10-Q Filing

BITMINE IMMERSION TECHNOLOGIES, INC. CIK: 1829311 Q1 2022

Filing Information

Form Type	10-Q
Accession Number	`0001683168-22-000208`
Period End Date	20211130
Filing Date	20220111
Fiscal Year	2022
Fiscal Period	Q1
XBRL Instance	bitmine_i10q-113021_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 44 Income Statement 20 Cash Flow Statement 34 Stockholders Equity 12

Balance Sheet 44 line items

Line Item	Tag	Value	Unit	Period
Common Stock, Par or Stated Value Per Share	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common Stock, Par or Stated Value Per Share	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	500.00M	shares	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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.72K	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$142.07K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$142.07K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$218.74K	USD	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	40.43M	shares	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	40.63M	shares	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	40.63M	shares	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	40.43M	shares	Point-in-time
Fixed assets -not in service	`PropertyPlantAndEquipmentNet`	$1.90M	USD	Point-in-time
Fixed assets -not in service	`PropertyPlantAndEquipmentNet`	$427.30K	USD	Point-in-time
Total assets	`Assets`	$2.05M	USD	Point-in-time
Total assets	`Assets`	$646.03K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$28.70K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$3.68K	USD	Point-in-time
Accrued liabilities - related party	`AccountsPayableRelatedPartiesCurrent`	-	USD	Point-in-time
Accrued liabilities - related party	`AccountsPayableRelatedPartiesCurrent`	$19.50K	USD	Point-in-time
Accrued interest - related party	`InterestPayableCurrent`	$4.50K	USD	Point-in-time
Accrued interest - related party	`InterestPayableCurrent`	$49.22K	USD	Point-in-time
Loans payable - related party	`NotesPayableRelatedPartiesClassifiedCurrent`	$1.75M	USD	Point-in-time
Loans payable - related party	`NotesPayableRelatedPartiesClassifiedCurrent`	$277.30K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$285.48K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.84M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.84M	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; 40,633,399 and 40,433,399 issued and outstanding as of November 30, 2021 and August 31, 2021, respectively	`CommonStockValue`	$4.06K	USD	Point-in-time
Common stock, $0.0001 par value, 500,000,000 shares authorized; 40,633,399 and 40,433,399 issued and outstanding as of November 30, 2021 and August 31, 2021, respectively	`CommonStockValue`	$4.04K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$1.37M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$817.84K	USD	Point-in-time
Retained earnings deficit	`RetainedEarningsAccumulatedDeficit`	$-1.17M	USD	Point-in-time
Retained earnings deficit	`RetainedEarningsAccumulatedDeficit`	$-461.33K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$201.80K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$360.55K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$-71.05K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$-50.08K	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$2.05M	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$646.03K	USD	Point-in-time

Income Statement 20 line items

Line Item	Tag	Value	Unit	Period
General and administrative expenses	`GeneralAndAdministrativeExpense`	-	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$28.54K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$17.21K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$623.50K	USD	1 Quarter
Related party compensation	`CostsAndExpensesRelatedParty`	$12.00K	USD	1 Quarter
Related party compensation	`CostsAndExpensesRelatedParty`	-	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$664.04K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$17.21K	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$-664.04K	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$-17.21K	USD	1 Quarter
Interest expense	`InterestExpenseOther`	$3.77K	USD	1 Quarter
Interest expense	`InterestExpenseOther`	$44.71K	USD	1 Quarter
Other income (expense), net	`NonoperatingIncomeExpense`	$-44.71K	USD	1 Quarter
Other income (expense), net	`NonoperatingIncomeExpense`	$-3.77K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-20.98K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-708.76K	USD	1 Quarter
Basic and diluted earnings (loss) per common share	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	1 Quarter
Basic and diluted earnings (loss) per common share	`EarningsPerShareBasicAndDiluted`	$-0.02	USD	1 Quarter
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	2.69M	shares	1 Quarter
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	40.60M	shares	1 Quarter

Cash Flow Statement 34 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-20.98K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-708.76K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	-	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$550.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInOtherAccountsPayable`	$25.02K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInOtherAccountsPayable`	-	USD	1 Quarter
Accrued liabilities - related parties	`IncreaseDecreaseInAccountsPayableRelatedParties`	-	USD	1 Quarter
Accrued liabilities - related parties	`IncreaseDecreaseInAccountsPayableRelatedParties`	$19.50K	USD	1 Quarter
Accrued interest - related parties	`IncreaseDecreaseInInterestPayableNet`	$44.71K	USD	1 Quarter
Accrued interest - related parties	`IncreaseDecreaseInInterestPayableNet`	$3.77K	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-17.21K	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-69.52K	USD	1 Quarter
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	1 Quarter
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.48M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.48M	USD	1 Quarter
Related party loans - net	`ProceedsFromRelatedPartyDebt`	$19.00K	USD	1 Quarter
Related party loans - net	`ProceedsFromRelatedPartyDebt`	$1.47M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$19.00K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.47M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-76.67K	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$1.79K	USD	1 Quarter
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 beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$3.72K	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$142.07K	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 and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$3.72K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$142.07K	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	-	USD	1 Quarter
Cash paid for interest	`InterestPaidNet`	-	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaidNet`	-	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaidNet`	-	USD	1 Quarter

Stockholders Equity 12 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, value	`StockholdersEquity`	$201.80K	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$360.55K	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-71.05K	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-50.08K	USD	Point-in-time
Net loss	`NetIncomeLoss`	$-20.98K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-708.76K	USD	1 Quarter
Common shares issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$550.00K	USD	1 Quarter
Common shares issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	-	USD	1 Quarter
Ending balance, value	`StockholdersEquity`	$201.80K	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$360.55K	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-71.05K	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-50.08K	USD	Point-in-time

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