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Statements of Operations (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenues        
Validator revenue (net of fees) $ 316,242 $ 344,196 $ 1,013,503 $ 1,421,560
Total revenues 316,242 344,196 1,013,503 1,421,560
Cost of revenues        
Validator expenses 83,100 82,203 278,726 313,972
Gross profit 233,142 261,993 734,777 1,107,588
Operating expenses:        
General and administrative 283,239 432,956 1,510,637 1,595,296
Research and development 148,525 126,857 531,053 448,579
Compensation and related expenses 409,960 669,792 1,450,546 2,731,713
Marketing 2,155 8,765 11,121 74,249
Impairment loss on crypto assets 372,441 145,247 1,251,950 12,347,472
Realized gains on crypto asset transactions (58,107) (20,126) (806,137) (489,682)
Total operating expenses 1,158,213 1,363,491 3,949,170 16,707,627
Other income (expenses):        
Change in fair value of warrant liabilities 285,000 71,250 142,500 1,140,000
Distributions to warrant holders (35,625)
Total other income (expenses) 285,000 71,250 142,500 1,104,375
Net loss $ (640,071) $ (1,030,248) $ (3,071,893) $ (14,495,664)
Net loss per share attributable to common stockholders, basic $ (0.04) $ (0.08) $ (0.22) $ (1.15)
Net loss per share attributable to common stockholders, diluted $ (0.04) $ (0.08) $ (0.22) $ (1.15)
Weighted average number of common shares outstanding, basic 14,317,750 12,952,645 13,957,097 12,616,805
Weighted average number of common shares outstanding, diluted 14,317,750 12,952,645 13,957,097 12,616,805