10-K Filing

BITMINE IMMERSION TECHNOLOGIES, INC. CIK: 1829311 FY 2022

Filing Information

Form Type	10-K
Accession Number	`0001683168-22-008295`
Period End Date	20220831
Filing Date	20221209
Fiscal Year	2022
Fiscal Period	FY
XBRL Instance	bitmine_i10k-083122_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 53 Income Statement 32 Cash Flow Statement 42 Stockholders Equity 17

Balance Sheet 53 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$392.55K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$218.74K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	-	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$5.00K	USD	Point-in-time
Common Stock, Par or Stated Value Per Share	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Notes receivable - short term	`ReceivablesNetCurrent`	$491.39K	USD	Point-in-time
Common Stock, Par or Stated Value Per Share	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Notes receivable - short term	`ReceivablesNetCurrent`	-	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$888.95K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$218.74K	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	40.43M	shares	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	48.61M	shares	Point-in-time
Cryptocurrency	`Cryptocurrency`	-	USD	Point-in-time
Cryptocurrency	`Cryptocurrency`	$21.43K	USD	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	48.61M	shares	Point-in-time
Notes receivable - long term	`LongTermAccountsNotesAndLoansReceivableNetNoncurrent`	$532.35K	USD	Point-in-time
Notes receivable - long term	`LongTermAccountsNotesAndLoansReceivableNetNoncurrent`	-	USD	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	40.43M	shares	Point-in-time
Fixed assets, net	`FixedAssetsNet`	$21.88K	USD	Point-in-time
Fixed assets, net	`FixedAssetsNet`	-	USD	Point-in-time
Fixed assets - not in service	`FixedAssetsNotInService`	$6.51M	USD	Point-in-time
Fixed assets - not in service	`FixedAssetsNotInService`	$427.30K	USD	Point-in-time
Total assets	`Assets`	$646.03K	USD	Point-in-time
Total assets	`Assets`	$7.97M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$84.76K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$3.68K	USD	Point-in-time
Accrued interest - related party	`InterestPayableCurrent`	-	USD	Point-in-time
Accrued interest - related party	`InterestPayableCurrent`	$4.50K	USD	Point-in-time
Loans payable - related party	`LoansPayableRelatedParty`	-	USD	Point-in-time
Loans payable - related party	`LoansPayableRelatedParty`	$277.30K	USD	Point-in-time
Deferred revenue	`DeferredRevenue`	$232.91K	USD	Point-in-time
Deferred revenue	`DeferredRevenue`	-	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$285.48K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$317.67K	USD	Point-in-time
Deferred revenue -long term	`DeferredRevenueNoncurrent`	-	USD	Point-in-time
Deferred revenue -long term	`DeferredRevenueNoncurrent`	$252.32K	USD	Point-in-time
Total liabilities	`Liabilities`	$570.00K	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; 48,606,915 and 40,433,399 issued and outstanding as of August 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; 48,606,915 and 40,433,399 issued and outstanding as of August 31, 2022 and August 31, 2021 respectively	`CommonStockValue`	$4.86K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$9.87M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$817.84K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-2.47M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-461.33K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$360.55K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$7.40M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$-50.08K	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$646.03K	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$7.97M	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Earnings Per Share, Basic	`EarningsPerShareBasic`	$-0.02	USD	Annual
Earnings Per Share, Basic	`EarningsPerShareBasic`	$-0.05	USD	Annual
Earnings Per Share, Diluted	`EarningsPerShareDiluted`	$-0.02	USD	Annual
Earnings Per Share, Diluted	`EarningsPerShareDiluted`	$-0.05	USD	Annual
Weighted Average Number of Shares Outstanding, Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	9.76M	shares	Annual
Weighted Average Number of Shares Outstanding, Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	43.11M	shares	Annual
Weighted Average Number of Shares Outstanding, Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	9.76M	shares	Annual
Weighted Average Number of Shares Outstanding, Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	43.11M	shares	Annual
Total revenue	`Revenues`	-	USD	Annual
Total revenue	`Revenues`	$427.67K	USD	Annual
Total cost of sales	`CostOfRevenue`	-	USD	Annual
Total cost of sales	`CostOfRevenue`	$556.70K	USD	Annual
Gross profit	`GrossProfit`	$-129.03K	USD	Annual
Gross profit	`GrossProfit`	-	USD	Annual
General and administrative expenses	`GeneralAndAdministrativeExpense`	$227.60K	USD	Annual
General and administrative expenses	`GeneralAndAdministrativeExpense`	$63.81K	USD	Annual
Professional and investment banking fees	`ProfessionalFees`	-	USD	Annual
Professional and investment banking fees	`ProfessionalFees`	$856.92K	USD	Annual
Related party compensation	`CostsAndExpensesRelatedParty`	$489.10K	USD	Annual
Related party compensation	`CostsAndExpensesRelatedParty`	$68.00K	USD	Annual
Impairment of cryptocurrency	`ImpairmentOfCryptocurrency`	$11.54K	USD	Annual
Impairment of cryptocurrency	`ImpairmentOfCryptocurrency`	-	USD	Annual
Total operating expenses	`OperatingExpenses`	$131.81K	USD	Annual
Total operating expenses	`OperatingExpenses`	$1.59M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-1.71M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-131.81K	USD	Annual
Interest expense	`InterestExpenseOther`	$291.05K	USD	Annual
Interest expense	`InterestExpenseOther`	$22.42K	USD	Annual
Other (expense)	`NonoperatingIncomeExpense`	$-291.05K	USD	Annual
Other (expense)	`NonoperatingIncomeExpense`	$-22.42K	USD	Annual
Net loss	`NetIncomeLoss`	$-2.01M	USD	Annual
Net loss	`NetIncomeLoss`	$-154.24K	USD	Annual

