10-Q Filing

CLEANSPARK, INC. CIK: 827876 Q2 2018

Filing Information

Form Type	10-Q
Accession Number	`0001663577-18-000241`
Period End Date	20180331
Filing Date	20180517
Fiscal Year	2018
Fiscal Period	Q2
XBRL Instance	clsk-20180331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 66 Income Statement 76 Cash Flow Statement 82

Balance Sheet 66 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
Common Stock, Shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common Stock, Shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Cash	`Cash`	$172.22K	USD	Point-in-time
Common Stock, shares issued	`CommonStockSharesIssued`	34.49M	shares	Point-in-time
Common Stock, shares issued	`CommonStockSharesIssued`	33.41M	shares	Point-in-time
Cash	`Cash`	$57.13K	USD	Point-in-time
Preferred Stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$55.23K	USD	Point-in-time
Preferred Stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$41.95K	USD	Point-in-time
Deposits-current	`DepositsAssetsCurrent`	-	USD	Point-in-time
Deposits-current	`DepositsAssetsCurrent`	$339.00K	USD	Point-in-time
Preferred Stock, Shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred Stock, Shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred Stock, shares issued	`PreferredStockSharesIssued`	1.00M	shares	Point-in-time
Prepaid expense	`PrepaidExpenseCurrentAndNoncurrent`	$509.86K	USD	Point-in-time
Prepaid expense	`PrepaidExpenseCurrentAndNoncurrent`	$29.56K	USD	Point-in-time
Preferred Stock, shares issued	`PreferredStockSharesIssued`	1.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$1.08M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$128.63K	USD	Point-in-time
Capitalized Software	`CapitalizedComputerSoftwareGross`	$9.71M	USD	Point-in-time
Capitalized Software	`CapitalizedComputerSoftwareGross`	$9.16M	USD	Point-in-time
Goodwill	`Goodwill`	$4.92M	USD	Point-in-time
Goodwill	`Goodwill`	$4.92M	USD	Point-in-time
Intangible assets	`IntangibleAssetsCurrent`	$5.90M	USD	Point-in-time
Intangible assets	`IntangibleAssetsCurrent`	$5.51M	USD	Point-in-time
Fixed Assets	`PropertyPlantAndEquipmentNet`	$125.44K	USD	Point-in-time
Fixed Assets	`PropertyPlantAndEquipmentNet`	$112.80K	USD	Point-in-time
Deposits- long term	`DepositContractsAssets`	-	USD	Point-in-time
Deposits- long term	`DepositContractsAssets`	$5.74K	USD	Point-in-time
Total assets	`Assets`	$20.78M	USD	Point-in-time
Total assets	`Assets`	$20.79M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$143.22K	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$318.88K	USD	Point-in-time
Convertible note payable	`ConvertibleNotesPayable`	-	USD	Point-in-time
Convertible note payable	`ConvertibleNotesPayable`	$9.78K	USD	Point-in-time
Derivative liability	`DerivativeLiabilities`	-	USD	Point-in-time
Derivative liability	`DerivativeLiabilities`	$248.95K	USD	Point-in-time
Customer deposits	`ConsumerDeposits`	$16.00K	USD	Point-in-time
Customer deposits	`ConsumerDeposits`	$16.00K	USD	Point-in-time
Due to related parties	`NotesPayableRelatedPartiesClassifiedCurrent`	$210.71K	USD	Point-in-time
Due to related parties	`NotesPayableRelatedPartiesClassifiedCurrent`	$61.02K	USD	Point-in-time
Loan from related party	`DueToRelatedPartiesCurrent`	$73.33K	USD	Point-in-time
Loan from related party	`DueToRelatedPartiesCurrent`	$177.43K	USD	Point-in-time
Loans	`AccountsNotesAndLoansReceivableNetCurrent`	$277.46K	USD	Point-in-time
Loans	`AccountsNotesAndLoansReceivableNetCurrent`	$7.71K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$301.29K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.26M	USD	Point-in-time
Loans	`LoansPayable`	$300.00K	USD	Point-in-time
Loans	`LoansPayable`	$150.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$1.56M	USD	Point-in-time
Total liabilities	`Liabilities`	$451.29K	USD	Point-in-time
Common stock; $0.001 par value; 100,000,000 shares authorized; 34,489,670 and 33,409,471 shares issued and outstanding as of March 31, 2018 and September 30, 2017, respectively	`CommonStockValue`	$33.41K	USD	Point-in-time
Common stock; $0.001 par value; 100,000,000 shares authorized; 34,489,670 and 33,409,471 shares issued and outstanding as of March 31, 2018 and September 30, 2017, respectively	`CommonStockValue`	$34.49K	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, 2018 and September 30, 2017, 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, 2018 and September 30, 2017, respectively	`PreferredStockValue`	$1.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$40.24M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$41.30M	USD	Point-in-time
Accumulated earnings (deficit)	`RetainedEarningsAccumulatedDeficit`	$-19.93M	USD	Point-in-time
Accumulated earnings (deficit)	`RetainedEarningsAccumulatedDeficit`	$-22.11M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$20.34M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$19.22M	USD	Point-in-time
Total liabilities and stockholders' equity (deficit)	`LiabilitiesAndStockholdersEquity`	$20.79M	USD	Point-in-time
Total liabilities and stockholders' equity (deficit)	`LiabilitiesAndStockholdersEquity`	$20.78M	USD	Point-in-time

