0001493152-18-006508.txt : 20180510 0001493152-18-006508.hdr.sgml : 20180510 20180509181113 ACCESSION NUMBER: 0001493152-18-006508 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 53 CONFORMED PERIOD OF REPORT: 20180331 FILED AS OF DATE: 20180510 DATE AS OF CHANGE: 20180509 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MGT CAPITAL INVESTMENTS INC CENTRAL INDEX KEY: 0001001601 STANDARD INDUSTRIAL CLASSIFICATION: PATENT OWNERS & LESSORS [6794] IRS NUMBER: 134148725 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 001-32698 FILM NUMBER: 18819836 BUSINESS ADDRESS: STREET 1: 500 MAMARONECK AVENUE - SUITE 204 CITY: HARRISON STATE: NY ZIP: 10528 BUSINESS PHONE: (914) 630-7430 MAIL ADDRESS: STREET 1: 500 MAMARONECK AVENUE - SUITE 204 CITY: HARRISON STATE: NY ZIP: 10528 FORMER COMPANY: FORMER CONFORMED NAME: MEDICSIGHT INC DATE OF NAME CHANGE: 20021113 FORMER COMPANY: FORMER CONFORMED NAME: HTTP TECHNOLOGY INC DATE OF NAME CHANGE: 20001016 FORMER COMPANY: FORMER CONFORMED NAME: INTERNET HOLDINGS INC DATE OF NAME CHANGE: 19980520 10-Q 1 form10-q.htm

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

FORM 10–Q

 

[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

For the quarterly period ended March 31, 2018

 

[  ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

For the transition period from ______________ to ______________

 

Commission file number: 001–32698

 

MGT CAPITAL INVESTMENTS, INC.

(Exact name of registrant as specified in its charter)

 

Delaware   13–4148725
(State or other jurisdiction of
incorporation or organization)
  (I.R.S. Employer
Identification No.)

 

512 S. Mangum Street, Suite 408

Durham, NC 27701

(Address of principal executive offices)

 

(914) 630–7430

(Registrant’s telephone number, including area code)

 

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

Yes [X] No [  ]

 

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S–T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).

Yes [X] No [  ]

 

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non–accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b–2 of the Exchange Act.

 

Large accelerated filer [  ] Accelerated filer [  ]
Non–accelerated filer [  ] (Do not check if smaller reporting company) Smaller reporting company [X]
  Emerging growth company [  ]

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [  ]

 

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b–2 of the Exchange Act)

Yes [  ] No [X]

 

As of May 8, 2018, there were 70,250,626 shares of the registrant’s Common stock, $0.001 par value per share, issued and outstanding.

 

 

 

 
 

 

MGT CAPITAL INVESTMENTS, INC.

 

FORM 10-Q FOR THE QUARTER ENDED MARCH 31, 2018

 

TABLE OF CONTENTS

 

  Page
PART I. FINANCIAL INFORMATION  
Item 1. Financial Statements 1
Condensed Consolidated Balance Sheets as of March 31, 2018 (Unaudited) and December 31, 2017 1
Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) for the three months ended March 31, 2018 and 2017 2
Condensed Consolidated Statement of Changes in Stockholders’ Equity (Unaudited) for the three months ended March 31, 2018 3
Condensed Consolidated Statements of Cash Flows (Unaudited) for the three months ended March 31, 2018 and 2017 4
Notes to Unaudited Condensed Consolidated Financial Statements 6
Item 2. Management’s discussion and analysis of financial condition and results of operations 17
Item 3. Quantitative and qualitative disclosures about market risk 20
Item 4. Controls and procedures 20
 
PART II. OTHER INFORMATION  
Item 1. Legal proceedings 22
Item 1A. Risk factors 23
Item 2. Unregistered sales of equity securities and use of proceeds 23
Item 3. Defaults upon senior securities 23
Item 4. Mine safety disclosures 23
Item 5. Other information 23
Item 6. Exhibits 23
Signatures 24

 

 
 

 

PART 1 - FINANCIAL INFORMATION

 

Item 1. Financial Statements

 

MGT CAPITAL INVESTMENTS, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands, except share and per share amounts)

 

   March 31, 2018   December 31, 2017 
   (Unaudited)     
Assets          
Current assets          
Cash and cash equivalents  $461   $9,519 
Prepaid expenses and other current assets   1,778    894 
Digital currencies   22    48 
Total current assets   2,261    10,461 
           
Non-current assets          
Property and equipment, net   9,148    3,116 
Total assets  $11,409   $13,577 
           
Liabilities and Stockholders’ Equity          
Current liabilities          
Accounts payable  $347   $287 
Accrued expenses   577    707 
Other payables   615    710 
Total current liabilities   1,539    1,704 
           
Commitments and Contingencies          
Redeemable convertible preferred stock - temporary equity          
Preferred stock, Series A Convertible Preferred, $0.001 par value, 83,840 shares authorized at March 31, 2018 and December 31, 2017. No shares issued or outstanding at March 31, 2018 and December 31, 2017.   -    - 
           
Stockholders’ Equity          
Undesignated preferred stock, $0.001 par value, 8,500,000 shares authorized at March 31, 2018 and December 31, 2017. No shares issued or outstanding at March 31, 2018 and December 31, 2017   -    - 
Common stock, $0.001 par value; 125,000,000 shares authorized; 66,127,626 and 58,963,009 shares issued and outstanding at March 31, 2018 and December 31, 2017, respectively.   66    59 
Additional paid-in capital   395,789    390,736 
Accumulated deficit   (385,963)   (378,900)
Total equity attributable to MGT stockholders   9,892    11,895 
Non-controlling interest   (22)   (22)
Total equity   9,870    11,873 
           
Total liabilities, stockholders’ equity, redeemable convertible preferred stock and non-controlling interest  $11,409   $13,577 

 

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements

 

1
 

 

MGT CAPITAL INVESTMENTS, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

(in thousands, except share and per-share amounts)

(Unaudited)

 

   For the Three Months Ended March 31, 
   2018   2017 
         
Revenue  $956   $312 
           
Operating expenses          
Cost of revenue   881    201 
General and administrative   4,209    2,835 
Sales and marketing   55    118 
Research and development   47    103 
Total operating expenses   5,192    3,257 
           
Operating loss   (4,236)   (2,945)
           
Other non-operating expense          
Interest expense   -    (75)
Warrant modification expense   (139)   - 
Loss on sale of cyber security assets   (127)   - 
Loss on sale of property and equipment   (47)   - 
Impairment/loss on sale of investments   -    (2,871)
Total other non-operating expenses   (313)   (2,946)
           
Net loss   (4,549)   (5,891)
           
Deemed dividend   (2,514)   - 
           
Net loss attributable to common stockholders  $(7,063)  $(5,891)
           
Other comprehensive loss          
Reclassification adjustment for comprehensive loss included in net loss   -    66 
Comprehensive loss  $(7,063)  $(5,825)
           
Per-share data          
Basic and diluted loss per share  $(0.12)  $(0.20)
           
Weighted average number of common shares outstanding   59,482,132    29,699,244 

 

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements

 

2
 

 

MGT CAPITAL INVESTMENTS, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS’ EQUITY

FOR THE THREE MONTHS ENDED MARCH 31, 2018

(in thousands, except share and per-share amounts)

(Unaudited)

 

   Common Stock   Additional Paid-In   Accumulated   Total Equity Attributable to MGT   Non-controlling   Total
Stockholders’
 
   Shares   Amount   Capital   Deficit   Stockholders   interest   Equity 
Balance at January 1, 2018   58,963,009   $59   $390,736   $(378,900)  $11,895   $(22)  $11,873 
                                    
Stock-based compensation   850,000    1    1,086    -    1,087    -    1,087 
Stock issued for services   448,551    1    838    -    839    -    839 
Stock issued for prior year notes payable conversion   3,381,816    3    (3)   -    -    -    - 
Stock sold in connection with private placements   200,000    -    80    -    80    -    80 
Exercise of warrants   2,224,250    2    279    -    281    -    281 
Stock issued in disposition of cyber security assets   60,000    -    120    -    120    -    120 
Warrant modification expense   -    -    139    -    139    -    139 
Deemed dividend   -    -    2,514    (2,514)   -    -    - 
Net loss   -    -    -    (4,549)   (4,549)   -    (4,549)
                                    
Balance at March 31, 2018 (unaudited)   66,127,626   $66   $395,789   $(385,963)  $9,892   $(22)  $9,870 

 

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements

 

3
 

 

MGT CAPITAL INVESTMENTS, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(in thousands, except share and per-share amounts)

(Unaudited)

 

   For the Three Months Ended March 31, 
   2018   2017 
Cash Flows From Operating Activities          
Net loss  $(4,549)  $(5,891)
Adjustments to reconcile net loss to net cash used in operating activities          
Depreciation   481    99 
Amortization of intangible assets   -    42 
Stock-based compensation expense   2,227    1,299 
Warrant modification expense   139    - 
Loss on sale of property and equipment   47    - 
Loss on sale of cybersecurity assets   127    - 
Impairment/loss on sale of investments   -    2,871 
Accretion of debt discount   -    37 
Change in operating assets and liabilities          
Prepaid expenses and other current assets   (886)   33 
Digital currencies   26    (9)
Accounts payable   20    263 
Accrued expenses   (551)   72 
Other payables   -    5 
Net cash used in operating activities   (2,919)   (1,180)
           
Cash Flows From Investing Activities          
Purchase of property and equipment   (6,987)   - 
Proceeds from sale of cyber security unit   60    - 
Proceeds from sale of property and equipment   427    - 
Proceeds from sale of investments   -    26 
Net cash (used in) provided by investing activities   (6,500)   26 
           
Cash Flows From Financing Activities          
Proceeds from private placements of common stock   80    650 
Proceeds from issuance of convertible notes payable and warrants, net   -    493 
Proceeds from exercise of warrants   281    - 
Net cash provided by financing activities   361    1,143 
           
Net change in cash and cash equivalents   (9,058)   (11)
           
Cash and cash equivalents, beginning of period   9,519    345 
           
Cash and cash equivalents, end of period  $461   $334 

 

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements

 

4
 

 

MGT CAPITAL INVESTMENTS, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(in thousands, except share and per-share amounts)

(Unaudited)

 

   For the Three Months Ended March 31, 
   2018   2017 
Supplemental disclosure of cash flow information          
Cash paid for interest  $-   $7 
           
Cash paid for income tax  $-   $- 
           
Non-cash investing and financing activities          
Conversion of convertible debt and accrued interest  $-   $1,800 
Issuance of L2 commitment note  $-   $160 
Deemed dividend on trigger of down round provision  $2,514   $- 
Reclassification adjustment upon sale of available for sale investment in net loss  $-   $66 

Stock issued for services not yet rendered

  $

26

   $- 

 

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements

 

5
 

 

MGT CAPITAL INVESTMENTS, INC. AND SUBSIDIARIES

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(In thousands, except share and per–share amounts)

 

Note 1. Organization and Basis of Presentation

 

Organization

 

MGT Capital Investments, Inc. (“MGT Capital”) is a Delaware corporation, incorporated in 2000. MGT Capital was originally incorporated in Utah in 1977. “MGT” or the “Company” is comprised of the parent company, wholly–owned subsidiaries MGT Cybersecurity, Inc., Medicsight, Inc., MGT Sports, Inc., MGT Studios, Inc. (“MGT Studios”), MGT Interactive, LLC, MGT Gaming, Inc., MGT Mining One, Inc. and MGT Mining Two, Inc. MGT Studios also owns a controlling minority interest in the subsidiary M2P Americas, Inc. MGT’s corporate office is located in Durham, North Carolina.

 

On March 23, 2018, the Company’s stockholders approved an increase in the Company’s authorized common stock from 75,000,000 shares to 125,000,000 shares. On March 23, 2018, the Company filed an amendment to its Certificate of Incorporation with the state of Delaware to reflect this change.

 

On March 23, 2018, the Company’s stockholders approved a 1-for-2 reverse split of the Company’s common stock, to be effected only if needed for the Company’s application to uplist its common stock to a national exchange. As of May 9, 2018, the Company had not amended its Certificate of Incorporation to reflect this reverse split and such adjustments are not reflected within these unaudited condensed consolidated financial statements.

 

Cryptocurrency mining

 

In September 2016, MGT commenced its Bitcoin mining operations in the Wenatchee Valley area of central Washington. Throughout 2017 the Company expanded its mining capacity with the purchase of additional miners and by entering into hosting and power agreements with Washington facilities owners. The Company also entered into management agreements with third party investors whereby the investors purchased the mining hardware, and the Company will receive both a fee to manage the mining operations plus one-half of the net operating profit.

 

Due to the lack of availability of adequate electric power in Washington to support the Company’s growth, the Company decided to move its principal operations to northern Sweden at the end of 2017. During the first quarter of 2018, the Company took delivery of additional Bitcoin mining machines in Sweden and moved or sold most of its Bitcoin mining machines from Washington. The Company plans to continue growing its mining capacity in Sweden during 2018.

 

As of March 31, 2018, MGT owned and operated approximately 500 miners located in a leased facility in Quincy, Washington and 4,200 miners located in a leased facility in Sweden. In addition, the Company operates about 2,100 miners in the Sweden location pursuant to management agreements. All miners owned or managed by MGT are S9 Antminers sold by Bitmain Technologies LTD. At full deployment expected in May 2018, our total Bitcoin mining capacity, as measured by computational hashing rate, will be approximately 90 petahash per second (“PH/s”). In addition to the S9 Antminers, the Company owns 50 custom designed GPU-based Ethereum mining rigs. During the three months ended March 31, 2018, the Company mined 91.5 Bitcoin for total revenue of $956.

 

Legacy business – cybersecurity

 

On January 26, 2018, the Company announced the end of its business relationship with cybersecurity pioneer John McAfee. Since August 2017, Mr. McAfee had served as Chief Cybersecurity Visionary of the Company, guiding the development of the Company’s cybersecurity business, including Sentinel, an enterprise class network intrusion detector, released in October 2017. The Company also owned the intellectual property associated with developing and marketing a mobile privacy phone with extensive privacy and anti-hacking features.

 

On March 19, 2018, the Company announced it had ended its cybersecurity operations by selling the Sentinel product line to a new entity formed by the unit’s management team and stopping development of the privacy phone. The Sentinel assets were sold for consideration of $60 in cash and a $1,000 promissory note, convertible into a 20% equity interest of the buyer.

 

6
 

 

MGT CAPITAL INVESTMENTS, INC. AND SUBSIDIARIES

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(In thousands, except share and per–share amounts)

 

Note 1. Organization and Basis of Presentation, continued

 

Basis of presentation

 

The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions to Form 10–Q and Rule 10 of Regulation S–X. Accordingly, they do not include all of the information and notes required by accounting principles generally accepted in the United States of America. However, in the opinion of the management of the Company, all adjustments necessary for a fair presentation of the financial position and operating results have been included in these statements. These unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10–K for the fiscal year ended December 31, 2017, as filed with the SEC on April 2, 2018. Operating results for the three months ended March 31, 2018 are not necessarily indicative of the results that may be expected for any subsequent quarters or for the year ending December 31, 2018.

 

Note 2. Going Concern and Management’s Plans

 

The accompanying unaudited condensed consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. As of March 31, 2018, the Company had incurred significant operating losses since inception and continues to generate losses from operations and as of March 31, 2018, has an accumulated deficit of $385,963. At March 31, 2018, MGT’s cash and cash equivalents were $461. At May 8, 2018, MGT’s cash and cash equivalents were $522.

 

Management’s plans include putting into service its additional cryptocurrency mining machines, which were installed during early 2018, but for which the facility needs additional outfitting in order to be fully operational. The Company expects this facility to be fully operational during the second quarter of 2018. If there is a further delay in becoming fully operational, the Company may need to raise additional funding to provide liquidity to fund its operations. Based on current budget assumptions, the Company believes that it will be able to meet its operating expenses and obligations for one year from the date these unaudited condensed consolidated financial statements are issued. There can be no assurance however that the Company will be able to raise additional financing or other additional capital when needed, or at terms that would be considered acceptable to the Company. Such factors raise substantial doubt about the Company’s ability to sustain operations for at least one year from the issuance of these unaudited condensed consolidated financial statements. Management’s plans, including the operation of its existing crypto-currency mining machines, the raising of additional capital and potentially curtailing its operations alleviate such substantial doubt. The accompanying unaudited condensed consolidated financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.

 

Note 3. Summary of Significant Accounting Policies

 

Principles of consolidation

 

The unaudited condensed consolidated financial statements include the accounts of MGT and its wholly owned subsidiaries. All intercompany transactions and balances have been eliminated. Non-controlling interest represents the non-controlling equity investment in MGT subsidiaries, plus the minority investors’ share of the net operating results and other components of equity relating to the non-controlling interest.

 

Reclassification

 

Certain amounts in prior periods have been reclassified to conform to current period presentation. These reclassifications had no effect on the previously reported net loss.

 

7
 

 

MGT CAPITAL INVESTMENTS, INC. AND SUBSIDIARIES

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(In thousands, except share and per–share amounts)

 

Note 3. Summary of Significant Accounting Policies, continued

 

Use of estimates and assumptions and critical accounting estimates and assumptions

 

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities as of the date of the financial statements, and also affect the amounts of revenues and expenses reported for each period. Actual results could differ from those which result from using such estimates. Management utilizes various other estimates, including but not limited to determining the estimated lives of long-lived assets, determining the potential impairment of intangibles, the fair value of warrants issued, the fair value of stock options, the fair value of conversion features, the fair value of the deemed dividend, the recognition of revenue, the valuation allowance for deferred tax assets and other legal claims and contingencies. The results of any changes in accounting estimates are reflected in the financial statements in the period in which the changes become evident. Estimates and assumptions are reviewed periodically and the effects of revisions are reflected in the period that they are determined to be necessary.

 

Revenue recognition

 

The Company recognizes revenue when it is realized or realizable and earned. The Company considers revenue realized or realizable and earned when there is persuasive evidence of an arrangement, delivery has occurred, the sales price is fixed or determinable and collectability is probable. The Company’s primary revenue stream is related to the mining of digital currencies. The Company derives its revenue by solving “blocks” to be added to the blockchain and providing transaction verification services within the digital currency networks of cryptocurrencies, such as Bitcoin and Ethereum, commonly termed “cryptocurrency mining.” In consideration for these services, the Company receives digital currency (“Coins”). The Coins are recorded as revenue, using the average spot price of Bitcoin on the date of receipt. The Coins are recorded on the balance sheet at their fair value and re–measured at each reporting date. Costs of revenues includes equipment depreciation, rent, and electricity costs. Revaluation gains or losses, as well gains or losses on sale of Coins are also recorded cost of revenue in the unaudited condensed consolidated statements of operations.

 

Income taxes

 

The Company accounts for income taxes in accordance with Accounting Standards Codification (“ASC”) 740, “Income Taxes”. ASC 740 requires an asset and liability approach for financial accounting and reporting for income taxes and established for all the entities a minimum threshold for financial statement recognition of the benefit of tax positions, and requires certain expanded disclosures. The provision for income taxes is based upon income or loss after adjustment for those permanent items that are not considered in the determination of taxable income. Deferred income taxes represent the tax effects of differences between the financial reporting and tax basis of the Company’s assets and liabilities at the enacted tax rates in effect for the years in which the differences are expected to reverse. The Company evaluates the recoverability of deferred tax assets and establishes a valuation allowance when it is more likely than not that some portion or all the deferred tax assets will not be realized. Management makes judgments as to the interpretation of the tax laws that might be challenged upon an audit and cause changes to previous estimates of tax liability. In management’s opinion, adequate provisions for income taxes have been made. If actual taxable income by tax jurisdiction varies from estimates, additional allowances or reversals of reserves may be necessary.

 

The Tax Cuts and Jobs Act (the “Tax Act”) was enacted on December 22, 2017. The Tax Act reduces the U.S. federal corporate tax rate from 35% to 21%. As of the completion of these unaudited condensed consolidated financial statements and related disclosures, we have made a reasonable estimate of the effects of the Tax Act. This estimate incorporates assumptions made based upon the Company’s current interpretation of the Tax Act, and may change as the Company may receive additional clarification and implementation guidance and as the interpretation of the Tax Act evolves. In accordance with the Securities and Exchange Commission (the “SEC”) Staff Accounting Bulletin No. 118, the Company will finalize the accounting for the effects of the Tax Act no later than the fourth quarter of 2018. Future adjustments made to the provisional effects will be reported as a component of income tax expense in the reporting period in which any such adjustments are determined. Based on the new tax law that lowers corporate tax rates, the Company revalued its deferred tax assets. Future tax benefits are expected to be lower, with the corresponding one time charge being recorded as a component of income tax expense.

 

The Company is currently delinquent in the filing of its U.S. federal and state income tax returns for the years ended December 31, 2016 and 2015. The Company anticipates filing these returns on or before June 30, 2018.

 

8
 

 

MGT CAPITAL INVESTMENTS, INC. AND SUBSIDIARIES

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(In thousands, except share and per–share amounts)

 

Note 3. Summary of Significant Accounting Policies, continued

 

Loss per share

 

Basic loss per share is calculated by dividing net loss applicable to common shareholders by the weighted average number of common shares outstanding during the period. Diluted loss per share is calculated by dividing the net loss attributable to common shareholders by the sum of the weighted average number of common shares outstanding plus potential dilutive common shares outstanding during the period. Potential dilutive securities, comprised of unvested restricted shares, convertible debt stock warrants and stock options, are not reflected in diluted net loss per share because such potential shares are anti–dilutive due to the Company’s net loss.

 

Accordingly, the computation of diluted loss per share for the three months ended March 31, 2018 excludes 2,000,000 shares issuable to the investors of the December 2017 private placement, 3,250,000 unvested restricted shares, 6,000,000 shares issuable under stock options, and 11,034,642 shares issuable under warrants. The computation of diluted loss per share for the three months ended March 31, 2017 excludes 1,500,000 unvested restricted shares, 6,000,000 shares issuable under options and 5,375,000 shares issuable under warrants, as they are anti–dilutive due to the Company’s net loss.

 

Stock–based compensation

 

The Company recognizes compensation expense for all equity–based payments in accordance with ASC 718 “Compensation – Stock Compensation”. Under fair value recognition provisions, the Company recognizes equity–based compensation net of an estimated forfeiture rate and recognizes compensation cost only for those shares expected to vest over the requisite service period of the award.

 

Restricted stock awards are granted at the discretion of the compensation committee of the board of directors of the Company. These awards are restricted as to the transfer of ownership and generally vest over the requisite service periods, typically over a 12 to 24-month period (vesting on a straight–line basis). The fair value of a stock award is equal to the fair market value of a share of the Company’s common stock on the grant date.

 

The fair value of an option award is estimated on the date of grant using the Black–Scholes option valuation model. The Black–Scholes option valuation model requires the development of assumptions that are inputs into the model. These assumptions are the expected stock volatility, the risk–free interest rate, the expected life of the option, the dividend yield on the underlying stock and the expected forfeiture rate. Expected volatility is calculated based on the historical volatility of the Company’s common stock over the expected term of the option. Risk–free interest rates are calculated based on continuously compounded risk–free rates for the appropriate term.

 

Determining the appropriate fair value model and calculating the fair value of equity–based payment awards requires the input of the subjective assumptions described above. The assumptions used in calculating the fair value of equity–based payment awards represent management’s best estimates, which involve inherent uncertainties and the application of management’s judgment. The Company is required to estimate the expected forfeiture rate and recognize expense only for those shares expected to vest. The fair value of unvested equity instruments is re-measured each reporting period and such re-measured value is amortized over the requisite remaining service period.

 

The Company accounts for share–based payments granted to non–employees in accordance with ASC 505–50, “Equity Based Payments to Non–Employees.” The Company determines the fair value of the stock–based payment as either the fair value of the consideration received or the fair value of the equity instruments issued, whichever is more readily determinable. If the fair value of the equity instruments issued is used, it is measured using the stock price and other measurement assumptions as of the earlier of either (1) the date at which a commitment for performance by the counterparty to earn the equity instruments is reached, or (2) the date at which the counterparty’s performance is complete.

 

9
 

 

MGT CAPITAL INVESTMENTS, INC. AND SUBSIDIARIES

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(In thousands, except share and per–share amounts)

 

Note 3. Summary of Significant Accounting Policies, continued

 

Equity-linked instruments

 

The Company accounts for equity-linked instruments with certain anti-dilution provisions in accordance with ASC 815 and ASC 260. Under this guidance, the Company excludes instruments with certain down round features when determining whether a financial instrument (or embedded conversion feature) is considered indexed to the Company’s own stock. As a result, financial instruments (or embedded conversion features) with down round features are not required to be classified as derivative liabilities. The Company recoognizes the value of a down round feature only when it is triggered and the exercise or conversion price has been adjusted downward. For equity-classified freestanding financial instruments, such as warrants, the Company treats the value of the effect of the down round, when triggered, as a deemed dividend and a reduction of income available to common stockholders in computing basic earnings per share. For convertible instruments with embedded conversion features containing down round provisions, the Company recognizes the value of the down round as a beneficial conversion discount to be amortized to earnings.

 

Recent accounting pronouncements

 

Management does not believe that any recently issued, but not yet effective accounting pronouncements, when adopted, will have a material effect on the accompanying unaudited condensed consolidated financial statements, other than those disclosed in the Company’s Annual Report on Form 10-K, filed with the SEC on April 2, 2018.

 

Management’s Evaluation of Subsequent Events

 

The Company evaluates events that have occurred after the balance sheet date but before the financial statements are issued. Based upon the review, other than what is described in Note 11 – Subsequent Events, the Company did not identify any recognized or non-recognized subsequent events that would have required adjustment or disclosure in the unaudited condensed consolidated financial statements.

 

Note 4. Sale of Cybersecurity assets

 

On March 16, 2018, the Company sold its Sentinel product line to a new entity formed by the unit’s management team for consideration of $60 and a $1,000 promissory note, convertible into a 20% equity interest of the buyer. Due to the early stage nature of the buyer’s business, the Company believes the collection of the promissory note is doubtful and therefore has determined the fair value to be zero. The Company recorded a loss on sale as follows:

 

Cash proceeds  $60 
      
Less:     
Assets sold   (27)
Separation payments to former management   (40)
Common stock issued to former management, at fair value   (120)
      
Loss on sale of cybersecurity assets  $(127)

 

10
 

 

MGT CAPITAL INVESTMENTS, INC. AND SUBSIDIARIES

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(In thousands, except share and per–share amounts)

 

Note 5. Property and Equipment

 

Property and equipment consisted of the following:

 

   As of 
   March 31, 2018   December 31, 2017 
Computer hardware and software  $10   $10 
Crypto-currency mining machines   10,198    3,685 
Property and equipment, gross   10,208    3,695 
Less: Accumulated depreciation   (1,060)   (579)
Property and equipment, net  $9,148   $3,116 

 

The Company recorded depreciation expense of $481 and $99 for the three months ended March 31, 2018 and 2017, respectively.

 

During the three months ended March 31, 2018, the Company sold Bitcoin machines with an aggregate book value of $474 for gross proceeds of $427 and recorded a loss on sale of $47.

 

Note 6. Common Stock and Warrant Issuances

 

Sale of common stock

On March 15, 2018, the Company issued 200,000 shares of common stock to an investor for $80 in gross proceeds.

 

On January 17, 2018, the Company received $281 from the exercise of warrants to purchase 375,000 shares of common stock.

 

During the three months ended March 31, 2018, the Company issued an aggregate of 1,849,250 shares of common stock in exchange for the cashless exercise of warrants to purchase 3,311,100 shares of common stock.

 

During the three months ended March 31, 2018, the Company issued 448,551 shares of its common stock to consultants in exchange for services. These services were valued using the value of the shares issued of $839. During the three months ended March, 31, 2017, the Company did not issue any shares to consultants in exchange for services.

 

On December 7, 2017, a holder of one of the Company’s convertible notes payable converted their note, but requested that the Company not issue the shares due to ownership limitation provisions. During the three months ended March 31, 2018, the ownership limitations were satisfied and the Company issued 3,381,816 shares of its common stock to this former noteholder.

 

11
 

 

MGT CAPITAL INVESTMENTS, INC. AND SUBSIDIARIES

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(In thousands, except share and per–share amounts)

 

Note 6. Common Stock and Warrant Issuances, continued

 

Warrants

 

The following table summarizes information about shares issuable under warrants outstanding at March 31, 2018:

 

   Warrant
shares outstanding
   Weighted
average
exercise price
   Weighted average remaining life   Intrinsic value 
Outstanding at January 1, 2018   13,720,742   $1.49           
Issued   -                
Additional warrants issued for trigger of anti-dilution protection   1,000,000   $0.40           
Exercised   (3,686,100)  $1.09           
Expired or cancelled   -                
Outstanding at March 31, 2018   11,034,642   $0.79    3.04   $6,476 
                     
Exercisable at March 31, 2018   11,034,642   $0.79    3.04   $6,476 

 

During the three months ended March 31, 2018, the Company changed the exercise terms of certain of its warrants to allow for and induce a cashless exercise. During the three months ended March 31, 2018, the Company recorded $139 in warrant modification expense due to the modifications.

 

Deemed Dividend

 

During the three months ended March 31, 2018, an anti-dilution protection feature in certain of the Company’s warrants was triggered, causing a decrease in the exercise price of those warrants from $4.50 to $0.40. In accordance with ASC 260-10-25, the Company has recorded a deemed dividend equal to the change in fair value of the warrants due to the decrease in exercise price in the amount of $2,514.

 

Note 7. Stock–Based Compensation

 

Issuance of restricted common stock – directors, officers and employees

 

During the three months ended March 31, 2018, the Company granted 750,000 shares of restricted common stock to Mr. Robert Lowrey in connection with his employment agreement to serve as the Company’s Chief Financial Officer. The Company valued the award on its grant date and is expensing the grant date fair value over the 24 month vesting period.

 

The Company’s activity in restricted common stock was as follows for the three months ended March 31, 2018:

 

   Number of shares   Weighted average
grant date fair
value
 
Non–vested at January 1, 2018   3,850,000   $1.42 
Granted   750,000   $1.97 
Vested   (1,350,000)  $1.39 
Forfeited         
Non–vested at March 31, 2018   3,250,000   $1.56 

 

For the three months ended March 31, 2018 and 2017, in connection with the vesting of restricted common stock awards, the Company has recorded $1,087 and $338, in employee and director stock–based compensation expense, which is a component of general and administrative expense in the unaudited condensed consolidated statement of operations and comprehensive loss.

 

As of March 31, 2018, unamortized stock-based compensation costs related to restricted share arrangements was $3,892, and will be recognized over a weighted average period of 1.26 years.

 

12
 

 

MGT CAPITAL INVESTMENTS, INC. AND SUBSIDIARIES

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(In thousands, except share and per–share amounts)

 

Note 7. Stock–Based Compensation, continued

 

Stock options

 

The following is a summary of the Company’s stock option activity for the three months ended March 31, 2018:

 

   Options   Weighted
average
exercise price
   Weighted
average Grant date fair value
   Weighted average remaining
life
   Intrinsic value 
Outstanding – January 1, 2018   6,000,000   $0.71   $1.29           
Granted                        
Exercised                        
Forfeited/Cancelled                        
Outstanding – March 31, 2018  6,000,000   $0.71   $1.29    4.38   $3,460 
                          
Exercisable – March 31, 2018  6,000,000   $0.71   $1.29    4.38   $3,460 

 

For the three months ended March 31, 2018 and 2017, the Company has recorded $0 and $962, respectively, in stock option related stock-based compensation expense, which is a component of general and administrative expense in the unaudited condensed consolidated statement of operations and comprehensive loss.

 

As of March 31, 2018, there were no unrecognized compensation costs, as all outstanding stock options are fully vested.

