Moxian (BVI) Inc Reports Unaudited Financial Results for the First Half of 2022
2022年12月31日 - 6:00AM
Moxian (BVI) Inc (“Moxian” or the “Company”) (NASDAQ: MOXC), a
company engaged in bitcoin mining and related services in the
United States, today reported its unaudited financial results for
the six months ended June 30, 2022.
In March 2022, we began progressively our
bitcoin mining operations in the State of Georgia and Buffalo, New
York. Our digital asset mining operations, hosted by third party
providers, use specialized computers, known as miners, to generate
bitcoin, a digital asset. The Company works with third party
hosting partners who operate specialized mining data centres and
provide IT consulting, maintenance, and repair work on-site for
us.
The primary intent behind operating our mining
business is the accumulation of bitcoins, which we may sell for
fiat currency from time to time depending on market conditions and
management’s determination of our cash flow needs. Given bitcoins
finite supply, our target is to mine as many bitcoins as quickly as
possible. Unfortunately, because of the fall of the value of
bitcoins during this period, our fleet remained largely offline as
it was unprofitable to mine given the high electricity costs.
The Company is in a relatively sound financial
base as the recurrent overheads are well within control. Once
bitcoin mining resumes because of higher market prices, the Company
is hopeful that its outlook will be steady.
About Moxian (BVI) Inc
Moxian (BVI) Inc, a company organized in the
British Virgin Islands in May 2021, is the surviving company
following its merger with Moxian, Inc. in August 2021. Moxian (BVI)
Inc operates in the States of New York and Georgia in the U.S.
Forward-Looking Statements
This announcement contains forward-looking
statements as defined in Section 21E of the Securities Exchange Act
of 1934 as amended. These forward-looking statements are based on
the Safe Harbor provisions of the Private Securities Litigation
Reform Act of 1995 and may be governed by terms such as “will,”
“expect,” “anticipate,” “future,” “intend,” “plan,” Believe,
“estimate”, “potential”, “continue”, “in progress”, “goal”,
“guidance expectations” and similar statements are identified. The
company may also include in its periodic reports to the US
Securities and Exchange Commission (“SEC”), annual reports to
shareholders, press releases and other written materials, as well
as oral statements from third parties to the company’s management,
directors or employees. Any statements that are not historical
facts, including statements about the company’s philosophy and
expectations, are forward-looking statements that involve factors,
risks, and uncertainties that could cause actual results to differ
materially from those in the forward-looking statements. These
factors and risks include, but are not limited to, the following:
company’s goals and strategies; future business development;
financial status and operating results; expected growth of bitcoin
mining industry and Internet media marketing industry; demand and
acceptance of the company’s products and services; the relationship
between the company and strategic partners; industry competition;
and policies and regulations related to the company’s structure,
business and industry. More detailed information about these and
other risks and uncertainties is included in the company’s filings
with the Securities and Exchange Commission. All information
provided in the company’s introduction is the latest information as
of the date of publication of the company. Except as provided by
applicable law, the company is not obligated to update such
information.
