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Subsequent Events
9 Months Ended
Sep. 30, 2018
Subsequent Events [Abstract]  
Subsequent Events

Note 12. Subsequent Events

 

The Company has evaluated the impacts of subsequent events through November 19, 2018, and has determined that no such events occurred that were required to be reflected in the unaudited condensed consolidated financial statements, except as described within the above notes and described below.

 

Modification of Notes Payable

 

On October 24, 2018, the Company entered into an amendment to its June 2018 Note to (a) forego the installment payment due on November 1, 2018; (b) extend the maturity date of the note to May 1, 2019; and (c) to increase the principal amount on the note by $48.

 

On November 9, 2018, the Company entered into an amendment of one of its May 2018 Notes to (a) forego the installment payments due on November 23, 2018, December 23, 2018, and January 23, 2019; and (b) extend the maturity date of the note to June 23, 2018. In exchange for the amendment, the Company paid the holder of the note $11.

 

Operating Agreement

 

On October 23, 2018, the Company entered into a hosting agreement with a hosting facility in Colorado where it is in the process of moving its machines from Sweden. The agreement will be in effect from November 1, 2018 through October 31, 2020, for an approximate fee of $408 per month. In connection with this agreement, the Company paid $408 as a security deposit.

 

Shares issued to consultants

 

Subsequent to September 30, 2018 through November 19, 2018, the Company issued 78,500 shares of its common stock to consultants in exchange for services.

 

Equity Purchase Agreement

 

Subsequent to September 30, 2018 through November 19, 2018, the Company issued 18,000,000 shares of its common stock under the Equity Purchase Agreement in exchange for $608.

 

Warrant Exercises

 

Subsequent to September 30, 2018 through November 19, 2018, the Company issued 750,000 shares of its common stock under cashless exercises of a warrant to purchase 15,900 shares of the Company’s common stock.