 

Note 8. Commitments and Contingencies

 

Operating Commitments

 

On December 7, 2017 and January 9, 2018, the Company entered into agreements with Beacon Leasing LLC, a Florida limited liability company (“Beacon”) whereby Beacon has agreed to lease their facility in Sweden to the Company for purposes of its mining operations and provide 15 mega watts of uninterrupted power. The agreement is for a term of 24 months for a fee of $810 per month. The Company prepaid the first and last month of service in the amount of $1,620.

 

Management Agreements

 

On October 12, 2017, MGT entered into two management agreements with two accredited investors, Deep South Mining LLC and BDLM, LLC. On November 21, 2017, the Company entered into a third management agreement with another accredited investor, Buckhead Crypto, LLC (“Buckhead Crypto”) (all three accredited investors together are “Users”, each agreement a “Management Agreement”, and all three agreements together are “Management Agreements”). Each of the Users agreed on substantially similar terms to purchase an aggregate of 2,376 Bitmain Antminer S9 mining computers (the “Bitcoin Hardware”) for a total of $3,650 to mine Bitcoin with the Company acting as the exclusive manager for each of the Users. In addition, the Users have agreed to pay to the Company, in advance, the first three months of expected electricity costs of the Bitcoin mining operations in the sum of $691, which is included in Other Payables on the Company’s consolidated balance sheet as of December 31, 2017. Initial electricity cost for the first three months following delivery of the Bitcoin Hardware shall be reimbursed to the Users within the first three months of operation. Each Management Agreement is in effect for 24 months from the date that the Bitcoin Hardware begins mining operations, and may be terminated by mutual written agreement.

 

Pursuant to the Management Agreements, the Company shall provide for installation, hosting, maintenance and repair and provide ancillary services necessary to operate the Bitcoin Hardware. In accordance with each of the Management Agreements, each of the Users will gain a portion of the Bitcoin mined called the User Distribution Portion. The User Distribution Portion is 50% of the amount of Bitcoin mined net of the operating fee (10% of the total Bitcoin mined) and the electricity cost.

 

13
 

 

MGT CAPITAL INVESTMENTS, INC. AND SUBSIDIARIES

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(In thousands, except share and per–share amounts)

 

Note 8. Commitments and Contingencies, continued

 

Management Agreements, continued

 

Furthermore, upon execution of the Management Agreements, as an incentive to the Users, the Company issued to the Users an aggregate of 436,100 shares of the Company’s common stock and a Series F warrant to purchase 436,100 shares of the Company’s common stock at an initial exercise price of $2.00 per share exercisable for a period of three years to the Users. The Company issued the shares of common stock and issued all three Series F warrants for the benefits of the three Users on the respective dates of the execution of the Management Agreements.

 

On February 28, 2018, the Company and Buckhead Crypto terminated their Management Agreement. The Company agreed to purchase the Bitcoin mining machines for $767 and to refund prepaid electricity paid by Buckhead Crypto of $133.

 

On February 13, 2018, the Company entered into a new management agreement with a third party with terms similar to the other Management Agreements. The third party agreed to purchase 200 Bitmain Antminer S9 mining computers for a total of $428 to mine Bitcoin with the Company acting as the exclusive manager. This management agreement is in effect for 24 months from the date that the Bitcoin Hardware begins mining operations, and may be terminated by mutual written agreement.

 

Legal

 

In September 2016, various shareholders in the Company filed putative class action lawsuits against the Company, its president and certain of its individual officers and directors. The cases were filed in the United States District Court for the Southern District of New York (the “Court”) and alleged violations of federal securities laws and seek damages. On April 11, 2017 those cases were consolidated into a single action (the “Securities Action”) and two individual shareholders were appointed lead plaintiffs by the Court. On June 30, 2017, the lead plaintiffs filed an amended complaint.

 

On August 29, 2017, the defendants moved to dismiss the amended complaint, which the plaintiffs opposed on October 13, 2017. On November 3, 2017, the defendants filed a reply brief in further support of their motion to dismiss the amended complaint. The Court heard oral argument on the motion to dismiss on February 7, 2018. On February 28, 2018, the Court entered a judgment dismissing the case in its entirety, with prejudice, and on March 30, 2018, the time expired for plaintiffs to file a notice of appeal of the Court’s judgment.

 

On January 24, 2017, the Company was served with a copy of a summons and complaint filed by plaintiff Atul Ojha in New York state court against certain officers and directors of the Company and the Company as a nominal defendant. The lawsuit is styled as a derivative action (the “Derivative Action”) and was originally filed (but not served on any defendant) on October 15, 2016. The Derivative Action substantively alleges that the defendants, collectively or individually, inadequately managed the business and assets of the Company resulting in the deterioration of the Company’s financial condition. The Derivative Action asserts claims including but not limited to breach of fiduciary duties, unjust enrichment and waste of corporate assets. On February 27, 2017, the parties to the Derivative Action executed a stipulated stay of proceedings pending full or partial resolution of the Securities Action. Shortly after issuance of the February 28, 2018 ruling dismissing the Securities Action, the parties to the Derivative Action agreed to extend the stay indefinitely, with the plaintiff having the option to vacate the stay on thirty days’ notice. Should the plaintiff seek to vacate the stay, the Company will address the Derivative Action.

 

On March 3, 2017 and April 4, 2017 respectively, two additional actions were filed against the Company by a former shareholder Barry Honig (“Honig”). The first action was filed in federal court in North Carolina (the “North Carolina Action”) against the Company and its president and alleges claims for libel, slander, conspiracy, interference with prospective economic advantage, and unfair trade practices. The North Carolina Action substantively alleges that the defendants defamed Honig by causing or allowing certain statements to be published about Honig in news blogs and articles authored by a journalist, who is also a defendant in the case. On June 5, 2017, the Company filed a motion to dismiss the lawsuit, and on July 17, 2017 the plaintiff filed on opposition brief to the motion to dismiss. The Company filed its reply on August 18, 2017. On August 24, 2017, the court in North Carolina Action issued an order granting in part and denying in part the motion to dismiss. On January 3, 2018, the parties signed a settlement stipulation in which the North Carolina Action was withdrawn with prejudice. The court in the North Carolina Action thereafter dismissed the case on January 18, 2018.

 

14
 

 

MGT CAPITAL INVESTMENTS, INC. AND SUBSIDIARIES

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(In thousands, except share and per–share amounts)

 

Note 8. Commitments and Contingencies, continued

 

Legal, continued

 

The second action was brought by Honig and others in the Court (the “Breach of Contract Action”) against the Company and certain of its officers and directors. The Breach of Contract Action alleges claims for breach of contract, tortious interference with contractual relations, and unjust enrichment related to the Company’s unsuccessful attempt to acquire D–Vasive, Inc. (“D-Vasive”) and Demonsaw LLC (“Demonsaw”) in 2016 and the alleged resulting harm to certain D–Vasive, and Demonsaw LLC noteholders. The defendants filed a motion to dismiss on June 5, 2017, but after the plaintiffs filed an amended complaint on June 26, 2017, the defendants filed a motion to dismiss that complaint on July 24, 2017. On March 19, 2018, the Court issued a Memorandum Opinion & Order dismissing the breach of contract and tortious interference claims, but permitting the unjust enrichment claim to proceed. On April 2, 2018, the defendants filed a motion asking the Court to reconsider its decision to permit the unjust enrichment claim to proceed. On April 16, 2018, the plaintiffs filed their opposition to that motion, and on April 23, the defendants filed their reply. Additionally, on April 30, the Court issued a civil case management plan and scheduling order setting deadlines for discovery in the action. Should the reconsideration motion be denied, the Company and its officers and directors believe that they have meritorious defenses against the remaining claim and intend to defend that claim vigorously.

 

The Company believes that there is little merit to each of the above actions and has no indication or reason to believe that it is or will be liable for any alleged wrongdoing. The Company is consulting with its counsel to determine the appropriate legal strategy but intends to defend against the remaining actions vigorously. The Company cannot presently rule out that adverse developments in one or more of the above actions could have a materially adverse effect on the Company, its financial position or future results of operations, and has notified its director’s and officer’s liability insurance carrier.

 

Note 9. Related Party Transactions

 

Janice Dyson, wife of John McAfee, the Company’s former Chief Cybersecurity Visionary, is the sole director of Future Tense Secure Systems, Inc. (“FTS”) and owns 33% of the outstanding common shares of FTS.

 

On May 9, 2016, the Company entered a consulting agreement with FTS, pursuant to which FTS would provide advice, consultation, information and services to the Company including assistance with executive management, business and product development and potential acquisitions or related transactions. On January 26, 2018, the Company terminated its agreement with FTS. During the three months ended March 31, 2018 and 2017, the Company recorded consulting fees of $137 and $200, respectively, to FTS for such services. As of March 31, 2018, the Company owed $0 to FTS.

 

Note 10. Employee Benefit Plans

 

The Company maintains defined contribution benefit plans under Section 401(k) of the Internal Revenue Code covering substantially all qualified employees of the Company (the “401(k) Plan”). Under the 401(k) Plan, the Company may make discretionary contributions of up to 100% of employee contributions. During the three months ended March 31, 2018 and 2017, the Company made contributions to the 401(k) Plan of $18 and $2, respectively.

 

Note 11. Subsequent Events

 

The Company has evaluated the impacts of subsequent events through May 9, 2018, and has determined that no such events occurred that were required to be reflected in the consolidated financial statements, except as described within the above notes and described below.

 

Shares Issued to Consultants

 

Subsequent to March 31, 2018 through May 9, 2018, the Company issued 223,000 shares of its common stock to consultants in exchange for services.

 

15
 

 

MGT CAPITAL INVESTMENTS, INC. AND SUBSIDIARIES

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(In thousands, except share and per–share amounts)

 

Note 11. Subsequent Events, continued

 

Shares Issued to Employees and Directors

 

On April 6, 2018, the Company issued 1,050,000 of its restricted common stock to certain executive employees and directors in connection with the commencement of its Bitcoin operation in Sweden. The shares were valued at $1,302 on date of grant and such value will recognized as non-cash compensation over the twelve-month vesting period.

 

Employment Agreement

 

On April 1, 2018, the Company entered into an Amended and Restated Executive Employment Agreement (the “Employment Agreement”) with Mr. Robert Ladd, which was executed on April 6, 2018. The Employment Agreement provides that Mr. Ladd has been reappointed for an initial term of two years. Mr. Ladd is entitled to receive an annualized base salary of $360,000 and is also eligible for a cash and/or equity bonus as the Compensation Committee may determine, from time to time, based on meeting performance objectives and bonus criteria to be mutually identified by Mr. Ladd and the Compensation Committee. In connection with the execution of the Employment Agreement, the Company issued to Mr. Ladd 600,000 shares of the Company’s restricted common stock, pursuant to the Company’s 2016 Stock Option Plan, vesting over a two-year period.

 

Warrant Exercise

 

On April 16, 2018, the Company issued 1,000,000 shares of its common stock in exchange for the cashless exercise of warrants.

 

On April 30, 2018, the Company received $313 in proceeds from the exercise of a warrant to purchase 625,000 shares of the Company’s common stock.

 

On May 2, 2018, the Company received $313 in proceeds from the exercise of a warrant to purchase 625,000 shares of the Company’s common stock.

 

16
 

 

Item 2. Management’s discussion and analysis of financial condition and results of operations

 

This Quarterly Report on Form 10–Q contains forward–looking statements that involve risks and uncertainties, as well as assumptions that, if they never materialize or prove incorrect, could cause our results to differ materially from those expressed or implied by such forward–looking statements. The statements contained herein that are not purely historical are forward–looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Forward–looking statements are often identified by the use of words such as, but not limited to, “anticipate,” “estimates,” “should,” “expect,” “guidance,” “project,” “intend,” “plan,” “believe” and similar expressions or variations intended to identify forward–looking statements. These statements are based on the beliefs and assumptions of our management based on information currently available to management. Such forward–looking statements are subject to risks, uncertainties and other important factors that could cause actual results and the timing of certain events to differ materially from future results expressed or implied by such forward–looking statements. Factors that could cause or contribute to such differences include, but are not limited to, those identified below, and those discussed in the section titled “Risk Factors” included in our Annual Report on Form 10–K filed with the Securities and Exchange Commission (“SEC”) on April 2, 2018, in addition to other public reports we filed with the SEC. The forward–looking statements set forth herein speak only as of the date of this report. Except as required by law, we undertake no obligation to update any forward–looking statements to reflect events or circumstances after the date of such statements.

 

Executive summary

 

MGT Capital Investments, Inc. (“MGT”, “the Company”, “we”, or “us”) is a Delaware corporation, incorporated in 2000. The Company was originally incorporated in Utah in 1977. MGT is comprised of the parent company, wholly–owned subsidiaries MGT Cybersecurity, Inc. Medicsight, Inc., MGT Sports, Inc., MGT Studios, Inc. (“MGT Studios”), MGT Interactive, LLC, MGT Gaming, Inc., and MGT Mining One, Inc. and MGT Mining Two, Inc. MGT Studios also owns a controlling minority interest in the subsidiary M2P Americas, Inc. Our corporate office is located in Durham, North Carolina.

 

All figures set forth in this Quarterly Report on this Form 10-Q are in thousands, except share and per-share amounts.

 

In September 2016, we commenced our Bitcoin mining operations in the Wenatchee Valley area of central Washington. Throughout 2017 we expanded our mining capacity with the purchase of additional miners and by entering into hosting and power agreements with Washington facilities owners. We also entered into management agreements with third party investors whereby the investors purchased the mining hardware, and the Company will receive both a fee to manage the mining operations plus one-half of the net operating profit. During the three months ended March 31, 2018, we mined 91.5 Bitcoin for total revenue of $956.

 

Due to the lack of availability of adequate electric power in Washington to support our growth, we decided to move our principal operations to northern Sweden at the end of 2017. During the first quarter of 2018, we took delivery of additional Bitcoin mining machines in Sweden and moved or sold most of our Bitcoin mining machines from Washington. We plan to continue growing our mining capacity in Sweden during 2018.

 

At May 9, 2018, we owned and operated approximately 500 miners located in a leased facility in Quincy, WA and 4,200 miners located in a leased facility in Sweden. In addition, we operate about 2,100 miners in the Sweden location pursuant to management agreements. All miners owned or managed by us are S9 Antminers sold by Bitmain Technologies LTD. At full deployment expected in May 2018, our total Bitcoin mining capacity, as measured by computational hashing rate, will be approximately 90 peta-hash per second (“PH/s”). In addition to the S9 Antminers, the Company owns 50 custom designed GPU-based Ethereum mining rigs.

 

17
 

 

Critical accounting policies and estimates

 

Our discussion and analysis of financial condition and results of operations are based upon our consolidated financial statements, which have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The notes to the consolidated financial statements contained in this Quarterly Report describe our significant accounting policies used in the preparation of the consolidated financial statements. The preparation of these financial statements requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates. We continually evaluate our critical accounting policies and estimates.

 

We believe the critical accounting policies listed below reflect significant judgments, estimates and assumptions used in the preparation of our consolidated financial statements.

 

Revenue recognition

 

The Company recognizes revenue when it is realized or realizable and earned. The Company considers revenue realized or realizable and earned when there is persuasive evidence of an arrangement, delivery has occurred, the sales price is fixed or determinable and collectability is probable. The Company’s primary revenue stream is related to the mining of digital currencies. The Company derives its revenue by solving “blocks” to be added to the blockchain and providing transaction verification services within the digital currency networks of cryptocurrencies, such as Bitcoin and Ethereum, commonly termed “cryptocurrency mining.” In consideration for these services, the Company receives digital currency (“Coins”). The Coins are recorded as revenue, using the average spot price of Bitcoin on the date of receipt. The Coins are recorded on the balance sheet at their fair value and re–measured at each reporting date. Costs of revenues includes equipment depreciation, rent, and electricity costs. Revaluation gains or losses, as well gains or losses on sale of Coins are also recorded as a part of cost of revenue in the unaudited condensed consolidated statements of operations.

 

Stock–based compensation

 

The Company recognizes compensation expense for all equity–based payments in accordance with Accounting Standards Codification (“ASC”) 718 “Compensation – Stock Compensation”. Under fair value recognition provisions, the Company recognizes equity–based compensation net of an estimated forfeiture rate and recognizes compensation cost only for those shares expected to vest over the requisite service period of the award.

 

Restricted stock awards are granted at the discretion of the compensation committee of the board of directors of the Company. These awards are restricted as to the transfer of ownership and generally vest over the requisite service periods, typically over a 12 to 24 month period (vesting on a straight–line basis). The fair value of a stock award is equal to the fair market value of a share of the Company’s Common Stock on the grant date.

 

The fair value of an option award is estimated on the date of grant using the Black–Scholes option valuation model. The Black–Scholes option valuation model requires the development of assumptions that are inputs into the model. These assumptions are the expected stock volatility, the risk–free interest rate, the expected life of the option, the dividend yield on the underlying stock and the expected forfeiture rate. Expected volatility is calculated based on the historical volatility of the Company’s Common Stock over the expected term of the option. Risk–free interest rates are calculated based on continuously compounded risk–free rates for the appropriate term.

 

Determining the appropriate fair value model and calculating the fair value of equity–based payment awards requires the input of the subjective assumptions described above. The assumptions used in calculating the fair value of equity–based payment awards represent management’s best estimates, which involve inherent uncertainties and the application of management’s judgment. The Company is required to estimate the expected forfeiture rate and recognize expense only for those shares expected to vest.

 

The Company accounts for share–based payments granted to non–employees in accordance with ASC 505–50, “Equity Based Payments to Non–Employees”. The Company determines the fair value of the stock–based payment as either the fair value of the consideration received or the fair value of the equity instruments issued, whichever is more readily determinable. If the fair value of the equity instruments issued is used, it is measured using the stock price and other measurement assumptions as of the earlier of either (1) the date at which a commitment for performance by the counterparty to earn the equity instruments is reached, or (2) the date at which the counterparty’s performance is complete. The fair value of unvested equity instruments is re–measured each reporting period and such re-measured value is amortized over the requisite remaining service period.

 

18
 

 

Results of operations

 

Three Months Ended March 31, 2018 and 2017

 

Revenues

 

Our revenues for the three months ended March 31, 2018 increased by $644, or 206%, to $956 as compared to $312 for the three months ended March 31, 2017. Our revenue is derived from cryptocurrency mining, which commenced in September 2016. The significant increase in revenues is a result of our increased mining capacity through the acquisition of additional machines during the year ended December 31, 2017 and during the first quarter of 2018.

 

Operating Expenses

 

Operating expenses for the three months ended March 31, 2018 increased by $1,935, or 59%, to $5,192 as compared to $3,257 for the three months ended March 31, 2017. The increase in operating expenses was primarily due to a $680 increase in cost of revenues from the increase in cryptocurrency mining operations, of which $286 is depreciation expense, a $928 increase in stock-based compensation and an increase of $530 in payroll and related expenses.

 

Other Income and Expense

 

For the three months ended March 31, 2018, non–operating expenses primarily consisted of warrant modification expense of $139, loss on the sale of cybersecurity assets of $127 and a loss on sale of property and equipment of $47. During the comparable period ended March 31, 2017, non–operating expenses mainly consisted of an impairment charge/loss on sale of investments of $2,871.

 

Liquidity and Capital Resources

 

Sources of Liquidity

 

We have historically financed our business through the sale of debt and equity interests. As of March 31, 2018, we have incurred significant operating losses since inception and continue to generate losses from operations and as of March 31, 2018 have an accumulated deficit of $385,963. At March 31, 2018, our cash and cash equivalents were $461 and our working capital was $722. As of March 31, 2018, we had no debt outstanding. As of May 8, 2018, our cash and cash equivalents were $522.

 

Management’s plans include putting into service its additional cryptocurrency mining machines, which were delivered and installed during early 2018. Additional construction and other improvements are underway, and we expect this facility to be fully operational early in the second quarter of 2018. If there is a further delay in becoming fully operational, we may need to raise additional funding in order to provide liquidity to fund our operations. Based on current budget assumptions we believe that we will be able to meet our operating expenses and obligations for one year from the date these consolidated financial statements are issued. There can be no assurance however that we will be able to raise additional financing or other additional capital when needed, or at terms that would be considered acceptable to us. Such factors raise substantial doubt about our ability to sustain operations for at least one year from the issuance of these consolidated financial statements. Management’s plans, including the operation of its existing cryptocurrency mining machines, the raising of additional capital and potentially curtailing our operations alleviate such substantial doubt. The consolidated financial statements do not include any adjustments related to the recoverability and classification of asset amounts or the classification of liabilities that might be necessary should the Company be unable to continue as a going concern.

 

The price of Bitcoin is volatile, and fluctuations are expected. Declines in the price of Bitcoin would have negative impact in our operating results, liquidity and would harm the price of our common stock. Movements may be influenced by various factors, including, but not limited to, government regulation, security breaches experienced by service providers, as well as political and economic uncertainties around the world. Since we record revenue based on the price of earned Bitcoin and we may retain such Bitcoin as an asset or as payment for future expenses, the relative value of such revenues may fluctuate, as will the value of any Bitcoin we retain. The high and low exchange rate per Bitcoin for the three months ending March 31, 2018, as reported by Blockchain.info, were approximately $7 and $17 respectively.

 

19
 

 

   Three Months ended March 31, 
   2018   2017 
Cash (used in) / provided by          
Operating activities  $(2,919)  $(1,180)
Investing activities   (6,500)   26 
Financing activities   361    1,143 
Net increase (decrease) in cash and cash equivalents  $(9,058)  $(11)

 

Cash Flows

 

Operating activities

 

Net cash used in operating activities was $2,919 for the three months ended March 31, 2018 as compared to $1,180 for the three months ended March 31, 2017. Cash used in operating activities for the three months ended March 31, 2018 primarily consisted of a net loss of $4,549 partially offset by non-cash stock-based compensation of $2,227, and depreciation expense of $481, less a decrease in working capital of $1,391. Cash used in operating activities for the three months ended March 31, 2017 primarily consisted of a net loss of $5,891, partially offset by stock-based compensation of $1,299 and impairment/loss on sale of long-term investments of $2,871, plus an increase in working capital of $364.

 

Investing activities

 

Net cash used in investing activities was $6,500 for the three months ended March 31, 2018 as compared to net cash provided by investing activities of $26 for the three months ended March 31, 2017. Net cash used in investing activities for the three months ended March 31, 2018 was primarily due to our purchases of property and equipment of $6,987 partially offset by proceeds from the sale of property and equipment of $427 and proceeds from the sale of our cybersecurity assets of $60. During the three months ended March 31, 2017, the Company realized $26 in net proceeds from sales of various investments in the open market.

 

Financing activities

 

During three months ended March 31, 2018, cash provided by financing activities totaled $361, comprised of $80 from private placements of our Common Stock and $281 from the exercise of stock purchase warrants. During three months ended March 31, 2017, cash provided by financing activities totaled $1,143, comprised of $493 in net proceeds from convertible debt instruments, and $650 from the proceeds of a private placement of common stock.

 

Off–balance sheet arrangements

 

As of March 31, 2018 we had no obligations, assets or liabilities which would be considered off–balance sheet arrangements. We do not participate in transactions that create relationships with unconsolidated entities or financial partnerships, often referred to as variable interest entities, which would have been established for the purpose of facilitating off–balance sheet arrangements.

 

Item 3. Quantitative and Qualitative Disclosure About Market Risk

 

The Company is not exposed to market risk related to interest rates on foreign currencies.

 

Item 4. Controls and procedures

 

Evaluation of Disclosure Controls and Procedures

 

We maintain disclosure controls and procedures designed to ensure that the information we are required to disclose in reports that we file or submit under the Exchange Act is recorded, processed, summarized and reported within the time periods specified under the rules and forms of the SEC. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that such information is accumulated and communicated to our management, including our Chief Executive Officer and our Chief Financial Officer, as appropriate to allow timely decisions regarding required disclosures. As required by paragraph (b) of Rules 13a-15 and 15d-15 under the Exchange Act, our Chief Executive Officer (our principal executive) and Chief Financial Officer (our principal financial officer and principal accounting officer) carried out an evaluation of the effectiveness of the design and operation of our disclosure controls and procedures as of March 31, 2018. Based on this evaluation, our Chief Executive Officer and Chief Financial Officer concluded that our disclosure controls and procedures (as defined in paragraph (e) of Rules 13a-15 and 15d-15 under the Exchange Act) were not effective as March 31, 2018 due to a material weakness in our internal control over financial reporting as described below.

 

20
 

 

Limitations on Internal Control over Financial Reporting

 

An internal control system over financial reporting has inherent limitations and may not prevent or detect misstatements. Therefore, even those systems determined to be effective can provide only reasonable assurance with respect to financial statement preparation and presentation. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate. However, these inherent limitations are known features of the financial reporting process. Therefore, it is possible to design into the process safeguards to reduce, though not eliminate, this risk.

 

Management’s Quarterly Report on Internal Control over Financial Reporting

 

Our management is responsible for establishing and maintaining adequate internal control over financial reporting, as defined in Exchange Act Rule 13a-15(f) and 15d-15(f). Internal control over financial reporting is a process used to provide reasonable assurance regarding the reliability of our financial reporting and the preparation of our financial statements for external purposes in accordance with generally accepted accounting principles in the United States. Internal control over financial reporting includes policies and procedures that pertain to the maintenance of records that in reasonable detail accurately and fairly reflect the transactions and dispositions of our assets; provide reasonable assurance that transactions are recorded as necessary to permit preparation of our financial statements in accordance with generally accepted accounting principles in the United States, and that our receipts and expenditures are being made only in accordance with the authorization of our board of directors and management; and provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of our assets that could have a material effect on our financial statements.

 

Under the supervision and with the participation of our management, including our Chief Executive Officer (our principal executive) and Chief Financial Officer (our principal financial officer and principal accounting officer), we performed a complete documentation of the Company’s significant processes and key controls, and conducted an evaluation of the effectiveness of our internal control over financial reporting based on the framework in Internal Control—Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission in 2013. Based on this evaluation, management concluded that our internal control over financial reporting was not effective as of March 31, 2018 due to the material weaknesses described below.

 

A material weakness is defined within the Public Company Accounting Oversight Board’s Auditing Standard No. 5 as a deficiency or a combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of the Company’s annual or interim financial statements will not be prevented or detected on a timely basis. We determined that our internal control of financial reporting had the following material weakness:

 

    Due to the small size of the Company, the Company does not maintain sufficient segregation of duties to ensure the processing, review and authorization of all transactions including non-routine transactions.
    Our processes lacked timely and complete reviews and analysis of information used to prepare our financial statements and disclosures in accordance with accounting principles generally accepted in the United States of America.

 

The Company is evaluating these weakness to determine the appropriate remedy. Because disclosure controls and procedures include those components of internal control over financial reporting that provide reasonable assurances that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, management also determined that its disclosure controls and procedures were not effective as a result of the foregoing material weaknesses in its internal control over financial reporting.

 

Changes in Internal Control over Financial Reporting

 

On March 1, 2018, we hired Mr. Robert Lowrey as our Chief Financial Officer.

 

21
 

 


PART II. OTHER INFORMATION

 

Item 1. Legal proceedings

 

In September 2016, various shareholders in the Company filed putative class action lawsuits against the Company, its president and certain of its individual officers and directors. The cases were filed in the United States District Court for the Southern District of New York (the “Court”) and alleged violations of federal securities laws and seek damages. On April 11, 2017 those cases were consolidated into a single action (the “Securities Action”) and two individual shareholders were appointed lead plaintiffs by the Court. On June 30, 2017, the lead plaintiffs filed an amended complaint.

 

On August 29, 2017, the defendants moved to dismiss the amended complaint, which the plaintiffs opposed on October 13, 2017. On November 3, 2017, the defendants filed a reply brief in further support of their motion to dismiss the amended complaint. The Court heard oral argument on the motion to dismiss on February 7, 2018. On February 28, 2018, the Court entered a judgment dismissing the case in its entirety, with prejudice, and on March 30, 2018, the time expired for plaintiffs to file a notice of appeal of the Court’s judgment.

 

On January 24, 2017, the Company was served with a copy of a summons and complaint filed by plaintiff Atul Ojha in New York state court against certain officers and directors of the Company and the Company as a nominal defendant. The lawsuit is styled as a derivative action (the “Derivative Action”) and was originally filed (but not served on any defendant) on October 15, 2016. The Derivative Action substantively alleges that the defendants, collectively or individually, inadequately managed the business and assets of the Company resulting in the deterioration of the Company’s financial condition. The Derivative Action asserts claims including but not limited to breach of fiduciary duties, unjust enrichment and waste of corporate assets. On February 27, 2017, the parties to the Derivative Action executed a stipulated stay of proceedings pending full or partial resolution of the Securities Action. Shortly after issuance of the February 28, 2018 ruling dismissing the Securities Action, the parties to the Derivative Action agreed to extend the stay indefinitely, with the plaintiff having the option to vacate the stay on thirty days’ notice. Should the plaintiff seek to vacate the stay, the Company will address the Derivative Action.

 

On March 3, 2017 and April 4, 2017 respectively, two additional actions were filed against the Company by a former shareholder Barry Honig (“Honig”). The first action was filed in federal court in North Carolina (the “North Carolina Action”) against the Company and its president and alleges claims for libel, slander, conspiracy, interference with prospective economic advantage, and unfair trade practices. The North Carolina Action substantively alleges that the defendants defamed Honig by causing or allowing certain statements to be published about Honig in news blogs and articles authored by a journalist, who is also a defendant in the case. On June 5, 2017, the Company filed a motion to dismiss the lawsuit, and on July 17, 2017 the plaintiff filed on opposition brief to the motion to dismiss. The Company filed its reply on August 18, 2017. On August 24, 2017, the court in North Carolina Action issued an order granting in part and denying in part the motion to dismiss. On January 3, 2018, the parties signed a settlement stipulation in which the North Carolina Action was withdrawn with prejudice. The court in the North Carolina Action thereafter dismissed the case on January 18, 2018.

 

The second action was brought by Honig and others in the Court (the “Breach of Contract Action”) against the Company and certain of its officers and directors. The Breach of Contract Action alleges claims for breach of contract, tortious interference with contractual relations, and unjust enrichment related to the Company’s unsuccessful attempt to acquire D–Vasive, Inc. (“D-Vasive”) and Demonsaw LLC (“Demonsaw”) in 2016 and the alleged resulting harm to certain D–Vasive and Demonsaw noteholders. The defendants filed a motion to dismiss on June 5, 2017, but after the plaintiffs filed an amended complaint on June 26, 2017, the defendants filed a motion to dismiss that complaint on July 24, 2017. On March 19, 2018, the Court issued a Memorandum Opinion & Order dismissing the breach of contract and tortious interference claims, but permitting the unjust enrichment claim to proceed. On April 2, 2018, the defendants filed a motion asking the Court to reconsider its decision to permit the unjust enrichment claim to proceed. On April 16, 2018, the plaintiffs filed their opposition to that motion, and on April 23, the defendants filed their reply. Additionally, on April 30, the Court issued a civil case management plan and scheduling order setting deadlines for discovery in the action. Should the reconsideration motion be denied, the Company and its officers and directors believe that they have meritorious defenses against the remaining claim and intend to defend that claim vigorously.

 

The Company believes that there is little merit to each of the above actions and has no indication or reason to believe that it is or will be liable for any alleged wrongdoing. The Company is consulting with its counsel to determine the appropriate legal strategy but intends to defend against the remaining actions vigorously. The Company cannot presently rule out that adverse developments in one or more of the above actions could have a materially adverse effect on the Company, its financial position or future results of operations, and has notified its director’s and officer’s liability insurance carrier.

 

22
 

 

Item 1A. Risk factors

 

There are no additional risk factors other than those discussed in our Annual Report Form 10–K filed on April 2, 2018.

 

Item 2. Unregistered sales of equity securities and use of proceeds

 

On March 15, 2018, the Company sold 200,000 shares of its common stock to an investor for proceeds of $80.

 

Item 3. Defaults upon senior securities

 

None.

 

Item 4. Mine safety disclosures

 

Not applicable.

 

Item 5. Other information

 

None.

