10-Q Filing

BITMINE IMMERSION TECHNOLOGIES, INC. CIK: 1829311 Q3 2022

Filing Information

Form Type	10-Q
Accession Number	`0001683168-22-004957`
Period End Date	20220531
Filing Date	20220714
Fiscal Year	2022
Fiscal Period	Q3
XBRL Instance	bitmine_10q-053122_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 57 Income Statement 68 Cash Flow Statement 50 Stockholders Equity 30

Balance Sheet 57 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
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	44.09M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$218.74K	USD	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	40.43M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$499.91K	USD	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	40.43M	shares	Point-in-time
Other receivable	`OtherReceivablesNetCurrent`	-	USD	Point-in-time
Other receivable	`OtherReceivablesNetCurrent`	-	USD	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	44.09M	shares	Point-in-time
Subscriptions receivable	`CommonStockShareSubscribedButUnissuedSubscriptionsReceivable`	-	USD	Point-in-time
Subscriptions receivable	`CommonStockShareSubscribedButUnissuedSubscriptionsReceivable`	-	USD	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstannding`	40.43M	shares	Point-in-time
Cryptocurrencies	`Cryptocurrencies`	-	USD	Point-in-time
Cryptocurrencies	`Cryptocurrencies`	$17.37K	USD	Point-in-time
Notes receivable	`ReceivablesNetCurrent`	-	USD	Point-in-time
Notes receivable	`ReceivablesNetCurrent`	$168.75K	USD	Point-in-time
Accounts receivable - other	`AccountsAndOtherReceivablesNetCurrent`	$6.68K	USD	Point-in-time
Accounts receivable - other	`AccountsAndOtherReceivablesNetCurrent`	-	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$29.23K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	-	USD	Point-in-time
Total current assets	`AssetsCurrent`	$721.94K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$218.74K	USD	Point-in-time
Fixed assets - not in service	`PropertyPlantAndEquipmentNet`	$427.30K	USD	Point-in-time
Fixed assets - not in service	`PropertyPlantAndEquipmentNet`	$2.69M	USD	Point-in-time
Total assets	`Assets`	$3.41M	USD	Point-in-time
Total assets	`Assets`	$646.03K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$72.61K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$3.68K	USD	Point-in-time
Accrued liabilities - related party	`AccountsPayableRelatedPartiesCurrent`	$102.79K	USD	Point-in-time
Accrued liabilities - related party	`AccountsPayableRelatedPartiesCurrent`	-	USD	Point-in-time
Accrued interest - related party	`InterestPayableCurrent`	$200.67K	USD	Point-in-time
Accrued interest - related party	`InterestPayableCurrent`	$4.50K	USD	Point-in-time
Loans payable-related party	`LoansPayableRelatedParty`	$1.89M	USD	Point-in-time
Loans payable-related party	`LoansPayableRelatedParty`	$277.30K	USD	Point-in-time
Total liabilities	`LiabilitiesCurrent`	$2.27M	USD	Point-in-time
Total liabilities	`LiabilitiesCurrent`	$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; 44,086,091 and 40,433,399 issued and outstanding as of May 31, 2022 and August 31, 2021 respectively	`CommonStockValue`	$4.04K	USD	Point-in-time
Common stock, $0.0001 par value, 500,000,000 shares authorized; 44,086,091 and 40,433,399 issued and outstanding as of May 31, 2022 and August 31, 2021 respectively	`CommonStockValue`	$4.41K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$2.90M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$817.84K	USD	Point-in-time
Retained earnings deficit	`RetainedEarningsAccumulatedDeficit`	$-1.77M	USD	Point-in-time
Retained earnings deficit	`RetainedEarningsAccumulatedDeficit`	$-461.33K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$1.14M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$-71.05K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$360.55K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$830.13K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$201.80K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$-100.21K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$-50.08K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$-81.42K	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$646.03K	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$3.41M	USD	Point-in-time