Income Statement 76 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$120.27K	USD	1 Quarter
Revenues	`Revenues`	$284.63K	USD	2 Qtrs
Revenues	`Revenues`	$200.75K	USD	1 Quarter
Revenues	`Revenues`	$138.34K	USD	2 Qtrs
Cost of revenues	`CostOfRevenue`	$83.75K	USD	2 Qtrs
Cost of revenues	`CostOfRevenue`	$174.61K	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$77.28K	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$192.59K	USD	2 Qtrs
Gross profit	`GrossProfit`	$26.14K	USD	1 Quarter
Gross profit	`GrossProfit`	$92.05K	USD	2 Qtrs
Gross profit	`GrossProfit`	$54.60K	USD	2 Qtrs
Gross profit	`GrossProfit`	$42.99K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$331.89K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$514.94K	USD	2 Qtrs
Professional fees	`ProfessionalFees`	$486.89K	USD	2 Qtrs
Professional fees	`ProfessionalFees`	$225.60K	USD	1 Quarter
Payroll expenses	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$365.97K	USD	2 Qtrs
Payroll expenses	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$107.78K	USD	1 Quarter
Payroll expenses	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$9.29K	USD	1 Quarter
Payroll expenses	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$9.29K	USD	2 Qtrs
Product development	`ExplorationAndProductionCosts`	$328.82K	USD	1 Quarter
Product development	`ExplorationAndProductionCosts`	$664.40K	USD	2 Qtrs
Product development	`ExplorationAndProductionCosts`	$357.35K	USD	1 Quarter
Product development	`ExplorationAndProductionCosts`	$702.66K	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$368.00	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	-	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$2.96K	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$646.00	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$78.14K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$140.51K	USD	2 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$64.57K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$145.40K	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$634.15K	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$422.74K	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$480.97K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$207.52K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$1.97M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$1.12M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$2.12M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$1.07M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-1.10M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-1.03M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-1.88M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-2.07M	USD	2 Qtrs
Loss on settlement of debt	`GainsLossesOnRestructuringOfDebt`	-	USD	1 Quarter
Loss on settlement of debt	`GainsLossesOnRestructuringOfDebt`	$-117.41K	USD	2 Qtrs
Loss on settlement of debt	`GainsLossesOnRestructuringOfDebt`	$-104.60K	USD	1 Quarter
Loss on settlement of debt	`GainsLossesOnRestructuringOfDebt`	-	USD	2 Qtrs
Gain/(loss) on derivative liability	`GainLossOnDerivativeInstrumentsNetPretax`	-	USD	1 Quarter
Gain/(loss) on derivative liability	`GainLossOnDerivativeInstrumentsNetPretax`	$-64.70K	USD	1 Quarter
Gain/(loss) on derivative liability	`GainLossOnDerivativeInstrumentsNetPretax`	-	USD	2 Qtrs
Gain/(loss) on derivative liability	`GainLossOnDerivativeInstrumentsNetPretax`	$-64.70K	USD	2 Qtrs
Interest expense	`InterestExpense`	$105.00	USD	2 Qtrs
Interest expense	`InterestExpense`	-	USD	1 Quarter
Interest expense	`InterestExpense`	$33.29K	USD	1 Quarter
Interest expense	`InterestExpense`	$49.42K	USD	2 Qtrs
Loss on disposal of assets	`GainLossOnDispositionOfAssets`	$-12.82K	USD	2 Qtrs
Loss on disposal of assets	`GainLossOnDispositionOfAssets`	-	USD	1 Quarter
Loss on disposal of assets	`GainLossOnDispositionOfAssets`	-	USD	2 Qtrs
Loss on disposal of assets	`GainLossOnDispositionOfAssets`	-	USD	1 Quarter
Total other income (expense)	`OtherExpenses`	$114.12K	USD	2 Qtrs
Total other income (expense)	`OtherExpenses`	$104.60K	USD	1 Quarter
Total other income (expense)	`OtherExpenses`	$97.99K	USD	1 Quarter
Total other income (expense)	`OtherExpenses`	$130.34K	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$-2.18M	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$-2.01M	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$-1.12M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-1.20M	USD	1 Quarter
Basic income (loss) per common share	`EarningsPerShareBasic`	$-0.04	USD	1 Quarter
Basic income (loss) per common share	`EarningsPerShareBasic`	$-0.04	USD	1 Quarter
Basic income (loss) per common share	`EarningsPerShareBasic`	$-0.07	USD	2 Qtrs
Basic income (loss) per common share	`EarningsPerShareBasic`	$-0.06	USD	2 Qtrs
Basic weighted average common shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	32.55M	shares	1 Quarter
Basic weighted average common shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	31.11M	shares	2 Qtrs
Basic weighted average common shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	33.77M	shares	1 Quarter
Basic weighted average common shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	34.04M	shares	2 Qtrs