 

Item 6. Exhibits

 

  31.1 Certification pursuant to Section 302 of the Sarbanes–Oxley Act of 2002 of Principal Executive Officer*
  31.2 Certification pursuant to Section 302 of the Sarbanes–Oxley Act of 2002 of Principal Financial and Accounting Officer*
  32 Certification pursuant to Section 906 of the Sarbanes–Oxley Act of 2002 of Principal Executive Officer and Principal Financial and Accounting Officer*
  101.INS XBRL Instance Document*
  101.SCH XBRL Taxonomy Extension Schema*
  101.CAL XBRL Taxonomy Extension Calculation Linkbase Document*
  101.DEF XBRL Taxonomy Extension Definition Linkbase Document*
  101.LAB XBRL Taxonomy Extension Labels Linkbase Document*
  101.PRE XBRL Taxonomy Extension Presentation Linkbase Document*
     
  * Filed herewith

 

23
 

 

SIGNATURES

 

In accordance with the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

  MGT CAPITAL INVESTMENTS, INC
     
Date: May 9, 2018 By: /s/ Robert B. Ladd
    Robert B. Ladd
    President and Chief Executive Officer
    (Principal Executive Officer)

 

24
 

EX-31.1 2 ex31-1.htm

 

Exhibit 31.1

 

CERTIFICATION PURSUANT TO SARBANES–OXLEY ACT OF 2002

 

I, Robert Ladd, certify that:

 

1. I have reviewed this quarterly report on Form 10–Q of MGT Capital Investments, Inc.;

 

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

 

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

 

4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a–15(e) and 15d–15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a–15(f) and 15d–15(f)) for the registrant and have:

 

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

 

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

 

(c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

 

(d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

 

5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

 

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

 

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

 

Date: May 9, 2018 By: /s/ Robert B. Ladd
    Robert B. Ladd
    President and Chief Executive Officer
    (Principal Executive Officer)

 

 
 

EX-31.2 3 ex31-2.htm

 

Exhibit 31.2

 

CERTIFICATION PURSUANT TO SARBANES–OXLEY ACT OF 2002

 

I, Robert S. Lowrey, certify that:

 

1. I have reviewed this quarterly report on Form 10–Q of MGT Capital Investments, Inc.;

 

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

 

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

 

4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a–15(e) and 15d–15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a–15(f) and 15d–15(f)) for the registrant and have:

 

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

 

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

 

(c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

 

(d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

 

5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

 

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

 

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

 

Date: May 9, 2018 By: /s/ Robert S. Lowrey
    Robert S. Lowrey
    Chief Financial Officer
    (Principal Financial and Accounting Officer)

 

 
 

EX-32 4 ex-32.htm

 

Exhibit 32

 

CERTIFICATION PURSUANT TO SECTION 906
OF THE SARBANES–OXLEY ACT OF 2002

 

In connection with the Quarterly Report of MGT Capital Investments, Inc. (the “Company”) on Form 10-Q for the quarter ended March 31, 2018 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), each of the undersigned, in the capacities and on the dates indicated below, hereby certifies pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

 

  1. the Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934 (15 U.S.C. 78m or 78o(d)); and
     
  2. the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

 

Date: May 9, 2018 By: /s/ Robert B. Ladd
    Robert B. Ladd
    President and Chief Executive Officer
    (Principal Executive Officer)

 

Date: May 9, 2018 By: /s/ Robert S. Lowrey
    Robert S. Lowrey
    Chief Financial Officer
    (Principal Financial and Accounting Officer)

 

 
 

