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BTCS (BTCS) Investor Presentation - Slideshow
2022-09-19 17:26
| --- | --- | --- | --- | |-------|-------|-------|-------| | | | | | | | | | | https://www.btcs.com 1 Safe Harbor The following presentation contains statements, estimates, forecasts, and projections regarding future performance and events, which constitute forward-looking statements. Those statements include statements regarding the intent and belief or current expectations of BTCS and its management team regarding our blockchain infrastructure operations business, planned continued expansions, market opp ...
BTCS(BTCS) - 2022 Q2 - Quarterly Report
2022-08-10 16:00
Financial Performance - Total current assets increased to $5,948,264 in 2022 from $5,466,532 in 2021, representing an increase of 8.8%[17] - Validator revenue for the three months ended June 30, 2022, was $514,349, up 35.1% from $380,499 in the same period of 2021[19] - Gross profit for the six months ended June 30, 2022, was $845,595, compared to $378,778 in the same period of 2021, indicating a significant increase of 123.8%[19] - Total operating expenses for the three months ended June 30, 2022, were $9,855,122, up from $4,530,813 in the same period of 2021, reflecting an increase of 117.5%[19] - Net loss for the three months ended June 30, 2022, was $(7,724,673), compared to a net loss of $(4,842,073) in the same period of 2021, representing a deterioration of 59.5%[19] - For the six months ended June 30, 2022, the net loss was $13,465,416, compared to a net loss of $11,624,248 for the same period in 2021, reflecting an increase in losses of approximately 15.9%[28] - The company reported stock-based compensation of $1,782,802 for the six months ended June 30, 2022, compared to $9,226,702 for the same period in 2021, representing a decrease of approximately 80.7%[28] - The company reported a net loss and net cash used in operating activities for the reporting period ending June 30, 2022, but has sufficient cash and liquid Digital Assets to support operations for the next twelve months[110] Asset and Equity Changes - Total assets decreased to $11,457,687 in 2022 from $14,101,993 in 2021, a decline of 18.5%[17] - Total stockholders' equity as of June 30, 2022, was $10,390,713, down from $12,103,443 in 2021, a decrease of 14.1%[17] - As of June 30, 2022, total stockholders' equity was $10,390,713, down from $12,990,551 as of June 30, 2021, indicating a decrease of approximately 19.9%[24] - The weighted average number of common shares outstanding increased to 12,644,719 in 2022 from 5,667,229 in 2021, an increase of 123.3%[19] Digital Asset Impairments - Impairment loss on digital assets/currencies for the three months ended June 30, 2022, was $8,894,797, compared to $2,267,374 in the same period of 2021, an increase of 292.5%[19] - The company incurred an impairment loss on digital assets/currencies of $12,202,225 for the six months ended June 30, 2022, compared to an impairment loss of $3,569,138 for the same period in 2021, reflecting an increase of approximately 241.5%[28] - The company reported an impairment loss on digital assets of $8,894,797, a 292% increase from $2,267,374 in the same period last year[133] - Digital asset impairment losses for 2022 amounted to $12,202,225, compared to $3,569,138 in 2021[139] Cash and Financing Activities - The cash balance at the end of the period was $3,191,418, an increase of $1,790,551 from the beginning cash balance of $1,400,867[28] - The net cash provided by financing activities for the six months ended June 30, 2022, was $9,973,640, compared to $14,179,133 for the same period in 2021, indicating a decrease of approximately 29.0%[28] - The company had approximately $3.2 million in cash and $4.4 million in liquid digital assets as of August 8, 2022[148] - The company plans to continue raising proceeds from the sale of common stock to fund operations as needed, with $10.6 million raised from the ATM Agreement in the first half of 2022[150] Revenue Recognition and Operations - The company recognizes revenue through staking rewards, with revenue recognized when control of the promised goods or services is transferred to customers[43] - The company’s cost of revenue primarily consists of direct production costs related to validating transactions on the network, which may impact overall profitability[47] - The company