Income Statement 68 line items

Line Item	Tag	Value	Unit	Period
Total revenue	`Revenues`	$365.84K	USD	3 Qtrs
Total revenue	`Revenues`	-	USD	1 Quarter
Total revenue	`Revenues`	-	USD	3 Qtrs
Total revenue	`Revenues`	$16.57K	USD	1 Quarter
Total cost of sales	`CostOfRevenue`	$99.71K	USD	1 Quarter
Total cost of sales	`CostOfRevenue`	-	USD	3 Qtrs
Total cost of sales	`CostOfRevenue`	-	USD	1 Quarter
Total cost of sales	`CostOfRevenue`	$331.84K	USD	3 Qtrs
Gross profit	`GrossProfit`	$-83.14K	USD	1 Quarter
Gross profit	`GrossProfit`	-	USD	3 Qtrs
Gross profit	`GrossProfit`	$34.01K	USD	3 Qtrs
Gross profit	`GrossProfit`	-	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	-	USD	3 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	-	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$189.98K	USD	3 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$141.31K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$13.55K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$742.73K	USD	3 Qtrs
Professional fees	`ProfessionalFees`	$75.70K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$36.11K	USD	3 Qtrs
Related party compensation	`CostsAndExpensesRelatedParty`	$109.17K	USD	1 Quarter
Related party compensation	`CostsAndExpensesRelatedParty`	-	USD	1 Quarter
Related party compensation	`CostsAndExpensesRelatedParty`	$500.00	USD	3 Qtrs
Related party compensation	`CostsAndExpensesRelatedParty`	$213.63K	USD	3 Qtrs
Impairment of cryptocurrency	`ImpairmentOfCryptocurrency`	-	USD	1 Quarter
Impairment of cryptocurrency	`ImpairmentOfCryptocurrency`	$3.77K	USD	3 Qtrs
Impairment of cryptocurrency	`ImpairmentOfCryptocurrency`	-	USD	3 Qtrs
Impairment of cryptocurrency	`ImpairmentOfCryptocurrency`	$3.77K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$36.61K	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$1.15M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$329.96K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$13.55K	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$-36.61K	USD	3 Qtrs
Income (loss) from operations	`OperatingIncomeLoss`	$-413.11K	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$-13.55K	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$-1.12M	USD	3 Qtrs
Interest expense	`InterestExpenseOther`	$6.39K	USD	1 Quarter
Interest expense	`InterestExpenseOther`	$14.67K	USD	3 Qtrs
Interest expense	`InterestExpenseOther`	$78.29K	USD	1 Quarter
Interest expense	`InterestExpenseOther`	$196.16K	USD	3 Qtrs
Interest income	`InterestIncomeOperating`	-	USD	3 Qtrs
Interest income	`InterestIncomeOperating`	-	USD	1 Quarter
Interest income	`InterestIncomeOperating`	$4.49K	USD	3 Qtrs
Interest income	`InterestIncomeOperating`	$4.49K	USD	1 Quarter
Other income (expense), net	`NonoperatingIncomeExpense`	$-73.81K	USD	1 Quarter
Other income (expense), net	`NonoperatingIncomeExpense`	$-191.68K	USD	3 Qtrs
Other income (expense), net	`NonoperatingIncomeExpense`	$-6.39K	USD	1 Quarter
Other income (expense), net	`NonoperatingIncomeExpense`	$-14.67K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-1.31M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-19.94K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-486.91K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-51.29K	USD	3 Qtrs
Basic loss per common share	`EarningsPerShareBasic`	$-0.03	USD	3 Qtrs
Basic loss per common share	`EarningsPerShareBasic`	$-0.02	USD	3 Qtrs
Basic loss per common share	`EarningsPerShareBasic`	$-0.01	USD	1 Quarter
Basic loss per common share	`EarningsPerShareBasic`	$-0.01	USD	1 Quarter
Diluted loss per common share	`EarningsPerShareDiluted`	$-0.01	USD	1 Quarter
Diluted loss per common share	`EarningsPerShareDiluted`	$-0.03	USD	3 Qtrs
Diluted loss per common share	`EarningsPerShareDiluted`	$-0.01	USD	1 Quarter
Diluted loss per common share	`EarningsPerShareDiluted`	$-0.02	USD	3 Qtrs
Weighted-average number of common shares outstanding: Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	43.71M	shares	1 Quarter
Weighted-average number of common shares outstanding: Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	2.69M	shares	3 Qtrs
Weighted-average number of common shares outstanding: Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	2.80M	shares	1 Quarter
Weighted-average number of common shares outstanding: Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	41.91M	shares	3 Qtrs
Weighted-average number of common shares outstanding: Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	41.91M	shares	3 Qtrs
Weighted-average number of common shares outstanding: Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	43.71M	shares	1 Quarter
Weighted-average number of common shares outstanding: Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	2.80M	shares	1 Quarter
Weighted-average number of common shares outstanding: Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	2.69M	shares	3 Qtrs