Cash Flow Statement 82 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-2.18M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-2.01M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-1.12M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.20M	USD	1 Quarter
Loss on disposal of fixed assets	`LossOnDisposalOfFixedAssets`	-	USD	2 Qtrs
Loss on disposal of fixed assets	`LossOnDisposalOfFixedAssets`	$12.82K	USD	2 Qtrs
Stock based consulting	`StockBasedConsulting`	$50.13K	USD	2 Qtrs
Stock based consulting	`StockBasedConsulting`	$169.08K	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$634.15K	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$422.74K	USD	2 Qtrs
Amortization of capitalized software	`AmortizationOfCapitalizedSoftware`	$664.40K	USD	2 Qtrs
Amortization of capitalized software	`AmortizationOfCapitalizedSoftware`	$691.31K	USD	2 Qtrs
Loss on derivative liability	`UnrealizedGainLossOnDerivatives`	-	USD	2 Qtrs
Loss on derivative liability	`UnrealizedGainLossOnDerivatives`	$64.70K	USD	2 Qtrs
Loss on settlement of debt	`DebtorReorganizationItemsImpairmentLoss`	-	USD	2 Qtrs
Loss on settlement of debt	`DebtorReorganizationItemsImpairmentLoss`	$117.41K	USD	2 Qtrs
Amortization of debt discount	`AmortizationOfFinancingCosts`	-	USD	2 Qtrs
Amortization of debt discount	`AmortizationOfFinancingCosts`	$8.19K	USD	2 Qtrs
Amortization of debt issuance costs	`AmortizationOfFinancingCostsAndDiscounts`	$800.00	USD	2 Qtrs
Amortization of debt issuance costs	`AmortizationOfFinancingCostsAndDiscounts`	-	USD	2 Qtrs
Amortization of original issue discount	`AmortizationOfDebtDiscountPremium`	$2.33K	USD	2 Qtrs
Amortization of original issue discount	`AmortizationOfDebtDiscountPremium`	-	USD	2 Qtrs
(Increase) decrease in prepaid expense	`IncreaseDecreaseInPrepaidExpense`	$-41.60K	USD	2 Qtrs
(Increase) decrease in prepaid expense	`IncreaseDecreaseInPrepaidExpense`	$-40.46K	USD	2 Qtrs
(Increase) decrease in deposits	`IncreaseDecreaseInCustomerDeposits`	$-114.63K	USD	2 Qtrs
(Increase) decrease in deposits	`IncreaseDecreaseInCustomerDeposits`	$-5.74K	USD	2 Qtrs
Increase in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-130.58K	USD	2 Qtrs
Increase in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-13.28K	USD	2 Qtrs
Increase in customer deposits	`IncreaseDecreaseInCustomerAdvancesAndDeposits`	-	USD	2 Qtrs
Increase in customer deposits	`IncreaseDecreaseInCustomerAdvancesAndDeposits`	$15.00K	USD	2 Qtrs
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$187.62K	USD	2 Qtrs
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$-50.51K	USD	2 Qtrs
Increase (decrease) in accounts payable related party	`IncreaseDecreaseInAccountsPayableRelatedParties`	$149.69K	USD	2 Qtrs
Increase (decrease) in accounts payable related party	`IncreaseDecreaseInAccountsPayableRelatedParties`	$41.90K	USD	2 Qtrs
Net cash from operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-699.47K	USD	2 Qtrs
Net cash from operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-653.16K	USD	2 Qtrs
Purchase of intangible assets	`PaymentsToAcquireIntangibleAssets`	$22.49K	USD	2 Qtrs
Purchase of intangible assets	`PaymentsToAcquireIntangibleAssets`	$5.96K	USD	2 Qtrs
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$97.00	USD	2 Qtrs
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$14.20K	USD	2 Qtrs
Investment in capitalized software	`InvestmentCompanyCommittedCapital`	$50.37K	USD	2 Qtrs