has shifted its focus towards blockchain and digital currency ecosystems, with a specific emphasis on transaction verification services and validator nodes[31] - The Company operates validator nodes on various proof of stake-based blockchain networks, including Ethereum's Beacon Chain, Cosmos, and Cardano[123] Strategic Developments - The company is developing a Digital Asset Platform to aggregate users' Digital Asset portfolio holdings and is planning to integrate a proprietary Staking-as-a-Service feature[32] - The company is developing a proprietary Digital Asset Platform to enhance user experience and portfolio management[130] - A Staking-as-a-Service feature is being integrated into the Digital Asset Platform to allow users to earn annual percentage yield on staked assets[131] - The company anticipates that net loss will increase due to rising costs associated with the development of its digital asset platform[143] Stock and Compensation - The Company declared a non-recurring special dividend of $0.05 per share, resulting in total distributions of $635,000 for the six months ended June 30, 2022, compared to $0 in the same period of 2021[68] - The 2021 Equity Incentive Plan was approved, reserving 7,000,000 shares of Common Stock for issuance, reflecting an increase from the initial 2,000,000 shares[92] - The Company granted RSUs to executive officers with vesting terms based on achieving market capitalization thresholds of $100 million, $150 million, $200 million, and $400 million[96] - For the six months ended June 30, 2022, stock-based compensation expense totaled approximately $1.9 million, compared to $9 million for the same period in 2021[106] Market Performance - Total revenues for Q2 2022 were $514,349, a 35% increase from $380,499 in Q2 2021[133] - Validator revenue increased by $133,850, representing a 35% growth year-over-year[133] - Gross profit for Q2 2022 was $420,449, up 31% from $321,250 in Q2 2021[133] - Realized gains on the sale of Digital Assets were approximately $470,000 for the six months ended June 30, 2022, down from $3.1 million in the same period in 2021, indicating a decline in trading performance[50]
BTCS(BTCS) - 2022 Q1 - Quarterly Report
2022-05-12 16:00
Financial Performance - Total assets increased to $20,475,520 in 2022 from $14,101,993 in 2021, representing a growth of approximately 45%[17] - Validator revenue surged to $563,015 in Q1 2022, up from $72,524 in Q1 2021, marking a year-over-year increase of 676%[20] - Gross profit for Q1 2022 was $425,146, compared to $57,528 in Q1 2021, reflecting a significant improvement in profitability[20] - Total operating expenses decreased to $2,252,696 in Q1 2022 from $7,976,014 in Q1 2021, a reduction of approximately 72%[20] - Net loss attributable to common stockholders narrowed to $(5,740,743) in Q1 2022 from $(11,620,571) in Q1 2021, indicating a 51% improvement[20] - The net loss for 2022 was $5,740,743, an improvement from a net loss of $6,782,175 in 2021, indicating a reduction of approximately 15.4%[29] - Net cash used in operating activities decreased to $1,055,243 in 2022 from $2,541,258 in 2021, reflecting a reduction of about 58.4%[29] - The company reported a significant impairment loss on digital assets of $3,307,428 in 2022, compared to $1,301,764 in 2021, representing an increase of approximately 154.1%[29] - The company reported an impairment loss on digital assets of approximately $3.31 million for Q1 2022[151] - Adjusted EBITDA for Q1 2022 was $(3.73) million, compared to $1.12 million in Q1 2021[145] Cash and Liquidity - Cash and cash equivalents increased to $2,245,062 in 2022 from $1,400,867 in 2021, a growth of approximately 60%[17] - Cash at the end of the period for 2022 was $2,245,062, down from $3,367,249 in 2021, a decrease of about 33.3%[29] - The company has not experienced any losses in cash accounts and believes it is not exposed to significant credit risk on cash[44] - The company has approximately $2.2 million in cash as of March 31, 2022, compared to $1.4 million at the end of 2021, indicating a growth of about 57.1%[43] - The net cash provided by financing activities in 2022 was $10,113,573, a decrease from $13,379,259 in 2021, representing a decline of about 24.5%[29] - Cash used in operating activities was $1.1 million for the three months ended March 31, 2022, a decrease from $2.5 million for the same period in 