Cash Flow Statement 50 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-1.31M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-19.94K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-486.91K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-51.29K	USD	3 Qtrs
Stock based compensation	`ShareBasedCompensation`	$699.80K	USD	3 Qtrs
Stock based compensation	`ShareBasedCompensation`	-	USD	3 Qtrs
Gain on the sale of property	`GainOnSaleOfProperty`	$158.04K	USD	3 Qtrs
Gain on the sale of property	`GainOnSaleOfProperty`	-	USD	3 Qtrs
Depreciation	`Depreciation`	-	USD	3 Qtrs
Depreciation	`Depreciation`	$7.80K	USD	3 Qtrs
Cryptocurrencies	`IncreaseDecreaseInCryptocurrencies`	-	USD	3 Qtrs
Cryptocurrencies	`IncreaseDecreaseInCryptocurrencies`	$17.37K	USD	3 Qtrs
Accounts receivable other	`IncreaseDecreaseInAccountsAndOtherReceivables`	$6.68K	USD	3 Qtrs
Accounts receivable other	`IncreaseDecreaseInAccountsAndOtherReceivables`	-	USD	3 Qtrs
Notes receivable	`IncreaseDecreaseInNotesReceivables`	$168.75K	USD	3 Qtrs
Notes receivable	`IncreaseDecreaseInNotesReceivables`	-	USD	3 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$29.23K	USD	3 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	-	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInOtherAccountsPayable`	$68.93K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInOtherAccountsPayable`	-	USD	3 Qtrs
Accrued liabilities - related parties	`IncreaseDecreaseInAccountsPayableRelatedParties`	-	USD	3 Qtrs
Accrued liabilities - related parties	`IncreaseDecreaseInAccountsPayableRelatedParties`	$102.79K	USD	3 Qtrs
Accrued interest - related parties	`IncreaseDecreaseInInterestPayableNet`	$196.16K	USD	3 Qtrs
Accrued interest - related parties	`IncreaseDecreaseInInterestPayableNet`	$14.67K	USD	3 Qtrs
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-296.28K	USD	3 Qtrs
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-36.61K	USD	3 Qtrs
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.43M	USD	3 Qtrs
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.43M	USD	3 Qtrs
Common shares sold in a private placement	`CommonSharesSoldInPrivatePlacement`	$1.39M	USD	3 Qtrs
Common shares sold in a private placement	`CommonSharesSoldInPrivatePlacement`	$1.15K	USD	3 Qtrs
Related party loans - net	`ProceedsFromRelatedPartyDebt`	$1.62M	USD	3 Qtrs
Related party loans - net	`ProceedsFromRelatedPartyDebt`	$37.00K	USD	3 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$38.15K	USD	3 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$3.00M	USD	3 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$281.18K	USD	3 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$1.54K	USD	3 Qtrs
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.47K	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.93K	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$218.74K	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$499.91K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.47K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.93K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$218.74K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$499.91K	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	-	USD	3 Qtrs
Cash paid for interest	`InterestPaidNet`	-	USD	3 Qtrs
Cash paid for income taxes	`IncomeTaxesPaidNet`	-	USD	3 Qtrs
Cash paid for income taxes	`IncomeTaxesPaidNet`	-	USD	3 Qtrs

Stockholders Equity 30 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, value	`StockholdersEquity`	$1.14M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-71.05K	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$360.55K	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$830.13K	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$201.80K	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-100.21K	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-50.08K	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-81.42K	USD	Point-in-time
Net loss	`ProfitLoss`	$-19.94K	USD	1 Quarter
Net loss	`ProfitLoss`	$-708.76K	USD	1 Quarter
Net loss	`ProfitLoss`	$-10.37K	USD	1 Quarter
Net loss	`ProfitLoss`	$-486.91K	USD	1 Quarter
Net loss	`ProfitLoss`	$-112.13K	USD	1 Quarter
Net loss	`ProfitLoss`	$-20.98K	USD	1 Quarter
Common shares sold in a private placement	`StockIssuedDuringPeriodValueNewIssues`	$725.00K	USD	1 Quarter
Common shares sold in a private placement	`StockIssuedDuringPeriodValueNewIssues`	$1.15K	USD	1 Quarter
Common shares sold in a private placement	`StockIssuedDuringPeriodValueNewIssues`	$662.50K	USD	1 Quarter
Common shares issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	-	USD	1 Quarter
Common shares issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$550.00K	USD	1 Quarter
Common shares issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$87.96K	USD	1 Quarter
Stock based compensation -related party	`StockIssuedDuringPeriodValueShareBasedCompensation`	$15.46K	USD	1 Quarter
Stock based compensation -related party	`StockIssuedDuringPeriodValueShareBasedCompensation`	$46.38K	USD	1 Quarter
Ending balance, value	`StockholdersEquity`	$1.14M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-71.05K	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$360.55K	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$830.13K	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$201.80K	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-100.21K	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-50.08K	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-81.42K	USD	Point-in-time

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