10-K Filing

BITMINE IMMERSION TECHNOLOGIES, INC. CIK: 1829311 FY 2021

Filing Information

Form Type	10-K
Accession Number	`0001683168-21-006222`
Period End Date	20210831
Filing Date	20211209
Fiscal Year	2021
Fiscal Period	FY
XBRL Instance	ress-20210831.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 40 Income Statement 18 Cash Flow Statement 32 Stockholders Equity 11

Balance Sheet 40 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`	500.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.93K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$218.74K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$218.74K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.93K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	2.69M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	40.43M	shares	Point-in-time
Fixed assets -not in service	`PropertyPlantAndEquipmentNet`	$427.30K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	40.43M	shares	Point-in-time
Fixed assets -not in service	`PropertyPlantAndEquipmentNet`	-	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	2.69M	shares	Point-in-time
Total assets	`Assets`	$646.03K	USD	Point-in-time
Total assets	`Assets`	$1.93K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	-	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$3.68K	USD	Point-in-time
Accrued interest-related party	`InterestPayableCurrent`	$1.56K	USD	Point-in-time
Accrued interest-related party	`InterestPayableCurrent`	$4.50K	USD	Point-in-time
Loans payable-related party	`NotesPayableRelatedPartiesClassifiedCurrent`	$50.45K	USD	Point-in-time
Loans payable-related party	`NotesPayableRelatedPartiesClassifiedCurrent`	$277.30K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$52.01K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$285.48K	USD	Point-in-time
Total liabilities	`Liabilities`	$52.01K	USD	Point-in-time
Total liabilities	`Liabilities`	$285.48K	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, $0.0001 par value, 500,000,000 shares authorized; 40,433,399 and 2,688,400 issued and outstanding as of August 31, 2021 and August 31, 2020, respectively	`CommonStockValue`	$269.00	USD	Point-in-time
Common stock, $0.0001 par value, 500,000,000 shares authorized; 40,433,399 and 2,688,400 issued and outstanding as of August 31, 2021 and August 31, 2020, respectively	`CommonStockValue`	$4.04K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$256.75K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$817.84K	USD	Point-in-time
Retained earnings deficit	`RetainedEarningsAccumulatedDeficit`	$-307.10K	USD	Point-in-time
Retained earnings deficit	`RetainedEarningsAccumulatedDeficit`	$-461.33K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$360.55K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$-50.08K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$-48.52K	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$1.93K	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$646.03K	USD	Point-in-time

Income Statement 18 line items

Line Item	Tag	Value	Unit	Period
General and administrative expenses	`GeneralAndAdministrativeExpense`	-	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$63.81K	USD	Annual
Related party compensation	`CostsAndExpensesRelatedParty`	-	USD	1 Quarter
Related party compensation	`CostsAndExpensesRelatedParty`	$68.00K	USD	Annual
Total operating expenses	`OperatingExpenses`	-	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$131.81K	USD	Annual
Income (loss) from operations	`OperatingIncomeLoss`	$-131.81K	USD	Annual
Income (loss) from operations	`OperatingIncomeLoss`	-	USD	1 Quarter
Interest expense	`InterestExpenseOther`	$1.56K	USD	1 Quarter
Interest expense	`InterestExpenseOther`	$22.42K	USD	Annual
Other income (expense), net	`NonoperatingIncomeExpense`	$-22.42K	USD	Annual
Other income (expense), net	`NonoperatingIncomeExpense`	$-1.56K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-154.24K	USD	Annual
Net loss	`NetIncomeLoss`	$-1.56K	USD	1 Quarter
Basic and diluted earnings (loss) per common share	`EarningsPerShareBasicAndDiluted`	$-0.02	USD	Annual
Basic and diluted earnings (loss) per common share	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Weighted-average number of common shares outstanding: Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	2.69M	shares	1 Quarter
Weighted-average number of common shares outstanding: Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	9.76M	shares	Annual

Cash Flow Statement 32 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-154.24K	USD	Annual
Net loss	`NetIncomeLoss`	$-1.56K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	-	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$71.25K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	-	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$3.68K	USD	Annual
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	$2.95K	USD	Annual
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	$1.56K	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-76.36K	USD	Annual
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	-	USD	1 Quarter
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$427.30K	USD	Annual
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-427.30K	USD	Annual
Private placements of common stock	`ProceedsFromIssuanceOfPrivatePlacement`	$493.62K	USD	Annual
Private placements of common stock	`ProceedsFromIssuanceOfPrivatePlacement`	-	USD	1 Quarter
Related party loans -net	`ProceedsFromRelatedPartyDebt`	$226.85K	USD	Annual
Related party loans -net	`ProceedsFromRelatedPartyDebt`	-	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$720.46K	USD	Annual
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$216.81K	USD	Annual
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	-	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.93K	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$218.74K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.93K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$218.74K	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	-	USD	Annual
Cash paid for interest	`InterestPaidNet`	-	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaidNet`	-	USD	Annual
Cash paid for income taxes	`IncomeTaxesPaidNet`	-	USD	1 Quarter

Stockholders Equity 11 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, value	`StockholdersEquity`	$360.55K	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-50.08K	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-48.52K	USD	Point-in-time
Proceeds from private placement of common shares, value	`StockIssuedDuringPeriodValueNewIssues`	$493.62K	USD	Annual
Stock based compensation related party, value	`StockBasedCompensationRelatedPartyValue`	$67.50K	USD	Annual
Stock based compensation, value	`StockIssuedDuringPeriodValueShareBasedCompensation`	$3.75K	USD	Annual
Net loss	`ProfitLoss`	$-1.56K	USD	1 Quarter
Net loss	`ProfitLoss`	$-154.24K	USD	Annual
Ending balance, value	`StockholdersEquity`	$360.55K	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-50.08K	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-48.52K	USD	Point-in-time

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