2021[161] - Cash provided by financing activities was $10.1 million during the three months ended March 31, 2022, compared to $13.4 million for the same period in 2021, primarily from proceeds of $10.5 million from the ATM Agreement[162] - The company believes that existing cash and liquid digital assets, along with funds available from the ATM Agreement, provide sufficient liquidity for at least the next twelve months[160] - The company has no long-term debt outstanding and no off-balance sheet arrangements as of March 31, 2022[163] Digital Assets and Investments - Staked digital assets/currencies rose significantly to $6,601,777 in 2022 from $623,754 in 2021, an increase of over 950%[17] - The company incurred $8,521,726 in the purchase of productive digital assets for validating in 2022, compared to $7,994,887 in 2021, reflecting an increase of approximately 6.6%[29] - The company holds a Digital Asset treasury comprised of 90 Bitcoins, focusing on non-productive assets[140] - The company sold a total of 2,268,742 shares of common stock under the ATM Agreement for gross proceeds of approximately $13.9 million at an average price of $6.12 per share[154] - Cash used in investing activities was $8.2 million for the three months ended March 31, 2022, compared to $8.0 million for the same period in 2021, primarily for the purchase of digital assets[161] Revenue and Growth Projections - Total revenues for Q1 2022 were $563,015, up by $490,491 compared to Q1 2021[147] - The company anticipates revenue guidance of $35 million for the next quarter, indicating a projected growth of approximately 16.67%[187] - New product launches are expected to contribute an additional $5 million in revenue over the next two quarters[187] - The company reported a total revenue of $30 million for the quarter, reflecting a year-over-year increase of 30%[187] User Growth and Market Expansion - The user base grew to 1.5 million active users, representing a 25% increase compared to the previous quarter[187] - Market expansion efforts are focused on entering two new regions, which are projected to add 10% to the overall user growth[187] - The company is exploring potential acquisition opportunities to enhance its market position and product offerings[187] - A strategic partnership is being developed with a leading tech firm to leverage synergies in product development[187] Operational Efficiency and Cost Management - Operational efficiency improvements are expected to reduce costs by 15% over the next fiscal year[187] - The company plans to increase its marketing budget by 20% to drive user acquisition and brand awareness[187] - The company approved a performance-based Annual Cash Incentive Plan for executives, with bonuses ranging from 48% to 107% of base salaries[119] Digital Asset Platform Development - The company plans to develop a Digital Asset Platform to aggregate user holdings and analyze performance, which will include a Staking-as-a-Service feature[34] - The company is developing a Digital Asset Platform to enhance user experience with features like portfolio monitoring and staking services[138][139] - The company plans to integrate a Staking-as-a-Service feature into its Digital Asset Platform, allowing users to earn annual percentage yields on staked assets[139] - The company has developed a Digital Asset Platform, with an open beta feature allowing users to evaluate their digital asset portfolios[122]
BTCS (BTCS) Investor Presentation - Slideshow
2022-03-23 19:40
| --- | --- | --- | --- | |-------|-------------------------------------------------|-------|-------| | | | | | | | | | | | | Corporate Presentation BTCS Inc. (Nasdaq: BTCS) | | | | | March 16, 2022 | | | https://www.btcs.com 1 Safe Harbor The following presentation contains statements, estimates, forecasts and projections with respect to future performance and events, which constitute forward-looking statements. Those statements include statements regarding the intent and belief or current expectations of ...
BTCS(BTCS) - 2021 Q4 - Annual Report
2022-03-10 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Nevada 90-1096644 (State or other jurisdiction of Incorporation or organization) (I.R.S. Employer Identification No.) FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 or ☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____________ to ______________ Commissions file number 001-40 ...