EX-101.INS 5 mgti-20180331.xml XBRL INSTANCE FILE 0001001601 2017-12-31 0001001601 MGTI:UndesignatedPreferredStockMember 2017-12-31 0001001601 MGTI:SeriesAConvertiblePreferredStockMember 2017-12-31 0001001601 2018-01-01 2018-03-31 0001001601 us-gaap:WarrantMember 2018-01-01 2018-03-31 0001001601 us-gaap:WarrantMember 2017-12-31 0001001601 2016-12-31 0001001601 2018-03-31 0001001601 MGTI:UnvestedRestrictedStockMember 2018-01-01 2018-03-31 0001001601 us-gaap:WarrantMember 2017-01-01 2017-03-31 0001001601 MGTI:UnvestedRestrictedStockMember 2017-01-01 2017-03-31 0001001601 us-gaap:StockOptionMember 2018-01-01 2018-03-31 0001001601 us-gaap:StockOptionMember 2017-12-31 0001001601 MGTI:OptionsMember 2018-01-01 2018-03-31 0001001601 us-gaap:RestrictedStockMember 2018-01-01 2018-03-31 0001001601 MGTI:EmployeeAndDirectorMember us-gaap:SellingGeneralAndAdministrativeExpensesMember 2018-01-01 2018-03-31 0001001601 us-gaap:StockOptionMember us-gaap:SellingGeneralAndAdministrativeExpensesMember 2018-01-01 2018-03-31 0001001601 us-gaap:StockOptionMember us-gaap:SellingGeneralAndAdministrativeExpensesMember 2017-01-01 2017-03-31 0001001601 MGTI:DecemberTwothousandSevenTeenPrivatePlacementMember 2018-01-01 2018-03-31 0001001601 MGTI:BitcoinMachinesMember 2018-01-01 2018-03-31 0001001601 MGTI:FTSMember 2018-01-01 2018-03-31 0001001601 MGTI:FTSMember 2017-01-01 2017-03-31 0001001601 MGTI:FTSMember 2018-03-31 0001001601 us-gaap:CommonStockMember 2017-12-31 0001001601 us-gaap:AdditionalPaidInCapitalMember 2017-12-31 0001001601 us-gaap:RetainedEarningsMember 2017-12-31 0001001601 us-gaap:ShareholdersEquityMember 2017-12-31 0001001601 us-gaap:NoncontrollingInterestMember 2017-12-31 0001001601 us-gaap:MinimumMember 2018-03-23 0001001601 us-gaap:MaximumMember 2018-03-23 0001001601 2018-03-21 2018-03-23 0001001601 2018-03-18 2018-03-19 0001001601 MGTI:PromissoryNoteMember 2018-03-18 2018-03-19 0001001601 2017-12-21 2017-12-22 0001001601 MGTI:BitcoinMachinesMember 2018-03-31 0001001601 MGTI:TwoManagementAgreementsMember 2017-10-11 2017-10-12 0001001601 MGTI:TwoManagementAgreementsMember 2017-10-12 0001001601 MGTI:FourHundredOneKPlanMember us-gaap:MaximumMember 2018-01-01 2018-03-31 0001001601 MGTI:FourHundredOneKPlanMember 2018-01-01 2018-03-31 0001001601 MGTI:FourHundredOneKPlanMember 2017-01-01 2017-03-31 0001001601 MGTI:EmployeeAndDirectorMember us-gaap:SellingGeneralAndAdministrativeExpensesMember 2017-01-01 2017-03-31 0001001601 MGTI:QuincyMember 2018-01-01 2018-03-31 0001001601 MGTI:MayEightTwoThousandAndEighteenMember 2018-03-31 0001001601 MGTI:OptionsMember 2017-01-01 2017-03-31 0001001601 us-gaap:SubsequentEventMember MGTI:ConsultantsMember 2018-04-02 2018-05-09 0001001601 MGTI:SeriesAConvertiblePreferredStockMember 2018-03-31 0001001601 MGTI:UndesignatedPreferredStockMember 2018-03-31 0001001601 2017-01-01 2017-03-31 0001001601 us-gaap:CommonStockMember 2018-01-01 2018-03-31 0001001601 us-gaap:CommonStockMember 2018-03-31 0001001601 us-gaap:AdditionalPaidInCapitalMember 2018-01-01 2018-03-31 0001001601 us-gaap:AdditionalPaidInCapitalMember 2018-03-31 0001001601 us-gaap:RetainedEarningsMember 2018-01-01 2018-03-31 0001001601 us-gaap:RetainedEarningsMember 2018-03-31 0001001601 us-gaap:ShareholdersEquityMember 2018-01-01 2018-03-31 0001001601 us-gaap:ShareholdersEquityMember 2018-03-31 0001001601 us-gaap:NoncontrollingInterestMember 2018-01-01 2018-03-31 0001001601 us-gaap:NoncontrollingInterestMember 2018-03-31 0001001601 2017-03-31 0001001601 us-gaap:InvestorMember 2018-03-14 2018-03-15 0001001601 2018-01-16 2018-01-17 0001001601 2018-01-17 0001001601 MGTI:FormerNoteholderMember 2018-01-01 2018-03-31 0001001601 us-gaap:WarrantMember 2018-03-31 0001001601 MGTI:MrRobertLowreyMember 2018-01-01 2018-03-31 0001001601 MGTI:ConsultantsMember 2017-01-01 2017-03-31 0001001601 us-gaap:StockOptionMember 2018-03-31 0001001601 MGTI:BeaconLeasingLLCMember MGTI:TwentyFourMonthsMember 2017-12-06 2018-01-09 0001001601 MGTI:BeaconLeasingLLCMember MGTI:FirstAndLastMonthMember 2017-12-06 2018-01-09 0001001601 MGTI:BuckheadCryptoMember MGTI:ManagementAgreementTerminationMember 2018-02-27 2018-02-28 0001001601 MGTI:BuckheadCryptoMember MGTI:ManagementAgreementTerminationMember 2018-02-28 0001001601 MGTI:ThirdPartyMember MGTI:OtherManagementAgreementMember 2018-02-12 2018-02-13 0001001601 us-gaap:SubsequentEventMember MGTI:EmployeeAndDirectorMember 2018-04-05 2018-04-06 0001001601 us-gaap:SubsequentEventMember MGTI:AmendedAndRestatedExecutiveEmploymentAgreementMember MGTI:MrLaddMember MGTI:TwoThousandAndSixteenStockOptionPlanMember 2018-03-29 2018-04-01 0001001601 us-gaap:SubsequentEventMember MGTI:AmendedAndRestatedExecutiveEmploymentAgreementMember MGTI:MrLaddMember 2018-03-29 2018-04-01 0001001601 us-gaap:SubsequentEventMember 2018-04-15 2018-04-16 0001001601 MGTI:PromissoryNoteMember 2018-03-14 2018-03-16 0001001601 2018-03-14 2018-03-16 0001001601 MGTI:SeriesFWarrantMember 2018-01-01 2018-03-31 0001001601 MGTI:SeriesFWarrantMember 2018-03-31 0001001601 2018-05-08 0001001601 us-gaap:MaximumMember 2018-03-31 0001001601 us-gaap:MinimumMember 2018-03-31 0001001601 us-gaap:SubsequentEventMember 2018-04-29 2018-04-30 0001001601 us-gaap:SubsequentEventMember 2018-05-01 2018-05-02 0001001601 us-gaap:SubsequentEventMember 2018-04-30 0001001601 us-gaap:SubsequentEventMember 2018-05-02 0001001601 MGTI:ConsultantsMember 2018-01-01 2018-03-31 xbrli:shares iso4217:USD iso4217:USD xbrli:shares xbrli:pure MGTI:Bitcoin 9519000 345000 461000 522000 334000 -22000 -22000 42000 11034642 3250000 5375000 1500000. 6000000 2000000 6000000 -4236000 -2945000 8500000 83840 83840 8500000 0.001 0.001 125000000 125000000 75000000 125000000 58963009 66127626 58963009 66127626 10-Q false 2018-03-31 Q1 MGT CAPITAL INVESTMENTS INC --12-31 Smaller Reporting Company MGTI 493000 3116000 9148000 <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The Company&#8217;s activity in restricted common stock was as follows for the three months ended March 31, 2018:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&#160;</p> <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td>&#160;</td> <td>&#160;</td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt">Number of shares</font></td> <td>&#160;</td> <td>&#160;</td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt">Weighted average</font><br /> <font style="font-size: 10pt">grant date fair</font><br /> <font style="font-size: 10pt">value</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 68%"><font style="font-size: 10pt">Non&#8211;vested at January 1, 2018</font></td> <td style="width: 1%">&#160;</td> <td style="width: 1%">&#160;</td> <td style="width: 13%; text-align: right"><font style="font-size: 10pt">3,850,000</font></td> <td style="width: 1%">&#160;</td> <td style="width: 1%">&#160;</td> <td style="width: 1%"><font style="font-size: 10pt">$</font></td> <td style="width: 13%; text-align: right"><font style="font-size: 10pt">1.42</font></td> <td style="width: 1%">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td><font style="font-size: 10pt">Granted</font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font-size: 10pt">750,000</font></td> <td>&#160;</td> <td>&#160;</td> <td><font style="font-size: 10pt">$</font></td> <td style="text-align: right"><font style="font-size: 10pt">1.97</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font-size: 10pt">Vested</font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font-size: 10pt">(1,350,000</font></td> <td><font style="font-size: 10pt">)</font></td> <td>&#160;</td> <td><font style="font-size: 10pt">$</font></td> <td style="text-align: right"><font style="font-size: 10pt">1.39</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-bottom: 1.5pt"><font style="font-size: 10pt">Forfeited</font></td> <td style="padding-bottom: 1.5pt">&#160;</td> <td style="border-bottom: black 1.5pt solid; text-align: right">&#160;</td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt">&#8211;</font></td> <td style="padding-bottom: 1.5pt">&#160;</td> <td style="padding-bottom: 1.5pt">&#160;</td> <td style="padding-bottom: 1.5pt">&#160;</td> <td style="padding-bottom: 1.5pt; text-align: right">&#160;</td> <td style="padding-bottom: 1.5pt">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-bottom: 2.5pt"><font style="font-size: 10pt">Non&#8211;vested at March 31, 2018</font></td> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: black 2.25pt double; text-align: right">&#160;</td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 10pt">3,250,000</font></td> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="padding-bottom: 2.5pt"><font style="font-size: 10pt">$</font></td> <td style="padding-bottom: 2.5pt; text-align: right"><font style="font-size: 10pt">1.56</font></td> <td style="padding-bottom: 2.5pt">&#160;</td></tr> </table> <p style="margin: 0pt"></p> 2227000 1087000 0 962000 338000 1299000 0.001 0.001 0.001 0.001 2871000 0001001601 3695000 10208000 579000 1060000 0.20 0.20 <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>Note 1. Organization and Basis of Presentation</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><u>Organization</u></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">MGT Capital Investments, Inc. (&#8220;MGT Capital&#8221;) is a Delaware corporation, incorporated in 2000. MGT Capital was originally incorporated in Utah in 1977. &#8220;MGT&#8221; or the &#8220;Company&#8221; is comprised of the parent company, wholly&#8211;owned subsidiaries MGT Cybersecurity, Inc., Medicsight, Inc., MGT Sports, Inc., MGT Studios, Inc. (&#8220;MGT Studios&#8221;), MGT Interactive, LLC, MGT Gaming, Inc., MGT Mining One, Inc. and MGT Mining Two, Inc. MGT Studios also owns a controlling minority interest in the subsidiary M2P Americas, Inc. MGT&#8217;s corporate office is located in Durham, North Carolina.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">On March 23, 2018, the Company&#8217;s stockholders approved an increase in the Company&#8217;s authorized common stock from 75,000,000 shares to 125,000,000 shares. On March 23, 2018, the Company filed an amendment to its Certificate of Incorporation with the state of Delaware to reflect this change.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">On March 23, 2018, the Company&#8217;s stockholders approved a 1-for-2 reverse split of the Company&#8217;s common stock, to be effected only if needed for the Company&#8217;s application to uplist its common stock to a national exchange. As of May 9, 2018, the Company had not amended its Certificate of Incorporation to reflect this reverse split and such adjustments are not reflected within these unaudited condensed consolidated financial statements.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><u>Cryptocurrency mining</u></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>&#160;</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">In September 2016, MGT commenced its Bitcoin mining operations in the Wenatchee Valley area of central Washington. Throughout 2017 the Company expanded its mining capacity with the purchase of additional miners and by entering into hosting and power agreements with Washington facilities owners. The Company also entered into management agreements with third party investors whereby the investors purchased the mining hardware, and the Company will receive both a fee to manage the mining operations plus one-half of the net operating profit.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Due to the lack of availability of adequate electric power in Washington to support the Company&#8217;s growth, the Company decided to move its principal operations to northern Sweden at the end of 2017. During the first quarter of 2018, the Company took delivery of additional Bitcoin mining machines in Sweden and moved or sold most of its Bitcoin mining machines from Washington. The Company plans to continue growing its mining capacity in Sweden during 2018.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">As of March 31, 2018, MGT owned and operated approximately 500 miners located in a leased facility in Quincy, Washington and 4,200 miners located in a leased facility in Sweden. In addition, the Company operates about 2,100 miners in the Sweden location pursuant to management agreements. All miners owned or managed by MGT are S9 Antminers sold by Bitmain Technologies LTD. At full deployment expected in May 2018, our total Bitcoin mining capacity, as measured by computational hashing rate, will be approximately 90 petahash per second (&#8220;PH/s&#8221;). In addition to the S9 Antminers, the Company owns 50 custom designed GPU-based Ethereum mining rigs. During the three months ended March 31, 2018, the Company mined 91.5 Bitcoin for total revenue of $956.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><u>Legacy business &#8211; cybersecurity</u></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">On January 26, 2018, the Company announced the end of its business relationship with cybersecurity pioneer John McAfee. Since August 2017, Mr. McAfee had served as Chief Cybersecurity Visionary of the Company, guiding the development of the Company&#8217;s cybersecurity business, including Sentinel, an enterprise class network intrusion detector, released in October 2017. The Company also owned the intellectual property associated with developing and marketing a mobile privacy phone with extensive privacy and anti-hacking features.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">On March 19, 2018, the Company announced it had ended its cybersecurity operations by selling the Sentinel product line to a new entity formed by the unit&#8217;s management team and stopping development of the privacy phone. The Sentinel assets were sold for consideration of $60 in cash and a $1,000 promissory note, convertible into a 20% equity interest of the buyer.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><u>Basis of presentation</u></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>&#160;</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions to Form 10&#8211;Q and Rule 10 of Regulation S&#8211;X. Accordingly, they do not include all of the information and notes required by accounting principles generally accepted in the United States of America. However, in the opinion of the management of the Company, all adjustments necessary for a fair presentation of the financial position and operating results have been included in these statements. These unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company&#8217;s Annual Report on Form 10&#8211;K for the fiscal year ended December 31, 2017, as filed with the SEC on April 2, 2018. Operating results for the three months ended March 31, 2018 are not necessarily indicative of the results that may be expected for any subsequent quarters or for the year ending December 31, 2018.</p> <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>Note 2. Going Concern and Management&#8217;s Plans</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>&#160;</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The accompanying unaudited condensed consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. As of March 31, 2018, the Company had incurred significant operating losses since inception and continues to generate losses from operations and as of March 31, 2018, has an accumulated deficit of $385,963. At March 31, 2018, MGT&#8217;s cash and cash equivalents were $461. At May 8, 2018, MGT&#8217;s cash and cash equivalents were $522.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Management&#8217;s plans include putting into service its additional cryptocurrency mining machines, which were installed during early 2018, but for which the facility needs additional outfitting in order to be fully operational. The Company expects this facility to be fully operational during the second quarter of 2018. If there is a further delay in becoming fully operational, the Company may need to raise additional funding to provide liquidity to fund its operations. Based on current budget assumptions, the Company believes that it will be able to meet its operating expenses and obligations for one year from the date these unaudited condensed consolidated financial statements are issued. There can be no assurance however that the Company will be able to raise additional financing or other additional capital when needed, or at terms that would be considered acceptable to the Company. Such factors raise substantial doubt about the Company&#8217;s ability to sustain operations for at least one year from the issuance of these unaudited condensed consolidated financial statements. Management&#8217;s plans, including the operation of its existing crypto-currency mining machines, the raising of additional capital and potentially curtailing its operations alleviate such substantial doubt. The accompanying unaudited condensed consolidated financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.</p> <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>Note 3. Summary of Significant Accounting Policies</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>&#160;</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><u>Principles of consolidation</u></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>&#160;</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The unaudited condensed consolidated financial statements include the accounts of MGT and its wholly owned subsidiaries. All intercompany transactions and balances have been eliminated. Non-controlling interest represents the non-controlling equity investment in MGT subsidiaries, plus the minority investors&#8217; share of the net operating results and other components of equity relating to the non-controlling interest.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>&#160;</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><u>Reclassification</u></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>&#160;</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Certain amounts in prior periods have been reclassified to conform to current period presentation. These reclassifications had no effect on the previously reported net loss.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>&#160;</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><u>Use of estimates and assumptions and critical accounting estimates and assumptions</u></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>&#160;</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities as of the date of the financial statements, and also affect the amounts of revenues and expenses reported for each period. Actual results could differ from those which result from using such estimates. Management utilizes various other estimates, including but not limited to determining the estimated lives of long-lived assets, determining the potential impairment of intangibles, the fair value of warrants issued, the fair value of stock options, the fair value of conversion features, the fair value of the deemed dividend, the recognition of revenue, the valuation allowance for deferred tax assets and other legal claims and contingencies. The results of any changes in accounting estimates are reflected in the financial statements in the period in which the changes become evident. Estimates and assumptions are reviewed periodically and the effects of revisions are reflected in the period that they are determined to be necessary.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><u>Revenue recognition</u></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>&#160;</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The Company recognizes revenue when it is realized or realizable and earned. The Company considers revenue realized or realizable and earned when there is persuasive evidence of an arrangement, delivery has occurred, the sales price is fixed or determinable and collectability is probable. The Company&#8217;s primary revenue stream is related to the mining of digital currencies. The Company derives its revenue by solving &#8220;blocks&#8221; to be added to the blockchain and providing transaction verification services within the digital currency networks of cryptocurrencies, such as Bitcoin and Ethereum, commonly termed &#8220;cryptocurrency mining.&#8221; In consideration for these services, the Company receives digital currency (&#8220;Coins&#8221;). The Coins are recorded as revenue, using the average spot price of Bitcoin on the date of receipt. The Coins are recorded on the balance sheet at their fair value and re&#8211;measured at each reporting date. Costs of revenues includes equipment depreciation, rent, and electricity costs. Revaluation gains or losses, as well gains or losses on sale of Coins are also recorded cost of revenue in the unaudited condensed consolidated statements of operations.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>&#160;</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><u>Income taxes</u></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The Company accounts for income taxes in accordance with Accounting Standards Codification (&#8220;ASC&#8221;) 740, &#8220;Income Taxes&#8221;. ASC 740 requires an asset and liability approach for financial accounting and reporting for income taxes and established for all the entities a minimum threshold for financial statement recognition of the benefit of tax positions, and requires certain expanded disclosures. The provision for income taxes is based upon income or loss after adjustment for those permanent items that are not considered in the determination of taxable income. Deferred income taxes represent the tax effects of differences between the financial reporting and tax basis of the Company&#8217;s assets and liabilities at the enacted tax rates in effect for the years in which the differences are expected to reverse. The Company evaluates the recoverability of deferred tax assets and establishes a valuation allowance when it is more likely than not that some portion or all the deferred tax assets will not be realized. Management makes judgments as to the interpretation of the tax laws that might be challenged upon an audit and cause changes to previous estimates of tax liability. In management&#8217;s opinion, adequate provisions for income taxes have been made. If actual taxable income by tax jurisdiction varies from estimates, additional allowances or reversals of reserves may be necessary.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>&#160;</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The Tax Cuts and Jobs Act (the &#8220;Tax Act&#8221;) was enacted on December 22, 2017. The Tax Act reduces the U.S. federal corporate tax rate from 35% to 21%. As of the completion of these unaudited condensed consolidated financial statements and related disclosures, we have made a reasonable estimate of the effects of the Tax Act. This estimate incorporates assumptions made based upon the Company&#8217;s current interpretation of the Tax Act, and may change as the Company may receive additional clarification and implementation guidance and as the interpretation of the Tax Act evolves. In accordance with the Securities and Exchange Commission (the &#8220;SEC&#8221;) Staff Accounting Bulletin No. 118, the Company will finalize the accounting for the effects of the Tax Act no later than the fourth quarter of 2018. Future adjustments made to the provisional effects will be reported as a component of income tax expense in the reporting period in which any such adjustments are determined. Based on the new tax law that lowers corporate tax rates, the Company revalued its deferred tax assets. Future tax benefits are expected to be lower, with the corresponding one time charge being recorded as a component of income tax expense.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>&#160;</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The Company is currently delinquent in the filing of its U.S. federal and state income tax returns for the years ended December 31, 2016 and 2015. The Company anticipates filing these returns on or before June 30, 2018.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>&#160;</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><u>Loss per share</u></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Basic loss per share is calculated by dividing net loss applicable to common shareholders by the weighted average number of common shares outstanding during the period. Diluted loss per share is calculated by dividing the net loss attributable to common shareholders by the sum of the weighted average number of common shares outstanding plus potential dilutive common shares outstanding during the period. Potential dilutive securities, comprised of unvested restricted shares, convertible debt stock warrants and stock options, are not reflected in diluted net loss per share because such potential shares are anti&#8211;dilutive due to the Company&#8217;s net loss.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Accordingly, the computation of diluted loss per share for the three months ended March 31, 2018 excludes 2,000,000 shares issuable to the investors of the December 2017 private placement, 3,250,000 unvested restricted shares, 6,000,000 shares issuable under stock options, and 11,034,642 shares issuable under warrants. The computation of diluted loss per share for the three months ended March 31, 2017 excludes 1,500,000 unvested restricted shares, 6,000,000 shares issuable under options and 5,375,000 shares issuable under warrants, as they are anti&#8211;dilutive due to the Company&#8217;s net loss.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><u>Stock&#8211;based compensation</u></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>&#160;</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The Company recognizes compensation expense for all equity&#8211;based payments in accordance with ASC 718 &#8220;Compensation &#8211; Stock Compensation&#8221;. Under fair value recognition provisions, the Company recognizes equity&#8211;based compensation net of an estimated forfeiture rate and recognizes compensation cost only for those shares expected to vest over the requisite service period of the award.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Restricted stock awards are granted at the discretion of the compensation committee of the board of directors of the Company. These awards are restricted as to the transfer of ownership and generally vest over the requisite service periods, typically over a 12 to 24-month period (vesting on a straight&#8211;line basis). The fair value of a stock award is equal to the fair market value of a share of the Company&#8217;s common stock on the grant date.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The fair value of an option award is estimated on the date of grant using the Black&#8211;Scholes option valuation model. The Black&#8211;Scholes option valuation model requires the development of assumptions that are inputs into the model. These assumptions are the expected stock volatility, the risk&#8211;free interest rate, the expected life of the option, the dividend yield on the underlying stock and the expected forfeiture rate. Expected volatility is calculated based on the historical volatility of the Company&#8217;s common stock over the expected term of the option. Risk&#8211;free interest rates are calculated based on continuously compounded risk&#8211;free rates for the appropriate term.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Determining the appropriate fair value model and calculating the fair value of equity&#8211;based payment awards requires the input of the subjective assumptions described above. The assumptions used in calculating the fair value of equity&#8211;based payment awards represent management&#8217;s best estimates, which involve inherent uncertainties and the application of management&#8217;s judgment. The Company is required to estimate the expected forfeiture rate and recognize expense only for those shares expected to vest. The fair value of unvested equity instruments is re-measured each reporting period and such re-measured value is amortized over the requisite remaining service period.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The Company accounts for share&#8211;based payments granted to non&#8211;employees in accordance with ASC 505&#8211;50, &#8220;Equity Based Payments to Non&#8211;Employees.&#8221; The Company determines the fair value of the stock&#8211;based payment as either the fair value of the consideration received or the fair value of the equity instruments issued, whichever is more readily determinable. If the fair value of the equity instruments issued is used, it is measured using the stock price and other measurement assumptions as of the earlier of either (1) the date at which a commitment for performance by the counterparty to earn the equity instruments is reached, or (2) the date at which the counterparty&#8217;s performance is complete.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><u>Equity-linked instruments</u></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The Company accounts for equity-linked instruments with certain anti-dilution provisions in accordance with ASC 815 and ASC 260. Under this guidance, the Company excludes instruments with certain down round features when determining whether a financial instrument (or embedded conversion feature) is considered indexed to the Company&#8217;s own stock. As a result, financial instruments (or embedded conversion features) with down round features are not required to be classified as derivative liabilities. The Company recoognizes the value of a down round feature only when it is triggered and the exercise or conversion price has been adjusted downward. For equity-classified freestanding financial instruments, such as warrants, the Company treats the value of the effect of the down round, when triggered, as a deemed dividend and a reduction of income available to common stockholders in computing basic earnings per share. For convertible instruments with embedded conversion features containing down round provisions, the Company recognizes the value of the down round as a beneficial conversion discount to be amortized to earnings.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><u>Recent accounting pronouncements</u></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>&#160;</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Management does not believe that any recently issued, but not yet effective accounting pronouncements, when adopted, will have a material effect on the accompanying unaudited condensed consolidated financial statements, other than those disclosed in the Company&#8217;s Annual Report on Form 10-K, filed with the SEC on April 2, 2018.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><u>Management&#8217;s Evaluation of Subsequent Events</u></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The Company evaluates events that have occurred after the balance sheet date but before the financial statements are issued. Based upon the review, other than what is described in Note 11 &#8211; Subsequent Events, the Company did not identify any recognized or non-recognized subsequent events that would have required adjustment or disclosure in the unaudited condensed consolidated financial statements.</p> <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>Note 7. Stock&#8211;Based Compensation</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>&#160;</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><u>Issuance of restricted common stock &#8211; directors, officers and employees</u></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>&#160;</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">During the three months ended March 31, 2018, the Company granted 750,000 shares of restricted common stock to Mr. Robert Lowrey in connection with his employment agreement to serve as the Company&#8217;s Chief Financial Officer. The Company valued the award on its grant date and is expensing the grant date fair value over the 24 month vesting period.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The Company&#8217;s activity in restricted common stock was as follows for the three months ended March 31, 2018:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&#160;</p> <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td>&#160;</td> <td>&#160;</td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt">Number of shares</font></td> <td>&#160;</td> <td>&#160;</td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt">Weighted average</font><br /> <font style="font-size: 10pt">grant date fair</font><br /> <font style="font-size: 10pt">value</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 68%"><font style="font-size: 10pt">Non&#8211;vested at January 1, 2018</font></td> <td style="width: 1%">&#160;</td> <td style="width: 1%">&#160;</td> <td style="width: 13%; text-align: right"><font style="font-size: 10pt">3,850,000</font></td> <td style="width: 1%">&#160;</td> <td style="width: 1%">&#160;</td> <td style="width: 1%"><font style="font-size: 10pt">$</font></td> <td style="width: 13%; text-align: right"><font style="font-size: 10pt">1.42</font></td> <td style="width: 1%">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td><font style="font-size: 10pt">Granted</font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font-size: 10pt">750,000</font></td> <td>&#160;</td> <td>&#160;</td> <td><font style="font-size: 10pt">$</font></td> <td style="text-align: right"><font style="font-size: 10pt">1.97</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font-size: 10pt">Vested</font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font-size: 10pt">(1,350,000</font></td> <td><font style="font-size: 10pt">)</font></td> <td>&#160;</td> <td><font style="font-size: 10pt">$</font></td> <td style="text-align: right"><font style="font-size: 10pt">1.39</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-bottom: 1.5pt"><font style="font-size: 10pt">Forfeited</font></td> <td style="padding-bottom: 1.5pt">&#160;</td> <td style="border-bottom: black 1.5pt solid; text-align: right">&#160;</td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt">&#8211;</font></td> <td style="padding-bottom: 1.5pt">&#160;</td> <td style="padding-bottom: 1.5pt">&#160;</td> <td style="padding-bottom: 1.5pt">&#160;</td> <td style="padding-bottom: 1.5pt; text-align: right">&#160;</td> <td style="padding-bottom: 1.5pt">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-bottom: 2.5pt"><font style="font-size: 10pt">Non&#8211;vested at March 31, 2018</font></td> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: black 2.25pt double; text-align: right">&#160;</td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 10pt">3,250,000</font></td> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="padding-bottom: 2.5pt"><font style="font-size: 10pt">$</font></td> <td style="padding-bottom: 2.5pt; text-align: right"><font style="font-size: 10pt">1.56</font></td> <td style="padding-bottom: 2.5pt">&#160;</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">For the three months ended March 31, 2018 and 2017, in connection with the vesting of restricted common stock awards, the Company has recorded $1,087 and $338, in employee and director stock&#8211;based compensation expense, which is a component of general and administrative expense in the unaudited condensed consolidated statement of operations and comprehensive loss.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">As of March 31, 2018, unamortized stock-based compensation costs related to restricted share arrangements was $3,892, and will be recognized over a weighted average period of 1.26 years.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><u>Stock options</u></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>&#160;</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The following is a summary of the Company&#8217;s stock option activity for the three months ended March 31, 2018:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&#160;</p> <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; text-align: center">&#160;</td> <td style="padding-bottom: 1.5pt">&#160;</td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt">Options</font></td> <td style="padding-bottom: 1.5pt">&#160;</td> <td style="padding-bottom: 1.5pt">&#160;</td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt">Weighted</font><br /> <font style="font-size: 10pt">average</font><br /> <font style="font-size: 10pt">exercise price</font></td> <td style="padding-bottom: 1.5pt">&#160;</td> <td style="padding-bottom: 1.5pt">&#160;</td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt">Weighted </font><br /> <font style="font-size: 10pt">average Grant date fair value</font></td> <td style="padding-bottom: 1.5pt">&#160;</td> <td style="padding-bottom: 1.5pt">&#160;</td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt">Weighted average remaining </font><br /> <font style="font-size: 10pt">life</font></td> <td style="padding-bottom: 1.5pt">&#160;</td> <td style="padding-bottom: 1.5pt">&#160;</td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt">Intrinsic value</font></td> <td style="padding-bottom: 1.5pt">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 24%"><font style="font-size: 10pt">Outstanding &#8211; January 1, 2018</font></td> <td style="width: 1%">&#160;</td> <td style="width: 1%">&#160;</td> <td style="width: 11%; text-align: right"><font style="font-size: 10pt">6,000,000</font></td> <td style="width: 1%">&#160;</td> <td style="width: 1%">&#160;</td> <td style="width: 1%"><font style="font-size: 10pt">$</font></td> <td style="width: 11%; text-align: right"><font style="font-size: 10pt">0.71</font></td> <td style="width: 1%">&#160;</td> <td style="width: 1%">&#160;</td> <td style="width: 1%"><font style="font-size: 10pt">$</font></td> <td style="width: 13%; text-align: right"><font style="font-size: 10pt">1.29</font></td> <td style="width: 1%">&#160;</td> <td style="width: 1%">&#160;</td> <td style="width: 1%">&#160;</td> <td style="width: 13%; text-align: right">&#160;</td> <td style="width: 1%">&#160;</td> <td style="width: 1%">&#160;</td> <td style="width: 1%">&#160;</td> <td style="width: 13%; text-align: right">&#160;</td> <td style="width: 1%">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td><font style="font-size: 10pt">Granted</font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font-size: 10pt">&#8211;</font></td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font-size: 10pt">Exercised</font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font-size: 10pt">&#8211;</font></td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-bottom: 1.5pt"><font style="font-size: 10pt">Forfeited/Cancelled</font></td> <td style="padding-bottom: 1.5pt">&#160;</td> <td style="border-bottom: black 1.5pt solid; text-align: right">&#160;</td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt">&#8211;</font></td> <td style="padding-bottom: 1.5pt">&#160;</td> <td style="padding-bottom: 1.5pt">&#160;</td> <td style="padding-bottom: 1.5pt">&#160;</td> <td style="padding-bottom: 1.5pt; text-align: right">&#160;</td> <td style="padding-bottom: 1.5pt">&#160;</td> <td style="padding-bottom: 1.5pt">&#160;</td> <td style="padding-bottom: 1.5pt">&#160;</td> <td style="padding-bottom: 1.5pt; text-align: right">&#160;</td> <td style="padding-bottom: 1.5pt">&#160;</td> <td style="padding-bottom: 1.5pt">&#160;</td> <td style="padding-bottom: 1.5pt">&#160;</td> <td style="padding-bottom: 1.5pt; text-align: right">&#160;</td> <td style="padding-bottom: 1.5pt">&#160;</td> <td style="padding-bottom: 1.5pt">&#160;</td> <td style="padding-bottom: 1.5pt">&#160;</td> <td style="padding-bottom: 1.5pt; text-align: right">&#160;</td> <td style="padding-bottom: 1.5pt">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-bottom: 2.5pt"><font style="font-size: 10pt">Outstanding &#8211; March 31, 2018</font></td> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: black 2.25pt double">&#160;</td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 10pt">6,000,000</font></td> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: black 2.25pt double"><font style="font-size: 10pt">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 10pt">0.71</font></td> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: black 2.25pt double"><font style="font-size: 10pt">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 10pt">1.29</font></td> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 10pt">4.38</font></td> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: black 2.25pt double"><font style="font-size: 10pt">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 10pt">3,460</font></td> <td style="padding-bottom: 2.5pt">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-bottom: 2.5pt"><font style="font-size: 10pt">Exercisable &#8211; March 31, 2018</font></td> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: black 2.25pt double">&#160;</td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 10pt">6,000,000</font></td> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: black 2.25pt double"><font style="font-size: 10pt">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 10pt">0.71</font></td> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: black 2.25pt double"><font style="font-size: 10pt">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 10pt">1.29</font></td> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 10pt">4.38</font></td> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: black 2.25pt double"><font style="font-size: 10pt">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 10pt">3,460</font></td> <td style="padding-bottom: 2.5pt">&#160;</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">For the three months ended March 31, 2018 and 2017, the Company has recorded $0 and $962, respectively, in stock option related stock-based compensation expense, which is a component of general and administrative expense in the unaudited condensed consolidated statement of operations and comprehensive loss.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">As of March 31, 2018, there were no unrecognized compensation costs, as all outstanding stock options are fully vested.</p> <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>Note 11. Subsequent Events</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>&#160;</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The Company has evaluated the impacts of subsequent events through May 9, 2018, and has determined that no such events occurred that were required to be reflected in the consolidated financial statements, except as described within the above notes and described below.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><u>Shares Issued to Consultants</u></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Subsequent to March 31, 2018 through May 9, 2018, the Company issued 223,000 shares of its common stock to consultants in exchange for services.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><u>Shares Issued to Employees and Directors</u></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">On April 6, 2018, the Company issued 1,050,000 of its restricted common stock to certain executive employees and directors in connection with the commencement of its Bitcoin operation in Sweden. The shares were valued at $1,302 on date of grant and such value will recognized as non-cash compensation over the twelve-month vesting period.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><u>Employment Agreement</u></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">On April 1, 2018, the Company entered into an Amended and Restated Executive Employment Agreement (the &#8220;Employment Agreement&#8221;) with Mr. Robert Ladd, which was executed on April 6, 2018. The Employment Agreement provides that Mr. Ladd has been reappointed for an initial term of two years. Mr. Ladd is entitled to receive an annualized base salary of $360,000 and is also eligible for a cash and/or equity bonus as the Compensation Committee may determine, from time to time, based on meeting performance objectives and bonus criteria to be mutually identified by Mr. Ladd and the Compensation Committee. In connection with the execution of the Employment Agreement, the Company issued to Mr. Ladd 600,000 shares of the Company&#8217;s restricted common stock, pursuant to the Company&#8217;s 2016 Stock Option Plan, vesting over a two-year period.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><u>Warrant Exercise</u></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">On April 16, 2018, the Company issued 1,000,000 shares of its common stock in exchange for the cashless exercise of warrants.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">On April 30, 2018, the Company received $313 in proceeds from the exercise of a warrant to purchase 625,000 shares of the Company&#8217;s common stock.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">On May 2, 2018, the Company received $313 in proceeds from the exercise of a warrant to purchase 625,000 shares of the Company&#8217;s common stock.</p> <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Property and equipment consisted of the following:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&#160;</p> <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt">&#160;</td> <td style="padding-bottom: 1.5pt">&#160;</td> <td colspan="6" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt">As of</font></td> <td style="padding-bottom: 1.5pt">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt">&#160;</td> <td style="padding-bottom: 1.5pt">&#160;</td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt">March 31, 2018</font></td> <td style="padding-bottom: 1.5pt">&#160;</td> <td style="padding-bottom: 1.5pt">&#160;</td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt">December 31, 2017</font></td> <td style="padding-bottom: 1.5pt">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 62%"><font style="font-size: 10pt">Computer hardware and software</font></td> <td style="width: 1%">&#160;</td> <td style="width: 1%"><font style="font-size: 10pt">$</font></td> <td style="width: 16%; text-align: right"><font style="font-size: 10pt">10</font></td> <td style="width: 1%">&#160;</td> <td style="width: 1%">&#160;</td> <td style="width: 1%"><font style="font-size: 10pt">$</font></td> <td style="width: 16%; text-align: right"><font style="font-size: 10pt">10</font></td> <td style="width: 1%">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-bottom: 1.5pt"><font style="font-size: 10pt">Crypto-currency mining machines</font></td> <td style="padding-bottom: 1.5pt">&#160;</td> <td style="border-bottom: black 1.5pt solid">&#160;</td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt">10,198</font></td> <td style="padding-bottom: 1.5pt">&#160;</td> <td style="padding-bottom: 1.5pt">&#160;</td> <td style="border-bottom: black 1.5pt solid">&#160;</td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt">3,685</font></td> <td style="padding-bottom: 1.5pt">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-left: 10pt"><font style="font-size: 10pt">Property and equipment, gross</font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font-size: 10pt">10,208</font></td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font-size: 10pt">3,695</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-bottom: 1.5pt"><font style="font-size: 10pt">Less: Accumulated depreciation</font></td> <td style="padding-bottom: 1.5pt">&#160;</td> <td style="border-bottom: black 1.5pt solid">&#160;</td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt">(1,060</font></td> <td style="padding-bottom: 1.5pt"><font style="font-size: 10pt">)</font></td> <td style="padding-bottom: 1.5pt">&#160;</td> <td style="border-bottom: black 1.5pt solid">&#160;</td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt">(579</font></td> <td style="padding-bottom: 1.5pt"><font style="font-size: 10pt">)</font></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-bottom: 2.5pt; padding-left: 10pt"><font style="font-size: 10pt">Property and equipment, net</font></td> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: black 2.25pt double"><font style="font-size: 10pt">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 10pt">9,148</font></td> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: black 2.25pt double"><font style="font-size: 10pt">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 10pt">3,116</font></td> <td style="padding-bottom: 2.5pt">&#160;</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"></p> <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The following is a summary of the Company&#8217;s stock option activity for the three months ended March 31, 2018:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&#160;</p> <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; text-align: center">&#160;</td> <td style="padding-bottom: 1.5pt">&#160;</td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt">Options</font></td> <td style="padding-bottom: 1.5pt">&#160;</td> <td style="padding-bottom: 1.5pt">&#160;</td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt">Weighted</font><br /> <font style="font-size: 10pt">average</font><br /> <font style="font-size: 10pt">exercise price</font></td> <td style="padding-bottom: 1.5pt">&#160;</td> <td style="padding-bottom: 1.5pt">&#160;</td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt">Weighted </font><br /> <font style="font-size: 10pt">average Grant date fair value</font></td> <td style="padding-bottom: 1.5pt">&#160;</td> <td style="padding-bottom: 1.5pt">&#160;</td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt">Weighted average remaining </font><br /> <font style="font-size: 10pt">life</font></td> <td style="padding-bottom: 1.5pt">&#160;</td> <td style="padding-bottom: 1.5pt">&#160;</td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt">Intrinsic value</font></td> <td style="padding-bottom: 1.5pt">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 24%"><font style="font-size: 10pt">Outstanding &#8211; January 1, 2018</font></td> <td style="width: 1%">&#160;</td> <td style="width: 1%">&#160;</td> <td style="width: 11%; text-align: right"><font style="font-size: 10pt">6,000,000</font></td> <td style="width: 1%">&#160;</td> <td style="width: 1%">&#160;</td> <td style="width: 1%"><font style="font-size: 10pt">$</font></td> <td style="width: 11%; text-align: right"><font style="font-size: 10pt">0.71</font></td> <td style="width: 1%">&#160;</td> <td style="width: 1%">&#160;</td> <td style="width: 1%"><font style="font-size: 10pt">$</font></td> <td style="width: 13%; text-align: right"><font style="font-size: 10pt">1.29</font></td> <td style="width: 1%">&#160;</td> <td style="width: 1%">&#160;</td> <td style="width: 1%">&#160;</td> <td style="width: 13%; text-align: right">&#160;</td> <td style="width: 1%">&#160;</td> <td style="width: 1%">&#160;</td> <td style="width: 1%">&#160;</td> <td style="width: 13%; text-align: right">&#160;</td> <td style="width: 1%">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td><font style="font-size: 10pt">Granted</font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font-size: 10pt">&#8211;</font></td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font-size: 10pt">Exercised</font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font-size: 10pt">&#8211;</font></td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-bottom: 1.5pt"><font style="font-size: 10pt">Forfeited/Cancelled</font></td> <td style="padding-bottom: 1.5pt">&#160;</td> <td style="border-bottom: black 1.5pt solid; text-align: right">&#160;</td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt">&#8211;</font></td> <td style="padding-bottom: 1.5pt">&#160;</td> <td style="padding-bottom: 1.5pt">&#160;</td> <td style="padding-bottom: 1.5pt">&#160;</td> <td style="padding-bottom: 1.5pt; text-align: right">&#160;</td> <td style="padding-bottom: 1.5pt">&#160;</td> <td style="padding-bottom: 1.5pt">&#160;</td> <td style="padding-bottom: 1.5pt">&#160;</td> <td style="padding-bottom: 1.5pt; text-align: right">&#160;</td> <td style="padding-bottom: 1.5pt">&#160;</td> <td style="padding-bottom: 1.5pt">&#160;</td> <td style="padding-bottom: 1.5pt">&#160;</td> <td style="padding-bottom: 1.5pt; text-align: right">&#160;</td> <td style="padding-bottom: 1.5pt">&#160;</td> <td style="padding-bottom: 1.5pt">&#160;</td> <td style="padding-bottom: 1.5pt">&#160;</td> <td style="padding-bottom: 1.5pt; text-align: right">&#160;</td> <td style="padding-bottom: 1.5pt">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-bottom: 2.5pt"><font style="font-size: 10pt">Outstanding &#8211; March 31, 2018</font></td> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: black 2.25pt double">&#160;</td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 10pt">6,000,000</font></td> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: black 2.25pt double"><font style="font-size: 10pt">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 10pt">0.71</font></td> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: black 2.25pt double"><font style="font-size: 10pt">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 10pt">1.29</font></td> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 10pt">4.38</font></td> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: black 2.25pt double"><font style="font-size: 10pt">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 10pt">3,460</font></td> <td style="padding-bottom: 2.5pt">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-bottom: 2.5pt"><font style="font-size: 10pt">Exercisable &#8211; March 31, 2018</font></td> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: black 2.25pt double">&#160;</td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 10pt">6,000,000</font></td> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: black 2.25pt double"><font style="font-size: 10pt">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 10pt">0.71</font></td> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: black 2.25pt double"><font style="font-size: 10pt">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 10pt">1.29</font></td> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 10pt">4.38</font></td> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: black 2.25pt double"><font style="font-size: 10pt">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 10pt">3,460</font></td> <td style="padding-bottom: 2.5pt">&#160;</td></tr> </table> <p style="margin: 0pt"></p> <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>Note 6. Common Stock and Warrant Issuances</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>&#160;</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><b><u>Sale of common stock</u></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">On March 15, 2018, the Company issued 200,000 shares of common stock to an investor for $80 in gross proceeds.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">On January 17, 2018, the Company received $281 from the exercise of warrants to purchase 375,000 shares of common stock.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">During the three months ended March 31, 2018, the Company issued an aggregate of 1,849,250 shares of common stock in exchange for the cashless exercise of warrants to purchase 3,311,100 shares of common stock.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">During the three months ended March 31, 2018, the Company issued 448,551 shares of its common stock to consultants in exchange for services. These services were valued using the value of the shares issued of $839. During the three months ended March, 31, 2017, the Company did not issue any shares to consultants in exchange for services.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">On December 7, 2017, a holder of one of the Company&#8217;s convertible notes payable converted their note, but requested that the Company not issue the shares due to ownership limitation provisions. During the three months ended March 31, 2018, the ownership limitations were satisfied and the Company issued 3,381,816 shares of its common stock to this former noteholder.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><u>Warrants</u></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The following table summarizes information about shares issuable under warrants outstanding at March 31, 2018:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&#160;</p> <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt">&#160;</td> <td style="padding-bottom: 1.5pt">&#160;</td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt">Warrant </font><br /> <font style="font-size: 10pt">shares outstanding</font></td> <td style="padding-bottom: 1.5pt">&#160;</td> <td style="padding-bottom: 1.5pt">&#160;</td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt">Weighted </font><br /> <font style="font-size: 10pt">average</font><br /> <font style="font-size: 10pt">exercise price</font></td> <td style="padding-bottom: 1.5pt">&#160;</td> <td style="padding-bottom: 1.5pt">&#160;</td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt">Weighted average remaining life</font></td> <td style="padding-bottom: 1.5pt">&#160;</td> <td style="padding-bottom: 1.5pt">&#160;</td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt">Intrinsic value</font></td> <td style="padding-bottom: 1.5pt">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 36%"><font style="font-size: 10pt">Outstanding at January 1, 2018</font></td> <td style="width: 1%">&#160;</td> <td style="width: 1%">&#160;</td> <td style="width: 13%; text-align: right"><font style="font-size: 10pt">13,720,742</font></td> <td style="width: 1%">&#160;</td> <td style="width: 1%">&#160;</td> <td style="width: 1%"><font style="font-size: 10pt">$</font></td> <td style="width: 13%; text-align: right"><font style="font-size: 10pt">1.49</font></td> <td style="width: 1%">&#160;</td> <td style="width: 1%">&#160;</td> <td style="width: 1%">&#160;</td> <td style="width: 13%; text-align: right">&#160;</td> <td style="width: 1%">&#160;</td> <td style="width: 1%">&#160;</td> <td style="width: 1%">&#160;</td> <td style="width: 13%; text-align: right">&#160;</td> <td style="width: 1%">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td><font style="font-size: 10pt">Issued</font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font-size: 10pt">-</font></td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font-size: 10pt">Additional warrants issued for trigger of anti-dilution protection</font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font-size: 10pt">1,000,000</font></td> <td>&#160;</td> <td>&#160;</td> <td><font style="font-size: 10pt">$</font></td> <td style="text-align: right"><font style="font-size: 10pt">0.40</font></td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td><font style="font-size: 10pt">Exercised</font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font-size: 10pt">(3,686,100</font></td> <td><font style="font-size: 10pt">)</font></td> <td>&#160;</td> <td><font style="font-size: 10pt">$</font></td> <td style="text-align: right"><font style="font-size: 10pt">1.09</font></td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-bottom: 1.5pt"><font style="font-size: 10pt">Expired or cancelled</font></td> <td style="padding-bottom: 1.5pt">&#160;</td> <td style="border-bottom: black 1.5pt solid; text-align: right">&#160;</td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt">-</font></td> <td style="padding-bottom: 1.5pt">&#160;</td> <td style="padding-bottom: 1.5pt">&#160;</td> <td style="padding-bottom: 1.5pt">&#160;</td> <td style="padding-bottom: 1.5pt; text-align: right">&#160;</td> <td style="padding-bottom: 1.5pt">&#160;</td> <td style="padding-bottom: 1.5pt">&#160;</td> <td style="padding-bottom: 1.5pt">&#160;</td> <td style="padding-bottom: 1.5pt; text-align: right">&#160;</td> <td style="padding-bottom: 1.5pt">&#160;</td> <td style="padding-bottom: 1.5pt">&#160;</td> <td style="padding-bottom: 1.5pt">&#160;</td> <td style="padding-bottom: 1.5pt; text-align: right">&#160;</td> <td style="padding-bottom: 1.5pt">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-bottom: 2.5pt"><font style="font-size: 10pt">Outstanding at March 31, 2018</font></td> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: black 2.25pt double; text-align: right">&#160;</td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 10pt">11,034,642</font></td> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: black 2.25pt double"><font style="font-size: 10pt">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 10pt">0.79</font></td> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: black 2.25pt double">&#160;</td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 10pt">3.04</font></td> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: black 2.25pt double"><font style="font-size: 10pt">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 10pt">6,476</font></td> <td style="padding-bottom: 2.5pt">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-bottom: 2.5pt"><font style="font-size: 10pt">Exercisable at March 31, 2018</font></td> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: black 2.25pt double; text-align: right">&#160;</td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 10pt">11,034,642</font></td> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: black 2.25pt double"><font style="font-size: 10pt">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 10pt">0.79</font></td> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: black 2.25pt double">&#160;</td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 10pt">3.04</font></td> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: black 2.25pt double"><font style="font-size: 10pt">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 10pt">6,476</font></td> <td style="padding-bottom: 2.5pt">&#160;</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">During the three months ended March 31, 2018, the Company changed the exercise terms of certain of its warrants to allow for and induce a cashless exercise. During the three months ended March 31, 2018, the Company recorded $139 in warrant modification expense due to the modifications.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>&#160;</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><u>Deemed Dividend</u></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>&#160;</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">During the three months ended March 31, 2018, an anti-dilution protection feature in certain of the Company&#8217;s warrants was triggered, causing a decrease in the exercise price of those warrants from $4.50 to $0.40. In accordance with ASC 260-10-25, the Company has recorded a deemed dividend equal to the change in fair value of the warrants due to the decrease in exercise price in the amount of $2,514.</p> 1800000 287000 347000 481000 99000 37000 0.33 1849250 200000 3381816 3311100 375000 3850000 3250000 750000 -1350000 1.42 1.56 1.97 1.29 1.39 6000000 6000000 6000000 0.71 0.71 0.71 1.29 1.29 P4Y4M17D 13720742 11034642 -3686100 1.49 0.79 1.09 0.79 3460000 3460000 427000 474000 -127000 47000 <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>Note 9. Related Party Transactions</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>&#160;</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Janice Dyson, wife of John McAfee, the Company&#8217;s former Chief Cybersecurity Visionary, is the sole director of Future Tense Secure Systems, Inc. (&#8220;FTS&#8221;) and owns 33% of the outstanding common shares of FTS.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">On May 9, 2016, the Company entered a consulting agreement with FTS, pursuant to which FTS would provide advice, consultation, information and services to the Company including assistance with executive management, business and product development and potential acquisitions or related transactions. On January 26, 2018, the Company terminated its agreement with FTS. During the three months ended March 31, 2018 and 2017, the Company recorded consulting fees of $137 and $200, respectively, to FTS for such services. As of March 31, 2018, the Company owed $0 to FTS.</p> 223000 448551 448551 P24M P12M P2Y 3892000 P4Y4M17D P1Y3M4D P3Y15D 894000 1778000 48000 22000 10461000 2261000 13577000 11409000 707000 577000 710000 615000 59000 66000 390736000 395789000 -378900000 -385963000 11895000 9892000 11873000 9870000 59000 390736000 -378900000 11895000 -22000 66000 395789000 -385963000 9892000 -22000 13577000 11409000 4209000 2835000 55000 118000 5192000 3257000 -47000 -313000 -2946000 -4549000 -5891000 -4549000 -4549000 -7063000 -5891000 -7063000 -5825000 139000 139000 139000 886000 -33000 26000 -9000 20000 263000 -551000 72000 -2919000 -1180000 80000 650000 281000 281000 313000 313000 361000 1143000 160000 66000 750000 1050000 600000 11034642 956000 312000 881000 201000 427000 691000 133000 3685000 10198000 10000 10000 P3Y15D 6476000 6476000 58963009 66127626 850000 839000 1000 838000 839000 281000 2000 279000 281000 2224250 3000 -3000 3381816 200000 80000 80000 80000 1704000 1539000 -6500000 26000 6987000 -9058000 -11000 60000 60000 956000 1000000 60000 0.35 0.21 810000 360000000 P3Y 3650000 767000 428000 2376 200 137000 200000 0 1.00 18000 2000 -0.12 -0.20 59482132 29699244 1087000 1000 1086000 1087000 66000 26000 <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><u>Principles of consolidation</u></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>&#160;</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The unaudited condensed consolidated financial statements include the accounts of MGT and its wholly owned subsidiaries. All intercompany transactions and balances have been eliminated. Non-controlling interest represents the non-controlling equity investment in MGT subsidiaries, plus the minority investors&#8217; share of the net operating results and other components of equity relating to the non-controlling interest.</p> <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><u>Use of estimates and assumptions and critical accounting estimates and assumptions</u></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>&#160;</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities as of the date of the financial statements, and also affect the amounts of revenues and expenses reported for each period. Actual results could differ from those which result from using such estimates. Management utilizes various other estimates, including but not limited to determining the estimated lives of long-lived assets, determining the potential impairment of intangibles, the fair value of warrants issued, the fair value of stock options, the fair value of conversion features, the fair value of the deemed dividend, the recognition of revenue, the valuation allowance for deferred tax assets and other legal claims and contingencies. The results of any changes in accounting estimates are reflected in the financial statements in the period in which the changes become evident. Estimates and assumptions are reviewed periodically and the effects of revisions are reflected in the period that they are determined to be necessary.</p> <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><u>Revenue recognition</u></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>&#160;</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The Company recognizes revenue when it is realized or realizable and earned. The Company considers revenue realized or realizable and earned when there is persuasive evidence of an arrangement, delivery has occurred, the sales price is fixed or determinable and collectability is probable. The Company&#8217;s primary revenue stream is related to the mining of digital currencies. The Company derives its revenue by solving &#8220;blocks&#8221; to be added to the blockchain and providing transaction verification services within the digital currency networks of cryptocurrencies, such as Bitcoin and Ethereum, commonly termed &#8220;cryptocurrency mining.&#8221; In consideration for these services, the Company receives digital currency (&#8220;Coins&#8221;). The Coins are recorded as revenue, using the average spot price of Bitcoin on the date of receipt. The Coins are recorded on the balance sheet at their fair value and re&#8211;measured at each reporting date. Costs of revenues includes equipment depreciation, rent, and electricity costs. Revaluation gains or losses, as well gains or losses on sale of Coins are also recorded cost of revenue in the unaudited condensed consolidated statements of operations.</p> <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><u>Income taxes</u></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The Company accounts for income taxes in accordance with Accounting Standards Codification (&#8220;ASC&#8221;) 740, &#8220;Income Taxes&#8221;. ASC 740 requires an asset and liability approach for financial accounting and reporting for income taxes and established for all the entities a minimum threshold for financial statement recognition of the benefit of tax positions, and requires certain expanded disclosures. The provision for income taxes is based upon income or loss after adjustment for those permanent items that are not considered in the determination of taxable income. Deferred income taxes represent the tax effects of differences between the financial reporting and tax basis of the Company&#8217;s assets and liabilities at the enacted tax rates in effect for the years in which the differences are expected to reverse. The Company evaluates the recoverability of deferred tax assets and establishes a valuation allowance when it is more likely than not that some portion or all the deferred tax assets will not be realized. Management makes judgments as to the interpretation of the tax laws that might be challenged upon an audit and cause changes to previous estimates of tax liability. In management&#8217;s opinion, adequate provisions for income taxes have been made. If actual taxable income by tax jurisdiction varies from estimates, additional allowances or reversals of reserves may be necessary.