Investment in capitalized software	`InvestmentCompanyCommittedCapital`	$122.15K	USD	2 Qtrs
Cash received on sale of assets	`ProceedsFromSaleOfForeclosedAssets`	$7.00K	USD	2 Qtrs
Cash received on sale of assets	`ProceedsFromSaleOfForeclosedAssets`	-	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-142.31K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-65.96K	USD	2 Qtrs
Payments on promissory notes	`RepaymentsOfSubordinatedShortTermDebt`	$35.19K	USD	2 Qtrs
Payments on promissory notes	`RepaymentsOfSubordinatedShortTermDebt`	$7.40K	USD	2 Qtrs
Proceeds from promissory notes	`ProceedsFromOtherShortTermDebt`	$25.71K	USD	2 Qtrs
Proceeds from promissory notes	`ProceedsFromOtherShortTermDebt`	$453.49K	USD	2 Qtrs
Proceeds from related part debts	`ProceedsFromRelatedPartyDebt`	$144.10K	USD	2 Qtrs
Proceeds from related part debts	`ProceedsFromRelatedPartyDebt`	-	USD	2 Qtrs
Payments on related party debts	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$-40.00K	USD	2 Qtrs
Payments on related party debts	`ProceedsFromRepaymentsOfRelatedPartyDebt`	-	USD	2 Qtrs
Proceeds from convertible debt, net of issuance costs	`ProceedsFromConvertibleDebt`	-	USD	2 Qtrs
Proceeds from convertible debt, net of issuance costs	`ProceedsFromConvertibleDebt`	$184.25K	USD	2 Qtrs
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$549.00K	USD	2 Qtrs
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$203.92K	USD	2 Qtrs
Net cash from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$567.30K	USD	2 Qtrs
Net cash from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$910.57K	USD	2 Qtrs
Net increase (decrease) in Cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$115.09K	USD	2 Qtrs
Net increase (decrease) in Cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-198.12K	USD	2 Qtrs
Beginning cash balance	`CashAndCashEquivalentsAtCarryingValue`	$172.22K	USD	Point-in-time
Beginning cash balance	`CashAndCashEquivalentsAtCarryingValue`	$57.13K	USD	Point-in-time
Beginning cash balance	`CashAndCashEquivalentsAtCarryingValue`	$238.41K	USD	Point-in-time
Beginning cash balance	`CashAndCashEquivalentsAtCarryingValue`	$436.53K	USD	Point-in-time
Ending cash balance	`CashAndCashEquivalentsAtCarryingValue`	$172.22K	USD	Point-in-time
Ending cash balance	`CashAndCashEquivalentsAtCarryingValue`	$57.13K	USD	Point-in-time
Ending cash balance	`CashAndCashEquivalentsAtCarryingValue`	$238.41K	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`	$36.60K	USD	2 Qtrs
Cash paid for tax	`IncomeTaxesPaidNet`	-	USD	2 Qtrs
Cash paid for tax	`IncomeTaxesPaidNet`	-	USD	2 Qtrs
Cashless exercise of options	`CashlessExerciseofOptions`	$4.40K	USD	2 Qtrs
Cashless exercise of options	`CashlessExerciseofOptions`	$387.00	USD	2 Qtrs
Stock issued to settle debt	`StockIssuedDuringPeriodSharesOther`	212,500.00	shares	2 Qtrs
Stock issued to settle debt	`StockIssuedDuringPeriodSharesOther`	11,970.00	shares	2 Qtrs
Returnable shares issued as depsoit on convertible debt	`StockIssuedDuringPeriodSharesIssuedForServices`	-	shares	2 Qtrs
Returnable shares issued as depsoit on convertible debt	`StockIssuedDuringPeriodSharesIssuedForServices`	218,625.00	shares	2 Qtrs
Options and warrants for services	`OptionsWarrantsIssuedForServices`	-	shares	2 Qtrs
Options and warrants for services	`OptionsWarrantsIssuedForServices`	626,595.00	shares	2 Qtrs

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