BTCS(BTCS) - 2021 Q3 - Quarterly Report
2021-11-08 16:00
Financial Performance - Total assets increased to $13,133,672 in 2021 from $1,551,892 in 2020, representing a growth of approximately 747%[18] - Validator revenue for the three months ended September 30, 2021, was $323,376, compared to $0 in the same period of 2020[20] - Gross profit for the three months ended September 30, 2021, was $251,686, with a gross margin of approximately 77.9%[20] - Total operating expenses for the three months ended September 30, 2021, were $5,311,132, significantly higher than $879,954 in the same period of 2020[20] - Net loss attributable to common stockholders for the three months ended September 30, 2021, was $3,855,525, compared to a loss of $1,005,324 in 2020[20] - For the nine months ended September 30, 2021, the net loss was $15,466,585, compared to a net loss of $1,795,897 for the same period in 2020, indicating a significant increase in losses[31] - The company reported a net loss per share attributable to common stockholders of $0.59 for the three months ended September 30, 2021, compared to $0.33 in 2020[20] - Operating expenses for the nine months ended September 30, 2021, were approximately $15.6 million, compared to $1.4 million in the same period of 2020, largely due to $13.3 million in stock-based compensation expense[173] - Net loss for the nine months ended September 30, 2021, was approximately $15.5 million, up from $1.8 million in the same period of 2020[176] Cash and Assets - Cash and digital assets increased to $3,818,907 in 2021 from $1,519,787 in 2020, indicating a growth of approximately 151%[18] - The company reported a cash balance of $658,931 at the end of the period, up from $364,703 at the end of the same period in 2020[31] - As of September 30, 2021, the fair market value of the Company's liquid digital assets was approximately $6.2 million, with cash reserves of approximately $0.66 million, ensuring adequate funding for operations for at least the next twelve months[44] - The fair market value of the company's liquid digital assets was approximately $6.2 million as of September 30, 2021, indicating a stable asset base[187] - As of November 4, 2021, the fair market value of the company's digital assets was approximately $45.7 million[150] Stock and Equity - The company had a total of 10,102,711 common shares outstanding as of September 30, 2021, up from 4,201,035 shares in 2020[18] - The company executed a 1-for-10 reverse stock split effective August 13, 2021, adjusting the conversion ratios for preferred stock accordingly[39] - The Company plans to continue raising funds through the sale of common stock and issuance of debt to support operations over the next twelve months[43] - The Company raised $9.5 million through a private placement of 950,000 shares of common stock and warrants on March 4, 2021[87] - The Series C-2 Convertible Preferred Stock was subscribed for $1,100,000, with a recognized compensation expense of $179,277 due to fair value differences[94] - The Series C-2 was reclassified to permanent equity after stockholder approval on March 31, 2021, following the initial classification as temporary equity[98] - The Company issued a $1,000,000 promissory note on January 15, 2021, with similar terms as the previous note, including a 12% interest rate and a 35% discount conversion feature[79] Operational Developments - The company is developing a proprietary staking-as-a-service platform aimed at securing proof-of-stake blockchains, which is expected to be a core focus going forward[35] - A proprietary digital asset data analytics platform is under development to enable users to aggregate portfolio holdings from multiple exchanges and wallets[36] - The company has resumed its blockchain infrastructure operations, focusing on transaction validation services[35] - The company currently operates validator nodes on Ethereum's beacon chain, Cardano, Tezos, Avalanche, and Cosmos[144] - The company is developing a digital asset data analytics dashboard to allow users to evaluate their crypto portfolios across multiple exchanges[151] - The dashboard will include a staking-as-a-service feature for users to delegate tokens to company-operated validator nodes[152] Financial Strategy and Funding - The Company received net proceeds of approximately $14.6 million from various equity and debt instruments during the nine months ended September 30, 2021[44] - The company generated net cash provided by financing activities of $13,506,039 for the nine months ended September 30, 2021, compared to $1,885,494 in the same period of 2020[31] - The company has no off-balance sheet transactions or guarantees beyond normal business operations, ensuring transparency in financial reporting[188] - The company anticipates hiring a new Chief Financial Officer by December 31, 2021, following the resignation of the previous CFO on November 4, 2021[201] Compliance and Governance - The company has effective disclosure controls and procedures in place, as confirmed by the evaluation conducted by the CEO and CFO[191] - The company has filed various Inline XBRL documents to enhance transparency and compliance with regulatory requirements[211] - There were no changes in internal control over financial reporting that materially affected the company's financial reporting during the most recently completed fiscal quarter[193] - The company is currently assessing the impact of recent accounting standards on its financial statements and disclosures, including ASU 2019-12 and ASU 2020-06[73][74]
BTCS(BTCS) - 2021 Q2 - Quarterly Report
2021-08-05 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Nevada 90-1096644 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) Form 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2021 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______________ to _______________. Commission file num ...