For further information, please
contact:
Wanhong TanChief Financial Officer+852 9855
6575yf@abitgrp.com
MOXIAN (BVI) INC.CONSOLIDATED BALANCE SHEETS
|
|
|
|
As of |
|
|
|
Note |
|
June 30, 2022(Unaudited) |
|
|
December 31, 2021 |
|
ASSETS |
|
|
|
|
|
|
|
|
|
|
Current
Assets |
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents |
|
|
|
$ |
5,800,361 |
|
|
$ |
2,507,404 |
|
Accounts receivable |
|
|
|
|
649,329 |
|
|
|
229,708 |
|
Prepayments and other
receivables |
|
3 |
|
|
531,200 |
|
|
|
- |
|
Total current assets |
|
|
|
|
6,980,890 |
|
|
|
2,737,112 |
|
Digital assets |
|
4 |
|
|
8,440,422 |
|
|
|
5,000,000 |
|
Vehicles |
|
|
|
|
133,308 |
|
|
|
- |
|
Miners |
|
5 |
|
|
29,800,000 |
|
|
|
- |
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL ASSETS |
|
|
|
|
45,354,620 |
|
|
|
7,737,112 |
|
|
|
|
|
|
|
|
|
|
|
|
LIABILITIES AND
SHAREHOLDERS’ EQUITY |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other payables and
accruals |
|
|
|
$ |
120,523 |
|
|
$ |
1,170,096 |
|
|
|
|
|
|
|
|
|
|
|
|
Stockholders’
Equity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Preferred stock, $0.001010 par
value, authorized; 50,000,000 shares, 5,000.000 shares issued and
outstanding as of June 30, 2022 and December 31, 2021 |
|
|
|
$ |
5,050 |
|
|
$ |
5,050 |
|
Common stock, $0.001 par
value, authorized: 50,000,000 shares. Issued and outstanding:
35,554,667 shares as of June 30, 2022; 19,554,567 shares as of
December 31, 2021. |
|
|
|
|
35,554 |
|
|
|
19,554 |
|
Additional paid-in
capital |
|
|
|
|
89,290,193 |
|
|
|
49,306,193 |
|
Accumulated deficit |
|
|
|
|
(44,710,434 |
) |
|
|
(43,788,360 |
) |
Accumulated other
comprehensive income |
|
|
|
|
613,734 |
|
|
|
1,024,579 |
|
Total Shareholders’
Equity |
|
|
|
|
45,234,097 |
|
|
|
6,567,016 |
|
Total Liabilities
and Shareholders’ Equity |
|
|
|
$ |
45,354,620 |
|
|
$ |
7,737,112 |
|
MOXIAN (BVI) INC.UNAUDITED CONSOLIDATED
STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
|
|
Six Months Ended |
|
|
Six Months Ended |
|
|
|
June 30, 2022 |
|
|
June 30, 2021 |
|
Revenue |
|
$ |
40,422 |
|
|
$ |
216,979 |
|
Direct costs of revenue |
|
|
(15,377 |
) |
|
|
- |
|
Other operating costs |
|
|
(161,540 |
) |
|
|
- |
|
|
|
|
|
|
|
|
|
|
(Loss)/profit from
operations |
|
|
(136,495 |
) |
|
|
216,979 |
|
General and administrative
expenses |
|
|
(785,579 |
) |
|
|
(2,074,528 |
) |
Other income |
|
|
- |
|
|
|
291,923 |
|
(Loss)/income before tax |
|
|
(922,074 |
) |
|
|
(1,626,898 |
) |
Income tax |
|
|
- |
|
|
|
- |
|
Loss after tax |
|
|
(922,074 |
) |
|
|
(1,626,898 |
) |
Foreign exchange
adjustment |
|
|
|
|
|
|
(19,245 |
) |
Comprehensive loss for the
period |
|
$ |
(922,074 |
) |
|
$ |
(1,646,143 |
) |
|
|
|
|
|
|
|
|
|
Basic and diluted loss per
ordinary share |
|
$ |
(0.026 |
) |
|
$ |
(0.085 |
) |
Basic and diluted average
number of ordinary shares outstanding |
|
$ |
35,554,667 |
|
|
|
19,341,529 |
|
MOXIAN (BVI) INC.UNAUDITED CONSOLIDATED
STATEMENTS OF CHANGES TO STOCKHOLDERS’ EQUITY (DEFICIT)
|
|
Preferred Shares |
|
|
Ordinary Shares |
|
|
Additionalpaid-in |
|
|
Accumulated |
|
|
Accumulatedothercomprehensive |
|
|
|
|
|
|
Number |
|
|
Amount |
|
|
