	-	USD	1 Quarter
Gross profit	`GrossProfit`	$26.14K	USD	1 Quarter
Gross profit	`GrossProfit`	$92.05K	USD	2 Qtrs
Professional fees	`ProfessionalFees`	$214.16K	USD	2 Qtrs
Professional fees	`ProfessionalFees`	$167.79K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$514.94K	USD	2 Qtrs
Professional fees	`ProfessionalFees`	$225.60K	USD	1 Quarter
Payroll expenses	`CostOfServicesDirectLabor`	-	USD	2 Qtrs
Payroll expenses	`CostOfServicesDirectLabor`	-	USD	1 Quarter
Payroll expenses	`CostOfServicesDirectLabor`	$9.29K	USD	1 Quarter
Payroll expenses	`CostOfServicesDirectLabor`	$9.29K	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$368.00	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	-	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$368.00	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$1.83K	USD	2 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$78.14K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$26.62K	USD	2 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$145.40K	USD	2 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$9.55K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$1.30M	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$20.48K	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$13.36K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$809.79K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$1.97M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$191.07K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$263.09K	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$1.12M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-191.07K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-263.09K	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-1.10M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-1.88M	USD	2 Qtrs
Loss on settlement of debt	`NondebtorReorganizationItemsNetGainLossOnSettlementOfOtherClaims1`	$-104.60K	USD	1 Quarter
Loss on settlement of debt	`NondebtorReorganizationItemsNetGainLossOnSettlementOfOtherClaims1`	$-117.41K	USD	2 Qtrs
Loss on settlement of debt	`NondebtorReorganizationItemsNetGainLossOnSettlementOfOtherClaims1`	-	USD	2 Qtrs
Loss on settlement of debt	`NondebtorReorganizationItemsNetGainLossOnSettlementOfOtherClaims1`	-	USD	1 Quarter
Interest expense	`InterestAndDebtExpense`	$-105.00	USD	2 Qtrs
Interest expense	`InterestAndDebtExpense`	$-105.00	USD	1 Quarter
Interest expense	`InterestAndDebtExpense`	-	USD	2 Qtrs
Interest expense	`InterestAndDebtExpense`	-	USD	1 Quarter
Loss on disposal of assets	`GainLossOnDispositionOfAssets`	$-12.82K	USD	2 Qtrs
Loss on disposal of assets	`GainLossOnDispositionOfAssets`	$721.00	USD	1 Quarter
Loss on disposal of assets	`GainLossOnDispositionOfAssets`	$721.00	USD	2 Qtrs
Loss on disposal of assets	`GainLossOnDispositionOfAssets`	-	USD	1 Quarter
Total other income (expense)	`OtherExpenses`	$104.70K	USD	1 Quarter
Total other income (expense)	`OtherExpenses`	$721.00	USD	2 Qtrs
Total other income (expense)	`OtherExpenses`	$130.34K	USD	2 Qtrs
Total other income (expense)	`OtherExpenses`	$721.00	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-262.37K	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$-1.20M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-2.01M	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$-190.35K	USD	1 Quarter
Basic income (loss) per common share	`EarningsPerShareBasic`	$-0.01	USD	1 Quarter
Basic income (loss) per common share	`EarningsPerShareBasic`	$-0.01	USD	2 Qtrs
Basic income (loss) per common share	`EarningsPerShareBasic`	$-0.04	USD	1 Quarter
Basic income (loss) per common share	`EarningsPerShareBasic`	$-0.06	USD	2 Qtrs
Basic weighted average common shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	20.73M	shares	2 Qtrs
Basic weighted average common shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	31.11M	shares	2 Qtrs
Basic weighted average common shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	32.52M	shares	1 Quarter
Basic weighted average common shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	20.94M	shares	1 Quarter

Cash Flow Statement 71 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-262.37K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-1.20M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.01M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-190.35K	USD	1 Quarter
Loss on disposal of fixed assets	`LossOnDisposalOfFixedAssets`	$12.82K	USD	2 Qtrs
Loss on disposal of fixed assets	`LossOnDisposalOfFixedAssets`	-	USD	2 Qtrs
Stock based consulting	`StockBasedConsulting`	$50.13K	USD	2 Qtrs
Stock based consulting	`StockBasedConsulting`	$143.40K	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$20.48K	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.30M	USD	2 Qtrs
Stock issued for acquisition	`StockIssuedDuringPeriodValueAcquisitions`	-	USD	2 Qtrs
Stock issued for acquisition	`StockIssuedDuringPeriodValueAcquisitions`	-	USD	2 Qtrs