BTCS(BTCS) - 2021 Q1 - Quarterly Report
2021-05-12 16:00
Part I - Financial Information [Financial Statements](index=4&type=section&id=ITEM%201%20Financial%20Statements) Total assets grew to $16.1 million and the company generated its first staking revenue, but recorded a $6.8 million net loss due to high compensation expenses [Condensed Balance Sheets](index=4&type=section&id=Condensed%20Balance%20Sheets) Total assets grew to $16.1 million from $1.55 million, primarily fueled by increases in cash and digital assets Condensed Balance Sheet Highlights (Unaudited) | Account | March 31, 2021 | December 31, 2020 | | :--- | :--- | :--- | | **Assets** | | | | Cash | $3,367,249 | $524,135 | | Digital assets/currencies | $4,567,385 | $995,652 | | Staked digital assets/currencies | $7,735,390 | $0 | | **Total Assets** | **$16,123,301** | **$1,551,892** | | **Liabilities & Equity** | | | | Total current liabilities | $764,093 | $508,605 | | Total stockholders' equity | $15,359,208 | $1,043,287 | | **Total Liabilities and stockholders' equity** | **$16,123,301** | **$1,551,892** | [Condensed Statements of Operations](index=5&type=section&id=Condensed%20Statements%20of%20Operations) The company reported its first staking revenue but operating expenses surged, resulting in a net loss of $6.8 million Condensed Statement of Operations (Unaudited) | Account | Three Months Ended March 31, 2021 | Three Months Ended March 31, 2020 | | :--- | :--- | :--- | | Staking revenue | $72,524 | $0 | | Gross profit | $57,528 | $0 | | Total operating expenses | $7,976,014 | $273,218 | | Realized gains on digital asset/currency transactions | $3,054,418 | $0 | | Impairment loss on digital assets/currencies | $(1,301,764) | $(74,425) | | **Net loss** | **$(6,782,175)** | **$(370,271)** | | **Net loss attributable to common stockholders** | **$(11,620,571)** | **$(370,271)** | | Net loss per share, basic and diluted | $(0.24) | $(0.02) | [Condensed Statements of Changes in Stockholders' (Deficit) Equity](index=6&type=section&id=Condensed%20Statements%20of%20Changes%20in%20Stockholders'%20%28Deficit%29%20Equity) Stockholders' equity increased substantially to $15.4 million, driven by stock issuances despite a net loss - Stockholders' equity increased from **$1,043,287** at Dec 31, 2020 to **$15,359,208** at March 31, 2021[21](index=21&type=chunk) - Key activities impacting equity in Q1 2021 included: issuance of common stock and warrants for **$8.9 million**, issuance of common stock for **$2.0 million**, issuance of Series C-2 preferred stock for **$1.1 million**, and stock-based compensation of **$7.5 million**[21](index=21&type=chunk) [Condensed Statements of Cash Flows](index=7&type=section&id=Condensed%20Statements%20of%20Cash%20Flows) Strong financing inflows of $13.4 million offset cash used in operations and investing, resulting in a net cash increase Cash Flow Summary (Unaudited) | Activity | Three Months Ended March 31, 2021 | Three Months Ended March 31, 2020 | | :--- | :--- | :--- | | Net cash used in operating activities | $(2,541,258) | $(277,543) | | Net cash used in investing activities | $(7,994,887) | $0 | | Net cash provided by financing activities | $13,379,259 | $413,011 | | **Net increase in cash** | **$2,843,114** | **$135,468** | | **Cash, end of period** | **$3,367,249** | **$278,566** | [Notes to the Unaudited Condensed Financial Statements](index=8&type=section&id=Notes%20to%20the%20Unaudited%20Condensed%20Financial%20Statements) The notes detail the company's strategic shift to blockchain infrastructure, key accounting policies, and significant financing activities [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=19&type=section&id=ITEM%202%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses its strategic focus on blockchain, initial staking revenue, and a net loss driven by non-cash expenses - The company's business strategy focuses on three core areas: **Blockchain Infrastructure** (securing PoS blockchains), a **Digital Asset Data Analytics Platform**, and a **Digital Asset Treasury Strategy**[109](index=109&type=chunk)[110](index=110&type=chunk)[114](index=114&type=chunk) - The fair market value of the company's digital assets grew to **$20.1 million** in Q1 2021, a **411% increase QoQ**, and reached **$37.7 million** as of May 11, 2021[117](index=117&type=chunk)[118](index=118&type=chunk) - The company raised approximately **$13.4 million** from financing activities in Q1 2021, providing adequate cash to fund operations for at least the next twelve months[136](index=136&type=chunk)[140](index=140&type=chunk) [Overview](index=19&type=section&id=Overview) The company's operations focus on securing PoS blockchains, developing a staking platform, and maintaining a digital asset treasury - The company's blockchain infrastructure operations focus on securing Proof-of-Stake (PoS) blockchains, which is more energy-efficient than Proof-of-Work (PoW)[110](index=110&type=chunk)[112](index=112&type=chunk) - BTCS actively operates **240 nodes** on the