Cash Flow Statement 42 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-2.01M	USD	Annual
Net loss	`NetIncomeLoss`	$-154.24K	USD	Annual
Stock based compensation	`ShareBasedCompensation`	$71.25K	USD	Annual
Stock based compensation	`ShareBasedCompensation`	$856.72K	USD	Annual
Depreciation	`Depreciation`	-	USD	Annual
Depreciation	`Depreciation`	$3.12K	USD	Annual
Notes receivable	`IncreaseDecreaseInNotesReceivables`	-	USD	Annual
Notes receivable	`IncreaseDecreaseInNotesReceivables`	$1.02M	USD	Annual
Cryptocurrencies	`IncreaseDecreaseInCryptocurrencies`	-	USD	Annual
Cryptocurrencies	`IncreaseDecreaseInCryptocurrencies`	$21.43K	USD	Annual
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$5.00K	USD	Annual
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	-	USD	Annual
Accounts payable	`IncreaseDecreaseInOtherAccountsPayable`	$81.08K	USD	Annual
Accounts payable	`IncreaseDecreaseInOtherAccountsPayable`	$3.68K	USD	Annual
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	-	USD	Annual
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$485.23K	USD	Annual
Accrued liabilities -related parties	`IncreaseDecreaseInAccountsPayableRelatedParties`	$2.95K	USD	Annual
Accrued liabilities -related parties	`IncreaseDecreaseInAccountsPayableRelatedParties`	-	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.63M	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-76.36K	USD	Annual
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$427.30K	USD	Annual
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$6.11M	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-427.30K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-6.11M	USD	Annual
Common shares sold in a private placement	`CommonSharesSoldInPrivatePlacement`	$493.62K	USD	Annual
Common shares sold in a private placement	`CommonSharesSoldInPrivatePlacement`	$5.15M	USD	Annual
Related party loans -net	`ProceedsFromRelatedPartyDebt`	$226.85K	USD	Annual
Related party loans -net	`ProceedsFromRelatedPartyDebt`	$2.76M	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$7.91M	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$720.46K	USD	Annual
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$173.81K	USD	Annual
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$216.81K	USD	Annual
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`	$392.55K	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`	$392.55K	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	-	USD	Annual
Cash paid for interest	`InterestPaidNet`	-	USD	Annual
Cash paid for income taxes	`IncomeTaxesPaidNet`	-	USD	Annual
Cash paid for income taxes	`IncomeTaxesPaidNet`	-	USD	Annual

Stockholders Equity 17 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, value	`StockholdersEquity`	$360.55K	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$7.40M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-50.08K	USD	Point-in-time
Common shares sold in a private placement	`StockIssuedDuringPeriodValueNewIssues`	$493.62K	USD	Annual
Common shares sold in a private placement	`StockIssuedDuringPeriodValueNewIssues`	$5.15M	USD	Annual
Balance. August 31, 2022	`StockholdersEquity`	$360.55K	USD	Point-in-time
Balance. August 31, 2022	`StockholdersEquity`	$7.40M	USD	Point-in-time
Balance. August 31, 2022	`StockholdersEquity`	$-50.08K	USD	Point-in-time
Stock based compensation - related party	`StockBasedCompensationRelatedPartyValue`	$67.50K	USD	Annual
Stock based compensation - related party	`StockBasedCompensationRelatedPartyValue`	$108.74K	USD	Annual
Conversion of debt to Series A Preferred - related party	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	$3.04M	USD	Annual
Series A Preferred for services - related party	`SeriesPreferredForServicesRelatedParty`	-	USD	Annual
Common stock issued for services - related party	`CommonStockIssuedForServicesRelatedParty`	$110.00K	USD	Annual
Common shares issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$637.96K	USD	Annual
Stock based compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$3.75K	USD	Annual
Net loss	`NetIncomeLoss`	$-2.01M	USD	Annual
Net loss	`NetIncomeLoss`	$-154.24K	USD	Annual

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