Loss on settlement of debt	`DebtorReorganizationItemsImpairmentLoss`	$117.41K	USD	2 Qtrs
Loss on settlement of debt	`DebtorReorganizationItemsImpairmentLoss`	-	USD	2 Qtrs
Cash received in acquisition	`ProceedsFromCollaborators`	-	USD	2 Qtrs
Cash received in acquisition	`ProceedsFromCollaborators`	-	USD	2 Qtrs
(Increase) decrease in prepaid expense	`IncreaseDecreaseInPrepaidExpense`	$-41.60K	USD	2 Qtrs
(Increase) decrease in prepaid expense	`IncreaseDecreaseInPrepaidExpense`	$-850.00	USD	2 Qtrs
(Increase) decrease in deposits	`IncreaseDecreaseInCustomerDeposits`	$-5.74K	USD	2 Qtrs
(Increase) decrease in deposits	`IncreaseDecreaseInCustomerDeposits`	$1.77K	USD	2 Qtrs
Increase in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	-	USD	2 Qtrs
Increase in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-130.58K	USD	2 Qtrs
Increase in shareholder receivable	`IncreaseDecreaseInDividendsReceivable`	-	USD	2 Qtrs
Increase in shareholder receivable	`IncreaseDecreaseInDividendsReceivable`	-	USD	2 Qtrs
Increase in customer deposits	`IncreaseInConsumerDeposits`	$15.00K	USD	2 Qtrs
Increase in customer deposits	`IncreaseInConsumerDeposits`	-	USD	2 Qtrs
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$-42.03K	USD	2 Qtrs
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$-50.51K	USD	2 Qtrs
Increase (decrease) in accounts payable related party	`IncreaseDecreaseInAccountsPayableRelatedParties`	-	USD	2 Qtrs
Increase (decrease) in accounts payable related party	`IncreaseDecreaseInAccountsPayableRelatedParties`	$41.90K	USD	2 Qtrs
Net cash from operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-139.59K	USD	2 Qtrs
Net cash from operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-699.47K	USD	2 Qtrs
Purchase of intangible assets	`PaymentsToAcquireIntangibleAssets`	$22.49K	USD	2 Qtrs
Purchase of intangible assets	`PaymentsToAcquireIntangibleAssets`	$3.23K	USD	2 Qtrs
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$9.75K	USD	2 Qtrs
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$97.00	USD	2 Qtrs
Investment in Flexpower system	`InvestmentInFlexpowerSystem`	$-50.37K	USD	2 Qtrs
Cash received on sale of assets	`ProceedsFromSaleOfForeclosedAssets`	$721.00	USD	2 Qtrs
Cash received on sale of assets	`ProceedsFromSaleOfForeclosedAssets`	$7.00K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-12.25K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-65.96K	USD	2 Qtrs
Payments on short-term loans	`RepaymentsOfSubordinatedShortTermDebt`	-	USD	2 Qtrs
Payments on short-term loans	`RepaymentsOfSubordinatedShortTermDebt`	$-7.40K	USD	2 Qtrs
Proceeds from short term notes	`ProceedsFromOtherShortTermDebt`	$25.71K	USD	2 Qtrs
Proceeds from short term notes	`ProceedsFromOtherShortTermDebt`	-	USD	2 Qtrs
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$549.00K	USD	2 Qtrs
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$215.00K	USD	2 Qtrs
Net cash from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$567.30K	USD	2 Qtrs
Net cash from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$215.00K	USD	2 Qtrs
Net increase (decrease) in Cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-198.12K	USD	2 Qtrs
Net increase (decrease) in Cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$63.16K	USD	2 Qtrs
Beginning cash balance	`CashAndCashEquivalentsAtCarryingValue`	$151.69K	USD	Point-in-time
Beginning cash balance	`CashAndCashEquivalentsAtCarryingValue`	$238.41K	USD	Point-in-time
Beginning cash balance	`CashAndCashEquivalentsAtCarryingValue`	$88.53K	USD	Point-in-time
Beginning cash balance	`CashAndCashEquivalentsAtCarryingValue`	$436.53K	USD	Point-in-time
Ending cash balance	`CashAndCashEquivalentsAtCarryingValue`	$151.69K	USD	Point-in-time
Ending cash balance	`CashAndCashEquivalentsAtCarryingValue`	$238.41K	USD	Point-in-time
Ending cash balance	`CashAndCashEquivalentsAtCarryingValue`	$88.53K	USD	Point-in-time
Ending cash balance	`CashAndCashEquivalentsAtCarryingValue`	$436.53K	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	$105.00	USD	2 Qtrs
Cash paid for interest	`InterestPaidNet`	-	USD	2 Qtrs
Cash paid for tax	`IncomeTaxesPaidNet`	-	USD	2 Qtrs
Cash paid for tax	`IncomeTaxesPaidNet`	-	USD	2 Qtrs
Cashless exercise of options	`CashlessExerciseofOptions`	-	USD	2 Qtrs
Cashless exercise of options	`CashlessExerciseofOptions`	$4.40K	USD	2 Qtrs
Stock issued to settle debt	`StockIssuedDuringPeriodSharesOther`	212,500.00	shares	2 Qtrs
Stock issued to settle debt	`StockIssuedDuringPeriodSharesOther`	-	shares	2 Qtrs
Shares for services	`StockIssuedDuringPeriodSharesIssuedForServices`	11,666.00	shares	2 Qtrs
Shares for services	`StockIssuedDuringPeriodSharesIssuedForServices`	-	shares	2 Qtrs
Options and warrants for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	-	USD	2 Qtrs
Options and warrants for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$138.00K	USD	2 Qtrs

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