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>&#160;</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The Tax Cuts and Jobs Act (the &#8220;Tax Act&#8221;) was enacted on December 22, 2017. The Tax Act reduces the U.S. federal corporate tax rate from 35% to 21%. As of the completion of these unaudited condensed consolidated financial statements and related disclosures, we have made a reasonable estimate of the effects of the Tax Act. This estimate incorporates assumptions made based upon the Company&#8217;s current interpretation of the Tax Act, and may change as the Company may receive additional clarification and implementation guidance and as the interpretation of the Tax Act evolves. In accordance with the Securities and Exchange Commission (the &#8220;SEC&#8221;) Staff Accounting Bulletin No. 118, the Company will finalize the accounting for the effects of the Tax Act no later than the fourth quarter of 2018. Future adjustments made to the provisional effects will be reported as a component of income tax expense in the reporting period in which any such adjustments are determined. Based on the new tax law that lowers corporate tax rates, the Company revalued its deferred tax assets. Future tax benefits are expected to be lower, with the corresponding one time charge being recorded as a component of income tax expense.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>&#160;</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The Company is currently delinquent in the filing of its U.S. federal and state income tax returns for the years ended December 31, 2016 and 2015. The Company anticipates filing these returns on or before June 30, 2018.</p> <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><u>Loss per share</u></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Basic loss per share is calculated by dividing net loss applicable to common shareholders by the weighted average number of common shares outstanding during the period. Diluted loss per share is calculated by dividing the net loss attributable to common shareholders by the sum of the weighted average number of common shares outstanding plus potential dilutive common shares outstanding during the period. Potential dilutive securities, comprised of unvested restricted shares, convertible debt stock warrants and stock options, are not reflected in diluted net loss per share because such potential shares are anti&#8211;dilutive due to the Company&#8217;s net loss.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Accordingly, the computation of diluted loss per share for the three months ended March 31, 2018 excludes 2,000,000 shares issuable to the investors of the December 2017 private placement, 3,250,000 unvested restricted shares, 6,000,000 shares issuable under stock options, and 10,034,642 shares issuable under warrants. The computation of diluted loss per share for the three months ended March 31, 2017 excludes 1,500,000 unvested restricted shares, 6,000,000 shares issuable under options and 5,375,000 shares issuable under warrants, as they are anti&#8211;dilutive due to the Company&#8217;s net loss.</p> <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><u>Stock&#8211;based compensation</u></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>&#160;</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The Company recognizes compensation expense for all equity&#8211;based payments in accordance with ASC 718 &#8220;Compensation &#8211; Stock Compensation&#8221;. Under fair value recognition provisions, the Company recognizes equity&#8211;based compensation net of an estimated forfeiture rate and recognizes compensation cost only for those shares expected to vest over the requisite service period of the award.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Restricted stock awards are granted at the discretion of the compensation committee of the board of directors of the Company. These awards are restricted as to the transfer of ownership and generally vest over the requisite service periods, typically over a 12 to 24-month period (vesting on a straight&#8211;line basis). The fair value of a stock award is equal to the fair market value of a share of the Company&#8217;s common stock on the grant date.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The fair value of an option award is estimated on the date of grant using the Black&#8211;Scholes option valuation model. The Black&#8211;Scholes option valuation model requires the development of assumptions that are inputs into the model. These assumptions are the expected stock volatility, the risk&#8211;free interest rate, the expected life of the option, the dividend yield on the underlying stock and the expected forfeiture rate. Expected volatility is calculated based on the historical volatility of the Company&#8217;s common stock over the expected term of the option. Risk&#8211;free interest rates are calculated based on continuously compounded risk&#8211;free rates for the appropriate term.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Determining the appropriate fair value model and calculating the fair value of equity&#8211;based payment awards requires the input of the subjective assumptions described above. The assumptions used in calculating the fair value of equity&#8211;based payment awards represent management&#8217;s best estimates, which involve inherent uncertainties and the application of management&#8217;s judgment. The Company is required to estimate the expected forfeiture rate and recognize expense only for those shares expected to vest. The fair value of unvested equity instruments is re-measured each reporting period and such re-measured value is amortized over the requisite remaining service period.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The Company accounts for share&#8211;based payments granted to non&#8211;employees in accordance with ASC 505&#8211;50, &#8220;Equity Based Payments to Non&#8211;Employees.&#8221; The Company determines the fair value of the stock&#8211;based payment as either the fair value of the consideration received or the fair value of the equity instruments issued, whichever is more readily determinable. If the fair value of the equity instruments issued is used, it is measured using the stock price and other measurement assumptions as of the earlier of either (1) the date at which a commitment for performance by the counterparty to earn the equity instruments is reached, or (2) the date at which the counterparty&#8217;s performance is complete.</p> 47000 103000 1620000 7000 <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The following table summarizes information about shares issuable under warrants outstanding at March 31, 2018:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&#160;</p> <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt">&#160;</td> <td style="padding-bottom: 1.5pt">&#160;</td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt">Warrant </font><br /> <font style="font-size: 10pt">shares outstanding</font></td> <td style="padding-bottom: 1.5pt">&#160;</td> <td style="padding-bottom: 1.5pt">&#160;</td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt">Weighted </font><br /> <font style="font-size: 10pt">average</font><br /> <font style="font-size: 10pt">exercise price</font></td> <td style="padding-bottom: 1.5pt">&#160;</td> <td style="padding-bottom: 1.5pt">&#160;</td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt">Weighted average remaining life</font></td> <td style="padding-bottom: 1.5pt">&#160;</td> <td style="padding-bottom: 1.5pt">&#160;</td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt">Intrinsic value</font></td> <td style="padding-bottom: 1.5pt">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 36%"><font style="font-size: 10pt">Outstanding at January 1, 2018</font></td> <td style="width: 1%">&#160;</td> <td style="width: 1%">&#160;</td> <td style="width: 13%; text-align: right"><font style="font-size: 10pt">13,720,742</font></td> <td style="width: 1%">&#160;</td> <td style="width: 1%">&#160;</td> <td style="width: 1%"><font style="font-size: 10pt">$</font></td> <td style="width: 13%; text-align: right"><font style="font-size: 10pt">1.49</font></td> <td style="width: 1%">&#160;</td> <td style="width: 1%">&#160;</td> <td style="width: 1%">&#160;</td> <td style="width: 13%; text-align: right">&#160;</td> <td style="width: 1%">&#160;</td> <td style="width: 1%">&#160;</td> <td style="width: 1%">&#160;</td> <td style="width: 13%; text-align: right">&#160;</td> <td style="width: 1%">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td><font style="font-size: 10pt">Issued</font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font-size: 10pt">-</font></td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font-size: 10pt">Additional warrants issued for trigger of anti-dilution protection</font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font-size: 10pt">1,000,000</font></td> <td>&#160;</td> <td>&#160;</td> <td><font style="font-size: 10pt">$</font></td> <td style="text-align: right"><font style="font-size: 10pt">0.40</font></td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td><font style="font-size: 10pt">Exercised</font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font-size: 10pt">(3,686,100</font></td> <td><font style="font-size: 10pt">)</font></td> <td>&#160;</td> <td><font style="font-size: 10pt">$</font></td> <td style="text-align: right"><font style="font-size: 10pt">1.09</font></td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-bottom: 1.5pt"><font style="font-size: 10pt">Expired or cancelled</font></td> <td style="padding-bottom: 1.5pt">&#160;</td> <td style="border-bottom: black 1.5pt solid; text-align: right">&#160;</td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt">-</font></td> <td style="padding-bottom: 1.5pt">&#160;</td> <td style="padding-bottom: 1.5pt">&#160;</td> <td style="padding-bottom: 1.5pt">&#160;</td> <td style="padding-bottom: 1.5pt; text-align: right">&#160;</td> <td style="padding-bottom: 1.5pt">&#160;</td> <td style="padding-bottom: 1.5pt">&#160;</td> <td style="padding-bottom: 1.5pt">&#160;</td> <td style="padding-bottom: 1.5pt; text-align: right">&#160;</td> <td style="padding-bottom: 1.5pt">&#160;</td> <td style="padding-bottom: 1.5pt">&#160;</td> <td style="padding-bottom: 1.5pt">&#160;</td> <td style="padding-bottom: 1.5pt; text-align: right">&#160;</td> <td style="padding-bottom: 1.5pt">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-bottom: 2.5pt"><font style="font-size: 10pt">Outstanding at March 31, 2018</font></td> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: black 2.25pt double; text-align: right">&#160;</td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 10pt">11,034,642</font></td> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: black 2.25pt double"><font style="font-size: 10pt">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 10pt">0.79</font></td> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: black 2.25pt double">&#160;</td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 10pt">3.04</font></td> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: black 2.25pt double"><font style="font-size: 10pt">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 10pt">6,476</font></td> <td style="padding-bottom: 2.5pt">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-bottom: 2.5pt"><font style="font-size: 10pt">Exercisable at March 31, 2018</font></td> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: black 2.25pt double; text-align: right">&#160;</td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 10pt">11,034,642</font></td> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: black 2.25pt double"><font style="font-size: 10pt">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 10pt">0.79</font></td> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: black 2.25pt double">&#160;</td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 10pt">3.04</font></td> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: black 2.25pt double"><font style="font-size: 10pt">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 10pt">6,476</font></td> <td style="padding-bottom: 2.5pt">&#160;</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> 80000 <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><u>Reclassification</u></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>&#160;</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Certain amounts in prior periods have been reclassified to conform to current period presentation. These reclassifications had no effect on the previously reported net loss.</p> -75000 2514000 -2514000 5000 60000 2514000 <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>Note 4. Sale of Cybersecurity assets</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>&#160;</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">On March 16, 2018, the Company sold its Sentinel product line to a new entity formed by the unit&#8217;s management team for consideration of $60 and a $1,000 promissory note, convertible into a 20% equity interest of the buyer. Due to the early stage nature of the buyer&#8217;s business, the Company believes the collection of the promissory note is doubtful and therefore has determined the fair value to be zero. The Company recorded a loss on sale as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p> <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 76%"><font style="font-size: 10pt">Cash proceeds</font></td> <td style="width: 1%">&#160;</td> <td style="width: 1%"><font style="font-size: 10pt">$</font></td> <td style="width: 21%; text-align: right"><font style="font-size: 10pt">60</font></td> <td style="width: 1%">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font-size: 10pt">Less:</font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-left: 10pt"><font style="font-size: 10pt">Assets sold</font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font-size: 10pt">(27</font></td> <td><font style="font-size: 10pt">)</font></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-left: 10pt"><font style="font-size: 10pt">Separation payments to former management</font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font-size: 10pt">(40</font></td> <td><font style="font-size: 10pt">)</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-bottom: 1.5pt; padding-left: 10pt"><font style="font-size: 10pt">Common stock issued to former management, at fair value</font></td> <td style="padding-bottom: 1.5pt">&#160;</td> <td style="border-bottom: black 1.5pt solid">&#160;</td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt">(120</font></td> <td style="padding-bottom: 1.5pt"><font style="font-size: 10pt">)</font></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-bottom: 2.5pt"><font style="font-size: 10pt">Loss on sale of cybersecurity assets</font></td> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: black 2.25pt double"><font style="font-size: 10pt">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 10pt">(127</font></td> <td style="padding-bottom: 2.5pt"><font style="font-size: 10pt">)</font></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b></b></p> 1003000 The Tax Cuts and Jobs Act (the “Tax Act”) was enacted on December 22, 2017. The Tax Act reduces the U.S. federal corporate tax rate from 35% to 21%. 60000 -27000 -40000 -120000 The User Distribution Portion is 50% of the amount of Bitcoin mined net of the operating fee (10% of the total Bitcoin mined) and the electricity cost. 1302000 1000000 <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>Note 5. Property and Equipment</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>&#160;</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Property and equipment consisted of the following:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&#160;</p> <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt">&#160;</td> <td style="padding-bottom: 1.5pt">&#160;</td> <td colspan="6" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt">As of</font></td> <td style="padding-bottom: 1.5pt">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt">&#160;</td> <td style="padding-bottom: 1.5pt">&#160;</td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt">March 31, 2018</font></td> <td style="padding-bottom: 1.5pt">&#160;</td> <td style="padding-bottom: 1.5pt">&#160;</td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt">December 31, 2017</font></td> <td style="padding-bottom: 1.5pt">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 62%"><font style="font-size: 10pt">Computer hardware and software</font></td> <td style="width: 1%">&#160;</td> <td style="width: 1%"><font style="font-size: 10pt">$</font></td> <td style="width: 16%; text-align: right"><font style="font-size: 10pt">10</font></td> <td style="width: 1%">&#160;</td> <td style="width: 1%">&#160;</td> <td style="width: 1%"><font style="font-size: 10pt">$</font></td> <td style="width: 16%; text-align: right"><font style="font-size: 10pt">10</font></td> <td style="width: 1%">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-bottom: 1.5pt"><font style="font-size: 10pt">Crypto-currency mining machines</font></td> <td style="padding-bottom: 1.5pt">&#160;</td> <td style="border-bottom: black 1.5pt solid">&#160;</td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt">10,198</font></td> <td style="padding-bottom: 1.5pt">&#160;</td> <td style="padding-bottom: 1.5pt">&#160;</td> <td style="border-bottom: black 1.5pt solid">&#160;</td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt">3,685</font></td> <td style="padding-bottom: 1.5pt">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-left: 10pt"><font style="font-size: 10pt">Property and equipment, gross</font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font-size: 10pt">10,208</font></td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font-size: 10pt">3,695</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-bottom: 1.5pt"><font style="font-size: 10pt">Less: Accumulated depreciation</font></td> <td style="padding-bottom: 1.5pt">&#160;</td> <td style="border-bottom: black 1.5pt solid">&#160;</td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt">(1,060</font></td> <td style="padding-bottom: 1.5pt"><font style="font-size: 10pt">)</font></td> <td style="padding-bottom: 1.5pt">&#160;</td> <td style="border-bottom: black 1.5pt solid">&#160;</td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt">(579</font></td> <td style="padding-bottom: 1.5pt"><font style="font-size: 10pt">)</font></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-bottom: 2.5pt; padding-left: 10pt"><font style="font-size: 10pt">Property and equipment, net</font></td> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: black 2.25pt double"><font style="font-size: 10pt">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 10pt">9,148</font></td> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: black 2.25pt double"><font style="font-size: 10pt">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 10pt">3,116</font></td> <td style="padding-bottom: 2.5pt">&#160;</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The Company recorded depreciation expense of $481 and $99 for the three months ended March 31, 2018 and 2017, respectively.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">During the three months ended March 31, 2018, the Company sold Bitcoin machines with an aggregate book value of $474 for gross proceeds of $427 and recorded a loss on sale of $47.</p> <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>Note 8. Commitments and Contingencies</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><u>Operating Commitments</u></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>&#160;</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">On December 7, 2017 and January 9, 2018, the Company entered into agreements with Beacon Leasing LLC, a Florida limited liability company (&#8220;Beacon&#8221;) whereby Beacon has agreed to lease their facility in Sweden to the Company for purposes of its mining operations and provide 15 mega watts of uninterrupted power. The agreement is for a term of 24 months for a fee of $810 per month. The Company prepaid the first and last month of service in the amount of $1,620.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>&#160;</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><u>Management Agreements</u></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">On October 12, 2017, MGT entered into two management agreements with two accredited investors, Deep South Mining LLC and BDLM, LLC. On November 21, 2017, the Company entered into a third management agreement with another accredited investor, Buckhead Crypto, LLC (&#8220;Buckhead Crypto&#8221;) (all three accredited investors together are &#8220;Users&#8221;, each agreement a &#8220;Management Agreement&#8221;, and all three agreements together are &#8220;Management Agreements&#8221;). Each of the Users agreed on substantially similar terms to purchase an aggregate of 2,376 Bitmain Antminer S9 mining computers (the &#8220;Bitcoin Hardware&#8221;) for a total of $3,650 to mine Bitcoin with the Company acting as the exclusive manager for each of the Users. In addition, the Users have agreed to pay to the Company, in advance, the first three months of expected electricity costs of the Bitcoin mining operations in the sum of $691, which is included in Other Payables on the Company&#8217;s consolidated balance sheet as of December 31, 2017. Initial electricity cost for the first three months following delivery of the Bitcoin Hardware shall be reimbursed to the Users within the first three months of operation. Each Management Agreement is in effect for 24 months from the date that the Bitcoin Hardware begins mining operations, and may be terminated by mutual written agreement.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Pursuant to the Management Agreements, the Company shall provide for installation, hosting, maintenance and repair and provide ancillary services necessary to operate the Bitcoin Hardware. In accordance with each of the Management Agreements, each of the Users will gain a portion of the Bitcoin mined called the User Distribution Portion. The User Distribution Portion is 50% of the amount of Bitcoin mined net of the operating fee (10% of the total Bitcoin mined) and the electricity cost.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Furthermore, upon execution of the Management Agreements, as an incentive to the Users, the Company issued to the Users an aggregate of 436,100 shares of the Company&#8217;s common stock and a Series F warrant to purchase 436,100 shares of the Company&#8217;s common stock at an initial exercise price of $2.00 per share exercisable for a period of three years to the Users. The Company issued the shares of common stock and issued all three Series F warrants for the benefits of the three Users on the respective dates of the execution of the Management Agreements.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">On February 28, 2018, the Company and Buckhead Crypto terminated their Management Agreement. The Company agreed to purchase the Bitcoin mining machines for $767 and to refund prepaid electricity paid by Buckhead Crypto of $133.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">On February 13, 2018, the Company entered into a new management agreement with a third party with terms similar to the other Management Agreements. The third party agreed to purchase 200 Bitmain Antminer S9 mining computers for a total of $428 to mine Bitcoin with the Company acting as the exclusive manager. This management agreement is in effect for 24 months from the date that the Bitcoin Hardware begins mining operations, and may be terminated by mutual written agreement.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>&#160;</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><u>Legal</u></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">In September 2016, various shareholders in the Company filed putative class action lawsuits against the Company, its president and certain of its individual officers and directors. The cases were filed in the United States District Court for the Southern District of New York (the &#8220;Court&#8221;) and alleged violations of federal securities laws and seek damages. On April 11, 2017 those cases were consolidated into a single action (the &#8220;Securities Action&#8221;) and two individual shareholders were appointed lead plaintiffs by the Court. On June 30, 2017, the lead plaintiffs filed an amended complaint.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">On August 29, 2017, the defendants moved to dismiss the amended complaint, which the plaintiffs opposed on October 13, 2017. On November 3, 2017, the defendants filed a reply brief in further support of their motion to dismiss the amended complaint. The Court heard oral argument on the motion to dismiss on February 7, 2018. On February 28, 2018, the Court entered a judgment dismissing the case in its entirety, with prejudice, and on March 30, 2018, the time expired for plaintiffs to file a notice of appeal of the Court&#8217;s judgment.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">On January 24, 2017, the Company was served with a copy of a summons and complaint filed by plaintiff Atul Ojha in New York state court against certain officers and directors of the Company and the Company as a nominal defendant. The lawsuit is styled as a derivative action (the &#8220;Derivative Action&#8221;) and was originally filed (but not served on any defendant) on October 15, 2016. The Derivative Action substantively alleges that the defendants, collectively or individually, inadequately managed the business and assets of the Company resulting in the deterioration of the Company&#8217;s financial condition. The Derivative Action asserts claims including but not limited to breach of fiduciary duties, unjust enrichment and waste of corporate assets. On February 27, 2017, the parties to the Derivative Action executed a stipulated stay of proceedings pending full or partial resolution of the Securities Action. Shortly after issuance of the February 28, 2018 ruling dismissing the Securities Action, the parties to the Derivative Action agreed to extend the stay indefinitely, with the plaintiff having the option to vacate the stay on thirty days&#8217; notice. Should the plaintiff seek to vacate the stay, the Company will address the Derivative Action.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>&#160;</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">On March 3, 2017 and April 4, 2017 respectively, two additional actions were filed against the Company by a former shareholder Barry Honig (&#8220;Honig&#8221;). The first action was filed in federal court in North Carolina (the &#8220;North Carolina Action&#8221;) against the Company and its president and alleges claims for libel, slander, conspiracy, interference with prospective economic advantage, and unfair trade practices. The North Carolina Action substantively alleges that the defendants defamed Honig by causing or allowing certain statements to be published about Honig in news blogs and articles authored by a journalist, who is also a defendant in the case. On June 5, 2017, the Company filed a motion to dismiss the lawsuit, and on July 17, 2017 the plaintiff filed on opposition brief to the motion to dismiss. The Company filed its reply on August 18, 2017. On August 24, 2017, the court in North Carolina Action issued an order granting in part and denying in part the motion to dismiss. On January 3, 2018, the parties signed a settlement stipulation in which the North Carolina Action was withdrawn with prejudice. The court in the North Carolina Action thereafter dismissed the case on January 18, 2018.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The second action was brought by Honig and others in the Court (the &#8220;Breach of Contract Action&#8221;) against the Company and certain of its officers and directors. The Breach of Contract Action alleges claims for breach of contract, tortious interference with contractual relations, and unjust enrichment related to the Company&#8217;s unsuccessful attempt to acquire D&#8211;Vasive, Inc. (&#8220;D-Vasive&#8221;) and Demonsaw LLC (&#8220;Demonsaw&#8221;) in 2016 and the alleged resulting harm to certain D&#8211;Vasive, and Demonsaw LLC noteholders. The defendants filed a motion to dismiss on June 5, 2017, but after the plaintiffs filed an amended complaint on June 26, 2017, the defendants filed a motion to dismiss that complaint on July 24, 2017. On March 19, 2018, the Court issued a Memorandum Opinion &#38; Order dismissing the breach of contract and tortious interference claims, but permitting the unjust enrichment claim to proceed. On April 2, 2018, the defendants filed a motion asking the Court to reconsider its decision to permit the unjust enrichment claim to proceed. On April 16, 2018, the plaintiffs filed their opposition to that motion, and on April 23, the defendants filed their reply. Additionally, on April 30, the Court issued a civil case management plan and scheduling order setting deadlines for discovery in the action. Should the reconsideration motion be denied, the Company and its officers and directors believe that they have meritorious defenses against the remaining claim and intend to defend that claim vigorously.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The Company believes that there is little merit to each of the above actions and has no indication or reason to believe that it is or will be liable for any alleged wrongdoing. The Company is consulting with its counsel to determine the appropriate legal strategy but intends to defend against the remaining actions vigorously. The Company cannot presently rule out that adverse developments in one or more of the above actions could have a materially adverse effect on the Company, its financial position or future results of operations, and has notified its director&#8217;s and officer&#8217;s liability insurance carrier.</p> <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>Note 10. Employee Benefit Plans</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>&#160;</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The Company maintains defined contribution benefit plans under Section 401(k) of the Internal Revenue Code covering substantially all qualified employees of the Company (the &#8220;401(k) Plan&#8221;). Under the 401(k) Plan, the Company may make discretionary contributions of up to 100% of employee contributions. During the three months ended March 31, 2018 and 2017, the Company made contributions to the 401(k) Plan of $18 and $2, respectively.</p> <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><u>Recent accounting pronouncements</u></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>&#160;</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Management does not believe that any recently issued, but not yet effective accounting pronouncements, when adopted, will have a material effect on the accompanying unaudited condensed consolidated financial statements, other than those disclosed in the Company&#8217;s Annual Report on Form 10-K, filed with the SEC on April 2, 2018.</p> <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><u>Management&#8217;s Evaluation of Subsequent Events</u></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The Company evaluates events that have occurred after the balance sheet date but before the financial statements are issued. Based upon the review, other than what is described in Note 11 &#8211; Subsequent Events, the Company did not identify any recognized or non-recognized subsequent events that would have required adjustment or disclosure in the unaudited condensed consolidated financial statements.</p> <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The Company recorded a loss on sale as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p> <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 76%"><font style="font-size: 10pt">Cash proceeds</font></td> <td style="width: 1%">&#160;</td> <td style="width: 1%"><font style="font-size: 10pt">$</font></td> <td style="width: 21%; text-align: right"><font style="font-size: 10pt">60</font></td> <td style="width: 1%">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font-size: 10pt">Less:</font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-left: 10pt"><font style="font-size: 10pt">Assets sold</font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font-size: 10pt">(27</font></td> <td><font style="font-size: 10pt">)</font></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-left: 10pt"><font style="font-size: 10pt">Separation payments to former management</font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font-size: 10pt">(40</font></td> <td><font style="font-size: 10pt">)</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-bottom: 1.5pt; padding-left: 10pt"><font style="font-size: 10pt">Common stock issued to former management, at fair value</font></td> <td style="padding-bottom: 1.5pt">&#160;</td> <td style="border-bottom: black 1.5pt solid">&#160;</td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt">(120</font></td> <td style="padding-bottom: 1.5pt"><font style="font-size: 10pt">)</font></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-bottom: 2.5pt"><font style="font-size: 10pt">Loss on sale of cybersecurity assets</font></td> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: black 2.25pt double"><font style="font-size: 10pt">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 10pt">(127</font></td> <td style="padding-bottom: 2.5pt"><font style="font-size: 10pt">)</font></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b></b></p> 120000 120000 120000 60000 2514000 436100 2.00 2018 The Company mined 91.5 Bitcoin MGT owned and operated approximately 500 miners located in a leased facility in Quincy, Washington and 4,200 miners located in a leased facility in Sweden. In addition, the Company operates about 2,100 miners in the Sweden location pursuant to management agreements. All miners owned or managed by MGT are S9 Antminers sold by Bitmain Technologies LTD. At full deployment expected in May 2018, our total Bitcoin mining capacity, as measured by computational hashing rate, will be approximately 90 petahash per second (“PH/s”). In addition to the S9 Antminers, the Company owns 50 custom designed GPU-based Ethereum mining rigs. 70250626 The Company’s stockholders approved a 1-for-2 reverse split of the Company’s common stock, to be effected only if needed for the Company’s application to uplist its common stock to a national exchange. 1000000 0.40 4.50 0.40 625000 625000 <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><u>Equity-linked instruments</u></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The Company accounts for equity-linked instruments with certain anti-dilution provisions in accordance with ASC 815 and ASC 260. Under this guidance, the Company excludes instruments with certain down round features when determining whether a financial instrument (or embedded conversion feature) is considered indexed to the Company&#8217;s own stock. As a result, financial instruments (or embedded conversion features) with down round features are not required to be classified as derivative liabilities. The Company recoognizes the value of a down round feature only when it is triggered and the exercise or conversion price has been adjusted downward. For equity-classified freestanding financial instruments, such as warrants, the Company treats the value of the effect of the down round, when triggered, as a deemed dividend and a reduction of income available to common stockholders in computing basic earnings per share. For convertible instruments with embedded conversion features containing down round provisions, the Company recognizes the value of the down round as a beneficial conversion discount to be amortized to earnings.</p> 26000 EX-101.SCH 6 mgti-20180331.xsd XBRL SCHEMA FILE 00000001 - Document - Document And Entity Information link:presentationLink link:calculationLink link:definitionLink 00000002 - Statement - Condensed Consolidated Balance Sheets link:presentationLink link:calculationLink link:definitionLink 00000003 - Statement - Condensed Consolidated Balance Sheets (Parenthetical) link:presentationLink link:calculationLink link:definitionLink 00000004 - Statement - Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) link:presentationLink link:calculationLink link:definitionLink 00000005 - Statement - Condensed Consolidated Statement of Changes in Stockholders' Equity (Unaudited) link:presentationLink link:calculationLink link:definitionLink 00000006 - Statement - Condensed Consolidated Statements of Cash Flows (Unaudited) link:presentationLink link:calculationLink link:definitionLink 00000007 - Disclosure - Organization and Basis of Presentation link:presentationLink link:calculationLink link:definitionLink 00000008 - Disclosure - Going Concern and Management's Plans link:presentationLink link:calculationLink link:definitionLink 00000009 - Disclosure - Summary of Significant Accounting Policies link:presentationLink link:calculationLink link:definitionLink 00000010 - Disclosure - Sale of Cybersecurity Assets link:presentationLink link:calculationLink link:definitionLink 00000011 - Disclosure - Property and Equipment link:presentationLink link:calculationLink link:definitionLink 00000012 - Disclosure - Common Stock and Warrant Issuances link:presentationLink link:calculationLink link:definitionLink 00000013 - Disclosure - Stock-Based Compensation link:presentationLink link:calculationLink link:definitionLink 00000014 - Disclosure - Commitments and Contingencies link:presentationLink link:calculationLink link:definitionLink 00000015 - Disclosure - Related Party Transactions link:presentationLink link:calculationLink link:definitionLink 00000016 - Disclosure - Employee Benefit Plans link:presentationLink link:calculationLink link:definitionLink 00000017 - Disclosure - Subsequent Events link:presentationLink link:calculationLink link:definitionLink 00000018 - Disclosure - Summary of Significant Accounting Policies (Policies) link:presentationLink link:calculationLink link:definitionLink 00000019 - Disclosure - Sale of Cybersecurity Assets (Tables) link:presentationLink link:calculationLink link:definitionLink 00000020 - Disclosure - Property and Equipment (Tables) link:presentationLink link:calculationLink link:definitionLink 00000021 - Disclosure - Common Stock and Warrant Issuances (Tables) link:presentationLink link:calculationLink link:definitionLink 00000022 - Disclosure - Stock-Based Compensation (Tables) link:presentationLink link:calculationLink link:definitionLink 00000023 - Disclosure - Organization and Basis of Presentation (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 00000024 - Disclosure - Going Concern and Management's Plans (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 00000025 - Disclosure - Summary of Significant Accounting Policies (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 00000026 - Disclosure - Sale of Cybersecurity Assets (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 00000027 - Disclosure - Sale of Cybersecurity Assets - Schedule of Loss on Sale of Cybersecurity Assets (Details) link:presentationLink link:calculationLink link:definitionLink 00000028 - Disclosure - Property and Equipment (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 00000029 - Disclosure - Property and Equipment - Schedule of Property, Plant and Equipment (Details) link:presentationLink link:calculationLink link:definitionLink 00000030 - Disclosure - Common Stock and Warrant Issuances (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 00000031 - Disclosure - Common Stock and Warrant Issuances - Summary of Warrant Outstanding (Details) link:presentationLink link:calculationLink link:definitionLink 00000032 - Disclosure - Stock-Based Compensation (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 00000033 - Disclosure - Stock-Based Compensation - Schedule of Restricted Common Stock Activity (Details) link:presentationLink link:calculationLink link:definitionLink 00000034 - Disclosure - Stock-Based Compensation - Schedule of Stock Options Activity (Details) link:presentationLink link:calculationLink link:definitionLink 00000035 - Disclosure - Commitments and Contingencies (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 00000036 - Disclosure - Related Party Transactions (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 00000037 - Disclosure - Employee Benefit Plans (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 00000038 - Disclosure - Subsequent Events (Details Narrative) link:presentationLink link:calculationLink link:definitionLink EX-101.CAL 7 mgti-20180331_cal.xml XBRL CALCULATION FILE EX-101.DEF 8 mgti-20180331_def.xml XBRL DEFINITION FILE EX-101.LAB 9 mgti-20180331_lab.xml XBRL LABEL FILE Class Of Stock [Axis] Undesignated Preferred Stock [Member] Series A Convertible Preferred Stock [Member] Equity Components [Axis] Warrant [Member] Antidilutive Securities [Axis] Unvested Restricted Stock [Member] Stock Option [Member] Options [Member] Award Type [Axis] Restricted Stock [Member] Title of Individual [Axis] Employee and Director [Member] Income Statement Location [Axis] Selling General and Administrative Expenses [Member] Sale of Stock [Axis] December 2017 Private Placement [Member] Property, Plant and Equipment, Type [Axis] Bitcoin Machines [Member] Legal Entity [Axis] FTS [Member] Common Stock [Member] Additional Paid-In Capital [Member] Accumulated Deficit [Member] Total Equity Attributable to MGT Stockholders [Member] Non-controlling Interest [Member] Range [Axis] Minimum [Member] Maximum [Member] Short-term Debt, Type [Axis] Promissory Note [Member] Type of Arrangement and Non-arrangement Transactions [Axis] Two Management Agreements [Member] Plan Name [Axis] 401(k) Plan [Member] Geographical [Axis] Quincy [Member] Report Date [Axis] May 8, 2018 [Member] Subsequent Event Type [Axis] Subsequent Event [Member] Related Party [Axis] Consultants [Member] Investor [Member] Former Noteholder [Member] Mr. Robert Lowrey [Member] Beacon Leasing LLC [Member] Lease Arrangement, Type [Axis] 24 Months [Member] First and Last Month [Member] Buckhead Crypto [Member] Management Agreement Termination [Member] Third Party [Member] Other Management Agreement [Member] Amended and Restated Executive Employment Agreement [Member] Mr. Ladd [Member] 2016 Stock Option Plan [Member] Series F Warrant [Member] Document And Entity Information Entity Registrant Name Entity Central Index Key Document Type Document Period End Date Amendment Flag Current Fiscal Year End Date Entity Filer Category Entity Common Stock, Shares Outstanding Trading Symbol Document Fiscal Period Focus Document Fiscal Year Focus Statement [Table] Statement [Line Items] Class of Stock [Axis] Assets Current assets Cash and cash equivalents Prepaid expenses and other current assets Digital currencies Total current assets Non-current assets Property and equipment, net Total assets Liabilities and Stockholders' Equity Current liabilities Accounts payable Accrued expenses Other payables Total current liabilities Commitments and Contingencies Redeemable convertible preferred stock - temporary equity Preferred stock, Series A Convertible Preferred, $0.001 par value, 83,840 shares authorized at March 31, 2018 and December 31, 2017. No shares issued or outstanding at March 31, 2018 and December 31, 2017. Stockholders' Equity Undesignated preferred stock, $0.001 par value, 8,500,000 shares authorized at March 31, 2018 and December 31, 2017. No shares issued or outstanding at March 31, 2018 and December 31, 2017 Common stock, $0.001 par value; 125,000,000 shares authorized; 66,127,626 and 58,963,009 shares issued and outstanding at March 31, 2018 and December 31, 2017, respectively. Additional paid-in capital Accumulated deficit Total equity attributable to MGT stockholders Non-controlling interest Total equity Total liabilities, stockholders' equity, redeemable convertible preferred stock and non-controlling interest Preferred stock, par value Preferred stock, shares authorized Preferred stock, shares outstanding Preferred stock, shares issued Common stock, par value Common stock, shares authorized Common stock, shares issued Common stock, shares outstanding Income Statement [Abstract] Revenue Operating expenses Cost of revenue General and administrative Sales and marketing Research and development Total operating expenses Operating loss Other non-operating expense Interest expense Warrant modification expense Loss on sale of cyber security assets Loss on sale of property and equipment Impairment/loss on sale of investments Total other non-operating expenses Net loss Deemed dividend Net loss attributable to common stockholders Other comprehensive loss Reclassification adjustment for comprehensive loss included in net loss Comprehensive loss Per-share data Basic and diluted loss per share Weighted average number of common shares outstanding Balance Balance, shares Stock-based compensation Stock-based compensation, shares Stock issued for services Stock issued for services, shares Stock issued for prior year notes payable conversion Stock issued for prior year notes payable conversion, shares Stock sold in connection with private placements Stock sold in connection with private placements,shares Exercise of warrants Exercise of warrants, shares Stock issued in disposition of cyber security assets Stock issued in disposition of cyber security assets, shares Warrant modification expense Deemed dividend Net loss Balance Balance, shares Statement of Cash Flows [Abstract] Cash Flows From Operating Activities Adjustments to reconcile net loss to net cash used in operating activities Depreciation Amortization of intangible assets Stock-based compensation expense Loss on sale of property and equipment Loss on sale of cybersecurity assets Impairment/loss on sale of investments Accretion of debt discount Change in operating assets and liabilities Prepaid expenses and other current assets Digital currencies Accounts payable Accrued expenses Other payables Net cash used in operating activities Cash Flows From Investing Activities Purchase of property and equipment Proceeds from sale of cyber security unit Proceeds from sale of property and equipment Proceeds from sale of investments Net cash (used in) provided by investing activities Cash Flows From Financing Activities Proceeds from private placements of common stock Proceeds from issuance of convertible notes payable and warrants, net Proceeds from exercise of warrants Net cash provided by financing activities Net change in cash and cash equivalents Cash and cash equivalents, beginning of period Cash and cash equivalents, end of period Supplemental disclosure of cash flow information Cash paid for interest Cash paid for income tax Non-cash investing and financing activities Conversion of convertible debt and accrued interest Issuance of L2 commitment note Deemed dividend on trigger of down round provision Reclassification adjustment upon sale of available for sale investment in net loss Stock issued for services not yet rendered Organization, Consolidation and Presentation of Financial Statements [Abstract] Organization and Basis of Presentation Going Concern and Management's Plans Accounting Policies [Abstract] Summary of Significant Accounting Policies Sale Of Cybersecurity Assets Sale of Cybersecurity Assets Property, Plant and Equipment [Abstract] Property and Equipment Equity [Abstract] Common Stock and Warrant Issuances Disclosure of Compensation Related Costs, Share-based Payments [Abstract] Stock-Based Compensation Commitments and Contingencies Disclosure [Abstract] Commitments and Contingencies Related Party Transactions [Abstract] Related Party Transactions Retirement Benefits [Abstract] Employee Benefit Plans Subsequent Events [Abstract] Subsequent Events Principles of Consolidation Reclassification Use of Estimates and Assumptions and Critical Accounting Estimates and Assumptions Revenue Recognition Income Taxes Loss Per Share Stock-Based Compensation Equity-linked Instruments Recent Accounting Pronouncements Management's Evaluation of Subsequent Events Sale Of Cybersecurity Assets Tables Schedule of Loss on Sale of Cybersecurity Assets Schedule of Property, Plant and Equipment Summary of Warrant Outstanding Schedule of Restricted Common Stock Activity Schedule of Stock Options Activity Organization, Consolidation and Presentation of Financial Statements Disclosure [Table] Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items] Common stock reverse split Description on Cryptocurrency mining Revenue on mining Sale of asset in consideration Conversion convertible interest percentage Accumulated deficit Summary Of Significant Accounting Policies [Table] Summary Of Significant Accounting Policies [Line Items] Income tax examination, description Effective U.S. federal corporate tax rate Antidilutive securities excluded from computation of earnings per share, amount Convertible interest percentage of equity interest Sale Of Cybersecurity Assets - Schedule Of Loss On Sale Of Cybersecurity Assets Details Cash proceeds Less: Assets sold Less: Separation payments to former management Less: Common stock issued to former management, at fair value Loss on sale of cybersecurity assets Depreciation expense Book value machines Proceeds from sale of machinery Gain on sale of machines Computer hardware and software Crypto-currency mining machines Property and equipment, gross Less: Accumulated depreciation Property and equipment, net Number of common stock shares issued during the period Common stock shares issued during period, value Proceeds from warrants exercises Warrant exercisable shares Number of common stock shares issued for services Value of common stock shares issued for services Decrease of exercise price of warrants due to anti-dilution protection Deemed dividend Warrants outstanding, beginning Warrants outstanding, issued Warrants outstanding, additional warrants issued for trigger of anti-dilution protection Warrants outstanding, exercised Warrants outstanding, expired or cancelled Warrants outstanding, ending Warrants exercisable, ending Weighted average exercise price, beginning Weighted average exercise price, issued Weighted average exercise price, additional warrants issued for trigger of anti-dilution protection Weighted average exercise price, exercised Weighted average exercise price, expired Weighted average exercise price, ending Weighted average exercise price exercisable, ending Weighted average remaining life, outstanding Weighted average remaining life, exercisable Intrinsic value outstanding, ending Intrinsic value exercisable, ending Schedule of Share-based Compensation Arrangements by Share-based Payment Award [Table] Share-based Compensation Arrangement by Share-based Payment Award [Line Items] Debt Instrument [Axis] Stock granted during period restricted shares Stock option vesting period Stock based compensation Unamortized stock-based compensation costs Share based compensation of weighted average period term Unrecognized compensation costs related to non-vested stock options Number of Shares Non-vested, Beginning Balance Number of Shares, Granted Number of Shares, Vested Number of Shares, Forfeited Number of Shares Non-vested, Ending Balance Weighted Average Grant Date Fair Value Non-vested, Beginning Balance Weighted Average Grant Date Fair Value, Granted Weighted Average Grant Date Fair Value, Vested Weighted Average Grant Date Fair Value, Forfeited Weighted Average Grant Date Fair Value Non-vested, Ending Balance Options Outstanding, Beginning Balance Options Outstanding, Granted Options Outstanding, Exercised Options Outstanding, Forfeited/cancelled Options Outstanding, Ending Balance Options Exercisable, Ending Balance Weighted Average Exercise Price Outstanding, Beginning Balance Weighted Average Exercise Price Outstanding, Granted Weighted Average Exercise Price Outstanding, Exercised Weighted Average Exercise Price Outstanding, Forfeited/cancelled Weighted Average Exercise Price Outstanding, Ending Balance Weighted Average Exercise Price Exercisable, Ending Balance Weighted Average Grant Date Fair Value Outstanding, Beginning Balance Weighted Average Grant Date Fair Value Outstanding, Ending Balance Weighted Average Grant Date Fair Value Exercisable, Ending Balance Weighted Average Remaining Life Outstanding, Ending Balance Weighted Average Remaining Life Exercisable, Ending Balance Intrinsic Value Outstanding, Ending Balance Intrinsic Value Exercisable, Ending Balance Operating Leases Commitments And Security Deposit [Table] Operating Leases Commitments And Security Deposit [Line Items] Monthly rent Services cost Number of bitcoin mining machines purchased Purchase of assets Cash paid advance User distribution portion description Number of common stock purchase during period Initial exercise price Common stock option exercisable period Outstanding shares of common stock ownership percentage Consulting fees Due to related party Employee contribution percentage Employee contribution amount Stock issued during period restricted shares Stock issued during period restricted value Officers compensation Stock issued during period exchange for cashless exercise of warrants Warrants to purchase common stock ATM Agreement [Member] Accredited Investors [Member] Asset purchase agreement [Member]. August 2017 Note [Member] August 2017 Notes [Member] August 2017 Notes [Member] August 2016 Notes [Member] Bitcoin Machines [Member] Bitcoin Mining [Member] Bitmain Technologies Limited [Member] Carrying Value [Member] Commitment Note [Member] Common stock option exercisable period. Consultants [Member] Conventional Notes Payable [Member] Convertible Notes [Member] Crypto-Currency Machines [Member] Crypto Currency Mining [Member] Cyberdonix, Inc [Member] Cybersecurity [Member] DDGG Common Shares [Member] DDGG [Member] DDGG Stock Purchase Warrants Received [Member] D-Vasive Inc [Member] Demonsaw LLC [Member] Digital currencies. Digital Currencies [Member] Directors, Officers and Employees [Member] Domestic Tax [Member] DraftDay.com [Member] Investments DDGG [Member] 8% Convertible Notes [Member] Employee and Director [Member]. Employees [Member] Employement Agreement [Member] Equity Purchase Agreement [Member ] Equity Purchase Agreement [Member] Equity Purchase Agreement [Member] Securities Exchange Agreement [Member] FNCX Common Shares [Member ] FNCX June 14th Agreement [Member] FNCX March 24th Agreement [Member] FNCX March 24th Agreement [Member] FNCX [Member] FNCX Note [Member] FNCX Preferred Shares [Member] FTS [Member] Federal CapitalTax [Member] Federal Tax [Member] First Note and Second Note [Member] First Note [Member] First 12 Month Period [Member] 401(k) Plan [Member] Gaming and intellectual property [Member]. Gaming [Member] Gioia Systems, LLC [Member] Hash The Planet [Member] Iliad Note [Member] Iliad Research and Trading, L.P [Member] Iliad Settlement Agreement [Member] Increase Decrease In Digital Currencies Bitcoins. Initial exercise price. Intangible Assets [Member] Investments - FNCX Common Shares [Member] Investors [Member] Issuance of commitment note. January 26, 2018[Member] L2 Capital, LLC [Member] L2 Collateralized Note [Member] L2 Commitment Note [Member] L2 Front End Note [Member] M2P Americas [Member] MGT Interactive [Member] MGT Sports, Inc [Member] Management Agreement Termination [Member] On March 8, 2018 [Member] March 2017 Securities Purchase Agreement [Member] March 2017 Equity Purchase Agreement [Member] Maximum of the Lesser[Member] May 2017 Note [Member] May 2017 Notes [Member] Mr. Ladd [Member] Mr. Lowrey [Member] Mr. McAfee [Member] Munich Innovations GmbH [Member] Notes Payable [Member] Number of bitcoin mining machines purchased. Number of common stock purchase during period. One Third of Warrant One[Member] One Third of Warrant Three [Member] One Third of Warrant Two[Member] Operating Leases Commitments And Security Deposit LineItems. Operating Leases Commitments And Security Deposit Table. Option Shares [Member] Options [Member] Organization Consolidation And Presentation Of Financial Statements Disclosure LineItems. Organization Consolidation And Presentation Of Financial Statements Disclosure Table. Private Placement [Member] Promissory Note [Member] Purchase Agreement [Member] Reclassification adjustment upon sale of available for sale investments into net loss. Remaining Months Until Expiration of Lease [Member] Round House LLC [Member] Second Note [Member] Second 12 Month Period [Member] Second Warrant Shares [Member] Secured Convertible Note [Member] Securities Purchase Agreement [Member] Securities Purchase Agreements [Member] Security Purchase Agreement [Member] September 2017 Note [Member] September 2017 Note [Member] September 2017 Notes [Member] Series A Convertible Preferred Stock [Member] Series A Warrant [Member] Series B Warrant [Member] Series C Warrant [Member] Series D Convertible Preferred Stock [Member] Series F Warrant [Member] Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Option Exercised Nonvested Weighted Average Exercise Price. Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Option Expired Nonvested Weighted Average Exercise Price. Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Option issued Nonvested Weighted Average Exercise Price. Share Based Compensation Arrangement By Share Based Payment Awar Equity Instruments Other Than Options Exercisable In Period. Share Based Compensation Arrangement By Share Based Payment Awar Equity Instruments Other Than Options Exercised In Period. Weighted average exercise price exercisable ending. Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Exercise Price. Weighted average remaining contractual term exercisable for equity-based awards excluding options, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Weighted average grant date fair value exercisable, ending balance. Weighted average grant date fair value outstanding, ending balance. Intrinsic Value exercisable. Sharebased Compensation Arrangement By Sharebased Payment Award Equity Instruments Warrants Weigthed Average Aggregate Intrinsic Value. Sportech, Inc [Member] Stock Issued During Period Value Stock Warrant Exercised, shares. Stock Issued During Period Value Stock Warrant Exercised. Stock sold in connection with private placements. Stock sold in connection with private placements,shares. Sublease Agreement [Member] Subscription Agreement [Member] Summary Of Significant Accounting Policies LineItems. Summary ofSignificant Accounting Policies Table. 10% Convertible Promissory Note [Member] 10% Convertible Promissory Notes [Member] November 10, 2017 [Member] TeraExchange, LLC [Member] There After Months Until Expiration of Lease [Member] Third 12 Month Period [Member] 12&amp;#8211;month agreement [Member] Two Investors [Member] Two Management Agreements [Member] Two Minute Quests LLC [Member UAHC Note [Member] UAHC Ventures, LLC [Member] Unallocated Corporate Other [Member] Unamortized stock-based compensation costs. Undesignated Preferred Stock [Member] Unregistered Common Stock [Member] Unvested Restricted Stock [Member]. User distribution portion description. Viggle Inc [Member] Warrant modification expense. Year One [Member] Year Three [Member] Year Two [Member] Common Stock One [Member] Wenatchee Valley [Member] Quincy [Member] Conversion of Convertible Notes [Member] Third Party [Member] August 2016 Notes [Member] Issuance of Convertible Notes Payable [Member] Amortization of Debt Discount [Member] Conversion of Convertible Notes Payable [Member] Proceeds from sale of cyber security unit. Deemed dividend on trigger of down round provision. Sale of Cybersecurity Assets [Text Block] Schedule of Loss On Sale of Cybersecurity Assets [Table Text Block] Cash proceeds Assets sold. Separation payments to former management. Common stock issued to former management, at fair value. Former Noteholder [Member] Mr. Robert Lowrey [Member] Beacon Leasing LLC [Member] 24 Months [Member] First and Last Month [Member] Buckhead Crypto [Member] Other Management Agreement [Member] Amended and Restated Executive Employment Agreement [Member] 2016 Stock Option Plan [Member] Stock issued during period exchange for cashless exercise of warrants. December twothousand seven teen private placement [Member] Description on Cryptocurrency mining. May 8, 2018 [Member] Share Based Compensation Arrangement by Share Based Payment Award Equity Instruments Other Than Options Additional Warrants Issued for Trigger of Antidilution Protection in Period. Share Based Compensation Arrangement by Share Based Payment Award Equity Instruments Other Than Option Additional Warrants Issued for Trigger of Antidilution Protection Nonvested Weighted Average Exercise Price. Equity-linked instruments [Policy Text Block] Stock issued for services not yet rendered. Assets, Current Assets [Default Label] Liabilities, Current Stockholders' Equity Attributable to Parent Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest Liabilities and Equity Operating Expenses Operating Income (Loss) Other Nonoperating Income (Expense) Dividends Net Income (Loss) Attributable to Parent Comprehensive Income (Loss), Net of Tax, Attributable to Parent Shares, Outstanding Increase (Decrease) in Prepaid Expense and Other Assets IncreaseDecreaseInDigitalCurrenciesBitcoins Increase (Decrease) in Accounts Payable Increase (Decrease) in Accrued Liabilities Increase (Decrease) in Other Accounts Payable Net Cash Provided by (Used in) Operating Activities Payments to Acquire Property, Plant, and Equipment Net Cash Provided by (Used in) Investing Activities Net Cash Provided by (Used in) Financing Activities Cash and Cash Equivalents, Period Increase (Decrease) Commitments and Contingencies Disclosure [Text Block] Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] Property, Plant and Equipment, Gross Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsExercisableInPeriod ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageExercisePrice ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageExcisableExercisePrice SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsWarrantsWeigthedAverageAggregateIntrinsicValue SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueExcisable Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Number of Shares Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Weighted Average Grant Date Fair Value Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Outstanding Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value EX-101.PRE 10 mgti-20180331_pre.xml XBRL PRESENTATION FILE XML 11 R1.htm IDEA: XBRL DOCUMENT v3.8.0.1
Document And Entity Information - shares
3 Months Ended
Mar. 31, 2018
May 08, 2018
Document And Entity Information    
Entity Registrant Name MGT CAPITAL INVESTMENTS INC  
Entity Central Index Key 0001001601  
Document Type 10-Q  
Document Period End Date Mar. 31, 2018  
Amendment Flag false  
Current Fiscal Year End Date --12-31  
Entity Filer Category Smaller Reporting Company  
Entity Common Stock, Shares Outstanding   70,250,626
Trading Symbol MGTI  
Document Fiscal Period Focus Q1  
Document Fiscal Year Focus 2018  
XML 12 R2.htm IDEA: XBRL DOCUMENT v3.8.0.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2018
Dec. 31, 2017
Current assets    
Cash and cash equivalents $ 461 $ 9,519
Prepaid expenses and other current assets 1,778 894
Digital currencies 22 48
Total current assets 2,261 10,461
Non-current assets    
Property and equipment, net 9,148 3,116
Total assets 11,409 13,577
Current liabilities    
Accounts payable 347 287
Accrued expenses 577 707
Other payables 615 710
Total current liabilities 1,539 1,704
Commitments and Contingencies
Stockholders' Equity    
Common stock, $0.001 par value; 125,000,000 shares authorized; 66,127,626 and 58,963,009 shares issued and outstanding at March 31, 2018 and December 31, 2017, respectively. 66 59
Additional paid-in capital 395,789 390,736
Accumulated deficit (385,963) (378,900)
Total equity attributable to MGT stockholders 9,892 11,895
Non-controlling interest (22) (22)
Total equity 9,870 11,873
Total liabilities, stockholders' equity, redeemable convertible preferred stock and non-controlling interest 11,409 13,577
Series A Convertible Preferred Stock [Member]    
Redeemable convertible preferred stock - temporary equity    
Preferred stock, Series A Convertible Preferred, $0.001 par value, 83,840 shares authorized at March 31, 2018 and December 31, 2017. No shares issued or outstanding at March 31, 2018 and December 31, 2017.
Undesignated Preferred Stock [Member]    
Stockholders' Equity    
Undesignated preferred stock, $0.001 par value, 8,500,000 shares authorized at March 31, 2018 and December 31, 2017. No shares issued or outstanding at March 31, 2018 and December 31, 2017
XML 13 R3.htm IDEA: XBRL DOCUMENT v3.8.0.1
Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares
Mar. 31, 2018
Dec. 31, 2017
Common stock, par value $ 0.001 $ 0.001
Common stock, shares authorized 125,000,000 125,000,000
Common stock, shares issued 66,127,626 58,963,009
Common stock, shares outstanding 66,127,626 58,963,009
Series A Convertible Preferred Stock [Member]    
Preferred stock, par value $ 0.001 $ 0.001
Preferred stock, shares authorized 83,840 83,840
Preferred stock, shares outstanding
Preferred stock, shares issued
Undesignated Preferred Stock [Member]    
Preferred stock, par value $ 0.001 $ 0.001
Preferred stock, shares authorized 8,500,000 8,500,000
Preferred stock, shares outstanding
Preferred stock, shares issued
XML 14 R4.htm IDEA: XBRL DOCUMENT v3.8.0.1
Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Income Statement [Abstract]    
Revenue $ 956 $ 312
Operating expenses    
Cost of revenue 881 201
General and administrative 4,209 2,835
Sales and marketing 55 118
Research and development 47 103
Total operating expenses 5,192 3,257
Operating loss (4,236) (2,945)
Other non-operating expense    
Interest expense (75)
Warrant modification expense (139)
Loss on sale of cyber security assets (127)
Loss on sale of property and equipment (47)
Impairment/loss on sale of investments (2,871)
Total other non-operating expenses (313) (2,946)
Net loss (4,549) (5,891)
Deemed dividend (2,514)
Net loss attributable to common stockholders (7,063) (5,891)
Other comprehensive loss    
Reclassification adjustment for comprehensive loss included in net loss 66
Comprehensive loss $ (7,063) $ (5,825)
Per-share data    
Basic and diluted loss per share $ (0.12) $ (0.20)
Weighted average number of common shares outstanding 59,482,132 29,699,244
XML 15 R5.htm IDEA: XBRL DOCUMENT v3.8.0.1
Condensed Consolidated Statement of Changes in Stockholders' Equity (Unaudited) - 3 months ended Mar. 31, 2018 - USD ($)
$ in Thousands
Common Stock [Member]
Additional Paid-In Capital [Member]
Accumulated Deficit [Member]
Total Equity Attributable to MGT Stockholders [Member]
Non-controlling Interest [Member]
Total
Balance at Dec. 31, 2017 $ 59 $ 390,736 $ (378,900) $ 11,895 $ (22) $ 11,873
Balance, shares at Dec. 31, 2017 58,963,009          
Stock-based compensation $ 1 1,086 1,087 1,087
Stock-based compensation, shares 850,000          
Stock issued for services $ 1 838 839 839
Stock issued for services, shares 448,551          
Stock issued for prior year notes payable conversion $ 3 (3)
Stock issued for prior year notes payable conversion, shares 3,381,816          
Stock sold in connection with private placements 80 80 80
Stock sold in connection with private placements,shares 200,000          
Exercise of warrants $ 2 279 281 281
Exercise of warrants, shares 2,224,250          
Stock issued in disposition of cyber security assets 120 120 120
Stock issued in disposition of cyber security assets, shares 60,000          
Warrant modification expense 139 139 139
Deemed dividend 2,514 (2,514)
Net loss (4,549) (4,549) (4,549)
Balance at Mar. 31, 2018 $ 66 $ 395,789 $ (385,963) $ 9,892 $ (22) $ 9,870
Balance, shares at Mar. 31, 2018 66,127,626          
XML 16 R6.htm IDEA: XBRL DOCUMENT v3.8.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Cash Flows From Operating Activities    
Net loss $ (4,549) $ (5,891)
Adjustments to reconcile net loss to net cash used in operating activities    
Depreciation 481 99
Amortization of intangible assets 42
Stock-based compensation expense 2,227 1,299
Warrant modification expense 139
Loss on sale of property and equipment 47
Loss on sale of cybersecurity assets 127
Impairment/loss on sale of investments 2,871
Accretion of debt discount 37
Change in operating assets and liabilities    
Prepaid expenses and other current assets (886) 33
Digital currencies 26 (9)
Accounts payable 20 263
Accrued expenses (551) 72
Other payables 5
Net cash used in operating activities (2,919) (1,180)
Cash Flows From Investing Activities    
Purchase of property and equipment (6,987)
Proceeds from sale of cyber security unit 60
Proceeds from sale of property and equipment 427
Proceeds from sale of investments 26
Net cash (used in) provided by investing activities (6,500) 26
Cash Flows From Financing Activities    
Proceeds from private placements of common stock 80 650
Proceeds from issuance of convertible notes payable and warrants, net 493
Proceeds from exercise of warrants 281
Net cash provided by financing activities 361 1,143
Net change in cash and cash equivalents (9,058) (11)
Cash and cash equivalents, beginning of period 9,519 345
Cash and cash equivalents, end of period 461 334
Supplemental disclosure of cash flow information    
Cash paid for interest 7
Cash paid for income tax
Non-cash investing and financing activities    
Conversion of convertible debt and accrued interest 1,800
Issuance of L2 commitment note 160
Deemed dividend on trigger of down round provision 2,514
Reclassification adjustment upon sale of available for sale investment in net loss 66
Stock issued for services not yet rendered $ 26
XML 17 R7.htm IDEA: XBRL DOCUMENT v3.8.0.1
Organization and Basis of Presentation
3 Months Ended
Mar. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Organization and Basis of Presentation

