Annual report pursuant to Section 13 and 15(d)

Property and equipment

v3.19.1
Property and equipment
12 Months Ended
Dec. 31, 2018
Property, Plant and Equipment [Abstract]  
Property and equipment
Note 6.  Property and equipment:

The breakdown of the impairment charges are as follows:
 
   
December 31, 2018
   
December 31, 2017
 
Prive miners
 
$
17,690,541
   
$
-
 
BMSS miners
   
6,701,971
     
-
 
Kairos miners
   
3,025,761
     
5,218,004
 
Leasehold improvements
   
1,819,446
     
-
 
Total impairment charge
 
$
29,237,719
   
$
5,218,004
 

Property and equipment consisted of the following as of December 31, 2018 and 2017: 
 
   
December 31, 2018
   
December 31, 2017
 
Digital currency machines
 
$
-
   
$
4,700,575
 
Office and computer equipment
   
92,840
     
61,670
 
Total cost of property and equipment
   
92,840
     
4,762,245
 
Less accumulated depreciation
   
(66,571
)
   
(468,079
)
Property and equipment, net
 
$
26,269
   
$
4,294,166
 

Depreciation and amortization expense totaled approximately $5.2 million and $0.9 million, for the years ended December 31, 2018 and 2017, respectively. Depreciation is computed on the straight-line basis for the periods the assets are in service.