Number |
|
|
Amount |
|
|
capital |
|
|
deficit |
|
|
income |
|
|
Total |
|
Balance, June 30,
2021 |
|
|
- |
|
|
|
- |
|
|
|
16,191,529 |
|
|
$ |
16,191 |
|
|
$ |
40,114,606 |
|
|
$ |
(40,739,748 |
) |
|
$ |
756,950 |
|
|
|
147,999 |
|
Foreign currency translation
adjustment |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
267,629 |
|
|
|
267,629 |
|
Issuance of new ordinary
shares for proceeds |
|
|
- |
|
|
|
- |
|
|
|
3,150,000 |
|
|
|
3,150 |
|
|
|
3,934,350 |
|
|
|
- |
|
|
|
- |
|
|
|
3,937,500 |
|
Issuance of new ordinary
shares for services |
|
|
- |
|
|
|
- |
|
|
|
213,148 |
|
|
|
213 |
|
|
|
262,287 |
|
|
|
- |
|
|
|
- |
|
|
|
262,500 |
|
Issuance of new preferred
shares |
|
|
5,000,000 |
|
|
|
5,050 |
|
|
|
- |
|
|
|
- |
|
|
|
4,994,950 |
|
|
|
- |
|
|
|
- |
|
|
|
5,000,000 |
|
Net loss for the period |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
(3,048,612 |
) |
|
|
- |
|
|
|
(3,048,612 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance, December 31,
2021 |
|
|
5,000,000 |
|
|
|
5,050 |
|
|
|
19,554,677 |
|
|
|
19,554 |
|
|
|
49,306,193 |
|
|
|
(43,788,360 |
) |
|
|
1,024,579 |
|
|
|
6,567,016 |
|
Foreign currency translation
adjustment |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(410,845 |
) |
|
|
(410,845 |
) |
Issuance of new ordinary
shares for proceeds |
|
|
- |
|
|
|
- |
|
|
|
16,000,000 |
|
|
|
16,000 |
|
|
|
39,984,000 |
|
|
|
- |
|
|
|
- |
|
|
|
40,000,000 |
|
Net loss for the period |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
(922,074 |
) |
|
|
- |
|
|
|
(922,074 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance, June 30,
2022 |
|
|
5,000,000 |
|
|
|
5,050 |
|
|
|
35,554,677 |
|
|
|
35,554 |
|
|
|
89,290,193 |
|
|
|
(44,710,434 |
) |
|
|
613,734 |
|
|
|
45,234,097 |
|
MOXIAN (BVI) INC.UNAUDITED CONSOLIDATED
STATEMENTS OF CASH FLOWS
|
|
For the Six Months |
|
|
For the Six Months |
|
|
|
Ended |
|
|
Ended |
|
|
|
June 30, 2022 |
|
|
June 30, 2021 |
|
Net loss for the period |
|
|
922,074 |
|
|
|
1,626,898 |
|
Adjustment to reconcile cash
used in operating activities: |
|
|
|
|
|
|
|
|
Provision for bad debt |
|
|
- |
|
|
|
(1,459,892 |
) |
|
|
|
922,074 |
|
|
|
167,006 |
|
Changes in operating assets
and liabilities: |
|
|
|
|
|
|
|
|
Accounts receivable |
|
|
419,621 |
|
|
|
2,172,790 |
|
Prepayments and other
deposits |
|
|
531,200 |
|
|
|
- |
|
Other payables and
accruals |
|
|
1,049,573 |
|
|
|
997,001 |
|
USDC |
|
|
3,440,422 |
|
|
|
- |
|
Fixed assets |
|
|
29,933,308 |
|
|
|
- |
|
Cash used in operating
activities |
|
|
36,296,198 |
|
|
|
3,336,797 |
|
Cash raised in financing
activities: |
|
|
|
|
|
|
|
|
Proceeds from issue of new
ordinary shares |
|
|
40,000,000 |
|
|
|
- |
|
|
|
|
3,703,802 |
|
|
|
3,336,797 |
|
Effect of exchange rates on
cash and cash equivalents |
|
|
410,845 |
|
|
|
131,349 |
|
Net increase in cash and cash
equivalents |
|
|
3,292,957 |
|
|
|
3,468,146 |
|
Cash and cash equivalents,
beginning of period |
|
|
2,507,404 |
|
|
|
19,402 |
|
Cash and cash equivalents, end
of period |
|
|
5,800,361 |
|
|
|
3,487,548 |
|
Moxian (NASDAQ:MOXC)
過去 株価チャート
から 5 2024 まで 6 2024
Moxian (NASDAQ:MOXC)
過去 株価チャート
から 6 2023 まで 6 2024