Note 1. Organization and Basis of Presentation

 

Organization

 

MGT Capital Investments, Inc. (“MGT Capital”) is a Delaware corporation, incorporated in 2000. MGT Capital was originally incorporated in Utah in 1977. “MGT” or the “Company” is comprised of the parent company, wholly–owned subsidiaries MGT Cybersecurity, Inc., Medicsight, Inc., MGT Sports, Inc., MGT Studios, Inc. (“MGT Studios”), MGT Interactive, LLC, MGT Gaming, Inc., MGT Mining One, Inc. and MGT Mining Two, Inc. MGT Studios also owns a controlling minority interest in the subsidiary M2P Americas, Inc. MGT’s corporate office is located in Durham, North Carolina.

 

On March 23, 2018, the Company’s stockholders approved an increase in the Company’s authorized common stock from 75,000,000 shares to 125,000,000 shares. On March 23, 2018, the Company filed an amendment to its Certificate of Incorporation with the state of Delaware to reflect this change.

 

On March 23, 2018, the Company’s stockholders approved a 1-for-2 reverse split of the Company’s common stock, to be effected only if needed for the Company’s application to uplist its common stock to a national exchange. As of May 9, 2018, the Company had not amended its Certificate of Incorporation to reflect this reverse split and such adjustments are not reflected within these unaudited condensed consolidated financial statements.

 

Cryptocurrency mining

 

In September 2016, MGT commenced its Bitcoin mining operations in the Wenatchee Valley area of central Washington. Throughout 2017 the Company expanded its mining capacity with the purchase of additional miners and by entering into hosting and power agreements with Washington facilities owners. The Company also entered into management agreements with third party investors whereby the investors purchased the mining hardware, and the Company will receive both a fee to manage the mining operations plus one-half of the net operating profit.

 

Due to the lack of availability of adequate electric power in Washington to support the Company’s growth, the Company decided to move its principal operations to northern Sweden at the end of 2017. During the first quarter of 2018, the Company took delivery of additional Bitcoin mining machines in Sweden and moved or sold most of its Bitcoin mining machines from Washington. The Company plans to continue growing its mining capacity in Sweden during 2018.

 

As of March 31, 2018, MGT owned and operated approximately 500 miners located in a leased facility in Quincy, Washington and 4,200 miners located in a leased facility in Sweden. In addition, the Company operates about 2,100 miners in the Sweden location pursuant to management agreements. All miners owned or managed by MGT are S9 Antminers sold by Bitmain Technologies LTD. At full deployment expected in May 2018, our total Bitcoin mining capacity, as measured by computational hashing rate, will be approximately 90 petahash per second (“PH/s”). In addition to the S9 Antminers, the Company owns 50 custom designed GPU-based Ethereum mining rigs. During the three months ended March 31, 2018, the Company mined 91.5 Bitcoin for total revenue of $956.

 

Legacy business – cybersecurity

 

On January 26, 2018, the Company announced the end of its business relationship with cybersecurity pioneer John McAfee. Since August 2017, Mr. McAfee had served as Chief Cybersecurity Visionary of the Company, guiding the development of the Company’s cybersecurity business, including Sentinel, an enterprise class network intrusion detector, released in October 2017. The Company also owned the intellectual property associated with developing and marketing a mobile privacy phone with extensive privacy and anti-hacking features.

 

On March 19, 2018, the Company announced it had ended its cybersecurity operations by selling the Sentinel product line to a new entity formed by the unit’s management team and stopping development of the privacy phone. The Sentinel assets were sold for consideration of $60 in cash and a $1,000 promissory note, convertible into a 20% equity interest of the buyer.

 

Basis of presentation

 

The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions to Form 10–Q and Rule 10 of Regulation S–X. Accordingly, they do not include all of the information and notes required by accounting principles generally accepted in the United States of America. However, in the opinion of the management of the Company, all adjustments necessary for a fair presentation of the financial position and operating results have been included in these statements. These unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10–K for the fiscal year ended December 31, 2017, as filed with the SEC on April 2, 2018. Operating results for the three months ended March 31, 2018 are not necessarily indicative of the results that may be expected for any subsequent quarters or for the year ending December 31, 2018.

XML 18 R8.htm IDEA: XBRL DOCUMENT v3.8.0.1
Going Concern and Management's Plans
3 Months Ended
Mar. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Going Concern and Management's Plans

Note 2. Going Concern and Management’s Plans

 

The accompanying unaudited condensed consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. As of March 31, 2018, the Company had incurred significant operating losses since inception and continues to generate losses from operations and as of March 31, 2018, has an accumulated deficit of $385,963. At March 31, 2018, MGT’s cash and cash equivalents were $461. At May 8, 2018, MGT’s cash and cash equivalents were $522.

 

Management’s plans include putting into service its additional cryptocurrency mining machines, which were installed during early 2018, but for which the facility needs additional outfitting in order to be fully operational. The Company expects this facility to be fully operational during the second quarter of 2018. If there is a further delay in becoming fully operational, the Company may need to raise additional funding to provide liquidity to fund its operations. Based on current budget assumptions, the Company believes that it will be able to meet its operating expenses and obligations for one year from the date these unaudited condensed consolidated financial statements are issued. There can be no assurance however that the Company will be able to raise additional financing or other additional capital when needed, or at terms that would be considered acceptable to the Company. Such factors raise substantial doubt about the Company’s ability to sustain operations for at least one year from the issuance of these unaudited condensed consolidated financial statements. Management’s plans, including the operation of its existing crypto-currency mining machines, the raising of additional capital and potentially curtailing its operations alleviate such substantial doubt. The accompanying unaudited condensed consolidated financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.

XML 19 R9.htm IDEA: XBRL DOCUMENT v3.8.0.1
Summary of Significant Accounting Policies
3 Months Ended
Mar. 31, 2018
Accounting Policies [Abstract]  
Summary of Significant Accounting Policies

Note 3. Summary of Significant Accounting Policies

 

Principles of consolidation

 

The unaudited condensed consolidated financial statements include the accounts of MGT and its wholly owned subsidiaries. All intercompany transactions and balances have been eliminated. Non-controlling interest represents the non-controlling equity investment in MGT subsidiaries, plus the minority investors’ share of the net operating results and other components of equity relating to the non-controlling interest.

 

Reclassification

 

Certain amounts in prior periods have been reclassified to conform to current period presentation. These reclassifications had no effect on the previously reported net loss.

 

Use of estimates and assumptions and critical accounting estimates and assumptions

 

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities as of the date of the financial statements, and also affect the amounts of revenues and expenses reported for each period. Actual results could differ from those which result from using such estimates. Management utilizes various other estimates, including but not limited to determining the estimated lives of long-lived assets, determining the potential impairment of intangibles, the fair value of warrants issued, the fair value of stock options, the fair value of conversion features, the fair value of the deemed dividend, the recognition of revenue, the valuation allowance for deferred tax assets and other legal claims and contingencies. The results of any changes in accounting estimates are reflected in the financial statements in the period in which the changes become evident. Estimates and assumptions are reviewed periodically and the effects of revisions are reflected in the period that they are determined to be necessary.

 

Revenue recognition

 

The Company recognizes revenue when it is realized or realizable and earned. The Company considers revenue realized or realizable and earned when there is persuasive evidence of an arrangement, delivery has occurred, the sales price is fixed or determinable and collectability is probable. The Company’s primary revenue stream is related to the mining of digital currencies. The Company derives its revenue by solving “blocks” to be added to the blockchain and providing transaction verification services within the digital currency networks of cryptocurrencies, such as Bitcoin and Ethereum, commonly termed “cryptocurrency mining.” In consideration for these services, the Company receives digital currency (“Coins”). The Coins are recorded as revenue, using the average spot price of Bitcoin on the date of receipt. The Coins are recorded on the balance sheet at their fair value and re–measured at each reporting date. Costs of revenues includes equipment depreciation, rent, and electricity costs. Revaluation gains or losses, as well gains or losses on sale of Coins are also recorded cost of revenue in the unaudited condensed consolidated statements of operations.

 

Income taxes

 

The Company accounts for income taxes in accordance with Accounting Standards Codification (“ASC”) 740, “Income Taxes”. ASC 740 requires an asset and liability approach for financial accounting and reporting for income taxes and established for all the entities a minimum threshold for financial statement recognition of the benefit of tax positions, and requires certain expanded disclosures. The provision for income taxes is based upon income or loss after adjustment for those permanent items that are not considered in the determination of taxable income. Deferred income taxes represent the tax effects of differences between the financial reporting and tax basis of the Company’s assets and liabilities at the enacted tax rates in effect for the years in which the differences are expected to reverse. The Company evaluates the recoverability of deferred tax assets and establishes a valuation allowance when it is more likely than not that some portion or all the deferred tax assets will not be realized. Management makes judgments as to the interpretation of the tax laws that might be challenged upon an audit and cause changes to previous estimates of tax liability. In management’s opinion, adequate provisions for income taxes have been made. If actual taxable income by tax jurisdiction varies from estimates, additional allowances or reversals of reserves may be necessary.

 

The Tax Cuts and Jobs Act (the “Tax Act”) was enacted on December 22, 2017. The Tax Act reduces the U.S. federal corporate tax rate from 35% to 21%. As of the completion of these unaudited condensed consolidated financial statements and related disclosures, we have made a reasonable estimate of the effects of the Tax Act. This estimate incorporates assumptions made based upon the Company’s current interpretation of the Tax Act, and may change as the Company may receive additional clarification and implementation guidance and as the interpretation of the Tax Act evolves. In accordance with the Securities and Exchange Commission (the “SEC”) Staff Accounting Bulletin No. 118, the Company will finalize the accounting for the effects of the Tax Act no later than the fourth quarter of 2018. Future adjustments made to the provisional effects will be reported as a component of income tax expense in the reporting period in which any such adjustments are determined. Based on the new tax law that lowers corporate tax rates, the Company revalued its deferred tax assets. Future tax benefits are expected to be lower, with the corresponding one time charge being recorded as a component of income tax expense.

 

The Company is currently delinquent in the filing of its U.S. federal and state income tax returns for the years ended December 31, 2016 and 2015. The Company anticipates filing these returns on or before June 30, 2018.