ethereum beacon chain and is developing a non-custodial staking-as-a-service platform[113](index=113&type=chunk) - The company is developing a proprietary data analytics platform for users to aggregate portfolio holdings from multiple exchanges and wallets[114](index=114&type=chunk) Digital Asset Holdings (Fair Market Value) | Period | Total Fair Market Value | | :--- | :--- | | Q1 2021 | $20,136,404 | | Q4 2020 | $3,938,698 | | Q1 2020 | $264,413 | [Results of Operations](index=22&type=section&id=Results%20of%20Operations%20for%20the%20Three%20Months%20Ended%20March%2031%2C%202021%20and%202020) The company generated its first staking revenue but incurred a $6.8 million net loss due to a dramatic increase in operating expenses - Revenue increased to **~$73,000** in Q1 2021 from $0 in Q1 2020, due to the commencement of blockchain infrastructure staking revenue[125](index=125&type=chunk) - Operating expenses surged to **$8.0 million** in Q1 2021 from $0.3 million in Q1 2020, primarily due to stock compensation granted to employees and a director[127](index=127&type=chunk) - Other income of **$1.1 million** was driven by a **$3.1 million** realized gain on digital asset transactions, partially offset by a **$1.3 million** impairment loss[129](index=129&type=chunk) - Net loss increased to **$6.8 million** in Q1 2021 compared to $0.4 million in Q1 2020, mainly due to higher operating expenses[130](index=130&type=chunk) [Liquidity and Capital Resources](index=23&type=section&id=Liquidity%20and%20Capital%20Resources) The company secured $13.4 million in financing, ensuring sufficient liquidity for the next twelve months despite cash use in operations and investing - Net cash provided by financing activities was approximately **$13.4 million** for Q1 2021, primarily from stock and warrant issuances[136](index=136&type=chunk) - Net cash used in investing activities was **$8.0 million**, all for the purchase of productive digital assets for staking[134](index=134&type=chunk) - As of May 11, 2021, the Company had **$4.036 million** of cash[139](index=139&type=chunk) - The company had working capital of **$7.6 million** as of March 31, 2021 and believes it has adequate cash to fund operations for at least the next twelve months[139](index=139&type=chunk)[140](index=140&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=24&type=section&id=ITEM%203%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) This section is not applicable to the company for this reporting period - Not applicable[143](index=143&type=chunk) [Controls and Procedures](index=24&type=section&id=ITEM%204%20Controls%20and%20Procedures) Management concluded that disclosure controls were not effective due to material weaknesses in internal financial reporting controls - The CEO concluded that **disclosure controls and procedures were not effective** as of March 31, 2021[144](index=144&type=chunk) - Material weaknesses identified include **limited segregation of duties** and reliance on outside consultants for financial reporting[144](index=144&type=chunk)[145](index=145&type=chunk) - The company's remediation plan includes actively seeking to hire a **full-time Chief Financial Officer**[146](index=146&type=chunk) Part II - Other Information [Legal Proceedings](index=25&type=section&id=ITEM%201%20Legal%20Proceedings) The company reported no legal proceedings during the period - None[150](index=150&type=chunk) [Risk Factors](index=25&type=section&id=ITEM%201A%20Risk%20Factors) This section is not applicable as the company is a smaller reporting company - Not applicable to smaller reporting companies[151](index=151&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=25&type=section&id=ITEM%202%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company reported no unregistered sales of equity securities during the period - None[152](index=152&type=chunk) [Other Information](index=25&type=section&id=ITEM%205%20Other%20Information) The company reported no other information for the period - None[155](index=155&type=chunk) [Exhibits](index=25&type=section&id=ITEM%206%20Exhibits) This section lists the exhibits filed or incorporated by reference as part of the Form 10-Q - The exhibits listed in the accompanying "Exhibit Index" are filed or incorporated by reference as part of this Form 10-Q[156](index=156&type=chunk)
BTCS(BTCS) - 2020 Q4 - Annual Report
2021-01-25 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K [X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 or [ ] TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____________ to ______________ Commissions file number 000-55141 BTCS Inc. (Exact name of registrant as specified in its charter) Nevada 90-1096644 (State or other jurisdictio ...
BTCS(BTCS) - 2020 Q3 - Quarterly Report
2020-11-04 15:50
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 September 30, 2020 [ ] 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: 000-55141 BTCS Inc. (Exact name of registrant as specified in its charter) | --- | --- | --- | |-------- ...