 

Loss per share

 

Basic loss per share is calculated by dividing net loss applicable to common shareholders by the weighted average number of common shares outstanding during the period. Diluted loss per share is calculated by dividing the net loss attributable to common shareholders by the sum of the weighted average number of common shares outstanding plus potential dilutive common shares outstanding during the period. Potential dilutive securities, comprised of unvested restricted shares, convertible debt stock warrants and stock options, are not reflected in diluted net loss per share because such potential shares are anti–dilutive due to the Company’s net loss.

 

Accordingly, the computation of diluted loss per share for the three months ended March 31, 2018 excludes 2,000,000 shares issuable to the investors of the December 2017 private placement, 3,250,000 unvested restricted shares, 6,000,000 shares issuable under stock options, and 11,034,642 shares issuable under warrants. The computation of diluted loss per share for the three months ended March 31, 2017 excludes 1,500,000 unvested restricted shares, 6,000,000 shares issuable under options and 5,375,000 shares issuable under warrants, as they are anti–dilutive due to the Company’s net loss.

 

Stock–based compensation

 

The Company recognizes compensation expense for all equity–based payments in accordance with ASC 718 “Compensation – Stock Compensation”. Under fair value recognition provisions, the Company recognizes equity–based compensation net of an estimated forfeiture rate and recognizes compensation cost only for those shares expected to vest over the requisite service period of the award.

 

Restricted stock awards are granted at the discretion of the compensation committee of the board of directors of the Company. These awards are restricted as to the transfer of ownership and generally vest over the requisite service periods, typically over a 12 to 24-month period (vesting on a straight–line basis). The fair value of a stock award is equal to the fair market value of a share of the Company’s common stock on the grant date.

 

The fair value of an option award is estimated on the date of grant using the Black–Scholes option valuation model. The Black–Scholes option valuation model requires the development of assumptions that are inputs into the model. These assumptions are the expected stock volatility, the risk–free interest rate, the expected life of the option, the dividend yield on the underlying stock and the expected forfeiture rate. Expected volatility is calculated based on the historical volatility of the Company’s common stock over the expected term of the option. Risk–free interest rates are calculated based on continuously compounded risk–free rates for the appropriate term.

 

Determining the appropriate fair value model and calculating the fair value of equity–based payment awards requires the input of the subjective assumptions described above. The assumptions used in calculating the fair value of equity–based payment awards represent management’s best estimates, which involve inherent uncertainties and the application of management’s judgment. The Company is required to estimate the expected forfeiture rate and recognize expense only for those shares expected to vest. The fair value of unvested equity instruments is re-measured each reporting period and such re-measured value is amortized over the requisite remaining service period.

 

The Company accounts for share–based payments granted to non–employees in accordance with ASC 505–50, “Equity Based Payments to Non–Employees.” The Company determines the fair value of the stock–based payment as either the fair value of the consideration received or the fair value of the equity instruments issued, whichever is more readily determinable. If the fair value of the equity instruments issued is used, it is measured using the stock price and other measurement assumptions as of the earlier of either (1) the date at which a commitment for performance by the counterparty to earn the equity instruments is reached, or (2) the date at which the counterparty’s performance is complete.

 

Equity-linked instruments

 

The Company accounts for equity-linked instruments with certain anti-dilution provisions in accordance with ASC 815 and ASC 260. Under this guidance, the Company excludes instruments with certain down round features when determining whether a financial instrument (or embedded conversion feature) is considered indexed to the Company’s own stock. As a result, financial instruments (or embedded conversion features) with down round features are not required to be classified as derivative liabilities. The Company recoognizes the value of a down round feature only when it is triggered and the exercise or conversion price has been adjusted downward. For equity-classified freestanding financial instruments, such as warrants, the Company treats the value of the effect of the down round, when triggered, as a deemed dividend and a reduction of income available to common stockholders in computing basic earnings per share. For convertible instruments with embedded conversion features containing down round provisions, the Company recognizes the value of the down round as a beneficial conversion discount to be amortized to earnings.

 

Recent accounting pronouncements

 

Management does not believe that any recently issued, but not yet effective accounting pronouncements, when adopted, will have a material effect on the accompanying unaudited condensed consolidated financial statements, other than those disclosed in the Company’s Annual Report on Form 10-K, filed with the SEC on April 2, 2018.

 

Management’s Evaluation of Subsequent Events

 

The Company evaluates events that have occurred after the balance sheet date but before the financial statements are issued. Based upon the review, other than what is described in Note 11 – Subsequent Events, the Company did not identify any recognized or non-recognized subsequent events that would have required adjustment or disclosure in the unaudited condensed consolidated financial statements.

XML 20 R10.htm IDEA: XBRL DOCUMENT v3.8.0.1
Sale of Cybersecurity Assets
3 Months Ended
Mar. 31, 2018
Sale Of Cybersecurity Assets  
Sale of Cybersecurity Assets

Note 4. Sale of Cybersecurity assets

 

On March 16, 2018, the Company sold its Sentinel product line to a new entity formed by the unit’s management team for consideration of $60 and a $1,000 promissory note, convertible into a 20% equity interest of the buyer. Due to the early stage nature of the buyer’s business, the Company believes the collection of the promissory note is doubtful and therefore has determined the fair value to be zero. The Company recorded a loss on sale as follows:

 

Cash proceeds   $ 60  
         
Less:        
Assets sold     (27 )
Separation payments to former management     (40 )
Common stock issued to former management, at fair value     (120 )
         
Loss on sale of cybersecurity assets   $ (127 )

XML 21 R11.htm IDEA: XBRL DOCUMENT v3.8.0.1
Property and Equipment
3 Months Ended
Mar. 31, 2018
Property, Plant and Equipment [Abstract]  
Property and Equipment

Note 5. Property and Equipment

 

Property and equipment consisted of the following:

 

    As of  
    March 31, 2018     December 31, 2017  
Computer hardware and software   $ 10     $ 10  
Crypto-currency mining machines     10,198       3,685  
Property and equipment, gross     10,208       3,695  
Less: Accumulated depreciation     (1,060 )     (579 )
Property and equipment, net   $ 9,148     $ 3,116  

 

The Company recorded depreciation expense of $481 and $99 for the three months ended March 31, 2018 and 2017, respectively.

 

During the three months ended March 31, 2018, the Company sold Bitcoin machines with an aggregate book value of $474 for gross proceeds of $427 and recorded a loss on sale of $47.

XML 22 R12.htm IDEA: XBRL DOCUMENT v3.8.0.1
Common Stock and Warrant Issuances
3 Months Ended
Mar. 31, 2018
Equity [Abstract]  
Common Stock and Warrant Issuances

Note 6. Common Stock and Warrant Issuances

 

Sale of common stock

On March 15, 2018, the Company issued 200,000 shares of common stock to an investor for $80 in gross proceeds.

 

On January 17, 2018, the Company received $281 from the exercise of warrants to purchase 375,000 shares of common stock.

 

During the three months ended March 31, 2018, the Company issued an aggregate of 1,849,250 shares of common stock in exchange for the cashless exercise of warrants to purchase 3,311,100 shares of common stock.

 

During the three months ended March 31, 2018, the Company issued 448,551 shares of its common stock to consultants in exchange for services. These services were valued using the value of the shares issued of $839. During the three months ended March, 31, 2017, the Company did not issue any shares to consultants in exchange for services.

 

On December 7, 2017, a holder of one of the Company’s convertible notes payable converted their note, but requested that the Company not issue the shares due to ownership limitation provisions. During the three months ended March 31, 2018, the ownership limitations were satisfied and the Company issued 3,381,816 shares of its common stock to this former noteholder.

 

Warrants

 

The following table summarizes information about shares issuable under warrants outstanding at March 31, 2018:

 

    Warrant
shares outstanding
    Weighted
average
exercise price
    Weighted average remaining life     Intrinsic value  
Outstanding at January 1, 2018     13,720,742     $ 1.49                  
Issued     -                          
Additional warrants issued for trigger of anti-dilution protection     1,000,000     $ 0.40                  
Exercised     (3,686,100 )   $ 1.09                  
Expired or cancelled     -                          
Outstanding at March 31, 2018     11,034,642     $ 0.79       3.04     $ 6,476  
                                 
Exercisable at March 31, 2018     11,034,642     $ 0.79       3.04     $ 6,476  

 

During the three months ended March 31, 2018, the Company changed the exercise terms of certain of its warrants to allow for and induce a cashless exercise. During the three months ended March 31, 2018, the Company recorded $139 in warrant modification expense due to the modifications.

 

Deemed Dividend

 

During the three months ended March 31, 2018, an anti-dilution protection feature in certain of the Company’s warrants was triggered, causing a decrease in the exercise price of those warrants from $4.50 to $0.40. In accordance with ASC 260-10-25, the Company has recorded a deemed dividend equal to the change in fair value of the warrants due to the decrease in exercise price in the amount of $2,514.

XML 23 R13.htm IDEA: XBRL DOCUMENT v3.8.0.1
Stock-Based Compensation
3 Months Ended
Mar. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Stock-Based Compensation

Note 7. Stock–Based Compensation

 

Issuance of restricted common stock – directors, officers and employees

 

During the three months ended March 31, 2018, the Company granted 750,000 shares of restricted common stock to Mr. Robert Lowrey in connection with his employment agreement to serve as the Company’s Chief Financial Officer. The Company valued the award on its grant date and is expensing the grant date fair value over the 24 month vesting period.

 

The Company’s activity in restricted common stock was as follows for the three months ended March 31, 2018:

 

    Number of shares     Weighted average
grant date fair
value
 
Non–vested at January 1, 2018     3,850,000     $ 1.42  
Granted     750,000     $ 1.97  
Vested     (1,350,000 )   $ 1.39  
Forfeited              
Non–vested at March 31, 2018     3,250,000     $ 1.56  

 

For the three months ended March 31, 2018 and 2017, in connection with the vesting of restricted common stock awards, the Company has recorded $1,087 and $338, in employee and director stock–based compensation expense, which is a component of general and administrative expense in the unaudited condensed consolidated statement of operations and comprehensive loss.

 

As of March 31, 2018, unamortized stock-based compensation costs related to restricted share arrangements was $3,892, and will be recognized over a weighted average period of 1.26 years.

 

Stock options

 

The following is a summary of the Company’s stock option activity for the three months ended March 31, 2018:

 

    Options     Weighted
average
exercise price
    Weighted
average Grant date fair value
    Weighted average remaining
life
    Intrinsic value  
Outstanding – January 1, 2018     6,000,000     $ 0.71     $ 1.29                  
Granted                                      
Exercised                                      
Forfeited/Cancelled                                      
Outstanding – March 31, 2018     6,000,000     $ 0.71     $ 1.29       4.38     $ 3,460  
                                         
Exercisable – March 31, 2018     6,000,000     $ 0.71     $ 1.29       4.38     $ 3,460  

 

For the three months ended March 31, 2018 and 2017, the Company has recorded $0 and $962, respectively, in stock option related stock-based compensation expense, which is a component of general and administrative expense in the unaudited condensed consolidated statement of operations and comprehensive loss.

 

As of March 31, 2018, there were no unrecognized compensation costs, as all outstanding stock options are fully vested.

XML 24 R14.htm IDEA: XBRL DOCUMENT v3.8.0.1
Commitments and Contingencies
3 Months Ended
Mar. 31, 2018
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies

Note 8. Commitments and Contingencies

 

Operating Commitments

 

On December 7, 2017 and January 9, 2018, the Company entered into agreements with Beacon Leasing LLC, a Florida limited liability company (“Beacon”) whereby Beacon has agreed to lease their facility in Sweden to the Company for purposes of its mining operations and provide 15 mega watts of uninterrupted power. The agreement is for a term of 24 months for a fee of $810 per month. The Company prepaid the first and last month of service in the amount of $1,620.

 

Management Agreements

 

On October 12, 2017, MGT entered into two management agreements with two accredited investors, Deep South Mining LLC and BDLM, LLC. On November 21, 2017, the Company entered into a third management agreement with another accredited investor, Buckhead Crypto, LLC (“Buckhead Crypto”) (all three accredited investors together are “Users”, each agreement a “Management Agreement”, and all three agreements together are “Management Agreements”). Each of the Users agreed on substantially similar terms to purchase an aggregate of 2,376 Bitmain Antminer S9 mining computers (the “Bitcoin Hardware”) for a total of $3,650 to mine Bitcoin with the Company acting as the exclusive manager for each of the Users. In addition, the Users have agreed to pay to the Company, in advance, the first three months of expected electricity costs of the Bitcoin mining operations in the sum of $691, which is included in Other Payables on the Company’s consolidated balance sheet as of December 31, 2017. Initial electricity cost for the first three months following delivery of the Bitcoin Hardware shall be reimbursed to the Users within the first three months of operation. Each Management Agreement is in effect for 24 months from the date that the Bitcoin Hardware begins mining operations, and may be terminated by mutual written agreement.

 

Pursuant to the Management Agreements, the Company shall provide for installation, hosting, maintenance and repair and provide ancillary services necessary to operate the Bitcoin Hardware. In accordance with each of the Management Agreements, each of the Users will gain a portion of the Bitcoin mined called the User Distribution Portion. The User Distribution Portion is 50% of the amount of Bitcoin mined net of the operating fee (10% of the total Bitcoin mined) and the electricity cost.

 

Furthermore, upon execution of the Management Agreements, as an incentive to the Users, the Company issued to the Users an aggregate of 436,100 shares of the Company’s common stock and a Series F warrant to purchase 436,100 shares of the Company’s common stock at an initial exercise price of $2.00 per share exercisable for a period of three years to the Users. The Company issued the shares of common stock and issued all three Series F warrants for the benefits of the three Users on the respective dates of the execution of the Management Agreements.

 

On February 28, 2018, the Company and Buckhead Crypto terminated their Management Agreement. The Company agreed to purchase the Bitcoin mining machines for $767 and to refund prepaid electricity paid by Buckhead Crypto of $133.

 

On February 13, 2018, the Company entered into a new management agreement with a third party with terms similar to the other Management Agreements. The third party agreed to purchase 200 Bitmain Antminer S9 mining computers for a total of $428 to mine Bitcoin with the Company acting as the exclusive manager. This management agreement is in effect for 24 months from the date that the Bitcoin Hardware begins mining operations, and may be terminated by mutual written agreement.

 

Legal

 

In September 2016, various shareholders in the Company filed putative class action lawsuits against the Company, its president and certain of its individual officers and directors. The cases were filed in the United States District Court for the Southern District of New York (the “Court”) and alleged violations of federal securities laws and seek damages. On April 11, 2017 those cases were consolidated into a single action (the “Securities Action”) and two individual shareholders were appointed lead plaintiffs by the Court. On June 30, 2017, the lead plaintiffs filed an amended complaint.

 

On August 29, 2017, the defendants moved to dismiss the amended complaint, which the plaintiffs opposed on October 13, 2017. On November 3, 2017, the defendants filed a reply brief in further support of their motion to dismiss the amended complaint. The Court heard oral argument on the motion to dismiss on February 7, 2018. On February 28, 2018, the Court entered a judgment dismissing the case in its entirety, with prejudice, and on March 30, 2018, the time expired for plaintiffs to file a notice of appeal of the Court’s judgment.

 

On January 24, 2017, the Company was served with a copy of a summons and complaint filed by plaintiff Atul Ojha in New York state court against certain officers and directors of the Company and the Company as a nominal defendant. The lawsuit is styled as a derivative action (the “Derivative Action”) and was originally filed (but not served on any defendant) on October 15, 2016. The Derivative Action substantively alleges that the defendants, collectively or individually, inadequately managed the business and assets of the Company resulting in the deterioration of the Company’s financial condition. The Derivative Action asserts claims including but not limited to breach of fiduciary duties, unjust enrichment and waste of corporate assets. On February 27, 2017, the parties to the Derivative Action executed a stipulated stay of proceedings pending full or partial resolution of the Securities Action. Shortly after issuance of the February 28, 2018 ruling dismissing the Securities Action, the parties to the Derivative Action agreed to extend the stay indefinitely, with the plaintiff having the option to vacate the stay on thirty days’ notice. Should the plaintiff seek to vacate the stay, the Company will address the Derivative Action.

 

On March 3, 2017 and April 4, 2017 respectively, two additional actions were filed against the Company by a former shareholder Barry Honig (“Honig”). The first action was filed in federal court in North Carolina (the “North Carolina Action”) against the Company and its president and alleges claims for libel, slander, conspiracy, interference with prospective economic advantage, and unfair trade practices. The North Carolina Action substantively alleges that the defendants defamed Honig by causing or allowing certain statements to be published about Honig in news blogs and articles authored by a journalist, who is also a defendant in the case. On June 5, 2017, the Company filed a motion to dismiss the lawsuit, and on July 17, 2017 the plaintiff filed on opposition brief to the motion to dismiss. The Company filed its reply on August 18, 2017. On August 24, 2017, the court in North Carolina Action issued an order granting in part and denying in part the motion to dismiss. On January 3, 2018, the parties signed a settlement stipulation in which the North Carolina Action was withdrawn with prejudice. The court in the North Carolina Action thereafter dismissed the case on January 18, 2018.

 

The second action was brought by Honig and others in the Court (the “Breach of Contract Action”) against the Company and certain of its officers and directors. The Breach of Contract Action alleges claims for breach of contract, tortious interference with contractual relations, and unjust enrichment related to the Company’s unsuccessful attempt to acquire D–Vasive, Inc. (“D-Vasive”) and Demonsaw LLC (“Demonsaw”) in 2016 and the alleged resulting harm to certain D–Vasive, and Demonsaw LLC noteholders. The defendants filed a motion to dismiss on June 5, 2017, but after the plaintiffs filed an amended complaint on June 26, 2017, the defendants filed a motion to dismiss that complaint on July 24, 2017. On March 19, 2018, the Court issued a Memorandum Opinion & Order dismissing the breach of contract and tortious interference claims, but permitting the unjust enrichment claim to proceed. On April 2, 2018, the defendants filed a motion asking the Court to reconsider its decision to permit the unjust enrichment claim to proceed. On April 16, 2018, the plaintiffs filed their opposition to that motion, and on April 23, the defendants filed their reply. Additionally, on April 30, the Court issued a civil case management plan and scheduling order setting deadlines for discovery in the action. Should the reconsideration motion be denied, the Company and its officers and directors believe that they have meritorious defenses against the remaining claim and intend to defend that claim vigorously.

 

The Company believes that there is little merit to each of the above actions and has no indication or reason to believe that it is or will be liable for any alleged wrongdoing. The Company is consulting with its counsel to determine the appropriate legal strategy but intends to defend against the remaining actions vigorously. The Company cannot presently rule out that adverse developments in one or more of the above actions could have a materially adverse effect on the Company, its financial position or future results of operations, and has notified its director’s and officer’s liability insurance carrier.

XML 25 R15.htm IDEA: XBRL DOCUMENT v3.8.0.1
Related Party Transactions
3 Months Ended
Mar. 31, 2018
Related Party Transactions [Abstract]  
Related Party Transactions

Note 9. Related Party Transactions

 

Janice Dyson, wife of John McAfee, the Company’s former Chief Cybersecurity Visionary, is the sole director of Future Tense Secure Systems, Inc. (“FTS”) and owns 33% of the outstanding common shares of FTS.

 

On May 9, 2016, the Company entered a consulting agreement with FTS, pursuant to which FTS would provide advice, consultation, information and services to the Company including assistance with executive management, business and product development and potential acquisitions or related transactions. On January 26, 2018, the Company terminated its agreement with FTS. During the three months ended March 31, 2018 and 2017, the Company recorded consulting fees of $137 and $200, respectively, to FTS for such services. As of March 31, 2018, the Company owed $0 to FTS.

XML 26 R16.htm IDEA: XBRL DOCUMENT v3.8.0.1
Employee Benefit Plans
3 Months Ended
Mar. 31, 2018
Retirement Benefits [Abstract]  
Employee Benefit Plans

Note 10. Employee Benefit Plans

 

The Company maintains defined contribution benefit plans under Section 401(k) of the Internal Revenue Code covering substantially all qualified employees of the Company (the “401(k) Plan”). Under the 401(k) Plan, the Company may make discretionary contributions of up to 100% of employee contributions. During the three months ended March 31, 2018 and 2017, the Company made contributions to the 401(k) Plan of $18 and $2, respectively.

XML 27 R17.htm IDEA: XBRL DOCUMENT v3.8.0.1
Subsequent Events
3 Months Ended
Mar. 31, 2018
Subsequent Events [Abstract]  
Subsequent Events

Note 11. Subsequent Events

 

The Company has evaluated the impacts of subsequent events through May 9, 2018, and has determined that no such events occurred that were required to be reflected in the consolidated financial statements, except as described within the above notes and described below.

 

Shares Issued to Consultants

 

Subsequent to March 31, 2018 through May 9, 2018, the Company issued 223,000 shares of its common stock to consultants in exchange for services.

 

Shares Issued to Employees and Directors

 

On April 6, 2018, the Company issued 1,050,000 of its restricted common stock to certain executive employees and directors in connection with the commencement of its Bitcoin operation in Sweden. The shares were valued at $1,302 on date of grant and such value will recognized as non-cash compensation over the twelve-month vesting period.

 

Employment Agreement

 

On April 1, 2018, the Company entered into an Amended and Restated Executive Employment Agreement (the “Employment Agreement”) with Mr. Robert Ladd, which was executed on April 6, 2018. The Employment Agreement provides that Mr. Ladd has been reappointed for an initial term of two years. Mr. Ladd is entitled to receive an annualized base salary of $360,000 and is also eligible for a cash and/or equity bonus as the Compensation Committee may determine, from time to time, based on meeting performance objectives and bonus criteria to be mutually identified by Mr. Ladd and the Compensation Committee. In connection with the execution of the Employment Agreement, the Company issued to Mr. Ladd 600,000 shares of the Company’s restricted common stock, pursuant to the Company’s 2016 Stock Option Plan, vesting over a two-year period.

 

Warrant Exercise

 

On April 16, 2018, the Company issued 1,000,000 shares of its common stock in exchange for the cashless exercise of warrants.

 

On April 30, 2018, the Company received $313 in proceeds from the exercise of a warrant to purchase 625,000 shares of the Company’s common stock.

 

On May 2, 2018, the Company received $313 in proceeds from the exercise of a warrant to purchase 625,000 shares of the Company’s common stock.

XML 28 R18.htm IDEA: XBRL DOCUMENT v3.8.0.1
Summary of Significant Accounting Policies (Policies)
3 Months Ended
Mar. 31, 2018
Accounting Policies [Abstract]  
Principles of Consolidation

Principles of consolidation

 

The unaudited condensed consolidated financial statements include the accounts of MGT and its wholly owned subsidiaries. All intercompany transactions and balances have been eliminated. Non-controlling interest represents the non-controlling equity investment in MGT subsidiaries, plus the minority investors’ share of the net operating results and other components of equity relating to the non-controlling interest.

Reclassification

Reclassification

 

Certain amounts in prior periods have been reclassified to conform to current period presentation. These reclassifications had no effect on the previously reported net loss.

Use of Estimates and Assumptions and Critical Accounting Estimates and Assumptions

Use of estimates and assumptions and critical accounting estimates and assumptions

 

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities as of the date of the financial statements, and also affect the amounts of revenues and expenses reported for each period. Actual results could differ from those which result from using such estimates. Management utilizes various other estimates, including but not limited to determining the estimated lives of long-lived assets, determining the potential impairment of intangibles, the fair value of warrants issued, the fair value of stock options, the fair value of conversion features, the fair value of the deemed dividend, the recognition of revenue, the valuation allowance for deferred tax assets and other legal claims and contingencies. The results of any changes in accounting estimates are reflected in the financial statements in the period in which the changes become evident. Estimates and assumptions are reviewed periodically and the effects of revisions are reflected in the period that they are determined to be necessary.

Revenue Recognition

Revenue recognition

 

The Company recognizes revenue when it is realized or realizable and earned. The Company considers revenue realized or realizable and earned when there is persuasive evidence of an arrangement, delivery has occurred, the sales price is fixed or determinable and collectability is probable. The Company’s primary revenue stream is related to the mining of digital currencies. The Company derives its revenue by solving “blocks” to be added to the blockchain and providing transaction verification services within the digital currency networks of cryptocurrencies, such as Bitcoin and Ethereum, commonly termed “cryptocurrency mining.” In consideration for these services, the Company receives digital currency (“Coins”). The Coins are recorded as revenue, using the average spot price of Bitcoin on the date of receipt. The Coins are recorded on the balance sheet at their fair value and re–measured at each reporting date. Costs of revenues includes equipment depreciation, rent, and electricity costs. Revaluation gains or losses, as well gains or losses on sale of Coins are also recorded cost of revenue in the unaudited condensed consolidated statements of operations.

Income Taxes

Income taxes

 

The Company accounts for income taxes in accordance with Accounting Standards Codification (“ASC”) 740, “Income Taxes”. ASC 740 requires an asset and liability approach for financial accounting and reporting for income taxes and established for all the entities a minimum threshold for financial statement recognition of the benefit of tax positions, and requires certain expanded disclosures. The provision for income taxes is based upon income or loss after adjustment for those permanent items that are not considered in the determination of taxable income. Deferred income taxes represent the tax effects of differences between the financial reporting and tax basis of the Company’s assets and liabilities at the enacted tax rates in effect for the years in which the differences are expected to reverse. The Company evaluates the recoverability of deferred tax assets and establishes a valuation allowance when it is more likely than not that some portion or all the deferred tax assets will not be realized. Management makes judgments as to the interpretation of the tax laws that might be challenged upon an audit and cause changes to previous estimates of tax liability. In management’s opinion, adequate provisions for income taxes have been made. If actual taxable income by tax jurisdiction varies from estimates, additional allowances or reversals of reserves may be necessary.

 

The Tax Cuts and Jobs Act (the “Tax Act”) was enacted on December 22, 2017. The Tax Act reduces the U.S. federal corporate tax rate from 35% to 21%. As of the completion of these unaudited condensed consolidated financial statements and related disclosures, we have made a reasonable estimate of the effects of the Tax Act. This estimate incorporates assumptions made based upon the Company’s current interpretation of the Tax Act, and may change as the Company may receive additional clarification and implementation guidance and as the interpretation of the Tax Act evolves. In accordance with the Securities and Exchange Commission (the “SEC”) Staff Accounting Bulletin No. 118, the Company will finalize the accounting for the effects of the Tax Act no later than the fourth quarter of 2018. Future adjustments made to the provisional effects will be reported as a component of income tax expense in the reporting period in which any such adjustments are determined. Based on the new tax law that lowers corporate tax rates, the Company revalued its deferred tax assets. Future tax benefits are expected to be lower, with the corresponding one time charge being recorded as a component of income tax expense.

 

The Company is currently delinquent in the filing of its U.S. federal and state income tax returns for the years ended December 31, 2016 and 2015. The Company anticipates filing these returns on or before June 30, 2018.

Loss Per Share

Loss per share

 

Basic loss per share is calculated by dividing net loss applicable to common shareholders by the weighted average number of common shares outstanding during the period. Diluted loss per share is calculated by dividing the net loss attributable to common shareholders by the sum of the weighted average number of common shares outstanding plus potential dilutive common shares outstanding during the period. Potential dilutive securities, comprised of unvested restricted shares, convertible debt stock warrants and stock options, are not reflected in diluted net loss per share because such potential shares are anti–dilutive due to the Company’s net loss.

 

Accordingly, the computation of diluted loss per share for the three months ended March 31, 2018 excludes 2,000,000 shares issuable to the investors of the December 2017 private placement, 3,250,000 unvested restricted shares, 6,000,000 shares issuable under stock options, and 10,034,642 shares issuable under warrants. The computation of diluted loss per share for the three months ended March 31, 2017 excludes 1,500,000 unvested restricted shares, 6,000,000 shares issuable under options and 5,375,000 shares issuable under warrants, as they are anti–dilutive due to the Company’s net loss.

Stock-Based Compensation

Stock–based compensation

 

The Company recognizes compensation expense for all equity–based payments in accordance with ASC 718 “Compensation – Stock Compensation”. Under fair value recognition provisions, the Company recognizes equity–based compensation net of an estimated forfeiture rate and recognizes compensation cost only for those shares expected to vest over the requisite service period of the award.

 

Restricted stock awards are granted at the discretion of the compensation committee of the board of directors of the Company. These awards are restricted as to the transfer of ownership and generally vest over the requisite service periods, typically over a 12 to 24-month period (vesting on a straight–line basis). The fair value of a stock award is equal to the fair market value of a share of the Company’s common stock on the grant date.

 

The fair value of an option award is estimated on the date of grant using the Black–Scholes option valuation model. The Black–Scholes option valuation model requires the development of assumptions that are inputs into the model. These assumptions are the expected stock volatility, the risk–free interest rate, the expected life of the option, the dividend yield on the underlying stock and the expected forfeiture rate. Expected volatility is calculated based on the historical volatility of the Company’s common stock over the expected term of the option. Risk–free interest rates are calculated based on continuously compounded risk–free rates for the appropriate term.

 

Determining the appropriate fair value model and calculating the fair value of equity–based payment awards requires the input of the subjective assumptions described above. The assumptions used in calculating the fair value of equity–based payment awards represent management’s best estimates, which involve inherent uncertainties and the application of management’s judgment. The Company is required to estimate the expected forfeiture rate and recognize expense only for those shares expected to vest. The fair value of unvested equity instruments is re-measured each reporting period and such re-measured value is amortized over the requisite remaining service period.

 

The Company accounts for share–based payments granted to non–employees in accordance with ASC 505–50, “Equity Based Payments to Non–Employees.” The Company determines the fair value of the stock–based payment as either the fair value of the consideration received or the fair value of the equity instruments issued, whichever is more readily determinable. If the fair value of the equity instruments issued is used, it is measured using the stock price and other measurement assumptions as of the earlier of either (1) the date at which a commitment for performance by the counterparty to earn the equity instruments is reached, or (2) the date at which the counterparty’s performance is complete.

Equity-linked Instruments

Equity-linked instruments

 

The Company accounts for equity-linked instruments with certain anti-dilution provisions in accordance with ASC 815 and ASC 260. Under this guidance, the Company excludes instruments with certain down round features when determining whether a financial instrument (or embedded conversion feature) is considered indexed to the Company’s own stock. As a result, financial instruments (or embedded conversion features) with down round features are not required to be classified as derivative liabilities. The Company recoognizes the value of a down round feature only when it is triggered and the exercise or conversion price has been adjusted downward. For equity-classified freestanding financial instruments, such as warrants, the Company treats the value of the effect of the down round, when triggered, as a deemed dividend and a reduction of income available to common stockholders in computing basic earnings per share. For convertible instruments with embedded conversion features containing down round provisions, the Company recognizes the value of the down round as a beneficial conversion discount to be amortized to earnings.

Recent Accounting Pronouncements

Recent accounting pronouncements

 

Management does not believe that any recently issued, but not yet effective accounting pronouncements, when adopted, will have a material effect on the accompanying unaudited condensed consolidated financial statements, other than those disclosed in the Company’s Annual Report on Form 10-K, filed with the SEC on April 2, 2018.

Management's Evaluation of Subsequent Events

Management’s Evaluation of Subsequent Events

 

The Company evaluates events that have occurred after the balance sheet date but before the financial statements are issued. Based upon the review, other than what is described in Note 11 – Subsequent Events, the Company did not identify any recognized or non-recognized subsequent events that would have required adjustment or disclosure in the unaudited condensed consolidated financial statements.

XML 29 R19.htm IDEA: XBRL DOCUMENT v3.8.0.1
Sale of Cybersecurity Assets (Tables)
3 Months Ended
Mar. 31, 2018
Sale Of Cybersecurity Assets  
Schedule of Loss on Sale of Cybersecurity Assets

The Company recorded a loss on sale as follows:

 

Cash proceeds   $ 60  
         
Less:        
Assets sold     (27 )
Separation payments to former management     (40 )
Common stock issued to former management, at fair value     (120 )
         
Loss on sale of cybersecurity assets   $ (127 )

XML 30 R20.htm IDEA: XBRL DOCUMENT v3.8.0.1
Property and Equipment (Tables)
3 Months Ended
Mar. 31, 2018
Property, Plant and Equipment [Abstract]  
Schedule of Property, Plant and Equipment

Property and equipment consisted of the following:

 

    As of  
    March 31, 2018     December 31, 2017  
Computer hardware and software   $ 10     $ 10  
Crypto-currency mining machines     10,198       3,685  
Property and equipment, gross     10,208       3,695  
Less: Accumulated depreciation     (1,060 )     (579 )
Property and equipment, net   $ 9,148     $ 3,116  

XML 31 R21.htm IDEA: XBRL DOCUMENT v3.8.0.1
Common Stock and Warrant Issuances (Tables)
3 Months Ended
Mar. 31, 2018
Equity [Abstract]  
Summary of Warrant Outstanding

The following table summarizes information about shares issuable under warrants outstanding at March 31, 2018:

 

    Warrant
shares outstanding
    Weighted
average
exercise price
    Weighted average remaining life     Intrinsic value  
Outstanding at January 1, 2018     13,720,742     $ 1.49                  
Issued     -                          
Additional warrants issued for trigger of anti-dilution protection     1,000,000     $ 0.40                  
Exercised     (3,686,100 )   $ 1.09                  
Expired or cancelled     -                          
Outstanding at March 31, 2018     11,034,642     $ 0.79       3.04     $ 6,476  
                                 
Exercisable at March 31, 2018     11,034,642     $ 0.79       3.04     $ 6,476  

XML 32 R22.htm IDEA: XBRL DOCUMENT v3.8.0.1
Stock-Based Compensation (Tables)
3 Months Ended
Mar. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of Restricted Common Stock Activity

The Company’s activity in restricted common stock was as follows for the three months ended March 31, 2018:

 

    Number of shares     Weighted average
grant date fair
value
 
Non–vested at January 1, 2018     3,850,000     $ 1.42  
Granted     750,000     $ 1.97  
Vested     (1,350,000 )   $ 1.39  
Forfeited              
Non–vested at March 31, 2018     3,250,000     $ 1.56  

Schedule of Stock Options Activity

The following is a summary of the Company’s stock option activity for the three months ended March 31, 2018:

 

    Options     Weighted
average
exercise price
    Weighted
average Grant date fair value
    Weighted average remaining
life
    Intrinsic value  
Outstanding – January 1, 2018     6,000,000     $ 0.71     $ 1.29                  
Granted                                      
Exercised                                      
Forfeited/Cancelled                                      
Outstanding – March 31, 2018     6,000,000     $ 0.71     $ 1.29       4.38     $ 3,460  
                                         
Exercisable – March 31, 2018     6,000,000     $ 0.71     $ 1.29       4.38     $ 3,460  

XML 33 R23.htm IDEA: XBRL DOCUMENT v3.8.0.1
Organization and Basis of Presentation (Details Narrative) - USD ($)
$ in Thousands
3 Months Ended
Mar. 23, 2018
Mar. 19, 2018
Mar. 16, 2018
Mar. 31, 2018
Dec. 31, 2017
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items]          
Common stock, shares authorized       125,000,000 125,000,000
Common stock reverse split The Company’s stockholders approved a 1-for-2 reverse split of the Company’s common stock, to be effected only if needed for the Company’s application to uplist its common stock to a national exchange.        
Description on Cryptocurrency mining       The Company mined 91.5 Bitcoin  
Revenue on mining       $ 1,003  
Sale of asset in consideration   $ 60 $ 60 $ 60  
Conversion convertible interest percentage   20.00%      
Quincy [Member]          
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items]          
Description on Cryptocurrency mining       MGT owned and operated approximately 500 miners located in a leased facility in Quincy, Washington and 4,200 miners located in a leased facility in Sweden. In addition, the Company operates about 2,100 miners in the Sweden location pursuant to management agreements. All miners owned or managed by MGT are S9 Antminers sold by Bitmain Technologies LTD. At full deployment expected in May 2018, our total Bitcoin mining capacity, as measured by computational hashing rate, will be approximately 90 petahash per second (“PH/s”). In addition to the S9 Antminers, the Company owns 50 custom designed GPU-based Ethereum mining rigs.  
Promissory Note [Member]          
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items]          
Sale of asset in consideration   $ 956 $ 1,000    
Conversion convertible interest percentage     20.00%    
Minimum [Member]          
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items]          
Common stock, shares authorized 75,000,000        
Maximum [Member]          
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items]          
Common stock, shares authorized 125,000,000        
XML 34 R24.htm IDEA: XBRL DOCUMENT v3.8.0.1
Going Concern and Management's Plans (Details Narrative) - USD ($)
$ in Thousands
Mar. 31, 2018
Dec. 31, 2017
Mar. 31, 2017
Dec. 31, 2016
Accumulated deficit $ 385,963 $ 378,900    
Cash and cash equivalents 461 $ 9,519 $ 334 $ 345
May 8, 2018 [Member]        
Cash and cash equivalents $ 522      
XML 35 R25.htm IDEA: XBRL DOCUMENT v3.8.0.1
Summary of Significant Accounting Policies (Details Narrative) - shares
3 Months Ended
Dec. 22, 2017
Mar. 31, 2018
Mar. 31, 2017
Summary Of Significant Accounting Policies [Line Items]      
Income tax examination, description   The Tax Cuts and Jobs Act (the “Tax Act”) was enacted on December 22, 2017. The Tax Act reduces the U.S. federal corporate tax rate from 35% to 21%.  
Effective U.S. federal corporate tax rate 21.00% 35.00%  
Options [Member]      
Summary Of Significant Accounting Policies [Line Items]      
Antidilutive securities excluded from computation of earnings per share, amount   6,000,000 6,000,000
Warrant [Member]      
Summary Of Significant Accounting Policies [Line Items]      
Antidilutive securities excluded from computation of earnings per share, amount   11,034,642 5,375,000
Unvested Restricted Stock [Member]      
Summary Of Significant Accounting Policies [Line Items]      
Antidilutive securities excluded from computation of earnings per share, amount   3,250,000 15,000,00.
December 2017 Private Placement [Member]      
Summary Of Significant Accounting Policies [Line Items]      
Antidilutive securities excluded from computation of earnings per share, amount   2,000,000  
XML 36 R26.htm IDEA: XBRL DOCUMENT v3.8.0.1
Sale of Cybersecurity Assets (Details Narrative) - USD ($)
$ in Thousands
3 Months Ended
Mar. 19, 2018
Mar. 16, 2018
Mar. 31, 2018
Sale of asset in consideration $ 60 $ 60 $ 60
Convertible interest percentage of equity interest 20.00%    
Promissory Note [Member]      
Sale of asset in consideration $ 956 $ 1,000  
Convertible interest percentage of equity interest   20.00%  
XML 37 R27.htm IDEA: XBRL DOCUMENT v3.8.0.1
Sale of Cybersecurity Assets - Schedule of Loss on Sale of Cybersecurity Assets (Details) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Sale Of Cybersecurity Assets    
Cash proceeds $ 60  
Less: Assets sold (27)  
Less: Separation payments to former management (40)  
Less: Common stock issued to former management, at fair value (120)  
Loss on sale of cybersecurity assets $ (127)
XML 38 R28.htm IDEA: XBRL DOCUMENT v3.8.0.1
Property and Equipment (Details Narrative) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Depreciation expense $ 481 $ 99
Gain on sale of machines (127)
Bitcoin Machines [Member]    
Book value machines 474  
Proceeds from sale of machinery 427  
Gain on sale of machines $ 47  
XML 39 R29.htm IDEA: XBRL DOCUMENT v3.8.0.1
Property and Equipment - Schedule of Property, Plant and Equipment (Details) - USD ($)
$ in Thousands
Mar. 31, 2018
Dec. 31, 2017
Property, Plant and Equipment [Abstract]    
Computer hardware and software $ 10 $ 10
Crypto-currency mining machines 10,198 3,685
Property and equipment, gross 10,208 3,695
Less: Accumulated depreciation (1,060) (579)
Property and equipment, net $ 9,148 $ 3,116
XML 40 R30.htm IDEA: XBRL DOCUMENT v3.8.0.1
Common Stock and Warrant Issuances (Details Narrative) - USD ($)
$ / shares in Units, $ in Thousands
3 Months Ended
Mar. 15, 2018
Jan. 17, 2018
Mar. 31, 2018
Mar. 31, 2017
Number of common stock shares issued during the period     1,849,250  
Proceeds from warrants exercises   $ 281 $ 281
Warrant exercisable shares   375,000 3,311,100  
Value of common stock shares issued for services     $ 839  
Warrant modification expense     139
Deemed dividend     $ 2,514
Maximum [Member]        
Decrease of exercise price of warrants due to anti-dilution protection     $ 4.50  
Minimum [Member]        
Decrease of exercise price of warrants due to anti-dilution protection     $ 0.40  
Former Noteholder [Member]        
Number of common stock shares issued during the period     3,381,816  
Consultants [Member]        
Number of common stock shares issued for services      
Consultants [Member]        
Number of common stock shares issued for services     448,551  
Investor [Member]        
Number of common stock shares issued during the period 200,000      
Common stock shares issued during period, value $ 80      
XML 41 R31.htm IDEA: XBRL DOCUMENT v3.8.0.1
Common Stock and Warrant Issuances - Summary of Warrant Outstanding (Details) - Warrant [Member]
$ / shares in Units, $ in Thousands
3 Months Ended
Mar. 31, 2018
USD ($)
$ / shares
shares
Warrants outstanding, beginning | shares 13,720,742
Warrants outstanding, issued | shares
Warrants outstanding, additional warrants issued for trigger of anti-dilution protection | shares 1,000,000
Warrants outstanding, exercised | shares (3,686,100)
Warrants outstanding, expired or cancelled | shares
Warrants outstanding, ending | shares 11,034,642
Warrants exercisable, ending | shares 11,034,642
Weighted average exercise price, beginning | $ / shares $ 1.49
Weighted average exercise price, issued | $ / shares
Weighted average exercise price, additional warrants issued for trigger of anti-dilution protection | $ / shares 0.40
Weighted average exercise price, exercised | $ / shares 1.09
Weighted average exercise price, expired | $ / shares
Weighted average exercise price, ending | $ / shares 0.79
Weighted average exercise price exercisable, ending | $ / shares $ 0.79
Weighted average remaining life, outstanding 3 years 15 days
Weighted average remaining life, exercisable 3 years 15 days
Intrinsic value outstanding, ending | $ $ 6,476
Intrinsic value exercisable, ending | $ $ 6,476
XML 42 R32.htm IDEA: XBRL DOCUMENT v3.8.0.1
Stock-Based Compensation (Details Narrative) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Stock based compensation $ 2,227 $ 1,299
Unrecognized compensation costs related to non-vested stock options  
Stock Option [Member]    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Share based compensation of weighted average period term 4 years 4 months 17 days  
Restricted Stock [Member]    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Unamortized stock-based compensation costs $ 3,892  
Share based compensation of weighted average period term 1 year 3 months 4 days  
Selling General and Administrative Expenses [Member] | Stock Option [Member]    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Stock based compensation $ 0 962
Mr. Robert Lowrey [Member]    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Stock granted during period restricted shares 750,000  
Stock option vesting period 24 months  
Employee and Director [Member] | Selling General and Administrative Expenses [Member]    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Stock based compensation $ 1,087 $ 338
XML 43 R33.htm IDEA: XBRL DOCUMENT v3.8.0.1
Stock-Based Compensation - Schedule of Restricted Common Stock Activity (Details)
3 Months Ended
Mar. 31, 2018
$ / shares
shares
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Number of Shares Non-vested, Beginning Balance | shares 3,850,000
Number of Shares, Granted | shares 750,000
Number of Shares, Vested | shares (1,350,000)
Number of Shares, Forfeited | shares
Number of Shares Non-vested, Ending Balance | shares 3,250,000
Weighted Average Grant Date Fair Value Non-vested, Beginning Balance | $ / shares $ 1.42
Weighted Average Grant Date Fair Value, Granted | $ / shares 1.97
Weighted Average Grant Date Fair Value, Vested | $ / shares 1.39
Weighted Average Grant Date Fair Value, Forfeited | $ / shares
Weighted Average Grant Date Fair Value Non-vested, Ending Balance | $ / shares $ 1.56
XML 44 R34.htm IDEA: XBRL DOCUMENT v3.8.0.1
Stock-Based Compensation - Schedule of Stock Options Activity (Details)
$ / shares in Units, $ in Thousands
3 Months Ended
Mar. 31, 2018
USD ($)
$ / shares
shares
Options Outstanding, Granted | shares 750,000
Weighted Average Grant Date Fair Value Outstanding, Beginning Balance $ 1.97
Stock Option [Member]  
Options Outstanding, Beginning Balance | shares 6,000,000
Options Outstanding, Granted | shares
Options Outstanding, Exercised | shares
Options Outstanding, Forfeited/cancelled | shares
Options Outstanding, Ending Balance | shares 6,000,000
Options Exercisable, Ending Balance | shares 6,000,000
Weighted Average Exercise Price Outstanding, Beginning Balance $ 0.71
Weighted Average Exercise Price Outstanding, Granted
Weighted Average Exercise Price Outstanding, Exercised
Weighted Average Exercise Price Outstanding, Forfeited/cancelled
Weighted Average Exercise Price Outstanding, Ending Balance 0.71
Weighted Average Exercise Price Exercisable, Ending Balance 0.71
Weighted Average Grant Date Fair Value Outstanding, Beginning Balance 1.29
Weighted Average Grant Date Fair Value Outstanding, Ending Balance 1.29
Weighted Average Grant Date Fair Value Exercisable, Ending Balance $ 1.29
Weighted Average Remaining Life Outstanding, Ending Balance 4 years 4 months 17 days
Weighted Average Remaining Life Exercisable, Ending Balance 4 years 4 months 17 days
Intrinsic Value Outstanding, Ending Balance | $ $ 3,460
Intrinsic Value Exercisable, Ending Balance | $ $ 3,460
XML 45 R35.htm IDEA: XBRL DOCUMENT v3.8.0.1
Commitments and Contingencies (Details Narrative)
$ / shares in Units, $ in Thousands
1 Months Ended 3 Months Ended
Feb. 28, 2018
USD ($)
Feb. 13, 2018
USD ($)
Bitcoin
Oct. 12, 2017
USD ($)
Bitcoin
Jan. 09, 2018
USD ($)
Mar. 31, 2018
$ / shares
shares
Series F Warrant [Member]          
Operating Leases Commitments And Security Deposit [Line Items]          
Number of common stock purchase during period | shares         436,100
Initial exercise price | $ / shares         $ 2.00
Two Management Agreements [Member]          
Operating Leases Commitments And Security Deposit [Line Items]          
Number of bitcoin mining machines purchased | Bitcoin     2,376    
Purchase of assets     $ 3,650    
Cash paid advance     $ 691    
User distribution portion description     The User Distribution Portion is 50% of the amount of Bitcoin mined net of the operating fee (10% of the total Bitcoin mined) and the electricity cost.    
Common stock option exercisable period     3 years    
Other Management Agreement [Member] | Third Party [Member]          
Operating Leases Commitments And Security Deposit [Line Items]          
Number of bitcoin mining machines purchased | Bitcoin   200      
Purchase of assets   $ 428      
Beacon Leasing LLC [Member] | 24 Months [Member]          
Operating Leases Commitments And Security Deposit [Line Items]          
Monthly rent       $ 810  
Beacon Leasing LLC [Member] | First and Last Month [Member]          
Operating Leases Commitments And Security Deposit [Line Items]          
Services cost       $ 1,620  
Buckhead Crypto [Member] | Management Agreement Termination [Member]          
Operating Leases Commitments And Security Deposit [Line Items]          
Purchase of assets $ 767        
Cash paid advance $ 133        
XML 46 R36.htm IDEA: XBRL DOCUMENT v3.8.0.1
Related Party Transactions (Details Narrative) - FTS [Member] - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Outstanding shares of common stock ownership percentage 33.00%  
Consulting fees $ 137 $ 200
Due to related party $ 0  
XML 47 R37.htm IDEA: XBRL DOCUMENT v3.8.0.1
Employee Benefit Plans (Details Narrative) - 401(k) Plan [Member] - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Employee contribution amount $ 18 $ 2
Maximum [Member]    
Employee contribution percentage 100.00%  
XML 48 R38.htm IDEA: XBRL DOCUMENT v3.8.0.1
Subsequent Events (Details Narrative) - USD ($)
$ in Thousands
1 Months Ended 3 Months Ended
May 02, 2018
Apr. 30, 2018
Apr. 16, 2018
Apr. 06, 2018
Apr. 01, 2018
Jan. 17, 2018
May 09, 2018
Mar. 31, 2018
Mar. 31, 2017
Proceeds from exercise of warrants           $ 281   $ 281
Subsequent Event [Member]                  
Stock issued during period exchange for cashless exercise of warrants     1,000,000            
Proceeds from exercise of warrants $ 313 $ 313              
Warrants to purchase common stock 625,000 625,000              
Subsequent Event [Member] | Employee and Director [Member]                  
Stock issued during period restricted shares       1,050,000          
Stock issued during period restricted value       $ 1,302          
Stock option vesting period       12 months          
Subsequent Event [Member] | Mr. Ladd [Member] | Amended and Restated Executive Employment Agreement [Member]                  
Officers compensation         $ 360,000        
Subsequent Event [Member] | Mr. Ladd [Member] | Amended and Restated Executive Employment Agreement [Member] | 2016 Stock Option Plan [Member]                  
Stock issued during period restricted shares         600,000        
Stock option vesting period         2 years        
Subsequent Event [Member] | Consultants [Member]                  
Number of common stock shares issued for services             223,000    
EXCEL 49 Financial_Report.xlsx IDEA: XBRL DOCUMENT begin 644 Financial_Report.xlsx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end XML 50 Show.js IDEA: XBRL DOCUMENT /** * Rivet Software Inc. * * @copyright Copyright (c) 2006-2011 Rivet Software, Inc. All rights reserved. * Version 2.4.0.3 * */ var Show = {}; Show.LastAR = null, Show.hideAR = function(){ Show.LastAR.style.display = 'none'; }; Show.showAR = function ( link, id, win ){ if( Show.LastAR ){ Show.hideAR(); } var ref = link; do { ref = ref.nextSibling; } while (ref && ref.nodeName != 'TABLE'); if (!ref || ref.nodeName != 'TABLE') { var tmp = win ? win.document.getElementById(id) : document.getElementById(id); if( tmp ){ ref = tmp.cloneNode(true); ref.id = ''; link.parentNode.appendChild(ref); } } if( ref ){ ref.style.display = 'block'; Show.LastAR = ref; } }; Show.toggleNext = function( link ){ var ref = link; do{ ref = ref.nextSibling; }while( ref.nodeName != 'DIV' ); if( ref.style && ref.style.display && ref.style.display == 'none' ){ ref.style.display = 'block'; if( link.textContent ){ link.textContent = link.textContent.replace( '+', '-' ); }else{ link.innerText = link.innerText.replace( '+', '-' ); } }else{ ref.style.display = 'none'; if( link.textContent ){ link.textContent = link.textContent.replace( '-', '+' ); }else{ link.innerText = link.innerText.replace( '-', '+' ); } } }; XML 51 report.css IDEA: XBRL DOCUMENT /* Updated 2009-11-04 */ /* v2.2.0.24 */ /* DefRef Styles */ ..report table.authRefData{ background-color: #def; border: 2px solid #2F4497; font-size: 1em; position: absolute; } ..report table.authRefData a { display: block; font-weight: bold; } ..report table.authRefData p { margin-top: 0px; } ..report table.authRefData .hide { background-color: #2F4497; padding: 1px 3px 0px 0px; text-align: right; } ..report table.authRefData .hide a:hover { background-color: #2F4497; } ..report table.authRefData .body { height: 150px; overflow: auto; width: 400px; } ..report table.authRefData table{ font-size: 1em; } /* Report Styles */ ..pl a, .pl a:visited { color: black; text-decoration: none; } /* table */ ..report { background-color: white; border: 2px solid #acf; clear: both; color: black; font: normal 8pt Helvetica, Arial, san-serif; margin-bottom: 2em; } ..report hr { border: 1px solid #acf; } /* Top labels */ ..report th { background-color: #acf; color: black; font-weight: bold; text-align: center; } ..report th.void { background-color: transparent; color: #000000; font: bold 10pt Helvetica, Arial, san-serif; text-align: left; } ..report .pl { text-align: left; vertical-align: top; white-space: normal; width: 200px; white-space: normal; /* word-wrap: break-word; */ } ..report td.pl a.a { cursor: pointer; display: block; width: 200px; overflow: hidden; } ..report td.pl div.a { width: 200px; } ..report td.pl a:hover { background-color: #ffc; } /* Header rows... */ ..report tr.rh { background-color: #acf; color: black; font-weight: bold; } /* Calendars... */ ..report .rc { background-color: #f0f0f0; } /* Even rows... */ ..report .re, .report .reu { background-color: #def; } ..report .reu td { border-bottom: 1px solid black; } /* Odd rows... */ ..report .ro, .report .rou { background-color: white; } ..report .rou td { border-bottom: 1px solid black; } ..report .rou table td, .report .reu table td { border-bottom: 0px solid black; } /* styles for footnote marker */ ..report .fn { white-space: nowrap; } /* styles for numeric types */ ..report .num, .report .nump { text-align: right; white-space: nowrap; } ..report .nump { padding-left: 2em; } ..report .nump { padding: 0px 0.4em 0px 2em; } /* styles for text types */ ..report .text { text-align: left; white-space: normal; } ..report .text .big { margin-bottom: 1em; width: 17em; } ..report .text .more { display: none; } ..report .text .note { font-style: italic; font-weight: bold; } ..report .text .small { width: 10em; } ..report sup { font-style: italic; } ..report .outerFootnotes { font-size: 1em; } XML 53 FilingSummary.xml IDEA: XBRL DOCUMENT 3.8.0.1 html 88 209 1 false 42 0 false 5 false false R1.htm 00000001 - Document - Document And Entity Information Sheet http://mgtci.com/role/DocumentAndEntityInformation Document And Entity Information Cover 1 false false R2.htm 00000002 - Statement - Condensed Consolidated Balance Sheets Sheet http://mgtci.com/role/BalanceSheets Condensed Consolidated Balance Sheets Statements 2 false false R3.htm 00000003 - Statement - Condensed Consolidated Balance Sheets (Parenthetical) Sheet http://mgtci.com/role/BalanceSheetsParenthetical Condensed Consolidated Balance Sheets (Parenthetical) Statements 3 false false R4.htm 00000004 - Statement - Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) Sheet http://mgtci.com/role/StatementsOfOperationsAndComprehensiveLoss Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) Statements 4 false false R5.htm 00000005 - Statement - Condensed Consolidated Statement of Changes in Stockholders' Equity (Unaudited) Sheet http://mgtci.com/role/StatementOfChangesInStockholdersEquity Condensed Consolidated Statement of Changes in Stockholders' Equity (Unaudited) Statements 5 false false R6.htm 00000006 - Statement - Condensed Consolidated Statements of Cash Flows (Unaudited) Sheet http://mgtci.com/role/StatementsOfCashFlows Condensed Consolidated Statements of Cash Flows (Unaudited) Statements 6 false false R7.htm 00000007 - Disclosure - Organization and Basis of Presentation Sheet http://mgtci.com/role/OrganizationAndBasisOfPresentation Organization and Basis of Presentation Notes 7 false false R8.htm 00000008 - Disclosure - Going Concern and Management's Plans Sheet http://mgtci.com/role/GoingConcernAndManagementsPlans Going Concern and Management's Plans Notes 8 false false R9.htm 00000009 - Disclosure - Summary of Significant Accounting Policies Sheet http://mgtci.com/role/SummaryOfSignificantAccountingPolicies Summary of Significant Accounting Policies Notes 9 false false R10.htm 00000010 - Disclosure - Sale of Cybersecurity Assets Sheet http://mgtci.com/role/SaleOfCybersecurityAssets Sale of Cybersecurity Assets Notes 10 false false R11.htm 00000011 - Disclosure - Property and Equipment Sheet http://mgtci.com/role/PropertyAndEquipment Property and Equipment Notes 11 false false R12.htm 00000012 - Disclosure - Common Stock and Warrant Issuances Sheet http://mgtci.com/role/CommonStockAndWarrantIssuances Common Stock and Warrant Issuances Notes 12 false false R13.htm 00000013 - Disclosure - Stock-Based Compensation Sheet http://mgtci.com/role/Stock-basedCompensation Stock-Based Compensation Notes 13 false false R14.htm 00000014 - Disclosure - Commitments and Contingencies Sheet http://mgtci.com/role/CommitmentsAndContingencies Commitments and Contingencies Notes 14 false false R15.htm 00000015 - Disclosure - Related Party Transactions Sheet http://mgtci.com/role/RelatedPartyTransactions Related Party Transactions Notes 15 false false R16.htm 00000016 - Disclosure - Employee Benefit Plans Sheet http://mgtci.com/role/EmployeeBenefitPlans Employee Benefit Plans Notes 16 false false R17.htm 00000017 - Disclosure - Subsequent Events Sheet http://mgtci.com/role/SubsequentEvents Subsequent Events Notes 17 false false R18.htm 00000018 - Disclosure - Summary of Significant Accounting Policies (Policies) Sheet http://mgtci.com/role/SummaryOfSignificantAccountingPoliciesPolicies Summary of Significant Accounting Policies (Policies) Policies http://mgtci.com/role/SummaryOfSignificantAccountingPolicies 18 false false R19.htm 00000019 - Disclosure - Sale of Cybersecurity Assets (Tables) Sheet http://mgtci.com/role/SaleOfCybersecurityAssetsTables Sale of Cybersecurity Assets (Tables) Tables http://mgtci.com/role/SaleOfCybersecurityAssets 19 false false R20.htm 00000020 - Disclosure - Property and Equipment (Tables) Sheet http://mgtci.com/role/PropertyAndEquipmentTables Property and Equipment (Tables) Tables http://mgtci.com/role/PropertyAndEquipment 20 false false R21.htm 00000021 - Disclosure - Common Stock and Warrant Issuances (Tables) Sheet http://mgtci.com/role/CommonStockAndWarrantIssuancesTables Common Stock and Warrant Issuances (Tables) Tables http://mgtci.com/role/CommonStockAndWarrantIssuances 21 false false R22.htm 00000022 - Disclosure - Stock-Based Compensation (Tables) Sheet http://mgtci.com/role/Stock-basedCompensationTables Stock-Based Compensation (Tables) Tables http://mgtci.com/role/Stock-basedCompensation 22 false false R23.htm 00000023 - Disclosure - Organization and Basis of Presentation (Details Narrative) Sheet http://mgtci.com/role/OrganizationAndBasisOfPresentationDetailsNarrative Organization and Basis of Presentation (Details Narrative) Details http://mgtci.com/role/OrganizationAndBasisOfPresentation 23 false false R24.htm 00000024 - Disclosure - Going Concern and Management's Plans (Details Narrative) Sheet http://mgtci.com/role/GoingConcernAndManagementsPlansDetailsNarrative Going Concern and Management's Plans (Details Narrative) Details http://mgtci.com/role/GoingConcernAndManagementsPlans 24 false false R25.htm 00000025 - Disclosure - Summary of Significant Accounting Policies (Details Narrative) Sheet http://mgtci.com/role/SummaryOfSignificantAccountingPoliciesDetailsNarrative Summary of Significant Accounting Policies (Details Narrative) Details http://mgtci.com/role/SummaryOfSignificantAccountingPoliciesPolicies 25 false false R26.htm 00000026 - Disclosure - Sale of Cybersecurity Assets (Details Narrative) Sheet http://mgtci.com/role/SaleOfCybersecurityAssetsDetailsNarrative Sale of Cybersecurity Assets (Details Narrative) Details http://mgtci.com/role/SaleOfCybersecurityAssetsTables 26 false false R27.htm 00000027 - Disclosure - Sale of Cybersecurity Assets - Schedule of Loss on Sale of Cybersecurity Assets (Details) Sheet http://mgtci.com/role/SaleOfCybersecurityAssets-ScheduleOfLossOnSaleOfCybersecurityAssetsDetails Sale of Cybersecurity Assets - Schedule of Loss on Sale of Cybersecurity Assets (Details) Details 27 false false R28.htm 00000028 - Disclosure - Property and Equipment (Details Narrative) Sheet http://mgtci.com/role/PropertyAndEquipmentDetailsNarrative Property and Equipment (Details Narrative) Details http://mgtci.com/role/PropertyAndEquipmentTables 28 false false R29.htm 00000029 - Disclosure - Property and Equipment - Schedule of Property, Plant and Equipment (Details) Sheet http://mgtci.com/role/PropertyAndEquipment-ScheduleOfPropertyPlantAndEquipmentDetails Property and Equipment - Schedule of Property, Plant and Equipment (Details) Details 29 false false R30.htm 00000030 - Disclosure - Common Stock and Warrant Issuances (Details Narrative) Sheet http://mgtci.com/role/CommonStockAndWarrantIssuancesDetailsNarrative Common Stock and Warrant Issuances (Details Narrative) Details http://mgtci.com/role/CommonStockAndWarrantIssuancesTables 30 false false R31.htm 00000031 - Disclosure - Common Stock and Warrant Issuances - Summary of Warrant Outstanding (Details) Sheet http://mgtci.com/role/CommonStockAndWarrantIssuances-SummaryOfWarrantOutstandingDetails Common Stock and Warrant Issuances - Summary of Warrant Outstanding (Details) Details 31 false false R32.htm 00000032 - Disclosure - Stock-Based Compensation (Details Narrative) Sheet http://mgtci.com/role/Stock-basedCompensationDetailsNarrative Stock-Based Compensation (Details Narrative) Details http://mgtci.com/role/Stock-basedCompensationTables 32 false false R33.htm 00000033 - Disclosure - Stock-Based Compensation - Schedule of Restricted Common Stock Activity (Details) Sheet http://mgtci.com/role/Stock-basedCompensation-ScheduleOfRestrictedCommonStockActivityDetails Stock-Based Compensation - Schedule of Restricted Common Stock Activity (Details) Details 33 false false R34.htm 00000034 - Disclosure - Stock-Based Compensation - Schedule of Stock Options Activity (Details) Sheet http://mgtci.com/role/Stock-basedCompensation-ScheduleOfStockOptionsActivityDetails Stock-Based Compensation - Schedule of Stock Options Activity (Details) Details 34 false false R35.htm 00000035 - Disclosure - Commitments and Contingencies (Details Narrative) Sheet http://mgtci.com/role/CommitmentsAndContingenciesDetailsNarrative Commitments and Contingencies (Details Narrative) Details http://mgtci.com/role/CommitmentsAndContingencies 35 false false R36.htm 00000036 - Disclosure - Related Party Transactions (Details Narrative) Sheet http://mgtci.com/role/RelatedPartyTransactionsDetailsNarrative Related Party Transactions (Details Narrative) Details http://mgtci.com/role/RelatedPartyTransactions 36 false false R37.htm 00000037 - Disclosure - Employee Benefit Plans (Details Narrative) Sheet http://mgtci.com/role/EmployeeBenefitPlansDetailsNarrative Employee Benefit Plans (Details Narrative) Details http://mgtci.com/role/EmployeeBenefitPlans 37 false false R38.htm 00000038 - Disclosure - Subsequent Events (Details Narrative) Sheet http://mgtci.com/role/SubsequentEventsDetailsNarrative Subsequent Events (Details Narrative) Details http://mgtci.com/role/SubsequentEvents 38 false false All Reports Book All Reports mgti-20180331.xml mgti-20180331.xsd mgti-20180331_cal.xml mgti-20180331_def.xml mgti-20180331_lab.xml mgti-20180331_pre.xml http://fasb.org/us-gaap/2017-01-31 http://xbrl.sec.gov/dei/2014-01-31 true true ZIP 55 0001493152-18-006508-xbrl.zip IDEA: XBRL DOCUMENT begin 644 0001493152-18-006508-xbrl.zip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end